Closing Bell: Amer Sports Rises, Cisco Dips, Chewy Sinks

Today's biggest winners and losers in the stock market.

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.

- Amer Sports (AS) said consumers prioritizing their health and looking for premium products are sustaining demand through an unfavorable economic climate. Amer Sports, home to the Arc’teryx, Salomon and Wilson brands, raised its full-year guidance after first-quarter results beat estimates. Shares rose as much as 8.2% in New York. 

- Cisco (CSCO) shares slipped after Chief Financial Officer Mark Patterson warned that the company would see “ups and downs” with its gross profit margin as it pushes further into AI infrastructure. The company’s move to supply hardware equipment to so-called hyperscalers — the largest data center operators — “comes at a different gross margin play,” he said during a JPMorgan Chase & Co. technology conference.

- Chewy (C) shares slipped in trading on Tuesday, hitting their lowest intraday level since May 2024, after the online pet retailer presented at the JPMorgan Technology, Media & Communications Conference. The company provided some cautious commentary during the event, saying that it’s seeing a more “stretched” consumer now than it did at the beginning of the year.

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