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 --> 00:00:16,320 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,079 Speaker 2: Let's take a look at some of the socks on 5 00:00:18,120 --> 00:00:19,759 Speaker 2: the move today. I'm Paul Sweeing with Jess Mett in 6 00:00:19,800 --> 00:00:22,200 Speaker 2: Bloomberg's Lisa Matteo, what do you have for us? Lisa? 7 00:00:22,200 --> 00:00:22,479 Speaker 2: All right? 8 00:00:22,520 --> 00:00:24,000 Speaker 3: I want to start with Tesla because their shares have 9 00:00:24,000 --> 00:00:25,759 Speaker 3: been up as much as two percent before the bell. 10 00:00:26,239 --> 00:00:28,360 Speaker 3: The big news is that it approved an interim stock 11 00:00:28,360 --> 00:00:31,600 Speaker 3: award worth about thirty billion dollars for Elon Musk. So 12 00:00:31,760 --> 00:00:34,559 Speaker 3: what it does. It includes ninety six million shares of 13 00:00:34,600 --> 00:00:37,960 Speaker 3: the company that will vest if must continues to serve 14 00:00:38,200 --> 00:00:41,639 Speaker 3: as lead for another two years. Now. He also has 15 00:00:41,680 --> 00:00:44,080 Speaker 3: to hold onto the shares for five years from the 16 00:00:44,080 --> 00:00:47,159 Speaker 3: grand date. But the board actually stressed the importance of 17 00:00:47,560 --> 00:00:50,400 Speaker 3: keeping him right, saying in a shareholder letter that it 18 00:00:50,440 --> 00:00:53,400 Speaker 3: was the first step to quote good faith payment. It 19 00:00:53,440 --> 00:00:55,440 Speaker 3: also said it's going to put a longer term CEO 20 00:00:55,520 --> 00:00:59,360 Speaker 3: compensation strategy ahead of a vote at Tesla's November sixth meeting. 21 00:00:59,440 --> 00:01:02,120 Speaker 3: So we'll wait for that. But you remember I mean 22 00:01:02,240 --> 00:01:05,360 Speaker 3: this legal fights still taking place over that twenty eighteen 23 00:01:05,400 --> 00:01:08,000 Speaker 3: pay package. So that's kind of the big reason why 24 00:01:08,000 --> 00:01:09,440 Speaker 3: the board is saying, you know what, we need to 25 00:01:09,480 --> 00:01:12,440 Speaker 3: act now to keep him. With so much in the news, 26 00:01:12,480 --> 00:01:15,040 Speaker 3: we've heard about the battle for AI talent right Tesla's 27 00:01:15,040 --> 00:01:17,920 Speaker 3: position as what it calls a critical inflection point. So 28 00:01:17,959 --> 00:01:21,399 Speaker 3: that's why there was shares are higher this morning. And 29 00:01:21,440 --> 00:01:24,880 Speaker 3: then we have this company, com Scope. Okay, their shares 30 00:01:24,920 --> 00:01:27,800 Speaker 3: have been jumping as much as seventy eight percent. It's 31 00:01:27,840 --> 00:01:32,240 Speaker 3: sticker comm. The reason why, well, it's agreed to sell 32 00:01:32,280 --> 00:01:36,600 Speaker 3: its connectivity cable solution segments to Connecticut base Afhanol for 33 00:01:36,640 --> 00:01:39,000 Speaker 3: about ten and a half billion dollars in cash and 34 00:01:39,120 --> 00:01:42,200 Speaker 3: Phenol shares have been up about four percent before the bell, 35 00:01:42,280 --> 00:01:44,720 Speaker 3: but the deal expected to close in the first half 36 00:01:44,760 --> 00:01:48,480 Speaker 3: of twenty twenty six. Comscope, they've really been working to 37 00:01:48,760 --> 00:01:52,320 Speaker 3: unload their assets years of struggling with increasing debt. This 38 00:01:52,480 --> 00:01:55,680 Speaker 3: is actually the second deal in locked in with Amphenol. 