WEBVTT - Nuvalent Merger; Apple Skepticism; Applied Digital Deal

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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. Starting off

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<v Speaker 1>with the biggest upside mover in the pre market. You

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<v Speaker 1>cannot ignore what is happening with New Valent this morning,

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<v Speaker 1>Dan Happy Merger Tuesday.

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<v Speaker 3>Good morning morning, Nathan. That's right, Merger Tuesday, and New

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<v Speaker 3>Veland is at the core of it. Up thirty nine

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<v Speaker 3>percent in the pre market underticker and UVL that says

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<v Speaker 3>GSK is agreeing to buy the Cambridge, mass based biotech

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<v Speaker 3>company for one hundred and twenty four dollars a share.

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<v Speaker 3>Those shares are a one hundred and twenty three giver

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<v Speaker 3>take in pre market, so just very close to that

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<v Speaker 3>offer price. The British company is looking to rebuild its

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<v Speaker 3>cancer pipeline and GSK had return to that mark in

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<v Speaker 3>twenty nineteen. It has seen slow growth there, so it's

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<v Speaker 3>looking to Neuvalent to help expand that out. Neuvealent designs

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<v Speaker 3>precisely targeted oncologicals for patients, and it has two medicines

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<v Speaker 3>in late stage trials. The FDA is set to decide

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<v Speaker 3>on regulatory approval for both this year, and GSK says

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<v Speaker 3>those two treatments could be blockbusters if given the green light.

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<v Speaker 3>So this is a way for GSK to try to

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<v Speaker 3>get back into the cancer space.

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<v Speaker 1>Okay, So while we keep an eye on that massive

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<v Speaker 1>move for New Valen, we got to keep an eye

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<v Speaker 1>on Apple as well. After the kickoff of the Worldwide

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<v Speaker 1>Developers Conference. How our investors receiving that this morning, Dan.

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<v Speaker 3>They're still not convinced. Apple is down about three tenths

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<v Speaker 3>of a percent in pre market ticker AAPL. And that's right.

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<v Speaker 3>The company used yesterday's Worldwide Developer Conference to lay the

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<v Speaker 3>foundation for its new products, and the centerpiece was a

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<v Speaker 3>new operating systems. It's an overhauled assistant and they're calling

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<v Speaker 3>it Serie AI. This was a chance to push back

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<v Speaker 3>about some skepticism over Apple's AI offering. The company has

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<v Speaker 3>struggled to deliver many ambitious features on schedule and others

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<v Speaker 3>just fell short arrivals, like Open AI and anthropics products.

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<v Speaker 3>And off the back of this, we're seeing mixed analyst reviews.

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<v Speaker 3>You have Wedbush on one side, they're pretty bullish saying quote,

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<v Speaker 3>unveiled an AI strategy that will unleash the true monetization

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<v Speaker 3>opportunity end quote. But then you have something like Vital

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<v Speaker 3>Knowledge coming out and saying quote to the extent anyone

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<v Speaker 3>was hoping to be blown away by the updated Apple intelligence,

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<v Speaker 3>the Monday keynote was a disappointment end quote. So there's

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<v Speaker 3>a lot of mixed reviews on this and a lot

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<v Speaker 3>of the issue seems to be around timelines. This is

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<v Speaker 3>a long term strategy and the Wall Street is trying

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<v Speaker 3>to figure out how it will play out for the stock.

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<v Speaker 1>Well, it looks like there's a lot more conviction around

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<v Speaker 1>another stock that's part of the AI play that's Applied Digital,

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<v Speaker 1>with a big move this morning, Dan.

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<v Speaker 3>Up nearly eleven percent in the pre market APLD. Applied

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<v Speaker 3>Digital is a neo cloud company that's a fancy name

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<v Speaker 3>for a company that provides special specialized AI infrastruct sure

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<v Speaker 3>and it announced a new deal. It said signed a

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<v Speaker 3>fifteen year lease with a US based hyperscaler and the

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<v Speaker 3>deal is for two hundred and ten megawatts at its

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<v Speaker 3>Delta Forge two campus. That's five point two billion dollars

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<v Speaker 3>in base turm term revenue, and that could be up

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<v Speaker 3>to nearly thirteen billion dollars over thirty year return. This

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<v Speaker 3>is very interesting becoming because it comes at Delta Forge two,

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<v Speaker 3>which is not anticipated to open until about twenty twenty eight.

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<v Speaker 3>So this is a sign of strong demand. These hyperscalers

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<v Speaker 3>are booking out this platfor this can compute two years out.

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<v Speaker 3>That has other hyperscalers up. Core Weave up three percent,

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<v Speaker 3>Nebius up four percent in the pre market.

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<v Speaker 1>Just time to tell us how Veil Resorts is doing

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<v Speaker 1>after earnings.

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<v Speaker 3>Yeah, it's going down the slope this morning. Four percent

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<v Speaker 3>of bad joke, But the ski resort operator is cutting

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<v Speaker 3>its net income guidance for the full year company seas

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<v Speaker 3>twenty twenty six, even a decline of fourteen percent from

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<v Speaker 3>its original forecast issued in September. Historically challenging weather conditions.

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<v Speaker 3>Anyone who went out West, it was the worst snowfall

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<v Speaker 3>in a long long time. The resorts of the Rockies

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<v Speaker 3>saw twenty four percent dropping visits. That's really weighing on

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<v Speaker 3>the shares this morning.

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<v Speaker 2>This stockmover's report from Bloomberg Radio check back with us

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<v Speaker 2>throughout the day for the latest roundup of companies making

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<v Speaker 2>news on Wall Street, and for the latest market moving headlines.

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