WEBVTT - Bayer Rallies; WBD Edges Higher on Takeover Bids; MongoDB Soars on Earnings

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>This Stock Movers report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

0:00:17.079 --> 0:00:19.600
<v Speaker 1>Six fifty five on Wall Street. Let's take a look

0:00:19.600 --> 0:00:21.560
<v Speaker 1>at some stocks on the move today. I'm Nathan Hager,

0:00:21.680 --> 0:00:24.560
<v Speaker 1>joined by Bloomberg Dan Curtis. Starting off with a stock

0:00:24.640 --> 0:00:27.520
<v Speaker 1>on the move in a big way overseas. Dan, but

0:00:27.680 --> 0:00:31.640
<v Speaker 1>this is being affected by action in the US. Tell

0:00:31.720 --> 0:00:33.760
<v Speaker 1>us what's going on with Bayer this morning?

0:00:33.960 --> 0:00:37.960
<v Speaker 3>Morning? Yeah, so Bear, the shares are up over eleven percent.

0:00:38.040 --> 0:00:40.800
<v Speaker 3>As you mentioned, they trade over here in Europe in Germany.

0:00:41.440 --> 0:00:43.920
<v Speaker 3>The Trump administration came out and has urged the US

0:00:43.960 --> 0:00:46.599
<v Speaker 3>Supreme Court to take up buyer's appeal on a Missouri

0:00:46.640 --> 0:00:51.320
<v Speaker 3>lawsuit blaming Roundup weed killer for causing cancer. The recommendation

0:00:51.440 --> 0:00:54.680
<v Speaker 3>came from the US Listener General John Sowery, he oversees

0:00:54.760 --> 0:00:58.240
<v Speaker 3>US for the administration, and Rothschild analyst says that this

0:00:58.320 --> 0:01:01.560
<v Speaker 3>recommendation means that it's very likely the US Supreme Court

0:01:01.600 --> 0:01:04.200
<v Speaker 3>will hear it. About seventy percent of challenges with this

0:01:04.319 --> 0:01:07.480
<v Speaker 3>recommendation do get heard by the Supreme Court. That's less

0:01:07.560 --> 0:01:10.840
<v Speaker 3>that's a lot more than the one percent or fewer

0:01:11.120 --> 0:01:13.479
<v Speaker 3>of just the general appeals that people try to get

0:01:13.800 --> 0:01:17.600
<v Speaker 3>the Supreme Court to hear. So this case kind of centers.

0:01:17.640 --> 0:01:21.199
<v Speaker 3>This appeal centers around federal versus state rights and making

0:01:21.240 --> 0:01:24.360
<v Speaker 3>this decision. But it's about a lawsuit that has played

0:01:24.480 --> 0:01:29.319
<v Speaker 3>bear since at Botman Santo in twenty eighteen. It's focused

0:01:29.360 --> 0:01:33.960
<v Speaker 3>on chemical used up in the weed killer roundup and

0:01:34.240 --> 0:01:38.120
<v Speaker 3>the complaints that it did cause cancer. Again, this is

0:01:38.200 --> 0:01:40.360
<v Speaker 3>just going to be, you know, push the needle towards

0:01:40.400 --> 0:01:44.800
<v Speaker 3>potentially towards Buyer's favor for this appeal, and Buyer said,

0:01:44.880 --> 0:01:48.000
<v Speaker 3>you know, it still has about six billion euros set

0:01:48.000 --> 0:01:52.320
<v Speaker 3>aside for sixty seven thousand cases remaining around the chemical use.

0:01:52.400 --> 0:01:54.720
<v Speaker 3>So more certainty and a little bit more clarity around

0:01:54.720 --> 0:01:58.120
<v Speaker 3>what might happen down the lines legally for this lawsuit

0:01:58.160 --> 0:02:00.640
<v Speaker 3>will will help investors kind of make that decision. So

0:02:00.960 --> 0:02:03.559
<v Speaker 3>that's helping the stock pop over ten percent today.

0:02:04.000 --> 0:02:05.720
<v Speaker 1>Well, we're waiting for some clarity and what's going to

0:02:05.760 --> 0:02:08.600
<v Speaker 1>happen with Warner Brothers Discovery. We're hearing some of the

0:02:08.960 --> 0:02:14.519
<v Speaker 1>potential takeover candidates have been sweetening their bids. Are investors

0:02:14.560 --> 0:02:16.560
<v Speaker 1>putting a bid into Warners this morning.

