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 of the stocks on the move today.
Speaker 2: I'm pulsing alongside Scarlet Foo and we're joined by Normal
Speaker 2: Linda Norm.
Speaker 1: What are you looking at it?
Speaker 2: Well, let's kick things off with the stock that's making
Speaker 2: history today. So Electronic Arts is taker EA. We have
Speaker 2: this stock in focus today up as much as five
Speaker 2: point four percent. This, of course is after the historic
Speaker 2: leverage buyout deal that we're seeing happening here. So Electronic
Speaker 2: Arts is agreed to sell to a group of private investors.
Speaker 2: The deal should be about fifty five billion dollars. This
Speaker 2: is the high'st the largest leverage buyout that we've seen
Speaker 2: on record here. So the consorts gain that they're selling
Speaker 2: it toward or are Silver Lake Management, a Saudi Arabia
Speaker 2: public investment fund. They agreed to pay two hundred and
Speaker 2: ten dollars per share in cash for the company, so
Speaker 2: this does report a twenty five percent premium to where
Speaker 2: it shares traded before. Talks did leak here, So this
Speaker 2: is really what's been in focus over the past couple days.
Speaker 2: If you look at the stock right now, up for
Speaker 2: its highest level on record. Shares are up about thirty
Speaker 2: nine percent so far year today. We're also looking at
Speaker 2: defense stocks. Yes, you have to keep an eye on defense.
Speaker 2: I mean that's an area that I covered super closely
Speaker 2: on the equity team before taking on this new role.
Speaker 2: So always going back toward US defense contractors, we're seeing
Speaker 2: shares of the industry really rising today. If you look
Speaker 2: at Lockheed Martin, L three, Harris, rtx's are all pushing
Speaker 2: higher along with Boeing here, and this is after a
Speaker 2: report from the Wall Street Journal the US Department of
Speaker 2: Defense is pushing missile suppliers to quickly double or even
Speaker 2: quadruple production rates here. So pretty bullish call here, of course.
Speaker 2: And you are seeing a broad brace rally here. If
Speaker 2: you look at S one five arrow a e r O.
Speaker 2: That's an index that I tend to track when you
Speaker 2: look at aerospace and defense contractors here, and that or
Speaker 2: that index is up right now, also hitting its highest
Speaker 2: level ever. Lots of green across the screen today.
Speaker 1: Yeah, my number one offspring works at luckeyed Martin, not
Speaker 1: allowed to talk to me.
Speaker 2: About his job.
Speaker 1: He's titles seeing mom. Yeah, that's what they do over there.
Speaker 1: So anyway, so what else we got.
Speaker 2: Lastly, we want to take a look at Occidental Petroleum.
Speaker 2: Let's take our ox Y here also in talks to
Speaker 2: sell it's Oxycom petrochemical unit. The deal is worth at
Speaker 2: least ten billion dollars. That's according to a report from
Speaker 2: the Financial Times this past Sunday. So you are seeing
Speaker 2: shares of Occidental Petroleum hitting their highest level since April's
Speaker 2: clearly lots of optimism today in the market. But the
Speaker 2: divestment would be the US company's biggest yet and would
Speaker 2: create one of the world's largest dandalone petro chemical companies.
Speaker 1: The Stock Movers report from Bloomberg Radio. Check back with
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Speaker 1: making news on Wall Street and for the latest market
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