WEBVTT - Warner Bros., Spotify Jump; Robinhood Sinks Ahead of 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>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.280
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.480 --> 0:00:18.840
<v Speaker 3>I'm Jim Steneveeck along with Carol Masser. Let's take a

0:00:18.880 --> 0:00:20.919
<v Speaker 3>look at some stocks on the move today. With us

0:00:20.960 --> 0:00:25.200
<v Speaker 3>is Bloomberg Television Markets correspondent Nora, Melinda, Nora, what are

0:00:25.239 --> 0:00:25.640
<v Speaker 3>you watching?

0:00:26.079 --> 0:00:28.240
<v Speaker 4>Well, I've got my eyes on the Warner Brothers Discovery

0:00:28.240 --> 0:00:32.360
<v Speaker 4>saga that we've been seeing instday into a week into

0:00:32.360 --> 0:00:35.360
<v Speaker 4>a week. Well, Warner Brothers Discovery did confirm that it

0:00:35.400 --> 0:00:39.159
<v Speaker 4>received an amended tender offer from Paramount's Guidance, which we

0:00:39.159 --> 0:00:42.320
<v Speaker 4>know has really been vying for this company in addition

0:00:42.440 --> 0:00:45.519
<v Speaker 4>to its competitor Netflix for this So Warner Brothers Discovery

0:00:45.560 --> 0:00:48.920
<v Speaker 4>says that it will quote carefully review and consider the offer.

0:00:48.960 --> 0:00:50.960
<v Speaker 4>We do know that Paramounts Guidance was really just trying

0:00:51.000 --> 0:00:53.519
<v Speaker 4>to address some of the concerns that they felt that

0:00:53.520 --> 0:00:56.560
<v Speaker 4>Warner Brothers Discovery had that was preventing this deal from

0:00:56.560 --> 0:00:59.480
<v Speaker 4>going through. So Paramounts Guidance in a statement today that

0:01:00.080 --> 0:01:03.560
<v Speaker 4>over two point eight billion dollar termination fee that Warner

0:01:03.600 --> 0:01:06.680
<v Speaker 4>Brothers would have to pay if it actually ended that

0:01:06.840 --> 0:01:09.240
<v Speaker 4>already agreed upon deal with uh.

0:01:09.360 --> 0:01:11.560
<v Speaker 1>Now does that make it a better deal that to me?

0:01:11.560 --> 0:01:13.800
<v Speaker 1>If it doesn't work, we're going to pay you more money, right,

0:01:14.080 --> 0:01:17.039
<v Speaker 1>I mean no, we'll see if they take it.

0:01:17.160 --> 0:01:19.080
<v Speaker 4>I mean, this is interesting. We do see shares of

0:01:19.080 --> 0:01:23.440
<v Speaker 4>Warner Brothers, Discovery, Tacker WBD up about two percent, but Paramounts,

0:01:23.440 --> 0:01:26.720
<v Speaker 4>Guidance and Netflix also in the green. So clearly Netflix

0:01:26.760 --> 0:01:29.679
<v Speaker 4>shareholders doesn't seem as though they're too threatened over this.

0:01:29.760 --> 0:01:32.800
<v Speaker 1>I love, make it stop. Our BI team said, we

0:01:32.800 --> 0:01:35.280
<v Speaker 1>don't expect Warner Brothers Discoveries Board to engage unless the

0:01:35.280 --> 0:01:37.000
<v Speaker 1>base bit is raised to at least thirty two dollars

0:01:37.040 --> 0:01:39.280
<v Speaker 1>a year. I remember that Netflix is already treating this.

0:01:39.480 --> 0:01:41.840
<v Speaker 4>Like they have it right, like it's in the bag, like.

0:01:41.800 --> 0:01:45.279
<v Speaker 1>It's which is interesting. Okay, wait for the streaming series, Matt.

0:01:45.120 --> 0:01:49.280
<v Speaker 2>All right, yeah, no I twelve season, Yeah, yeah, exactly.

0:01:49.960 --> 0:01:53.560
<v Speaker 4>We'll speak speaking of streaming, let's talk about music streaming.

0:01:53.640 --> 0:01:56.040
<v Speaker 1>Let's go there, nice Spotify.

0:01:55.600 --> 0:01:58.640
<v Speaker 4>Tick oer spot We're seeing shares on a tear today

0:01:58.720 --> 0:02:00.680
<v Speaker 4>up for double digit gains early, up as much as

0:02:00.680 --> 0:02:03.760
<v Speaker 4>twenty percent. That is the biggest drump in jumping nearly

0:02:03.840 --> 0:02:07.120
<v Speaker 4>eight years. This is after it reported a record number

0:02:07.200 --> 0:02:10.680
<v Speaker 4>of users last quarter. But they also pointed to Spotify

0:02:10.880 --> 0:02:12.800
<v Speaker 4>rapped and if you guys are not familiar, you know

0:02:12.840 --> 0:02:15.280
<v Speaker 4>that's where Spotify releases your top songs at the end

0:02:15.280 --> 0:02:15.720
<v Speaker 4>of an hour.

0:02:15.960 --> 0:02:19.919
<v Speaker 1>That was so wrong, was it? Oh? Yeah, the data?

0:02:20.120 --> 0:02:22.040
<v Speaker 3>No, I mean it said my listening age was like

0:02:22.080 --> 0:02:24.239
<v Speaker 3>in the fifties or sixties or seventy seventies.

0:02:24.280 --> 0:02:24.560
<v Speaker 2>Maybe.

