Speaker 1: The Stock Movers Report, your roundup of companies making moves
Speaker 1: in the stock market. Harnessing the power of Bloomberg data.
Speaker 2: Let's take a look at some stocks on the move today.
Speaker 2: I'm Norma Linda and we're joined by senior equities reporter
Speaker 2: and deputy team leader Jess Menten. What is look at?
Speaker 2: What are you looking at in a stock market right now?
Speaker 3: So this has been a very big week for obvious
Speaker 3: reasons when it comes to chip stocks and particularly memory
Speaker 3: type stocks. But one name that I did want to
Speaker 3: point out is on Simmi. So the ticker symbol is
Speaker 3: OHN and on a weekly basis, if you look at
Speaker 3: this in the terminal, the stock's down twenty five percent,
Speaker 3: So that would be its worst week since November two
Speaker 3: thousand and eight, so almost two decades ago that we
Speaker 3: saw a huge decline.
Speaker 2: Like that, and most of that coming from today's slide, Yes.
Speaker 3: And most of it, to your point, is coming from today.
Speaker 3: So this is a maker of power sensing components for
Speaker 3: the automotive industry, so widely followed and it did plunge
Speaker 3: after it announced. It's the largest acquisition ever, so it's
Speaker 3: basically trying to capitalize on physical AI, so if you're
Speaker 3: thinking about robotics and when it comes to the cars
Speaker 3: and auto driving and things like that. So on, Simmey
Speaker 3: said it was going to buy Synaptics and a seven
Speaker 3: billion dollar All Star deal to basically bolster that push
Speaker 3: into the physical AI space, so when you're thinking about
Speaker 3: autotonomous vehicles, it's another sort of play that it's trying
Speaker 3: to do. So on, Semi Ceo actually defended its core business,
Speaker 3: saying that its data center business is running smoothly and accelerating,
Speaker 3: because there were concerns among investors in the company and
Speaker 3: traders as far as what this means moving forward as
Speaker 3: kind of the push with this deal that happened this week.
Speaker 3: So it's a major producer of those silicon carbide and
Speaker 3: it's widely known as a power and sensing solutions for
Speaker 3: the automotive and e V industries. So it basically expects
Speaker 3: this deal to potentially close in mid twenty twenty seven,
Speaker 3: so basically a year from now, and to potentially generate
Speaker 3: two hundred million dollars in annual synergies within the next
Speaker 3: eighteen months. But of course companies always like to talk
Speaker 3: about synergies and how that could potentially play out, but
Speaker 3: technology companies are really hitting the acquisition mode in the
Speaker 3: race to strengthen those types of AI capability. So like
Speaker 3: Qualcom's another example, so it actually this week snapped up
Speaker 3: infrastructure startup Modular, so it's trying to beef up with
Speaker 3: software capabilities. So this month's salesforce also said it would
Speaker 3: buy AI customer service platform finn for about three point
Speaker 3: six billion dollars. So you're seeing this not just for
Speaker 3: on Symney, but broadly too with other companies that are
Speaker 3: in this way.
Speaker 2: And so we know on it was the worst performing
Speaker 2: stock in the S and P five hundred this week.
Speaker 2: Let's go to the best performing stock in the S
Speaker 2: and P five hundreds this week.
Speaker 3: So biotechne ticker is tech Tech, So this is actually
Speaker 3: up almost twenty three percent this week, so this is
Speaker 3: the flip side of it. So in the green this week,
Speaker 3: best week since May of two thousand and three. So
Speaker 3: a lot of big size and scopes for these companies.
Speaker 3: So Biotechny it's a Minneapolis based life sciences company, so
Speaker 3: it develops, manufacturers and sells life science regents, instruments and
Speaker 3: services for like research, diagnostic bioprocessing markets. So actually Germany's work,
Speaker 3: this was the biggest deal in more than a decade
Speaker 3: for them. So they're betting on that demand for complex
Speaker 3: drug research and manufacturing, and so it bought this company
Speaker 3: basically if you're looking for over eleven billion dollars and
Speaker 3: so that's a big deal for them. It's equivalent to
Speaker 3: maybe around seventy three dollars per share, but basically trying
Speaker 3: to bet on kind of the future here and what
Speaker 3: it could mean for those types of biotech spaces.
Speaker 2: Perfect, And let's talk about Oracle. We've been talking so
Speaker 2: much about these tech names. What's going on with Oracle
Speaker 2: this week?
Speaker 3: Well, this is another big play here. So the stock
Speaker 3: actually did fall this week after a report that its
Speaker 3: key partner, open Ai could potentially delay that IPO. So
Speaker 3: of course a lot of eyeballs on this name and
Speaker 3: this space just because of the name that it is.
Speaker 3: The tacker symbol is ORCL down nineteen percent, worst week
Speaker 3: since August two thousand and one. So another big size
Speaker 3: and scope here. So a report saying that open ai
Speaker 3: could consider delaying its initial public offering until next year.
Speaker 3: So open ai is a key partner to Oracle's hugely
Speaker 3: expensive effort to become an AI cloud computing leader. So
Speaker 3: I would expect to potentially, when I'm talking to traders
Speaker 3: and money managers, that there could be more volatility because
Speaker 3: of the back and forth with the timeline on this.
Speaker 1: The Stock Mover's report from Bloomberg Radio. Check back with
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