1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:16,919 Speaker 2: the stock market. Harnessing the power of Bloomberg Data. Let's 4 00:00:16,920 --> 00:00:18,759 Speaker 2: take a look at some stocks on the move today. 5 00:00:18,800 --> 00:00:22,480 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel and Valerie 6 00:00:22,520 --> 00:00:24,599 Speaker 3: I have a feeling that Nvidia is going to be 7 00:00:24,680 --> 00:00:27,200 Speaker 3: a stock you're going to be watching throughout this day. 8 00:00:27,240 --> 00:00:28,680 Speaker 1: Good morning, Hey, good Bernie. 9 00:00:28,800 --> 00:00:29,040 Speaker 2: Nathan. 10 00:00:29,160 --> 00:00:31,680 Speaker 1: Yes, it's in the news. Not for good reasons. Nvidia 11 00:00:31,800 --> 00:00:34,320 Speaker 1: is down nearly two percent, down one point eight percent 12 00:00:34,360 --> 00:00:36,960 Speaker 1: so far in pre market trade. Is all on the 13 00:00:37,000 --> 00:00:41,200 Speaker 1: back of an FT report that China's Internet watchdog has 14 00:00:41,240 --> 00:00:45,559 Speaker 1: instructed companies including Ali, Baba and byte Edance to terminate 15 00:00:45,680 --> 00:00:48,960 Speaker 1: orders for one of Navidia's AI chips. This one is 16 00:00:49,000 --> 00:00:52,400 Speaker 1: the RTX pro six thousand D, which sounds pretty cool, 17 00:00:52,440 --> 00:00:56,200 Speaker 1: Nathan if you asked me, but Chinese Chinese firms are 18 00:00:56,200 --> 00:00:59,560 Speaker 1: now banning companies from buying it and asked to also 19 00:00:59,640 --> 00:01:02,800 Speaker 1: these come needs to terminate the testing of the chip. Now, 20 00:01:02,840 --> 00:01:08,199 Speaker 1: this specific chip series isn't regarded as among Navidia's marquee products. 21 00:01:08,319 --> 00:01:14,839 Speaker 1: Those have been banned by Washington from dispersion into China, 22 00:01:14,880 --> 00:01:17,480 Speaker 1: but it's more of a high end chip that's been 23 00:01:17,520 --> 00:01:20,920 Speaker 1: specifically designed for the restricted Chinese market. And the move 24 00:01:21,360 --> 00:01:25,480 Speaker 1: comes after Beijing has escalated a campaign against Navidia's H 25 00:01:25,600 --> 00:01:29,560 Speaker 1: twenty AI chip earlier this year, and also comes two 26 00:01:29,640 --> 00:01:33,440 Speaker 1: days after China has ruled that Navidia has violated anti 27 00:01:33,560 --> 00:01:36,360 Speaker 1: monopoly laws. So it does feel like China is amping 28 00:01:36,440 --> 00:01:39,520 Speaker 1: up the pressure on the world's most valuable company. 29 00:01:39,760 --> 00:01:42,920 Speaker 3: And I see you're watching the US listed shares of 30 00:01:42,959 --> 00:01:46,160 Speaker 3: another Chinese AI company. What's going on with by Dou? 31 00:01:46,560 --> 00:01:49,120 Speaker 1: Yeah, this is where the excitement is. It's all about 32 00:01:49,720 --> 00:01:53,120 Speaker 1: China's own homegrown chip industry really catching some wind in 33 00:01:53,120 --> 00:01:55,720 Speaker 1: its sales. So by Do is up eight percent so 34 00:01:55,800 --> 00:01:59,160 Speaker 1: far in pre market trade. It was up seven percent yesterday, 35 00:01:59,680 --> 00:02:02,559 Speaker 1: and it's around up around forty percent since the start 36 00:02:02,600 --> 00:02:06,160 Speaker 1: of September. There's been recent upgrades from the street about 37 00:02:06,160 --> 00:02:10,280 Speaker 1: their new in house chip venture now. Badu is traditionally 38 00:02:10,320 --> 00:02:13,320 Speaker 1: the largest search engine operator in China, but their online 39 00:02:13,360 --> 00:02:16,760 Speaker 1: advertising business has been struggling. An analysts say that this 40 00:02:16,880 --> 00:02:20,120 Speaker 1: to press stock price versus other peers could add some 41 00:02:20,240 --> 00:02:24,320 Speaker 1: juicy upside potential in its chip and ROBOTAXI ambitions. This 42 00:02:24,360 --> 00:02:28,720 Speaker 1: is more about investors becoming more positive about China's ai 43 00:02:29,240 --> 00:02:30,600 Speaker 1: own AI ambitions. 