On this episode of Stock Movers:Oracle (ORCL) Oracle credit-default swaps -- cost of protecting Oracle's debt against default rose to the highest in more than three years Oracle's AI spending spree is raising questions over how exactly the company is going to fund its deals, especially since it has a weaker credit rating than Microsoft or Alphabet -- it's quickly emerging as the credit market’s barometer for AI risk Stock slumped 11% last week, six-week stretch of declines -- losses also caused a $130 billion hit to Larry Ellison's net worth after the rally in September briefly made him the world's riches person Alphabet (GOOGL) Leads the rally on Monday given continued optimism over the latest version of its Gemini AI model Last week: The Information reported that OpenAI CEO Sam Altman recently told colleagues that Alphabet’s progress in AI could “create some temporary economic headwinds for our company” Bloomberg Intelligence: excess returns year-to-date are the weakest among investment grade tech peers excluding Oracle; consequence of its considerable defensive credit characteristics and tight spreads vs. fundamentals Centene (CNC) Climbing with other health insurers after Politico reported the White House is expected to propose a two-year extension of Obamacare subsidies with new limits on eligibility MS NOW also reported that President Donald Trump is expected to announce a general framework to address health care costs and spikes in ACA insurance premiums Centene offers health insurance plans under the Affordable Care Act (ACA) marketplace See omnystudio.com/listener for privacy information.
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Novo Dordisk Drops; Alibaba Soars; Biogen Rises
On this episode of Stock Movers:- A pill version of Novo Nordisk (NOVOB) Ozempic failed to slow the progression of Alzheimer’s disease in a pair of high-risk studies that aimed to open up a new use for blockbuster obesity drugs. Patients who took the medicine didn’t see their disease progress more slowly based on a cognitive assessment, the Danish drugmaker said Monday. Novo will discontinue a planned one-year extension of the studies. The stock plunged as much as 12.4% in Copenhagen, hitting the lowest level since July 2021.- Alibaba Group's (BABA) Qwen app drew more than 10 million downloads in the week after its relaunch, boding well for a longer-term effort to build a rival to OpenAI’s ChatGPT. - Biogen (BIIB) shares rise 4.7% in premarket trading on Monday after Novo Nordisk said a pill version of Ozempic failed to slow the progression of Alzheimer’s disease in two late-stage studies. Wall Street analysts see a positive read-through to Biogen.See omnystudio.com/listener for privacy information.
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Alphabet Shares Soar; Eli Lilly Slumps; RTX Defense Deal
On this episode of Stock Movers:- Alphabet (GOOG) shares soared the most in two months on Wednesday as a wave of glowing reviews for the newly released version of its Gemini artificial intelligence model spurred investor confidence about the company’s position in the ever-changing tech landscape.- Eli Lilly (LLY) shares slump after Novo Nordisk said its Evoke late-stage trials did not demonstrate a statistically significant reduction in Alzheimer’s disease progression. - RTX and Israeli defense firm Rafael have won a $1.25 billion contract to build surface-to-air missiles for Israel’s Iron Dome air-defense system at a new plant in Arkansas, the joint venture announced. The deal marks the first production contract for the partnership at the new facility, based in Camden, in south central Arkansas. The two companies invested $33 million to build the facility, which opened earlier this month.See omnystudio.com/listener for privacy information.
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Anglo Down, Ubisoft Jumps, M&C Saatchi Cut Outlook
On this episode of Stock Movers:- BHP Group has walked away from a fresh takeover approach for Anglo American Plc, ending an unexpected and short-lived attempt by the world’s largest miner to thwart a planned tie-up between its smaller rival and Canada’s Teck Resources Ltd.-Ubisoft Entertainment SA’s shares jumped by the most in nearly a year after the company closed a deal with Tencent Holdings Ltd. for an investment in Vantage Studios, a unit carved out for its Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six franchises.- M&C Saatchi reduced its outlook after the longest US government shutdown in history hurt its public sector division.See omnystudio.com/listener for privacy information.
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Bayer Result, Hensoldt Falls, Anglo American's Failed Deal
On this episode of Stock Movers:- Bayer said an experimental stroke-prevention drug showed positive results in a late-stage study, a boost for the German company as it seeks to counter sales declines from aging blockbuster medicines. - Hensoldt and other European defense shares are on watch over the latest news around Ukraine- BHP Group has walked away from a fresh takeover approach for Anglo American Plc, ending an unexpected and short-lived attempt by the world’s largest miner to thwart a planned tie-up between its smaller rival and Canada’s Teck Resources Ltd.See omnystudio.com/listener for privacy information.
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