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 3: Let's take a look now at some of the stocks
Speaker 3: on the move today. I'm Karen Moscow. We're joined by
Speaker 3: a Bloombergy Stocks reporter, Isabelle Lee. Isabelle, Good morning, and
Speaker 3: we're starting off today A mega pharma deal, A possibility
Speaker 3: of that happening to start up us off on a
Speaker 3: Monday morning. What are you talking about here?
Speaker 1: Good morning, Karen. It is indeed a mega merger for
Speaker 1: this Monday. I mean it's still in talks, but if
Speaker 1: it does happen, it'll be the it would rack us
Speaker 1: the largest ever pharma deal. This is Bristol Meyer and Astroseneca.
Speaker 1: And you see the shares of asergenicas actually down in
Speaker 1: pre market trade by around four and a half percent
Speaker 1: if I'm looking at this correctly. Sometimes on a Monday morning,
Speaker 1: I'm a little skeptical with my eyes. But the companies
Speaker 1: said they've held early stage discuss about combining, and then
Speaker 1: you see that it's really unclear if discussions are ongoing
Speaker 1: or whether they will result in a transaction. This is
Speaker 1: according to people familiar with the matter. But the thing
Speaker 1: to note is that these are two cancer powerhouses, and
Speaker 1: they would form the world's biggest drug maker with about
Speaker 1: one hundred and seven billion dollars in annual revenue if
Speaker 1: this happens. Analysts the work questioning whether it's this transaction
Speaker 1: would even make sense because Astroseneca is really fast growing,
Speaker 1: so maybe it can do it on its own. But
Speaker 1: you see the stock they're kind of moving in the
Speaker 1: opposite direction now, Karen.
Speaker 3: All right, Well, we're also watching chip stocks following last
Speaker 3: month's route. I mean the Philadelphia Stock Exchange Semiconductor Index.
Speaker 3: That was a pretty good plunge last month. What are
Speaker 3: you looking at here?
Speaker 1: It is a pretty good plunge. I think it's actually
Speaker 1: the worst month since two thousand and eight. They entered
Speaker 1: bear market territory around mid month, and that's when you
Speaker 1: drop more than twenty percent from their late June record high.
Speaker 1: Even in Vidia, actually actually even Intel, it was the
Speaker 1: worst major chip name in July. In Vidia, I got
Speaker 1: ahead of myself. This is the stand. That's why I
Speaker 1: got excited. It's essentially flat on the month, but then
Speaker 1: compared to all of its other peers. It's definitely a
Speaker 1: good month for them. I think the key backdrop is
Speaker 1: really July and Mark a severe de rating in the
Speaker 1: Semis trade. I mean, you saw the socks again, worse
Speaker 1: months since GFC, Intel burying the brunt of that run,
Speaker 1: and I think that's really just momentum reversal. I mean,
Speaker 1: Nvidia demonstrated a lot of resilience. It's still flat, but
Speaker 1: I mean it's a new month now, Karen, And if
Speaker 1: you're looking at Intel, it's down by just seven ten
Speaker 1: to one percent in pre market trade.
Speaker 3: All right, it is a new month, as you said,
Speaker 3: but the earnings do continue. And how exciting we're going
Speaker 3: to hear from SpaceX. That's a big eie that comes tomorrow.
Speaker 1: Definitely a biggie and definitely exciting because so it's the
Speaker 1: ernest calls four thirty pm ET. This is SpaceX first
Speaker 1: earnings report as a public company. And Bloomberg's Lauren grashe's
Speaker 1: covered SpaceX for a while now. She was she appeared
Speaker 1: on the weekend show and she said, never has she
Speaker 1: gotten this much access because for the longest time. Of course,
Speaker 1: it's a private company, so everyone will be looking at
Speaker 1: the gauge of progress on Starship, on Starlink, on AI
Speaker 1: infrastructure companies long term growth. I mean, it's SpaceX down
Speaker 1: thirty percent since it went public, so definitely not that
Speaker 1: doesn't bode well for the company. But also I mean
Speaker 1: it's going to be intense because it's the end of
Speaker 1: a lock up of the insider owned stock loan, so
Speaker 1: we're definitely going to see a lot of volatility there.
Speaker 1: For the SPA six shares, it's down by seven tens
Speaker 1: of one percent. Another question is well Elon Musk be
Speaker 1: in the earnings. I mean, you would imagine he would be,
Speaker 1: especially it's the first, but honestly, everything in that company
Speaker 1: is quite hard to predict.
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