CoreWeave Rises, Cleveland Cliffs Gains, EyePoint Sinks to Record Low After Drug Trial Fails

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0:08 The Stock Movers Report. Your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data. Let's see where some of the individual movers are today. We can do that with Matthew Griffin, Bloomberg Equities Reporter.

0:21 Matt, what are you looking at today? Well, Paul, CoreWeave continues to be one of the stories of the day. That stock ticker CRWV is up just under 3%. And It's getting some relief after the 25% slide last week. We have a bit of a rebound across the AI trade, so chip makers are higher. The other neocloud computing companies like Nebius are higher. And then for CoreWeave, we actually got an upgrade to buy from Neutral at Goldman Sachs.

0:48 They say the company stands out from peers on metrics like performance and cost. And then they address these concerns about its cost of debt. They say that's unlikely to increase by more than about two percentage points, which would be a level that would still keep the equity return attractive for investors. And good Lord, 25% drawdown in a week.

1:07 That was quite aggressive.

1:08 Yep, absolutely.

1:09 What else you got for us?

1:11 Well, we have Cleveland Cliffs. That's a steelmaker, ticker CLF, and it's rallying 14% today after its earnings quadrupled year over year. The story there is President Donald Trump's tariffs on the metal. That's a 50% tariff. It's pushed steel prices to the highest in more than four years. And when you look at earnings, that translated into adjusted earnings before interest taxes and other items of $ 612 million. Analysts were looking for just $ 591. 5 million. So a big beat there.

1:41 I do think it's interesting. We're seeing the two sides of the tariff coin this morning. If you look over at another name, this is a water heater maker called A.O. Smith. That stock ticker AOS. They're down just under a percent after being downgraded at Stiefel yesterday. on, you know, you guessed it, steel tariffs, which are raising their input costs.

2:00 So you really have winners and losers here.

2:01 All right, last one, iPoint.

2:05 iPoint, this is a drug maker, ticker EYPT, and they are down 84% after disappointing drug trial data. That's a late stage trial of a treatment for wet age-related macular degeneration and eye condition. That's awesome. And if you're wondering why we're talking about a stock that has a market cap of about $ 41 million, that's.

2:26 Because this was a $ 1.

2:28 5 billion stock to start off the year. Then you had disappointing trial data in August, disappointing data today. That stock is down now.

2:36 At 97% year-to-date.

2:36 Oof.

2:39 The 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.com, and on Apple CarPlay and Android Auto with the Bloomberg Business app.