On this episode of Stock Movers: 

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

- Allbirds (BIRD) shares are surging Wednesday morning after the company said it signed a definitive agreement for a $50 million convertible financing facility and plans to pivot into AI compute infrastructure following its previously announced sale of the Allbirds brand and footwear assets to American Exchange Group. The company's stock went up as much as 461% after the opening bell in reaction to the announcement.

- Snap (SNAP) shares rise as much as 8.9% on Wednesday, after the social-media company announced layoffs of roughly 1,000 full-time employees, or 16% of its global workforce, to reduce costs and achieve profitability, that analysts see as positive. The job cuts and pullback on hiring will reduce Snap’s annualized cost base by more than $500 million by the second half of this year, according to Chief Executive Officer Evan Spiegel.

- Shares of Live Nation sank on Wednesday after a jury found that the Ticketmaster parent had acted as an illegal monopoly over the ticketing industry, according to reports. Live Nation (LYV) did not immediately respond to a request for comment. Shares were down 6.3% on Wednesday.

On this episode of Stock Movers: 
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
- Allbirds (BIRD) shares are surging Wednesday morning after the company said it signed a definitive agreement for a $50 million convertible financing facility and plans to pivot into AI compute infrastructure following its previously announced sale of the Allbirds brand and footwear assets to American Exchange Group. The company's stock went up as much as 461% after the opening bell in reaction to the announcement.
- Snap (SNAP) shares rise as much as 8.9% on Wednesday, after the social-media company announced layoffs of roughly 1,000 full-time employees, or 16% of its global workforce, to reduce costs and achieve profitability, that analysts see as positive. The job cuts and pullback on hiring will reduce Snap&rsquo;s annualized cost base by more than $500 million by the second half of this year, according to Chief Executive Officer Evan Spiegel.
- Shares of Live Nation sank on Wednesday after a jury found that the Ticketmaster parent had acted as an illegal monopoly over the ticketing industry, according to reports. Live Nation (LYV) did not immediately respond to a request for comment. Shares were down 6.3% on Wednesday.

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Listen for five-minute conversations on today's biggest winners and losers in the stock market.&nbsp;
Subscribe for analysis on the companies making news in global equity markets. Episodes are published throughout the day to track stock moves from New York, London, Frankfurt and Paris. Join us for investment news covering technology, energy, finance, health care, communications, industrials, utilities, consumer staples, materials, real estate and more.

Listen for news on today's biggest winners and losers in the stock market.

Stock Movers

Allbirds Soars, Snap Gains on Job Cuts, Live Nation Sinks

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