WEBVTT - Nvidia China Ban; Baidu Jumps; Eli Lilly Lower

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market. Harnessing the power of Bloomberg Data. Let's

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

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Valerie Titel and Valerie

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<v Speaker 3>I have a feeling that Nvidia is going to be

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<v Speaker 3>a stock you're going to be watching throughout this day.

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<v Speaker 1>Good morning, Hey, good Bernie.

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<v Speaker 2>Nathan.

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<v Speaker 1>Yes, it's in the news. Not for good reasons. Nvidia

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<v Speaker 1>is down nearly two percent, down one point eight percent

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<v Speaker 1>so far in pre market trade. Is all on the

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<v Speaker 1>back of an FT report that China's Internet watchdog has

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<v Speaker 1>instructed companies including Ali, Baba and byte Edance to terminate

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<v Speaker 1>orders for one of Navidia's AI chips. This one is

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<v Speaker 1>the RTX pro six thousand D, which sounds pretty cool,

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<v Speaker 1>Nathan if you asked me, but Chinese Chinese firms are

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<v Speaker 1>now banning companies from buying it and asked to also

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<v Speaker 1>these come needs to terminate the testing of the chip. Now,

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<v Speaker 1>this specific chip series isn't regarded as among Navidia's marquee products.

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<v Speaker 1>Those have been banned by Washington from dispersion into China,

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<v Speaker 1>but it's more of a high end chip that's been

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<v Speaker 1>specifically designed for the restricted Chinese market. And the move

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<v Speaker 1>comes after Beijing has escalated a campaign against Navidia's H

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<v Speaker 1>twenty AI chip earlier this year, and also comes two

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<v Speaker 1>days after China has ruled that Navidia has violated anti

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<v Speaker 1>monopoly laws. So it does feel like China is amping

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<v Speaker 1>up the pressure on the world's most valuable company.

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<v Speaker 3>And I see you're watching the US listed shares of

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<v Speaker 3>another Chinese AI company. What's going on with by Dou?

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<v Speaker 1>Yeah, this is where the excitement is. It's all about

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<v Speaker 1>China's own homegrown chip industry really catching some wind in

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<v Speaker 1>its sales. So by Do is up eight percent so

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<v Speaker 1>far in pre market trade. It was up seven percent yesterday,

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<v Speaker 1>and it's around up around forty percent since the start

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<v Speaker 1>of September. There's been recent upgrades from the street about

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<v Speaker 1>their new in house chip venture now. Badu is traditionally

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<v Speaker 1>the largest search engine operator in China, but their online

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<v Speaker 1>advertising business has been struggling. An analysts say that this

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<v Speaker 1>to press stock price versus other peers could add some

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<v Speaker 1>juicy upside potential in its chip and ROBOTAXI ambitions. This

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<v Speaker 1>is more about investors becoming more positive about China's ai

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<v Speaker 1>own AI ambitions.

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<v Speaker 3>Now we are seeing a huge move this morning and

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<v Speaker 3>something of a smaller stock in terms of market cap.

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<v Speaker 3>New Forest Energy is just going gamebusters this morning.

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<v Speaker 1>Yeah, it's up forty three percent. It already was up

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<v Speaker 1>yesterday forty five percent for New Forest Energy. This is

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<v Speaker 1>all on the back of finalizing a seven year deal

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<v Speaker 1>to supply LNG to Puerto Rico and a deal worth

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<v Speaker 1>four billion dollars. Now, this company had been very financially

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<v Speaker 1>constrained recently. It was facing a debt crunch, but that

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<v Speaker 1>is no longer the case now that they signed this

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<v Speaker 1>deal with Puerto Rico. Hence why such a huge move

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<v Speaker 1>in the stock price in the last two days.

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<v Speaker 3>And Eli Lilly is on the move as well this morning,

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<v Speaker 3>kind of a out of consensus call from an analyst.

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<v Speaker 1>Yeah, this one I found really interesting. So Eli Lilly

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<v Speaker 1>is down half of one percent. Novo Nordisk ADRs are

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<v Speaker 1>up one percent, and this is on the back of

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<v Speaker 1>Eli Lilly no longer being the top pick from analysts

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<v Speaker 1>at Berenberg for weight loss market now it's out of consensus,

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<v Speaker 1>but Novo Nordisk is now their favored play. Analyst Carrie

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<v Speaker 1>Holford says in her note that Novo's pipeline isn't being

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<v Speaker 1>fully appreciated. It has fresh ammunition to fight back against

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<v Speaker 1>Lily's zep bound drug falling recent data points in a

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<v Speaker 1>US FDA accelerated approval for its own oral we go

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<v Speaker 1>V drug that could be launched in early twenty twenty six.

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<v Speaker 1>It will further differentiate Novo's a BC offering from Lily,

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<v Speaker 1>but I thought it was important given the backdrop that

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<v Speaker 1>Novo shares have dropped over thirty so far this year.

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<v Speaker 1>Eli Lilly has been flat, but it has been known

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<v Speaker 1>that Eli Lilly is more positive in the weight loss

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<v Speaker 1>drug industry.

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<v Speaker 2>This 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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