Nike Jumps, Costco Upgraded, Dynavax Soars

- Nike (NKE) shares got a boost on Wednesday after a filing showed that Apple CEO Tim Cook purchased $2.95 million worth of shares on Dec. 22. Cook is Nike’s lead independent director and served as a director since 2005, according to the company’s website. The filing shows Cook purchased 50,000 Class B common stock at a weighted average price of $58.97.
- Costco (COST) rose after receiving an upgrade for Christmas, as Northcoast Research analyst Charles Cerankosky raised the recommendation on wholesale giant to buy from neutral. His new price target of $1,100 implies a 29% increase from Tuesday's closing price. Investors who followed Cerankosky's recommendation received a 0% return in the past year, compared with a negative 9.5% return on the shares.
- Dynavax (DVAX) popped after Sanofi agreed to buy the small biopharmaceutical firm for about $2.2 billion, as it seeks to expand a vaccines business currently anchored by its flu shot franchise. The French drugmaker will pay $15.50 a share in cash for Dynavax, 39% above the Emeryville, California-based firm’s closing price Tuesday. The statement on Wednesday came minutes after Sanofi said the US Food and Drug Administration had surprisingly rejected its experimental multiple sclerosis drug tolebrutinib.

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Episode Transcript

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

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

Speaker 3 (00:16):
Let's take a look at some of the stocks on
the move today and Paul Swingian alongside Christina Kino, and
we're joined by bloom Work Equities reporter Natali Knevich.

Speaker 1 (00:24):
Natalie, what are you looking at today?

Speaker 4 (00:26):
Let's start with Nike. The tickers and key E shares
are up by almost five percent after the filing showed
that Apple CEO Tim Cook bought almost three million dollars
worth of shares on December twenty second. Tim Cook, he
is Nike's lead independent director, so he made this move

(00:46):
actually the next day after the stock tumbled by ten
point five percent on disappointing EARNIX report. So Nike shares
have been under pressure. The latest NIX release showed that
sales in China are really, you know, under pressure. They
were down by seventeen percent last quarter, and also the
company expects decline in sales this quarter. So again shares

(01:11):
are down by twenty percent this year. But for Tim Cook,
that was a buying opportunity.

Speaker 1 (01:16):
Yeah, jeez, makes me wonder what does Tim cooksying and
Nike that the rest of us are missing out on.

Speaker 3 (01:21):
It's interesting we're talking about brand loyalty. Like, you know,
I thought I had brand loyalty, but then I started
trading down to all these store brands, you know, governing
food shopping and everything.

Speaker 1 (01:30):
I still have loyalties to Nike. I still buy Nike
every time.

Speaker 4 (01:33):
Same. I'm were a Nike actually.

Speaker 1 (01:36):
But I see the kids that got brands I don't
know of. Hoka. Yeah, there's a lot more. There's a
lot more variety. Ou Yeah, right now, all right, I
see what's going on there. All right, Cost go Costco.

Speaker 4 (01:46):
The tickets cost shares are up by two percent today.
It came after an upgrade from an analyst from North
Coast Research. Now. He upgraded the stock to buy from neutral. Now.
He said, that says the price targ for twelve months
at eleven hundred dollars. Now it's training at almost eight

(02:06):
hundred and eighty dollars, So it's a pretty big move.
It implies almost a thirty percent gain from the last price,
so we know that the stock is actually also struggle
and it is done by almost nine percent on a
year today basis, but the latest earnings report was not
that bad. The company says that a price sensitive customers
continue to search for value, and they also see some

(02:28):
gains across new brands and collaborations with Gap all the
beauty and new products such as Dubai chocolate.

Speaker 1 (02:34):
All right, So when I was director of research, here's
a rule.

Speaker 3 (02:37):
I had no rating change changes on these types of days,
these Christmas Eve, you know, day after Thanksgiving, whether nobody's
in the market. It's volatile because you're going to because
you can rip the stock one way or the other,
like you ripping Costco here.

Speaker 1 (02:51):
It's up eighteen points. That's not kosher.

Speaker 3 (02:53):
You don't know anyway, interesting one unless want to make
a name for yourself and your spends.

Speaker 2 (02:59):
Interesting stock mover's report from the Radio Yes with us
throughout today for the latest round.

Speaker 1 (03:05):
App companies making start up by.

Speaker 2 (03:07):
The latest market moving headlines the Bloomberg Radio from catch
us on YouTube, Bloomberg dot com and on the Apple
car Play and with the Bloomberg.

Speaker 4 (03:18):
Business fifteen fifty dollars per share in cash.

Speaker 2 (03:22):
We know that.

Speaker 4 (03:23):
So OFFI agreed to buy Dynavags for about two point
two billion dollars and this deal will allow it to
get more access to different vaccines including hepatitis B vaccine
and potentially it can also improve its profile across global
vaccine distribution