WEBVTT - QXO Falls, Compass Pathways Rises, Fermi Plunges

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's get a look at some stocks on the move.

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<v Speaker 3>I'm Carol master Long with Tim Staneveek with us as

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<v Speaker 3>Bloomberg News Equities reporter Natalia Kenny Javic. She's here in studio.

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<v Speaker 3>Where shall we begin.

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<v Speaker 4>Let's start with QXO. So we got news today. The

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<v Speaker 4>stock is done by four point two percent the tickers QXOH.

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<v Speaker 4>The company said that it will acquire Top Build Company

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<v Speaker 4>for approximately seventeen billion dollars that represent about twenty three

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<v Speaker 4>percent premium from the closing price on April seventeen. Now,

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<v Speaker 4>this transaction is expected to close in the third quarter

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<v Speaker 4>of this year. If the deal gets through, so we

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<v Speaker 4>could see the second largest publicly treated company from the

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<v Speaker 4>building product distribution sector. And also it would be a

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<v Speaker 4>big step for the company to generate fifty billion dollars

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<v Speaker 4>in revenues.

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<v Speaker 3>This is what Brad Jacobs right. You know his history,

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<v Speaker 3>this is what he does right, and he has been

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<v Speaker 3>on a mission right to build out this company. We

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<v Speaker 3>knew he was going to be doing a bunch of

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<v Speaker 3>acquisitions and this is a big step forward for it.

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<v Speaker 4>That's true. Some analysts, however, say that they were a

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<v Speaker 4>little bit surprised, and they also say that competitors like

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<v Speaker 4>home Deepook could also you know, rivals over this bit.

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<v Speaker 4>So for example, home Deepook would offer all cash deals.

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<v Speaker 4>So we will see how that plays out. But anyway,

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<v Speaker 4>keep in mind that all stocks from this sector have

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<v Speaker 4>been so volatile, first of all because of the rates uncertainty,

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<v Speaker 4>and also not too many people are buying homes.

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<v Speaker 3>Yeah, although are they not They're not right, but they

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<v Speaker 3>might be. We you know, I was just talking with

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<v Speaker 3>somebody about kind of the refresh cycle that homes if

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<v Speaker 3>you look at them historically. I'm pulling some data on this.

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<v Speaker 3>Are older, are getting older, and we.

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<v Speaker 1>All are buying stuff for the home.

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<v Speaker 3>So if you're staying in your home.

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<v Speaker 1>Maybe they're buying a new couch or doing some some stools.

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<v Speaker 3>Or doing some you know, reworkhouse, new kitchen, your bathroom.

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<v Speaker 1>You know.

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<v Speaker 4>Yeah, I don't know if that's the case for New

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<v Speaker 4>York when people just rent apartments, so yeah, I don't know.

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<v Speaker 3>Yeah, some people buy them, Yeah, just a few.

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<v Speaker 1>No, no easy transition to this next one.

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<v Speaker 3>Well, no, actually there is. Everybody who's watching it is

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<v Speaker 3>like are they on something?

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<v Speaker 1>Oh okay, maybe that's it. We can talk about synthetic psilocybin.

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<v Speaker 1>How's that?

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<v Speaker 4>Yes, So psychedelic related stocks, guys. Today we see a

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<v Speaker 4>huge move. One of them is compos Pathways the ticket CMPs.

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<v Speaker 4>The stock is up by more than forty percent today.

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<v Speaker 4>This came after President Donald Trump signed an executive order

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<v Speaker 4>that basically expedites research and access to different substances outside

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<v Speaker 4>of the United States to treat post traumatics stress disorder

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<v Speaker 4>that can actually happen right if you rebuild your home.

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<v Speaker 4>So now we see that some of those stocks are

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<v Speaker 4>really moving much higher, and analysts are saying basically, after

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<v Speaker 4>the company does a research trial, then it applies for

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<v Speaker 4>FDA for the approval typically takes six to ten months.

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<v Speaker 4>Now it's going to be somewhere between one and two months.

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<v Speaker 4>So it's a huge up side with.

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<v Speaker 3>The Compass Pathways CEO Kabi or notth on later on,

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<v Speaker 3>and we're going to talk about this. He's come on

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<v Speaker 3>a lot and talked about this process. But you know,

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<v Speaker 3>you read the stories about it and for some people.

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<v Speaker 3>This could be the difference whether it's PTSD, but also

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<v Speaker 3>drug addictions, different types of addictions. So it's really interesting. Hey,

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<v Speaker 3>thirty seconds.

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<v Speaker 1>Clear for me.

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<v Speaker 4>The Tackers RMI, the stock is down by almost eighteen percent.

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<v Speaker 4>CEO cfour are departing, departing. So now some analysts are

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<v Speaker 4>saying this is a good development because the company has

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<v Speaker 4>recently lost one of its key tenants. And I have

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<v Speaker 4>to say the firm went public in September of twenty

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<v Speaker 4>twenty five. Since then, the stock is done by more

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<v Speaker 4>than seventy percent.

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<v Speaker 1>Their power firm looking to go nuclear.

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<v Speaker 4>Data center read so it provides power for data center

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<v Speaker 4>and it's building a huge facility in Texas that is

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<v Speaker 4>supposed to be powered by nuclear reactors.

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<v Speaker 1>So go find it. By Rick Perry from our energy secretary.

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<v Speaker 3>Nice job on that, well done. Thank you for weaving

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<v Speaker 3>that together and for putting up with us. We really

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<v Speaker 3>appreciate it. The Italia Kenny Javich joining us here in studio.

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<v Speaker 3>Check out our Stock Movers podcast five minute episodes, winners, Losers.

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<v Speaker 3>Find it wherever you get your podcasts.

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<v Speaker 3>Mm HM