On this episode of Stock Movers:
- Block (XYZ) shares jump after the company announced that it's cutting 4,000 employees, reducing its workforce by nearly half, in a move the company describes as a bet on artificial intelligence changing the future of labor productivity.
- Trump Media & Technology (DJT) shares are up after the company said it is in talks to spin off businesses including Truth Social into a new public company following its pending merger with TAE Technologies.
- CoreWeave (CRWV) shares slide after a bigger-than-expected loss and boosting capital expenditures. CoreWeave has been taking on more debt to fund projects and is looking to raise about $8.5 billion from banks to help finance a build-out of cloud computing capacity for Meta.
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