1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market. Harnessing the power of Bloomberg Data. 4 00:00:16,960 --> 00:00:18,880 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:18,920 --> 00:00:22,279 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Tytel as we 6 00:00:22,360 --> 00:00:24,840 Speaker 3: get ready to start a new trading week. It's not 7 00:00:24,960 --> 00:00:28,960 Speaker 3: exactly a merger Monday. In fact, it's a breakup Tuesday 8 00:00:29,040 --> 00:00:32,240 Speaker 3: for Craft Hines. Valerie, good morning. 9 00:00:32,240 --> 00:00:32,800 Speaker 2: Good morning. 10 00:00:32,880 --> 00:00:35,840 Speaker 1: Yes, Kraft Hines has announced they will split into two 11 00:00:35,880 --> 00:00:38,880 Speaker 1: separate public companies. We are seeing shares in the green, 12 00:00:38,960 --> 00:00:41,720 Speaker 1: but just marginally up a quarter of one percent. Kraft 13 00:00:41,800 --> 00:00:44,599 Speaker 1: Higns will be spinning out it's grocery products such as 14 00:00:44,640 --> 00:00:48,639 Speaker 1: Oscar Meyer and lunchables from its sauces and boxed meals 15 00:00:48,680 --> 00:00:51,760 Speaker 1: like Heinz Ketchup and Kraft Mac and Cheese. Now, this 16 00:00:51,840 --> 00:00:55,960 Speaker 1: announcement unwindes a forty six billion dollar merger that happened 17 00:00:56,320 --> 00:00:59,760 Speaker 1: around a decade ago that united these two iconic brands 18 00:00:59,760 --> 00:01:02,480 Speaker 1: and one of the largest food companies in the world. 19 00:01:02,480 --> 00:01:06,039 Speaker 1: But that merger happened before new forces began to reshape 20 00:01:06,080 --> 00:01:10,759 Speaker 1: America's shopping including a greater demand for healthier, less processed food. 21 00:01:10,800 --> 00:01:14,600 Speaker 1: So the merger has essentially been not as amicable as 22 00:01:14,640 --> 00:01:16,760 Speaker 1: they would have liked, and there has been some heavy 23 00:01:16,760 --> 00:01:19,640 Speaker 1: speculation in the media running up to this announcement, perhaps 24 00:01:19,720 --> 00:01:22,600 Speaker 1: explaining the lack of reaction today. But craft heind shares 25 00:01:22,600 --> 00:01:25,360 Speaker 1: are down around nine percent a year to date, so 26 00:01:25,400 --> 00:01:28,280 Speaker 1: they have been having issues with the broader market rising 27 00:01:28,600 --> 00:01:31,160 Speaker 1: around nine percent versus that, so crash lines in the 28 00:01:31,160 --> 00:01:32,920 Speaker 1: green up three tens of one percent. 29 00:01:32,720 --> 00:01:35,080 Speaker 3: So something of an end of an era there. Maybe 30 00:01:35,080 --> 00:01:39,000 Speaker 3: the bigger story this morning could be the continued sell 31 00:01:39,040 --> 00:01:42,440 Speaker 3: often in tech shares that we saw starting last Friday. 32 00:01:42,640 --> 00:01:45,759 Speaker 1: Yeah, Navidia is in the red for a fourth second 33 00:01:46,040 --> 00:01:49,560 Speaker 1: fourth consecutive session in a row, which would have its 34 00:01:49,560 --> 00:01:52,960 Speaker 1: longest losing streak since March, which I found quite surprising. 35 00:01:53,000 --> 00:01:55,520 Speaker 1: We know that tech weakness was one of the major 36 00:01:55,560 --> 00:01:59,240 Speaker 1: reasons for the equity selloff on Friday. Navidia was responsible 37 00:01:59,240 --> 00:02:01,720 Speaker 1: for forty percent forty percent of the S and P 38 00:02:01,800 --> 00:02:05,000 Speaker 1: five hundreds decline on Friday, coming after The Wall Street 39 00:02:05,040 --> 00:02:08,360 Speaker 1: Journal reported that Ali Baba has developed a chip to 40 00:02:08,400 --> 00:02:12,720 Speaker 1: compete with Navidia in China, as perhaps sparking just some 41 00:02:12,760 --> 00:02:15,920 Speaker 1: wider concerns of China's AI capability, so herding for a 42 00:02:15,960 --> 00:02:18,639 Speaker 1: second day in a row. Navidia down one point six percent. 