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The Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
And Jim Cenebec along with Carol Masser, We're joined by Alexandra Semenova. She is Bloberg News Equities reporter and she is at Bloomberg headquarters in New York. Alex what are you watching, hey, guys?
So this was the deal of the day today. All attention from investors was on this mega deal. Next Era Energy agreed to buy Dominion Energy for about sixty seven million billion dollars rather in stock. This is the biggest power acquisition ever. This merger creates a giant utility company that extends from Florida to all the data centers in Virginia and really highlights the demand for electricity when it
comes to the buildout of artificial intelligence. And just looking at the share moves today, next Era down about four point six percent on but Dominion Energy closing up nine point four percent. Next Era would pay the equivalent of about seventy six dollars per share for Dominion. The company said this in a statement today, confirming Bloomberg reporting that represents a takeover premium of about twenty three percent based on Friday's closing price.
Guys, not too savvy and always good to be the target rather than the acquirer. You see the play out, Hey, talk to us about Seagate Technology.
We know you've been watching this one today.
Yeah, this one was really highlighting how fragile the AI trade is getting after six consecutive weeks of gains. Any disappointing results for the chip makers could really see this unwind continue like it has been over the last couple of trading days. Seagate Technology sliding today ten percent, having its worst day since last April at the onset of tariffs. This is after management commentary at a JP Morgan conference saying that they basically don't expect that they'll be able
to meet the demand for memory chips. Ce CEO said that building new factories would quote take too long. That comment really spooking investors, and the declines, of course come amid a torrid rally in semiconductors broadly. We also saw other companies falling today in sympathy, SanDisk, Credo Technology, and of course the Philadelphia Stock Exchange. Semiconductor index also down on the day.
All right, So from chips and memory to pharmaceutic goals regeneron, what's going on with degeneron today.
Yeah, a really disappointing result for this company on a Phase three trial for its melanoma drug. This led to at least ten analysts across Wall Street slashing their rating on the stock and seeing shares decline in a big way. Looking at the company, it is down nine point eight percent, which is the worst day since May thirtieth of last year.
The biotech was aiming to show some improvement in patients with metastatic melanoma, but they didn't have a statistically significant enough number when it came to how long patients lived before their cancer progressed. BEMO analyst said that this was a huge inflection point for the first half of twenty twenty six. They were expecting positive results, and they said that sentiment was inextricably tied to how this trial would go, hence disappointing investors.
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