Weekly Roundup: Meta's Big Week, Paramount Skydance Mixed, Forte Biosciences Soars

The decisions you make don't sit still. They move through your business, across your teams, into everything that comes next. That's why the thinking behind them matters. Not just how big it is, but how close it gets. That's Baker Tilly. Close enough to understand what's really driving your business. Close enough to turn insight into action. Across advisory, tax, and assurance, Baker Tilly brings enterprise-level thinking built around your business. Baker Tilly. Big thinking within reach. Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. I'm Carol Messer, along with Isabel Lee. Let's get to those some stocks that were on the move this week. Overall, Bloomberg News Equities reporter Avalon Purnell is in the house. And And we've got to start with Meta, don't we? We sure do. That's ticker Meta. Very easy. Jumped nearly 15% this week to notch its best week since February. And that's after a whole lot of different things. Price targets were upgraded and also a very positive note at Semi Analysis which said that Meta seems to be best poised to really take on Anthropic and open AI given the fact that they have world data talent and compute Oh, that's actually it. We've been talking about Meta for a while. I mean, broader chip companies and tech companies. What about Paramount Skydance? What's happening in that side of the world? Not as positive of a story. That's ticker PSKY. Currently sliding about 9.5% to close out its worst week also since May. And that's after Arite downgraded the stock to sell, saying that the managed attainment team just doesn't have enough experience to deal with the massive amount of debt that this merger would add. Oh, come on. We all warned about this, right? I mean, in terms of media deals and like there's just a lot of debt and then like what do you do out of it? So how much was it down for the week? It was down nearly 9%. Worse since May. Yes. That's a pretty drop. I feel like it got kind of lost in a lot of the tech news this week. down 30% year to date. So we have seen quite a slide, no pun intended. And I just want to go back to meta for a second. You mentioned the gain that we saw for the week overall, it is still just up about 1% for the year. Exactly. Yeah. Cause it's, we've seen so many of those mag sevens lagging in a big way All right So meta paramount skydance big movers for the week overall What your third one Our last one is Forte Biosciences a slightly different name ticker FBRX surging nearly 110% to notch its best week since 2024. Wow. And that's after reporting some pretty positive early stage clinical data for its vitiligo drug. And it also pushed up some of its peers as well, like First Tracks Biotherapeutics, which is pursuing a similar molecule for a different therapy area. You follow this. And there's been just so much, I feel like, in the drug space right now in terms of deals being done. I know some of it's about for companies building out their pipelines, but there's a lot of movement lately going on, too. Yes, there's definitely a lot of movement. And for biotechs like this, this is how it starts. You have to have some good early-stage data that gets the likes of a big pharma name like an Eli Lilly interested. 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. The decisions you make don sit still They move through your business across your teams into everything that comes next That why the thinking behind them matters Not just how big it is, but how close it gets. That's Baker Tilly. Close enough to understand what's really driving your business. Close enough to turn insight into action. Across advisory, tax, and assurance, Baker Tilly brings enterprise-level thinking built around your business. Baker Tilly. Big thinking within reach. The Exchange from The New Statesman Weekly, in-depth, long-form interviews With guests including Salman Rushdie Would you say you are in the 11th Hour of Life? I hope I'm only in about the 9th or 10th Ai Weiwei So if you were to put on an exhibition called Ai Weiwei, The Last Work, we shouldn't believe it Actually, you shouldn't believe anything I said And Masha Alyokina from Pussy Riot Is there a world in which you could ever go back to Russia? Politically, we exist there Physically, we do not exist there Covering politics. The most governmentally illiterate Labour Prime Minister in history. Culture. I'm not in the mood to take any risks lately. Society. Should education be a commodity? No. And philosophy. Sex is both personal and political and public. Listen wherever you are listening to this.