Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market. Harnessing the power of Bloomberg Data.
Speaker 3: Stake a look at some of the stocks on the
Speaker 3: move today. We can do that with avanon her now
Speaker 3: Bloomberg News. She joins us here in study Avalon, What
Speaker 3: are you looking at?
Speaker 1: Yeah, we can go ahead and start off with concentrics
Speaker 1: stutsticker cnxseed down about twenty three percent to hit a
Speaker 1: record low. That's after a firm second quarter forecast was
Speaker 1: weaker than expected. It's adjusted earnings for share guidance missed expectations,
Speaker 1: and also the midpoint of its revenue range also fell
Speaker 1: short of what investors are expecting, which is kind of
Speaker 1: poorly time, considering investors already have a ton of questions
Speaker 1: about what structural threats AI will pose to its business.
Speaker 1: All right, Next up on your list, yes, Jeffreys ticker JEF,
Speaker 1: which is up about three point seven percent. That's after
Speaker 1: The Financial Times reported a little bit earlier today that
Speaker 1: the Japan based bank SMFG is working on plans for
Speaker 1: possible Jeffries buy out. It's kind of interesting timing considering
Speaker 1: Jeffries has been under a lot of pressure this year,
Speaker 1: considering all of the credit risk that the company has
Speaker 1: been caught up in. I'm thinking about like first brands
Speaker 1: market financial solutions. But before this news it was down
Speaker 1: about thirty six percent this year. And Bloomberg Co Intelligence
Speaker 1: is actually out with a note saying that the potential
Speaker 1: takeover by SMFG appears more opportunistic as opposed to imminent,
Speaker 1: as we continue to report that there are no active talks.
Speaker 3: And that bank already owns I looked it up on
Speaker 3: the bloomber turmil about four and a half percent of
Speaker 3: Jeffrey's already, So this might be an opportunity to take
Speaker 3: advantage of some weakness and up that stake here. Jeffries is,
Speaker 3: having competed against them for many years, are very very
Speaker 3: good of what they do. They have their niches and
Speaker 3: they hire and through resources that those niches, and they
Speaker 3: compete well.
Speaker 1: One more, yes, Immunity Bio that's ticker IBRX, thinking about
Speaker 1: twenty two percent for its biggest tumble since twenty twenty four.
Speaker 1: That's after the FDA issued a warning letter to the
Speaker 1: biotech for false and potentially misleading promotion of its bladder
Speaker 1: cancer drug and Ktiva issue was a recent TV add
Speaker 1: and also the firm's billionaire executive chairman Patrick Sounschung's rhetoric
Speaker 1: on the Sean Spicer Show. You said the drug could
Speaker 1: treat all cancers. However, it's currently only approved for a
Speaker 1: very specific kind of bladder cancer. Still worth noting that
Speaker 1: before today the stock was up three hundred and seventy
Speaker 1: five percent this year, so I don't think people are
Speaker 1: gonna be that worried.
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