0:02:24.720 --> 0:02:26.519
<v Speaker 1>Oh, and it makes no sense because.

0:02:26.840 --> 0:02:27.480
<v Speaker 4>You don't agree.

0:02:27.919 --> 0:02:29.520
<v Speaker 1>No, I mean it was totally wrong.

0:02:30.880 --> 0:02:33.240
<v Speaker 4>Well, I mean, I do yours right. I think mine

0:02:33.360 --> 0:02:35.280
<v Speaker 4>was like decently right. But I think that the whole

0:02:35.280 --> 0:02:37.240
<v Speaker 4>point of the age thing is to say, like, your

0:02:37.280 --> 0:02:39.160
<v Speaker 4>listening ear is similar to that of.

0:02:39.520 --> 0:02:41.320
<v Speaker 1>Seven guarantee you it's not.

0:02:41.720 --> 0:02:45.200
<v Speaker 3>Yeah, oh wait, so yours was a kid like that's

0:02:45.240 --> 0:02:46.480
<v Speaker 3>what they're saying seventies.

0:02:46.600 --> 0:02:48.400
<v Speaker 1>Yeah, that's what. But it's like my thing is like

0:02:48.560 --> 0:02:49.840
<v Speaker 1>kid music and Bony Verre.

0:02:50.280 --> 0:02:52.000
<v Speaker 4>It's okay, still offended.

0:02:52.560 --> 0:02:54.600
<v Speaker 1>No, it's just like it's just even.

0:02:54.520 --> 0:02:57.680
<v Speaker 3>Me returns to seventy year old could listen to, Oh

0:02:57.840 --> 0:03:02.080
<v Speaker 3>it's five Bunny Taylor Swift, good stuff. I'm not listening

0:03:02.160 --> 0:03:04.839
<v Speaker 3>to that. We're listening to like Elmo stuff. Okay, so

0:03:05.160 --> 0:03:06.640
<v Speaker 3>that's why it doesn't make any sense.

0:03:06.919 --> 0:03:08.400
<v Speaker 4>I'd have to take a look at your top songs.

0:03:08.400 --> 0:03:12.000
<v Speaker 1>Maybe there's any algorithm, all right, but nonetheless that's what

0:03:12.040 --> 0:03:14.000
<v Speaker 1>they're saying, except for tim it works.

0:03:14.040 --> 0:03:16.480
<v Speaker 4>Apart from tim it works apparently, so.

0:03:16.840 --> 0:03:19.720
<v Speaker 1>I mean often running right, Yeah, all right, I mean a.

0:03:19.639 --> 0:03:20.600
<v Speaker 4>Lot of people love it.

0:03:20.600 --> 0:03:22.880
<v Speaker 1>It did raise the prices on me recently, and guess

0:03:22.919 --> 0:03:24.720
<v Speaker 1>what I'm gonna do? What you keep paying?

0:03:24.840 --> 0:03:24.960
<v Speaker 4>Oh?

0:03:25.000 --> 0:03:27.400
<v Speaker 1>Okay, but do you have Apple Music too? No, you

0:03:27.400 --> 0:03:29.040
<v Speaker 1>have to choose one of the other carols. We're an

0:03:29.080 --> 0:03:29.960
<v Speaker 1>Apple music families.

0:03:30.040 --> 0:03:32.239
<v Speaker 3>Okay, it probably would be a better deal if I

0:03:32.320 --> 0:03:35.120
<v Speaker 3>bundled Apple with you know, all my stuff, but I'm

0:03:35.160 --> 0:03:37.400
<v Speaker 3>not going to like pour it over the playlist.

0:03:37.680 --> 0:03:42.880
<v Speaker 1>Give Apple so much music. Let's go to Robinhood.

0:03:42.960 --> 0:03:45.280
<v Speaker 4>Yes, Robinhood. We know that this company is reporting after

0:03:45.320 --> 0:03:48.280
<v Speaker 4>the closing bell, So we did see shares reversing their

0:03:48.320 --> 0:03:50.960
<v Speaker 4>earlier gains. But we did see that Wolf Research actually

0:03:51.040 --> 0:03:53.560
<v Speaker 4>raised the stock to app perform from peer perform. The

0:03:53.560 --> 0:03:57.240
<v Speaker 4>analysts over there or citing the idea of potential upside

0:03:57.280 --> 0:04:00.080
<v Speaker 4>from prediction markets growth, which we know has been a

0:04:00.120 --> 0:04:02.600
<v Speaker 4>massive topic. I'm sure you know all about this. I

0:04:02.600 --> 0:04:05.600
<v Speaker 4>heard you talking about it earlier today, Tim about prediction markets,

0:04:05.640 --> 0:04:08.600
<v Speaker 4>but apparently that's a tailwind for this company. We are

0:04:08.640 --> 0:04:10.760
<v Speaker 4>seeing that they'll be reporting after the closing belt today.

0:04:11.000 --> 0:04:14.560
<v Speaker 4>Shares with the stock though take her hood down twenty

0:04:14.600 --> 0:04:17.960
<v Speaker 4>four percent so far this year. It is just February.

0:04:18.600 --> 0:04:22.640
<v Speaker 2>This stock movers report from Bloomberg Radio. Check back with

0:04:22.720 --> 0:04:25.280
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:25.360 --> 0:04:28.480
<v Speaker 2>making news on Wall Street and for the latest market

0:04:28.480 --> 0:04:32.960
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:33.040 --> 0:04:36.560
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:36.640 --> 0:04:38.119
<v Speaker 2>the Bloomberg Business app.