WEBVTT - Nuvalent Deal; JM Smucker Reports; Vail Resorts Drops

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 2>I'm Tim Keene with Paul Sweeni and Bloomberg's Alexis Christofers.

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<v Speaker 3>It's a podcast no One does it better?

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<v Speaker 1>Alexis, what do you?

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<v Speaker 3>I'm going to start with a hot stock today, and

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<v Speaker 3>it is in the biopharma arena, Neuvalent, based there in Cambridge, Massachusetts.

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<v Speaker 3>It's a cancer drug company up thirty eight percent. So

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<v Speaker 3>it's being bought out by the UK pharma company GSK

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<v Speaker 3>for ten point six billion dollars. This is about one

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<v Speaker 3>hundred and twenty four dollars a share in cash, and

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<v Speaker 3>it's a forty percent premium over Aneuvalent's closing price on Monday.

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<v Speaker 3>So what does this do for GSK? It secures them

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<v Speaker 3>a US biotech firm with development treatments for that that's

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<v Speaker 3>developing treatments for lung cancer. It's an area js key

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<v Speaker 3>is looking to get into. And they're also trying to

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<v Speaker 3>offset the patent expiration of a popular HIV drug, so

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<v Speaker 3>they're you know, buying up and doing some of these

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<v Speaker 3>smaller deals. Wall Street didn't think it was too small though,

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<v Speaker 3>and actually they think it may be a little bit rich.

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<v Speaker 3>At ten point six billion dollars shares of j GSK.

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<v Speaker 3>By the way, we're down about two percent earlier, but

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<v Speaker 3>now they're a little change, so they've come back quite

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<v Speaker 3>a bit. Two of the three medicines that GSK is

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<v Speaker 3>acquiring are in their late stage trials. The FDA expected

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<v Speaker 3>to decide on approval later this year. They said they

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<v Speaker 3>could both be blockbuster medicines when it comes to lung

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<v Speaker 3>cancer treatment.

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<v Speaker 2>Good, how quaint.

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<v Speaker 1>It's not semiconductor now exactly, little healthcare exactly.

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<v Speaker 3>All right, let's move on to JM. Smucker because you've

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<v Speaker 3>got to get a little food here.

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<v Speaker 1>Orville, Ohio. Not sure where Orville is, but it sounds MIDI.

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<v Speaker 3>Is that where Orville Reddenboxers? Oh?

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<v Speaker 1>I don't know. Let me just google a chair, all right.

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<v Speaker 3>S JM is the ticker symbol up four point seven

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<v Speaker 3>percent makes jelly, yes, we know, but also a whole

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<v Speaker 3>bunch of other things, including coffee, And that's one of

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<v Speaker 3>the reasons why sales were so strong fourth quarter profits

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<v Speaker 3>and sales beating the street. But you know what, not

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<v Speaker 3>because they necessarily sold more. So it's not because of volume,

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<v Speaker 3>it's because they rose, They raised their prices, and we

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<v Speaker 3>paid more for these things. So sales volume actually decreased

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<v Speaker 3>for Duncan and Folger's brands, but increased for Cafe Bustello.

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<v Speaker 3>Cafe Bustello.

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<v Speaker 1>Yeah.

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<v Speaker 3>When I was growing up in the city and went

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<v Speaker 3>to high school, had a best friend would go to

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<v Speaker 3>her house or a mother's Spanish and they always from Spain,

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<v Speaker 3>and they always had Cafe Bustello in the house and

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<v Speaker 3>I loved it. And I said, mom, they're so cool

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<v Speaker 3>in hip and we have to get Cafe Bustello. When

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<v Speaker 3>she looked at me and said, you know, we're sticking with.

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<v Speaker 1>You, like I mean, Sarah, you're killing me out. On YouTube,

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<v Speaker 1>she had images of incrustables.

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<v Speaker 3>So my first email, you know how you do like

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<v Speaker 3>employee email? Yeah yeah, And I'm like, yeah whatever, And

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<v Speaker 3>so like page four my evail, they go, what does

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<v Speaker 3>Bloomberg need? And I said, incrustables in the food court? Yep. Well,

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<v Speaker 3>and I keep asking every year and I have cheeses.

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<v Speaker 2>That's good that I have cheeses.

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<v Speaker 3>May well, they helped JM. Smucker's bottom line, but like

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<v Speaker 3>other packaged food companies, they're contending with you know, consumers

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<v Speaker 3>who are changing their eating habits. They're financially strapped. So

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<v Speaker 3>the company said it's working on ways to cut costs

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<v Speaker 3>and also stabilize the Hostess brand, which it bought just

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<v Speaker 3>a few years ago. Stabilized, I personally stabilize the Hostess

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<v Speaker 3>look out. All right, let's move on up the mountain

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<v Speaker 3>to Veil Resorts ticker symbol MT and guess what you

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<v Speaker 3>need to make money.

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<v Speaker 1>If you're a ski resort snow?

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<v Speaker 3>I think so. And they didn't have it. They didn't

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<v Speaker 3>have it this past winner. So Veil Resort says next

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<v Speaker 3>season's pass sales are already down. Yeah, because of a

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<v Speaker 3>challenging year, especially out West Colorado, Utah. Really tough time.

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<v Speaker 2>I would say I was.

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<v Speaker 1>I was at at Aspen this year. The past twenty years,

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<v Speaker 1>snow has been great out West, but last year was

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<v Speaker 1>a bad year. And it happens, but I'm not sure

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<v Speaker 1>it's a trend. And people complain about Veil they're so corporate, corporate, corporate,

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<v Speaker 1>But all I know is they invest tons of money

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<v Speaker 1>into their resorts, and it's they do a great job,

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<v Speaker 1>I think. And so I know people say, oh, it's

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<v Speaker 1>a big corporate ski but yeah, but you have to

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<v Speaker 1>invest so much money in these places and they do

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<v Speaker 1>so I don't know. I think they do a good jobs.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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