WEBVTT - PayPal Sinks, BioNTech Drops, Gap Soars as Outlook Raised

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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 data.

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

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<v Speaker 2>the move today.

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<v Speaker 1>We can do that with Avalon Purnell, equities reporter for

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<v Speaker 1>Bloomberg News. Avalon, what are you looking at these days?

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<v Speaker 2>We have to start off with BioNTech. That is ticker BNTX.

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<v Speaker 2>Those ADRs currently slumping about 7.3%. Most intraday since March.

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<v Speaker 2>And that's after the biotech discontinued a mid-stage trial of

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<v Speaker 2>its personalized cancer vaccine to treat colorectal cancer. This news

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<v Speaker 2>is also sending shares of Merck and Moderna lower, despite

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<v Speaker 2>them actually having positive data earlier this month for their

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<v Speaker 2>personalized vaccine to treat skin cancer. And, I mean, we've

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<v Speaker 2>been seeing many of these companies just becoming household names

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<v Speaker 2>during the pandemic and now trying to find new ways

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<v Speaker 2>to monetize this technology. BMO actually noting that the trial

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<v Speaker 2>termination obviously is a clear setback. However, they're highlighting that

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<v Speaker 2>investors are definitely going to be raising questions about whether

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<v Speaker 2>this vaccine-induced immune responses can actually prevent the recurrence of cancer.

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<v Speaker 2>And that is definitely going to be a big question

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<v Speaker 2>going forward.

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<v Speaker 1>Wow.

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<v Speaker 2>What else are you looking at, Avalon? PayPal, that's ticker P-Y-P-L,

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<v Speaker 2>currently dropping about 12% most intraday since February. And that's

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<v Speaker 2>after Bloomberg exclusively reports that a consortium, a buyout firm, Advent,

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<v Speaker 2>and also Stripe, decided to abandon its pursuit of the

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<v Speaker 2>fintech firm. The group previously offering more than $ 50 billion

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<v Speaker 2>for PayPal, according to those people familiar. KBW actually noting

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<v Speaker 2>that it isn't too surprising that PayPal decided to pass,

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<v Speaker 2>given they probably wanted to get the company for a

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<v Speaker 2>fairly cheap valuation. But that analyst still continues to see

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<v Speaker 2>PayPal as an attractive M &amp; A target that we

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<v Speaker 2>should keep in mind for PayPal. the next couple of months.

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<v Speaker 1>Yeah, I just didn't see these buyers as really that

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<v Speaker 1>credible given the market cap here we were talking about.

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<v Speaker 2>Okay, one more.

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<v Speaker 1>Gap.

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<v Speaker 2>That's ticker Gap. Got it. Currently soaring about 14% most

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<v Speaker 2>intraday since 2024. And that's after the clothing retailer boosted

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<v Speaker 2>its profit and adjusted gross margin outlooks for the year.

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<v Speaker 2>The company also named an industry vet to head up

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<v Speaker 2>Old Navy, which is spurring a lot of positive sentiment

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<v Speaker 2>across the street as well. Barclays highlighting that the second

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<v Speaker 2>quarter results already show Gap's brand momentum and also some

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<v Speaker 2>sequential improvement at Old Navy. Worth noting that we've been

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<v Speaker 2>seeing a lot of them leaning into the celebrity and

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<v Speaker 2>influencer advertising in recent quarters with Cardi B being the

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<v Speaker 2>head of Old Navy's denim campaign and also popular musicians

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<v Speaker 2>like Cat's Eye and Young Miko sporting Gap products as

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<v Speaker 2>well in their music videos. So definitely something we're going

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<v Speaker 2>to be keeping an eye on as they try to

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<v Speaker 2>lean further into the Gen Z.

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<v Speaker 1>The Stock Movers Report from Bloomberg Radio. Check back with

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