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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. Starting write off with the stock that is getting the biggest shot in the arm this morning, Dinavax. Good morning, Dan.
Good morning.
Yeah.
So Dinovax. It's surging almost forty percent in pre market ticker dvax says. The US vaccine company is set to be bought by French drug makers Sinofi for fifteen dollars and fifty cents a share in a deal worth over two billion dollars. Dinovax has a portfolio including a hepatitis B vaccine that's already available and a singles vaccine that's going through testing, and that's what Sinofi is looking for,
something to help expand out its portfolio. The deal comes as the global vaccine mark market softening in the US. RFK Junior, who's the head of the Health Services, has been skeptical on vaccines, but most of the changes to US policy have focused on childhood shots. That's where Dinovacs is a little bit safer. It tends to be more geared towards adult patients, so more likely sheltered from policy changes.
Okay, let's turn now to the biggest laggard this morning among the mega caps. What's going on with Intel.
That's right, Intel, the chip maker. It's under pressure this morning, the stocks down about four percent, with ticker IONTC down in pre market. That's after a Reuter's report that Nvidia has halted a test on making chips with Intel's eighteen A process. What that process is is a manufacturing way that allows to allows chip makers to make sub two nanometer chips. We're at really really really small levels right now because as part of the AI race, it's all
about getting more onto smaller bits. So this process could put about fifty thousand on the width of a hair. That said, in Vidia's finding out, according to Reuters, that it's not quite working for them. The race has been heating up, it's been you know, everyone's trying to put more and more processing space in smaller units. And in Nvidia invested five billion dollars earlier this year in Intel as part of that deal, and the two have worked
to co develop chips for PCs and data centers. Goodyear for Intel in terms of big backers because the US government has also stepped in this year with a roughly ten percent stake in Intel as well. Well.
It's a good morning for investors in Nike, catching a bid with a pretty big name leading the rally this morning.
Yeah. I was hoping for a new pair of Nikes for Christmas. Tim Cook has taken that to a whole new level by stuffing his stocking with fifty thousand shares of Nike. So if you're looking for a present for the man who has it all, I guess fifty thousand shares of Nike will do it. The CEO of the CEO of Apple is also the lead director of Nike, finally went out that he bought fifty thousand shares worth about three million dollars just recently, and it could be
a bit of a dip buy. The shares have been on the decline since July, and they fell over ten percent after the earnings came out, So right now Tim Cook holds about six million dollars worth of Nike. That does compare to the nine hundred million in Apple he holds. For nine hundred million that he holds an Apple stock, so could be a good Christmas for him with all that money sitting around. Nike shares up about two percent in pre market right now.
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.