Stock Movers Concentrix Falls, Jefferies Mixed, ImmunityBio Down as FDA Issues Warning Letter on Cancer Claims
Mar 24, 2026
Avalon Hernell, Bloomberg reporter who delivers quick market rundowns. She covers Concentrix’s weaker Q2 forecast and EPS miss that sent shares lower. She discusses mixed moves around Jefferies tied to takeover chatter and strategic stakes. She also breaks down ImmunityBio’s steep sell-off after an FDA warning about promotional claims.
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Concentrix Stock Collapse After Weak Q2 Forecast
- Concentrix plunged after a cautious Q2 outlook and EPS guidance that missed expectations.
- Avalon Hernell noted midpoint revenue missed and investors worry about AI-driven structural threats to Concentrix's business.
SMFG Interest Seen As Opportunistic For Jefferies
- Jefferies moved higher on reports SMFG may consider a takeover and already holds about 4.5% of Jefferies.
- Avalon Hernell and the host flagged the move as opportunistic amid Jefferies' 36% YTD decline and unresolved credit pressures.
FDA Warning Slams ImmunityBio For Misleading Cancer Claims
- ImmunityBio plunged after an FDA warning letter over misleading promotion of its bladder cancer drug Anktiva.
- Avalon Hernell cited a TV ad and CEO Patrick Soon-Shiong's claim the drug could treat all cancers despite approval only for a specific bladder cancer.