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: I'm Jim Stanovec along with Carol Masser, and we're joined
Speaker 3: by Bloomberg News Equities reporter Avalon at per Now with
Speaker 3: some stocks on the move, big news in the after
Speaker 3: hours today.
Speaker 4: Avalon absolutely, we can go ahead and start off with.
Speaker 1: It was shocking after shining.
Speaker 3: It's the right way to say.
Speaker 1: Again, I think we know it was coming at some point.
Speaker 1: Mark German did some great reporting back in mid March
Speaker 1: about who might be the air apparent, But man, when
Speaker 1: it hit the what we're talking about, Oh yeah, let's
Speaker 1: break the news. Well it's been broken.
Speaker 4: Very true. Apple ticker AAPL is now down about eight
Speaker 4: tenths of a percentage point in extended day trading. That's after,
Speaker 4: as you guys already mentioned, John Turnas is now going
Speaker 4: to become CEO effective September first. Tim Cook is going
Speaker 4: to be stepping aside and becoming Apple's executive chairman. So
Speaker 4: definitely also worth noting that Apple shares are up more
Speaker 4: than nineteen hundred percent since Tim Cook took over as
Speaker 4: CEO in twenty eleven.
Speaker 1: Yeah, quite a run. I mean he's been there for
Speaker 1: a long time. And as it turns out, John turnas
Speaker 1: who's been in charge of hardware. He's been at the
Speaker 1: company for a long time. And our Mark Goverman, when
Speaker 1: he did the reporting back in mid March, talked about
Speaker 1: he wanted somebody who knew the company, an insider, but
Speaker 1: he also wanted to be able to be there when
Speaker 1: the time came to help with the transition. So he
Speaker 1: will be there to help with the transition.
Speaker 2: Yeah.
Speaker 3: Tim Cook been at the helm of Apple, as you mentioned,
Speaker 3: since twenty eleven, but he was COO before that. He's
Speaker 3: been at the company since the nineties. John turnis the
Speaker 3: hardware chief, but he's been at the company going back
Speaker 3: to two thousand and one. The challenges remain though, for
Speaker 3: whoever you know runs this company. Yeah, it's going to
Speaker 3: be John Turnis. On September first, that transition to AI
Speaker 3: that has a lot of analysts and observers asking, Okay,
Speaker 3: how is Apple going to do this?
Speaker 1: Yeah, this is a story we know we're going to
Speaker 1: be talking about for some time, and terms is gonna
Speaker 1: take over. I think on September first of this year,
Speaker 1: so a little bit later on.
Speaker 3: And speaking of AI, a big AI investment moving shares
Speaker 3: of Amazon after hourstally.
Speaker 4: That's ticker am ZN. It is gaining about two point
Speaker 4: five percent also in the aftermarket period. That's after Ammon
Speaker 4: and Sawn said that it plans to invest five billion
Speaker 4: dollars in Anthropic well and up to an additional twenty
Speaker 4: billion dollars in the future. And that's also in exchange
Speaker 4: or as part of a plan. Anthropic plan to spend
Speaker 4: over one hundred billion dollars on AWS technology over the
Speaker 4: next decade. So just another example of these big deals
Speaker 4: in tech.
Speaker 1: That is big money massive, that is massive. What happened
Speaker 1: like all of the mags seven waking up after hours today,
Speaker 1: not all in the same time. It feels like, yeah,
Speaker 1: so we.
Speaker 3: Also had you know, Microsoft is a huge investor in
Speaker 3: open AI. Amazon has the capacity for Anthropic to use
Speaker 3: AWS for inference. So yeah, I mean this is a
Speaker 3: big money, big money yeah.
Speaker 1: I mean the AI spend man, especially among these big
Speaker 1: tech companies, these big hyperscalers, it is out there aggressively
Speaker 1: happening avalon.
Speaker 3: Remind us what shares of Amazon are doing after hours.
Speaker 4: Yes, they are up two point five percent.
Speaker 1: All right, I almost feel like go ahead, I should
Speaker 1: go ahead psychedelic drugs because this is like blowing my mind.
Speaker 1: So you went there, and this is all ahead of
Speaker 1: their earnings, right, this is going to be the next
Speaker 1: week or so all about big tech earnings, and so
Speaker 1: it'll be interesting that they're kind of getting all this
Speaker 1: stuff out. All right, So let's go to those psychedelic
Speaker 1: drugs because they were on the move.
Speaker 4: Today absolutely, Compass Pathways as ticker CMPs jumping about forty
Speaker 4: two percent into the close to not just biggest one
Speaker 4: day leap since twenty twenty. And that's after President Trump
Speaker 4: said that he signed an executive order to expedite research
Speaker 4: and access to psychedelics used outside of the US. Countries
Speaker 4: like Australia and Jamaica and even Canada already allow some
Speaker 4: of the substances to be utilized for patients with PTSD
Speaker 4: or major depressive disorder. And so Compass is pursuing clinical
Speaker 4: trials of experimental therapies derived from psilocybin to treat PTSD
Speaker 4: and treatment resistant depression. And you have a lot of
Speaker 4: excitement in the space. Jeffrey's even writing that they expect
Speaker 4: investor interests to continue to rise meaningfully before those potential
Speaker 4: approvals that could happen as early as twenty twenty seven.
Speaker 1: Yeah, this is fascinating and just a little cheap plug here,
Speaker 1: but we talked to the Compass Pathways CEO ChB. R.
Speaker 1: Math thank you very much about this, and he saw
Speaker 1: this executive order as really a big move forward. There
Speaker 1: are still some things to be worked out, but this
Speaker 1: is pretty significant. But like you said, this name and
Speaker 1: all the names in the space were really on a
Speaker 1: tear today.
Speaker 3: Yeah, surprised to see too. You know who was in
Speaker 3: the Oval office on that all over the weekend.
Speaker 1: Why were you surprised?
Speaker 3: Well, first of all, was a weekend. The President typically
Speaker 3: doesn't do those executive order signings, you know, open to
Speaker 3: press on the weekend, like he's usually going somewhere. But look,
Speaker 3: you know our White House team they were on it,
Speaker 3: so they got to see it. But Joe Rogan was
Speaker 3: in there. Yes, it's interesting.
Speaker 1: Yeah, I think he's talked about it right a lot
Speaker 1: on his podcast, Okay Hussey, Yeah.
Speaker 4: Oh yeah, I mean biohackers are also very into the
Speaker 4: idea of like what psychedelics and other substances can be
Speaker 4: used for as alternatives to more traditional medicine.
Speaker 3: So not not even beyond PTSD and treatment resistant depression.
Speaker 3: Yeah wow, okay Avalon Prenell, Bloomberg News Equities Reporter. For
Speaker 3: more conversations like this, check out our new Stock Movers podcast.
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Speaker 3: get your podcasts.
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Speaker 1: Mm hmm