Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This Stock Mover's Report, your roundup of companies making moves
Speaker 2: in the stock market harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg. Stan Curtis starting us off.
Speaker 1: Not with the biggest gainer in the pre market, We'll
Speaker 1: get to that in a moment, but with Synopsis, this
Speaker 1: company's making some news this morning.
Speaker 3: Good morning Dan, Good morning Nathan. Activist investor Elliott Management
Speaker 3: is said to have made a multi billion dollar investment
Speaker 3: in the chip design software company Synopsis, according to people familiar,
Speaker 3: that has those shares trading under ticker SNPs, up about
Speaker 3: two percent in the pre market. A managing partner from
Speaker 3: Elliott said in an email statement that Synopsis is essential
Speaker 3: to the global chip industry and he sees company uniquely
Speaker 3: positioned to benefit as AI drives changes in chip complexity
Speaker 3: and capital investment. The Elliott said it wants to work
Speaker 3: with Synopsis to align execution, profitabibility, and monetization. Those shares
Speaker 3: are down about ten percent year today as it has
Speaker 3: seen some selling as software stocks have taken a hit
Speaker 3: this year.
Speaker 1: All right, now, let's get to the biggest gainer in
Speaker 1: the pre market. This one is not Flute, it's Flutter.
Speaker 1: I was thrown off by the ticker this morning. Why
Speaker 1: is Flutter gaining so much in the pre market.
Speaker 3: Well, it's not March madains brackets as much as we'd
Speaker 3: like to think. It's because of a Wall Street Journal
Speaker 3: report saying that a by parsan pair of US centers
Speaker 3: is introducing legislation today to prohibit CFTC regulated companies from
Speaker 3: listing contracts related to sporting events, or in other words,
Speaker 3: it's going to say they're trying to get prediction markets
Speaker 3: like Calshi and Polymarket out of the sports gambling arena.
Speaker 3: That is driving those shares up. Flutter up about eight
Speaker 3: percent in pre market, and then also its counterpart DraftKings
Speaker 3: up about seven percent as some spaces out for them
Speaker 3: on This follows Friday where Nevada won temporary restraining order
Speaker 3: to prevent Calshi from offering event based contracts related sports. Obviously,
Speaker 3: Nevada is the gaming hub of the US, and it's
Speaker 3: something to note. In the US there's a general ban
Speaker 3: on gambling for those aged under twenty one Calshi and
Speaker 3: Polymarket under their rules are eighteen plus. So there's been
Speaker 3: a lot of ideas that these companies can get in,
Speaker 3: you know, younger users and then hold on to them
Speaker 3: later into the later, into their later through their gambling lives,
Speaker 3: so that they get the first bid. So that's really
Speaker 3: helping out the gambling stocks this morning.
Speaker 1: Okay, so while we watch the gambling stocks, we have
Speaker 1: reason perhaps to keep an eye on the stocks involved
Speaker 1: in the whole Warner Brothers Discovery buyout saga this morning.
Speaker 3: Once again, that's right, Senators getting involved here too. So
Speaker 3: a group of Democratic senators is asking the FCC Chairman,
Speaker 3: Brendan Carr, to investigate the foreign money funding Paramounts guide
Speaker 3: Paramount's takeover bid for Warner Brothers. That's according to Semaphore
Speaker 3: siting a letter to car that has Paramount Skydance shares
Speaker 3: down about two percent in pre market, Warner Brothers shares
Speaker 3: little unchanged. The senators say that the foreign investment from
Speaker 3: China and Gulf States requires thorough FCC reviews. This letter
Speaker 3: was signed by centators including Chuck Schumer, Dick Durbin, Corey Booker,
Speaker 3: Sheldon Whitehouse, and Elizabeth Warren This is not the first
Speaker 3: time that some of the senators have come out. Earlier
Speaker 3: this month's Centers, Warren and Bloomenthal accused that both accused
Speaker 3: the Treasury Department of not scrutinizing the national security concerns
Speaker 3: around this deal enough.
Speaker 2: This stock Moover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
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