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The Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carol Master along with Tim Stanevik. Let's get to some stocks on the move this Tuesday. For that, we're joined by Bloomberg News equities reporter Avalon Parnell. She joins us here in studio. Let's start with a name that actually was moving in the aftermarket.
Yes, KB Home, that's ticker KBH slighting now about four percent. That's after the homebuilder's second quarter forecast trailed estimates basically across the board. It also reported revenue and home deliveries
for the first quarter that slightly missed expectations. Management did also mention something that I found interesting, at least in the release, that they have concerns surrounding the conflict in the Middle East because it's introduced another layer of uncertainty for consumers who are already facing several challenges in the macro environment. Though of course they say that they're definitely able to weather that storm.
Yes, we'll see right, but this is certainly something on a couple of different levels that certainly could impact people in terms of purchasing homes.
Was this the one you forgot to do in your decliners?
Didn't this earning?
Oh?
Yeah, I just came out.
Yeah see, okay, just making sure you know you were going to do one on the home. No, oh, okay, I don't know what I'm talking about. Let's just edit that out, please, everybody. Let's actually keep that in. That was kind of entertaining.
All right, let's keep going. What about ARM? Yes, ARM ticker ARM very easy to remember, gaining about six point six percent postmarket. That's after the semiconductor devices firm said that it plans to begin selling its own chips for the first time in a bid for some additional AI sales. Meadow will be the first major customer, and the chips
will be produced by Taiwan Semiconductor Manufacturing. Also worth noting that ARM expects those annual cells from the new chip business to be about fifteen billion dollars within five hours. The chips are expect to be available now. However, they're going to begin shipping at the end of this year.
Yeah, I mean, we had a great interview from our Tom mackenzie talking with the company's CEO. So it's it's interesting. I mean, this is certainly something we're watching. And yeah, I mean the whole semiconductor right space. I mean it's up what about twenty three percent year to date, so we've definitely seen moved to the upside. Yeah. Check out, well, no, check out Rene Haas's interview on the Bloomberg terminal. As Carol mentioned, Tom McKenzie sitting down with him on this Tuesday.
All right, now for something different.
Yes, very different. Immunity bioticker iv RX think about twenty one percent into the clothes today for its biggest tumble since twenty twenty four out for as slightly interesting reason. That's after the FDA issued a warning letter to the biotech for false and misleading promotion of its bladder cancer drug and Kativa. At issue is a recent TV ad for the drug and the firms billionaire executive chairman Patrick
Sun schung rhetoric on the Sean Spicer Show. He said the drug could treat all cancers, but as I said earlier, it's actually only approved for a very specific kind of bladder cancer. Now, the company spokesperson did tell Bloomberg that they are taking the FDA's concerns very seriously and they intend to respond within the timeframe. But still worth noting that that stock remains up nearly two hundred and seventy five percent this year.
The stock Moover'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.