Cisco Tumbles, Logistics Plunge, Real Estate Stocks Drop
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Cisco (CSCO) suffered its worst stock decline in more than two years after giving a weaker-than-expected forecast for profitability. The company's adjusted gross margin will be roughly 66% in the quarter that runs through April, which is lower than the 68.2% estimated by analysts.
- Logistics stocks sank Thursday as investors rushed to exit the group amid fears over disruption from artificial intelligence, making it the latest casualty of the “AI scare trade.” The Russell 3000 Trucking Index dropped 7.8%, with CH Robinson Worldwide (CHRW) at one point plunging by a record 24%, and Landstar System falling 18%.
- CBRE Group shares drop as much as 15%, extending losses for a second consecutive day amid ongoing concerns about the impact of artificial-intelligence tools on the industry. The company said during its earnings call that the outlook remains uncertain and it would be ‘possible’ for AI to reduce long-term office space demand
See omnystudio.com/listener for privacy information.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Cisco (CSCO) suffered its worst stock decline in more than two years after giving a weaker-than-expected forecast for profitability. The company's adjusted gross margin will be roughly 66% in the quarter that runs through April, which is lower than the 68.2% estimated by analysts.
- Logistics stocks sank Thursday as investors rushed to exit the group amid fears over disruption from artificial intelligence, making it the latest casualty of the “AI scare trade.” The Russell 3000 Trucking Index dropped 7.8%, with CH Robinson Worldwide (CHRW) at one point plunging by a record 24%, and Landstar System falling 18%.
- CBRE Group shares drop as much as 15%, extending losses for a second consecutive day amid ongoing concerns about the impact of artificial-intelligence tools on the industry. The company said during its earnings call that the outlook remains uncertain and it would be ‘possible’ for AI to reduce long-term office space demand
See omnystudio.com/listener for privacy information.
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