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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today on Paul Sweeney alongside Norm Me, Linda, and we're joined by Bloomberg's Lise Mattail. Lisa, what are you looking at all right?
We're starting with Carog, Doctor Pepper, Taker KDP. Their shares have been up as much as eight percent, so a few things. Sales for the third quarter beat estimates. It raised its full year sales outlook to be in that high single digit range. US coffee sales, which had trunk actually for the ten previous quarters, grew one a half percent. The focus, though, is really turning to this acquisition of
Dutch coffee company JdE Pete. It basically announced that the eighteen billion dollar deal back in August, and now it says it's raising seven billion dollars from Apollo and KKR to help finance that acquisition. Investors are going to like that because they had come turns that it was going to be taking on too much debt from that, but carried Doctor Pepper. They planned to separate their beverage and their coffee business by the end of twenty twenty six.
Wow shares of KDP down about fifteen percent so far this year.
Yeah, I'd like doctor Pepper, but I don't drink it that often, so not your go to.
It's not a good in rotation.
Once, so all I'll throw it in there.
See, I'm more on the coffee side of things.
Doctor Pepper's big in Texas. That's where it's from originally. So there you go.
I did right, So yes, Baby oh from right right. So we have Baby Power Company Carters. This is ticker cri I. Their shares have been down as much as seven percent, and they say basically that tariffs are dragging down its earnings. They said they can expect to win car a pretax earnings impact from additional tariffs of about two hundred million to two hundred and fifty million dollars a year. They said their full year guidance would also main suspended. But here's like the bigger news when you
look into it. It said it's going to close about one hundred and fifty stores in North America after their lease is expire of the next three years, and that's up from a previous target of one hundred stores. They also plan to reduce their office workforce by about fifteen percent. We're hearing that a lot from companies, cutting about three hundred positions, and they expect that reduction to create about thirty five million dollars in annual savings starting next year.
So that's some big news from Carters.
I mean, that's I can't imagine. That's what we won for our American businesses. This company's based in Atlanta, Georgia. Is that the effect of Terrace that we want on.
I haven't seen Carters in a while. Well, yeah, I've seen a lot of their stores. Clothing. I know, it's interesting thing, but it's still it's still out there and we haven't talked about it much. But yeah, their shares have been taking a hit two permit, so we go from children's clothing to let's go to pharma. We have a video Avidity Biosciences. It's Sticker r n A and their shore. It's really their shares have been storing as much as forty three percent. So the news behind it
is that you have Swiss drug maker Novartis. They've agreed to buy the company. It's a twelve billion dollar deal. You like the mergers. It's Novartis's biggest acquisition in more than a decade, so it's big news for them. It's also adding several potential treatment starts portfolio because Novartis it's facing a lot of competition from those cheap generics later this year, especially for its three key drugs that's like it's heart medicine includes as well, so Avidity. They're developing
experimental drugs to treat diseases including neuromuscular illness. But Novarta says two to three Avidity drugs they're expected to launch before twenty thirty. They say they have a multi billion dollar sales potential, so they really see a lot in this company. And then as part of this deal, a Vidy's going to separate its early stage cardiology programs into a new company and some of all of that which a Vidy can sell to a third party. So there's
kind of a lot behind this. But I mean, you just heard a lot of biotech m and a's like from large for companies buying smaller drug makers, you know, with this innovative technology so they can help them like boost their revenue. You know, older drugs are losing those patent protection and that's the real issue.
Here the stock Moover's 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.