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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 Valerie Titel and Valerie I have a feeling that Nvidia is going to be a stock you're going to be watching throughout this day.
Good morning, Hey, good Bernie.
Nathan.
Yes, it's in the news. Not for good reasons. Nvidia is down nearly two percent, down one point eight percent so far in pre market trade. Is all on the back of an FT report that China's Internet watchdog has instructed companies including Ali, Baba and byte Edance to terminate orders for one of Navidia's AI chips. This one is the RTX pro six thousand D, which sounds pretty cool, Nathan if you asked me, but Chinese Chinese firms are now banning companies from buying it and asked to also
these come needs to terminate the testing of the chip. Now, this specific chip series isn't regarded as among Navidia's marquee products. Those have been banned by Washington from dispersion into China, but it's more of a high end chip that's been specifically designed for the restricted Chinese market. And the move comes after Beijing has escalated a campaign against Navidia's H twenty AI chip earlier this year, and also comes two days after China has ruled that Navidia has violated anti
monopoly laws. So it does feel like China is amping up the pressure on the world's most valuable company.
And I see you're watching the US listed shares of another Chinese AI company. What's going on with by Dou?
Yeah, this is where the excitement is. It's all about China's own homegrown chip industry really catching some wind in its sales. So by Do is up eight percent so far in pre market trade. It was up seven percent yesterday, and it's around up around forty percent since the start of September. There's been recent upgrades from the street about their new in house chip venture now. Badu is traditionally the largest search engine operator in China, but their online
advertising business has been struggling. An analysts say that this to press stock price versus other peers could add some juicy upside potential in its chip and ROBOTAXI ambitions. This is more about investors becoming more positive about China's ai own AI ambitions.
Now we are seeing a huge move this morning and something of a smaller stock in terms of market cap. New Forest Energy is just going gamebusters this morning.
Yeah, it's up forty three percent. It already was up yesterday forty five percent for New Forest Energy. This is all on the back of finalizing a seven year deal to supply LNG to Puerto Rico and a deal worth four billion dollars. Now, this company had been very financially constrained recently. It was facing a debt crunch, but that is no longer the case now that they signed this deal with Puerto Rico. Hence why such a huge move in the stock price in the last two days.
And Eli Lilly is on the move as well this morning, kind of a out of consensus call from an analyst.
Yeah, this one I found really interesting. So Eli Lilly is down half of one percent. Novo Nordisk ADRs are up one percent, and this is on the back of Eli Lilly no longer being the top pick from analysts at Berenberg for weight loss market now it's out of consensus, but Novo Nordisk is now their favored play. Analyst Carrie Holford says in her note that Novo's pipeline isn't being
fully appreciated. It has fresh ammunition to fight back against Lily's zep bound drug falling recent data points in a US FDA accelerated approval for its own oral we go V drug that could be launched in early twenty twenty six. It will further differentiate Novo's a BC offering from Lily, but I thought it was important given the backdrop that Novo shares have dropped over thirty so far this year.
Eli Lilly has been flat, but it has been known that Eli Lilly is more positive in the weight loss drug industry.
This 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.