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 Hanker, joined by Bloomberg Stan Curtis. As we
Speaker 1: get ready to close out one of the best quarters
Speaker 1: for global stocks in about six years. Dan, you're starting
Speaker 1: us off with one stock that is definitely not participating
Speaker 1: in the overall rally.
Speaker 3: Good morning, Good morning, just like my brackets, not participating
Speaker 3: in a lot of the excitement. This falling, So we
Speaker 3: can go to that another time. Concentrics CNXSE. Those shares
Speaker 3: are down twenty four percent in the pre market. This
Speaker 3: company handles customer experience outsourcing, and it is falling after earnings.
Speaker 3: So while the company basically matched both top and bottom
Speaker 3: line estimates for the second quarter, it lowered its top
Speaker 3: and bottom line estimates for the current quarter and fiscal year.
Speaker 3: Noted that it's ix Suite, which integrates AI, is on
Speaker 3: track to double to one hundred and twenty million in
Speaker 3: revenue by the end of the year, and Bloomberg Intelligence
Speaker 3: is saying that this reinforces the concerns that AI is
Speaker 3: shrinking demand for customer experience outsourcing, hence cutting those estimates,
Speaker 3: while while and that's happening faster than higher value in
Speaker 3: AI surfaces services are expanding. So that kind of push
Speaker 3: pull is really being highlighted over this full year outlook.
Speaker 1: And we've got some headlines this morning that have ABVY
Speaker 1: and Merk under pressure. This morning, dan So Merk.
Speaker 3: Is down about half a percent. ABV is down about
Speaker 3: one percent in the pre market right now, and that's
Speaker 3: as a biparison group of US lawmakers has opened national
Speaker 3: security investigations into the drug makers, and that's according to
Speaker 3: a report by Reuters. The report says the probe is
Speaker 3: into whether they have filed whether they have involved in
Speaker 3: clinical trials conducted in China that helped fuel the country's
Speaker 3: military capabilities. The representatives ask for details of the trial
Speaker 3: sites in China, particularly the Shinsha region and military hospitals,
Speaker 3: and they say that Chinese researchers have documented lapses in
Speaker 3: securing informed consent from trial participants in that region. Merk's
Speaker 3: responsor Reuters was at patient safety and ethical integrity our priorities,
Speaker 3: and it follows all global guidelines. While advideclined to comment,
Speaker 3: China's US embassy responded by email that there is nothing
Speaker 3: credible in the committee's action. Those shares under pressure in
Speaker 3: the pre market.
Speaker 1: Okay, so we'll have to watch for more developments around that.
Speaker 1: In the meantime, let's go back to something of an
Speaker 1: AI play for Digital Realty.
Speaker 3: Yeah, Digital Realty. So this is a data center platform
Speaker 3: and it is buying Blackstone's stake and three data centers
Speaker 3: across northern Virginia for three and a half billion dollars.
Speaker 3: Those shares, which are trading under ticker DLR, are down
Speaker 3: four percent in the pre market. The deal is, the
Speaker 3: deal is one point two billion dollars in cash and
Speaker 3: two point three billion dollars in shares. So that two
Speaker 3: point three billion dollars in shares is coming through a
Speaker 3: secondary offering which is going to add a little bit
Speaker 3: of dilution, and those shares are down today. Now, this
Speaker 3: transfers eighty percent of interest in two data centers to
Speaker 3: Digital Realty, fifty percent interest in a third, each of
Speaker 3: which are ninety six megawatts who about three hundred megawatts
Speaker 3: in total. Now, this is something I learned this morning.
Speaker 3: North Virginia is the lead data center hub in the
Speaker 3: US according to CBRE, and it benefits from strong fiber
Speaker 3: connectivity and proximity to major cloud and federal user so
Speaker 3: digital realty is really going and hard in that area.
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
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