WEBVTT - Confluent Deal Report; Jeffries Slips; BMW Slumps

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market

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<v Speaker 1>harnessing the power of Bloomberg Data. Let's take a look

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<v Speaker 1>at some stocks on the move today. I'm Tim Keen

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<v Speaker 1>with Paul Smeni and Bloomberg's John Tucker.

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<v Speaker 2>Where do you begin? All, Let's begin with CFLT. That's

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<v Speaker 2>the ticker, the company name. They're based in the Valley Confluent.

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<v Speaker 2>It's a data infrastructure company. They have highly sown after

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<v Speaker 2>technology Reuter says they're exploring a sale after they received

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<v Speaker 2>acquisition interest companies working with an investment bank of the

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<v Speaker 2>sale process. It's in the early stages. This was all

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<v Speaker 2>instigated after private equity firms and other tech companies separately

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<v Speaker 2>expressed acquisition interests. Now Confluent became vulnerable to takeover approaches

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<v Speaker 2>early in July. That's when the company reported actually losing

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<v Speaker 2>business from a large customer, and Bloomberg Intelligence writing this morning.

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<v Speaker 2>Confluence potential sale may not immediately offset growth headwinds from

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<v Speaker 2>enterprise spending pullbacks, yet its strong cloud mix, high value clients,

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<v Speaker 2>and heavy marketing spending could attract buyers seeking synergies Synergies Center.

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<v Speaker 2>I love that word. With AI easing use of open

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<v Speaker 2>source tools, a larger partner could help refocus spending on

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<v Speaker 2>product innovation. And if you understood any of that, please

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<v Speaker 2>give us. You know you're killing it to Lord looks next.

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<v Speaker 1>J E. F.

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<v Speaker 2>Jeffries Jeffries Financial Group. They say they have one hundred

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<v Speaker 2>and sixty one million dollars of exposure to funds that

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<v Speaker 2>held a trade receivables and loans the bankrupt autoparts supplier

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<v Speaker 2>First Brands Group the exposure mostly through its point Benita Capital.

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<v Speaker 2>This is a division of its asset management, which manages

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<v Speaker 2>trade finance assets on behalf of third party and other investors.

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<v Speaker 2>Lucadia has a one hundred and thirteen million dollar equity

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<v Speaker 2>stake in the fund. Jefferies also disclosed exposure to First

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<v Speaker 2>Brands through Apex Credit Partners In, which owns a fifty

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<v Speaker 2>percent steak. Thank you for doing this, This is Paul,

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<v Speaker 2>This is like percolating. Yeah, this is how out there

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<v Speaker 2>it's out there.

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<v Speaker 1>Marcus Ashworth in London would say, there's more to this.

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<v Speaker 2>Okay, yeah, investor. The scrutiny intensified in August, forcing First

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<v Speaker 2>Brands to pause plans to refinance what's six billion dollars

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<v Speaker 2>worth of debt. And finally, let's wrap up with this

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<v Speaker 2>is a drag in European markets today. But BMW issuing

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<v Speaker 2>profit warning. Among other things, they say Chinese volume struggles.

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<v Speaker 2>The shares tumbled yesterday, felt something like seven percent, the

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<v Speaker 2>German automakers at volumes in Chin below expectations. In addition

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<v Speaker 2>to that, they said the US European Union tariff agreement

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<v Speaker 2>that actually has yet to materialize, so that's not final

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<v Speaker 2>terriffs thing. That's one of the big stories. Paul into

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<v Speaker 2>Q four. We're all apoplectic about tariffs what six months ago?

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<v Speaker 1>Yeah? Sure, I mean I don't hear anybody you know groceries.

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<v Speaker 2>I know what is groceries because of tariffs?

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<v Speaker 1>I don't know it's Do we all agree avocados are

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<v Speaker 1>outragiously priced?

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<v Speaker 2>Everything's outrageously priced. I left the food town the other

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<v Speaker 2>day with two small bags and a bill of one

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<v Speaker 2>hundred and ten dollars, so I didn't get much. That

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<v Speaker 2>doesn't play.

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<v Speaker 1>I look at it as per bag and it's frightening.

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<v Speaker 2>So anyway, as far as the tariffs on European imports

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<v Speaker 2>with respect to BMW. They're still at twenty seven and

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<v Speaker 2>a half percent. They're supposed to go down to fifteen

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<v Speaker 2>percent for the automakers. It hasn't happened yet.

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<v Speaker 1>This Stock Movers report from Bloomberg Radio. Check back with

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