WEBVTT - Applied Materials Tumbles; WBD Edges Higher; Merck Nears Cidara Deal

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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 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Kritty Goupda on a

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<v Speaker 3>morning where it looks like the tech led sell off

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<v Speaker 3>is going to continue, and Applied Materials in focus as

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<v Speaker 3>part of that story.

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<v Speaker 1>Critty, good morning, Good morning, Nathan.

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<v Speaker 4>It's the mover that's kind of having a ripple effect

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<v Speaker 4>that's bigger than I think a lot of people would

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<v Speaker 4>expect it. Amat is your tigger this morning for applied materials,

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<v Speaker 4>of course, the chip equipment maker that feeds into the

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<v Speaker 4>supply chains for a lot of these chip stocks that

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<v Speaker 4>have been, you know, just rallying quite a bit. So

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<v Speaker 4>it's a really great take on how the industry is

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<v Speaker 4>doing and whether it actually has some momentum. Well, they

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<v Speaker 4>came out with their earnings after the bell yesterday and

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<v Speaker 4>they said their last quarter was not so hot, and

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<v Speaker 4>they're saying this quarter will not be so hot. So

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<v Speaker 4>a lot of those expectations around the chip sector really

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<v Speaker 4>thrown kind of under under some cold water because of

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<v Speaker 4>their comments. They're blaming the trade restrictions with China for

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<v Speaker 4>a good chunk of that, basically saying that's weighing on

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<v Speaker 4>chip demand and therefore on chip equipment as well. They're

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<v Speaker 4>also talking about kind of the market being a little

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<v Speaker 4>oversupplied as well. Nevertheless, their sales are dropping. They're seeing

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<v Speaker 4>there's a rebound next year come twenty twenty six, but

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<v Speaker 4>the market is looking at this and does not believe

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<v Speaker 4>it those years. Down about six percent this morning, trading

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<v Speaker 4>at about two hundred dollars two hundred and ten dollars

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<v Speaker 4>excuse me and change. But the ripple effect I think

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<v Speaker 4>is really interesting here because you are seeing it show

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<v Speaker 4>up in all the tech companies plus all the semi

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<v Speaker 4>companies as well. So I'm seeing LAMB Research, AMD and Nvidia, Intel,

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<v Speaker 4>even Pallenteer, maybe a little bit.

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<v Speaker 1>Of Tesla in there.

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<v Speaker 4>You name it, if it's a tech or a chip

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<v Speaker 4>stock or somewhere in that universe.

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<v Speaker 1>It's down by circa two to three percent this morning.

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<v Speaker 4>I think that's a pretty significant tone setter from applied materials.

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<v Speaker 4>It's also your biggest mover to the downside that being said,

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<v Speaker 4>I think we talk about the fun stuff, which is

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<v Speaker 4>M and A Friday if we can.

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<v Speaker 1>I guess like it doesn't it very exciting.

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<v Speaker 4>I feel like now every stock hit is really just

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<v Speaker 4>a what deals are happening kind of hit.

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<v Speaker 1>The biggest mover to the upside.

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<v Speaker 4>We'll give a little bit of a boost here comes

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<v Speaker 4>from Warner Brothers Discovery in the S and P five

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<v Speaker 4>hundred WBD is your ticker. Shares trading just under twenty

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<v Speaker 4>three dollars a share hired by almost three percent this morning.

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<v Speaker 4>This is all in the M and A space. There

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<v Speaker 4>is now reports from the Wall Street Journal as of

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<v Speaker 4>after the bell last night that Paramount, Comcast and Netflix.

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<v Speaker 1>Are bidding for Warner Brothers.

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<v Speaker 4>There's also some news out there that the CEO has

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<v Speaker 4>their contract amended David Saslov to protect the pay that

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<v Speaker 4>he has in the case of a sale. The deadline

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<v Speaker 4>is about November twentieth, or about six days away. So

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<v Speaker 4>seeing some like real believability that Warner Brothers Discovery will

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<v Speaker 4>have a new owner come the new year.

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<v Speaker 1>At least that's the expectation this point. I mean that's

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<v Speaker 1>for speculation.

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<v Speaker 4>Cocktail WBD hire by three percent, trading at about twenty

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<v Speaker 4>three dollars a share. There's also some other deals in

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<v Speaker 4>the space coming out. Merk is officially buying Sidera Therapeutics,

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<v Speaker 4>so you're seeing mark shares slightly lower in the pre market,

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<v Speaker 4>down eight tons of one percent. MRK is your checker

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<v Speaker 4>trading just shy of ninety three dollars a sharre and

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<v Speaker 4>I'm just going to quickly get your Sidra Therapeutics read

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<v Speaker 4>as well. But I'm told that you are seeing a

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<v Speaker 4>pretty decent move.

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<v Speaker 3>There's one hundred four percent higher on my screen for

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<v Speaker 3>Sidera on that news of Merk making it official with

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<v Speaker 3>the buy out.

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<v Speaker 2>There this stock Movers report from Bloomberg Radio. Check back

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