Hinge Health Climbs, MNTN Rises, United Airlines Outlook

On this episode of Stock Movers:

- Hinge Health (HNGE) shares rose 17% after the digital physical therapy provider and a group of investors raised $437 million in an initial public offering priced at the top of a marketed range. Shares in the San Francisco-based company closed at $37.56 each on Thursday in New York, versus the IPO price of $32 apiece. The level at the close gives Hinge Health a market value of about $2.9 billion based on the outstanding shares listed in its filings, not including preferred stock that could convert to common shares. It has a fully diluted value of about $3.4 billion when taking employee options and restricted share units into account.

- MNTN Inc. (MNTN) shares climbed 65% after the company and some of its shareholders raised $187 million in an initial public offering. Shares in the Austin-based company closed at $26.36 each on Thursday in New York, above the IPO price of $16 per share, the top of the marketed range. Trading was briefly halted for volatility after the open. The trading gives MNTN a market value of $2 billion based on the outstanding shares listed in its filings. Accounting for employee stock options and restricted stock units, the company has a fully diluted value of about $2.7 billion.

- United Airlines (UAL) shares are up after Chief Executive Officer Scott Kirby told shareholders that the carrier is seeing “at least a stable revenue and booking environment” heading into the Memorial Day weekend and start of the summer travel season. Kirby’s comments at the airline’s annual shareholder meeting excluded the impact of flight disruptions and air traffic control problems at the airline’s hub in Newark.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio News.

Speaker 2 (00:08):
The Stock Movers Report, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg data.

Speaker 3 (00:17):
Carol Masser along with Tim Stanwick, let's take a look
at some stocks on the move today. Joining us as
Bloomberg News Equities reporter Natalia kuney Jevich. She is here
in our studio. Where are we starting? This is the way.
You've got a company that moved like a lot today.

Speaker 4 (00:32):
Yeah, we talk about IPOs first, guys.

Speaker 3 (00:35):
Oh okay, so go Yeah, so his IPO is happening
in this market.

Speaker 4 (00:39):
Exactly, it moved, I moved.

Speaker 1 (00:42):
It moved. Okay. Sorry, really got.

Speaker 4 (00:45):
To success stories today. We can't ignore team So first
one Health Hinge Health stock US up by eighteen or
seventeen percent after the IPO, the company raised more than
four hundred thirty million dollars it was priced at basically
raised much more than the company priced when we spoke

(01:09):
with sources yesterday before the company officially priced the IPO,
it was over subscribed. What was really interesting is that
allocations were really skewed towards like long gonely investors and
healthcare focused investors. Why it is important less volatility because
when the lock up expires a month from now, typically

(01:32):
fast money like hedge funday sales stocks. But now if
there are lots of long gonely investors allocate capital, it
means less volatility. Hinge Health for viewers listeners who don't know,
this is a basically digital health care platform. So if
you have pain in your back, you apply, They give
you instructions. I used it, but I was too lazy

(01:55):
to follow instruction.

Speaker 1 (01:56):
This is why I said it moved. It's a physical
therapy move. That's what we're supposed to do.

Speaker 2 (02:03):
You know, I don't have.

Speaker 3 (02:04):
A physical therapy app, and I don't think it's.

Speaker 1 (02:06):
Yeah, I don't think i've used this one before. I've
used two different ones with the same physical therapists. Bridge.
Yeah that's one i've because, yeah, we've gone in the
same place.

Speaker 3 (02:15):
And I love these apps. I love it. It's like little.

Speaker 1 (02:18):
People and they're doing it so much better than when
I was a kid and it was like a xerox
copy of and I was like shoes of how to
do a stretch? Yeah, I know, Yeah, it's pretty cool.

Speaker 3 (02:27):
We should say that it did sell. I'm just looking
at the price thirteen point seven million chairs in aggregate,
having offered them for twenty to thirty to execut a
bit of a range there.

Speaker 4 (02:40):
Right, yeah, yeah, yeah, and closed it thirty seven Really successful.
IPEOL doing pretty much, but we know that there are
so many concerns because the volatile environment. But then we
have another one M and T in or Mountain. The
stack is up by more than sixty percent. We see
that it raised almost two hundred million dollars priced at

(03:03):
sixteen dollars per share, closed the twenty six thirty six
dollars per share, and again a really strong demand across
Longnely investors. We know that Hollywood actor Ryan Ray I
can never pronounce Reynolds. Yes, he played a big role.
He's a chief creative officer, mister.

Speaker 3 (03:23):
Blake Lively, Can I even say that? Oh sorry, go ahead.

Speaker 4 (03:28):
And then I follow this story pretty closely to does it.

Speaker 3 (03:31):
Right to slash people?

Speaker 1 (03:36):
No idea?

Speaker 4 (03:37):
So yes, really really really good demand. And again yesterday
when we spoke to some investment bankers, they were really optimistic.
Strong demand. People wanted to buy those stocks. So we'll
see how it plays out.

Speaker 1 (03:50):
Mark Douglass, the Chairman, Presidency Owned founder of this company.
We've spoken him quite a bit over the last few
months ahead of this IPO.

Speaker 3 (03:57):
Can I just say the IPO? Did you say this?
Drew Otters drew orders for around fourteen times the number
of shares available, So talk about being certainly oversubscribed and interesting. Yeah,
it Ryan Reynolds factor very a little bit. Let's talk
about United Airlines, shall.

Speaker 4 (04:13):
We shall we? Yes? So not such a big move
three point six percent the stock is up. However, it
is a big signal for the market. So because CEO
Scott Curby told shareholders today that it sees at least
stable revenue and booking environment heading into the memorial, they
potentially starts off the summer trade travel season. Why it's important,

(04:37):
we remember when the company reported earnings issued to forecasts
in case we have a recession if we don't yes,
and analysts really loved that scenario because unlike other companies
like Delta Airlines, they just withdrew guidance. So now United
is saying that, yeah, potentially we can avoid a recession,
which is good. And in this case they see earnings

(05:00):
between eleven point five and thirteen point five dollars to share. Overall,
it's a pretty big move since this law in April eighth.
The stock is up by thirty five percent since early April,
but still down on a year to day basis.

Speaker 2 (05:16):
The Stock Movers Report from Bloomberg Radio. Check back with
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