Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data. Let's take a look
Speaker 1: at some of the stock movers today.
Speaker 2: We're joined by Bloomers Karmen, Ryan Key. Carmen, what are
Speaker 2: you looking at today? Yeah, So the first thing I'm
Speaker 2: looking at is Corse up to Therapeutics. This is ticker CORT.
Speaker 2: Shares are up about fifteen percent right now after the
Speaker 2: firm said that a trial for a drug in platinum
Speaker 2: resistant ovarian cancer met its overall survival primary endpoint and
Speaker 2: had a thirty five reduction in death risk compared to
Speaker 2: just another drug alone. Notice how I'm not trying to
Speaker 2: say the drug made.
Speaker 1: Yes, that's too.
Speaker 2: Many consonants in there. So the FDAY is also reviewing
Speaker 2: the drugs New Drug Application with a target date of July.
Speaker 2: If you assoom out on this chart too, I thought
Speaker 2: it was interesting. This is a big jump for shit
Speaker 2: for shares, But at the end of December it had
Speaker 2: a really sharp fall off, and that was because the
Speaker 2: FDA rejected the company's drug to treat a sort of
Speaker 2: specific form of high blood pressure. So we're seeing a
Speaker 2: little bit of a rebound here, but it's you know,
Speaker 2: only at the highest sense December thirtieth.
Speaker 1: So s long way off from the best levels, all right.
Speaker 2: Next up, Yeah, so looking at Abbot Labs, it is
Speaker 2: the worst performer in the S and P right now,
Speaker 2: down seven zero point three percent worst cents July. So
Speaker 2: the medical devices firm reported, you know, a sales for
Speaker 2: the fourth quarter that fell short of estimates and also
Speaker 2: gave a first quarter earnings forecast that missed Wall Street estimates,
Speaker 2: sort of specifically after the company said it was forced
Speaker 2: to offer discounts on nutrition products to lure price conscious customers.
Speaker 2: So I actually didn't know that it had sort of
Speaker 2: a nutrition section that does sort of protein drinks specifically
Speaker 2: for people on weight loss drugs. So seeing a little
Speaker 2: bit of weakness there, and analysts had already expected that
Speaker 2: there was going to be some weakness and more conservative
Speaker 2: guidance after the impact of COVID nineteen testing sales, but still,
Speaker 2: you know, less than expected here in shares down. Okay,
Speaker 2: one more yep. So another one I wanted to point
Speaker 2: out is Arista Networks. So it's the top performer and
Speaker 2: the S and P. This is ticker a n E
Speaker 2: t up ten percent right now. I honestly don't have
Speaker 2: a great slam dunk reason for this, but you have
Speaker 2: to point it out. It's such a nice move. It's
Speaker 2: the best intra day since August for the company. It
Speaker 2: might be getting a little bit of a bid as
Speaker 2: part of a broader strength behind memory stocks. There was
Speaker 2: a not anything from Baird this morning, sort of putting
Speaker 2: it in that sector. We've seen some of those names
Speaker 2: really take off this year. But also to be noted,
Speaker 2: a lot of those other constituents are down today, so
Speaker 2: like you know, sand Disk, Seagate, I think Western Digital
Speaker 2: is also a little bit down today. So we're looking
Speaker 2: for more reasons on that one. But a really stunning
Speaker 2: move from Arista Networks.
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