Bloomberg Audio Studios, podcasts, radio news. This 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 stocks on the move today to a Lexus Christuffers is out front of Google this afternoon the stock movers right now, Alexis, what do you have.
I've got Silicon Labs for you. This stock not like when we talk about a lot. The ticket symbol is SLAB. SLAB up fifty percent, just to give you an idea. It's based in Austin. Market cap four and a half billion, one year return last year a snoozer, basically flat. The big news today, Texas Instruments is going to buy Silicon Labs for seven and a half billion dollars. That works to about two hundred and thirty one dollars a share. Transaction expected to close in the first half of next year.
And it looks like Silicon Labs investors like this deal. If you're not familiar with that, Silicon Labs chips are used and everything from smart home devices, industrial automation, battery storage, and commercial lighting. And you know Texas Instruments. I checked I mean, I guess no surprise stock is down about three percent, but last week surprisingly strong sales forecast. I think Texas Instruments is sometimes seen as a barometer, you know, of sorts from much of the economy because of its
outsized role in the global supply chain. So there's your big deal of the day. And I also got to Eli Lilly.
Just second to guess who advised Silicon Labs from an M and a perspective, Frank Quattrone. Oh my work, cattlest partners still getting it done on silicon.
Here's to Frank, he and Mike may all worked together a few years ago in Alexis.
Please all right, Eli Lilly up eight percent, absolutely obliterated. Forecast expects sales to grow as much as twenty seven percent this year. We know it's got those blockbuster weight loss drugs Munjaro zep bound. Sales more than doubled in those drugs year over year, and that's helping give it an edge over rivals like Novo Nordis, which, by the way, I want to mention down five percent said sales are going to drop as much as thirteen percent this year.
If that doesn't underline, you know, price competition in the US. Also, some of its generic versions of its blockbuster drugs are coming to market, so weighing on Eli Lilly there. You know President Trump also made cutting drug costs a key priority of this administration, and we know that Eli Lilly and Novo have both struck deals to offer lower prices as a result. And I want to move over to the food space. Oh yes, now we're talking Chipotelet. I
went there yesterday, a really lovely lunch on Third Avenue. Well, there's going to be very pleased that you said that, because this talk is down five percent today. I don't know about you. I used to go more often. It's been a while. I feel like it's lost its mojo. You know last year, what was it with the food? Prices have gone up and I have noticed that, but also just the for a little while they weren't giving you as much food.
Well they fixed that in a big way. Yeah, oh my Nay went overboard. Now they overloaded.
Give me extra chicken. So Chipotle last year's stock down thirty nine percent. They're trying to convince younger consumers, especially because that's really their bread and butter, that there's value there. Right, you got these budget conscious shoppers, where's the value? Also, believe it or not, the weight loss drugs are giving them a problem because people are consuming fewer calories and just higher prices in general. Inflation hitting them as well.
They had that incident a couple of years ago, the rash of food safety concerns that sort of tarnished their image. They had a new CEO at the time. They seem to have bounced back from that, but they can't. They just cannot seem to get the traction they get the foot traffic back into the stores.
At Child had great lunch there yesterday, High five and those folks breakfast.
I don't think.
I just think some of the Pepsi announcement I believe it was yesterday. Yeah, you know, Doritos and Cheetas and the rest. They're going to lower the price, I know. Yeah, I got to believe a Lexus they're going to lower the price but also make the portion smaller.
Well, that shrink inflation, right, that's why you go and get an MBA exactly.
Is yeah? Figure that out?
Yeah, I mean, is that where we are in terms of affordability and purchasing.
Car Well, it's a sad state of affairs if it is, but I think you're right.
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