WEBVTT - Fiserv Climbs; Crinetics Soars; SpaceX Rating

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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 stocks on the move today.

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<v Speaker 2>I'm Tim Keen with Paul Sweeney and Bloomberg's Alexis Christophers.

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<v Speaker 3>If you want to take a look at some stocks

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<v Speaker 3>on the move today, We've got five Serve up four

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<v Speaker 3>and a half percent after The Wall Street Journal reported

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<v Speaker 3>that big Wall Street banks have held preliminary talks about

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<v Speaker 3>a deal to acquire a debit network owned by the

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<v Speaker 3>financial technology company. That's because owning a network can mean

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<v Speaker 3>exemption from a federal law that caps debit card fees. Still,

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<v Speaker 3>no certainty of deal here is going to happen. The

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<v Speaker 3>Journal reports several of the banks that looked at the

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<v Speaker 3>Pfiserve network have already decided it would be unlikely for

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<v Speaker 3>them to move forward. Nevertheless, though, we have got shares

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<v Speaker 3>of Pfiser hire this morning. Also on the move, speaking

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<v Speaker 3>of higher shares of Kreinetics Pharmaceuticals up nine twenty nine percent.

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<v Speaker 3>This is after Vertex Pharmaceuticals agree to buy the endochronology

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<v Speaker 3>company for ten billion dollars in cash. That works out

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<v Speaker 3>to about eighty five dollars a share, and at that

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<v Speaker 3>price it's a one hundred and two percent premium to

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<v Speaker 3>where Creinetic stock closed yesterday, and it is a big

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<v Speaker 3>day for SpaceX. That stock is joining the Nasdaq one

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<v Speaker 3>hundred still has to wait about a year to join

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<v Speaker 3>the S and P five hundred. Also, Wall Street pretty

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<v Speaker 3>bullish on SpaceX. At least six brokers, including Goldman, Sax,

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<v Speaker 3>Morgan Stanley, and Ubs, have initiated coverage with the equivalent

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<v Speaker 3>of a buy rating. Morgan Stanley's price target of six

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<v Speaker 3>hundred dollars is the highest on Wall Street and implies

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<v Speaker 3>an eighty seven percent gain in the stock price. Guy so,

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<v Speaker 3>big day for space.

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<v Speaker 1>Acc the Stock Movers report from Bloomberg Radio. Check back

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<v Speaker 1>with us throughout the day for the latest roundup of

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<v Speaker 1>companies making news on Wall Street and for the latest

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<v Speaker 1>market moving headlines. Listen to Bloomberg Radio Live, catch us

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<v Speaker 1>Auto with the Bloomberg Business app. Mm hmm