Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 2: I'm Tim Keene with Paul Sweeni and Bloomberg's Alexis Christofers.
Speaker 3: It's a podcast no One does it better?
Speaker 1: Alexis, what do you?
Speaker 3: I'm going to start with a hot stock today, and
Speaker 3: it is in the biopharma arena, Neuvalent, based there in Cambridge, Massachusetts.
Speaker 3: It's a cancer drug company up thirty eight percent. So
Speaker 3: it's being bought out by the UK pharma company GSK
Speaker 3: for ten point six billion dollars. This is about one
Speaker 3: hundred and twenty four dollars a share in cash, and
Speaker 3: it's a forty percent premium over Aneuvalent's closing price on Monday.
Speaker 3: So what does this do for GSK? It secures them
Speaker 3: a US biotech firm with development treatments for that that's
Speaker 3: developing treatments for lung cancer. It's an area js key
Speaker 3: is looking to get into. And they're also trying to
Speaker 3: offset the patent expiration of a popular HIV drug, so
Speaker 3: they're you know, buying up and doing some of these
Speaker 3: smaller deals. Wall Street didn't think it was too small though,
Speaker 3: and actually they think it may be a little bit rich.
Speaker 3: At ten point six billion dollars shares of j GSK.
Speaker 3: By the way, we're down about two percent earlier, but
Speaker 3: now they're a little change, so they've come back quite
Speaker 3: a bit. Two of the three medicines that GSK is
Speaker 3: acquiring are in their late stage trials. The FDA expected
Speaker 3: to decide on approval later this year. They said they
Speaker 3: could both be blockbuster medicines when it comes to lung
Speaker 3: cancer treatment.
Speaker 2: Good, how quaint.
Speaker 1: It's not semiconductor now exactly, little healthcare exactly.
Speaker 3: All right, let's move on to JM. Smucker because you've
Speaker 3: got to get a little food here.
Speaker 1: Orville, Ohio. Not sure where Orville is, but it sounds MIDI.
Speaker 3: Is that where Orville Reddenboxers? Oh?
Speaker 1: I don't know. Let me just google a chair, all right.
Speaker 3: S JM is the ticker symbol up four point seven
Speaker 3: percent makes jelly, yes, we know, but also a whole
Speaker 3: bunch of other things, including coffee, And that's one of
Speaker 3: the reasons why sales were so strong fourth quarter profits
Speaker 3: and sales beating the street. But you know what, not
Speaker 3: because they necessarily sold more. So it's not because of volume,
Speaker 3: it's because they rose, They raised their prices, and we
Speaker 3: paid more for these things. So sales volume actually decreased
Speaker 3: for Duncan and Folger's brands, but increased for Cafe Bustello.
Speaker 3: Cafe Bustello.
Speaker 1: Yeah.
Speaker 3: When I was growing up in the city and went
Speaker 3: to high school, had a best friend would go to
Speaker 3: her house or a mother's Spanish and they always from Spain,
Speaker 3: and they always had Cafe Bustello in the house and
Speaker 3: I loved it. And I said, mom, they're so cool
Speaker 3: in hip and we have to get Cafe Bustello. When
Speaker 3: she looked at me and said, you know, we're sticking with.
Speaker 1: You, like I mean, Sarah, you're killing me out. On YouTube,
Speaker 1: she had images of incrustables.
Speaker 3: So my first email, you know how you do like
Speaker 3: employee email? Yeah yeah, And I'm like, yeah whatever, And
Speaker 3: so like page four my evail, they go, what does
Speaker 3: Bloomberg need? And I said, incrustables in the food court? Yep. Well,
Speaker 3: and I keep asking every year and I have cheeses.
Speaker 2: That's good that I have cheeses.
Speaker 3: May well, they helped JM. Smucker's bottom line, but like
Speaker 3: other packaged food companies, they're contending with you know, consumers
Speaker 3: who are changing their eating habits. They're financially strapped. So
Speaker 3: the company said it's working on ways to cut costs
Speaker 3: and also stabilize the Hostess brand, which it bought just
Speaker 3: a few years ago. Stabilized, I personally stabilize the Hostess
Speaker 3: look out. All right, let's move on up the mountain
Speaker 3: to Veil Resorts ticker symbol MT and guess what you
Speaker 3: need to make money.
Speaker 1: If you're a ski resort snow?
Speaker 3: I think so. And they didn't have it. They didn't
Speaker 3: have it this past winner. So Veil Resort says next
Speaker 3: season's pass sales are already down. Yeah, because of a
Speaker 3: challenging year, especially out West Colorado, Utah. Really tough time.
Speaker 2: I would say I was.
Speaker 1: I was at at Aspen this year. The past twenty years,
Speaker 1: snow has been great out West, but last year was
Speaker 1: a bad year. And it happens, but I'm not sure
Speaker 1: it's a trend. And people complain about Veil they're so corporate, corporate, corporate,
Speaker 1: But all I know is they invest tons of money
Speaker 1: into their resorts, and it's they do a great job,
Speaker 1: I think. And so I know people say, oh, it's
Speaker 1: a big corporate ski but yeah, but you have to
Speaker 1: invest so much money in these places and they do
Speaker 1: so I don't know. I think they do a good jobs.
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