1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg data. 4 00:00:17,480 --> 00:00:19,159 Speaker 3: Let's take a look at some of the stocks on 5 00:00:19,200 --> 00:00:22,000 Speaker 3: the move today. I'm Lis Matteo. We're joined by Bloomberg's 6 00:00:22,360 --> 00:00:25,520 Speaker 3: Valerie ty Tel now Valor. It looks like it's take 7 00:00:25,600 --> 00:00:27,880 Speaker 3: private Monday. Why is that? Yeah? 8 00:00:27,920 --> 00:00:32,000 Speaker 1: Look, we've had two, I guess reported take private deals. 9 00:00:32,000 --> 00:00:34,440 Speaker 1: One of them has been confirmed in that's soho House 10 00:00:34,920 --> 00:00:37,440 Speaker 1: going private at nine dollars a share. We're seeing the 11 00:00:37,560 --> 00:00:40,840 Speaker 1: likes of the share trade sixteen percent higher to eight 12 00:00:41,000 --> 00:00:43,840 Speaker 1: dollars in eighty eight cents in share, so very close 13 00:00:44,120 --> 00:00:46,880 Speaker 1: to that nine dollars a share mark. The deal implies 14 00:00:46,920 --> 00:00:50,839 Speaker 1: a total enterprise value for this private members club to 15 00:00:50,840 --> 00:00:54,560 Speaker 1: two point seven billion dollars. Investors and key shareholders have 16 00:00:54,560 --> 00:00:57,880 Speaker 1: actually been pushing for this move since late last year, 17 00:00:57,920 --> 00:01:01,320 Speaker 1: after the shares swamped after its IPO in twenty twenty one. 18 00:01:01,560 --> 00:01:04,520 Speaker 1: It actually ipo'd at fourteen dollars a share, so still 19 00:01:04,840 --> 00:01:07,959 Speaker 1: significantly under that IPO price back in twenty twenty one. 20 00:01:08,160 --> 00:01:11,520 Speaker 1: Apollo Global Management was central to the deal. According to 21 00:01:11,560 --> 00:01:13,520 Speaker 1: people familiar with the matter, as the Wall Street Journal 22 00:01:13,640 --> 00:01:16,480 Speaker 1: is reporting providing more than seven hundred million dollars in 23 00:01:16,520 --> 00:01:18,000 Speaker 1: equity and debt financing. 24 00:01:18,160 --> 00:01:19,319 Speaker 3: And the other one Toma Bravo. 25 00:01:20,120 --> 00:01:23,280 Speaker 1: Toma Bravo, this is the buyout firm is planning to 26 00:01:23,400 --> 00:01:26,960 Speaker 1: take software firm day Force private. This is a human 27 00:01:27,040 --> 00:01:30,120 Speaker 1: resource management software provider. We're seeing the likes of the 28 00:01:30,160 --> 00:01:33,920 Speaker 1: share jump nearly twenty nine percent in pre market trade. 29 00:01:33,920 --> 00:01:36,640 Speaker 1: The deal could be announced as soon as the coming weeks. 30 00:01:36,680 --> 00:01:39,520 Speaker 1: According to sources speaking to Bloomberg, day Force is down 31 00:01:39,560 --> 00:01:42,640 Speaker 1: about sixty percent since its twenty twenty one highs and 32 00:01:42,680 --> 00:01:45,760 Speaker 1: while the company has increased its revenue and become profitable, 33 00:01:46,000 --> 00:01:50,760 Speaker 1: the enterprise software market has been very difficult to navigate 34 00:01:50,800 --> 00:01:53,000 Speaker 1: since covid. It was valued at eight point four billion 35 00:01:53,040 --> 00:01:55,440 Speaker 1: dollars as of Friday's closed and is adding to that 36 00:01:55,480 --> 00:01:58,760 Speaker 1: pretty significantly. So far this morning, day Force up twenty 37 00:01:59,280 --> 00:02:02,440 Speaker 1: nine percent on a report of a take private by 38 00:02:02,440 --> 00:02:03,080 Speaker 1: Toma Bravo. 