Apple Slips on CEO Shakeup, Amazon Falls, Compass Pathways Soars

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The Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.

I'm Jim Stanovec along with Carol Masser, and we're joined by Bloomberg News Equities reporter Avalon at per Now with some stocks on the move, big news in the after hours today.

Avalon absolutely, we can go ahead and start off with.

It was shocking after shining.

It's the right way to say.

Again, I think we know it was coming at some point. Mark German did some great reporting back in mid March about who might be the air apparent, But man, when it hit the what we're talking about, Oh yeah, let's break the news. Well it's been broken.

Very true. Apple ticker AAPL is now down about eight tenths of a percentage point in extended day trading. That's after, as you guys already mentioned, John Turnas is now going to become CEO effective September first. Tim Cook is going to be stepping aside and becoming Apple's executive chairman. So definitely also worth noting that Apple shares are up more than nineteen hundred percent since Tim Cook took over as CEO in twenty eleven.

Yeah, quite a run. I mean he's been there for a long time. And as it turns out, John turnas who's been in charge of hardware. He's been at the company for a long time. And our Mark Goverman, when he did the reporting back in mid March, talked about he wanted somebody who knew the company, an insider, but he also wanted to be able to be there when the time came to help with the transition. So he will be there to help with the transition.

Yeah.

Tim Cook been at the helm of Apple, as you mentioned, since twenty eleven, but he was COO before that. He's been at the company since the nineties. John turnis the hardware chief, but he's been at the company going back to two thousand and one. The challenges remain though, for whoever you know runs this company. Yeah, it's going to be John Turnis. On September first, that transition to AI that has a lot of analysts and observers asking, Okay, how is Apple going to do this?

Yeah, this is a story we know we're going to be talking about for some time, and terms is gonna take over. I think on September first of this year, so a little bit later on.

And speaking of AI, a big AI investment moving shares of Amazon after hourstally.

That's ticker am ZN. It is gaining about two point five percent also in the aftermarket period. That's after Ammon and Sawn said that it plans to invest five billion dollars in Anthropic well and up to an additional twenty billion dollars in the future. And that's also in exchange or as part of a plan. Anthropic plan to spend over one hundred billion dollars on AWS technology over the next decade. So just another example of these big deals in tech.

That is big money massive, that is massive. What happened like all of the mags seven waking up after hours today, not all in the same time. It feels like, yeah, so we.

Also had you know, Microsoft is a huge investor in open AI. Amazon has the capacity for Anthropic to use AWS for inference. So yeah, I mean this is a big money, big money yeah.

I mean the AI spend man, especially among these big tech companies, these big hyperscalers, it is out there aggressively happening avalon.

Remind us what shares of Amazon are doing after hours.

Yes, they are up two point five percent.

All right, I almost feel like go ahead, I should go ahead psychedelic drugs because this is like blowing my mind. So you went there, and this is all ahead of their earnings, right, this is going to be the next week or so all about big tech earnings, and so it'll be interesting that they're kind of getting all this stuff out. All right, So let's go to those psychedelic drugs because they were on the move.

Today absolutely, Compass Pathways as ticker CMPs jumping about forty two percent into the close to not just biggest one day leap since twenty twenty. And that's after President Trump said that he signed an executive order to expedite research and access to psychedelics used outside of the US. Countries like Australia and Jamaica and even Canada already allow some of the substances to be utilized for patients with PTSD

Yeah, this is fascinating and just a little cheap plug here, but we talked to the Compass Pathways CEO ChB. R. Math thank you very much about this, and he saw this executive order as really a big move forward. There are still some things to be worked out, but this is pretty significant. But like you said, this name and all the names in the space were really on a tear today.

Yeah, surprised to see too. You know who was in the Oval office on that all over the weekend.

Why were you surprised?

Well, first of all, was a weekend. The President typically doesn't do those executive order signings, you know, open to press on the weekend, like he's usually going somewhere. But look, you know our White House team they were on it, so they got to see it. But Joe Rogan was in there. Yes, it's interesting.

Yeah, I think he's talked about it right a lot on his podcast, Okay Hussey, Yeah.

Oh yeah, I mean biohackers are also very into the idea of like what psychedelics and other substances can be used for as alternatives to more traditional medicine.

So not not even beyond PTSD and treatment resistant depression. Yeah wow, okay Avalon Prenell, Bloomberg News Equities Reporter. For more conversations like this, check out our new Stock Movers podcast. You can find it on Apple, Spotify, or anywhere you get your podcasts.

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