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The Stock Mover's Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carol Masser along with Tim Stenovik. Let's get to some stocks on the move on this Monday, and lucky for us, we were joined by Bloomberg crossuser reporter Isabelle Lee, who's starting with Beyond Meat.
We're starting with Beyond Meat because the stock is down seventeen percent. So this isn't a simple stock mover because I'm going to give you a little bit of context. Four years ago, Beyond Meat raised more than a billion dollars by selling a zero coupon convertable bond DO twenty twenty seven. So big hedge funds like Wolverine, d E Shaw, Context Capital were among the buyers. But as the meat
free boom cooled, so it did Beyond fortunes. So with that that's coming due to company struck a deal with bondholders. They swapped their old notes for new ones, paying seven percent interests and extra shares. Then came the memes stock mania, which brings us to today. So Beyond Stock don more than one percent in the days this had a bond holders a huge paper profit. So the new bonds, which is now do twenty thirty trades that around one hundred cents on the dollar, and one investor calls it a
win win. So I just thought it was interesting because beyond the stock move story, you see like this convertible bond story, which we don't really get to hear a lot about. But yeah, the craze is still there. But the stock saw pull back today rightly, so probably if you have technical analysts, but it's down seventeen percent. Ticker is b Y n D. Before anyone gets mad at me, b Y and D.
Nobody's ever again except for somebody in the control room.
Yeah, somebody. We like him. We like him.
That is interesting. Now, like what's going on? Yeah, fascinating Qualcom.
Qualcom ticker q com. So this is good news. Shares not eleven percent. That's the biggest one day gain since April, the highest level in fifteen months. So basically, they unveiled a new line up of AI data center chips and computers, taking aims squarely at Nvidia. So the new lineup will start chipping next year. Their first customer will be a Saudi Arabian startup. So I think there's more story there,
but we may not have time for now. So Qualcomm is best known for a smartphone processors, So it's betting that really power efficient designs and new memory technology can win business in AI accelerators, and that exact space is what made in Vidia basically the most valuable stock honors.
I wonder if they when they make that contract, are they committed they planned to do it? Could they back out?
That's a good point, Like you know, I'm just looking at the Bloomberg terminal. This was the biggest day for Qualcom going back to April ninth of twenty twenty five. That's when when it was up fifteen percent, but at one point in the day when it was surging. It was the biggest day going back to twenty nineteen.
Yeah, really impressive.
Uh, Curic talk about oppressive.
I know, I'm so thankful you said that, because I don't know how to pronounce it. Care Everyone pronounced it differently, I guess depending on where they're from. KADP. I'm just gonna say KDP. Cur Pepper, who oh wait, what are the way we cure it? I don't don't, Carol, I'll just say coffee shares jump, you know, just ten percent. That's the biggest interday game since March twenty twenty. So it did pair back some of those games. So it's
closed seven point six percent in the green. So cureg Doctor Pepper is raising seven billion dollars from private equity giants Apollo and KKR. That's to help finance it's planned eighteen billion dollar takeover of JD E. Pete, which I haven't tried, by the way, I haven't white coffee. Yeah, have you both tried?
Well, you know, you go to enough airports. There's pizza all over.
I just try a Bloomberg coffee.
I have a little Kira cups.
Oh no, I'm going to try so person.
Me too now, but will yeah, okay, yeah.
This isn't an ad just honest advice. So the combined company would generate around sixteen billion in animal sales and three billion in earnings. So the new funding will trim creriggs expected death looad to thirty one billion dollars down from thirty eight billion originally. And a poll and KKR will invest billion dollars sor right there is.
That an XP Semiconductor reporting in the aftermarket, tickers at n XPI, and the stock is on the move.
Yes, it's up four percent post market. So they're a provider of automaker chips and industrial customer chips, so they give a stronger than expected forecast, signaling that the company is recovering from this luggish demand. So two things here. Really, automakers and other customers had stockpiled chips during the pandemic, and it took way longer for that oversupply to really not be an oversupply for the glove to be gone.
And companies have delayed spending amid geopolitical uncertainty. But we have the CEO now saying that the glove may finally end this year. So revenue is also higher for the fourth quarter, suggesting that you know they're weathering the rough stretch better than expected.
Yeah.
Interesting, what's the stock doing this year? I'm just looking up about six seven percent here, all nice, Yeah, and a lot of it. Well, it'll be maybe better tomorrow because the bump saying it could happen, It could happen.
The stockmovers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.