Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data. Let's take a look
Speaker 1: at some stocks on the move today. I'm Tim Keen
Speaker 1: with Paul Sweeney and Bloomberg's Lisa Mateo.
Speaker 2: It's a two hour edition.
Speaker 3: It is. We'll start with the big one of the day.
Speaker 3: So this is Advanced micro Devices ticker AMD. Their shares
Speaker 3: have been up more than thirty percent. Now, if the
Speaker 3: rally holds when the markets open, the company would have
Speaker 3: its biggest int digging in more than nine years. So
Speaker 3: the big news, Yes, it's signed a deal with open
Speaker 3: Ai for AI infrastructure worth tens of billions of dollars.
Speaker 3: What will happen under this agreement, Well, open ai is
Speaker 3: going to deploy six gigawatts of AMD GPUs multiple years.
Speaker 3: And you say, what is six gigawatts? I don't know.
Speaker 3: I had to look it up. So ten gigawatts just
Speaker 3: to give you, I feel like it's back to the future.
Speaker 3: Gigawatts of powers equal to the peak electricity demand of
Speaker 3: New York City. So that's the kind of kids of
Speaker 3: the couch with Robin Hood, it's crazy. Next Okay, So
Speaker 3: next one is co America. It's sicker CMA up as
Speaker 3: much as fourteen percent the news first fifth Third Bank Corp.
Speaker 3: Agreed to buy the bank for about ten point nine
Speaker 3: billion in stock, the largest US bank deal of the year.
Speaker 3: It's going to create the ninth largest bank in the
Speaker 3: country two hundred and eighty eight billion dollars in assets.
Speaker 3: So here's the First Third is based in Cincinnati, so
Speaker 3: it's been known for this reach across the Midwest, right,
Speaker 3: but it's been trying to expand in the Southeast. So
Speaker 3: a deal with Dallas based co America is going to
Speaker 3: help them. And then co America also has its focused
Speaker 3: on commercial banking for middle market companies. But the CA
Speaker 3: America's really been under a lot of pressure from its
Speaker 3: activist investor group. It's, you know, trying to sell to
Speaker 3: a large bank, this pressure to get there. They just
Speaker 3: brought up the total return of k America eight point
Speaker 3: eight percent before the pop this morning.
Speaker 1: What took so long?
Speaker 2: Am I wrong to ask that? Paul? No, I don't
Speaker 2: think so. I mean, we've been asking this question really
Speaker 2: since the Great Crisis, and then you know, like do
Speaker 2: we need this many regional banks. I don't know.
Speaker 3: I don't know.
Speaker 2: I mean I would argue it's it works, it's worked
Speaker 2: for our economy. But a lot of bankers come in
Speaker 2: here and say, you know, there conna be some more
Speaker 2: consolidation in the banking space. So we'll see.
Speaker 3: I saw who was involve Keith Involve Gold and Sex.
Speaker 2: Other usual view organs. Yeah, but yeah, Keith.
Speaker 3: Lawyer's guns is money there it is regional. Next we
Speaker 3: got all right, I gotta hit Tesla t s LA
Speaker 3: or share them with up two percent. Okay, here's why
Speaker 3: a number of social media posts this is what's kind
Speaker 3: of moving things nowadays. Okay, so they want posted a
Speaker 3: video clip. It was a black hub cup hubcap like
Speaker 3: object Tesla logo on it. It was spinning basically before
Speaker 3: flashing the numbers ten seven, which you think about. It
Speaker 3: is tomorrow's date, so people are saying, oh, there's gonna
Speaker 3: be a big product reveal tomorrow. The second post was
Speaker 3: a show. It showed a car parked and pitch black
Speaker 3: darkness and then it shows the headlights beam go on. Okay,
Speaker 3: so the last Tesla introduced new products, it was two
Speaker 3: years ago. The cyber truck. Okay, So that did okay.
Speaker 3: But the stock, you know, it kind of took down
Speaker 3: last week, so now it's starting to pick up. I
Speaker 3: mean it tacked down because it posted record quarterer sales.
Speaker 3: But investors are saying, you know what, it's going to
Speaker 3: be hard for them to keep up that momentum now
Speaker 3: that those EV subsidies kind of expired.
Speaker 2: In the US, I don't see so many cybertructs are ound.
Speaker 3: I still see a couple more of them, Yes, I do.
Speaker 3: I do see it a little bit more. Yeah, So Tesla.
Speaker 1: There you go the Stock Movers report from Bloomberg Radio.
Speaker 1: Check back with us throughout the day for the latest
Speaker 1: roundup of companies making news on Wall Street and for
Speaker 1: the latest market moving headlines. Listen to Bloomberg Radio Live,
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