On this episode of Stock Movers:
- Shares of Intel (INTC) fell in the early session after Reuters reported that Nvidia halted a test that uses the chip manufacturer’s 18A technology to produce its chips. Nvidia recently tested whether it could manufacture its chips using Intel’s 18A production process but stopped moving forward, Reuters reported, citing two people familiar with the matter. Nvidia did not respond to Reuters’ request for comment, while an Intel spokesperson told Reuters the company’s 18A manufacturing technologies are “progressing well.”
- Shares of Dynavax Technologies (DVAX) soared in premarket trading after Sanofi agreed to buy Dynavax for about $2.2 billion, as it seeks to expand a vaccines business currently anchored by its flu shot franchise. The French drugmaker will pay $15.50 a share in cash for Dynavax, 39% above the Emeryville, California-based firm’s closing price Tuesday. The statement on Wednesday came minutes after Sanofi said the US Food and Drug Administration had surprisingly rejected its experimental multiple sclerosis drug tolebrutinib.
- Shares of Nike (NKE) moved higher ahead of the US market open after a filing shows that Apple CEO Tim Cook purchased $2.95 million worth of shares on December 22nd. Cook is Nike’s lead independent director and served as a director since 2005, according to the company’s website.
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Episode Transcript
Bloomberg Audio Studios, podcasts, radio news, The stock Movers Report,
your roundup of companies making moves in the stock market,
harnessing the power of Bloomberg Data.
Speaker 2 (00:16):
All right, is that time of day for stock movers
and I challenge Lisa to have some stock movers for
me today. What do you got for us?
Speaker 3 (00:24):
All right? I gotta start with Intel. I've been hitting
it all all morning long. I INTC. Their shares have
been down as much as three percent. The reason why, Well,
Reuters is reporting that in Vidias stopped the test to
use Intel's production process to make their advanced chips. And
Vidia tested the so called eighteen A process, but it
just didn't move forward with it. So Intel they recently
(00:44):
opened this new factory in Arizona. It's known as Fab
fifty two, and it's the first to go into mass
production with this kind of technique. So Intel says it's
the most advanced chip production technology development deployed in the US.
Not sure why Nvidia backed out of it. In Vidia
did not comment. But I mean Intel's trying to strengthen
American leadership in the industry. I mean the global leader
(01:06):
is Taiwan Semiconduct Manufacturing so they're they've been trying to
keep up and.
Speaker 2 (01:11):
It's all part of kind of reassuring some parts of
this technology splash right, okay, right, exactly.
Speaker 3 (01:17):
We don't we don't really ever talk about Dinovacs. I know,
you said, who that's what I said?
Speaker 1 (01:21):
This? Look that up?
Speaker 3 (01:23):
Yes, okay, So Dinovacs technologies up as much as thirty
nine percent. They had a thirteen percent drop so far
this year, so this is pretty some good news, good
news from its dvax French drug maker Sanafieh Sanafee. Yeah,
they agreed to buy the company for about two point
two billion dollars, so Santafe. They're they're looking to expand.
(01:44):
They have the vaccine business. You've probably seen the commercials
for their flu shot franchise, Dinovacs. This deal gives them
a hepatitis B vaccine that's already kind of marketed in
the US. It also gives them an experimental shingle shot.
So they're they're trying to kind of up their their
at CEO has been investing in research development, M and
A deals. He's looking for alternative revenue streams to kind
(02:06):
of replace their top selling medicine, which is dupixe it
and that is facing a patent cliff and that's the
reason for that. But it came after, you know, just
minutes Santafi said, the US Food and Drug Administration rejected
its experimental multiple sclerosis drugs. So this kind of was
the news on the back of that. But Dinavacks their
shares are soaring thirty nine percent.
Speaker 2 (02:28):
It's hit or missing that business. But that's a California company, Dinaback. So, yeah,
rescued by an acquisition.
Speaker 3 (02:36):
How about okay, we got to go to Nike. Yeah,
nk up as much as two percent. The reason for
this is a filing that shows that Apple CEO Tim
Cookie purchased two point nine to five million dollars worth
of shares on Monday. Now, if you remember Friday, Nike
shares dropped eleven percent, right, they warned of the sales declined,
the current quarter, weakness in China, weakness, and his Converse brand.
(02:58):
And then what does Cook have to do with Nike?
You're kind of trying to figure out. Cook is actually
Nike's lead independent director. He's served as director since two
thousand and five. But the filing shows he purchased fifty
thousand class b common stock weighted average price of fifty
eight dollars ninety seven cents, So he now owns just
over one hundred and five thousand shares in Nike. So
(03:20):
he's he's making some moves in Nike.
Speaker 2 (03:22):
Right, I mean that's let's be honest, that's pocket change
for Tim Cook.
Speaker 3 (03:25):
True.
Speaker 2 (03:26):
Yeah, I mean it's like real Me lending you twenty bucks.
But are anything also a few other.
Speaker 3 (03:32):
Yeah, a few other qus mentions. I want to go
to Ast Space Mobile it's ticker ASTs. Their share has
been up as much as seven percent. It launched as
large as ever satellite from India. Now this is the
first in his series. Are going to have a number
of deployments, but it's really trying to keep compete against
Elon Musk SpaceX.
Speaker 2 (03:50):
Right.
Speaker 3 (03:50):
It delivers the space based connectivity to mobile phones. So
that's why this is big news for them because it
kind of ups, you know, the competition in that space.
And then finally we have applications software maker UiPath it's
ticker Patch. Their shares are jumping about eight percent and
the reason for that is it's set to replace so
(04:11):
Novis Financial in SMP MidCap four hundred.
Speaker 1 (04:13):
Index, the stock movers report from Bloomberg Radio. Check back
with us throughout the day for the latest roundup of
companies making news on Wall Street, and for the latest
market moving headlines. Listen to Bloomberg Radio Live, catch us
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Auto with the Bloomberg Business app.
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