00:09 Speaker A
It’s time now for today’s trending tickers. Well, let’s start with a big headline this morning. Boeing is getting a lift after taking center stage in US-China negotiations. Shares are up in pre-market now. Let’s have a quick look at that chart. That’s up, yeah, up over 2%. That’s after the US Ambassador to China, David Perdue said that the two countries were in advanced negotiations for a quote huge deal to buy Boeing planes. Bloomberg has reported the order could involve up to 500 aircraft, which would be Boeing’s first major Chinese sale since before the pandemic. The American plane maker has lost ground to its European rival Airbus in recent years.
01:03 Speaker A
Next up, Orsted is rallying after a federal judge lifted the Trump administration’s ban on its massive wind project off Rhode Island. And the Danish wind company’s shares listed in Copenhagen, which have been in free fall in recent weeks, shot up by more than 12% at one point and now standing at over 4% higher. The offshore wind farm is 80% complete, so this is a big relief for the investors worried about Orsted losing several billions of dollars if the project was canceled.
01:38 Speaker A
Now, there’s another renewable energy stock you need to watch today. Plug power. Shares of the hydrogen cell fuel maker continue their remarkable run after soaring 21.6% in regular trading. The stock is adding another 20 another, whoa, another uh large amount in pre-market. This has a lot to do with artificial intelligence. Investors are looking at potential of hydrogen storage in data centers which will have sky high energy needs.
02:22 Speaker A
On to healthcare stocks now. and Tylenol maker Kenvue is bouncing back from a steep sell off following President Trump’s statement linking Tylenol to autism and ADHD. Kenvue’s New York listed shares gained about 6% in after hours as many doctors rejected Trump’s claim and Kenvue reiterated there’s no scientific evidence that Tylenol causes autism when taken by pregnant women.
02:59 Speaker A
Finally, Alphabet is seeking to avoid the breakup of its ad tech business in a new anti-trust trial that threatens to upend its business. Former FTC chairman William Kovacic talked with Yahoo Finance’s Miles Udland about what’s at stake.
03:19 William Kovacic
So this case focus is on Adtech on its advertising services, the ad exchange and the operation of the ad exchange. So this case seeks uh in the Justice Department’s view to loosen Google’s control over this critical element of the advertising stack and to give uh publishers and advertisers more freedom to choose alternative strategies for dealing with each other.
04:00 Miles Udland
Now, I’m curious in in your view based on the ruling that we got uh last month, um how this maybe impacts uh the you know, the government’s case going in, the government’s thought around the case, Google’s case going in. Like is there a relationship here, um you know, in your view of how the company um and the government may approach these proceedings given uh what we saw, you know, handed down in late August.
04:31 William Kovacic
We can be sure that the judge in the Adtech case is going to study, has studied that earlier decision very carefully. Both to look at the framework that Judge Meta used in the search case and to assess how it might be applied in her own circumstances. So, that’s going to be a very informative framework. The key difference is that Judge Brinkema’s case involving Adtech involved different facts, somewhat different arguments, and she has considerable discretion to decide how she will apply that legal framework. So, the the lighter touch treatment that Google received in the search case does not necessarily predetermine a similar outcome in the remedies case in Adtech.
05:31 Miles Udland
Now, I’m curious though, we’ve seen kind of the, let’s say the environment towards antitrust, the enthusiasm that some corners of government have around uh enforcing certain statutes or, you know, interpreting them certain ways, has changed in the time since this case was first brought and then we actually go to trial. How do, you know, how do either side, how does either side think about that in the run-up um to a proceeding that is, you know, this kind of high profile, especially around a company like this with the potential, you know, remedies that I think some thought could be handed down depending on uh which way the judge breaks?
06:21 William Kovacic
One area of continuity that we’ve seen across the Biden and Trump administrations is a commitment to pursue these big tech cases. The leadership of the Department of Justice has been emphatic in saying that their approach is full speed ahead, that the broader aim of structural relief, which would involve some element of a divestiture is still front and center in their remedial aims, so that the Trump administration and Biden administration, although they’re not fond of saying they have much in common, seem to have common cause on this case.
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