WEBVTT - Nvidia Outperforms; Avidity Biosciences Rallies; Carter's Falls

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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 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Valerie t Teal. As

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<v Speaker 3>we get the week started with a lot of trade

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<v Speaker 3>positivity this morning, with the US and China sounding like

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<v Speaker 3>they could be getting closer to a deal, and I

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<v Speaker 3>think we could probably talk about it more than a

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<v Speaker 3>few individual stocks that are moving just off the back

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<v Speaker 3>of that news. Valerie, good morning, Yeah.

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<v Speaker 1>That's right. Let's start with Nvidia, feeling a lot of

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<v Speaker 1>the optimism on the back of these US China trade

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<v Speaker 1>talks is outperforming across the mag seven up two and

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<v Speaker 1>a half percent in pre market trade, and that comes

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<v Speaker 1>as the US and China are close to closing this

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<v Speaker 1>trade deal now. While semiconductors weren't directly mentioned, better relations

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<v Speaker 1>between the two could pose for a further breakthrough within

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<v Speaker 1>the tech trade between the two world's largest economies. We

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<v Speaker 1>also want to talk about rare earth miners, Nathan. They

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<v Speaker 1>are on a back foot. MP Materials down five percent,

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<v Speaker 1>Critical Metals down seven point six, USA rare Earth down

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<v Speaker 1>five point six, And this is on the back of

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<v Speaker 1>US Treasury Secretary Scott Bessant teasing that a pliminary consensus

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<v Speaker 1>has been reached and includes a delay of China's rare

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<v Speaker 1>earth export controls by one year.

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<v Speaker 3>Of course, it is a Monday, so we've got some

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<v Speaker 3>deal news this morning, and one stock in particular is

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<v Speaker 3>soaring on some deal news.

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<v Speaker 1>Yeah, that's Avidity Biosciences, up forty four percent in pre

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<v Speaker 1>market trade. Novartis has agreed to buy the biopharma company

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<v Speaker 1>for seventy two dollars a share, so we're rising forty

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<v Speaker 1>four percent, up just shy to seventy one dollars a share,

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<v Speaker 1>so right below the acquisition level. It was a twelve

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<v Speaker 1>billion dollar deal for Novartis, the largest acquisition for the

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<v Speaker 1>Swiss pharma giant in over a decade, and it seeks

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<v Speaker 1>to boost its drug pipeline this acquisition. Nathan Avidity has

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<v Speaker 1>experimental drugs focused on rare earth diseases.

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<v Speaker 3>Of course, this is a big week for earnings. Some

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<v Speaker 3>of the biggest companies in the S and P five

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<v Speaker 3>hundred are going to be reporting, but one company that's

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<v Speaker 3>reporting earnings is the biggest decliner this morning, and it

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<v Speaker 3>is well away from the tech story.

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<v Speaker 1>Yeah, this is Carter's, the baby apparel company. Now, while

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<v Speaker 1>we don't normally mention this stock, it is struggling with

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<v Speaker 1>the fallout from tariff, so it is telling us maybe

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<v Speaker 1>a bit of a macro picture of what's going on

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<v Speaker 1>in apparel. Carters is down nearly sixteen percent in pre

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<v Speaker 1>market trade. The company is dependent on imports from high

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<v Speaker 1>tariff countries like Vietnam, Cambodia, Bangladesh. They have suspended their

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<v Speaker 1>full year guidance and said it would reduce its workforce

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<v Speaker 1>by fifteen percent. The company also announced it would close

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<v Speaker 1>fifteen percent of stores in North America, which is up

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<v Speaker 1>from its previous target of closing ten percent, as aims

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<v Speaker 1>to save costs on the back of tariffs.

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<v Speaker 3>And finally, Valerie for anyone who wants to trade off

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<v Speaker 3>the back of the Argentinian election results, looks like there's

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<v Speaker 3>an ETF for that.

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<v Speaker 2>Yes, there is.

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<v Speaker 1>ARGT is a US listed Argentina and e f ETF

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<v Speaker 1>and it is soaring in the pre market, up sixteen percent.

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<v Speaker 1>Some bank stocks that are that also have US ad

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<v Speaker 1>rs are soaring over thirty percent. One of the big

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<v Speaker 1>ones is BBVA Argentina that's up thirty five percent, or

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<v Speaker 1>it's USADRS or up thirty five percent in pre market trade.

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<v Speaker 1>We also have the dollar bond soaring as well. This

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<v Speaker 1>comes after Mela's party one the Argentina midterm vote that

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<v Speaker 1>will give the libertarian leader a strong foothold in government,

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<v Speaker 1>and the results should help ease doubts and whether Argentina

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<v Speaker 1>will continue to receive crucial support from the US.

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

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<v Speaker 2>us throughout the day for the latest roundup of companies

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<v Speaker 2>making news on Wall Street and for the latest market

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