1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,520 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,440 --> 00:00:17,840 Speaker 2: Let's take a look at some of the stocks on 5 00:00:17,880 --> 00:00:20,439 Speaker 2: the move today on Paul Sweeney alongside Scarlo Fup, and 6 00:00:20,520 --> 00:00:22,800 Speaker 2: we're joined by Bloomberg's Lis Matteo. Lisa. What are looking 7 00:00:22,800 --> 00:00:23,159 Speaker 2: at it? All? Right? 8 00:00:23,160 --> 00:00:26,960 Speaker 3: So we're starting with Sedari Therapeutics ticker CDTX. There shares 9 00:00:27,000 --> 00:00:29,000 Speaker 3: a bit up more than one hundred percent. This is 10 00:00:29,040 --> 00:00:32,080 Speaker 3: basically a biotech company developing a flu treatment. The big 11 00:00:32,120 --> 00:00:34,239 Speaker 3: news behind it though Merk agreed to buy it. It's 12 00:00:34,280 --> 00:00:36,080 Speaker 3: going to pay about two hundred and twenty one dollars 13 00:00:36,159 --> 00:00:39,000 Speaker 3: fifty cents a share in cash. Total transaction value about 14 00:00:39,080 --> 00:00:41,680 Speaker 3: nine point two billion. But the thing is MRK they've 15 00:00:41,720 --> 00:00:43,720 Speaker 3: been trying to kind of make up for these upcoming 16 00:00:43,760 --> 00:00:46,519 Speaker 3: patent losses they have, especially it's cancer drug, key Truda, 17 00:00:47,000 --> 00:00:50,760 Speaker 3: that's their best selling drug in pharmaceutical history, account for 18 00:00:50,800 --> 00:00:52,680 Speaker 3: almost half of the company's revenue last year. 19 00:00:52,720 --> 00:00:54,000 Speaker 2: So this is a big thing for them. 20 00:00:54,400 --> 00:00:57,400 Speaker 3: It's preparing for patent losses expected to erode at sales 21 00:00:57,440 --> 00:00:59,840 Speaker 3: by eighteen billion over the next five years. So that's 22 00:00:59,840 --> 00:01:02,840 Speaker 3: a big number, and it's really looking to expand the 23 00:01:02,880 --> 00:01:06,480 Speaker 3: portfolio because you remember back in July, Merk agreed to 24 00:01:06,520 --> 00:01:10,319 Speaker 3: buy respiratory drug maker Barona Pharma for about ten billion dollars. 25 00:01:10,400 --> 00:01:12,640 Speaker 3: So it's just this trend of competitive deals in the 26 00:01:12,640 --> 00:01:15,440 Speaker 3: pharma industry. We're seeing it more and more. All right, 27 00:01:15,520 --> 00:01:19,160 Speaker 3: Number two on your list stub hub stub down as 28 00:01:19,240 --> 00:01:22,600 Speaker 3: much as twenty five percent, so they beat Wall Street's 29 00:01:22,600 --> 00:01:25,800 Speaker 3: expectations for a second quarter revenue. But the CEO here's 30 00:01:25,800 --> 00:01:28,600 Speaker 3: where things went around. He's also the founder, Eric Baker. 31 00:01:28,640 --> 00:01:31,200 Speaker 3: He said it's not giving guidance for the current quarter. 32 00:01:31,600 --> 00:01:34,520 Speaker 3: He said the company kind of takes a long term approach. 33 00:01:34,680 --> 00:01:36,880 Speaker 3: He said the timing of when tickets go on sale 34 00:01:36,880 --> 00:01:38,399 Speaker 3: can vary, so it makes it a little hard to 35 00:01:38,440 --> 00:01:41,960 Speaker 3: predict consumer demand. The company does plan to offer the 36 00:01:42,000 --> 00:01:44,720 Speaker 3: ALEC for twenty twenty six hundred port it's fourth quarter results, 37 00:01:44,720 --> 00:01:45,959 Speaker 3: so I guess I have to wait till then. But 38 00:01:46,319 --> 00:01:49,320 Speaker 3: this is the first time it quarterly results since it's 39 00:01:49,360 --> 00:01:52,480 Speaker 3: IPO in September, So I guess investors, we're just happy 40 00:01:52,520 --> 00:01:53,920 Speaker 3: with this view. I've heard of it. 41 00:01:53,960 --> 00:01:56,560 Speaker 2: I've done a billion IPOs in the day. Never has 42 00:01:56,600 --> 00:01:57,960 Speaker 2: this happened, because what you do is you go to 43 00:01:58,040 --> 00:02:00,320 Speaker 2: the company, say I want to know exactly where your 44 00:02:00,320 --> 00:02:02,800 Speaker 2: earnings are going to be at least one, if not 45 00:02:02,800 --> 00:02:05,240 Speaker 2: two quarters after the IQ so Mian analysts can come 46 00:02:05,240 --> 00:02:07,560 Speaker 2: in there and not do something, you know, put an 47 00:02:07,640 --> 00:02:09,399 Speaker 2: estimate that's in that you guys can meet or beat. 48 00:02:09,760 --> 00:02:13,560 Speaker 2: To have this happen is just inexcusable. I mean, oh 49 00:02:13,639 --> 00:02:14,120 Speaker 2: my goodness. 