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CNBC's "Fast Money"

Markets Shrug Off Semi Weakness…And One Biopharma Stock Surges After Trial Results 6/24/24

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 24 June 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Nvidia notching another day of losses, but the broader markets aren’t taking it too hard. How investors are handling the semi slide. Plus A big jump for one biopharma stock as Alnylam delivers promising new heart drug results. What the CEO had to say about the data, and the impact it could have on the space. Fast Money Disclaimer

Transcript

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0:00.0

Black in the Nesac Market site in the heart of New York City's Times Square.

0:06.6

This is Fast Money.

0:07.8

Here's what's on tap tonight.

0:08.9

Decoupled, shares of NVIDIA sinking again, erasing more than two weeks of gains but surprisingly

0:13.9

the broader market holding up is energy and utilities move higher so does this put an end

0:18.1

to the argument so goes invidia so goes the market plus the Boeing bounce shares rising even as the government

0:24.3

reportedly urges the DOJ to bring criminal charges against the aerospace

0:27.7

giant so has all the bad news been baked into the stock and later shares of

0:32.0

anilim pharmaceuticals soaring to levels not seen in

0:34.9

over a year after late stage trial results for heart disease medication CEO Yvonne

0:39.6

Green Street will join us for an exclusive interview to talk about the drug and what

0:43.8

this all means for the company. I'm Melissa Lee Kumjilah from Studio Be at the

0:47.2

Nazak on the desk tonight. Tim Seymour, Dan Nathan, Guyadami, and

0:50.3

Cebedhae to Supermanian head of U.S. Equity and Quantitative Strategy at Bank of America Securities.

0:55.4

Welcome, Civita.

0:57.3

And we start off with a third day of massive losses for Invidia.

1:00.6

The semi-stocks sliding, almost 7% today, its biggest drop since mid-April, its

1:05.3

worst three-day decline since December 2022.

1:08.8

It is now down, 16% from the record high hit just last Thursday, shedding nearly a half a trillion dollars in market

1:15.7

cap in that time.

1:17.1

Today is moved dragging down the rest of the chip sector, Marvell technology, Qualcomm,

1:21.0

Taiwan Semi all seeing outsized losses, but the rest of Wall Street

...

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