1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market 3 00:00:13,680 --> 00:00:17,520 Speaker 1: harnessing the power of Bloomberg Data. Let's take a look 4 00:00:17,560 --> 00:00:20,079 Speaker 1: at some stocks on the move today. I'm Tim Keen 5 00:00:20,160 --> 00:00:22,760 Speaker 1: with Paul Smeni and Bloomberg's John Tucker. 6 00:00:22,840 --> 00:00:26,880 Speaker 2: Where do you begin? All, Let's begin with CFLT. That's 7 00:00:26,920 --> 00:00:30,440 Speaker 2: the ticker, the company name. They're based in the Valley Confluent. 8 00:00:30,480 --> 00:00:34,480 Speaker 2: It's a data infrastructure company. They have highly sown after 9 00:00:34,560 --> 00:00:38,760 Speaker 2: technology Reuter says they're exploring a sale after they received 10 00:00:38,920 --> 00:00:42,800 Speaker 2: acquisition interest companies working with an investment bank of the 11 00:00:42,840 --> 00:00:45,920 Speaker 2: sale process. It's in the early stages. This was all 12 00:00:45,960 --> 00:00:50,680 Speaker 2: instigated after private equity firms and other tech companies separately 13 00:00:50,720 --> 00:00:56,600 Speaker 2: expressed acquisition interests. Now Confluent became vulnerable to takeover approaches 14 00:00:57,120 --> 00:01:00,920 Speaker 2: early in July. That's when the company reported actually losing 15 00:01:01,040 --> 00:01:06,080 Speaker 2: business from a large customer, and Bloomberg Intelligence writing this morning. 16 00:01:06,120 --> 00:01:12,400 Speaker 2: Confluence potential sale may not immediately offset growth headwinds from 17 00:01:12,560 --> 00:01:16,559 Speaker 2: enterprise spending pullbacks, yet its strong cloud mix, high value clients, 18 00:01:16,560 --> 00:01:22,280 Speaker 2: and heavy marketing spending could attract buyers seeking synergies Synergies Center. 19 00:01:22,319 --> 00:01:26,039 Speaker 2: I love that word. With AI easing use of open 20 00:01:26,040 --> 00:01:30,120 Speaker 2: source tools, a larger partner could help refocus spending on 21 00:01:30,680 --> 00:01:34,160 Speaker 2: product innovation. And if you understood any of that, please 22 00:01:34,360 --> 00:01:38,760 Speaker 2: give us. You know you're killing it to Lord looks next. 23 00:01:39,040 --> 00:01:39,720 Speaker 1: J E. F. 24 00:01:39,880 --> 00:01:44,360 Speaker 2: Jeffries Jeffries Financial Group. They say they have one hundred 25 00:01:44,400 --> 00:01:46,800 Speaker 2: and sixty one million dollars of exposure to funds that 26 00:01:47,440 --> 00:01:52,040 Speaker 2: held a trade receivables and loans the bankrupt autoparts supplier 27 00:01:52,440 --> 00:01:57,320 Speaker 2: First Brands Group the exposure mostly through its point Benita Capital. 28 00:01:57,360 --> 00:02:01,440 Speaker 2: This is a division of its asset management, which manages 29 00:02:01,560 --> 00:02:06,240 Speaker 2: trade finance assets on behalf of third party and other investors. 30 00:02:06,600 --> 00:02:10,200 Speaker 2: Lucadia has a one hundred and thirteen million dollar equity 31 00:02:10,240 --> 00:02:14,200 Speaker 2: stake in the fund. Jefferies also disclosed exposure to First 32 00:02:14,200 --> 00:02:19,200 Speaker 2: Brands through Apex Credit Partners In, which owns a fifty 33 00:02:19,280 --> 00:02:22,600 Speaker 2: percent steak. Thank you for doing this, This is Paul, 34 00:02:22,639 --> 00:02:25,400 Speaker 2: This is like percolating. Yeah, this is how out there 35 00:02:25,880 --> 00:02:26,440 Speaker 2: it's out there. 36 00:02:26,919 --> 00:02:30,760 Speaker 1: Marcus Ashworth in London would say, there's more to this. 37 00:02:30,720 --> 00:02:36,600 Speaker 2: Okay, yeah, investor. The scrutiny intensified in August, forcing First 38 00:02:36,600 --> 00:02:40,400 Speaker 2: Brands to pause plans to refinance what's six billion dollars 39 00:02:40,440 --> 00:02:43,760 Speaker 2: worth of debt. And finally, let's wrap up with this 40 00:02:43,840 --> 00:02:47,920 Speaker 2: is a drag in European markets today. But BMW issuing 41 00:02:48,160 --> 00:02:52,200 Speaker 2: profit warning. Among other things, they say Chinese volume struggles. 42 00:02:52,720 --> 00:02:58,240 Speaker 2: The shares tumbled yesterday, felt something like seven percent, the 43 00:02:58,320 --> 00:03:02,680 Speaker 2: German automakers at volumes in Chin below expectations. In addition 44 00:03:02,800 --> 00:03:06,359 Speaker 2: to that, they said the US European Union tariff agreement 45 00:03:06,880 --> 00:03:09,919 Speaker 2: that actually has yet to materialize, so that's not final 46 00:03:10,160 --> 00:03:12,720 Speaker 2: terriffs thing. That's one of the big stories. Paul into 47 00:03:12,760 --> 00:03:17,200 Speaker 2: Q four. We're all apoplectic about tariffs what six months ago? 48 00:03:17,320 --> 00:03:20,880 Speaker 1: Yeah? Sure, I mean I don't hear anybody you know groceries. 49 00:03:21,000 --> 00:03:22,840 Speaker 2: I know what is groceries because of tariffs? 50 00:03:22,919 --> 00:03:26,840 Speaker 1: I don't know it's Do we all agree avocados are 51 00:03:26,880 --> 00:03:28,040 Speaker 1: outragiously priced? 52 00:03:28,600 --> 00:03:32,560 Speaker 2: Everything's outrageously priced. I left the food town the other 53 00:03:32,639 --> 00:03:35,880 Speaker 2: day with two small bags and a bill of one 54 00:03:35,960 --> 00:03:38,920 Speaker 2: hundred and ten dollars, so I didn't get much. That 55 00:03:38,960 --> 00:03:39,440 Speaker 2: doesn't play. 56 00:03:40,520 --> 00:03:43,160 Speaker 1: I look at it as per bag and it's frightening. 57 00:03:43,880 --> 00:03:48,240 Speaker 2: So anyway, as far as the tariffs on European imports 58 00:03:48,360 --> 00:03:51,600 Speaker 2: with respect to BMW. They're still at twenty seven and 59 00:03:51,600 --> 00:03:53,680 Speaker 2: a half percent. They're supposed to go down to fifteen 60 00:03:53,760 --> 00:03:57,560 Speaker 2: percent for the automakers. It hasn't happened yet. 61 00:03:58,720 --> 00:04:02,720 Speaker 1: This Stock Movers report from Bloomberg Radio. Check back with 62 00:04:02,840 --> 00:04:05,400 Speaker 1: us throughout the day for the latest roundup of companies 63 00:04:05,480 --> 00:04:08,560 Speaker 1: making news on Wall Street and for the latest market 64 00:04:08,600 --> 00:04:13,080 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 65 00:04:13,160 --> 00:04:16,640 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 66 00:04:16,720 --> 00:04:18,200 Speaker 1: the Bloomberg Business app.