WEBVTT - Oracle Rises, Nike Continues Fall, BioMarin Up Big After Acquisition

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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.

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<v Speaker 1>I'm Jim Stadeveek along with Carol Masser. Let's take a

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<v Speaker 1>look at some stocks on the move today with us

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<v Speaker 1>as Bloomberg News cross Asset reporter Emily Graffeo. She joins

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<v Speaker 1>us here in the studio. Everything in the green, So

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<v Speaker 1>what you have today?

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<v Speaker 3>I don't have everything in the green, but we can

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<v Speaker 3>start with a stock that is up, tim Oracle ticker

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<v Speaker 3>o RCL. It's up about seven percent. It's still down

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<v Speaker 3>fifteen percent on the month. But we did recently get

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<v Speaker 3>news that TikTok is said it's being bought by a

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<v Speaker 3>group of buyers led by the software company Oracle, and

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<v Speaker 3>the TikTok CEO told employees that Byte Dance, their parent company,

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<v Speaker 3>signed binding agreements to create a joint venture majority owned

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<v Speaker 3>by American investors, including Oracle. This is a according to

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<v Speaker 3>an Eternal memo reviewed by Bloomberg. The kind of question

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<v Speaker 3>mark here is whether Chinese regulators will approve the transaction

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<v Speaker 3>in order for the deal to proceed. But when you

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<v Speaker 3>look at what analysts are saying this will drive revenue

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<v Speaker 3>for Oracle's cloud infrastructure business.

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<v Speaker 1>And then are they getting the algorithm? So okay, So

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<v Speaker 1>the new arrangement will license the algorithms used from ByteDance

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<v Speaker 1>and have additional oversight, with Oracle overseeing the process. It remains,

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<v Speaker 1>though unclear how effectively it constrain subtler forms of influence, though.

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<v Speaker 1>Dave Lee of Bloomberg Opinion, who's covered tech for years,

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<v Speaker 1>alan the column just in the last forty five minutes.

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<v Speaker 1>It's a must read on the terminal. But good news

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<v Speaker 1>for Oracles.

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<v Speaker 3>Yeah, there's another Oracle headline, the TikTok news, probably moving

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<v Speaker 3>the stock up more. But we also got coming today

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<v Speaker 3>Michigan regulators unanimously approved a request from utility DTE Energy

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<v Speaker 3>to power a massive data center development planned by Oracle

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<v Speaker 3>and Open AI. I think we drive that stock us.

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<v Speaker 2>I agree with you.

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<v Speaker 1>I think that's important because the stock was up out

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<v Speaker 1>of the gate right in a big way. I mean,

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<v Speaker 1>it's up a lot more, but I agree with you

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<v Speaker 1>that I think that certainly provides.

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<v Speaker 2>Some momentum in terms of the AI play.

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<v Speaker 1>Okay, that's momentum to the upside, a little momentum to

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<v Speaker 1>the downside unfortunately for Nike today.

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<v Speaker 3>That's right, Yeah, this is a four straight day that

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<v Speaker 3>the sportswear retailer is dropping. It's lost over ten billion

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<v Speaker 3>in market cap just today. Biggest drops since April. Tiger

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<v Speaker 3>nk E. We all know this company. Well, it's down

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<v Speaker 3>about eleven percent right now. The third quarter guidance disappointed investors.

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<v Speaker 3>So they had earnings on Thursday. They said that sales

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<v Speaker 3>will decline this quarter a mid weakness in China and

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<v Speaker 3>then also weakness in the Converse brand, so people not

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<v Speaker 3>wanting to buy up Converse. Sneakers are very personal.

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<v Speaker 1>Yeah, I don't know, Yeah, yeah, I mean people have

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<v Speaker 1>multiple pairs of sneakers, so I mean there's a do

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<v Speaker 1>you have a lot of sneakers?

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<v Speaker 3>No?

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<v Speaker 1>No, do you have a lot of sneakers? I'm a

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<v Speaker 1>sneaker guy, not really. I will say my daughter has

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<v Speaker 1>a multiple and in high school that's all they wore

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<v Speaker 1>with like different kinds of sneakers, like constantly.

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<v Speaker 3>Right, Yeah, I don't know.

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<v Speaker 1>Well that point earlier today, did she Yeah, on surveillance

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<v Speaker 1>and she said it used to be the kids all

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<v Speaker 1>had Converse and now she said, they all have hokahs. Seriously,

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<v Speaker 1>hokahs are cool.

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<v Speaker 3>Can I tell you hookahs Adidas. You don't see a

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<v Speaker 3>lot of Converse out on the street, but I feel

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<v Speaker 3>like they're a classic. I don't know, maybe they'll come back.

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<v Speaker 1>We only have a minute left. I want you to

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<v Speaker 1>get to biomeri in Pharmaceutical.

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<v Speaker 3>Yes, this stock is up in a big way. It's

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<v Speaker 3>up seventeen percent, biggest jump since November sixteen. Biomar In

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<v Speaker 3>Pharmaceutical b m r N. They agreed to buy Amicus Therapeutics,

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<v Speaker 3>which is a biotech company that will help the company

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<v Speaker 3>expand its treatments for rare diseases, so they specialize in

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<v Speaker 3>rare disease. And that stock Amicis is also up in

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<v Speaker 3>a pretty big way, some double digit gain there. But yeah,

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<v Speaker 3>deal news in the farm industry.

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<v Speaker 2>The Stock Movers Report from bloom Radio. Check back with

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