1 00:00:02,520 --> 00:00:08,640 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:16,600 --> 00:00:18,520 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,520 --> 00:00:21,560 Speaker 1: I'm Nathan Hager, joined by Bloomberg Stan Curtis, fresh off 6 00:00:21,600 --> 00:00:25,880 Speaker 1: a red headline crossing the Bloomberg terminal on merger Wednesday. 7 00:00:26,600 --> 00:00:31,200 Speaker 1: Merk is buying Turns Pharmaceuticals. Now we have to watch Turns. 8 00:00:31,480 --> 00:00:32,400 Speaker 1: Good morning, Dan. 9 00:00:32,880 --> 00:00:36,479 Speaker 3: Good morning. That's right, Nathan. Turns shares trading Undertick or 10 00:00:36,520 --> 00:00:39,559 Speaker 3: teer n are up five percent in the pre market, 11 00:00:39,760 --> 00:00:42,120 Speaker 3: as New Jersey based Merk has agreed to buy that 12 00:00:42,760 --> 00:00:45,960 Speaker 3: company for fifty three dollars a share, So those shares 13 00:00:46,000 --> 00:00:48,240 Speaker 3: in the pre market are at fifty two dollars sixty cents. 14 00:00:48,240 --> 00:00:50,839 Speaker 3: They had been trading above fifty seven dollars earlier in 15 00:00:50,840 --> 00:00:54,120 Speaker 3: the morning on previous reports of the deal, but that 16 00:00:54,160 --> 00:00:56,160 Speaker 3: report lacked a price that we now have that fifty 17 00:00:56,200 --> 00:00:59,120 Speaker 3: three dollars share a price coming in that's brought them 18 00:00:59,160 --> 00:01:01,880 Speaker 3: down a little bit pre market, still up off this deal. 19 00:01:02,240 --> 00:01:06,000 Speaker 3: The overall deal gives Turns an equity value of about 20 00:01:06,040 --> 00:01:09,120 Speaker 3: six point seven billion dollars and the deal is expected 21 00:01:09,120 --> 00:01:12,480 Speaker 3: to close by July. Turn is developing a therapy for 22 00:01:12,520 --> 00:01:15,640 Speaker 3: a type of blood cancer which showed positive results where 23 00:01:15,720 --> 00:01:17,280 Speaker 3: previous treatments had struggled. 24 00:01:18,360 --> 00:01:21,200 Speaker 1: Okay, so off the back of the merger news, I 25 00:01:21,200 --> 00:01:23,679 Speaker 1: don't know if we can call this a deal for ARM, 26 00:01:24,000 --> 00:01:27,319 Speaker 1: but it does look like it's dealing in itself in 27 00:01:27,360 --> 00:01:27,720 Speaker 1: a way. 28 00:01:28,360 --> 00:01:31,640 Speaker 3: Yeah, it's some forward progress for the chip designer. It's 29 00:01:31,720 --> 00:01:35,680 Speaker 3: going to be selling its own chips. That has ARM 30 00:01:35,800 --> 00:01:39,920 Speaker 3: ticker ARM up nearly fourteen percent in the pre market. 31 00:01:40,319 --> 00:01:43,120 Speaker 3: ARM is going to call the new chip AGICPU and 32 00:01:43,200 --> 00:01:46,840 Speaker 3: has lined up Meta as its first major customer. It 33 00:01:46,959 --> 00:01:50,960 Speaker 3: sees the chip generating fifteen billion dollars annually in the 34 00:01:51,000 --> 00:01:54,520 Speaker 3: next five years. That's compared to the company's total sales 35 00:01:54,600 --> 00:01:58,360 Speaker 3: of just four billion dollars last year. CEO Reneeja said 36 00:01:58,360 --> 00:02:01,000 Speaker 3: the company is making the chip because customers have asked 37 00:02:01,000 --> 00:02:04,800 Speaker 3: for it, and ARM has been moving from smartphone focus 38 00:02:05,000 --> 00:02:07,440 Speaker 3: to get all in on the data center. So that's 39 00:02:07,440 --> 00:02:08,760 Speaker 3: stock benefiting this morning. 40 00:02:08,960 --> 00:02:11,680 Speaker 1: Okay, certainly a big deal there for ARM and Metal platforms, 41 00:02:12,520 --> 00:02:16,480 Speaker 1: not just deal news this morning. Still have some earnings news. 42 00:02:16,960 --> 00:02:20,120 Speaker 1: Tell us what we heard from Braisee. 43 00:02:19,919 --> 00:02:23,760 Speaker 3: Ticker b RZE. Company is braise Those shares are up 44 00:02:23,800 --> 00:02:26,480 Speaker 3: over twenty percent in the pre market today. As the 45 00:02:26,480 --> 00:02:30,320 Speaker 3: cloud based customer relationship manager that does have a marketing 46 00:02:30,360 --> 00:02:34,240 Speaker 3: twist forecast did first quarter revenue of over two hundred 47 00:02:34,240 --> 00:02:37,840 Speaker 3: million dollars. The street was expecting a level below that. 48 00:02:37,840 --> 00:02:40,280 Speaker 3: That comes on the bath back of a fourth quarter 49 00:02:40,320 --> 00:02:43,960 Speaker 3: sales beat, but adjusted earnings for that period fell short. 50 00:02:44,200 --> 00:02:47,400 Speaker 3: The company says it has launched new AI products ahead 51 00:02:47,440 --> 00:02:50,440 Speaker 3: of schedule and that helped fourth quarter bookings grow fifty 52 00:02:50,480 --> 00:02:53,359 Speaker 3: percent from a year prior, helping to boost that those shares. 53 00:02:53,400 --> 00:02:56,160 Speaker 1: This morning, I gotta say one of the most actively 54 00:02:56,200 --> 00:02:58,919 Speaker 1: traded stocks in the pre market this morning is Intel. 55 00:02:59,320 --> 00:03:01,040 Speaker 1: What's going on with chip maker this morning? 56 00:03:01,520 --> 00:03:04,480 Speaker 3: That's right. Nick A is reporting that Intel and AMD 57 00:03:04,680 --> 00:03:07,960 Speaker 3: have told clients of CPU price hikes this month within 58 00:03:08,000 --> 00:03:10,720 Speaker 3: a month or so. That has both those shares up. 59 00:03:10,800 --> 00:03:13,720 Speaker 3: Intel i NTC up three percent in the pre market. 60 00:03:13,760 --> 00:03:17,560 Speaker 3: AMD is up just under two percent in the pre market. 61 00:03:17,760 --> 00:03:20,160 Speaker 3: This comes amid a supply crunch and this is a 62 00:03:20,200 --> 00:03:23,400 Speaker 3: potential weight on the PC and server makers. This is 63 00:03:23,440 --> 00:03:26,720 Speaker 3: compounding on top of the memory chip shortage as parts 64 00:03:26,880 --> 00:03:29,440 Speaker 3: for the AI data center buildouts are in high demand. 65 00:03:29,760 --> 00:03:32,880 Speaker 3: That's making all the chip makers all and after the 66 00:03:32,880 --> 00:03:35,480 Speaker 3: memory makers raise their prices for their customers. 67 00:03:36,640 --> 00:03:40,680 Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with 68 00:03:40,760 --> 00:03:43,320 Speaker 2: us throughout the day for the latest roundup of companies 69 00:03:43,400 --> 00:03:46,520 Speaker 2: making news on Wall Street and for the latest market 70 00:03:46,560 --> 00:03:51,000 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 71 00:03:51,120 --> 00:03:54,600 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 72 00:03:54,680 --> 00:03:56,160 Speaker 2: the Bloomberg Business app.