On this episode of Stock Movers:
- Zoom (ZM) reported quarterly revenue that topped analysts’ estimates, a sign of strength for the software maker’s expanded suite of business tools. Fiscal third-quarter sales increased 4.4% to $1.23 billion, Zoom said Monday in a statement. Profit, excluding some items, was $1.52 a share. Analysts, on average, estimated earnings of $1.44 a share on revenue of $1.21 billion, according to data compiled by Bloomberg. The shares gained about 4% in extended trading after closing Monday at $78.60 in New York. The stock has declined 3.7% this year amid a broader market anxiety toward application software.
- Tesla (TSLA) is nearing the final step of the design process for its AI5 chip and starting work on a new AI6 chip to be deployed in its cars and data centers, Tesla CEO Elon Musk said Sunday in an X post. “Our goal is to bring a new AI chip design to volume production every 12 months,” said Musk, the world’s richest person. “The current version in cars is AI4, we are close to taping out AI5 and are starting work on AI6.” Shares of the EV-maker rallied.
- Tyson Foods (TSN) saw its shares rally after it decided it close a major packing plant in Nebraska. The company on Friday said it was seeking to “right-size its beef business” by ending operations in Lexington, Nebraska, and converting the plant in Amarillo, Texas, to a single shift. About 3,200 workers will be impacted in Lexington and 1,700 in Amarillo, Tyson said.
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