WEBVTT - Soleno Shares Rally; Tyson Rises; Applied Opto Gains

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This stock Mover's Report, your roundup of companies making moves

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<v Speaker 2>in the stock market. Harnessing the power of Bloomberg data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Stan Curtis, coming back

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<v Speaker 1>from a holiday, a long holiday weekend to the biggest

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<v Speaker 1>stock mover to the upside by a long shot. This morning, Dan,

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<v Speaker 1>what is happening with Seleno Therapeutics? Good morning, Good morning Nathan.

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<v Speaker 3>That's right, we just got a headline saying that the

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<v Speaker 3>trading is halted in the pre market pending news. This

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<v Speaker 3>comes after The Financial Times reported that Neurocrin is an

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<v Speaker 3>advanced talks to buy the rare disease biopharma company Soleno.

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<v Speaker 3>Citing people familiar with the matter. The report says Seleno

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<v Speaker 3>could be valued in a range of low to mid

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<v Speaker 3>fifty dollars a share, and that deal could come together

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<v Speaker 3>as soon as today. So with the with the halted

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<v Speaker 3>pending news, that seems like we might be getting some

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<v Speaker 3>news out shortly. Last year, Seleno won approval for a

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<v Speaker 3>drug to treat insatiable hunger caused by a genetic disorder.

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<v Speaker 3>Following that a short seller's Scorpion Capital accused the company

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<v Speaker 3>of clinical trial issues, safety and efficacy concerns with the drug.

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<v Speaker 3>Seleno said that the drugs launch was disrupted by the report,

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<v Speaker 3>but in February it said the US launch was well underway.

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<v Speaker 3>And now we're getting some news for the bulls in

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<v Speaker 3>this company.

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<v Speaker 1>And speaking of insatiable hunger, it seems like at least

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<v Speaker 1>one analyst thinks that's what consumers are feeling for Tyson Foods.

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<v Speaker 2>That's right.

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<v Speaker 3>Tyson was upgraded to overweight from neutral at Piper Sandler.

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<v Speaker 3>It is now the sixth by rating. The company also

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<v Speaker 3>has two seals and eight holds. Price target at seventy

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<v Speaker 3>five dollars a share, up from sixty one dollars. That

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<v Speaker 3>has shares up one percent in pre market trading around

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<v Speaker 3>sixty five dollars a share. The analyst notes the meat

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<v Speaker 3>company has strong top line momentum, and it's benefiting from

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<v Speaker 3>consumer shifting to protein, and that's also helping insulate it

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<v Speaker 3>from GLP one risks.

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<v Speaker 1>We're also seeing a pretty strong bid here this morning

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<v Speaker 1>for Applied Opto Electronics.

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<v Speaker 3>That's right, ticker AAoI Applied Opto Electronics is up over

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<v Speaker 3>six percent in the pre market. That's after announced a

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<v Speaker 3>new seventy one million dollar order from a hyperscale customer,

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<v Speaker 3>bringing that unnamed customers orders to over one hundred and

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<v Speaker 3>twenty million dollars in under a month. Applied opt To

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<v Speaker 3>Electronics is a relatively small company, but it is in

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<v Speaker 3>the optic space and that has seen an influxtion demand

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<v Speaker 3>amid the AI data center build out. Hyperscalers are looking

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<v Speaker 3>for ways to increase how fast they can transfer data

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<v Speaker 3>and that's boltering the shares, which are up nearly two

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<v Speaker 3>hundred percent so far this year. It's outpacing competitor Lumentum,

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<v Speaker 3>which was added to the S and P five hundred recently.

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<v Speaker 1>And that's not the only big tech name that's catching

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<v Speaker 1>a bid this morning.

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<v Speaker 2>That's right.

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<v Speaker 3>We have tech in general taking stocks higher with a

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<v Speaker 3>little bit of optimism this morning, although that optimism is

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<v Speaker 3>coming back. Memory stocks Micron Sanddisc are up about three

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<v Speaker 3>percent in the pre market. In video, which is one

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<v Speaker 3>of the key bell weathers, that's up about two tenths

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<v Speaker 3>of a percent. That's after we got an update from

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<v Speaker 3>the world's largest electronics manufacturer, hanhi the Taiwan based company,

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<v Speaker 3>reported nearly thirty percent rise in quarly sales in the

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<v Speaker 3>first three months of the year. That comes amid concerns

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<v Speaker 3>about the race to build out power hungry data centers

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<v Speaker 3>in the face of the Iron War, which is pressuring

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<v Speaker 3>energy prices, but so far it is looking strong based

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<v Speaker 3>on what Hanhaigh updated with us this weekend.

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<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

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