1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,600 --> 00:00:19,080 Speaker 2: Let's take a look at some stocks on the move today. 5 00:00:19,400 --> 00:00:23,200 Speaker 2: I'm Tom Keen with Paul Sweeney and Bloomberg's Lisa Mantel 6 00:00:23,320 --> 00:00:26,200 Speaker 2: here since three am, getting ready for stock wolfers. 7 00:00:26,280 --> 00:00:26,639 Speaker 1: What do you have? 8 00:00:26,880 --> 00:00:27,160 Speaker 2: All right? 9 00:00:27,200 --> 00:00:30,640 Speaker 3: Let's start a video game maker, Electronic Arts. It's ticker EA. 10 00:00:30,720 --> 00:00:33,080 Speaker 3: Their shares have been up as much as five percent. 11 00:00:33,159 --> 00:00:35,600 Speaker 3: So the main thing is they agreed to sell to 12 00:00:35,640 --> 00:00:37,760 Speaker 3: a group of private investors right, a deal value as 13 00:00:37,760 --> 00:00:41,360 Speaker 3: a company of fifty five billion dollars, the largest leverage 14 00:00:41,400 --> 00:00:44,680 Speaker 3: buyout on record. So this is big news. Who does 15 00:00:44,680 --> 00:00:47,640 Speaker 3: the group include. We've got silver Lake Management, Saudi Arabia's 16 00:00:47,680 --> 00:00:51,000 Speaker 3: public investment fund, Jared Customers, Affinity Partners. They're going to 17 00:00:51,040 --> 00:00:53,560 Speaker 3: pay two hundred and ten dollars per share in cash 18 00:00:53,600 --> 00:00:56,320 Speaker 3: for the company, so that represents a twenty five percent 19 00:00:56,360 --> 00:00:59,200 Speaker 3: premium to wear chairs traded before the talks even leaked 20 00:00:59,280 --> 00:01:04,160 Speaker 3: on Friday, twenty billion in debt financing from JP Morgan Chase. 21 00:01:04,880 --> 00:01:05,920 Speaker 3: So what's going on? 22 00:01:06,080 --> 00:01:06,240 Speaker 1: Right? 23 00:01:06,280 --> 00:01:09,559 Speaker 3: So video game sales. They've soared during the pandemic became huge. 24 00:01:09,600 --> 00:01:11,399 Speaker 3: People were on lockdown. They needed to do something, so 25 00:01:11,400 --> 00:01:14,199 Speaker 3: they went to video games. But it's been slowing down 26 00:01:14,280 --> 00:01:17,440 Speaker 3: ever since then. The company had a number of layoffs. 27 00:01:17,480 --> 00:01:21,040 Speaker 3: There's been a lot of consolidation too. EA is actually 28 00:01:21,040 --> 00:01:24,160 Speaker 3: one of the world's largest independent video game publishers. You have, 29 00:01:24,400 --> 00:01:27,200 Speaker 3: you know, Activision Blizzard, they make the Call of Duty games. 30 00:01:27,240 --> 00:01:31,120 Speaker 3: They were acquired by Microsoft two years ago. So what 31 00:01:31,360 --> 00:01:33,920 Speaker 3: going private will do? They won't have to deal with 32 00:01:33,920 --> 00:01:37,199 Speaker 3: the quarterly earnings investor demands, and they have this big 33 00:01:37,280 --> 00:01:41,480 Speaker 3: draw in sports at private equity firms really like, and 34 00:01:41,520 --> 00:01:44,039 Speaker 3: they're gearing up for Battlefield six October tenth. My son 35 00:01:44,080 --> 00:01:44,840 Speaker 3: already texted me. 36 00:01:45,200 --> 00:01:49,480 Speaker 2: Oh really, thank you for listening, son, MATEO if you 37 00:01:49,640 --> 00:01:52,200 Speaker 2: model into ten per share going back ten years, Paul, 38 00:01:52,200 --> 00:01:55,320 Speaker 2: it's fourteen point seven percent yep per year. Yep. 39 00:01:55,640 --> 00:01:58,000 Speaker 3: Silver Lake a big, big player in the tech space. 40 00:01:58,000 --> 00:01:59,560 Speaker 3: So that's a good name there. 41 00:01:59,600 --> 00:01:59,880 Speaker 1: What else? 42 00:02:00,320 --> 00:02:00,640 Speaker 2: All right? 