39 00:02:03,240 --> 00:02:06,080 Speaker 3: All right, so another trend, you're seeing FDA approvals. They're 40 00:02:06,080 --> 00:02:07,960 Speaker 3: pushing up gaids in some pharmaceutical companies. 41 00:02:08,120 --> 00:02:10,680 Speaker 1: Yeah, the big one being Nova Nordisk up three percent 42 00:02:10,880 --> 00:02:14,240 Speaker 1: in pre market trade on FDA approval for liver disease. 43 00:02:14,280 --> 00:02:17,160 Speaker 1: This would be using the company's blockbuster weight loss drug 44 00:02:17,200 --> 00:02:21,000 Speaker 1: we Goov, getting approval to treat a serious form of 45 00:02:21,040 --> 00:02:23,160 Speaker 1: liver disease. And the important thing about this is they 46 00:02:23,160 --> 00:02:26,200 Speaker 1: are now beating their rival Eli Lilly to the US 47 00:02:26,240 --> 00:02:29,079 Speaker 1: market to treat liver disease. Now using we go v 48 00:02:29,280 --> 00:02:31,680 Speaker 1: can help treat scar tissue on the liver, with the 49 00:02:31,760 --> 00:02:34,880 Speaker 1: drug reversing some liver damage. And after a tough start 50 00:02:34,960 --> 00:02:37,680 Speaker 1: to the year, this is a welcome upside surprise for 51 00:02:37,760 --> 00:02:41,120 Speaker 1: Novo Nordisk. This is the actually second positive catalyst for 52 00:02:41,280 --> 00:02:44,239 Speaker 1: the Danish pharma company this month. That comes after its 53 00:02:44,320 --> 00:02:47,960 Speaker 1: main rival, Eli Lilly's weight loss pill showed some weakness 54 00:02:48,000 --> 00:02:50,440 Speaker 1: around its efficacy in a clinical trial earlier. So it's 55 00:02:50,480 --> 00:02:52,640 Speaker 1: Novo Nordisk of three percent so far this morning. 56 00:02:52,720 --> 00:02:54,400 Speaker 3: All right, valoring, but I need your help on this one. 57 00:02:54,440 --> 00:02:55,560 Speaker 3: Is it Tonics Pharma? 58 00:02:55,600 --> 00:02:59,600 Speaker 1: Tonics Pharma explained Tonics pharmah, No, this is another catalyst 59 00:02:59,639 --> 00:03:03,560 Speaker 1: of an f approval for its fibromyalgia drug. This is 60 00:03:03,919 --> 00:03:06,320 Speaker 1: the move in the pre market this morning. It's up 61 00:03:06,360 --> 00:03:09,080 Speaker 1: twelve percent LISA following a trading halt head of this 62 00:03:09,120 --> 00:03:12,160 Speaker 1: announcement on Friday. The drug is expected to be available 63 00:03:12,160 --> 00:03:14,440 Speaker 1: in the fourth quarter, and the shares are liking this 64 00:03:14,560 --> 00:03:17,360 Speaker 1: news of the FDA approval. That's Tonics Pharma of twelve 65 00:03:17,400 --> 00:03:18,880 Speaker 1: percent so far in pre market. 66 00:03:20,200 --> 00:03:24,320 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 67 00:03:24,440 --> 00:03:27,200 Speaker 2: us throughout the day for the latest roundup of companies 68 00:03:27,240 --> 00:03:30,280 Speaker 2: making news on Wall Street and for the latest market 69 00:03:30,320 --> 00:03:34,640 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 70 00:03:34,720 --> 00:03:37,960 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 71 00:03:38,040 --> 00:03:39,520 Speaker 2: the Bloomberg Business app.