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 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis, with some
Speaker 1: stocks making some major moves on some deal news this morning,
Speaker 1: starting off with Arcosa. Good morning, Dan, Good morning Nathan.
Speaker 3: That's right, m and a Monday. Arcosa ticker ACA is
Speaker 3: up eleven percent in the pre market as building materials
Speaker 3: group CRCH is close to its biggest deal ever to
Speaker 3: acquire Arcosa. According to the Financial Time, who is citing
Speaker 3: people familiar, CRCH is said to be in advanced discussions
Speaker 3: for the acquisition and an agreement could come as soon
Speaker 3: as next week. OURCOSA business includes aggregates concretes as well
Speaker 3: as power utilities like telecoms, towers. It competes with CRCH,
Speaker 3: so CRCH is looking for this acquisition to expand out
Speaker 3: it's it's it's performance in this market. CRCH has a
Speaker 3: market value of seventy four billions versus Arcosa about around
Speaker 3: eight billion dollars, so it is looking to expand. It's
Speaker 3: something that's done a lot. CRCH has expanded a lot
Speaker 3: via acquisitions at Boston men assets from Wholeseam and LeFarge
Speaker 3: when those companies need to sell ahead of that merger.
Speaker 3: So that's really helping out those Arcosa shares.
Speaker 1: An even a bigger move this morning for Apage Therapeutics.
Speaker 1: That stock is soaring dan it is.
Speaker 3: It is up over fifty percent and I just got
Speaker 3: news it's halted now in the pre market at that level,
Speaker 3: basically abby is closing in on a nearly eleven billion
Speaker 3: dollar deal to buy apage again according to the Financial Times. However,
Speaker 3: that Holt implies there's news that is going to come
Speaker 3: out shortly. This has you know the ABVY which uh,
Speaker 3: this has Abvy looking for the inflammatory disease drugs that
Speaker 3: apagee has been developing. And ABV shares are actually up
Speaker 3: about nearly one percent of the pre market, somewhat unusual
Speaker 3: typically when companies go out and buy another company. But
Speaker 3: that's being seen as a creative to Abvy itself.
Speaker 1: Okay, and we have some deal news of a sort
Speaker 1: between Microsoft and Chevron. This is an M and A.
Speaker 1: But this has to do with the AI play, right.
Speaker 3: Yeah, So Chevron is in a partnership with Microsoft for
Speaker 3: a twenty year deal to provide GNAT gas power for
Speaker 3: a proposed Texas data center that has shares of Chevron
Speaker 3: up nearly one percent in the pre market. That's also
Speaker 3: of note because crude is down, so typically if you
Speaker 3: see oil down, you see the oil majors down, but
Speaker 3: Chevron is up despite crude softness. The power plant is
Speaker 3: expected to start providing power in twenty twenty eight and
Speaker 3: will ramp up to nearly two point seven gigawatts, and
Speaker 3: Bloomberg News has previously reported the companies were in exclusive talks.
Speaker 3: Microsoft is looking to doubles its datas center footprint over
Speaker 3: the next two years, and this partnership with Chevron is
Speaker 3: expected to supply the power needed for those energy intensive
Speaker 3: place centers.
Speaker 1: Okay, there's just time to tell us about this monster
Speaker 1: move we're seeing on another potential AI play for Getty
Speaker 1: Images of all companies Dan.
Speaker 3: Yeah, ticker g E t Y. Those shares are up
Speaker 3: two hundred percent in the pre markets, trading at about
Speaker 3: a dollar and eighty two cents right now in the
Speaker 3: pre market. And so Getty Images has a partnership with
Speaker 3: open AI, where Getty images licensed content libraries will appear
Speaker 3: across search and discovery experiences for chat GPT. Getty closed
Speaker 3: at a record low on Wednesday of last week, and
Speaker 3: this massive push is setting it up to erase all
Speaker 3: the losses it's posted since November. Getty initially resisted outside
Speaker 3: AI competition. It tried to develop its own AI image generator.
Speaker 3: It sued Stability AI, accusing the AI image generator of
Speaker 3: copying more than twelve million photographs without permission to train
Speaker 3: its models. So it's really been trying to fund off
Speaker 3: these AI names, But now it's embracing that.
Speaker 2: This stock Movers report from Bloomberg Radio. Check back with
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