Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market
Speaker 1: harnessing the power of Bloomberg Data. Let's take a look
Speaker 1: at some stocks on the move today. I'm Tim Keen
Speaker 1: with Paul Smeni and Bloomberg's John Tucker.
Speaker 2: Where do you begin? All, Let's begin with CFLT. That's
Speaker 2: the ticker, the company name. They're based in the Valley Confluent.
Speaker 2: It's a data infrastructure company. They have highly sown after
Speaker 2: technology Reuter says they're exploring a sale after they received
Speaker 2: acquisition interest companies working with an investment bank of the
Speaker 2: sale process. It's in the early stages. This was all
Speaker 2: instigated after private equity firms and other tech companies separately
Speaker 2: expressed acquisition interests. Now Confluent became vulnerable to takeover approaches
Speaker 2: early in July. That's when the company reported actually losing
Speaker 2: business from a large customer, and Bloomberg Intelligence writing this morning.
Speaker 2: Confluence potential sale may not immediately offset growth headwinds from
Speaker 2: enterprise spending pullbacks, yet its strong cloud mix, high value clients,
Speaker 2: and heavy marketing spending could attract buyers seeking synergies Synergies Center.
Speaker 2: I love that word. With AI easing use of open
Speaker 2: source tools, a larger partner could help refocus spending on
Speaker 2: product innovation. And if you understood any of that, please
Speaker 2: give us. You know you're killing it to Lord looks next.
Speaker 1: J E. F.
Speaker 2: Jeffries Jeffries Financial Group. They say they have one hundred
Speaker 2: and sixty one million dollars of exposure to funds that
Speaker 2: held a trade receivables and loans the bankrupt autoparts supplier
Speaker 2: First Brands Group the exposure mostly through its point Benita Capital.
Speaker 2: This is a division of its asset management, which manages
Speaker 2: trade finance assets on behalf of third party and other investors.
Speaker 2: Lucadia has a one hundred and thirteen million dollar equity
Speaker 2: stake in the fund. Jefferies also disclosed exposure to First
Speaker 2: Brands through Apex Credit Partners In, which owns a fifty
Speaker 2: percent steak. Thank you for doing this, This is Paul,
Speaker 2: This is like percolating. Yeah, this is how out there
Speaker 2: it's out there.
Speaker 1: Marcus Ashworth in London would say, there's more to this.
Speaker 2: Okay, yeah, investor. The scrutiny intensified in August, forcing First
Speaker 2: Brands to pause plans to refinance what's six billion dollars
Speaker 2: worth of debt. And finally, let's wrap up with this
Speaker 2: is a drag in European markets today. But BMW issuing
Speaker 2: profit warning. Among other things, they say Chinese volume struggles.
Speaker 2: The shares tumbled yesterday, felt something like seven percent, the
Speaker 2: German automakers at volumes in Chin below expectations. In addition
Speaker 2: to that, they said the US European Union tariff agreement
Speaker 2: that actually has yet to materialize, so that's not final
Speaker 2: terriffs thing. That's one of the big stories. Paul into
Speaker 2: Q four. We're all apoplectic about tariffs what six months ago?
Speaker 1: Yeah? Sure, I mean I don't hear anybody you know groceries.
Speaker 2: I know what is groceries because of tariffs?
Speaker 1: I don't know it's Do we all agree avocados are
Speaker 1: outragiously priced?
Speaker 2: Everything's outrageously priced. I left the food town the other
Speaker 2: day with two small bags and a bill of one
Speaker 2: hundred and ten dollars, so I didn't get much. That
Speaker 2: doesn't play.
Speaker 1: I look at it as per bag and it's frightening.
Speaker 2: So anyway, as far as the tariffs on European imports
Speaker 2: with respect to BMW. They're still at twenty seven and
Speaker 2: a half percent. They're supposed to go down to fifteen
Speaker 2: percent for the automakers. It hasn't happened yet.
Speaker 1: This Stock Movers report from Bloomberg Radio. Check back with
Speaker 1: us throughout the day for the latest roundup of companies
Speaker 1: making news on Wall Street and for the latest market
Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 1: the Bloomberg Business app.