SpaceX Agrees to Merge With Cursor; Novo to File for China Approval of Wegovy; Dave & Buster's Misses Estimates

Yum to Sell Struggling Pizza Hut; Dave & Buster’s Sinks; Robinhood Shares Gain

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Yum! Brands (YUM) agreed to sell its struggling Pizza Hut chain for $2.7 billion to a private equity firm and its China business. LongRange Capital will acquire Pizza Hut ex-China for $1.5 billion, Yum said in a statement Tuesday. Yum China Holdings Inc. will buy the rest of the business for $1.2 billion. The transactions are expected to close in the third quarter. - Dave & Buster’s (PLAY) shares tumble after the operator of restaurant and entertainment facilities reported comparable sales for the first quarter that missed the average analyst estimate. Research firm Benchmark downgraded the stock, citing a lack of confidence that same-store sales will stabilize/eventually turn positive this year. - Robinhood Markets (HOOD) shares are up after it said it is reducing its full-time employee workforce by 10%, and also closing a small number of open roles. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

SpaceX Agrees to Merge With Cursor; Novo to File for China Approval of Wegovy; Dave & Buster's Misses Estimates

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - SpaceX (SPCX), X67 and Anysphere entered a merger agreement with Cursor in a deal which values Cursor at an implied equity value of $60b. - Novo Nordisk (NOVOB DC) will submit oral Wegovy for regulatory approval in China in a few weeks, Chief Executive Officer Mike Doustdar told reporters in Beijing on Tuesday. - Dave & Buster's (PLAY) reported revenue for the first quarter that missed the average analyst estimate. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Rathbones Plunges, STMicro Dips, Porsche Down

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Rathbones Group Plc shares plunged after the UK wealth manager said it expects to incur £60 million ($80.4 million) of additional costs over the next two years, as it addresses issues found in a watchdog review into how it treats its customers. - STMicroelectronics NV is looking to raise $1.5 billion from selling debt that can be exchanged into equity after the chipmaker’s shares tripled in value so far this year. - Porsche received an upgrade to equal-weight at Barclays, which sees improving investor sentiment and a lack of near-term negative catalysts. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Unicredit Up, Rathbones Plunges, Rheinmetall Rises

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Germany rejected UniCredit SpA’s takeover bid for Commerzbank AG and said it supports the lender’s independence given its important role for the national economy. - Rathbones Group Plc shares plunged after the UK wealth manager said it expects to incur £60 million ($80.4 million) of additional costs over the next two years, as it addresses issues found in a watchdog review into how it treats its customers. - Germany’s Rheinmetall and South Korean LIG Defense&Aerospace agreed to establish a strategic partnership to supply air defense systems for Europe and NATO member states. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

SpaceX Jumps, Adaptive Biotechnologies Slides, Dave & Buster's Lower

Today's biggest winners and losers in the stock market, a look at the notable movers: On this episode of Stock Movers: - SpaceX (SPCX) shares jumped in their second day of trading, adding to gains following a blockbuster debut that instantly vaulted it into the ranks of the world’s most valuable public companies.The stock climbed as much as 16%, extending Friday’s 19% rally, to add almost $340 billion in market value. The move boosts the company’s market value to more than $2.4 trillion, putting it among the top six largest companies in the world. At its current market capitalization, it’s less than $220 billion away from overtaking Amazon.com Inc., which boasts a nearly $2.7 trillion value. - Adaptive Biotechnologies (ADPT) shares slide 6.2% postmarket after the life science equipment company said it plans to offer $250 million convertible senior notes. It also announced its intention to pursue a separation of its Minimal Residual Disease and Immune Medicine businesses. - Dave & Buster's Entertainment (PLAY) reported a lower profit and falling revenue in the first quarter, dragged down by a continued slide in comparable store sales. The Dallas-based company on Monday said its comparable store sales fell 5.4% during the quarter, steeper than the 1.2% decline expected by analysts polled by FactSet. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.