Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie t Teal. As
Speaker 3: we get the week started with a lot of trade
Speaker 3: positivity this morning, with the US and China sounding like
Speaker 3: they could be getting closer to a deal, and I
Speaker 3: think we could probably talk about it more than a
Speaker 3: few individual stocks that are moving just off the back
Speaker 3: of that news. Valerie, good morning, Yeah.
Speaker 1: That's right. Let's start with Nvidia, feeling a lot of
Speaker 1: the optimism on the back of these US China trade
Speaker 1: talks is outperforming across the mag seven up two and
Speaker 1: a half percent in pre market trade, and that comes
Speaker 1: as the US and China are close to closing this
Speaker 1: trade deal now. While semiconductors weren't directly mentioned, better relations
Speaker 1: between the two could pose for a further breakthrough within
Speaker 1: the tech trade between the two world's largest economies. We
Speaker 1: also want to talk about rare earth miners, Nathan. They
Speaker 1: are on a back foot. MP Materials down five percent,
Speaker 1: Critical Metals down seven point six, USA rare Earth down
Speaker 1: five point six, And this is on the back of
Speaker 1: US Treasury Secretary Scott Bessant teasing that a pliminary consensus
Speaker 1: has been reached and includes a delay of China's rare
Speaker 1: earth export controls by one year.
Speaker 3: Of course, it is a Monday, so we've got some
Speaker 3: deal news this morning, and one stock in particular is
Speaker 3: soaring on some deal news.
Speaker 1: Yeah, that's Avidity Biosciences, up forty four percent in pre
Speaker 1: market trade. Novartis has agreed to buy the biopharma company
Speaker 1: for seventy two dollars a share, so we're rising forty
Speaker 1: four percent, up just shy to seventy one dollars a share,
Speaker 1: so right below the acquisition level. It was a twelve
Speaker 1: billion dollar deal for Novartis, the largest acquisition for the
Speaker 1: Swiss pharma giant in over a decade, and it seeks
Speaker 1: to boost its drug pipeline this acquisition. Nathan Avidity has
Speaker 1: experimental drugs focused on rare earth diseases.
Speaker 3: Of course, this is a big week for earnings. Some
Speaker 3: of the biggest companies in the S and P five
Speaker 3: hundred are going to be reporting, but one company that's
Speaker 3: reporting earnings is the biggest decliner this morning, and it
Speaker 3: is well away from the tech story.
Speaker 1: Yeah, this is Carter's, the baby apparel company. Now, while
Speaker 1: we don't normally mention this stock, it is struggling with
Speaker 1: the fallout from tariff, so it is telling us maybe
Speaker 1: a bit of a macro picture of what's going on
Speaker 1: in apparel. Carters is down nearly sixteen percent in pre
Speaker 1: market trade. The company is dependent on imports from high
Speaker 1: tariff countries like Vietnam, Cambodia, Bangladesh. They have suspended their
Speaker 1: full year guidance and said it would reduce its workforce
Speaker 1: by fifteen percent. The company also announced it would close
Speaker 1: fifteen percent of stores in North America, which is up
Speaker 1: from its previous target of closing ten percent, as aims
Speaker 1: to save costs on the back of tariffs.
Speaker 3: And finally, Valerie for anyone who wants to trade off
Speaker 3: the back of the Argentinian election results, looks like there's
Speaker 3: an ETF for that.
Speaker 2: Yes, there is.
Speaker 1: ARGT is a US listed Argentina and e f ETF
Speaker 1: and it is soaring in the pre market, up sixteen percent.
Speaker 1: Some bank stocks that are that also have US ad
Speaker 1: rs are soaring over thirty percent. One of the big
Speaker 1: ones is BBVA Argentina that's up thirty five percent, or
Speaker 1: it's USADRS or up thirty five percent in pre market trade.
Speaker 1: We also have the dollar bond soaring as well. This
Speaker 1: comes after Mela's party one the Argentina midterm vote that
Speaker 1: will give the libertarian leader a strong foothold in government,
Speaker 1: and the results should help ease doubts and whether Argentina
Speaker 1: will continue to receive crucial support from the US.
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