43 00:02:00,680 --> 00:02:02,520 Speaker 3: So now we go to till Ray Brands's ticker t 44 00:02:03,000 --> 00:02:06,240 Speaker 3: l r Y. Their shares, Yeah, shares have been up 45 00:02:06,240 --> 00:02:10,160 Speaker 3: to sixteen percent weed. Yes, So we're talking about cannabis 46 00:02:10,400 --> 00:02:12,600 Speaker 3: President Donald Trump. This is the reason why. Okay, so 47 00:02:12,680 --> 00:02:13,160 Speaker 3: he posts. 48 00:02:14,639 --> 00:02:15,680 Speaker 2: He posted a. 49 00:02:15,720 --> 00:02:20,440 Speaker 3: Video on social media over the weekend. It praised the 50 00:02:20,560 --> 00:02:24,919 Speaker 3: medical benefits of hemp derived CBD for seniors. So we 51 00:02:25,120 --> 00:02:29,840 Speaker 3: say it's good for seniors. He suggested covering CBD under 52 00:02:29,880 --> 00:02:33,040 Speaker 3: Medicare would be the most important senior health initiative in 53 00:02:33,120 --> 00:02:36,480 Speaker 3: the century. He posted a video along with a clip 54 00:02:36,520 --> 00:02:39,120 Speaker 3: from Fox News. It talked about the economic benefits of 55 00:02:39,160 --> 00:02:43,560 Speaker 3: medical marijuana legalization. It also said, and this was pretty interesting, 56 00:02:43,560 --> 00:02:45,480 Speaker 3: and that on an annual basis, could amount to cost 57 00:02:45,520 --> 00:02:48,320 Speaker 3: savings of sixty four billion a year if cannabis is 58 00:02:48,360 --> 00:02:50,760 Speaker 3: fully integrated into the healthcare. 59 00:02:50,480 --> 00:02:56,200 Speaker 2: This ist l ry yes, Tilly shan twenty one okay, 60 00:02:56,360 --> 00:02:59,000 Speaker 2: down and over the last four years it's gone down 61 00:02:59,000 --> 00:03:03,480 Speaker 2: to one. I think Canadian dollar per share is. 62 00:03:03,400 --> 00:03:07,560 Speaker 3: That it's all about millions, not the gumpany, But it's 63 00:03:07,600 --> 00:03:10,639 Speaker 3: sparking other weed stocks, Kronos, Canopy Growth if you want 64 00:03:10,680 --> 00:03:11,560 Speaker 3: to check out those two. 65 00:03:11,639 --> 00:03:13,400 Speaker 2: Okay, is that a doll compony? 66 00:03:14,680 --> 00:03:18,920 Speaker 3: Next, so Occidental Petroleum. Okay, here we go, take your 67 00:03:18,960 --> 00:03:21,959 Speaker 3: ox y. Their shares have been up about one and 68 00:03:22,000 --> 00:03:25,360 Speaker 3: a half percent. The reason behind this, it's a financial 69 00:03:25,360 --> 00:03:27,560 Speaker 3: Times report. They're saying that the company is in talks 70 00:03:27,560 --> 00:03:31,520 Speaker 3: to sell its oxy petrochemical Union unit in a deal 71 00:03:31,560 --> 00:03:35,160 Speaker 3: worth at least ten billion dollars. So the Financial Times 72 00:03:35,200 --> 00:03:37,120 Speaker 3: is saying it's going to create one of the world's 73 00:03:37,200 --> 00:03:42,480 Speaker 3: largest standalone petrochemical companies. Occidental, you know back by Warren Buffett. 74 00:03:42,480 --> 00:03:44,520 Speaker 3: It's been kind of divesting a STCN and effort to 75 00:03:44,520 --> 00:03:47,160 Speaker 3: introduce debt, so it has that tie to it too. 76 00:03:47,200 --> 00:03:49,880 Speaker 3: But those shares here gaining about one and a half percent, 77 00:03:51,000 --> 00:03:52,880 Speaker 3: And since we have a few more minutes, I just 78 00:03:52,960 --> 00:03:54,800 Speaker 3: want to sneak in one more. This is Dutch drug 79 00:03:54,840 --> 00:03:58,320 Speaker 3: maker Maris. Their shares have been up thirty seven percent, 80 00:03:58,320 --> 00:04:03,000 Speaker 3: as much as thirty seven percent Danish biotech technology company Genmab, 81 00:04:03,120 --> 00:04:05,960 Speaker 3: so they want to buy the company for eight billion dollars. 82 00:04:06,440 --> 00:04:09,280 Speaker 3: Maris developing this treatment for cancer for the head and neck, 83 00:04:09,440 --> 00:04:11,440 Speaker 3: so we have some possible merger. 84 00:04:13,000 --> 00:04:17,240 Speaker 1: The Stockmover's report from Bloomberg Radio. 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