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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 some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis, with some stocks making some major moves on some deal news this morning, starting off with Arcosa. Good morning, Dan, Good morning Nathan.
That's right, m and a Monday. Arcosa ticker ACA is up eleven percent in the pre market as building materials group CRCH is close to its biggest deal ever to acquire Arcosa. According to the Financial Time, who is citing people familiar, CRCH is said to be in advanced discussions for the acquisition and an agreement could come as soon as next week. OURCOSA business includes aggregates concretes as well
as power utilities like telecoms, towers. It competes with CRCH, so CRCH is looking for this acquisition to expand out it's it's it's performance in this market. CRCH has a market value of seventy four billions versus Arcosa about around eight billion dollars, so it is looking to expand. It's something that's done a lot. CRCH has expanded a lot via acquisitions at Boston men assets from Wholeseam and LeFarge when those companies need to sell ahead of that merger.
So that's really helping out those Arcosa shares.
An even a bigger move this morning for Apage Therapeutics. That stock is soaring dan it is.
It is up over fifty percent and I just got news it's halted now in the pre market at that level, basically abby is closing in on a nearly eleven billion dollar deal to buy apage again according to the Financial Times. However, that Holt implies there's news that is going to come out shortly. This has you know the ABVY which uh, this has Abvy looking for the inflammatory disease drugs that
apagee has been developing. And ABV shares are actually up about nearly one percent of the pre market, somewhat unusual typically when companies go out and buy another company. But that's being seen as a creative to Abvy itself.
Okay, and we have some deal news of a sort between Microsoft and Chevron. This is an M and A. But this has to do with the AI play, right.
Yeah, So Chevron is in a partnership with Microsoft for a twenty year deal to provide GNAT gas power for a proposed Texas data center that has shares of Chevron up nearly one percent in the pre market. That's also of note because crude is down, so typically if you see oil down, you see the oil majors down, but
Chevron is up despite crude softness. The power plant is expected to start providing power in twenty twenty eight and will ramp up to nearly two point seven gigawatts, and Bloomberg News has previously reported the companies were in exclusive talks. Microsoft is looking to doubles its datas center footprint over the next two years, and this partnership with Chevron is expected to supply the power needed for those energy intensive place centers.
Okay, there's just time to tell us about this monster move we're seeing on another potential AI play for Getty Images of all companies Dan.
Yeah, ticker g E t Y. Those shares are up two hundred percent in the pre markets, trading at about a dollar and eighty two cents right now in the pre market. And so Getty Images has a partnership with open AI, where Getty images licensed content libraries will appear across search and discovery experiences for chat GPT. Getty closed at a record low on Wednesday of last week, and this massive push is setting it up to erase all
the losses it's posted since November. Getty initially resisted outside AI competition. It tried to develop its own AI image generator. It sued Stability AI, accusing the AI image generator of copying more than twelve million photographs without permission to train its models. So it's really been trying to fund off these AI names, But now it's embracing that.
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.