Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: I'm Jim Stadeveek along with Carol Masser. Let's take a
Speaker 1: look at some stocks on the move today with us
Speaker 1: as Bloomberg News cross Asset reporter Emily Graffeo. She joins
Speaker 1: us here in the studio. Everything in the green, So
Speaker 1: what you have today?
Speaker 3: I don't have everything in the green, but we can
Speaker 3: start with a stock that is up, tim Oracle ticker
Speaker 3: o RCL. It's up about seven percent. It's still down
Speaker 3: fifteen percent on the month. But we did recently get
Speaker 3: news that TikTok is said it's being bought by a
Speaker 3: group of buyers led by the software company Oracle, and
Speaker 3: the TikTok CEO told employees that Byte Dance, their parent company,
Speaker 3: signed binding agreements to create a joint venture majority owned
Speaker 3: by American investors, including Oracle. This is a according to
Speaker 3: an Eternal memo reviewed by Bloomberg. The kind of question
Speaker 3: mark here is whether Chinese regulators will approve the transaction
Speaker 3: in order for the deal to proceed. But when you
Speaker 3: look at what analysts are saying this will drive revenue
Speaker 3: for Oracle's cloud infrastructure business.
Speaker 1: And then are they getting the algorithm? So okay, So
Speaker 1: the new arrangement will license the algorithms used from ByteDance
Speaker 1: and have additional oversight, with Oracle overseeing the process. It remains,
Speaker 1: though unclear how effectively it constrain subtler forms of influence, though.
Speaker 1: Dave Lee of Bloomberg Opinion, who's covered tech for years,
Speaker 1: alan the column just in the last forty five minutes.
Speaker 1: It's a must read on the terminal. But good news
Speaker 1: for Oracles.
Speaker 3: Yeah, there's another Oracle headline, the TikTok news, probably moving
Speaker 3: the stock up more. But we also got coming today
Speaker 3: Michigan regulators unanimously approved a request from utility DTE Energy
Speaker 3: to power a massive data center development planned by Oracle
Speaker 3: and Open AI. I think we drive that stock us.
Speaker 2: I agree with you.
Speaker 1: I think that's important because the stock was up out
Speaker 1: of the gate right in a big way. I mean,
Speaker 1: it's up a lot more, but I agree with you
Speaker 1: that I think that certainly provides.
Speaker 2: Some momentum in terms of the AI play.
Speaker 1: Okay, that's momentum to the upside, a little momentum to
Speaker 1: the downside unfortunately for Nike today.
Speaker 3: That's right, Yeah, this is a four straight day that
Speaker 3: the sportswear retailer is dropping. It's lost over ten billion
Speaker 3: in market cap just today. Biggest drops since April. Tiger
Speaker 3: nk E. We all know this company. Well, it's down
Speaker 3: about eleven percent right now. The third quarter guidance disappointed investors.
Speaker 3: So they had earnings on Thursday. They said that sales
Speaker 3: will decline this quarter a mid weakness in China and
Speaker 3: then also weakness in the Converse brand, so people not
Speaker 3: wanting to buy up Converse. Sneakers are very personal.
Speaker 1: Yeah, I don't know, Yeah, yeah, I mean people have
Speaker 1: multiple pairs of sneakers, so I mean there's a do
Speaker 1: you have a lot of sneakers?
Speaker 3: No?
Speaker 1: No, do you have a lot of sneakers? I'm a
Speaker 1: sneaker guy, not really. I will say my daughter has
Speaker 1: a multiple and in high school that's all they wore
Speaker 1: with like different kinds of sneakers, like constantly.
Speaker 3: Right, Yeah, I don't know.
Speaker 1: Well that point earlier today, did she Yeah, on surveillance
Speaker 1: and she said it used to be the kids all
Speaker 1: had Converse and now she said, they all have hokahs. Seriously,
Speaker 1: hokahs are cool.
Speaker 3: Can I tell you hookahs Adidas. You don't see a
Speaker 3: lot of Converse out on the street, but I feel
Speaker 3: like they're a classic. I don't know, maybe they'll come back.
Speaker 1: We only have a minute left. I want you to
Speaker 1: get to biomeri in Pharmaceutical.
Speaker 3: Yes, this stock is up in a big way. It's
Speaker 3: up seventeen percent, biggest jump since November sixteen. Biomar In
Speaker 3: Pharmaceutical b m r N. They agreed to buy Amicus Therapeutics,
Speaker 3: which is a biotech company that will help the company
Speaker 3: expand its treatments for rare diseases, so they specialize in
Speaker 3: rare disease. And that stock Amicis is also up in
Speaker 3: a pretty big way, some double digit gain there. But yeah,
Speaker 3: deal news in the farm industry.
Speaker 2: The Stock Movers Report from bloom Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
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