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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.

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Speaker 2: Stock Movers podcast, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: I want to take a look at some stocks on

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Speaker 3: the move today. We're joined now by Bloomberg's Isabelle Bloomberg

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Speaker 3: Cross Asset Reporter. Let's kick it off with Shakeshack.

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Speaker 1: Shakeshack. So the stock is edging higher by almost one percent.

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Speaker 1: Loop Capital Markets upgraded the stock to buy from hold

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Speaker 1: thanks to the recent pullback in shares and also the

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Speaker 1: potential upside for the company's earning. So if analysts Alton

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Speaker 1: Thump saying that there is potential for ten percent plus

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Speaker 1: upside to management guidance, he sets a price target at

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Speaker 1: one twenty seven dollars. Now it's around eighty eight dollars,

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Speaker 1: so that's around a forty four percent increase from the

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Speaker 1: closing price. And he has that the recent pressure in

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Speaker 1: shares has created an attractive buying opportunity. So the stock

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Speaker 1: has slumped around thirty two percent so far this year,

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Speaker 1: so that's also from peak. It's even more at around

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Speaker 1: thirty seven percent, So that's exactly what he was saying.

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Speaker 1: But Shakeshack has thirteen buys, twelve holds, and one sell.

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Speaker 3: People love the Shakeshack. I like the I'm never in there,

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Speaker 3: but they knew really well, no, I mean it's burger

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Speaker 3: I love burgers.

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Speaker 1: But you know, all right, we'll go down one day

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Speaker 1: after the show to Manison Square Park outside in the

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Speaker 1: park and show.

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Speaker 2: Okay, that's where you go.

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Speaker 3: I'm gonna have this. I'm really conwarded the shake part

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Speaker 3: of that whole thing. Johnson and Johnson also on the

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Speaker 3: move today. Tell us what's happening here.

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Speaker 1: It's in the opposite direction, edging lower by more than

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Speaker 1: five percent. So a federal judge rejected the company's third attempt.

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Speaker 1: He used bankruptcy to set up a multi billion dollar

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Speaker 1: trust fund to pay women who claim they got cancer

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Speaker 1: using baby powder. So I used to use a lot

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Speaker 1: of baby powder when I was young, and I did

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Speaker 1: admit I got a little bit scared. So JJ was

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Speaker 1: trying for this third time to use a small unit

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Speaker 1: to resolve this all tech talk related lawsuits involving overron

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Speaker 1: cancer and other gynecological diseases. And so obviously the judge

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Speaker 1: rejected this.

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Speaker 2: This is obviously a real thing about I just kind

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Speaker 2: of is it still on the shelves.

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Speaker 3: No. I think it's more just like how they're going

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Speaker 3: to pay for it. Yes, he's trying to figure out

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Speaker 3: how they're going to sell these connels.

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Speaker 1: Are people still using this product?

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Speaker 3: You can sell a baby pattern. But clearly like any

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Speaker 3: issues that may or may not have been there, they're

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Speaker 3: going to definitely go in and fix. This is just

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Speaker 3: in terms of the settlement and how they're going to

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Speaker 3: wind up paying for because they're so big.

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Speaker 1: Yes, and the latest trust proposal, what's set aside nine

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Speaker 1: billion dollars for the victim?

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Speaker 3: So yeah, and substantial and sort of how to navigate that.

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Speaker 3: Let's wrap it up again. Here we go with Newsmax.

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Speaker 1: This is honestly eye popping. So Newsmac shares skyrocket at

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Speaker 1: seven hundred percent in the debut session. Now it's still

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Speaker 1: edging higher by ninety two percent, and a lot of

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Speaker 1: that is because of individual investors. So they piled in

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Speaker 1: to the conservative media outlet after its IPO. So the

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Speaker 1: company sold seventy five million dollars of shares at ten

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Speaker 1: dollars each. That's in Monday's IPO, and really investors piled

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Speaker 1: all in. They're among the thirty most actively traded on

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Speaker 1: Fidelities platform. And this is just in stark contrast with

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Speaker 1: the lackluster and kind of like the I don't want

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Speaker 1: to say lame, so let's just say I'm not exciting

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Speaker 1: IPO we've seen with Corewave and Venture Global, so it's

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Speaker 1: interesting and another fun fact, the six year old co

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Speaker 1: founder and CEO Christopher Ready now commands a fortune of

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Speaker 1: three point three billion pollars.

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Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube,

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