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This stock Mover's 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 Stan Curtis, coming back from a holiday, a long holiday weekend to the biggest stock mover to the upside by a long shot. This morning, Dan, what is happening with Seleno Therapeutics? Good morning, Good morning Nathan.
That's right, we just got a headline saying that the trading is halted in the pre market pending news. This comes after The Financial Times reported that Neurocrin is an advanced talks to buy the rare disease biopharma company Soleno. Citing people familiar with the matter. The report says Seleno could be valued in a range of low to mid fifty dollars a share, and that deal could come together as soon as today. So with the with the halted pending news, that seems like we might be getting some
news out shortly. Last year, Seleno won approval for a drug to treat insatiable hunger caused by a genetic disorder. Following that a short seller's Scorpion Capital accused the company of clinical trial issues, safety and efficacy concerns with the drug. Seleno said that the drugs launch was disrupted by the report, but in February it said the US launch was well underway. And now we're getting some news for the bulls in this company.
And speaking of insatiable hunger, it seems like at least one analyst thinks that's what consumers are feeling for Tyson Foods.
That's right.
Tyson was upgraded to overweight from neutral at Piper Sandler. It is now the sixth by rating. The company also has two seals and eight holds. Price target at seventy five dollars a share, up from sixty one dollars. That has shares up one percent in pre market trading around sixty five dollars a share. The analyst notes the meat company has strong top line momentum, and it's benefiting from consumer shifting to protein, and that's also helping insulate it from GLP one risks.
We're also seeing a pretty strong bid here this morning for Applied Opto Electronics.
That's right, ticker AAoI Applied Opto Electronics is up over six percent in the pre market. That's after announced a new seventy one million dollar order from a hyperscale customer, bringing that unnamed customers orders to over one hundred and twenty million dollars in under a month. Applied opt To Electronics is a relatively small company, but it is in the optic space and that has seen an influxtion demand
amid the AI data center build out. Hyperscalers are looking for ways to increase how fast they can transfer data and that's boltering the shares, which are up nearly two hundred percent so far this year. It's outpacing competitor Lumentum, which was added to the S and P five hundred recently.
And that's not the only big tech name that's catching a bid this morning.
That's right.
We have tech in general taking stocks higher with a little bit of optimism this morning, although that optimism is coming back. Memory stocks Micron Sanddisc are up about three percent in the pre market. In video, which is one of the key bell weathers, that's up about two tenths of a percent. That's after we got an update from the world's largest electronics manufacturer, hanhi the Taiwan based company, reported nearly thirty percent rise in quarly sales in the
first three months of the year. That comes amid concerns about the race to build out power hungry data centers in the face of the Iron War, which is pressuring energy prices, but so far it is looking strong based on what Hanhaigh updated with us this weekend.
This Stock Movers 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 out h