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. I'm Jim Stanovec along with Carol Master. Let's take a look at some stocks on the move this week. We're joined by Bloomberg Television Markets correspondent Nora Melinda nor A. You're watching the week?
Where do you want to start? A lot happened this week. I feel like there's been a lot to digest.
Yeah, a lot of earnings, Yeah, totally.
Let's start with our best performing stock this week. That was Cisco in the S and P five hundred taker CSCO. Of course, we did see some of its peers being pulled up with it, the stock getting twenty two percent in the past five days alone. This is, of course, after the company delivered better than expected sales forecast. They also did announce plans to cut thousands of jobs. They really want to focus on the fast growing AI market that we've been talking so much about this year and previously.
They did say that the layoffs will affect less than four thousand jobs, but you know, the people are really celebrating the fact that they are really fixating their focus on artificial intelligence, and that's what investors really just want to hear in this moment.
Stock is a fifty three percent year to date.
Cisco. Yeah, go figure, super interesting. No, I mean I think they got the memo and have certainly been all in, let's go to Carvana. Yes, Carvana. So this one on the flip side, shares lower by about fourteen percent this week. This is a stock, of course, that we know tends to be high beta, high momentum, so not uncommon to see volatile swings from a name like this Take our cv NA, So we did see shares of course lower. This is after people are still digesting how they feel
about the margins and the company. Of course, we know also this year they did have some short cellar reports coming out of Gotham City, and so investors are really grappling with how they feel about this name more broadly, and we do know that they did have a stock split that happened to one for five and so or sorry excuse me, five for one, and so unless are still kind of debating how they feel about that, and
of course that also adds some volatility. So this is one of the names selling off with the macro of course, under in the background and everything. One of those speculative names like Carvana you're going to see get hits on fire.
Though during the pandemic, right.
It was that name and a big ground that thing. It's been right over, yeah.
All over, speaking of up and down, but certainly up in a big way.
Intel Intel, Now, this was a pretty interesting week for Intel shares, down about thirteen percent over the past five days.
Seeing it's so not a good week, but it's been on a tick.
It has been on a tear. Now that let's it's gone into context right this week, Yes, we're during the week and then we'll get to the year. Okay, the year though we do see up one hundred and ninety five percent, right, so stark number that we're looking at, but it is on its six straight day of losses we are seeing. Of course, it's broader sell off in artificial intelligence. When people are seeing any sort of risk off sentiment, you're going to see names like Intel getting hit.
But when you think about fundamentals and you think about how the street is viewing it, this is a stock that's really been on its air, but taking a breather. This week.
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