Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Let's take a look at some stocks on the move today.
Speaker 2: I'm Karen Moscow. We're joined by Bloomberg's Dan Curtis. Dan.
Speaker 2: Good morning. Hey. Let's start here with in videos and
Speaker 2: some talks about open Ai, and you've got to give
Speaker 2: us the details here.
Speaker 3: That's right, So shares of Nvidia underticker NVDA are up
Speaker 3: about one percent in the pre market, as it's said
Speaker 3: to be in talks provide that two hundred and fifty
Speaker 3: billion dollars backstop for open Ai, according to the Wall
Speaker 3: Street Journal. Report says the guarantee would help secure release
Speaker 3: on a ten gigawap project that SoftBank is developing in
Speaker 3: southern Ohio. According to people familiar, it would help the
Speaker 3: debut rays for the data center l lower rate, as
Speaker 3: open Ai is unprofitable company without an investment grade rating,
Speaker 3: and this is a part of a trend that we've
Speaker 3: seen these bigger companies with better credit ratings coming in
Speaker 3: and helping the smaller companies out. This would cover the
Speaker 3: data center release and the debt needed to fund the
Speaker 3: build out, but not the Nvidia chips that would go inside.
Speaker 3: And overall this data center project could cost more than
Speaker 3: five hundred billion dollars, would be the largest project announced
Speaker 3: to date.
Speaker 1: And to put them into.
Speaker 3: Perspective, ten gigawatts is basically New York City use during
Speaker 3: peak summer conditions when everyone's air conditioners are running. So
Speaker 3: that's a lot of energy here. Crazy that has that
Speaker 3: has the stock up one percent, and in general, we
Speaker 3: are seeing the AI trade up today sk hihinex, there's
Speaker 3: newly less a eightyr six percent sand disc up five percent.
Speaker 3: So we're on the front foot this Monday.
Speaker 2: Morning, all right, And we have a deal that you're
Speaker 2: watching this morning as well involving forty Bioscience.
Speaker 1: That's right.
Speaker 3: So FBRX is the ticker, and the company is being
Speaker 3: bought by our gen X for about two point two
Speaker 3: billion dollars in cash. It's an immunal it's an immunology company,
Speaker 3: and the shares are being bought at seventy seven dollars
Speaker 3: per share. That has the share that has the stock
Speaker 3: just under that level seventy six thirty two in the
Speaker 3: pre market and Forte is developing a promising drug for
Speaker 3: treating vitiligo and ciliac disease and could be used to
Speaker 3: address multiple autoimmune conditions. This comes with Ourgenix looking to
Speaker 3: broaden its immunology footprint, having relied heavily on its blockbuster
Speaker 3: drug on one blockbuster drug for a while. Boards of
Speaker 3: directors of both companies have approved the transaction. It is
Speaker 3: expected to close this quarter.
Speaker 2: Do you have some earnings from Astrozeneca? Yeah?
Speaker 1: So.
Speaker 3: More more drug maker news. The Bridge drug maker had
Speaker 3: reported higher than expected profit void by Blockbuster Cancer Medicines
Speaker 3: that has the ADRs up about one and a half
Speaker 3: percent in the US pre market underticker az and the
Speaker 3: company has been focusing on its next generation of cancer treatments,
Speaker 3: with key drugs topping estimates. In the report. Astra also
Speaker 3: released promising results for an experimental treatment of gastric cancers
Speaker 3: and although it was countered with a disappointment result for
Speaker 3: a rare blood disorder treatment, Astra overall looking to boost
Speaker 3: its cardiovascular portfolio. It has an experimental obesity bill in
Speaker 3: the looks so we are looking for a little bit
Speaker 3: of upside today and the company overall repeated its outlook
Speaker 3: for the year and.
Speaker 2: Tell us why you're watching AT and T this morning
Speaker 2: as well.
Speaker 1: That's right.
Speaker 3: So AT and T ticker T is down about half
Speaker 3: a percent in the pre market, and the company has
Speaker 3: opened its books on a euro and Serling bond offering
Speaker 3: for at least two point two billion dollars. According to
Speaker 3: people familiar, the deal is launching during what is typically
Speaker 3: a quiet time for the European bond market, and the
Speaker 3: last time it raised money in the publicly syndicated market
Speaker 3: was over a year ago, although it tapped the US
Speaker 3: markets in April for about six billion dollars. This is
Speaker 3: on the back of success the stock surge ten percent
Speaker 3: last week, its second best week since twenty twenty two.
Speaker 3: That was spurred by second quarter earnings that showed strong
Speaker 3: mobile subscriber editions. So with a little bit of positive
Speaker 3: positive momentum behind the company, it's now looking to turn
Speaker 3: what would have been a sleepy bond market into something
Speaker 3: a little bit more exciting this summer.
Speaker 2: Can you do thirty seconds on trip dot com because
Speaker 2: it's pretty interesting.
Speaker 3: Here, Absolutely so. Trip dot com, Chinese online travel agent,
Speaker 3: said it received an order from the government regular to
Speaker 3: hault antitrust operations, refund hotel operators, and pay a fine
Speaker 3: of over half a billion dollars. However, shares the ADRs
Speaker 3: are up four percent under tcom us. In January, the
Speaker 3: company ceased to operating the two practices that had been
Speaker 3: flagged Goldman Nodel. Though the penalty was re historically high,
Speaker 3: it should be well covered by the company's liquid holdings.
Speaker 1: This stockmover's report from Bloomberg Radio. Check back with us
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