00:00:02
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
00:00:08
Speaker 2: Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
00:00:16
Speaker 1: Let's take a look at some stocks on the move today. I'm Nathan Hanker, joined by Bloomberg Stan Curtis. As we get ready to close out one of the best quarters for global stocks in about six years. Dan, you're starting us off with one stock that is definitely not participating in the overall rally.
00:00:32
Speaker 3: Good morning, Good morning, just like my brackets, not participating in a lot of the excitement. This falling, So we can go to that another time. Concentrics CNXSE. Those shares are down twenty four percent in the pre market. This company handles customer experience outsourcing, and it is falling after earnings. So while the company basically matched both top and bottom line estimates for the second quarter, it lowered its top and bottom line estimates for the current quarter and fiscal year. Noted that it's ix Suite, which integrates AI, is on track to double to one hundred and twenty million in revenue by the end of the year, and Bloomberg Intelligence is saying that this reinforces the concerns that AI is shrinking demand for customer experience outsourcing, hence cutting those estimates, while while and that's happening faster than higher value in AI surfaces services are expanding. So that kind of push pull is really being highlighted over this full year outlook.
00:01:27
Speaker 1: And we've got some headlines this morning that have ABVY and Merk under pressure. This morning, dan So Merk.
00:01:33
Speaker 3: Is down about half a percent. ABV is down about one percent in the pre market right now, and that's as a biparison group of US lawmakers has opened national security investigations into the drug makers, and that's according to a report by Reuters. The report says the probe is into whether they have filed whether they have involved in clinical trials conducted in China that helped fuel the country's military capabilities. The representatives ask for details of the trial sites in China, particularly the Shinsha region and military hospitals, and they say that Chinese researchers have documented lapses in securing informed consent from trial participants in that region. Merk's responsor Reuters was at patient safety and ethical integrity our priorities, and it follows all global guidelines. While advideclined to comment, China's US embassy responded by email that there is nothing credible in the committee's action. Those shares under pressure in the pre market.
00:02:22
Speaker 1: Okay, so we'll have to watch for more developments around that. In the meantime, let's go back to something of an AI play for Digital Realty.
00:02:31
Speaker 3: Yeah, Digital Realty. So this is a data center platform and it is buying Blackstone's stake and three data centers across northern Virginia for three and a half billion dollars. Those shares, which are trading under ticker DLR, are down four percent in the pre market. The deal is, the deal is one point two billion dollars in cash and two point three billion dollars in shares. So that two point three billion dollars in shares is coming through a secondary offering which is going to add a little bit of dilution, and those shares are down today. Now, this transfers eighty percent of interest in two data centers to Digital Realty, fifty percent interest in a third, each of which are ninety six megawatts who about three hundred megawatts in total. Now, this is something I learned this morning. North Virginia is the lead data center hub in the US according to CBRE, and it benefits from strong fiber connectivity and proximity to major cloud and federal user so digital realty is really going and hard in that area.
00:03:25
Speaker 2: 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 app.
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
00:00:08
Speaker 2: Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
00:00:16
Speaker 1: Let's take a look at some stocks on the move today. I'm Nathan Hanker, joined by Bloomberg Stan Curtis. As we get ready to close out one of the best quarters for global stocks in about six years. Dan, you're starting us off with one stock that is definitely not participating in the overall rally.
00:00:32
Speaker 3: Good morning, Good morning, just like my brackets, not participating in a lot of the excitement. This falling, So we can go to that another time. Concentrics CNXSE. Those shares are down twenty four percent in the pre market. This company handles customer experience outsourcing, and it is falling after earnings. So while the company basically matched both top and bottom line estimates for the second quarter, it lowered its top and bottom line estimates for the current quarter and fiscal year. Noted that it's ix Suite, which integrates AI, is on track to double to one hundred and twenty million in revenue by the end of the year, and Bloomberg Intelligence is saying that this reinforces the concerns that AI is shrinking demand for customer experience outsourcing, hence cutting those estimates, while while and that's happening faster than higher value in AI surfaces services are expanding. So that kind of push pull is really being highlighted over this full year outlook.
00:01:27
Speaker 1: And we've got some headlines this morning that have ABVY and Merk under pressure. This morning, dan So Merk.
00:01:33
Speaker 3: Is down about half a percent. ABV is down about one percent in the pre market right now, and that's as a biparison group of US lawmakers has opened national security investigations into the drug makers, and that's according to a report by Reuters. The report says the probe is into whether they have filed whether they have involved in clinical trials conducted in China that helped fuel the country's military capabilities. The representatives ask for details of the trial sites in China, particularly the Shinsha region and military hospitals, and they say that Chinese researchers have documented lapses in securing informed consent from trial participants in that region. Merk's responsor Reuters was at patient safety and ethical integrity our priorities, and it follows all global guidelines. While advideclined to comment, China's US embassy responded by email that there is nothing credible in the committee's action. Those shares under pressure in the pre market.
00:02:22
Speaker 1: Okay, so we'll have to watch for more developments around that. In the meantime, let's go back to something of an AI play for Digital Realty.
00:02:31
Speaker 3: Yeah, Digital Realty. So this is a data center platform and it is buying Blackstone's stake and three data centers across northern Virginia for three and a half billion dollars. Those shares, which are trading under ticker DLR, are down four percent in the pre market. The deal is, the deal is one point two billion dollars in cash and two point three billion dollars in shares. So that two point three billion dollars in shares is coming through a secondary offering which is going to add a little bit of dilution, and those shares are down today. Now, this transfers eighty percent of interest in two data centers to Digital Realty, fifty percent interest in a third, each of which are ninety six megawatts who about three hundred megawatts in total. Now, this is something I learned this morning. North Virginia is the lead data center hub in the US according to CBRE, and it benefits from strong fiber connectivity and proximity to major cloud and federal user so digital realty is really going and hard in that area.
00:03:25
Speaker 2: 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 app.
