WEBVTT - Corcept Therapeutic Soars, Abbott Labs Sinks, Arista Networks Jumps on AI Spending

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data. Let's take a look

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<v Speaker 1>at some of the stock movers today.

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<v Speaker 2>We're joined by Bloomers Karmen, Ryan Key. Carmen, what are

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<v Speaker 2>you looking at today? Yeah, So the first thing I'm

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<v Speaker 2>looking at is Corse up to Therapeutics. This is ticker CORT.

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<v Speaker 2>Shares are up about fifteen percent right now after the

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<v Speaker 2>firm said that a trial for a drug in platinum

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<v Speaker 2>resistant ovarian cancer met its overall survival primary endpoint and

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<v Speaker 2>had a thirty five reduction in death risk compared to

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<v Speaker 2>just another drug alone. Notice how I'm not trying to

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<v Speaker 2>say the drug made.

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<v Speaker 1>Yes, that's too.

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<v Speaker 2>Many consonants in there. So the FDAY is also reviewing

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<v Speaker 2>the drugs New Drug Application with a target date of July.

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<v Speaker 2>If you assoom out on this chart too, I thought

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<v Speaker 2>it was interesting. This is a big jump for shit

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<v Speaker 2>for shares, But at the end of December it had

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<v Speaker 2>a really sharp fall off, and that was because the

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<v Speaker 2>FDA rejected the company's drug to treat a sort of

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<v Speaker 2>specific form of high blood pressure. So we're seeing a

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<v Speaker 2>little bit of a rebound here, but it's you know,

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<v Speaker 2>only at the highest sense December thirtieth.

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<v Speaker 1>So s long way off from the best levels, all right.

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<v Speaker 2>Next up, Yeah, so looking at Abbot Labs, it is

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<v Speaker 2>the worst performer in the S and P right now,

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<v Speaker 2>down seven zero point three percent worst cents July. So

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<v Speaker 2>the medical devices firm reported, you know, a sales for

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<v Speaker 2>the fourth quarter that fell short of estimates and also

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<v Speaker 2>gave a first quarter earnings forecast that missed Wall Street estimates,

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<v Speaker 2>sort of specifically after the company said it was forced

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<v Speaker 2>to offer discounts on nutrition products to lure price conscious customers.

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<v Speaker 2>So I actually didn't know that it had sort of

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<v Speaker 2>a nutrition section that does sort of protein drinks specifically

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<v Speaker 2>for people on weight loss drugs. So seeing a little

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<v Speaker 2>bit of weakness there, and analysts had already expected that

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<v Speaker 2>there was going to be some weakness and more conservative

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<v Speaker 2>guidance after the impact of COVID nineteen testing sales, but still,

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<v Speaker 2>you know, less than expected here in shares down. Okay,

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<v Speaker 2>one more yep. So another one I wanted to point

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<v Speaker 2>out is Arista Networks. So it's the top performer and

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<v Speaker 2>the S and P. This is ticker a n E

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<v Speaker 2>t up ten percent right now. I honestly don't have

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<v Speaker 2>a great slam dunk reason for this, but you have

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<v Speaker 2>to point it out. It's such a nice move. It's

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<v Speaker 2>the best intra day since August for the company. It

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<v Speaker 2>might be getting a little bit of a bid as

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<v Speaker 2>part of a broader strength behind memory stocks. There was

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<v Speaker 2>a not anything from Baird this morning, sort of putting

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<v Speaker 2>it in that sector. We've seen some of those names

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<v Speaker 2>really take off this year. But also to be noted,

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<v Speaker 2>a lot of those other constituents are down today, so

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<v Speaker 2>like you know, sand Disk, Seagate, I think Western Digital

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<v Speaker 2>is also a little bit down today. So we're looking

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<v Speaker 2>for more reasons on that one. But a really stunning

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<v Speaker 2>move from Arista Networks.

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<v Speaker 1>The stock Mover's report from bloom Ver Radio. Check back

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