WEBVTT - Concentrix Falls, Jefferies Mixed, ImmunityBio Down as FDA Issues Warning Letter on Cancer Claims 

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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

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<v Speaker 3>Stake a look at some of the stocks on the

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<v Speaker 3>move today. We can do that with avanon her now

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<v Speaker 3>Bloomberg News. She joins us here in study Avalon, What

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<v Speaker 3>are you looking at?

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<v Speaker 1>Yeah, we can go ahead and start off with concentrics

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<v Speaker 1>stutsticker cnxseed down about twenty three percent to hit a

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<v Speaker 1>record low. That's after a firm second quarter forecast was

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<v Speaker 1>weaker than expected. It's adjusted earnings for share guidance missed expectations,

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<v Speaker 1>and also the midpoint of its revenue range also fell

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<v Speaker 1>short of what investors are expecting, which is kind of

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<v Speaker 1>poorly time, considering investors already have a ton of questions

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<v Speaker 1>about what structural threats AI will pose to its business.

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<v Speaker 1>All right, Next up on your list, yes, Jeffreys ticker JEF,

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<v Speaker 1>which is up about three point seven percent. That's after

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<v Speaker 1>The Financial Times reported a little bit earlier today that

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<v Speaker 1>the Japan based bank SMFG is working on plans for

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<v Speaker 1>possible Jeffries buy out. It's kind of interesting timing considering

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<v Speaker 1>Jeffries has been under a lot of pressure this year,

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<v Speaker 1>considering all of the credit risk that the company has

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<v Speaker 1>been caught up in. I'm thinking about like first brands

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<v Speaker 1>market financial solutions. But before this news it was down

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<v Speaker 1>about thirty six percent this year. And Bloomberg Co Intelligence

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<v Speaker 1>is actually out with a note saying that the potential

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<v Speaker 1>takeover by SMFG appears more opportunistic as opposed to imminent,

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<v Speaker 1>as we continue to report that there are no active talks.

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<v Speaker 3>And that bank already owns I looked it up on

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<v Speaker 3>the bloomber turmil about four and a half percent of

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<v Speaker 3>Jeffrey's already, So this might be an opportunity to take

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<v Speaker 3>advantage of some weakness and up that stake here. Jeffries is,

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<v Speaker 3>having competed against them for many years, are very very

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<v Speaker 3>good of what they do. They have their niches and

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<v Speaker 3>they hire and through resources that those niches, and they

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<v Speaker 3>compete well.

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<v Speaker 1>One more, yes, Immunity Bio that's ticker IBRX, thinking about

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<v Speaker 1>twenty two percent for its biggest tumble since twenty twenty four.

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<v Speaker 1>That's after the FDA issued a warning letter to the

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<v Speaker 1>biotech for false and potentially misleading promotion of its bladder

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<v Speaker 1>cancer drug and Ktiva issue was a recent TV add

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<v Speaker 1>and also the firm's billionaire executive chairman Patrick Sounschung's rhetoric

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<v Speaker 1>on the Sean Spicer Show. You said the drug could

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<v Speaker 1>treat all cancers. However, it's currently only approved for a

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<v Speaker 1>very specific kind of bladder cancer. Still worth noting that

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<v Speaker 1>before today the stock was up three hundred and seventy

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<v Speaker 1>five percent this year, so I don't think people are

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<v Speaker 1>gonna be that worried.

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<v Speaker 2>The stock movers report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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