Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This stock Mover's Report, your roundup of companies making moves
Speaker 2: in 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 Hager, joined by Bloomberg's Stan Curtis, coming back
Speaker 1: from a holiday, a long holiday weekend to the biggest
Speaker 1: stock mover to the upside by a long shot. This morning, Dan,
Speaker 1: what is happening with Seleno Therapeutics? Good morning, Good morning Nathan.
Speaker 3: That's right, we just got a headline saying that the
Speaker 3: trading is halted in the pre market pending news. This
Speaker 3: comes after The Financial Times reported that Neurocrin is an
Speaker 3: advanced talks to buy the rare disease biopharma company Soleno.
Speaker 3: Citing people familiar with the matter. The report says Seleno
Speaker 3: could be valued in a range of low to mid
Speaker 3: fifty dollars a share, and that deal could come together
Speaker 3: as soon as today. So with the with the halted
Speaker 3: pending news, that seems like we might be getting some
Speaker 3: news out shortly. Last year, Seleno won approval for a
Speaker 3: drug to treat insatiable hunger caused by a genetic disorder.
Speaker 3: Following that a short seller's Scorpion Capital accused the company
Speaker 3: of clinical trial issues, safety and efficacy concerns with the drug.
Speaker 3: Seleno said that the drugs launch was disrupted by the report,
Speaker 3: but in February it said the US launch was well underway.
Speaker 3: And now we're getting some news for the bulls in
Speaker 3: this company.
Speaker 1: And speaking of insatiable hunger, it seems like at least
Speaker 1: one analyst thinks that's what consumers are feeling for Tyson Foods.
Speaker 2: That's right.
Speaker 3: Tyson was upgraded to overweight from neutral at Piper Sandler.
Speaker 3: It is now the sixth by rating. The company also
Speaker 3: has two seals and eight holds. Price target at seventy
Speaker 3: five dollars a share, up from sixty one dollars. That
Speaker 3: has shares up one percent in pre market trading around
Speaker 3: sixty five dollars a share. The analyst notes the meat
Speaker 3: company has strong top line momentum, and it's benefiting from
Speaker 3: consumer shifting to protein, and that's also helping insulate it
Speaker 3: from GLP one risks.
Speaker 1: We're also seeing a pretty strong bid here this morning
Speaker 1: for Applied Opto Electronics.
Speaker 3: That's right, ticker AAoI Applied Opto Electronics is up over
Speaker 3: six percent in the pre market. That's after announced a
Speaker 3: new seventy one million dollar order from a hyperscale customer,
Speaker 3: bringing that unnamed customers orders to over one hundred and
Speaker 3: twenty million dollars in under a month. Applied opt To
Speaker 3: Electronics is a relatively small company, but it is in
Speaker 3: the optic space and that has seen an influxtion demand
Speaker 3: amid the AI data center build out. Hyperscalers are looking
Speaker 3: for ways to increase how fast they can transfer data
Speaker 3: and that's boltering the shares, which are up nearly two
Speaker 3: hundred percent so far this year. It's outpacing competitor Lumentum,
Speaker 3: which was added to the S and P five hundred recently.
Speaker 1: And that's not the only big tech name that's catching
Speaker 1: a bid this morning.
Speaker 2: That's right.
Speaker 3: We have tech in general taking stocks higher with a
Speaker 3: little bit of optimism this morning, although that optimism is
Speaker 3: coming back. Memory stocks Micron Sanddisc are up about three
Speaker 3: percent in the pre market. In video, which is one
Speaker 3: of the key bell weathers, that's up about two tenths
Speaker 3: of a percent. That's after we got an update from
Speaker 3: the world's largest electronics manufacturer, hanhi the Taiwan based company,
Speaker 3: reported nearly thirty percent rise in quarly sales in the
Speaker 3: first three months of the year. That comes amid concerns
Speaker 3: about the race to build out power hungry data centers
Speaker 3: in the face of the Iron War, which is pressuring
Speaker 3: energy prices, but so far it is looking strong based
Speaker 3: on what Hanhaigh updated with us this weekend.
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
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business out h