Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look now at some stocks on the
Speaker 3: move in Europe. I'm to you added by with Stephen
Speaker 3: Carroll and we're joined by Bloomberg's Breaking News editor Louise Moon. Louise,
Speaker 3: let's start with GSK. How are investors digesting the latest
Speaker 3: m and a news to do with the company.
Speaker 1: Yeah, well, so I'll start with the news that we
Speaker 1: can get into the share price reaction because it's quite
Speaker 1: an interesting one. So GSK have agreed to buy new Valain.
Speaker 1: So this is a clinical stage biopharmaceutical firm based in Massachusetts.
Speaker 1: So a US based firm that's for ten point six
Speaker 1: billion US dollars. It's one of its largest ever deals,
Speaker 1: a huge deal for GSK, not exactly known for its
Speaker 1: risk taking. It's also the first major deal under its
Speaker 1: new CEO, joined at the beginning of this year and
Speaker 1: essentially is trying to revitalize the company bolster its pipeline.
Speaker 1: There's a lot of investor fears about the drugs GSK
Speaker 1: has in development, you know whether whether they'll be enough. Essentially,
Speaker 1: so this is push further into oncology via this deal,
Speaker 1: so cancer drugs, So through buying neuvelent, they'll gain access,
Speaker 1: particularly to two experimental medicines they're in late stage trials.
Speaker 1: So when you look at it on the face of it,
Speaker 1: it seems, you know, this is a this is a
Speaker 1: kind of a big, bold step. It's a push into oncology.
Speaker 1: Seemingly positive shares, however, fell this morning are falling. They
Speaker 1: fell as much as three point nine percent in morning trading,
Speaker 1: actually making it the worst performer on the stock six
Speaker 1: hundred healthcare index across Europe. Analysts are essentially saying it's
Speaker 1: a big price. The deal size is larger than expected,
Speaker 1: and that leaves little room for missteps by GSK. And
Speaker 1: they're also saying that it doesn't give GSK any blockbuster assets,
Speaker 1: so the upside of the deal is quite capped and
Speaker 1: banking on you know, these two experimental medicines that are
Speaker 1: still in trial.
Speaker 2: Okay, so that's the GSK story this morning. Fever Tree
Speaker 2: meanwhile showing you don't need alcohol to have a good.
Speaker 1: Time, no exactly. So they've had an update ahead of
Speaker 1: the ADM today all very positive essentially so on track
Speaker 1: to me expectations. They've extended the buyback program program that's
Speaker 1: by another thirty pounds. They've also said quite interestingly that
Speaker 1: they're well hedged from a cost perspective in light of
Speaker 1: all the geopolitical backdrops intentions going on at the moment.
Speaker 1: Essentially two main things. So one they've made quite good
Speaker 1: progress on integration with US Mulsen cause obviously that partnership
Speaker 1: was announced a while ago, so progress on that and
Speaker 1: that further push into the US is going well. And
Speaker 1: then also a progress on push more into soft drinks.
Speaker 1: They've been putting quite a lot of empsis not just
Speaker 1: on being a tonic maker, but also being pushed into
Speaker 1: soft drinks. As you say, don't need alcohol to have
Speaker 1: a good time. So analysts are welcome it. They say
Speaker 1: there's no low lights to the update. Those profits from
Speaker 1: that partnership in the US will be a meaningful cushion
Speaker 1: given as I say, all that volatility that backdrop, so
Speaker 1: it's a confident message. Shares up over eight percent to
Speaker 1: the highest in a month.
Speaker 3: Wow. So from alcohol to space craze that seems to
Speaker 3: be coming to the UK who is benefiting from this
Speaker 3: market lift off.
Speaker 1: Yeah, so slightly niche one. It's a foot seat all
Speaker 1: share company called Serophim Space Investment Trust, but an interesting
Speaker 1: story this morning. So their shares up as much as
Speaker 1: twenty six percent, the biggest jump in three years. That's
Speaker 1: after they said that the value of they're holding in
Speaker 1: ice Eye, which is a finished company, doubled after ice
Speaker 1: I had a funding round. So this is benefiting them.
Speaker 1: It's also benefiting other companies like molten Ventures also listed,
Speaker 1: also an investor in ICEI. They're gaining as much as
Speaker 1: twelve percent this morning. So I is a finish satellite startup.
Speaker 1: Essentially they provide you know, weather and earth observation data
Speaker 1: to governments and businesses. They've raised money and new funding
Speaker 1: round and their evaluation is at more than ten billion euros.
Speaker 1: This is boosting Seraphim's Space Investment Trust this morning, molten
Speaker 1: Ventures and others as well. And also you know, there's
Speaker 1: been some quite positive messaging going forward for ICEI. They
Speaker 1: say that well, already they've been quite critical in Ukraine,
Speaker 1: helping them identify Russian military movements. They're now involved in
Speaker 1: the Middle East. They say that there's seven European governments
Speaker 1: that have bought their systems, so revenue is going to
Speaker 1: roughly double this year. So well, we keep an eye
Speaker 1: on seraphims Space in particular to see if you know,
Speaker 1: there's an even further boost to today's share gifts.
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