Bloomberg Audio Studios, Podcasts, radio News.
The Stock Mover's Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Jim Steadewek along with Carol Masser. Let's take a look at some stocks on the move today. We're joined by Bloomberg News Equities reporter Avalon Parnell Avalon. What are you watching?
You can go ahead and start off with City Group. That's ticker. See it rose two point six percent into the close to end at its highest level since two thousand and eight, which we all know why. That's a big deal considering they've been in the midst of a pretty long turnaround, and that's after the banklogged it's best returns in five years despite a pretty volatile first quarter.
I think we can all say in the markets, Ana Lyts say that the print was welcome news for many investors, and Piper Sandler writing that the results were better than expected nearly across the board.
That is wild.
Yeah, I feel like, considering what's not happening the base outside of it was very easy to kind of get focused on the downside, but clearly a little bit of upside in city.
I mean there was a point with that stock drop down to nothing dollar a share?
Where when was that? Two thousand and.
Eight and where I'm looking at my chart two thousand and nine eight?
Is that right it?
I think maybe it was intra day, but it was like nothing, I keep saying a dollar share, So God, wouldn't that be terrible? Like okay, I'm just looking at the chart. But it's really remarkable how much that we've seen it go. I mean, it really did nothing for such a long yeah, long long time. Okay, Okay, that's what happened avalon and we give her all the.
Time because she comes in at four fifty.
Well, you say things that actually make us like think and want to look more. It's really good anyway, go ahead, all.
Right, So let's go to some tech players.
Yes, so we have Adobe that's took her ADB and Figma, which is to or fig very easy to remember. Big Mus slid about four percent and Adobe dipped to one point eight percent into the close. That's after the Information reported that Anthropic is preparing its next flagship model, Claude Opus.
I kind of like that name. It's also preparing some AI tools for designing websites and presentations, and practically everyone continues to be scared about what exactly does that mean for stocks like Adobe and Pigma, which are pretty big software players in this space. Bloomberg Intelligence writing that they expect the headline risk related to AI disruption to be amplified with the release of Anthropics new model, and that it will especially impact Figma and Adobe.
Bigma's down more than fifty percent this year. Yes, do you remember this was a stock that after its IPO. Yeah, one hundred and twenty two dollars a share. This is back in August of twenty twenty five. It's now down eighty five percent since then.
Wow.
Yeah, that's a big that's a big drop.
That's huge. So this is Nowgma now has a marketing tap about nine point six billion dollars. Okay, you got me thinking about Figma.
See this is what you do.
I know it is.
It's really cool.
Actually, you make us think you do.
You make us like like we're looking at something that we maybe weren't looking at before.
It's very cool and remind us of the trouble we have sticking to a single task. That's also true. We really Okay, one of the reasons we love talking to you is because your connection to healthcare.
Absolutely, so we can end with Travie Therapeutics. That's ticker TVTX. Maybe you haven't heard of this name, but it surged thirty seven percent to hit its highest level since two thousand and five, and that's after the biotech's treatment for a rare kidney disease one FDA approval in the US. TD Cohen writing that the approval is a hamewark event, especially considering this is the first and only therapy for
this rare kidney disease. Current estimates are about forty thousand people in the US are impacted by it, So definitely good news for the patients and also for a stock.
Yeah, absolutely like a solution. Hey, I just want you to know I did go back and just checked on city. It wasn't like, you know, crazy, here we go. They briefly trade a below a dollar, hitting ninety seven cents intra day on March in March fifth, two thousand and nine. I remember because I remember thinking, you know, why did you just throw like one thousand dollars or something that you know we were so in it and you know we have it would be up six, I mean.
Or more no, no, no, for what was it? It was a dollar, it was below a.
Dollar for a moment. Wow, Like it's just like at the depth of the financial crisis. So it's just you know, you kind of think about it. But for a very long time the stock didn't go anywhere if you look at the chart. But interesting to see kind of where it is today.
The Stock Mover'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 Bloomberg Business app.