Boeing GameStop Fall, BioNTech Rise on CureVac Acquisition

On this episode of Stock Movers:
- Boeing (BA) shares drop after 787 Dreamliner aircraft operated by Air India crashed shortly after taking off in Ahmedabad, with 242 passengers and crew on board, and no reports of survivors.
- GameSTOP (GME) shares dip after Hardware and Accessories net sales from the video game retailer missed Wall Street’s expectations.
- BioNteck (OXM) shares rose after agreeing to buy CureVac in an all-stock transaction to boost their growing oncology business.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,
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. I'm
Paul Swooney along with alex Steel and we're joined by Bloomers.

(00:23):
They need to Ceco, but they need so what are
you looking at this one.

Speaker 2 (00:25):
Let's start with a quick check on Boeing. Obviously, it's
coming off the devastating news of the crash with the
plane heading to on them from India. The stock is
down about six percent today. Along with that, we're seeing
General Electric, We're seeing Spirit Aero Systems. We're seeing a
lot of those avier companies suffering devastating crash. More than

(00:47):
two hundred people have been found aat and obviously we're
getting more and more developments on that. It's raising a
lot of questions about the safety of CEV aviation. We
know the twenty twenty four pretty bad year. Twenty twenty
five had a rough start. There were more and more
questions about buoying and clearly those questions are coming back.

(01:10):
The motor was from General Electric, so those dogs are
susing pressure. So the devastating story and indeed raising a
lot of questions going forward for cevil Aviation. Yeah, absolutely,
all right, what else you're a gonna We're looking at
game Stop as well. The stock tumbled more than nineteen percent.
It's about twenty percent now if we look here today,

(01:34):
it's down twenty seven percent. Pretty rough start of the year.
They're implementing that's strategy, Stone Front strategy from Michael Saylor,
and they're applying to offer about one point seventy five
billion worth of convertible bonds. They made a lot of
changes in March, and it seems like this hasn't reflected
that wech on their share price. The updated a policy

(01:56):
to allow executive and directors to promise security is a collateral.
They also allowed in their investment policy to invest treasury
reserve assets in bitcoin. So those two big changes were
supposed to help the company with Clearly investors are not
reacting well to that big loss here today. Of course,

(02:18):
this is a retail favorite, so things move very fast
than fortunes change. But so far the news today are
not takeaway by investors. Anything else we have Beyontech buying CureVac.
That's a very interesting one where the two companies have
been rivals for many years and now Beyondech is buying

(02:38):
it for one point twenty five billion all sock transaction.
So Beyontech won the race with Pfizer when it comes
to becoming one of the leading biotechs in Europe. Cure
back Shot never made it to the market actually, but
they have pivoted away from infection diseases workocusing instead on

(03:01):
cancer IMU therapies, so that acquisition is adding to be
intech effort in that stock is just over one percent today,
but here today pretty strong, a pretty strong gain of
six percent, so some good news for vaccine makers.

Speaker 1 (03:18):
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