Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers podcast, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Tim Steinbeck, along with Normal Linda and for Carol Masser.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: We're joined right now by Christine Aquino. What do you
Speaker 3: have on your radar?
Speaker 1: Well, Tim, let's take a look at Water. Shall we
Speaker 1: biggest decliner on the SP five hundred chick Er WAT
Speaker 1: shares down more than thirteen percent at the close. It's
Speaker 1: the worst performer as mentioned on the S and B
Speaker 1: five hundred, and that is because it's said that it
Speaker 1: will merge with Bechten Dickinson's Bias Sciences and Diagnostic Solutions
Speaker 1: in a reverse Morris trust transaction. That's a mouthful, but
Speaker 1: that's essentially a tax optimization strategy that they often use
Speaker 1: in M and A deals. Just to make it simple,
Speaker 1: but yeah, that was ad a deal valued at about
Speaker 1: seventeen and a half billion dollars. And you know, Water
Speaker 1: is reporting a bunch of synergies, a bunch of cost
Speaker 1: energies and revenue synergies because of this deal. But then
Speaker 1: the word industry is that, you know, investors aren't necessarily
Speaker 1: expected to view this positively in the short term just
Speaker 1: because there's a bit of dilution. It will take time
Speaker 1: to implement these strategies. But you know, Waters is saying
Speaker 1: that they are expecting about three hundred and forty five
Speaker 1: million dollars in annualized EPID DOT synergies by twenty thirty,
Speaker 1: So let's save investors is willing to give it to
Speaker 1: benefit a doubt.
Speaker 4: Eventually I had to talk about that transaction on the
Speaker 4: closing bell. Such a mouthful. It's but, I mean, weirding,
Speaker 4: so many words to put together.
Speaker 3: But I was looking at what.
Speaker 4: The analysts we're saying as well about the stock. Jeffreyes
Speaker 4: was saying that they expect the stock to trade down
Speaker 4: due to deal size and variables added to a clean
Speaker 4: replacement cycle. Story shares are down one about eighteen percent
Speaker 4: urity I.
Speaker 1: One but yeah and yeah, thirty percent of that just
Speaker 1: today not positively received at first blash by investors.
Speaker 4: What else are you looking at?
Speaker 1: Looking at Autodesks and one of the app performers on
Speaker 1: the S and P five hundred today, so take her
Speaker 1: ads CA shares our out up a more than five percent,
Speaker 1: and so this is kind of a reverse of what
Speaker 1: we saw with Water. So this company saying that it
Speaker 1: is no longer pursuing an acquisition of PTC. That is
Speaker 1: according to people familiar with the matter, and so that
Speaker 1: would have ranked as one of the year's largest deal
Speaker 1: so far. But investors weren't necessarily happy about that. So
Speaker 1: the shares have fallen more than ten percent since the
Speaker 1: eighth of July. So that was the day before Bloombergeers
Speaker 1: reported it was considering an acquisition of PTC, and so
Speaker 1: now they're no longer doing that. Investors are taking that
Speaker 1: as a positive sign. Potentially maybe they just didn't like
Speaker 1: the sound of this deal.
Speaker 3: You know, this one was interesting from last week because
Speaker 3: we saw both companies decline after the deal was announced.
Speaker 3: Typically you don't see that when it comes to an acquisition,
Speaker 3: and so there was something that investors didn't love about this.
Speaker 1: Yeah, exactly, and so now they're happy that is no
Speaker 1: longer happening, evidently from the share move today.
Speaker 3: Okay, PLTR is the ticker Palenteer is what we're talking about.
Speaker 3: This is a three hundred and fifty two billion dollar
Speaker 3: market cap.
Speaker 2: Company.
Speaker 3: Absolutely unbelievable.
Speaker 1: Yeah, and it's been on a tier today at tim
Speaker 1: so we did see shares hitting record highs. They're up
Speaker 1: about five percent at the close. We've seen a few
Speaker 1: positives for a Palenteer right The most recent one would
Speaker 1: be President Donald Trump apparently is set to announce a
Speaker 1: seventeen billion dollar investment in artificial intelligence and energy in
Speaker 1: Pennsylvania on Tuesday, So that's tomorrow. That's going to be
Speaker 1: part of the inaugural Pennsylvania Energy and Innovation Summit, and
Speaker 1: executives from Palneer are expected to attend, so potentially we
Speaker 1: could see some tie ins there, and then you know,
Speaker 1: other things going on that are positive for Palenteer. We've
Speaker 1: seen thirteen F filings, Gayway Investment Advisors boosting its stake
Speaker 1: in Palenteer for the thirtieth June order, and the Webish
Speaker 1: analyst Dan Ives last week raising to target to one
Speaker 1: hundred and sixty dollars from one hundred and forty and
Speaker 1: maintaining the outperform rating. So we've just seen a stock
Speaker 1: really kind of steadily take higher over the past week.
Speaker 4: It's interesting, I mean for an investor that hopped in
Speaker 4: on this trade five years ago. Yeah, stock is up
Speaker 4: one nine hundred and fifty seven percent. That's insane.
Speaker 3: I didn't even know it was public back then, right,
Speaker 3: if you could have bought and held it, it's up
Speaker 3: ninety seven percent here today so far this year.
Speaker 4: It's on as tear. It's, as you said, just NonStop
Speaker 4: through the winds.
Speaker 3: Wow, that's pretty amazing.
Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with
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