00:00Newvalent, based there in Cambridge, Massachusetts, it's a cancer drug company, up 38%.
00:06So it's being bought out by the UK pharma company GSK for $10.6 billion.
00:12This is about $124 a share in cash, and it's a 40% premium over Newvalent's closing price on Monday.
00:20So what does this do for GSK?
00:22It secures them a US biotech firm with development treatments for, that's developing treatments for lung cancer.
00:29It's an area GSK is looking to get into, and they're also trying to offset the patent expiration of a
00:35popular HIV drug.
00:37So they're buying up and doing some of these smaller deals.
00:41Wall Street didn't think it was too small, though, and actually they think it may be a little bit rich
00:45at $10.6 billion.
00:46Shares of GSK, by the way, were down about 2% earlier, but now they're a little changed, so they've
00:52come back up quite a bit.
00:53Two of the three medicines that GSK is acquiring are in their late-stage trials.
01:00The FDA expected to decide on approval later this year.
01:03They said they could both be blockbuster medicines when it comes to lung cancer treatment.
01:08How quaint, it's not semiconductors.
01:10No, exactly, a little health care.
01:11Exactly, exactly.
01:13All right, let's move on to J.M. Smucker, because you've got to get a little food here.
01:17Orville, Ohio.
01:18Not sure where Orville is, but it sounds middle-American to me.
01:21Is that where Orville Redenbacher's popcorn?
01:24Oh, I don't know.
01:24Let me do some Googlage here.
01:26All right, S.J.M. is the ticker symbol, up 4.7%.
01:30Makes jelly, yes, we know, but also a whole bunch of other things, including coffee.
01:34And that's one of the reasons why sales were so strong.
01:37Fourth quarter profits and sales beating the street.
01:39But you know what?
01:40Not because they necessarily sold more, so it's not because of volume.
01:43It's because they raised their prices.
01:45And we paid more for these things.
01:47So sales volume actually decreased for Dunkin' and Folgers brands, but increased for Café
01:54Bustelo.
01:55Oh, I don't know that one.
01:55You have this Café Bustelo?
01:57Yeah, when I was growing up in the city, I went to high school, had a best friend, would
02:00go to her house, her mother's Spanish, and they always, from Spain, and they always had
02:04Café Bustelo in the house.
02:06Oh, okay.
02:06And I loved it.
02:07And I said, Mom, they're so cool and hip, and we have to get Café Bustelo.
02:10And she looked at me and said, you know, we're sticking with like.
02:12I mean, Sarah, you're killing me.
02:14Out on YouTube, she got images of Incrustables.
02:17So my first e-veil, you know how you do like employee e-veils?
02:20Yeah, yeah.
02:21And I'm like, yeah, whatever.
02:22And so like page four of my e-veil, they go, what does Bloomberg need?
02:26And I said, Incrustables in the food court.
02:28Yep.
02:29Wow.
02:29And I keep asking every year.
02:32And I have Cheez-Its.
02:33That's good that I have Cheez-Its.
02:34Yeah.
02:34Well, they help J.M. Smucker's bottom line.
02:36But like other packaged food companies, they're contending with, you know, consumers who are changing
02:41their eating habits, they're financially strapped.
02:43So the company said it's working on ways to cut costs and also stabilize the Hostess brand,
02:49which it bought just a few years ago.
02:51Stabilize?
02:51I personally stabilize the Hostess brand.
02:54Look out.
02:55All right.
02:56Let's move on up the mountain to Vail Resorts, ticker symbol MTN.
03:01Guess what you need to make money if you're a ski resort?
03:03Snow.
03:04I think so.
03:04And they didn't have it.
03:05They didn't have it this past winter.
03:08So Vail Resorts says next season's past sales.
03:11Are already down.
03:12Yeah.
03:13Because of a challenging year, especially out West, Colorado, Utah, really tough time.
03:18I would say the past-
03:18Were you out there, Paul?
03:19I was.
03:19I was out at Aspen this year.
03:21The past 20 years, snow has been great out West.
03:24But last year was a bad year.
03:25And it happens.
03:26But I'm not sure it's a trend.
03:28But, and people complain about Vail.
03:30They're so corporate, corporate, corporate.
03:31But all I know is they invest tons of money into their resorts.
03:36And it's, they do a great job, I think.
03:39And so I know people say, oh, it's a big corporate ski.
03:42But yeah, but you have to invest so much money in these places.
03:45And they do.
03:46So I don't know.
03:47I think they do a good job.
03:48Round trip back to where it was 2017.
03:51Yes.
03:51Alexis, thank you so much.
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