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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 Tim Steinebeck along with Carol Masser. We are joined by bloomerg Execti's reporter Alexandra Semenova. She is holding down the fort at the Bloomberg Studios at headquarters. Alex What are you.
Watching, hey, guys. So a big unwind continuing to take hold in those AI infrastructure names that have been driving this rally for the last several weeks. The first company that I'm taking a look at today is Seagate Technology. Shares there are down about ten percent, which is the worst day since last April during the tariff sell off.
This is after comments from management at a JP Morgan conference earlier today saying that they don't think that they'll be able to keep up with soaring demand for their chips. CEO David Masley said new factories would quote take too long, and that is enough to send investors running, taking some profits there after a really strong eight weeks for the company. This is, of course, submit a toward rally in the
broader semiconductor sector. Just taking a look today at the Philadelphia Semiconductor Stock Exchange Index that is also down four point two percent. This is as other memory chip makers also fell today.
Guys.
All right, so Cgate one of the big laggards in the trade today. Yeah, quite a big dip to the downside, top gainer, top decliner. Excuse me, in both the S and P and the Nasdaq one hundered. All right, let's kick it on over to the energy patch. I mean this was like bam, a deal in the space today.
Yeah, mega deal Monday for sure. Next Era Energy agree to buy Dominion Energy for about sixty seven billion dollars
in stock. This is the biggest power acquisition ever. This merger creates a giant utility that expands from Florida to some of the data centers in Virginia and also underscores the insatiable demand for AI infrastructure that is pushing utilities to seek greater size and clout amid this surge and demand for power, The deal would position next Era as the dominant utility in a region that is struggling to meet electricity consumption, and 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.
I feel like that's such a sign of the times in terms of what's going on. All right, Alex, Let's go on over to Regeneron, which is also coming under some pressure today.
Yeah, some disappointing news today for this company. Just taking a look at the stock price right now, it's down more than ten percent, the worst. Actually, it's been underperforming for a while. This is after it failed Phase three testing. This led to at least ten analysts downgrades after it
failed to the testing for its melanoma drug. Biotech was aiming to show improvement in patients with metastatic melanoma, but they didn't have a statistically significant enough number for how long patients lived before their cancer advance compared to competitor merks K Truda. Bimo analyst said that this trial was a defining moment for the company in the first half of twenty twenty six and that sentiment was inextricably tied to these results, So that is why the stock is down so much today.
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