Verizon Earnings Preview; Domino’s Pizza Slides; Qualcomm Gains

Equity indices made by committees? That's the old way. The new way is Bloomberg Equity Indices. Transparent indices built on data, not opinions. Discover evolved benchmarks for today's equity markets at Bloomberg.com slash equity index subscriptions. Bloomberg Audio Studios. Podcasts, radio, news. 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 stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis, starting off with some Merger Monday news, I think we could say, in the pharma space. Dan, is that right? Good morning. Good morning, Nathan. That's right. We have news that Eli Lilly, ticker LLY, is buying Ajax Therapeutics for up to $2.3 billion in cash. That has shares of Eli Lilly up about two-tenths of a percent. In pre-market, Ajax Therapeutics is a private company. The deal is for Ajax, which has a treatment in phase one clinical trial, which is used to treat a group of rare blood cancers. And proof of concept data behind this is expected later this year. The details are still emerging, but it looks like it's an upfront payment plus additional payments for clinical and regulatory milestones that Ajax may hit. So that giving Eli Lilly a little bit of a light pop early trading. Okay, so along with the M&A news, we're expecting a whole lot of news this week on the earnings front. This morning, we heard from Domino's Pizza. Did they deliver, Dan? They cooling off in pre so no I guess they missed their delivery target First quarter top and bottom line missed estimates U same sales growth was 0 with analysts expecting a 2 expansion That is weighing on shares trading under ticker DPZ. Those are down 4% in the pre-market. International growth was also weak. It unexpectedly saw a fall of 0.4%. They were looking for growth there. The CEO noted that the pizza chain is facing an intensifying macro and competitive environment, and we're waiting for details on guidance during the call. Analysts expect Domino's to cut its full-year outlook as it relies more heavily than rivals on lower-income consumers who are feeling the squeeze from the energy shocks. Okay. Well, one of the biggest gainers pre-market is Qualcomm. What's going on with them? Yeah, ticker QCOM is up over 11% in the pre-market. That's after a Business Standard report says OpenAI is reportedly collaborating with MediaTek and Qualcomm to develop an AI-focused mobile phone. The report cites TF International Security Analyst Ming-Chi Kuo. Qualcomm would reportedly be involved in making the processors for this phone. And Kuo says that current phones are constrained by system-level permissions by iPhone and Android. Basically, developing a phone would give the AI system direct access without being restrained by the phone maker's rule. So sounds like an AI phone is at least being considered. Oh, wow. So even more AI development here. And even bigger gain this morning for Oregonon? Is that how you pronounce this one, Dan? I'm saying Oregonon, but my mom is from Oregon, so that might just be why. The ticker is OGN regardless of however you say the company name And those shares are up 16 in pre As Indian company Sun Pharmaceutical is acquiring the women health care company The U.S. company will be bought for $14 per share in cash. That's nearly a $14 billion deal, and that deal is expected to close early next year. Organon's flagship products include a contraceptive implant and a fertility stimulation drug. And the news of this potential tie-up was out a few weeks ago. There's been some back and forth over the last few weeks, so we finally have news that this deal is going forward. And you're closing us out here with a decliner. What's behind the fall for GE Vernova this morning? Yeah, BNP Paribas is downgrading the power equipment company to neutral from buy. That has shares down about 2% in pre-market. The BNP Paribas sees growth momentum hard to sustain as 90% of turbine capacity is already contracted through 2030. In order to keep the trajectory, companies would have to book projects not yet approved or backstopped by power purchase agreement. So that far out, there's a little bit less see-through into where the growth could come from. BNP Paribod does know it is not a bare case, though. The Stock Movers 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.com, and on Apple CarPlay and Android Auto with the Bloomberg Business App. Bloomberg Equity Indices. Transparent indices built on data, not opinions. Discover evolved benchmarks for today's equity markets at Bloomberg.com slash equity index subscriptions. Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made. And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday, keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled. So you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break. So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens. It's smart, calm and to the point. And it fits into your morning. You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris. On Apple, Spotify, YouTube or wherever you get your podcasts. What separates good leaders from transformational ones? I'm Jessica Chen and in season two of Leading by Example, we'll sit down with executives like Grace Chen of Birdie Grey to find out. it's important to understand where you spike but also really acknowledge where you don't and find people who can fill those gaps listen to leading by example executives making an impact on the iHeartRadio app apple podcast or wherever you get your podcasts