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Closing Bell: Meta Climbs on Muse Spark, Levi's Soars, Exxon Loses 6% of Global Production
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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.
- Meta Platforms (META) shares closed 6.5% higher on Wednesday after the company introduced Muse Spark, a new multimodal reasoning model and the first in its Muse family, as the company steps up efforts to build what it calls "personal superintelligence."
- Levi Strauss (LEVI) shares closed 10.65% higher, and soared as much as 16% in the intraday, after the apparel company boosted its adjusted earnings-per-share and revenue forecasts for the full year. The denim company also reported first-quarter earnings and sales that topped estimates.
- Exxon Mobil (XOM) shares dropped. Exxon Mobil said it lost 6% of its global production in the first quarter due to the Iran war. The company said two LNG production lines at a facility in Qatar were damaged by Iranian missile strikes and the damage will take a prolonged period to repair.
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