WEBVTT - Waters Falls, Autodesk Rises, Palantir Record Highs

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers podcast, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Tim Steinbeck, along with Normal Linda and for Carol Masser.

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>We're joined right now by Christine Aquino. What do you

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<v Speaker 3>have on your radar?

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<v Speaker 1>Well, Tim, let's take a look at Water. Shall we

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<v Speaker 1>biggest decliner on the SP five hundred chick Er WAT

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<v Speaker 1>shares down more than thirteen percent at the close. It's

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<v Speaker 1>the worst performer as mentioned on the S and B

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<v Speaker 1>five hundred, and that is because it's said that it

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<v Speaker 1>will merge with Bechten Dickinson's Bias Sciences and Diagnostic Solutions

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<v Speaker 1>in a reverse Morris trust transaction. That's a mouthful, but

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<v Speaker 1>that's essentially a tax optimization strategy that they often use

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<v Speaker 1>in M and A deals. Just to make it simple,

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<v Speaker 1>but yeah, that was ad a deal valued at about

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<v Speaker 1>seventeen and a half billion dollars. And you know, Water

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<v Speaker 1>is reporting a bunch of synergies, a bunch of cost

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<v Speaker 1>energies and revenue synergies because of this deal. But then

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<v Speaker 1>the word industry is that, you know, investors aren't necessarily

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<v Speaker 1>expected to view this positively in the short term just

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<v Speaker 1>because there's a bit of dilution. It will take time

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<v Speaker 1>to implement these strategies. But you know, Waters is saying

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<v Speaker 1>that they are expecting about three hundred and forty five

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<v Speaker 1>million dollars in annualized EPID DOT synergies by twenty thirty,

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<v Speaker 1>So let's save investors is willing to give it to

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<v Speaker 1>benefit a doubt.

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<v Speaker 4>Eventually I had to talk about that transaction on the

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<v Speaker 4>closing bell. Such a mouthful. It's but, I mean, weirding,

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<v Speaker 4>so many words to put together.

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<v Speaker 3>But I was looking at what.

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<v Speaker 4>The analysts we're saying as well about the stock. Jeffreyes

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<v Speaker 4>was saying that they expect the stock to trade down

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<v Speaker 4>due to deal size and variables added to a clean

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<v Speaker 4>replacement cycle. Story shares are down one about eighteen percent

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<v Speaker 4>urity I.

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<v Speaker 1>One but yeah and yeah, thirty percent of that just

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<v Speaker 1>today not positively received at first blash by investors.

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<v Speaker 4>What else are you looking at?

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<v Speaker 1>Looking at Autodesks and one of the app performers on

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<v Speaker 1>the S and P five hundred today, so take her

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<v Speaker 1>ads CA shares our out up a more than five percent,

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<v Speaker 1>and so this is kind of a reverse of what

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<v Speaker 1>we saw with Water. So this company saying that it

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<v Speaker 1>is no longer pursuing an acquisition of PTC. That is

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<v Speaker 1>according to people familiar with the matter, and so that

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<v Speaker 1>would have ranked as one of the year's largest deal

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<v Speaker 1>so far. But investors weren't necessarily happy about that. So

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<v Speaker 1>the shares have fallen more than ten percent since the

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<v Speaker 1>eighth of July. So that was the day before Bloombergeers

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<v Speaker 1>reported it was considering an acquisition of PTC, and so

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<v Speaker 1>now they're no longer doing that. Investors are taking that

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<v Speaker 1>as a positive sign. Potentially maybe they just didn't like

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<v Speaker 1>the sound of this deal.

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<v Speaker 3>You know, this one was interesting from last week because

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<v Speaker 3>we saw both companies decline after the deal was announced.

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<v Speaker 3>Typically you don't see that when it comes to an acquisition,

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<v Speaker 3>and so there was something that investors didn't love about this.

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<v Speaker 1>Yeah, exactly, and so now they're happy that is no

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<v Speaker 1>longer happening, evidently from the share move today.

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<v Speaker 3>Okay, PLTR is the ticker Palenteer is what we're talking about.

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<v Speaker 3>This is a three hundred and fifty two billion dollar

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<v Speaker 3>market cap.

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<v Speaker 2>Company.

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<v Speaker 3>Absolutely unbelievable.

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<v Speaker 1>Yeah, and it's been on a tier today at tim

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<v Speaker 1>so we did see shares hitting record highs. They're up

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<v Speaker 1>about five percent at the close. We've seen a few

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<v Speaker 1>positives for a Palenteer right The most recent one would

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<v Speaker 1>be President Donald Trump apparently is set to announce a

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<v Speaker 1>seventeen billion dollar investment in artificial intelligence and energy in

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<v Speaker 1>Pennsylvania on Tuesday, So that's tomorrow. That's going to be

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<v Speaker 1>part of the inaugural Pennsylvania Energy and Innovation Summit, and

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<v Speaker 1>executives from Palneer are expected to attend, so potentially we

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<v Speaker 1>could see some tie ins there, and then you know,

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<v Speaker 1>other things going on that are positive for Palenteer. We've

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<v Speaker 1>seen thirteen F filings, Gayway Investment Advisors boosting its stake

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<v Speaker 1>in Palenteer for the thirtieth June order, and the Webish

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<v Speaker 1>analyst Dan Ives last week raising to target to one

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<v Speaker 1>hundred and sixty dollars from one hundred and forty and

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<v Speaker 1>maintaining the outperform rating. So we've just seen a stock

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<v Speaker 1>really kind of steadily take higher over the past week.

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<v Speaker 4>It's interesting, I mean for an investor that hopped in

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<v Speaker 4>on this trade five years ago. Yeah, stock is up

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<v Speaker 4>one nine hundred and fifty seven percent. That's insane.

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<v Speaker 3>I didn't even know it was public back then, right,

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<v Speaker 3>if you could have bought and held it, it's up

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<v Speaker 3>ninety seven percent here today so far this year.

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<v Speaker 4>It's on as tear. It's, as you said, just NonStop

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<v Speaker 4>through the winds.

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<v Speaker 3>Wow, that's pretty amazing.

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<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Check back with

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<v Speaker 1>H