WEBVTT - Bristol-Myers Squibb Potential Merger; SpaceX to Report; Tyson Drops

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.520 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.079
<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

0:00:16.400 --> 0:00:18.360
<v Speaker 1>Take a look at some of the stocks on the

0:00:18.480 --> 0:00:21.639
<v Speaker 1>move today. We can do that with mister John Tucker, John, what.

0:00:21.680 --> 0:00:23.279
<v Speaker 3>Do you got for us? I let's start with the

0:00:23.400 --> 0:00:27.280
<v Speaker 3>country's largest meat packer, Tyson, once again soaring beast prices,

0:00:27.920 --> 0:00:33.680
<v Speaker 3>denting sales, annual adjusted operating income of two point one

0:00:33.760 --> 0:00:36.920
<v Speaker 3>billion to two point three billion for twenty twenty six.

0:00:37.320 --> 0:00:40.800
<v Speaker 3>So that's they've lowered the range there. This weaker outlook

0:00:40.800 --> 0:00:45.159
<v Speaker 3>suggests Tyson's efforts to reduce production capacity if you have

0:00:45.280 --> 0:00:49.960
<v Speaker 3>to really have any significant impact, Tyson has ceased operations

0:00:50.000 --> 0:00:53.400
<v Speaker 3>at the Nebraska beef plant. They cut output at a

0:00:53.440 --> 0:00:57.720
<v Speaker 3>Texas facility. This was supposed to cool competition for cattle

0:00:58.400 --> 0:01:01.600
<v Speaker 3>and improve their margins. Well, it hasn't shown up yet.

0:01:01.640 --> 0:01:06.080
<v Speaker 3>The lower guidance also comes despite some recent glimmers of hope,

0:01:06.360 --> 0:01:10.640
<v Speaker 3>including a plan resumption of cattle imports from Mexico. Also

0:01:10.680 --> 0:01:14.000
<v Speaker 3>signs that ranchers are beginning to rebuild their herds, But

0:01:14.080 --> 0:01:16.959
<v Speaker 3>again these developments they aren't likely to benefit packers for

0:01:17.040 --> 0:01:21.039
<v Speaker 3>some time. Tyson is now expended to post an adjusted

0:01:21.120 --> 0:01:24.720
<v Speaker 3>operating loss of five hundred million to six hundred and

0:01:24.720 --> 0:01:28.200
<v Speaker 3>fifty million dollars for the year, deeper than some of

0:01:28.200 --> 0:01:31.200
<v Speaker 3>the prior expectations. One Brice spot though.

0:01:31.840 --> 0:01:34.800
<v Speaker 1>The Chickens Chicken, So Big Chicken.

0:01:36.040 --> 0:01:40.080
<v Speaker 3>Astra Zeneca, of course in the news this morning exploring

0:01:40.120 --> 0:01:44.480
<v Speaker 3>an acquisition of Bristol Meyers Squib of Princeton, New Jersey.

0:01:44.920 --> 0:01:48.440
<v Speaker 3>According to our sources, potential mega deal could rank as

0:01:48.440 --> 0:01:51.920
<v Speaker 3>the largest ever in Farman and you got to wonder, like,

0:01:52.280 --> 0:01:54.360
<v Speaker 3>what are they going to say in the UK and

0:01:54.640 --> 0:01:57.960
<v Speaker 3>what are the regulators going to say here? The companies

0:01:57.960 --> 0:02:01.520
<v Speaker 3>have held early stage discussions about binding those, of course,

0:02:01.600 --> 0:02:05.120
<v Speaker 3>are two cancer powerhouses. It would form the world's biggest

0:02:05.200 --> 0:02:09.640
<v Speaker 3>drug maker with about one hundred and seven billion dollars

0:02:09.840 --> 0:02:14.440
<v Speaker 3>in annual revenue. Bristol Meyers Squib could provide Astro with

0:02:14.560 --> 0:02:17.880
<v Speaker 3>a bigger foothold in the US market. They're preparing for

0:02:17.960 --> 0:02:21.360
<v Speaker 3>the loss of patent protection for some of their biggest products,

0:02:21.360 --> 0:02:26.560
<v Speaker 3>including their blood thinner Eloquist. Last week, Bristol reported a

0:02:26.680 --> 0:02:31.320
<v Speaker 3>quarterly sales of thirteen billion dollars, its highest ever you'll

0:02:31.320 --> 0:02:37.800
<v Speaker 3>recall back in twenty twelve, Astra Zeneca fended off Peiser

0:02:38.840 --> 0:02:42.239
<v Speaker 3>takeover attempt there and the UK government had to get

0:02:42.240 --> 0:02:44.880
<v Speaker 3>involved over fears they'd lose one of their companies in

0:02:44.919 --> 0:02:45.320
<v Speaker 3>the UKA.

