Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today. For that joined by Bloombergs touch on Na.
What are you looking at today, Well, we got to talk about Meta shares. They are up by about three percent after reports the social media Gina is planning layoffs that could effect about twenty percent of its workforce or more. No date has been set for discuts. The magnitude is also a moving target. Nonetheless, in the world of aikopex overshadowing everything else, a reduction in the labor force is welcome by the market, particularly if it comes as a
result of AI productivity. But let's see more on that when the company actually announces something. Again, this is based on a Reuters report without a confirmation for the company. Shares up by three percent this morning. Right, let's stay in the tech space.
What do you have for number two?
Well, where we have a confirmation is actually metas deal with Nebuus and we'll pay about as much as twenty seven billion dollars over the next five years to access AI infrastructure from the cloud provider as it spends aggressively to compete for the top frontier models. Nebuus is a Dutch company listed in the US and so called neocloud
that operates data centers and has a strategic partnership with Nvidia. Separately, Meta also committed to buying as much as fifteen billion dollars in additional capacity that the cloud provider is building for third party clients. So all in all, this represents one of the biggest single contracts for Meta, which tells you you know, two things here that the AI trade is alive and well in parts of the market, and the second one that the war isn't really impact on capex plans just yet, just yet.
Okay, the numbers are big, but that AI story really gets me here because that just I think that pretends other industries as well.
Yeah, I mean, obviously big time.
I mean, so I'm sticking with my strategy or my call that it's a net destroyer of jobs, that being AI versus a net creator. One more dollar.
Tree Dollar Tree shares are up by five percent, really rebounding here from losses in the pre market on a mixed annual outlook, which raised some doubts about its ability to keep winning shoppers with low prices and sell projection for this year of about twenty one billion dollars equates to growth of about seven percent, and that is a slowdown from a gain of ten percent last year overall though for court to profits top to projections, so it looks like the street is coming back saying that maybe
that outlook was just out of abundance of caution in this tough environment. But man, with oil prices up so much and other as you guys mentioned prices too, one would have to really think that Dollar Tree would benefit from that.
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