44 00:02:31,000 --> 00:02:33,680 Speaker 3: Now we are seeing a huge move this morning and 45 00:02:34,160 --> 00:02:36,839 Speaker 3: something of a smaller stock in terms of market cap. 46 00:02:37,000 --> 00:02:40,480 Speaker 3: New Forest Energy is just going gamebusters this morning. 47 00:02:40,760 --> 00:02:44,280 Speaker 1: Yeah, it's up forty three percent. It already was up 48 00:02:44,360 --> 00:02:47,880 Speaker 1: yesterday forty five percent for New Forest Energy. This is 49 00:02:47,919 --> 00:02:51,200 Speaker 1: all on the back of finalizing a seven year deal 50 00:02:51,800 --> 00:02:55,119 Speaker 1: to supply LNG to Puerto Rico and a deal worth 51 00:02:55,240 --> 00:02:58,559 Speaker 1: four billion dollars. Now, this company had been very financially 52 00:02:59,320 --> 00:03:02,920 Speaker 1: constrained recently. It was facing a debt crunch, but that 53 00:03:03,040 --> 00:03:05,280 Speaker 1: is no longer the case now that they signed this 54 00:03:05,360 --> 00:03:08,239 Speaker 1: deal with Puerto Rico. Hence why such a huge move 55 00:03:08,280 --> 00:03:09,800 Speaker 1: in the stock price in the last two days. 56 00:03:10,080 --> 00:03:13,680 Speaker 3: And Eli Lilly is on the move as well this morning, 57 00:03:13,760 --> 00:03:16,519 Speaker 3: kind of a out of consensus call from an analyst. 58 00:03:16,760 --> 00:03:19,000 Speaker 1: Yeah, this one I found really interesting. So Eli Lilly 59 00:03:19,160 --> 00:03:22,360 Speaker 1: is down half of one percent. Novo Nordisk ADRs are 60 00:03:22,440 --> 00:03:24,600 Speaker 1: up one percent, and this is on the back of 61 00:03:25,120 --> 00:03:28,280 Speaker 1: Eli Lilly no longer being the top pick from analysts 62 00:03:28,280 --> 00:03:31,400 Speaker 1: at Berenberg for weight loss market now it's out of consensus, 63 00:03:31,400 --> 00:03:34,800 Speaker 1: but Novo Nordisk is now their favored play. Analyst Carrie 64 00:03:34,840 --> 00:03:38,360 Speaker 1: Holford says in her note that Novo's pipeline isn't being 65 00:03:38,400 --> 00:03:42,000 Speaker 1: fully appreciated. It has fresh ammunition to fight back against 66 00:03:42,040 --> 00:03:45,520 Speaker 1: Lily's zep bound drug falling recent data points in a 67 00:03:45,840 --> 00:03:49,640 Speaker 1: US FDA accelerated approval for its own oral we go 68 00:03:49,800 --> 00:03:52,320 Speaker 1: V drug that could be launched in early twenty twenty six. 69 00:03:52,400 --> 00:03:56,040 Speaker 1: It will further differentiate Novo's a BC offering from Lily, 70 00:03:56,080 --> 00:03:57,840 Speaker 1: but I thought it was important given the backdrop that 71 00:03:57,880 --> 00:04:01,160 Speaker 1: Novo shares have dropped over thirty so far this year. 72 00:04:01,200 --> 00:04:03,720 Speaker 1: Eli Lilly has been flat, but it has been known 73 00:04:03,800 --> 00:04:05,839 Speaker 1: that Eli Lilly is more positive in the weight loss 74 00:04:05,920 --> 00:04:06,960 Speaker 1: drug industry. 75 00:04:07,960 --> 00:04:12,000 Speaker 2: This stock Moover's report from Bloomberg Radio. Check back with 76 00:04:12,080 --> 00:04:14,640 Speaker 2: us throughout the day for the latest roundup of companies 77 00:04:14,720 --> 00:04:17,840 Speaker 2: making news on Wall Street and for the latest market 78 00:04:17,839 --> 00:04:22,320 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 79 00:04:22,400 --> 00:04:25,919 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 80 00:04:25,960 --> 00:04:27,440 Speaker 2: the Bloomberg Business app.