WEBVTT - NextEra Falls, Seagate Slips, Regeneron Sinks

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

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<v Speaker 2>The Stock Movers 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 3>And Jim Cenebec along with Carol Masser, We're joined by

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<v Speaker 3>Alexandra Semenova. She is Bloberg News Equities reporter and she

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<v Speaker 3>is at Bloomberg headquarters in New York. Alex what are

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<v Speaker 3>you watching, hey, guys?

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<v Speaker 1>So this was the deal of the day today. All

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<v Speaker 1>attention from investors was on this mega deal. Next Era

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<v Speaker 1>Energy agreed to buy Dominion Energy for about sixty seven

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<v Speaker 1>million billion dollars rather in stock. This is the biggest

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<v Speaker 1>power acquisition ever. This merger creates a giant utility company

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<v Speaker 1>that extends from Florida to all the data centers in

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<v Speaker 1>Virginia and really highlights the demand for electricity when it

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<v Speaker 1>comes to the buildout of artificial intelligence. And just looking

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<v Speaker 1>at the share moves today, next Era down about four

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<v Speaker 1>point six percent on but Dominion Energy closing up nine

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<v Speaker 1>point four percent. Next Era would pay the equivalent of

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<v Speaker 1>about seventy six dollars per share for Dominion. The company

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<v Speaker 1>said this in a statement today, confirming Bloomberg reporting that

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<v Speaker 1>represents a takeover premium of about twenty three percent based

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<v Speaker 1>on Friday's closing price.

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<v Speaker 3>Guys, not too savvy and always good to be the

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<v Speaker 3>target rather than the acquirer. You see the play out, Hey,

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<v Speaker 3>talk to us about Seagate Technology.

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<v Speaker 2>We know you've been watching this one today.

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<v Speaker 1>Yeah, this one was really highlighting how fragile the AI

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<v Speaker 1>trade is getting after six consecutive weeks of gains. Any

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<v Speaker 1>disappointing results for the chip makers could really see this

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<v Speaker 1>unwind continue like it has been over the last couple

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<v Speaker 1>of trading days. Seagate Technology sliding today ten percent, having

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<v Speaker 1>its worst day since last April at the onset of tariffs.

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<v Speaker 1>This is after management commentary at a JP Morgan conference

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<v Speaker 1>saying that they basically don't expect that they'll be able

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<v Speaker 1>to meet the demand for memory chips. Ce CEO said

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<v Speaker 1>that building new factories would quote take too long. That

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<v Speaker 1>comment really spooking investors, and the declines, of course come

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<v Speaker 1>amid a torrid rally in semiconductors broadly. We also saw

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<v Speaker 1>other companies falling today in sympathy, SanDisk, Credo Technology, and

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<v Speaker 1>of course the Philadelphia Stock Exchange. Semiconductor index also down

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<v Speaker 1>on the day.

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<v Speaker 3>All right, So from chips and memory to pharmaceutic goals regeneron,

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<v Speaker 3>what's going on with degeneron today.

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<v Speaker 1>Yeah, a really disappointing result for this company on a

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<v Speaker 1>Phase three trial for its melanoma drug. This led to

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<v Speaker 1>at least ten analysts across Wall Street slashing their rating

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<v Speaker 1>on the stock and seeing shares decline in a big way.

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<v Speaker 1>Looking at the company, it is down nine point eight percent,

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<v Speaker 1>which is the worst day since May thirtieth of last year.

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<v Speaker 1>The biotech was aiming to show some improvement in patients

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<v Speaker 1>with metastatic melanoma, but they didn't have a statistically significant

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<v Speaker 1>enough number when it came to how long patients lived

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<v Speaker 1>before their cancer progressed. BEMO analyst said that this was

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<v Speaker 1>a huge inflection point for the first half of twenty

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<v Speaker 1>twenty six. They were expecting positive results, and they said

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<v Speaker 1>that sentiment was inextricably tied to how this trial would go,

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<v Speaker 1>hence disappointing investors.

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<v Speaker 2>The stock Moover's report from Bloomberg Radio. Check back with

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