WEBVTT - Closing Bell: Marvell Surges on Nvidia Deal, Delta Rises, McCormick Sinks

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is the closing bell on the stock mover's report

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<v Speaker 2>the company's making moves at the close of US trading,

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<v Speaker 2>with Carol Masser, Tim Stenoveeck Romain Bostik, and Katie Greifel.

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<v Speaker 1>All right, so let's go to some of the individual gainers.

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<v Speaker 1>If I may, two names, I want to pull up

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<v Speaker 1>Marvel Technology and Nvidia, both gaining in today's session. In fact,

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<v Speaker 1>Marvel I believe it was the top gainer in the

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<v Speaker 1>Nasdaq one hundred today. In Vidia taking a two billion

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<v Speaker 1>dollars stake in Marvell Technology, opening up its system to

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<v Speaker 1>allow Marvel to integrate custom artificial intelligence chips at networking

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<v Speaker 1>equipment on the platform. So the two agreeing to collaborate

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<v Speaker 1>on the development development of silicon photonics, which use light

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<v Speaker 1>instead of traditional copper wiring to move data faster and

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<v Speaker 1>more efficiently. And I'm going to assume that might be

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<v Speaker 1>a little bit cheaper. So anyway, you've got Marvel Technology

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<v Speaker 1>up almost thirteen percent in today's session, probably some general

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<v Speaker 1>elphoria also helping out that trade. Same story for Nvidia

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<v Speaker 1>up about five point six percent in today's session. All Right,

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<v Speaker 1>so we saw a big market move. In fact, straight up,

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<v Speaker 1>was it around midday or one thirty.

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<v Speaker 3>Yeah, we're just in the twelve to one o'clock.

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<v Speaker 1>Hour, okay, thank you. And that was after Iron's president

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<v Speaker 1>said the country had the necessary will to end this war,

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<v Speaker 1>but expected certain requirements to be met according to the

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<v Speaker 1>state run IRA and A. But anyway, you saw a

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<v Speaker 1>lot of consumer discretionary names to the upside. So if

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<v Speaker 1>you look at the S and P Composite Consumer Discretionary Index,

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<v Speaker 1>you saw that index rallying today. And then you take

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<v Speaker 1>a look at some of the travel and consumer names.

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<v Speaker 1>American Airlines first of all, the group the discretionary group

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<v Speaker 1>up about three and a quarter percent. If you go

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<v Speaker 1>on over to some of the airlines, American up five

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<v Speaker 1>and a half percent. You had Delta up about five

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<v Speaker 1>and a quarter percent. And then you look at the

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<v Speaker 1>S and P Supercomposite Airline Index as a whole, up

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<v Speaker 1>almost six percent. So again some enthusiasm. Maybe energy prices

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<v Speaker 1>are going to come down, people are going to go

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<v Speaker 1>back to traveling. So that was something of a bright spot.

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<v Speaker 1>And then I just wanted to oh.

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<v Speaker 2>Yeah, go, I was just going to ask is my

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<v Speaker 2>flight that I haven't booked going to be cheaper yet

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<v Speaker 2>or do I have to wait longer?

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<v Speaker 3>Think you're going to be paying the money? Yeah?

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<v Speaker 1>Get ready to get ready. One more name, on semi Conductor.

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<v Speaker 1>This too was a top name in the NASDAQ one hundred.

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<v Speaker 1>Saishin global over in China, reporting out that US power

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<v Speaker 1>semiconductor maker on Semis said it will establish a greater

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<v Speaker 1>China headquarters in Shanghai and invest about fifty million in

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<v Speaker 1>the country of the next three years, stepping up local

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<v Speaker 1>decision making and investment as demand rises from EV's renewable

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<v Speaker 1>energy and AI data center. So the company announcing that

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<v Speaker 1>move earlier today in Shanghai. So that was certainly an

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<v Speaker 1>our performer up more than eleven percent. Him.

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<v Speaker 3>All right, let's look at some underperformers today. Let's start

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<v Speaker 3>with energy stocks. Energy stocks drop what.

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<v Speaker 1>Oh wow wanh wah? All right, yeah, sorry, Tim, did

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<v Speaker 1>you just get rid of it?

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<v Speaker 3>I don't even know what's I don't even I don't

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<v Speaker 3>even know what's going on. I don't even know what's

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<v Speaker 3>going on anymore. All right, here we go.

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<v Speaker 1>Let's start that again.

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<v Speaker 3>Let's start with energy stocks. This is the entire S

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<v Speaker 3>and B Energy index felt today by more than one percent.

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<v Speaker 3>We had big declines in companies like Exonmobile, Chevron, Eog Resources, Conico, Phillips,

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<v Speaker 3>Phillip sixty six, Valero, Occidental, Devin and more. I just

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<v Speaker 3>decided to do the entire index. It did fall for

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<v Speaker 3>the reason that Carol talked about airline stocks Hire today,

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<v Speaker 3>Iron's president saying in the country had the necessary will

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<v Speaker 3>to end the war, and that is why we saw

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<v Speaker 3>a rally and pretty much everything except for energy. This index,

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<v Speaker 3>though up thirty seven percent so far this year. A

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<v Speaker 3>lot of m and a news today I had to

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<v Speaker 3>narrow it down to just one or two companies to

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<v Speaker 3>talk about McCormick and call the spice maker down more

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<v Speaker 3>than six percent this after Unilever agreed to combine its

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<v Speaker 3>food business with mccormicks in a forty four point eight

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<v Speaker 3>billion dollar deal. It'll create a global seasonings, sauces and

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<v Speaker 3>condiments company. Under the agreement, McCormick will pay Unilever fifteen

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<v Speaker 3>point seven billion dollars in the equivalent of twenty nine

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<v Speaker 3>point one billion dollars in McCormick shares for most of

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<v Speaker 3>Unilever's food business, leaving Unilever and its shareholders sixty five

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<v Speaker 3>percent of the combined entity.

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<v Speaker 1>Alberts, All Birds, Alberts.

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<v Speaker 3>What happened? Yes, stock was down double digits today, but

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<v Speaker 3>I guess at the end of the day higher. But Katie,

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<v Speaker 3>you go ahead and do treasuries. We talk about all,

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<v Speaker 3>is it?

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<v Speaker 1>It kind of sad though, rip Alberds. Yeah, they were

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<v Speaker 1>such a big deal.

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<v Speaker 3>They were really hot for a moment in's time.

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