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 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis, starting off
Speaker 1: with some merger Monday news. I think we could say
Speaker 1: in the pharma space, Dan, is that right?
Speaker 3: Good morning, Good morning, Nathan. That's right. We have news
Speaker 3: that Eli Lilly ticker Lly is buying Ajax Therapeutics. We're
Speaker 3: up to two point three billion dollars in cash. That
Speaker 3: has shares of Eli Lily up about two tenths of
Speaker 3: a percent in pre market. Ajax Therapeutics is a private
Speaker 3: company the deal has. The deal is for Ajax, which
Speaker 3: has a treatment in phase one clinical trial which is
Speaker 3: used to treat a group of rare blood cancers, and
Speaker 3: proof of concept data behind this is expected later this year.
Speaker 3: The details are still emerging, but it looks like it's
Speaker 3: an upfront payment plus edition payments for clinical and regulatory
Speaker 3: milestones that Ajax may hit. So that giving Eli Lilly
Speaker 3: a little bit of a light pop early trading.
Speaker 1: Okay, So along with the M and A news, We're
Speaker 1: expecting a whole lot of news this week on the
Speaker 1: earnings front. This morning we heard from Domino's Pizza. Did
Speaker 1: they deliver Dan?
Speaker 3: Well, they're cooling off in pre market, so now I
Speaker 3: guess they missed their delivery target. First quarter top and
Speaker 3: bottom line missed estimates. US same store sales growth was
Speaker 3: zero point nine percent, with analysts expecting a two point
Speaker 3: six percent expansion. That is weighing on shares trading under
Speaker 3: ticker DPZ. Those are down four percent in the pre market.
Speaker 3: International growth was also weak. It unexpectedly saw a fall
Speaker 3: of zero point four expen zero point four percent. They
Speaker 3: are looking for growth there. The CEO noted that the
Speaker 3: pizza chain is facing an intensifying macro and competitive environment,
Speaker 3: and we're waiting for details on guidance during the call.
Speaker 3: Analysts expect Dominoes to cut its full year outlook as
Speaker 3: it relies more heavily than rivals on lower income consumers
Speaker 3: who are feeling the squeeze from the energy shocks.
Speaker 1: Okay, well, one of the biggest gainers pre market is Qualcom.
Speaker 1: What's going on with them?
Speaker 3: Yeah, ticker q com is up over eleven percent in
Speaker 3: the pre market. That's after a Business Standard report says
Speaker 3: Open ai is reportedly collaborating with Media Tech and Qualcom
Speaker 3: to develop an AI focused mobile phone. The report cites
Speaker 3: TF international security analyst mingchi Quo. Qualcom would reportedly be
Speaker 3: involved in making the processors for this phone, and quote
Speaker 3: says that current phones are constrained by system level permission
Speaker 3: by iPhone and Android. Basically, developing a phone would give
Speaker 3: the AI system direct access without being restrained by the
Speaker 3: phone maker's rule. So sounds like an aiphone is at
Speaker 3: least being considered.
Speaker 1: Oh wow, some so even more AI development here and
Speaker 1: even bigger gain this morning for Oragonon. Is that how
Speaker 1: you pronounce this one, Dan.
Speaker 3: I'm saying Organon. Mom is from organ So that might
Speaker 3: just be why the tickers ogn regardless of however you
Speaker 3: say the company and name, and those shares are up
Speaker 3: sixteen percent in pre market as Indian company Sun Pharmaceutical
Speaker 3: is acquiring the women's healthcare company. The US company will
Speaker 3: be bought for fourteen dollars per share in cash. That's
Speaker 3: nearly a fourteen billion dollar deal, and that deal is
Speaker 3: expected to close early next year. Organon's flagship products include
Speaker 3: a contraceptive implant and a fertility stimulation drug, and the
Speaker 3: news of this potential type was out a few weeks ago.
Speaker 3: There's been some back and forth over the last few weeks,
Speaker 3: so we finally have news that this deal is going forward.
Speaker 1: Now you're closing us out here with a decliner. What's
Speaker 1: behind the fall for ge Veranova this morning?
Speaker 3: Yeah, perry By is downgrading the power equipment company to
Speaker 3: neutral from buy. That has shares down about two percent
Speaker 3: in pre market. The BNP perry Boss sees growth momentum
Speaker 3: hard to sustain as ninety percent of turbine capacity is
Speaker 3: already contracted through twenty thirty. In order to keep the
Speaker 3: true directory, companies would have to book projects not yet
Speaker 3: approved or backstop by power purchase agreement, so that far
Speaker 3: out there's a little bit less see through it to
Speaker 3: where the growth could come from. BNP Parabod does know
Speaker 3: it's not a bear case though.
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