Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers report your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: I'm Tim Steinebeck along with Carol Masser. We are joined
Speaker 1: by bloomerg Execti's reporter Alexandra Semenova. She is holding down
Speaker 1: the fort at the Bloomberg Studios at headquarters. Alex What
Speaker 1: are you.
Speaker 3: Watching, hey, guys. So a big unwind continuing to take
Speaker 3: hold in those AI infrastructure names that have been driving
Speaker 3: this rally for the last several weeks. The first company
Speaker 3: that I'm taking a look at today is Seagate Technology.
Speaker 3: Shares there are down about ten percent, which is the
Speaker 3: worst day since last April during the tariff sell off.
Speaker 3: This is after comments from management at a JP Morgan
Speaker 3: conference earlier today saying that they don't think that they'll
Speaker 3: be able to keep up with soaring demand for their chips.
Speaker 3: CEO David Masley said new factories would quote take too long,
Speaker 3: and that is enough to send investors running, taking some
Speaker 3: profits there after a really strong eight weeks for the company.
Speaker 3: This is, of course, submit a toward rally in the
Speaker 3: broader semiconductor sector. Just taking a look today at the
Speaker 3: Philadelphia Semiconductor Stock Exchange Index that is also down four
Speaker 3: point two percent. This is as other memory chip makers
Speaker 3: also fell today.
Speaker 2: Guys.
Speaker 4: All right, so Cgate one of the big laggards in
Speaker 4: the trade today. Yeah, quite a big dip to the downside,
Speaker 4: top gainer, top decliner. Excuse me, in both the S
Speaker 4: and P and the Nasdaq one hundered. All right, let's
Speaker 4: kick it on over to the energy patch. I mean
Speaker 4: this was like bam, a deal in the space today.
Speaker 3: Yeah, mega deal Monday for sure. Next Era Energy agree
Speaker 3: to buy Dominion Energy for about sixty seven billion dollars
Speaker 3: in stock. This is the biggest power acquisition ever. This
Speaker 3: merger creates a giant utility that expands from Florida to
Speaker 3: some of the data centers in Virginia and also underscores
Speaker 3: the insatiable demand for AI infrastructure that is pushing utilities
Speaker 3: to seek greater size and clout amid this surge and
Speaker 3: demand for power, The deal would position next Era as
Speaker 3: the dominant utility in a region that is struggling to
Speaker 3: meet electricity consumption, and Next Era would pay the equivalent
Speaker 3: of about seventy six dollars per share for Dominion. The
Speaker 3: company said this in a statement today, confirming Bloomberg reporting
Speaker 3: that represents a takeover premium of about twenty three percent
Speaker 3: based on Friday's closing price.
Speaker 4: I feel like that's such a sign of the times
Speaker 4: in terms of what's going on. All right, Alex, Let's
Speaker 4: go on over to Regeneron, which is also coming under
Speaker 4: some pressure today.
Speaker 3: Yeah, some disappointing news today for this company. Just taking
Speaker 3: a look at the stock price right now, it's down
Speaker 3: more than ten percent, the worst. Actually, it's been underperforming
Speaker 3: for a while. This is after it failed Phase three testing.
Speaker 3: This led to at least ten analysts downgrades after it
Speaker 3: failed to the testing for its melanoma drug. Biotech was
Speaker 3: aiming to show improvement in patients with metastatic melanoma, but
Speaker 3: they didn't have a statistically significant enough number for how
Speaker 3: long patients lived before their cancer advance compared to competitor
Speaker 3: merks K Truda. Bimo analyst said that this trial was
Speaker 3: a defining moment for the company in the first half
Speaker 3: of twenty twenty six and that sentiment was inextricably tied
Speaker 3: to these results, So that is why the stock is
Speaker 3: down so much today.
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