thank you bailey lipschultz for what is going on with gamestop, amc, you name it. the s&p 500 is unchanged. take a look at the nasdaq 100. still a very quiet day over all. we heard from jerome powell this morning saying you need to be patient. it's not really showing up anywhere in the markets right now. that does it for bloomberg markets. i'm katie greifeld. this is bloomberg. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh and they're all coming? those who are still with us, yes.hhhhh grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly.

bailey lipschultz, have a great weekend.ovavax source after signing a billion-dollar licensing deal. emily field of barclays says the timing of the transaction raises questions. she joins us next. this is bloomberg. ♪ the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. katie: shares of novavax are absolutely surging today after it signed a deal with french drugmaker sanofi. a 1.2 billion-dollar licensing agreement. it includes commercializing a combined covid and flu shot. joining us now is emily field, barclays had a pharmaceutical research. an overweight waiting on sanofi. does rating on sanofi --an overweight rating on sanofi. we were talking about how modernity needs to diversify away from covid-19. uptake really falling off. then they have this deal today. tell me about what you make of the timing. em

katie: we are going to take a quick check on what is moving under these markets with bailey lipschultz. not a great monday for tyson foods. >> we saw stocks higher, but then you look at the analyst call. management saying it would trail with the usda was projecting. they said u.s. chicken production issues are not a short-term fix, so when the stock started out up a few percentage points and now dropping, the biggest drop since august, uncertainty also about the ability to sell packaged goods. think about chicken tenders and different types of breakfast meals. it seems like the stock that did close at a greater than 52 week high getting back a chunk given the uncertainty. katie: i do often think about chicken tenders. rough day for tyson. a different story when it comes to fresh pet, executing well here. bailey: the big thing is executing on their ability to focus on profitability. it is one of those companies that caters to i do not want to call it boushey -- bougie pet parents but it is. it is trying to sell consumers to treat their pets like humans but it does seem like it is workin

bailey lipschultz talking about a couple of the stocks moving in the markets just about 40 minutes into the session. headlines in the leverage loan market we are -- they were dominated by private credit but they flipped as syndicated loans make a comeback. we will speak to kramer 11 the tollison frankel partner next. this is bloomberg. ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. matt: lester's leverage loan headlines were dominated by private credit taking a lot of market share from syndicated loans which has been up until then the only game in town. this year the trend has reversed. syndicate loans making a comeback in the leverage loan market. here to discuss is someone who works on both kinds of deals. richard farley in his role as partner advises banks and private clients on syndicated financing transactions and direct lending so it's great to get someone with your knowledge and experience here. what do

looking for some action, let's go to bailey lipschultz. feels like we woke up in 2021 feeling like what is going on with gamestop right now. bailey: we are so back, as is marine kitty, call it a meme of a player. that triggered a rally in gamestop shares, up more than 90%, now 104%, halting four times in the first few minutes for voluntarily. it appears those animal spirits are around. still cautious on the company, cautious on the outlook. they had earnings next month but it feels like in this moment in time, very much shades of 2021. even seeing shares like amc, all rounding double digits this morning. it seems like investors are more than happy to play that meme stock now. katie: i thought stuff like this wasn't supposed to happen anymore after all of those rate hikes. gamestop going to limit up this morning. let's talk about what is going on with apple. a lot of speculation around that name as well. bailey: on the number of reports and reaction from wall street into the potential for a partnership with openai. that would bring some of