Nathan, Bloomberg Radio, Creedy Gupta discussed on Bloomberg Daybreak


They were counting on high priced free agent Kenny gallaudet and first round draft pick to Darius Tony, but so far, those two have combined for only two catches. John stash hour Bloomberg sports, Nathan. Okay, John, thank you 6 37 on Wall Street time to take a look at stock some of the names moving in the pre market. We've pride Bloomberg radio and TV markets correspondent creedy Gupta away from watching the UK market this morning to let us know what's going on in the early trade here on Wall Street. What are you looking at creating? Do you know? Do you know how hard that was, Nathan? I bet. It's like watching a train wreck. It looks like it's having some kind of impact on the futures as well. They've been whipped song. They are, I think if you're just trimming some of their losses here off the announcement, which is interesting, really reacting to the bond market, perhaps things there's some maybe some stimulus on the macro front, perhaps coming or I should say less hawkishness for that matter. Let's go to the U.S. though because there seems to be a perhaps a little bit more semblance of calm, although I wouldn't call it I wouldn't go crazy with that phrase either. Apple shares AAPL is what's taking the cake with taking the spotlight really this morning down about three and a half percent. This comes after a Bloomberg report actually a Bloomberg scoop, I should say that the company is likely to ditch its iPhone production boost. Remember this was going to be their major kind of shift forward. They were shifting to production lines from China to India, a really amping up what they're going to do for the iPhone 14, as well as creating perhaps a more lower cost version to be able to tackle some of the more emerging markets that rarely Apple doesn't have the majority of sales in. I'm really taking on China a full throttle. So that news looks like undermined a little bit here with that bloomer report. And the ripple effect here is going to be all across their supply chain. So Apple shares AAPL down 3.4%, but then you have to look at the semis as well. Micron, for example, MU's your ticker down 1.2% Qualcomm, not far behind it. QC OM is your ticker down 1.8% in the morning and of course skywork solutions also part of the supply chain. Down about 2% Nathan. So once again, a reform effect. And of course, the other big corporate story this morning creedy is Biogen and that Alzheimer's drug. That stock's been soaring all morning long. Oh, it absolutely is a 43% gain, and that's not even where it was session high. So for BIID, that's your taker for Biogen to your point Nathan, it is talking about its biggest gain since its 1991 IPO that is, of course, if the move actually holds the way it is right now, analysts saying it's all about the Alzheimer's drug study with their partner, I sigh, looks like things are going well on the Biogen front. And remember, Biogen was actually looking for alternative ways to diversify their portfolio. They were actually basically thrown under the bus for a while because of the lack of diversity they had in their portfolio. So this is really good news that they were finally able to get a little bit of success there. I'll leave you with one more very quickly locking Martin LMT down about 2% this morning. This comes after it was downgraded to an underweight over at Wells Fargo. Taking a little bit more of a cautious view on the defense sector. All right, Bloomberg radio and TV markets correspondent creedy Gupta will let you get back to the UK market. Now it is a very busy early session and looking at futures this morning it's busy there as well they had been lower for much in the morning right now S&P futures are up two points. We'll call it little change. Dow future is up 54

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