WEBVTT - Onsemi, Oracle End Week Lower, Biotechne Jumps

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<v Speaker 1>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 1>in the stock market. Harnessing the power of Bloomberg data.

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<v Speaker 2>Let's take a look at some stocks on the move today.

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<v Speaker 2>I'm Norma Linda and we're joined by senior equities reporter

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<v Speaker 2>and deputy team leader Jess Menten. What is look at?

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<v Speaker 2>What are you looking at in a stock market right now?

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<v Speaker 3>So this has been a very big week for obvious

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<v Speaker 3>reasons when it comes to chip stocks and particularly memory

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<v Speaker 3>type stocks. But one name that I did want to

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<v Speaker 3>point out is on Simmi. So the ticker symbol is

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<v Speaker 3>OHN and on a weekly basis, if you look at

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<v Speaker 3>this in the terminal, the stock's down twenty five percent,

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<v Speaker 3>So that would be its worst week since November two

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<v Speaker 3>thousand and eight, so almost two decades ago that we

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<v Speaker 3>saw a huge decline.

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<v Speaker 2>Like that, and most of that coming from today's slide, Yes.

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<v Speaker 3>And most of it, to your point, is coming from today.

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<v Speaker 3>So this is a maker of power sensing components for

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<v Speaker 3>the automotive industry, so widely followed and it did plunge

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<v Speaker 3>after it announced. It's the largest acquisition ever, so it's

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<v Speaker 3>basically trying to capitalize on physical AI, so if you're

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<v Speaker 3>thinking about robotics and when it comes to the cars

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<v Speaker 3>and auto driving and things like that. So on, Simmey

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<v Speaker 3>said it was going to buy Synaptics and a seven

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<v Speaker 3>billion dollar All Star deal to basically bolster that push

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<v Speaker 3>into the physical AI space, so when you're thinking about

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<v Speaker 3>autotonomous vehicles, it's another sort of play that it's trying

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<v Speaker 3>to do. So on, Semi Ceo actually defended its core business,

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<v Speaker 3>saying that its data center business is running smoothly and accelerating,

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<v Speaker 3>because there were concerns among investors in the company and

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<v Speaker 3>traders as far as what this means moving forward as

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<v Speaker 3>kind of the push with this deal that happened this week.

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<v Speaker 3>So it's a major producer of those silicon carbide and

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<v Speaker 3>it's widely known as a power and sensing solutions for

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<v Speaker 3>the automotive and e V industries. So it basically expects

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<v Speaker 3>this deal to potentially close in mid twenty twenty seven,

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<v Speaker 3>so basically a year from now, and to potentially generate

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<v Speaker 3>two hundred million dollars in annual synergies within the next

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<v Speaker 3>eighteen months. But of course companies always like to talk

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<v Speaker 3>about synergies and how that could potentially play out, but

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<v Speaker 3>technology companies are really hitting the acquisition mode in the

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<v Speaker 3>race to strengthen those types of AI capability. So like

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<v Speaker 3>Qualcom's another example, so it actually this week snapped up

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<v Speaker 3>infrastructure startup Modular, so it's trying to beef up with

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<v Speaker 3>software capabilities. So this month's salesforce also said it would

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<v Speaker 3>buy AI customer service platform finn for about three point

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<v Speaker 3>six billion dollars. So you're seeing this not just for

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<v Speaker 3>on Symney, but broadly too with other companies that are

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<v Speaker 3>in this way.

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<v Speaker 2>And so we know on it was the worst performing

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<v Speaker 2>stock in the S and P five hundred this week.

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<v Speaker 2>Let's go to the best performing stock in the S

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<v Speaker 2>and P five hundreds this week.

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<v Speaker 3>So biotechne ticker is tech Tech, So this is actually

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<v Speaker 3>up almost twenty three percent this week, so this is

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<v Speaker 3>the flip side of it. So in the green this week,

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<v Speaker 3>best week since May of two thousand and three. So

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<v Speaker 3>a lot of big size and scopes for these companies.

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<v Speaker 3>So Biotechny it's a Minneapolis based life sciences company, so

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<v Speaker 3>it develops, manufacturers and sells life science regents, instruments and

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<v Speaker 3>services for like research, diagnostic bioprocessing markets. So actually Germany's work,

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<v Speaker 3>this was the biggest deal in more than a decade

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<v Speaker 3>for them. So they're betting on that demand for complex

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<v Speaker 3>drug research and manufacturing, and so it bought this company

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<v Speaker 3>basically if you're looking for over eleven billion dollars and

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<v Speaker 3>so that's a big deal for them. It's equivalent to

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<v Speaker 3>maybe around seventy three dollars per share, but basically trying

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<v Speaker 3>to bet on kind of the future here and what

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<v Speaker 3>it could mean for those types of biotech spaces.

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<v Speaker 2>Perfect, And let's talk about Oracle. We've been talking so

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<v Speaker 2>much about these tech names. What's going on with Oracle

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<v Speaker 2>this week?

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<v Speaker 3>Well, this is another big play here. So the stock

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<v Speaker 3>actually did fall this week after a report that its

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<v Speaker 3>key partner, open Ai could potentially delay that IPO. So

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<v Speaker 3>of course a lot of eyeballs on this name and

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<v Speaker 3>this space just because of the name that it is.

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<v Speaker 3>The tacker symbol is ORCL down nineteen percent, worst week

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<v Speaker 3>since August two thousand and one. So another big size

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<v Speaker 3>and scope here. So a report saying that open ai

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<v Speaker 3>could consider delaying its initial public offering until next year.

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<v Speaker 3>So open ai is a key partner to Oracle's hugely

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<v Speaker 3>expensive effort to become an AI cloud computing leader. So

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<v Speaker 3>I would expect to potentially, when I'm talking to traders

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<v Speaker 3>and money managers, that there could be more volatility because

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<v Speaker 3>of the back and forth with the timeline on this.

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<v Speaker 1>The Stock Mover's report from Bloomberg Radio. Check back with

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<v Speaker 1>us throughout the day for the latest roundup of companies

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