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Figma Rises, Cerebras Roars After Year's Biggest IPO, Cisco Jumps Most Since 2011
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Figma (FIG) gave an outlook for revenue in the current period that topped analysts’ estimates, touting early traction from charging users directly for AI features. The shares jumped about 10% in extended trading after closing at $20.24 in New York. The stock has declined steadily since the Figma’s blockbuster public offering and is now 39% below the $33-a-share IPO price.
- Cerebras (CRBS) shares jumped 68% in its trading debut after raising $5.5 billion in the year’s largest IPO, illustrating investors’ surging appetite for artificial intelligence data centers and the chips running them. Shares of the Sunnyvale, California-based company pared earlier gains to close at $311.07 each on Thursday in New York, above the $185 IPO price, after being halted earlier for volatility. Cerebras’ first-time share sale raised nearly 60% more than its target when it launched, and priced above a marketed range that was revised higher on Monday.
- Cisco (CSCO) jumped by the most in more than 14 years after the company delivered a better-than-anticipated sales forecast and announced plans to cut thousands of jobs, an attempt to focus on the fast-growing AI market.
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