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Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg Data.
Stake a look at some of the stocks on the move today. We can do that with avanon her now Bloomberg News. She joins us here in study Avalon, What are you looking at?
Yeah, we can go ahead and start off with concentrics stutsticker cnxseed down about twenty three percent to hit a record low. That's after a firm second quarter forecast was weaker than expected. It's adjusted earnings for share guidance missed expectations, and also the midpoint of its revenue range also fell short of what investors are expecting, which is kind of poorly time, considering investors already have a ton of questions about what structural threats AI will pose to its business.
All right, Next up on your list, yes, Jeffreys ticker JEF, which is up about three point seven percent. That's after The Financial Times reported a little bit earlier today that the Japan based bank SMFG is working on plans for possible Jeffries buy out. It's kind of interesting timing considering Jeffries has been under a lot of pressure this year, considering all of the credit risk that the company has been caught up in. I'm thinking about like first brands
market financial solutions. But before this news it was down about thirty six percent this year. And Bloomberg Co Intelligence is actually out with a note saying that the potential takeover by SMFG appears more opportunistic as opposed to imminent, as we continue to report that there are no active talks.
And that bank already owns I looked it up on the bloomber turmil about four and a half percent of Jeffrey's already, So this might be an opportunity to take advantage of some weakness and up that stake here. Jeffries is, having competed against them for many years, are very very good of what they do. They have their niches and they hire and through resources that those niches, and they compete well.
One more, yes, Immunity Bio that's ticker IBRX, thinking about twenty two percent for its biggest tumble since twenty twenty four. That's after the FDA issued a warning letter to the biotech for false and potentially misleading promotion of its bladder cancer drug and Ktiva issue was a recent TV add and also the firm's billionaire executive chairman Patrick Sounschung's rhetoric on the Sean Spicer Show. You said the drug could treat all cancers. However, it's currently only approved for a
very specific kind of bladder cancer. Still worth noting that before today the stock was up three hundred and seventy five percent this year, so I don't think people are gonna be that worried.
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