WEBVTT - Closing Bell: Super Micro Jumps, Alphabet Slides, Netflix Down

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

0:00:10.080 --> 0:00:13.520
<v Speaker 2>This is the closing bell on the stock Movers report

0:00:13.760 --> 0:00:16.720
<v Speaker 2>the company's making moves at the close of US trading

0:00:16.880 --> 0:00:21.360
<v Speaker 2>with Carol Masser, Tim Stenovak, Romain Bostik, and Katie Greyfell.

0:00:22.400 --> 0:00:24.320
<v Speaker 3>Let's get to some of the individual gainers.

0:00:24.400 --> 0:00:26.920
<v Speaker 1>Number one in the S and P five hundred is

0:00:27.000 --> 0:00:30.720
<v Speaker 1>super Micro, that stock jumping as much as twenty percent

0:00:30.760 --> 0:00:33.400
<v Speaker 1>intra day, finishing the day with about a fifteen point

0:00:33.520 --> 0:00:37.680
<v Speaker 1>seven percent increase. We did see interday the biggest move

0:00:37.800 --> 0:00:39.519
<v Speaker 1>or the most in more than a month. This is

0:00:39.520 --> 0:00:42.120
<v Speaker 1>after GF Security has raised its rating on the server

0:00:42.200 --> 0:00:44.680
<v Speaker 1>maker to buy from Hold. The analyst there, Evan Lee,

0:00:45.200 --> 0:00:49.839
<v Speaker 1>sees higher AI server visibility while recent weakness has created

0:00:50.080 --> 0:00:53.920
<v Speaker 1>quote an attractive entry point as the underlying demand fundamentally

0:00:53.960 --> 0:00:55.520
<v Speaker 1>strengthens its long term growth.

0:00:55.560 --> 0:00:57.520
<v Speaker 3>Again those are the analyst words.

0:00:57.840 --> 0:01:01.720
<v Speaker 1>He also orders from SpaceX accelerate in twenty twenty seven,

0:01:02.280 --> 0:01:05.280
<v Speaker 1>said Evan Lee, the analyst there who has a forty

0:01:05.319 --> 0:01:07.760
<v Speaker 1>eight dollars price target on the stock. So that was

0:01:07.760 --> 0:01:10.520
<v Speaker 1>about a fifty seven percent increase from super Micro's closing

0:01:10.520 --> 0:01:11.800
<v Speaker 1>price on June eighteenth.

0:01:11.840 --> 0:01:12.959
<v Speaker 3>So you can see the.

0:01:12.920 --> 0:01:15.479
<v Speaker 1>Stock closing today at thirty five forty six a share,

0:01:15.520 --> 0:01:18.080
<v Speaker 1>so still below that forty eight dollars a share price target.

0:01:18.240 --> 0:01:20.520
<v Speaker 1>Stocks up more than twenty percent year to date, so

0:01:21.000 --> 0:01:24.160
<v Speaker 1>we have seen some movement in twenty twenty six. All right,

0:01:24.160 --> 0:01:26.600
<v Speaker 1>this is the name, it feels like everybody's talking about today,

0:01:26.640 --> 0:01:31.320
<v Speaker 1>Getty Images Holdings ticker is ge t Y. That stock again,

0:01:31.360 --> 0:01:34.039
<v Speaker 1>of about ninety percent in today's session. It did sore

0:01:34.080 --> 0:01:36.720
<v Speaker 1>as much as one hundred and forty five percent earlier

0:01:36.760 --> 0:01:38.600
<v Speaker 1>in this session. This is after the company announced a

0:01:38.640 --> 0:01:41.679
<v Speaker 1>licensing deal with open Ai. Getty said that images from

0:01:41.720 --> 0:01:45.279
<v Speaker 1>its library will appear in the search and discovery features

0:01:45.319 --> 0:01:46.640
<v Speaker 1>of Chatchipt, making a.

0:01:46.680 --> 0:01:49.560
<v Speaker 3>Key reversal for the firm.

0:01:49.680 --> 0:01:52.800
<v Speaker 1>Specifically, The companies did not talk about financial terms or

0:01:52.840 --> 0:01:55.560
<v Speaker 1>disclosed any details over whether Getty's images would be used

0:01:55.560 --> 0:01:56.840
<v Speaker 1>to train future.

0:01:56.560 --> 0:01:58.919
<v Speaker 3>Open A open ai models.

0:01:59.520 --> 0:02:02.600
<v Speaker 1>The partners with open ai I could improve licensing optics

0:02:02.600 --> 0:02:04.400
<v Speaker 1>and shift the narrative on the stack. This is according

0:02:04.440 --> 0:02:07.560
<v Speaker 1>to one analyst over at Benchmark, but nonetheless quite a

0:02:07.600 --> 0:02:08.960
<v Speaker 1>now performer in today's session.

0:02:09.080 --> 0:02:10.960
<v Speaker 3>And then I hope I'm saying this right.

0:02:11.160 --> 0:02:14.079
<v Speaker 1>Appa G Therapeutics APGE, So a little bit of deal

0:02:14.120 --> 0:02:18.080
<v Speaker 1>flow today ABVI agreeing to buy appa ge Therapeutics for

0:02:18.280 --> 0:02:22.600
<v Speaker 1>ten point nine billion to bolster it's anti inflammatory drug portfolio.