50 00:02:14,160 --> 00:02:15,120 Speaker 3: Yeah, they're not happy. 51 00:02:15,200 --> 00:02:17,600 Speaker 2: No wonder the stocks down twenty five percent. 52 00:02:17,919 --> 00:02:22,200 Speaker 3: And finally yes, Warner Brothers, Warner Brothers, Discovery, WBD they're 53 00:02:22,320 --> 00:02:24,120 Speaker 3: up as much as three percent. So there were a 54 00:02:24,120 --> 00:02:27,480 Speaker 3: few things right. You had the Wall Street Journal saying Powermount, Comcast, Netflix, 55 00:02:27,520 --> 00:02:30,239 Speaker 3: they're preparing their bids initial cut off to submit those 56 00:02:30,280 --> 00:02:33,160 Speaker 3: non binding first round bids by November twentieth, So that's 57 00:02:33,200 --> 00:02:35,240 Speaker 3: the first part of it. They say, Warner Brothers hopes 58 00:02:35,240 --> 00:02:36,600 Speaker 3: to have it all wrapped up by the end of 59 00:02:36,600 --> 00:02:38,480 Speaker 3: the year. And then you have the Bloomberg Report too 60 00:02:39,120 --> 00:02:42,120 Speaker 3: that Warner Broter's Discovery they amended the contract of its CEO, 61 00:02:42,240 --> 00:02:44,880 Speaker 3: David Zazov to kind of make sure his stock options 62 00:02:44,880 --> 00:02:48,520 Speaker 3: remain eligible to vest even if the company is sold. 63 00:02:48,600 --> 00:02:52,000 Speaker 3: His employment term also extended to December twenty twenty under 64 00:02:52,080 --> 00:02:55,639 Speaker 3: certain twenty thirty under certain conditions. Before that, it ran 65 00:02:55,760 --> 00:02:58,400 Speaker 3: through twenty twenty seven. So, I mean, you have the 66 00:02:58,400 --> 00:03:01,600 Speaker 3: companies in the battle for Warner Brothers, Discovery, Powermount apportently wants, 67 00:03:01,639 --> 00:03:05,040 Speaker 3: you know, the whole shebang, the whole entire company. Comcast, Netflix, 68 00:03:05,040 --> 00:03:08,520 Speaker 3: they're interested in, you know, the movie TV studios, HBO, Max, 69 00:03:09,320 --> 00:03:12,040 Speaker 3: not the cable though network hodling that they're not intercity 70 00:03:12,040 --> 00:03:14,520 Speaker 3: climbing business. Now yeah, oh right there. It still generates 71 00:03:14,520 --> 00:03:15,200 Speaker 3: a lot of cash. 72 00:03:15,560 --> 00:03:18,200 Speaker 2: Yeah, yeah, so you just have pe on it or 73 00:03:18,280 --> 00:03:20,239 Speaker 2: you just use just manage it for the cash flow, yeah, 74 00:03:20,280 --> 00:03:22,120 Speaker 2: and lever it up. But put all the debt on 75 00:03:22,160 --> 00:03:24,320 Speaker 2: that thing. What's interesting is Laura Martin from Needham Her 76 00:03:24,360 --> 00:03:26,400 Speaker 2: comment like, hey man, you got to take into President 77 00:03:26,400 --> 00:03:28,239 Speaker 2: trumpet will can here. Yeah, he's got to bless to 78 00:03:28,280 --> 00:03:31,720 Speaker 2: steal through the Federal Trade Commission, and he likes the Lions. Yeah, 79 00:03:31,760 --> 00:03:34,600 Speaker 2: and not so much the Roberts family compass. So that 80 00:03:34,639 --> 00:03:37,320 Speaker 2: plays into it politics politics. 81 00:03:38,480 --> 00:03:42,520 Speaker 1: This stock movers report from Bloomberg Radio. Check back with 82 00:03:42,600 --> 00:03:45,160 Speaker 1: us throughout the day for the latest roundup of companies 83 00:03:45,240 --> 00:03:48,320 Speaker 1: making news on Wall Street and for the latest market 84 00:03:48,360 --> 00:03:52,840 Speaker 1: moving headlines. Listen to Bloomberg Radio Live. 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