0:02:17.560 --> 0:02:21.320
<v Speaker 3>They are They are by about two percent higher, bringing

0:02:21.360 --> 0:02:23.640
<v Speaker 3>the stock just shy of twenty five dollars a share.

0:02:24.280 --> 0:02:27.000
<v Speaker 3>And as you mentioned, yeah, so there's three companies that

0:02:27.040 --> 0:02:30.320
<v Speaker 3>are making a bid for Warner Brothers. Those are Netflix, Paramount,

0:02:30.360 --> 0:02:33.880
<v Speaker 3>and Comcast. Netflix is said to have made a primarily

0:02:33.960 --> 0:02:37.200
<v Speaker 3>cash offer for the firm. That's according to people familiar

0:02:37.240 --> 0:02:40.200
<v Speaker 3>with matters, and it's going to help determine the future

0:02:40.200 --> 0:02:43.560
<v Speaker 3>of Warner Brothers. So Comcast, Netflix, they're only interested in

0:02:43.639 --> 0:02:46.800
<v Speaker 3>Warner Brothers studios. If they win, Warner Brothers will continue

0:02:46.840 --> 0:02:50.920
<v Speaker 3>to spin off the cable channels. And again, this offer

0:02:51.080 --> 0:02:54.040
<v Speaker 3>is binding, so as these bids come in, that means

0:02:54.360 --> 0:02:56.440
<v Speaker 3>if Warner Brothers likes the sound of it, the deal

0:02:56.520 --> 0:02:59.000
<v Speaker 3>could and they accept it, the deal could move forward

0:02:59.000 --> 0:03:02.480
<v Speaker 3>pretty quickly. We're in round two of bidding. Waterer Brothers

0:03:02.520 --> 0:03:05.240
<v Speaker 3>is said to want thirty dollars to share. Not sure

0:03:05.280 --> 0:03:07.480
<v Speaker 3>exactly where all the bids came in because the details

0:03:07.480 --> 0:03:10.160
<v Speaker 3>are still trickling out. There may be more rounds, but

0:03:10.240 --> 0:03:12.960
<v Speaker 3>once Warterer Brothers sees a deal that it likes, if

0:03:12.960 --> 0:03:15.400
<v Speaker 3>it does, the deal could move pretty quickly.

0:03:15.760 --> 0:03:18.160
<v Speaker 1>Let's talk about the biggest top side mover this morning,

0:03:18.360 --> 0:03:19.480
<v Speaker 1>Mango dB.

0:03:19.800 --> 0:03:21.360
<v Speaker 2>Why is this stock spiking?

0:03:22.160 --> 0:03:25.919
<v Speaker 3>Yeah, so Mango dB. It's a company that doesn't get

0:03:25.960 --> 0:03:29.799
<v Speaker 3>a lot of general usage from the populations, used more

0:03:29.840 --> 0:03:33.800
<v Speaker 3>by software engineers, but it's a document database company, and

0:03:33.840 --> 0:03:36.440
<v Speaker 3>it has a very flexible structure, so it allows company

0:03:36.560 --> 0:03:41.400
<v Speaker 3>other companies to plug in pretty easily into the document database.

0:03:41.680 --> 0:03:44.000
<v Speaker 3>It reported six hundred and twenty eight million dollars of

0:03:44.040 --> 0:03:46.680
<v Speaker 3>revenue in the third quarter of that topped estimates, and

0:03:46.720 --> 0:03:51.080
<v Speaker 3>the company raised its projections for next year. So that's

0:03:51.200 --> 0:03:53.839
<v Speaker 3>just popping up over twenty percent in pre market.

0:03:54.520 --> 0:03:58.560
<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

0:03:58.640 --> 0:04:01.200
<v Speaker 2>us throughout the day for the late roundup of companies

0:04:01.280 --> 0:04:04.400
<v Speaker 2>making news on Wall Street and for the latest market

0:04:04.400 --> 0:04:08.880
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:08.960 --> 0:04:12.480
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:12.520 --> 0:04:14.000
<v Speaker 2>the Bloomberg Business app.