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The Stock Mover's Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carol Masser along with Tim Stanovich. Let's get to some stocks and move on this Monday. Bloomberg Equities reporter Avalon Pernel is in the house with us, and she's going to start with the tech name.
Hello, Hello, I sure am Paulo.
Alto network setsticker PANW closed up about five percent today for its biggest sleep since April. That's after its CEO decided to buy about ten million dollars in shares some insider buying. Oh yeah, oh yeah, And Baird says that they are seeing this as a very high signal vote of confidence in a market that's been over rotating on
AI headlines, which we already know. Software has been very sensitive to anything in AI related trading, and so yeah, it brought at least a little bit of positivity to the software space.
It's down sixteen percent year today.
Correct sounds down thirty percent from buys in October.
Hate to be a bummer, but right, but that's that's.
The AI question or the AI story is like, what's the effect of you know AI, of the AI revolution on a software company like Palo Alton.
And their infrastructure, their security, their you know, data applicate. Like yeah, so that's they're in the nitty gritty of it, but you know, plays into that whole bigger picture where shall we go next.
Cisco ticker s y Y fell fifteen percent at the closing BIL for its worst one day drop since twenty twenty. That's after the food distributor said that it plans to acquire Jetro restaurant depot for about twenty nine billion dollars. Important to note that investors were not really happy about how much debt was related to this deal. They're planning to raise about twenty one billion dollars in debt to
fund the acquisition. Definitely is a lot, and the deal will create one of the largest food distributors in the country. But Wells Fargo is writing that they believe it's overdion.
Ah, did they talk about whether or not like airline food gets better.
That's onclear well The market cap as of now is thirty three point one billion dollars for thirty three point two billion dollars for Cisco Corporation. So this is a pretty big acquisition.
Is there no anti trust concerns? Because these are two big companies like getting together. And I'm not quite sure who else plays in the space because they do it for rest. Really they do it airlines like lots of different things.
I'm just curious.
Restaurants, Yeah, random grocery stores, you know, et cetera. Very like a lot of different places. I will say it wasn't really mentioned in notes, but I would also be something I would ask as well.
I didn't see it anywhere either, so it's kind of interesting to see. Yeah, all right, so it's out there. You didn't answer where our airline food is going to get better?
I do?
Now, what do we do when we're running for a plane, like when we're work and we're traveling together, Well, like gott to get some food before we get on the plane.
Sometimes sometimes I'll get the food.
No, you always will buy a meal like inhale it, eat it, and then we get on the plane and I'm like, you know, snuggling into my little blanket and getting ready to like watch a movie or whatever, and then you're like like are you eating again? Yeah? I kind of done with that though a lot of times they say, donat on an airplane, you're gulping air and it creates tummy shoes and things.
I'm not doing that. That's not what I'm thinking. I'm thinking it's just the sodium content in that food. I'm always so thirsty after and I'm like, yeah, it's so you know, it's so high and salt, you know, Performance Food Group, Gordon's Food Service or other.
Oh, so there are a few others, all right, I have no easy segue, so let's get to it. Fanny May and Freddy Mack.
Yes, Fanny May ticker FNMA and Freddie Mac tick her FMCC. Both of them were on a tear today. Fanny Mack jumped fifty one percent into the close and Freddy Mack was up forty seven percent, both notching very very high. I mean, Fanny May was up for its best day since two thousand and nine. That's after Pershing squares Bill Ackman called them stupidly cheap in a post on x We already know. Once he says something about those stocks,
they tend to go up quite a bit. Keep in mind, both of these trade, you know, over the counter, so they're often quite volatile, but still a big move and he owns them.
True, he doesn't have a stay.
I think he was as of last year. Wasn't he like the biggest shareholder or something like that in these names. I'm just pulling it up here.
Yeah, Pershing Square in Fanny May, he's the number of Pershing Square Capital Management LP is the number one holder.
Single biggest private sector shareholder of the two companies at the end of last year. Yeah. Okay, it's good stuff though, but big moves, right, you definitely saw them. She still did an answer. If you're herline food, it's going to get better.
The Stock Mover's Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app. Mm hmm