WEBVTT - Seagate Slips, NextEra Lower, Regeneron Tumbles

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers report your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Tim Steinebeck along with Carol Masser. We are joined

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<v Speaker 1>by bloomerg Execti's reporter Alexandra Semenova. She is holding down

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<v Speaker 1>the fort at the Bloomberg Studios at headquarters. Alex What

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<v Speaker 1>are you.

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<v Speaker 3>Watching, hey, guys. So a big unwind continuing to take

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<v Speaker 3>hold in those AI infrastructure names that have been driving

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<v Speaker 3>this rally for the last several weeks. The first company

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<v Speaker 3>that I'm taking a look at today is Seagate Technology.

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<v Speaker 3>Shares there are down about ten percent, which is the

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<v Speaker 3>worst day since last April during the tariff sell off.

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<v Speaker 3>This is after comments from management at a JP Morgan

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<v Speaker 3>conference earlier today saying that they don't think that they'll

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<v Speaker 3>be able to keep up with soaring demand for their chips.

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<v Speaker 3>CEO David Masley said new factories would quote take too long,

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<v Speaker 3>and that is enough to send investors running, taking some

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<v Speaker 3>profits there after a really strong eight weeks for the company.

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<v Speaker 3>This is, of course, submit a toward rally in the

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<v Speaker 3>broader semiconductor sector. Just taking a look today at the

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<v Speaker 3>Philadelphia Semiconductor Stock Exchange Index that is also down four

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<v Speaker 3>point two percent. This is as other memory chip makers

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<v Speaker 3>also fell today.

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<v Speaker 2>Guys.

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<v Speaker 4>All right, so Cgate one of the big laggards in

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<v Speaker 4>the trade today. Yeah, quite a big dip to the downside,

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<v Speaker 4>top gainer, top decliner. Excuse me, in both the S

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<v Speaker 4>and P and the Nasdaq one hundered. All right, let's

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<v Speaker 4>kick it on over to the energy patch. I mean

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<v Speaker 4>this was like bam, a deal in the space today.

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<v Speaker 3>Yeah, mega deal Monday for sure. Next Era Energy agree

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<v Speaker 3>to buy Dominion Energy for about sixty seven billion dollars

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<v Speaker 3>in stock. This is the biggest power acquisition ever. This

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<v Speaker 3>merger creates a giant utility that expands from Florida to

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<v Speaker 3>some of the data centers in Virginia and also underscores

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<v Speaker 3>the insatiable demand for AI infrastructure that is pushing utilities

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<v Speaker 3>to seek greater size and clout amid this surge and

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<v Speaker 3>demand for power, The deal would position next Era as

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<v Speaker 3>the dominant utility in a region that is struggling to

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<v Speaker 3>meet electricity consumption, and Next Era would pay the equivalent

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<v Speaker 3>of about seventy six dollars per share for Dominion. The

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<v Speaker 3>company said this in a statement today, confirming Bloomberg reporting

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<v Speaker 3>that represents a takeover premium of about twenty three percent

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<v Speaker 3>based on Friday's closing price.

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<v Speaker 4>I feel like that's such a sign of the times

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<v Speaker 4>in terms of what's going on. All right, Alex, Let's

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<v Speaker 4>go on over to Regeneron, which is also coming under

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<v Speaker 4>some pressure today.

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<v Speaker 3>Yeah, some disappointing news today for this company. Just taking

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<v Speaker 3>a look at the stock price right now, it's down

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<v Speaker 3>more than ten percent, the worst. Actually, it's been underperforming

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<v Speaker 3>for a while. This is after it failed Phase three testing.

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<v Speaker 3>This led to at least ten analysts downgrades after it

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<v Speaker 3>failed to the testing for its melanoma drug. Biotech was

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<v Speaker 3>aiming to show improvement in patients with metastatic melanoma, but

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<v Speaker 3>they didn't have a statistically significant enough number for how

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<v Speaker 3>long patients lived before their cancer advance compared to competitor

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<v Speaker 3>merks K Truda. Bimo analyst said that this trial was

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<v Speaker 3>a defining moment for the company in the first half

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<v Speaker 3>of twenty twenty six and that sentiment was inextricably tied

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<v Speaker 3>to these results, So that is why the stock is

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<v Speaker 3>down so much today.

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<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

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