Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: This Stock Movers 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's Dan Curtis. At the
Speaker 1: start of a holiday shortened trading week, but lots going
Speaker 1: on in the individual stock space, including new developments in
Speaker 1: the Warner Brothers bidding.
Speaker 3: Ward.
Speaker 1: Dan, We've got a Netflix REFI good morning.
Speaker 3: Good morning. It's the deal that keeps on giving. As
Speaker 3: you mentioned on this holiday shortened the week, so lots
Speaker 3: of news out as a Netflix and Paramount both kind
Speaker 3: of battle each other to get a hold of Warner Brothers.
Speaker 3: This morning, we've had news that Netflix has refinanced part
Speaker 3: of a fifty nine billion dollar bridge loan in an
Speaker 3: effort to acquire Warner Brothers. It secured five billion dollars
Speaker 3: in revolving credit and two ten billion dollars delayed draw
Speaker 3: term loans. That leaves about thirty four billion dollars left
Speaker 3: for syndication. Now this comes as Paramount has launched a
Speaker 3: hostile takeover to take a hostile takeover offer to Netflix earlier,
Speaker 3: and paramount has paramount is that offer Netflix? Sorry that
Speaker 3: offer Warner Brothers recommended its shareholders reject. So it's really
Speaker 3: a battle between this hostile takeover and Netflix, and Netflix,
Speaker 3: even with this additional level of financing secured, still has
Speaker 3: to get through regulatory hurdles to get gain approval. Looking
Speaker 3: at prediction markets, they're saying that it's sixty four percent
Speaker 3: chance that Netflix closes the deal. So right now netflixing
Speaker 3: in the lead, and this additional financing will surely help
Speaker 3: push it through.
Speaker 1: Okay, So while that saga continues, maybe into the new year, Dan,
Speaker 1: we have a firmer merger Monday news for a software.
Speaker 3: Maker, that's right, the software maker Clearwear Analytics Tick or CW,
Speaker 3: and that's up eight percent in pre market right now.
Speaker 3: A private equity group led by Permira and Warburg Pinkus
Speaker 3: has agreed to buy the financial service software company and
Speaker 3: it deal worth over eight billion dollars. The shareholders get
Speaker 3: twenty four dollars and fifty five cents a share, and
Speaker 3: that's just a little bit north of the twenty four
Speaker 3: dollars it's trading at in pre market. And these these
Speaker 3: private equity firms do have a history with Clearwater Analytics.
Speaker 3: Both Permira and Warburg helped take the company public four
Speaker 3: years ago at eighteen dollars a share, So four years
Speaker 3: later it's buying it back about six bucks a share.
Speaker 1: Hire The biggest gainer this morning, at least one of
Speaker 1: them Data Vault AI. What's going on with Data Vault
Speaker 1: AI this morning?
Speaker 3: Yeah, that stock is absolutely surging in high volumes too.
Speaker 3: It's up thirty three percent in the pre market. It's
Speaker 3: a five hundred million dollar company, so I had to
Speaker 3: do a little bit digging into this. It's a database
Speaker 3: company that leverages blockchain technology going through the issue and
Speaker 3: so it hits on a lot of the keywords that
Speaker 3: people like hearing right now. You have AI in the name,
Speaker 3: you have the blockchain technology that it tries to leverage,
Speaker 3: and then it also goes into quantum, some quantum encryption.
Speaker 3: So it's a lot a very high tech company. It
Speaker 3: has two patents that have been approved. One is to
Speaker 3: use blockchain to identify content usage, verify licensing and distributing,
Speaker 3: and then distribute fees. The other uses blockchain to register, track,
Speaker 3: license and monetize creative works. Overall, ideas this the patent
Speaker 3: helps allow for both data and creative content to be
Speaker 3: quote unquote tokenized, which is very big in the blockchain community,
Speaker 3: and then monetize, which is one of the company's goals.
Speaker 1: And just quickly found this very interesting. Uber and Lyft
Speaker 1: teaming up on robotaxi in the UK.
Speaker 3: That's right, so Uber and Lyft are both try going
Speaker 3: to be testing out by Do's Apollo Go cars in London.
Speaker 3: This follows Alphabet's Weimo which started testing this year. Bid
Speaker 3: has been really dominating the space for these driver list taxis.
Speaker 3: Those cars already operate in twenty two different cities. This
Speaker 3: will be a test of driving on the left hand
Speaker 3: side of the road though.
Speaker 2: This stockmover's report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
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