0:02:45.919 --> 0:02:47.840
<v Speaker 1>You know, you can't imagine these or at least I

0:02:47.840 --> 0:02:50.840
<v Speaker 1>can't imagine these two companies getting regulatory row approval. But

0:02:51.240 --> 0:02:54.320
<v Speaker 1>we're have an administration that is really open to some

0:02:54.360 --> 0:02:56.880
<v Speaker 1>of these mega deals. So maybe the time is now.

0:02:56.880 --> 0:02:58.520
<v Speaker 1>That's what we've been hearing from M and A bankers

0:02:58.520 --> 0:03:01.440
<v Speaker 1>that if you want a mega now is the time.

0:03:01.800 --> 0:03:05.680
<v Speaker 3>I don't know who would take this, the bankers behind

0:03:05.680 --> 0:03:07.840
<v Speaker 3>this deal. I mean, you got to imagine like they're

0:03:08.280 --> 0:03:12.560
<v Speaker 3>pressing for this because totally fee sure after the close

0:03:12.600 --> 0:03:15.480
<v Speaker 3>of regular trading tomorrow Isabelle SpaceX.

0:03:15.639 --> 0:03:19.119
<v Speaker 2>Yeah, I'm excited. I wonder if Elon mus will be there.

0:03:19.440 --> 0:03:20.799
<v Speaker 3>He has better be here.

0:03:21.440 --> 0:03:23.120
<v Speaker 1>That's the only reason people bought this doctor.

0:03:23.160 --> 0:03:26.400
<v Speaker 3>Yeah. I don't think the financials are gonna tomorrow are

0:03:26.400 --> 0:03:29.200
<v Speaker 3>going to matter as much as the commentary from from

0:03:29.240 --> 0:03:33.799
<v Speaker 3>Elon during the call. Anyway, they'll be listening for progress

0:03:33.880 --> 0:03:40.000
<v Speaker 3>with the Starship Mega Rocket, the availability of semiconductors, regulation

0:03:40.080 --> 0:03:44.040
<v Speaker 3>and shortages, of AI Resources. As you know, a lot

0:03:44.040 --> 0:03:48.400
<v Speaker 3>of institutional investors, they've they were sour on this to

0:03:48.480 --> 0:03:52.720
<v Speaker 3>begin with because, in part because of the unprecedented control

0:03:52.760 --> 0:03:56.320
<v Speaker 3>that Elon Musk has over SpaceX, they consider it a

0:03:56.320 --> 0:03:59.400
<v Speaker 3>little too risky to hold must sits on over eighty

0:03:59.440 --> 0:04:04.040
<v Speaker 3>percent of the voting rights companies chief executive, chief technical officer,

0:04:04.120 --> 0:04:07.280
<v Speaker 3>and the chairman. It's a setup that one pension fund

0:04:07.320 --> 0:04:12.840
<v Speaker 3>has called catastrophic. And then of course there's this just

0:04:12.880 --> 0:04:17.560
<v Speaker 3>a few days after earnings, the lockup ends, so regardless

0:04:17.560 --> 0:04:20.000
<v Speaker 3>of how good or bad the results are, at nine

0:04:20.400 --> 0:04:25.000
<v Speaker 3>eleven million shares are subject to the lockup will be released.

0:04:26.120 --> 0:04:30.120
<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

0:04:30.200 --> 0:04:32.760
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:32.839 --> 0:04:35.920
<v Speaker 2>making news on Wall Street and for the latest market

0:04:36.000 --> 0:04:40.440
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:40.560 --> 0:04:44.039
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:44.120 --> 0:04:45.599
<v Speaker 2>the Bloomberg Business app.