WEBVTT -  Eli Lilly Gains, McCormick Rises, Allbirds Soars on American Exchange Deal

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market.

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<v Speaker 1>Harnessing the power of Bloomberg.

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<v Speaker 2>Data, Let's take a look at some of the stocks

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<v Speaker 2>on the move today. We can do that with Bloomberg's

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<v Speaker 2>but Donna Hirich as she joins us here in a

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<v Speaker 2>studio of Donna, what are you looking at?

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<v Speaker 3>Hi, good morning, thanks for having me. I'm looking at

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<v Speaker 3>shares of Eli Lilly. That's stick her l l Y

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<v Speaker 3>up some four percent today after the company agreed to

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<v Speaker 3>buy sleep drug maker sent Tessa Pharmaceuticals in a deal

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<v Speaker 3>worth up to seven point eight billion dollars. And this

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<v Speaker 3>is interesting to me because it's a sign that the

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<v Speaker 3>weight loss medication giant is really looking to bulk up

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<v Speaker 3>its treatment pipeline for other conditions. Lily said it will

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<v Speaker 3>pay thirty eight dollars a share for Sintessa, plus another

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<v Speaker 3>nine dollars a share if some milestone targets are met.

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<v Speaker 3>So really interesting to sort of keep track of what

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<v Speaker 3>the weight loss the companies that we know for weight

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<v Speaker 3>loss drugs are doing to stay competitive. Yeah, and sleep

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<v Speaker 3>is a huge business as well. Let's stay with the

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<v Speaker 3>M and A theme because you've got another name for us. Yes,

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<v Speaker 3>we were just talking about McCormick ticker MKC, which fell

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<v Speaker 3>as much as ten percent today in earlier trading, down

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<v Speaker 3>about six percent right now. And as we just heard,

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<v Speaker 3>Unilever did agree to combine its food business with the

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<v Speaker 3>spice maker in a forty five billion dollar deal that

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<v Speaker 3>will essentially create Global Seasonings, Sauces and Condiments company. We

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<v Speaker 3>know that big food businesses like Unilever have been struggling

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<v Speaker 3>in recent years to attract less wealthy consumers, sorry, to

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<v Speaker 3>attract a number of consumers in general, because we know

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<v Speaker 3>less wealthy consumers have been pulling back on spending and

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<v Speaker 3>choosing cheaper store brands.

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<v Speaker 4>I've been doing. I think you know a lot of

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<v Speaker 4>the products. It's fine sub products. I'm like, now I'm

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<v Speaker 4>going to go back to the naghbor Like what Planter's peanuts,

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<v Speaker 4>But the taste yep so, but everything a lot of

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<v Speaker 4>other stuff. I'm okay.

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<v Speaker 3>Luckily we have Planter's peanuts on at the Bloomberg Golfic.

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<v Speaker 2>Yes we do, Yes, we do that.

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<v Speaker 1>We know that.

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<v Speaker 4>So okay, here's something I never got into back the day.

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<v Speaker 4>But it's a thing all birds, all birds.

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<v Speaker 3>A lot of people got into it back in the day,

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<v Speaker 3>including my husband who bought so many pairs that we

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<v Speaker 3>have on like three untouched pairs in our various closets.

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<v Speaker 3>That's ticker b I r D, shares of which are

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<v Speaker 3>down some three percent right now after American Exchange Group

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<v Speaker 3>said it was agreeing to buy all of the assets

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<v Speaker 3>and intellectual property of the what we're calling a once

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<v Speaker 3>buzzy footwear brand, and that deal is worth some thirty

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<v Speaker 3>nine million dollars and the shoemaker said the deal is

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<v Speaker 3>expected to close in the second quarter. It still needs

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<v Speaker 3>shareholder approval. But it is interesting to me because it

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<v Speaker 3>had been known for, you know, being sort of a

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<v Speaker 3>popular footwear brand that maybe lost some of its module.

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<v Speaker 3>Silicon Valley guys really like those sheds, right. It was

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<v Speaker 3>the Marino wool sneakers. You could wash them, I think

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<v Speaker 3>you could the the you know, you could wash them.

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<v Speaker 3>And there was no structure to it. It was all

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<v Speaker 3>kind of just floppy.

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<v Speaker 2>Yes, very.

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