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Abivax stock climbed more than 30% after the French biotech released additional data from its late-stage trial of obefazimod, showing that cancer cases in the study were consistent with background rates expected in that patient population.

On this episode of Stock Movers: - Concentrix (CNXC) shares are sliding after the call-center company slashed its full-year outlook. Its forecasts for reported revenue and adjusted earnings per share also undershot Wall Street's expectations. - AeroVironment (AVAV) shares are jumping after the defense company reported fourth-quarter results that topped expectations across key metrics and forecast 2027 revenue that at the midpoint exceeded analysts' estimate. - Digital Reality (DLR) shares are lower on news it will buy a Blackstone data center stake for $3.5 billion.

Charles Schwab President & CEO Rick Wurster discusses the new Trump accounts, and how Schwab plans to support the program when it becomes available to financial firms. He also shares his outlook on the economy, geopolitical uncertainty, and the Federal Reserve, explaining why he believes investors should focus less on headlines and more on staying invested for the long term. He's on this week's episode of Bloomberg Wealth. This interview was recorded May 1 in New York.

Charles Schwab President & CEO Rick Wurster discusses the biggest challenge he faces and shares a story about founder Chuck Schwab that illustrates the company's unwavering, client-first philosophy, one that prioritizes value and scale and long-term growth over short-term profits. Wurster is on this week's episode of Bloomberg Wealth. This interview was recorded May 1 in New York.

Toyota (NYSE:TM) and Joby Aviation (NYSE:JOBY) launched the initial phase of a strategic manufacturing alliance, creating a joint venture to advance all-electric air taxi production.

PetMed Express (NASDAQ:PETS) confirmed receipt of an unsolicited, non-binding and conditional proposal from SilverCape Investments to acquire all outstanding shares for $3.00 per share in cash.

ADC Therapeutics SA (NYSE:ADCT) said it has completed enrollment in the LOTIS-7 Phase 1b clinical trial evaluating ZYNLONTA in combination with glofitamab for patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL).

The combined market value of the Magnificent Seven — Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA), Alphabet (NASDAQ:GOOGL), Apple (NASDAQ:AAPL), Meta Platforms (NASDAQ:META), Tesla (NASDAQ:TSLA), and Amazon.com (NASDAQ:AMZN) — fell about $2.3 trillion in June, according to CNBC.

Bob Michele, global head of fixed income at JPMorgan Asset Management, explains the factors he sees leading the Federal Reserve to raise interest rates "once or twice" next year, but not engage in a "dramatic hiking cycle."

ADC Therapeutics (NYSE:ADCT) said it has completed enrollment in the LOTIS-7 Phase 1b clinical trial evaluating ZYNLONTA in combination with glofitamab for patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL).

Vistagen (NASDAQ:VTGN) announced topline results from the PALISADE-4 Phase 3 trial of intranasal fasedienol for the acute treatment of social anxiety disorder.

Dan Ives, global head of tech research and senior equity analyst at Wedbush Securities, sees the upcoming earnings season as a "huge validation moment" for big tech stocks, which he says were "way oversold in June."