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Let's take a look at some of the stocks on the move. And we can do that with Bloomberg's John Tucker. John, what are you looking at today? Uh, let's start, Paul, with Novartis, the shares uh, plunging the most since 2020. This is a uh it's kind of a triple punch for them. It's a treatment for a muscle wasting disease. So that one failed to meet the primary endpoint in the trial. Now, this is all shaking and lost confidence and the growth profile of this drugmaker.

The failure, which at least one analyst describes as another major pipeline setback. It follows the news that we had yesterday that Novartis has new heart medication that failed in a final stage study, uh, while trials for another drug were halted just last week. So again, this is like a one, two, three punch. It's the third clinical trial setback in a week. The news also impacting the biotech space in general with most of the shares slumping.

A shares of Amgen, for instance, which is in late stage testing of its own heart disease medication also being dragged down by this news from Novartis. Uh, next up, I bet Novartis, by the way, just that's a Swiss company. Huge operations in the US in summit, new Jersey. Oh no kidding. Okay. Big time. Uh, Boston Scientific. Uh, let's move to that. The next doc says it is unlikely to meet its previously provided net sales growth and adjusted earnings per share guidance ranges for both the third quarter and the full year for 2026.

And this Paul, follows the cybersecurity incident, uh, first identified August 25th Boston Scientific that yeah, it anticipates recovering some portion of impacted revenue as operations or they try to ramp it up. The cyberattack affected, among other things, the information systems used to process and ship customer orders. It's also impacted manufacturing. We're just learning that part. Um, some employees, if you went online, they were complaining, especially, uh, they have manufacturing facilities in Ireland complaining about cancelled shifts, uh, lack of information about the working plans.

Uh, this incident, the latest in a string of attacks that has hit the medtech sector in recent months, including some of the top companies in the industry. You know, um, over the weekend of the movie on I haven't seen in 100 years, the graduate was playing. So I caught a couple scenes of that. And of course, the famous line is the future is plastics. The future now is, if you're a young person, cybersecurity. With all this AI stuff, your cybersecurity needs were a huge business before I now I got to think with AI, the the tools the criminals have at their disposal are just exponentially more powerful, I would think.

Uh, but then you got to wonder, does AI police itself does that cyber security. So who knows. Uh, let's do Intel next. The share is outperforming the Nasdaq uh, in pre-market trading as follows. The reports of companies looking to raise computer chip prices next month. Certainly the there's demand there. So maybe they can raise without, uh, too much um, um, to many consequences in terms of sales. Uh, the technology publication DigiTimes reporting Intel planning to lift prices on its central processing units by 10%.

This will take place early October, according to the publication. At least one analyst says the move to raise chip prices, uh, even as the computer market is expected to shrink next year, suggest Intel is prioritizing gross margin expansion rather than expanding market share. Uh, the run up in memory chip prices so far this year, driven by, uh, surging demand from AI, uh, biting into the broader tech sector. You recall back in April, Intel said raising costs of memory chips and other key components would actually reduce the total market for PCs by a low double digit percentage.