Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market harnessing the power of Bloomberg Data.
Speaker 1: Now, let's take a look at some of the stocks
Speaker 1: on the move today in Europe. I'm Lizzieberdan in London
Speaker 1: with Stephen Carroll in Brussels, and we're joined by Bloomberg
Speaker 1: reporter Chloe Melly. Chloe, good morning. I want to start
Speaker 1: with st Micro, rising to highes on this bullish outlook
Speaker 1: for artificial intelligence.
Speaker 3: Yeah, absolutely so, more AI enthusiasm. It never never stops.
Speaker 3: So we have a st Micro almost doubling its guidance
Speaker 3: for data center revenues for this year, and so it
Speaker 3: now targets one billion dollars in revenue in Before that
Speaker 3: it had targeted something that it said nicely above five
Speaker 3: hundred million. So that's a huge boost and that is
Speaker 3: thanks of course to this surging demand for AI infrastructure,
Speaker 3: and the company said that that could go even further,
Speaker 3: said that revenues for that part of the business could
Speaker 3: also double in twenty twenty seven if that demand it continues.
Speaker 3: It's really interesting for st Micro because it was not
Speaker 3: positioned well into this AI boom to begin with, but
Speaker 3: rather had to kind of pivot into it. So it's
Speaker 3: known primarily as a supplier of chips to the automotive
Speaker 3: and consumer electronics sectors, so Tesla and Apple being two
Speaker 3: very big customers for st Micro, but the CEO has
Speaker 3: led this expansion more into aimoint data centers and st
Speaker 3: Micro announced a deal this year to supply semiconductors to Amazon,
Speaker 3: for example. And so this seems that that bet into
Speaker 3: pivoting into AI is paying off very very well for
Speaker 3: that company. And so we are seeing the shares up
Speaker 3: very strongly this morning.
Speaker 2: And let's turn to Process next surging this morning as well.
Speaker 1: What's driving that rise?
Speaker 3: So this is another AI story there for Process, so
Speaker 3: up very strongly thanks to its shareholding. Intensen, so tensent
Speaker 3: to the Chinese Internet giant doing very well because it's
Speaker 3: set to launch an AI agent on the very popular
Speaker 3: wee chat service, and so it's seen as a confirmation
Speaker 3: that all of those AI efforts are paying off working
Speaker 3: for that company and that it might be able to
Speaker 3: catch up with rivals in that very competitive space. So
Speaker 3: Tensen is said to be beginning a compliance process for
Speaker 3: this very soon as soon as this month, and then
Speaker 3: to test that AI agent on a small group of
Speaker 3: users before starting an actual rollout, so it could be
Speaker 3: coming very very soon. And so that gave a huge
Speaker 3: boost to the stock in Hong Kong. And so we're
Speaker 3: seeing Process reap the benefits of that as a kind
Speaker 3: of knock on effect because it owns about twenty percent
Speaker 3: of tens.
Speaker 1: And finally, Applevacs, which not everyone may know. This is
Speaker 1: a French biotech firm. It's sinking this morning, which is
Speaker 1: probably an understatement, question marks every one of its new drugs.
Speaker 3: Yeah, this is a big reversal of fortunes for this
Speaker 3: French biotech company. It had seen a really major rally
Speaker 3: in the shares recently because it had a very promising
Speaker 3: drug or what look like a very promising drug, and
Speaker 3: listen investors that expected that the trial results from this
Speaker 3: drug would prompt takeover offers from really big companies in
Speaker 3: that pharmaceutical sector. But now we have the trial results
Speaker 3: and there's a bit of a problem there. So this
Speaker 3: is a drug used to treat an inflammatory bowel disease
Speaker 3: and it was more effective than expected in the study,
Speaker 3: but Abyvex also reported cancer cases in several patients, and
Speaker 3: so that means a much more complicated path to regulatory approval,
Speaker 3: even if the cancers are not related at all to
Speaker 3: the treatment itself. And so we've seen the shares in
Speaker 3: the American chares in ABIVX jumped and then plunging, and
Speaker 3: then today in Paris they are plummeting, as you say,
Speaker 3: completely sinking. And so going Forward and Lissa are a
Speaker 3: bit divided on what this means for the company. Some
Speaker 3: are saying that the overhang will be difficult to move past,
Speaker 3: and then others are saying that it's actually more noise
Speaker 3: than anything else. So we'll see how the shares settle,
Speaker 3: but for now they're taking a really, really major hit
Speaker 3: after those trial results.
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