- Intel (INTC) shares fell Wednesday after a report said that Nvidia Corp. halted a test to use Intel’s production process to make advanced chips. Nvidia recently tested the so-called 18A process but stopped moving forward, Reuters reported, citing two unidentified people familiar with the matter. Spokespeople for Nvidia and Intel didn’t immediately respond to requests for comment. An Intel spokesperson told Reuters that the company’s 18A manufacturing technologies are “progressing well.”
- Dynavax (DVAX) soared after Sanofi agreed to buy the small biopharmaceutical firm 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.
- Snowflake (SNOW) dipped after The Information reported that the software company is in talks to buy the closely held Observe Inc. for around $1 billion. Baird writes that such a deal “could make strategic sense” as a way to compete with Databricks, which “has been very acquisitive to expand its platform.”
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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. Let's take a look at.
Speaker 2 (00:17):
Some of the stocks on the move today. We can
do that with bloom Work Equities reported Natalia Canandiavi Natali.
What are you looking at? Let's start with Intel. The
ticker is i NTC. The shares are down by almost
two percent. So it came after Reuters reported that n
Video holded test that uses Intel's eighteen eight technology to
produce its chips. We know that recently, and Video reported
(00:40):
that it tested actually if it could manufacture its own
chips using this eighteen A production technology. Reuters cited people
familiar with the matter. As of now, both companies did
not comment on that. And it's been really critical for
Intel's turnaround stories. Investors really want to see if this
(01:01):
story can play out and then we know. In September,
Nvidia agreed to invest about five billion dollars in Intel
and said that it will code develop chips for PCs
and data centers using its technology.
Speaker 1 (01:16):
All right, well, it's really all about the versification of
chip supply now, right, and Nvidia definitely be challenged in
that space.
Speaker 2 (01:22):
Right, Let's take a look at another stock. You're looking at.
Dinavacs tells about that exactly. So the ticker's dvax shares
are up by thirty eight percent. It came after Sanofi,
which is a French pharmaceutical company, said that it will
start a cash tender to offer to acquire all outstanding
shares a vaccine maker for fifteen point fifty dollars per share.
(01:44):
Sanofie agreed to buy Dynavags for about two point two
billion dollars. This deal gives Sanofi access to some vaccines,
including hepatitis B vaccines. And we know that this is
also quite a crucial deal for Sanofi because it's struggling
also to increase performance and to boost its revenue as
(02:05):
we see lots of challenges in global vaccine market. All right,
one more, what do you have for us here? It
is Snowflake. The tickery snow shares are down by two
point three percent today. It came after the Information reported
that the software company is in conversations to buy a
startup called Observe for about one billion dollars. So Observe,
(02:28):
this is a startup based in California, and it develops
the so called observatory tools that help developers to track
how the apps perform or if there are any challenges
on the software side. And analysts are really excited actually
about this potential deal because they say it will allow
(02:49):
the company to compete more closely with companies like Data Bricks,
So for now it is a pretty solid move. However,
of course, shares are down fade.
Speaker 1 (02:59):
The stockmover's 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 on YouTube, Bloomberg
dot com, and on Applecarplay and Android Auto with the
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