39 00:01:55,800 --> 00:01:58,800 Speaker 3: In July twenty thwenty four, it sold its mobile networks 40 00:01:58,840 --> 00:02:02,000 Speaker 3: business to the company for two point one billion and 41 00:02:02,040 --> 00:02:04,160 Speaker 3: they use the proceeds to repay their debts. So they're 42 00:02:04,200 --> 00:02:09,000 Speaker 3: just trying to lock in on repaying their debt. In December, 43 00:02:09,040 --> 00:02:11,239 Speaker 3: they reached a deal to refinance about four point three 44 00:02:11,360 --> 00:02:14,560 Speaker 3: billion in debt with creditors. But Infanol has really been 45 00:02:14,560 --> 00:02:17,679 Speaker 3: making the string of acquisitions in recent years. Or Connecticut 46 00:02:17,680 --> 00:02:21,560 Speaker 3: based company. They designed things like fiber optic connectors, antennas, 47 00:02:21,960 --> 00:02:24,800 Speaker 3: specialty catas at cables. And then the thing with this 48 00:02:24,960 --> 00:02:27,760 Speaker 3: is that the surgeon AI. Because of that, they've really 49 00:02:27,800 --> 00:02:30,760 Speaker 3: seen an increase in demand for their products as well. 50 00:02:31,560 --> 00:02:35,079 Speaker 3: And I have to point out Warren Buffet's berkshare Hathaway. Okay, 51 00:02:35,320 --> 00:02:38,000 Speaker 3: their shares have been up down more than half a percent. 52 00:02:38,720 --> 00:02:40,959 Speaker 3: It took a three point eight billion dollar impairment on 53 00:02:41,080 --> 00:02:43,760 Speaker 3: its craft hind Steak. It's cash pile filled to three 54 00:02:43,880 --> 00:02:46,839 Speaker 3: hundred and forty four billion dollars. This is the first 55 00:02:46,880 --> 00:02:50,240 Speaker 3: decline in three years. You had an analyst right analyst 56 00:02:50,400 --> 00:02:52,480 Speaker 3: was sounding in. An analyst from Edward Jones said the 57 00:02:52,520 --> 00:02:55,800 Speaker 3: write down was quote overdue, saying you could argue that 58 00:02:55,840 --> 00:02:57,680 Speaker 3: they should have done it a couple of years ago. 59 00:02:58,240 --> 00:03:00,600 Speaker 3: But craft Hens now considering us been off of its 60 00:03:00,639 --> 00:03:02,400 Speaker 3: business because it's dealing with a lot of things like 61 00:03:02,440 --> 00:03:05,760 Speaker 3: a lot of companies. Inflation weighing on consumer spending, and 62 00:03:05,840 --> 00:03:09,880 Speaker 3: people also looking for those healthier alternatives to their products, 63 00:03:10,280 --> 00:03:13,639 Speaker 3: so that's kind of weighing on the company too. And lastly, 64 00:03:13,760 --> 00:03:15,320 Speaker 3: I want to have to point out what. 65 00:03:15,960 --> 00:03:19,920 Speaker 2: I want to No, no, no, no. Blaide Air Mobility. 66 00:03:19,400 --> 00:03:22,200 Speaker 3: Oh yes, yes, yes. Have you have you heard about. 67 00:03:22,560 --> 00:03:25,600 Speaker 2: Rob Weisenthal, my colleague from Credit Swiss First Boston. He's 68 00:03:25,639 --> 00:03:27,760 Speaker 2: the CEO there, so oh no kidding? 69 00:03:27,840 --> 00:03:30,240 Speaker 3: Yeah, okay, well, hell hello, there's shares are storing up 70 00:03:30,240 --> 00:03:36,120 Speaker 3: about twenty six percent. It's a helicopter ride share operator. Yeah, 71 00:03:36,160 --> 00:03:38,920 Speaker 3: so sourcer as saying joby Aviation is said to be 72 00:03:38,920 --> 00:03:42,720 Speaker 3: looking to buy the company, and so now jobya Aviation. 73 00:03:42,840 --> 00:03:45,160 Speaker 3: Those shares are up about six percent, but that's actually 74 00:03:45,200 --> 00:03:46,080 Speaker 3: a pretty big market. 75 00:03:47,160 --> 00:03:51,200 Speaker 1: The Stock Movers report from Bloomberg Radio. Check back with 76 00:03:51,280 --> 00:03:53,880 Speaker 1: us throughout the day for the latest roundup of companies 77 00:03:53,920 --> 00:03:57,000 Speaker 1: making news on Wall Street and for the latest market 78 00:03:57,040 --> 00:04:01,520 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 79 00:04:01,600 --> 00:04:05,120 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 80 00:04:05,200 --> 00:04:06,640 Speaker 1: the Bloomberg Business app.