WEBVTT - KB Homes Down, Arm to Sell Its Own Chips, ImmunityBio Plunges

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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 Carol Master along with Tim Stanevik. Let's get to

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<v Speaker 1>some stocks on the move this Tuesday. For that, we're

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<v Speaker 1>joined by Bloomberg News equities reporter Avalon Parnell. She joins

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<v Speaker 1>us here in studio. Let's start with a name that

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<v Speaker 1>actually was moving in the aftermarket.

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<v Speaker 3>Yes, KB Home, that's ticker KBH slighting now about four percent.

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<v Speaker 3>That's after the homebuilder's second quarter forecast trailed estimates basically

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<v Speaker 3>across the board. It also reported revenue and home deliveries

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<v Speaker 3>for the first quarter that slightly missed expectations. Management did

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<v Speaker 3>also mention something that I found interesting, at least in

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<v Speaker 3>the release, that they have concerns surrounding the conflict in

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<v Speaker 3>the Middle East because it's introduced another layer of uncertainty

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<v Speaker 3>for consumers who are already facing several challenges in the

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<v Speaker 3>macro environment. Though of course they say that they're definitely

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<v Speaker 3>able to weather that storm.

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<v Speaker 1>Yes, we'll see right, but this is certainly something on

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<v Speaker 1>a couple of different levels that certainly could impact people

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<v Speaker 1>in terms of purchasing homes.

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<v Speaker 3>Was this the one you forgot to do in your decliners?

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<v Speaker 1>Didn't this earning?

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<v Speaker 2>Oh?

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<v Speaker 3>Yeah, I just came out.

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<v Speaker 1>Yeah see, okay, just making sure you know you were

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<v Speaker 1>going to do one on the home. No, oh, okay,

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<v Speaker 1>I don't know what I'm talking about. Let's just edit

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<v Speaker 1>that out, please, everybody. Let's actually keep that in. That

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<v Speaker 1>was kind of entertaining.

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<v Speaker 3>All right, let's keep going. What about ARM? Yes, ARM

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<v Speaker 3>ticker ARM very easy to remember, gaining about six point

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<v Speaker 3>six percent postmarket. That's after the semiconductor devices firm said

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<v Speaker 3>that it plans to begin selling its own chips for

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<v Speaker 3>the first time in a bid for some additional AI sales.

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<v Speaker 3>Meadow will be the first major customer, and the chips

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<v Speaker 3>will be produced by Taiwan Semiconductor Manufacturing. Also worth noting

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<v Speaker 3>that ARM expects those annual cells from the new chip

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<v Speaker 3>business to be about fifteen billion dollars within five hours.

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<v Speaker 3>The chips are expect to be available now. However, they're

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<v Speaker 3>going to begin shipping at the end of this year.

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<v Speaker 1>Yeah, I mean, we had a great interview from our

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<v Speaker 1>Tom mackenzie talking with the company's CEO. So it's it's interesting.

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<v Speaker 1>I mean, this is certainly something we're watching. And yeah,

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<v Speaker 1>I mean the whole semiconductor right space. I mean it's

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<v Speaker 1>up what about twenty three percent year to date, so

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<v Speaker 1>we've definitely seen moved to the upside. Yeah. Check out, well, no,

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<v Speaker 1>check out Rene Haas's interview on the Bloomberg terminal. As

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<v Speaker 1>Carol mentioned, Tom McKenzie sitting down with him on this Tuesday.

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<v Speaker 1>All right, now for something different.

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<v Speaker 3>Yes, very different. Immunity bioticker iv RX think about twenty

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<v Speaker 3>one percent into the clothes today for its biggest tumble

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<v Speaker 3>since twenty twenty four out for as slightly interesting reason.

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<v Speaker 3>That's after the FDA issued a warning letter to the

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<v Speaker 3>biotech for false and misleading promotion of its bladder cancer

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<v Speaker 3>drug and Kativa. At issue is a recent TV ad

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<v Speaker 3>for the drug and the firms billionaire executive chairman Patrick

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<v Speaker 3>Sun schung rhetoric on the Sean Spicer Show. He said

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<v Speaker 3>the drug could treat all cancers, but as I said earlier,

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<v Speaker 3>it's actually only approved for a very specific kind of

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<v Speaker 3>bladder cancer. Now, the company spokesperson did tell Bloomberg that

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<v Speaker 3>they are taking the FDA's concerns very seriously and they

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<v Speaker 3>intend to respond within the timeframe. But still worth noting

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<v Speaker 3>that that stock remains up nearly two hundred and seventy

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<v Speaker 3>five percent this year.

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<v Speaker 2>The stock Moover's report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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