WEBVTT - Citi Gains, Adobe/Figma Slide, Travere Therapeutics Soars

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

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<v Speaker 2>The Stock Mover's 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 1>I'm Jim Steadewek along with Carol Masser. Let's take a

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<v Speaker 1>look at some stocks on the move today. We're joined

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<v Speaker 1>by Bloomberg News Equities reporter Avalon Parnell Avalon. What are

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<v Speaker 1>you watching?

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<v Speaker 3>You can go ahead and start off with City Group.

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<v Speaker 3>That's ticker. See it rose two point six percent into

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<v Speaker 3>the close to end at its highest level since two

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<v Speaker 3>thousand and eight, which we all know why. That's a

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<v Speaker 3>big deal considering they've been in the midst of a

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<v Speaker 3>pretty long turnaround, and that's after the banklogged it's best

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<v Speaker 3>returns in five years despite a pretty volatile first quarter.

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<v Speaker 3>I think we can all say in the markets, Ana

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<v Speaker 3>Lyts say that the print was welcome news for many investors,

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<v Speaker 3>and Piper Sandler writing that the results were better than

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<v Speaker 3>expected nearly across the board.

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<v Speaker 2>That is wild.

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<v Speaker 3>Yeah, I feel like, considering what's not happening the base

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<v Speaker 3>outside of it was very easy to kind of get

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<v Speaker 3>focused on the downside, but clearly a little bit of

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<v Speaker 3>upside in city.

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<v Speaker 4>I mean there was a point with that stock drop

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<v Speaker 4>down to nothing dollar a share?

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<v Speaker 1>Where when was that? Two thousand and.

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<v Speaker 4>Eight and where I'm looking at my chart two thousand

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<v Speaker 4>and nine eight?

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<v Speaker 1>Is that right it?

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<v Speaker 4>I think maybe it was intra day, but it was

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<v Speaker 4>like nothing, I keep saying a dollar share, So God,

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<v Speaker 4>wouldn't that be terrible? Like okay, I'm just looking at

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<v Speaker 4>the chart. But it's really remarkable how much that we've

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<v Speaker 4>seen it go. I mean, it really did nothing for

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<v Speaker 4>such a long yeah, long long time. Okay, Okay, that's

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<v Speaker 4>what happened avalon and we give her all the.

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<v Speaker 1>Time because she comes in at four fifty.

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<v Speaker 4>Well, you say things that actually make us like think

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<v Speaker 4>and want to look more. It's really good anyway, go ahead, all.

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<v Speaker 1>Right, So let's go to some tech players.

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<v Speaker 3>Yes, so we have Adobe that's took her ADB and Figma,

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<v Speaker 3>which is to or fig very easy to remember. Big

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<v Speaker 3>Mus slid about four percent and Adobe dipped to one

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<v Speaker 3>point eight percent into the close. That's after the Information

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<v Speaker 3>reported that Anthropic is preparing its next flagship model, Claude Opus.

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<v Speaker 3>I kind of like that name. It's also preparing some

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<v Speaker 3>AI tools for designing websites and presentations, and practically everyone

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<v Speaker 3>continues to be scared about what exactly does that mean

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<v Speaker 3>for stocks like Adobe and Pigma, which are pretty big

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<v Speaker 3>software players in this space. Bloomberg Intelligence writing that they

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<v Speaker 3>expect the headline risk related to AI disruption to be

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<v Speaker 3>amplified with the release of Anthropics new model, and that

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<v Speaker 3>it will especially impact Figma and Adobe.

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<v Speaker 1>Bigma's down more than fifty percent this year. Yes, do

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<v Speaker 1>you remember this was a stock that after its IPO. Yeah,

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<v Speaker 1>one hundred and twenty two dollars a share. This is

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<v Speaker 1>back in August of twenty twenty five. It's now down

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<v Speaker 1>eighty five percent since then.

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<v Speaker 3>Wow.

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<v Speaker 4>Yeah, that's a big that's a big drop.

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<v Speaker 1>That's huge. So this is Nowgma now has a marketing

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<v Speaker 1>tap about nine point six billion dollars. Okay, you got

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<v Speaker 1>me thinking about Figma.

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<v Speaker 2>See this is what you do.

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<v Speaker 1>I know it is.

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<v Speaker 4>It's really cool.

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<v Speaker 1>Actually, you make us think you do.

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<v Speaker 4>You make us like like we're looking at something that

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<v Speaker 4>we maybe weren't looking at before.

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<v Speaker 1>It's very cool and remind us of the trouble we

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<v Speaker 1>have sticking to a single task. That's also true. We

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<v Speaker 1>really Okay, one of the reasons we love talking to

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<v Speaker 1>you is because your connection to healthcare.

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<v Speaker 3>Absolutely, so we can end with Travie Therapeutics. That's ticker TVTX.

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<v Speaker 3>Maybe you haven't heard of this name, but it surged

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<v Speaker 3>thirty seven percent to hit its highest level since two

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<v Speaker 3>thousand and five, and that's after the biotech's treatment for

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<v Speaker 3>a rare kidney disease one FDA approval in the US.

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<v Speaker 3>TD Cohen writing that the approval is a hamewark event,

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<v Speaker 3>especially considering this is the first and only therapy for

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<v Speaker 3>this rare kidney disease. Current estimates are about forty thousand

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<v Speaker 3>people in the US are impacted by it, So definitely

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<v Speaker 3>good news for the patients and also for a stock.

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<v Speaker 4>Yeah, absolutely like a solution. Hey, I just want you

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<v Speaker 4>to know I did go back and just checked on city.

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<v Speaker 4>It wasn't like, you know, crazy, here we go. They

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<v Speaker 4>briefly trade a below a dollar, hitting ninety seven cents

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<v Speaker 4>intra day on March in March fifth, two thousand and nine.

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<v Speaker 4>I remember because I remember thinking, you know, why did

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<v Speaker 4>you just throw like one thousand dollars or something that

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<v Speaker 4>you know we were so in it and you know

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<v Speaker 4>we have it would be up six, I mean.

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<v Speaker 1>Or more no, no, no, for what was it? It

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<v Speaker 1>was a dollar, it was below a.

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<v Speaker 4>Dollar for a moment. Wow, Like it's just like at

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<v Speaker 4>the depth of the financial crisis. So it's just you know,

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<v Speaker 4>you kind of think about it. But for a very

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<v Speaker 4>long time the stock didn't go anywhere if you look

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<v Speaker 4>at the chart. But interesting to see kind of where

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<v Speaker 4>it is today.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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