43 00:02:18,840 --> 00:02:20,840 Speaker 1: We're also seeing Tesla in the red. Those shares are 44 00:02:20,880 --> 00:02:23,240 Speaker 1: down less than one percent. We had some disappointing news 45 00:02:23,480 --> 00:02:27,520 Speaker 1: when it came to its India debut, falling short of expectations, 46 00:02:27,560 --> 00:02:31,280 Speaker 1: and their deliveries also from their Shanghai factory in China 47 00:02:31,320 --> 00:02:34,680 Speaker 1: extended their slump, dropping for seven out of eight months 48 00:02:34,880 --> 00:02:35,320 Speaker 1: this year. 49 00:02:35,480 --> 00:02:37,600 Speaker 3: Well, let's talk about some stocks in the green. How 50 00:02:37,639 --> 00:02:41,640 Speaker 3: about Frontier Group, the low cost airline is getting a 51 00:02:41,760 --> 00:02:42,840 Speaker 3: major bid this morning. 52 00:02:42,960 --> 00:02:46,560 Speaker 1: Yeah, Frontier Group up over nine percent so far this morning. 53 00:02:46,560 --> 00:02:49,639 Speaker 1: This comes on the back of an upgrade from Deutsche 54 00:02:49,680 --> 00:02:54,359 Speaker 1: Bank after another budget airlines, Spirit on Friday declared bankruptcy 55 00:02:54,360 --> 00:02:57,040 Speaker 1: for a second time. Analysts at Deutsche Bank have pointed 56 00:02:57,080 --> 00:03:00,480 Speaker 1: out that Frontier Airlines might be the biggest benefit fishery 57 00:03:00,480 --> 00:03:03,600 Speaker 1: of Spirits bankruptcy. A lot of overlapping when it comes 58 00:03:03,600 --> 00:03:06,840 Speaker 1: to each other's roofs and customer bases, So Spirit Airlines 59 00:03:07,080 --> 00:03:09,840 Speaker 1: off the back of that bankruptcy, we're seeing Frontier Airlines 60 00:03:09,919 --> 00:03:11,519 Speaker 1: up over nine percent so far. 61 00:03:11,840 --> 00:03:14,200 Speaker 3: And maybe I spoke too soon about this not exactly 62 00:03:14,200 --> 00:03:16,880 Speaker 3: being a merger. Monday, we do have some deal news 63 00:03:16,919 --> 00:03:18,960 Speaker 3: for air Lease Airlease. 64 00:03:19,000 --> 00:03:21,760 Speaker 1: This is a aviation mega deal. Shares of air Lease 65 00:03:21,800 --> 00:03:24,880 Speaker 1: are up seven point two percent so far this morning. 66 00:03:25,240 --> 00:03:29,200 Speaker 1: Airlease has agreed to a massive merger to create a 67 00:03:29,480 --> 00:03:32,880 Speaker 1: global aircraft leasing giant. A group of investors in a 68 00:03:32,880 --> 00:03:37,960 Speaker 1: holding company which includes Sumy Tomo, SMBC Aviation, and funds 69 00:03:37,960 --> 00:03:42,520 Speaker 1: affiliated with Apollo and Brookfield, will purchase Airlease shares for 70 00:03:42,600 --> 00:03:45,320 Speaker 1: sixty five dollars a piece. It includes a seven percent 71 00:03:45,360 --> 00:03:49,040 Speaker 1: premium from the stocks closing price on Friday, and the 72 00:03:49,280 --> 00:03:53,200 Speaker 1: transaction is valued at approximately twenty eight billion dollars to 73 00:03:53,280 --> 00:03:56,000 Speaker 1: create a air lease Giant from air Lease. 74 00:03:57,320 --> 00:04:01,320 Speaker 2: This stock mover's report from Bloomberg Ray. Check back with 75 00:04:01,400 --> 00:04:04,000 Speaker 2: us throughout the day for the latest roundup of companies 76 00:04:04,040 --> 00:04:07,160 Speaker 2: making news on Wall Street and for the latest market 77 00:04:07,200 --> 00:04:11,640 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 78 00:04:11,760 --> 00:04:15,240 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 79 00:04:15,320 --> 00:04:16,799 Speaker 2: the Bloomberg Business app.