WEBVTT - Nvidia-OpenAI Financing; Forte Soars; AT&T Bond Offering

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>Let's take a look at some stocks on the move today.

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<v Speaker 2>I'm Karen Moscow. We're joined by Bloomberg's Dan Curtis. Dan.

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<v Speaker 2>Good morning. Hey. Let's start here with in videos and

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<v Speaker 2>some talks about open Ai, and you've got to give

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<v Speaker 2>us the details here.

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<v Speaker 3>That's right, So shares of Nvidia underticker NVDA are up

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<v Speaker 3>about one percent in the pre market, as it's said

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<v Speaker 3>to be in talks provide that two hundred and fifty

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<v Speaker 3>billion dollars backstop for open Ai, according to the Wall

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<v Speaker 3>Street Journal. Report says the guarantee would help secure release

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<v Speaker 3>on a ten gigawap project that SoftBank is developing in

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<v Speaker 3>southern Ohio. According to people familiar, it would help the

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<v Speaker 3>debut rays for the data center l lower rate, as

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<v Speaker 3>open Ai is unprofitable company without an investment grade rating,

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<v Speaker 3>and this is a part of a trend that we've

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<v Speaker 3>seen these bigger companies with better credit ratings coming in

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<v Speaker 3>and helping the smaller companies out. This would cover the

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<v Speaker 3>data center release and the debt needed to fund the

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<v Speaker 3>build out, but not the Nvidia chips that would go inside.

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<v Speaker 3>And overall this data center project could cost more than

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<v Speaker 3>five hundred billion dollars, would be the largest project announced

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<v Speaker 3>to date.

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<v Speaker 1>And to put them into.

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<v Speaker 3>Perspective, ten gigawatts is basically New York City use during

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<v Speaker 3>peak summer conditions when everyone's air conditioners are running. So

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<v Speaker 3>that's a lot of energy here. Crazy that has that

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<v Speaker 3>has the stock up one percent, and in general, we

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<v Speaker 3>are seeing the AI trade up today sk hihinex, there's

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<v Speaker 3>newly less a eightyr six percent sand disc up five percent.

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<v Speaker 3>So we're on the front foot this Monday.

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<v Speaker 2>Morning, all right, And we have a deal that you're

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<v Speaker 2>watching this morning as well involving forty Bioscience.

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<v Speaker 1>That's right.

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<v Speaker 3>So FBRX is the ticker, and the company is being

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<v Speaker 3>bought by our gen X for about two point two

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<v Speaker 3>billion dollars in cash. It's an immunal it's an immunology company,

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<v Speaker 3>and the shares are being bought at seventy seven dollars

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<v Speaker 3>per share. That has the share that has the stock

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<v Speaker 3>just under that level seventy six thirty two in the

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<v Speaker 3>pre market and Forte is developing a promising drug for

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<v Speaker 3>treating vitiligo and ciliac disease and could be used to

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<v Speaker 3>address multiple autoimmune conditions. This comes with Ourgenix looking to

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<v Speaker 3>broaden its immunology footprint, having relied heavily on its blockbuster

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<v Speaker 3>drug on one blockbuster drug for a while. Boards of

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<v Speaker 3>directors of both companies have approved the transaction. It is

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<v Speaker 3>expected to close this quarter.

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<v Speaker 2>Do you have some earnings from Astrozeneca? Yeah?

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<v Speaker 1>So.

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<v Speaker 3>More more drug maker news. The Bridge drug maker had

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<v Speaker 3>reported higher than expected profit void by Blockbuster Cancer Medicines

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<v Speaker 3>that has the ADRs up about one and a half

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<v Speaker 3>percent in the US pre market underticker az and the

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<v Speaker 3>company has been focusing on its next generation of cancer treatments,

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<v Speaker 3>with key drugs topping estimates. In the report. Astra also

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<v Speaker 3>released promising results for an experimental treatment of gastric cancers

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<v Speaker 3>and although it was countered with a disappointment result for

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<v Speaker 3>a rare blood disorder treatment, Astra overall looking to boost

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<v Speaker 3>its cardiovascular portfolio. It has an experimental obesity bill in

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<v Speaker 3>the looks so we are looking for a little bit

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<v Speaker 3>of upside today and the company overall repeated its outlook

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<v Speaker 3>for the year and.

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<v Speaker 2>Tell us why you're watching AT and T this morning

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<v Speaker 2>as well.

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<v Speaker 1>That's right.

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<v Speaker 3>So AT and T ticker T is down about half

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<v Speaker 3>a percent in the pre market, and the company has

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<v Speaker 3>opened its books on a euro and Serling bond offering

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<v Speaker 3>for at least two point two billion dollars. According to

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<v Speaker 3>people familiar, the deal is launching during what is typically

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<v Speaker 3>a quiet time for the European bond market, and the

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<v Speaker 3>last time it raised money in the publicly syndicated market

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<v Speaker 3>was over a year ago, although it tapped the US

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<v Speaker 3>markets in April for about six billion dollars. This is

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<v Speaker 3>on the back of success the stock surge ten percent

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<v Speaker 3>last week, its second best week since twenty twenty two.

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<v Speaker 3>That was spurred by second quarter earnings that showed strong

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<v Speaker 3>mobile subscriber editions. So with a little bit of positive

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<v Speaker 3>positive momentum behind the company, it's now looking to turn

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<v Speaker 3>what would have been a sleepy bond market into something

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<v Speaker 3>a little bit more exciting this summer.

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<v Speaker 2>Can you do thirty seconds on trip dot com because

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<v Speaker 2>it's pretty interesting.

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<v Speaker 3>Here, Absolutely so. Trip dot com, Chinese online travel agent,

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<v Speaker 3>said it received an order from the government regular to

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<v Speaker 3>hault antitrust operations, refund hotel operators, and pay a fine

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<v Speaker 3>of over half a billion dollars. However, shares the ADRs

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<v Speaker 3>are up four percent under tcom us. In January, the

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<v Speaker 3>company ceased to operating the two practices that had been

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<v Speaker 3>flagged Goldman Nodel. Though the penalty was re historically high,

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<v Speaker 3>it should be well covered by the company's liquid holdings.

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<v Speaker 1>This stockmover's report from Bloomberg Radio. Check back with us

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<v Speaker 1>throughout the day for the latest roundup of companies making

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<v Speaker 1>news on Wall Street and for the latest market moving headlines.

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