0:02:23.639 --> 0:02:26.680
<v Speaker 1>The share price reflecting a roughly forty nine percent premium

0:02:26.720 --> 0:02:30.560
<v Speaker 1>to apage's closing price on Thursday. So again we can

0:02:30.600 --> 0:02:33.919
<v Speaker 1>continue to see I feel like deals within the pharmaceutical space,

0:02:33.960 --> 0:02:36.120
<v Speaker 1>whether it's looking for a big company looking to kind

0:02:36.160 --> 0:02:37.440
<v Speaker 1>of fill out its pipeline.

0:02:37.480 --> 0:02:39.200
<v Speaker 3>So let's look at some of my gainers today.

0:02:39.280 --> 0:02:41.240
<v Speaker 4>All right, Well, speaking of deal day, you're.

0:02:41.120 --> 0:02:45.760
<v Speaker 3>So quiet, he's focused. Oh what you're saying? All right?

0:02:46.120 --> 0:02:48.359
<v Speaker 3>You mean those days when he interrupts me, he's not focused?

0:02:48.960 --> 0:02:49.840
<v Speaker 1>Is that what you're saying.

0:02:50.240 --> 0:02:53.600
<v Speaker 4>I'm going to jump in with some decliners. Shares Alphabet

0:02:53.960 --> 0:02:56.560
<v Speaker 4>down today by just over five percent. It was the

0:02:56.600 --> 0:02:58.919
<v Speaker 4>worst performing of the mag sav and actually the worst

0:02:59.000 --> 0:03:01.640
<v Speaker 4>day in your day going back to February of this year.

0:03:02.080 --> 0:03:04.280
<v Speaker 4>It's a talent war that sparked some of this sell off.

0:03:04.280 --> 0:03:07.079
<v Speaker 4>At least the company lost a second prominent AI researcher,

0:03:07.120 --> 0:03:10.480
<v Speaker 4>as Google deep Mind vice president John Jumper said Friday

0:03:10.520 --> 0:03:12.760
<v Speaker 4>he was leaving for Anthropic If his name sounds familiar.

0:03:12.800 --> 0:03:14.919
<v Speaker 4>He won the twenty twenty four Nobel Prize in Chemistry

0:03:14.960 --> 0:03:18.799
<v Speaker 4>for his work on AI. We also did see last

0:03:18.800 --> 0:03:21.880
<v Speaker 4>week one of Google's most prominent researchers said he was

0:03:21.960 --> 0:03:25.680
<v Speaker 4>leaving for rival Open AI. SpaceX shares fell for a

0:03:25.800 --> 0:03:27.959
<v Speaker 4>third day in a row. The company set it selling

0:03:28.080 --> 0:03:30.960
<v Speaker 4>investment grade bonds for the first time to fund its

0:03:31.000 --> 0:03:34.200
<v Speaker 4>AI ambitions. Shares at one hundred and fifty four dollars

0:03:34.240 --> 0:03:37.560
<v Speaker 4>and sixty cents they felt today by sixteen point four percent.

0:03:37.840 --> 0:03:40.280
<v Speaker 4>The company looking to raise at least twenty billion dollars

0:03:40.280 --> 0:03:43.360
<v Speaker 4>from the first bond offering. That's according to Bloomberg. We

0:03:43.400 --> 0:03:46.000
<v Speaker 4>also saw analyst at key Bank Capital Markets initiate the

0:03:46.000 --> 0:03:48.760
<v Speaker 4>stock with a recommendation of sector weight, writing that much

0:03:48.760 --> 0:03:51.000
<v Speaker 4>of the long term value was already captured in the

0:03:51.000 --> 0:03:54.160
<v Speaker 4>stock price once again. SpaceX shares down today by sixteen

0:03:54.200 --> 0:03:57.680
<v Speaker 4>point four percent, and finally watching shares of Netflix. They

0:03:57.720 --> 0:04:01.200
<v Speaker 4>fell on Monday, the company extending a sell off that's

0:04:01.240 --> 0:04:03.040
<v Speaker 4>taken it to the lowest level in more than a year,

0:04:03.080 --> 0:04:06.040
<v Speaker 4>down five point eight percent today. At one point, it

0:04:06.080 --> 0:04:08.280
<v Speaker 4>was the biggest intra day drop going back to April.

0:04:08.320 --> 0:04:10.920
<v Speaker 4>The stock trading against lois going back to October of

0:04:10.960 --> 0:04:13.720
<v Speaker 4>twenty twenty four, it's dropped more than thirty percent from

0:04:13.720 --> 0:04:16.040
<v Speaker 4>a peak back in April. We did hear from Meta

0:04:16.040 --> 0:04:19.240
<v Speaker 4>Platforms announcing that it's exploring new formats for its Instagram

0:04:19.640 --> 0:04:22.640
<v Speaker 4>for TV platform once again. Shares on Netflix down five

0:04:22.680 --> 0:04:23.880
<v Speaker 4>point eight percent.

0:04:24.760 --> 0:04:28.800
<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

0:04:28.880 --> 0:04:31.440
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:31.520 --> 0:04:34.640
<v Speaker 2>making news on Wall Street and for the latest market

0:04:34.640 --> 0:04:39.120
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:39.200 --> 0:04:42.719
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:42.800 --> 0:04:44.279
<v Speaker 2>the Bloomberg Business app.