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: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel in a
Speaker 3: morning where I've got my list of the most actively
Speaker 3: traded stocks in the pre market up this morning, Valerie,
Speaker 3: every single one of them is in the green.
Speaker 4: Where do you want to starch?
Speaker 1: Good morning, Hey, Look, it is a positive day for
Speaker 1: the equity market and leading those gains for the Mac
Speaker 1: seven is Nvidia, up nearly two and a half percent
Speaker 1: in overnight trade.
Speaker 4: This is just on the back of the fact that the.
Speaker 1: FED cut rates yesterday because they can not necessarily because
Speaker 1: they have to, and I think that's led to a
Speaker 1: reassessment that it's risk gone after this FED cut.
Speaker 4: It's funny that Navidia is surging.
Speaker 1: So much because there actually was some negative news that
Speaker 1: came out of China overnight. Huawei said that they have
Speaker 1: unveiled a new AI chip technology with greater computing power
Speaker 1: in a bid to challenge Navidia's dominance in the AI
Speaker 1: chip space, but that has not deterred the tech rally.
Speaker 4: We're seeing it in US futures.
Speaker 1: We're also seeing it in Europe where were stocks like asml, asm,
Speaker 1: Infini and st.
Speaker 4: Micro all up near four percent.
Speaker 1: So it's a positive day for the AI trade on
Speaker 1: both sides of the Atlantic.
Speaker 4: Yeah, no question.
Speaker 3: And we've also got some deal news in the pharma
Speaker 3: space on the other side of the pond.
Speaker 4: Now, this has to do with the obesity drug Race.
Speaker 1: Roche, the Swiss pharma company, has agreed to buy eighty
Speaker 1: nine bio for over an eighty percent premium. We're seeing
Speaker 1: shares of eighty nine bio up over eighty three percent
Speaker 1: in the pre market.
Speaker 2: Now.
Speaker 1: This is Roche's third acquisition to try to position itself
Speaker 1: better in the obesity the obesity drug Race eighty nine
Speaker 1: bio develops therapies from metabolic diseases and has a key
Speaker 1: drug in late stage development that Roche is keen for.
Speaker 1: Roach agreed to pay fourteen dollars and fifty cents per
Speaker 1: share and have also agreed for a six dollars per
Speaker 1: share later.
Speaker 4: If certain milestones are mets.
Speaker 1: This is another landmark deal for Roch, who's trying to
Speaker 1: compete and catch up with Novo Nordisk and Eli Lilly
Speaker 1: in the OBSD drug space.
Speaker 3: Now in this sea of green, there is some red
Speaker 3: to talk about. Tell us what's going on with Redcat.
Speaker 1: This one is a kind of a cool story though,
Speaker 1: So yes, Redcat is down near seven percent.
Speaker 4: This is a drone stock.
Speaker 1: Got a lot of attention on the Departments of Defense's
Speaker 1: new drone focus of late they announced a proposed public
Speaker 1: offering of shares. Now the scant details on size and
Speaker 1: terms that was not announced yet, but it intends to
Speaker 1: use the proceeds for working capital for CAPEX spending related
Speaker 1: to unmanned surface vessels, which is essentially drone warships. The
Speaker 1: pictures are pretty cool that I've googled online of what
Speaker 1: a drone warship looks like. So maybe a positive news
Speaker 1: for the stock in some way that they are looking
Speaker 1: for other markets outside of just air air based drone
Speaker 1: technology to help out with the Department of Defense.
Speaker 3: Plate and another downside mover this morning, while we wait
Speaker 3: for big earnings from FedEx, we got earnings as well
Speaker 3: from Cracker Barrel. After the logo matter, how's Cracker Barrel
Speaker 3: doing this morning?
Speaker 1: Yeah, it's not doing very well. It's down near ten percent.
Speaker 1: They gave a sales guidance which missed expectations, and also
Speaker 1: the previous quarters sales numbers weren't too strong. They're really
Speaker 1: predicting stagnating growth, similar to what they saw at the
Speaker 1: end of last year for this restaurant chain. But they're
Speaker 1: also dealing with the backlash after attempting to streamline their logo.
Speaker 4: They removed Uncle Herschel.
Speaker 1: Which I actually didn't know that he had a name,
Speaker 1: but they removed Uncle Herschel from their logo. It attracted
Speaker 1: widespread backlash, even from the US President, So they're still
Speaker 1: dealing with that, even though they have swapped their logo
Speaker 1: back to what it used to be and they've halted
Speaker 1: remodeling of their restaurants, but their stock is still down
Speaker 1: ten percent today.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
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