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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Tim Steneveec along with Carol Masser. Let's take a look at some stocks on the move today. We're joined by Bloomberg News Equities reporter Alexandra Semenova. Some late breaking news.
Yeah, just when we thought an eventful trading day was over, we have some really big news coming out from the media space. We have the Wall Street Journal reporting that Paramount, Comcast, Netflix are all preparing bids for a takeover of Warner Brothers Discovery. Just looking at the initial report right now, it says that this is according to people familiar with the discussions. The initial deadline to submit a non binding first round of bids is November twentieth, so that's really
quite soon. And the report also says that Warner Discovery wants this completed by the end of the year, so really fast paced on this. And also just taking a look right now at the share move on Warner Brothers, it looks like it's up and after hours trading. We also have the eight K right now it says that CEO David Zasloff agreed to amend his employment packed here
they're also initiating review of all of their options. Yeah, exactly, so to be a big one in this media saga that we've been seeing time and.
Time out and about Warner Brothers. Discovery up about three point two percent here in the aftermarket. All right, let's go to one name that we talked about a lot today. Actually twenty four hours ago they were reporting their earnings after the close, but today we got market reaction, and that is Cisco.
Yeah.
Something ironic about talking about Cisco to time when everyone is comparing this time to the nineteen ninety nine dot com bus. But that stock is actually was doing well today. It shares gained after it boosted its twenty twenty six forecast, showing progress in its effort to capture AI spending. The companies, of course, the top maker of machines that run networks and the Internet, as we know from the Internet boom, It now expects sales of as much as sixty one
billion dollars in the fiscal year ending in July. That is one billion dollars more than previously expected. The stock rows four point six percent today and it's about thirty one percent a year to date. It's a really solid run for this company that obviously was such a big focus.
And I think about Wujinho of our Bloomberg Intelligence team. We talked about the earnings after they came out on late Wednesday, and you know what's interesting is, yes, they are, you know, looking to expand upon their AI exposure. But what might be a saving grace if indeed we see a pullback because of concerns over AI this spend that they could actually be insulated a little bit from them because they're not as much exposed even as they move
to increase that exposure. So it's kind of interesting.
What can you hear me? Now?
Very fun?
Was that Verizon? Was it for?
Was it?
Yeah?
Oh? Ari? Our producer says, yes, can you thank you?
Ari? He knows everything.
I hasn't seen one of those commercials in the very time.
I've never even I they're talking about. I don't even know if they do that. They probably don't do that anymore. But I'm dating myself here, Guys.
Can you hear I know that commercial? Yeah? Unfortunately for them, though some pretty bad news today. They are expecting job cuts very interesting at a time that we don't have a job's report to be seeing these announcements from corporations kind of getting a sense of what the labor market is looking at. And this report right now says that the layoffs aren't expected to affect Verizon's unionized employees and including those who work in smaller retail stores, but the
cuts could get pretty aggressive. The reduction could impact ten to fifteen thousand workers, according to people familiar with the matter. And this is part of really aggressive efforts by the new CEO, Dan Shulman. He recently unveiled plans to reclaim market share for the company, and here he is acting accordingly. The stock ended down and died about flat today.
Yeah.
I always think about when we see this, it's like, oh, that's part of you know, changes, restructuring and whatever. But it's people losing jobs.
Yeah, it's really unfortunate.
But look on a day when the markets fell, the stock was in the grain, people are okay, you know, investors, vures are.
Still responding positively to any kind of spending reductions by firms.
Okay, mm hmm.
You want to do this story, You want to do this story all day Yeah, she's waiting for Apple without She's waiting for Apple car play in her Tesla.
That's what she's waiting for. That's exactly what I'm waiting for.
I have to admit, guys, today is the first time I'm learning about the word infotainment for you.
Why you know?
Why?
Why?
Because you're a New Yorker?
That's true?
And what does that mean?
Do you drive?
I think I've mentioned on the show that I don't have a driver's license.
I don't drive it all.
I don't drive it at all.
No, she doesn't have a license.
To you, I grew up.
What did you say? What did you say to her?
What's wrong?
She's wrong with her? She lives in New York City. It's the only city in the country you can live in and not you need to license.
You know, it's so true.
I'm here for you, my daughter, Jersey, I do, but I'm pre California. Ybody driver's license is there?
Yeah, but it's true.
Kids who like grow up and it's like, yeah, it's not that.
I never wanted to learn. I yes, like never prioritized it because we were always taking the subways. We always had one friend who had a car and we kind of got away with not driving.
I love that, all right, what do you get quickly?
Well, this one is a big scoop from Mark German and Ed Ludlow here dynamic. Apparently Tesla is developing support for Apple's car Play system and its vehicles. This is according to people with knowledge of the matter. This is still private information that is being worked out. The car
maker has started testing this capability internally. The car Play platform, which was long supported by other vehicles, is now you know, this effort is now happening with Tesla shows users a version of the iPhone software that is optimized for vehicle entertainment systems. As we just spoke about it. Pretty big news here for Tesla. Positive and I'm so glad this is part of your vocut I know, so smart. Maybe
just holding off for self driving vehicles. I think we're making enough advancements and that feels that maybe I'll get luck in We'll.
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