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The Stock Mover's Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Kritty Goupda on a morning where it looks like the tech led sell off is going to continue, and Applied Materials in focus as part of that story.
Critty, good morning, Good morning, Nathan.
It's the mover that's kind of having a ripple effect that's bigger than I think a lot of people would expect it. Amat is your tigger this morning for applied materials, of course, the chip equipment maker that feeds into the supply chains for a lot of these chip stocks that have been, you know, just rallying quite a bit. So it's a really great take on how the industry is
doing and whether it actually has some momentum. Well, they came out with their earnings after the bell yesterday and they said their last quarter was not so hot, and they're saying this quarter will not be so hot. So a lot of those expectations around the chip sector really thrown kind of under under some cold water because of their comments. They're blaming the trade restrictions with China for a good chunk of that, basically saying that's weighing on
chip demand and therefore on chip equipment as well. They're also talking about kind of the market being a little oversupplied as well. Nevertheless, their sales are dropping. They're seeing there's a rebound next year come twenty twenty six, but the market is looking at this and does not believe it those years. Down about six percent this morning, trading at about two hundred dollars two hundred and ten dollars
excuse me and change. But the ripple effect I think is really interesting here because you are seeing it show up in all the tech companies plus all the semi companies as well. So I'm seeing LAMB Research, AMD and Nvidia, Intel, even Pallenteer, maybe a little bit.
Of Tesla in there.
You name it, if it's a tech or a chip stock or somewhere in that universe.
It's down by circa two to three percent this morning.
I think that's a pretty significant tone setter from applied materials. It's also your biggest mover to the downside that being said, I think we talk about the fun stuff, which is M and A Friday if we can.
I guess like it doesn't it very exciting.
I feel like now every stock hit is really just a what deals are happening kind of hit.
The biggest mover to the upside.
We'll give a little bit of a boost here comes from Warner Brothers Discovery in the S and P five hundred WBD is your ticker. Shares trading just under twenty three dollars a share hired by almost three percent this morning. This is all in the M and A space. There is now reports from the Wall Street Journal as of after the bell last night that Paramount, Comcast and Netflix.
Are bidding for Warner Brothers.
There's also some news out there that the CEO has their contract amended David Saslov to protect the pay that he has in the case of a sale. The deadline is about November twentieth, or about six days away. So seeing some like real believability that Warner Brothers Discovery will have a new owner come the new year.
At least that's the expectation this point. I mean that's for speculation.
Cocktail WBD hire by three percent, trading at about twenty three dollars a share. There's also some other deals in the space coming out. Merk is officially buying Sidera Therapeutics, so you're seeing mark shares slightly lower in the pre market, down eight tons of one percent. MRK is your checker trading just shy of ninety three dollars a sharre and I'm just going to quickly get your Sidra Therapeutics read as well. But I'm told that you are seeing a pretty decent move.
There's one hundred four percent higher on my screen for Sidera on that news of Merk making it official with the buy out.
There this 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 on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.