WEBVTT - Hims & Hers Sinks; Kroger's Next CEO; STMicro Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market. Harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis as we

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<v Speaker 1>kick off the trading week. Looks like it's going to

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<v Speaker 1>be a pretty rough day if you're an investor in

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<v Speaker 1>Hymns and Hers. Good morning Dan, Good morning Nathan.

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<v Speaker 3>That's right. Hymns and Her shares are down fifteen percent

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<v Speaker 3>in the pre market as the telehealth company pulls a

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<v Speaker 3>copycat version of weegovie's weight loss pill. We talked about

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<v Speaker 3>this last week. There's been a lot of drama playing

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<v Speaker 3>out in the weight loss space, but basically last week

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<v Speaker 3>and Hers came out and they said we have a

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<v Speaker 3>fifty dollars a month pill that will compete with wee

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<v Speaker 3>govi's version of the pill, which is much more expensive.

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<v Speaker 3>Novo Nortice, which makes we gov called the pill legal,

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<v Speaker 3>said it threatened patient safety. The FDA then pledged to

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<v Speaker 3>crack down on copycat weight loss drugs, so Hyms and

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<v Speaker 3>Hers got back under the spotlight. The Department of Health

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<v Speaker 3>and Human Services also said it referred Hyms and Hers

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<v Speaker 3>to the Department of Justice for possible violations of federal

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<v Speaker 3>loss So a lot, a lot of blowback on Hymns

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<v Speaker 3>and Hers shares down fifteen percent. So those shares are down.

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<v Speaker 3>Novo Nordisk, which is making the key pill that Hyms

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<v Speaker 3>and Hers was going to try and you know, create

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<v Speaker 3>a copycat of those shares are up six percent. And

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<v Speaker 3>I'm going to just tie this back into Super Bowl

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<v Speaker 3>because we cannot. We just have to on Monday, right sure, Yesterday, yesterday,

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<v Speaker 3>Novo Nordisk aired its first ever Super Bowl ad four

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<v Speaker 3>a week go Vi, DJ Khaled, Daniel Brooks, Keenan Thompson

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<v Speaker 3>all aired in it. That just shows you how big

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<v Speaker 3>the weight loss market is. They're spending big money on

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<v Speaker 3>these Super Bowl ads because they are all.

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<v Speaker 1>In Okay, Well, I don't know if there were any

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<v Speaker 1>Kroger ads in the I'm pretty sure there weren't, but

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<v Speaker 1>we are seeing some changes coming at Kroger this morning.

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<v Speaker 3>That's right in London here. I couldn't quite stay up,

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<v Speaker 3>so I can neither confirm nor deny any Kroger at

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<v Speaker 3>understood but the largest grocery chain is the shares of

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<v Speaker 3>that are up six percent in the pre market. It's

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<v Speaker 3>getting ready to name a new CEO, according to people familiar.

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<v Speaker 3>So the word on the street is that incoming CEO

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<v Speaker 3>is named Greg Forren. He's a former Wall Street exec.

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<v Speaker 3>He's credited with turning around Walmart's US business about a

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<v Speaker 3>decade ago. His strategy cleaner stores, friendlier, friendlier environment, lower prices,

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<v Speaker 3>and he raised Paige well, he raised pay for employees,

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<v Speaker 3>and so that has those shares up six percent. And

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<v Speaker 3>this is big news for Kroger. It would be the

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<v Speaker 3>first time an external candidate was ever named as CEO

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<v Speaker 3>to Kroger. So they are for the first time apparently

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<v Speaker 3>looking outside the company for the new leadership.

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<v Speaker 1>And I Amazon, it seems, is looking for a new

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<v Speaker 1>relationship with a new chip maker, and it's got that

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<v Speaker 1>particular company's stock moving exactly.

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<v Speaker 3>If you are spending one hundred and eighty five billion dollars,

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<v Speaker 3>you will get a lot of friends. And its new

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<v Speaker 3>friend is st Micro. The STM Micro announced that they

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<v Speaker 3>will supply Amazon various semiconductors, including chips for connectivity and

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<v Speaker 3>energy efficient power, so kind of things that are going

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<v Speaker 3>to this massive data center build out where Amazon is

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<v Speaker 3>spending so much of that money. So those shares are

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<v Speaker 3>up seven percent in pre market. In exchange, Amazon gets

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<v Speaker 3>warrants to acquire st micro shares. Over seven years, st

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<v Speaker 3>micro was seen as lagging in the AI trade. This

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<v Speaker 3>is helped helping it kind of catch up to where

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<v Speaker 3>some of its competitors are seen. So say Infineon, for example,

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<v Speaker 3>we've seen as being a bit farther ahead. This is

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<v Speaker 3>seen as helping stm micro catch up.

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