WEBVTT - Elliott Said to Take Stake in Synopsys; Flutter Rises; Senate Democrats Seek Probe Into Warner Bros. Deal

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

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<v Speaker 2>This Stock Mover's Report, 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 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg. Stan Curtis starting us off.

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<v Speaker 1>Not with the biggest gainer in the pre market, We'll

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<v Speaker 1>get to that in a moment, but with Synopsis, this

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<v Speaker 1>company's making some news this morning.

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<v Speaker 3>Good morning Dan, Good morning Nathan. Activist investor Elliott Management

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<v Speaker 3>is said to have made a multi billion dollar investment

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<v Speaker 3>in the chip design software company Synopsis, according to people familiar,

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<v Speaker 3>that has those shares trading under ticker SNPs, up about

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<v Speaker 3>two percent in the pre market. A managing partner from

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<v Speaker 3>Elliott said in an email statement that Synopsis is essential

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<v Speaker 3>to the global chip industry and he sees company uniquely

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<v Speaker 3>positioned to benefit as AI drives changes in chip complexity

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<v Speaker 3>and capital investment. The Elliott said it wants to work

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<v Speaker 3>with Synopsis to align execution, profitabibility, and monetization. Those shares

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<v Speaker 3>are down about ten percent year today as it has

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<v Speaker 3>seen some selling as software stocks have taken a hit

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<v Speaker 3>this year.

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<v Speaker 1>All right, now, let's get to the biggest gainer in

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<v Speaker 1>the pre market. This one is not Flute, it's Flutter.

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<v Speaker 1>I was thrown off by the ticker this morning. Why

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<v Speaker 1>is Flutter gaining so much in the pre market.

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<v Speaker 3>Well, it's not March madains brackets as much as we'd

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<v Speaker 3>like to think. It's because of a Wall Street Journal

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<v Speaker 3>report saying that a by parsan pair of US centers

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<v Speaker 3>is introducing legislation today to prohibit CFTC regulated companies from

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<v Speaker 3>listing contracts related to sporting events, or in other words,

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<v Speaker 3>it's going to say they're trying to get prediction markets

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<v Speaker 3>like Calshi and Polymarket out of the sports gambling arena.

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<v Speaker 3>That is driving those shares up. Flutter up about eight

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<v Speaker 3>percent in pre market, and then also its counterpart DraftKings

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<v Speaker 3>up about seven percent as some spaces out for them

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<v Speaker 3>on This follows Friday where Nevada won temporary restraining order

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<v Speaker 3>to prevent Calshi from offering event based contracts related sports. Obviously,

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<v Speaker 3>Nevada is the gaming hub of the US, and it's

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<v Speaker 3>something to note. In the US there's a general ban

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<v Speaker 3>on gambling for those aged under twenty one Calshi and

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<v Speaker 3>Polymarket under their rules are eighteen plus. So there's been

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<v Speaker 3>a lot of ideas that these companies can get in,

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<v Speaker 3>you know, younger users and then hold on to them

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<v Speaker 3>later into the later, into their later through their gambling lives,

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<v Speaker 3>so that they get the first bid. So that's really

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<v Speaker 3>helping out the gambling stocks this morning.

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<v Speaker 1>Okay, so while we watch the gambling stocks, we have

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<v Speaker 1>reason perhaps to keep an eye on the stocks involved

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<v Speaker 1>in the whole Warner Brothers Discovery buyout saga this morning.

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<v Speaker 3>Once again, that's right, Senators getting involved here too. So

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<v Speaker 3>a group of Democratic senators is asking the FCC Chairman,

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<v Speaker 3>Brendan Carr, to investigate the foreign money funding Paramounts guide

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<v Speaker 3>Paramount's takeover bid for Warner Brothers. That's according to Semaphore

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<v Speaker 3>siting a letter to car that has Paramount Skydance shares

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<v Speaker 3>down about two percent in pre market, Warner Brothers shares

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<v Speaker 3>little unchanged. The senators say that the foreign investment from

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<v Speaker 3>China and Gulf States requires thorough FCC reviews. This letter

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<v Speaker 3>was signed by centators including Chuck Schumer, Dick Durbin, Corey Booker,

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<v Speaker 3>Sheldon Whitehouse, and Elizabeth Warren This is not the first

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<v Speaker 3>time that some of the senators have come out. Earlier

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<v Speaker 3>this month's Centers, Warren and Bloomenthal accused that both accused

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<v Speaker 3>the Treasury Department of not scrutinizing the national security concerns

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<v Speaker 3>around this deal enough.

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<v Speaker 2>This stock Moover's report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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