Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: And Jim Cenebec along with Carol Masser, We're joined by
Speaker 3: Alexandra Semenova. She is Bloberg News Equities reporter and she
Speaker 3: is at Bloomberg headquarters in New York. Alex what are
Speaker 3: you watching, hey, guys?
Speaker 1: So this was the deal of the day today. All
Speaker 1: attention from investors was on this mega deal. Next Era
Speaker 1: Energy agreed to buy Dominion Energy for about sixty seven
Speaker 1: million billion dollars rather in stock. This is the biggest
Speaker 1: power acquisition ever. This merger creates a giant utility company
Speaker 1: that extends from Florida to all the data centers in
Speaker 1: Virginia and really highlights the demand for electricity when it
Speaker 1: comes to the buildout of artificial intelligence. And just looking
Speaker 1: at the share moves today, next Era down about four
Speaker 1: point six percent on but Dominion Energy closing up nine
Speaker 1: point four percent. Next Era would pay the equivalent of
Speaker 1: about seventy six dollars per share for Dominion. The company
Speaker 1: said this in a statement today, confirming Bloomberg reporting that
Speaker 1: represents a takeover premium of about twenty three percent based
Speaker 1: on Friday's closing price.
Speaker 3: Guys, not too savvy and always good to be the
Speaker 3: target rather than the acquirer. You see the play out, Hey,
Speaker 3: talk to us about Seagate Technology.
Speaker 2: We know you've been watching this one today.
Speaker 1: Yeah, this one was really highlighting how fragile the AI
Speaker 1: trade is getting after six consecutive weeks of gains. Any
Speaker 1: disappointing results for the chip makers could really see this
Speaker 1: unwind continue like it has been over the last couple
Speaker 1: of trading days. Seagate Technology sliding today ten percent, having
Speaker 1: its worst day since last April at the onset of tariffs.
Speaker 1: This is after management commentary at a JP Morgan conference
Speaker 1: saying that they basically don't expect that they'll be able
Speaker 1: to meet the demand for memory chips. Ce CEO said
Speaker 1: that building new factories would quote take too long. That
Speaker 1: comment really spooking investors, and the declines, of course come
Speaker 1: amid a torrid rally in semiconductors broadly. We also saw
Speaker 1: other companies falling today in sympathy, SanDisk, Credo Technology, and
Speaker 1: of course the Philadelphia Stock Exchange. Semiconductor index also down
Speaker 1: on the day.
Speaker 3: All right, So from chips and memory to pharmaceutic goals regeneron,
Speaker 3: what's going on with degeneron today.
Speaker 1: Yeah, a really disappointing result for this company on a
Speaker 1: Phase three trial for its melanoma drug. This led to
Speaker 1: at least ten analysts across Wall Street slashing their rating
Speaker 1: on the stock and seeing shares decline in a big way.
Speaker 1: Looking at the company, it is down nine point eight percent,
Speaker 1: which is the worst day since May thirtieth of last year.
Speaker 1: The biotech was aiming to show some improvement in patients
Speaker 1: with metastatic melanoma, but they didn't have a statistically significant
Speaker 1: enough number when it came to how long patients lived
Speaker 1: before their cancer progressed. BEMO analyst said that this was
Speaker 1: a huge inflection point for the first half of twenty
Speaker 1: twenty six. They were expecting positive results, and they said
Speaker 1: that sentiment was inextricably tied to how this trial would go,
Speaker 1: hence disappointing investors.
Speaker 2: The stock Moover's 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 app.