Stock Movers: Paramount Skydance Surges, Bullish IPO Soars, Cisco's AI Outlook

Market Performance and Key Movers

• 📈 The S&P 500 saw 418 names moving to the upside, with Tech sectors down and Nvidia closing lower, but Apple and Amazon contributed the most points.
• 🚀 Paramount Skydance was the number one gainer in the S&P 500, soaring up nearly 60% intraday and finishing with a gain of just shy of 37% following its merger completion and a new UFC media rights deal.
• 💡 Warner Brothers also showed outperformance, up about 7.5%, with some insider buying reported.
• 💰 Webtune Entertainment jumped 81% after announcing a partnership with Disney to launch 100 comics on its platform and reporting earnings.

Bullish IPO and Digital Assets

• 🚀 Bullish (BLSH), the digital-asset exchange operator and owner of CoinDesk, jumped 132% from its IPO price after raising $1.1 billion, with its IPO being oversubscribed more than 20 times.
• 📈 The company offers crypto spot trading, margin trading, and derivatives trading, focusing on institutional investors, though some products are not available in the US.
• 💡 Bitcoin also reached an all-time high of $122,840 during the trading session.

Cisco's Financial Outlook and AI Impact

• 📉 Cisco provided a lukewarm forecast for the current fiscal year, with sales guidance between $59 billion and $60 billion, which was largely in line with Wall Street estimates but disappointed some investors seeking a stronger AI boost.
• 📊 Cisco reported fiscal fourth-quarter revenue of $14.67 billion and EPS of 99 cents, a modest beat.
• ⚠️ The company's adjusted EPS forecast for the full fiscal year is $4.00 to $4.06, with the street looking for $4.03.
• 💡 Cisco noted significant AI infrastructure orders from web-scale clients, exceeding its original target, but the stock reacted negatively to the overall guidance.

Declining Stocks and Market Pressures

• 📉 Nvidia fell as much as 2.1%, closing lower after Coreweave provided a disappointing earnings outlook, reflecting costs of rapid data center expansion.
• ⚠️ Coreweave reported a wider quarterly loss and a disappointing earnings outlook, citing rapid AI data center expansion and increased spending on acquisitions and new capacity.
• 📉 Cabba shares fell 16.6% after trimming its annual sales guidance and citing slower quarterly sales growth.
• ⚠️ Coherent shares were down 14% due to guidance disappointment.