Intel Rises, Tango Therapeutics Soars, Strategy Gains As it Resumes Buying Bitcoin - podcast episode cover

Intel Rises, Tango Therapeutics Soars, Strategy Gains As it Resumes Buying Bitcoin

Jun 08, 20263 min
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Episode description

On this episode of Stock Movers:
-Intel (INTC) shares rise. Alphabet Inc.'s Google placed an order with Intel Corp. to manufacture more than 3 million of its specialized AI chips in 2028, the Information reported, citing two unnamed sources.
-Tango Therapeutics (TNGX) shares soar. This comes after initial results of a study showed a combination of its drug and a Revolution Medicines Inc. medicine shrunk tumors in advanced pancreatic cancer patients.
-Strategy (MSTR) shares gain. Strategy Inc. bought 1,550 Bitcoin for an aggregate price of about $101.3 million, according to a filing Monday. The purchase follows a turbulent week for Bitcoin and a rare token sale by Strategy that raised concerns about the company's digital-asset treasury model.

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Transcript

Speaker 1

Bloomberg Audio Studios, podcasts, radio News, The 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 of the stocks on the move today. We can do that with Judy la Group from a Bloomberg News.

Speaker 2

Judy, you look at today, Good morning, I am looking at war stocks. I'm going to break. There was a little bit here this morning it was reported that Intel is in an agreement with Google. Google has offered to buy three million specialized AI chips from Intel for twenty twenty eight. And so Intel stock is absolutely responding to this news. It's up twelve percent on the day, its largest increase in about a month. And Intel has really

been on a tear year to date. It has gone up about it's doubled quite frankly, So a really again interesting space to watch. What has not been said about AI of course, so that news is continuing to affect markets, which I think is incredibly interesting to see.

Speaker 1

All right, good stuff, Thank you for that. What's next on your list, Judy.

Speaker 2

Sure Scarlett Tango Therapeutics so Tago Therapeutics recently announced the successful clinical trial for pancreatic cancer. The stock is up on the day forty eight percent, and you're to date. As of Friday's closed, the stock itself had more than doubled. But today the stock is up close to an all time high price. It's on track rather for an all time high price. And the zoo Ho analysts were really

quite excited about this crolinicultural. They called it quote a clear signal of synergy, and it's the drug itself actually is positioned for compelling sort of getting rid of chemo for some patients, and so that is definitely a game changer. And again is face to watch there.

Speaker 1

Stocks up two hundred percent year to date, up five hundred percent on a trilly twelve month basis. It's a binary.

Speaker 2

You go to those biotech sas absolutely binary. One more sure strategy. So this is i'll call it, you know, this is now four stocks I've got, so i'll call it four and a half here. So we're looking at strategy, but we're also looking at it in tandem with bitcoin. So strategy itself is up five percent on the day, and Bitcoin is up four percent, which is its largest

gain since April. And all of this movement is really coming as a result of Strategy last week selling bitcoin for the first time since twenty twenty two, and that really moved sort of bitcoin buyers and sellers, really sort of shaking up the market. And so now Strategy this morning has announced that it had purchased one hundred and one million dollars in bitcoin according to a filing. So as a result of that Bitcoin and Strategy, you're seeing both up. So again a lot of moving and shaking

in crypto today. Definitely space to watch.

Speaker 1

As Wellmover'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.

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