1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:18,520 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,560 --> 00:00:21,959 Speaker 1: I'm Nathan Hager, joined by Bloomberg Stan Curtis with the 6 00:00:22,079 --> 00:00:26,360 Speaker 1: update on Universal Music Group. A big bid this morning, 7 00:00:27,080 --> 00:00:30,560 Speaker 1: with one big name potentially thinking of buying the company. 8 00:00:30,560 --> 00:00:31,600 Speaker 1: Good morning Dan. 9 00:00:32,159 --> 00:00:35,360 Speaker 3: Good morning Nathan. That's right. Billionaire activist Bill Ackman is 10 00:00:35,360 --> 00:00:38,280 Speaker 3: proposing a deal with Universal Media Group which could be 11 00:00:38,400 --> 00:00:43,159 Speaker 3: worth sixty five billion dollars. Ackman's Pershing Square proposed a 12 00:00:43,200 --> 00:00:46,199 Speaker 3: merger with the company to merge the company with a 13 00:00:46,320 --> 00:00:50,800 Speaker 3: US based acquisition company, effectively moving the listing from Amsterdam 14 00:00:50,880 --> 00:00:54,600 Speaker 3: to New York. Pershing's proposal would give UMG shareholders just 15 00:00:54,720 --> 00:00:57,240 Speaker 3: over five years per share plus a stake in the 16 00:00:57,280 --> 00:01:01,120 Speaker 3: new company. Those shares are up of ten percent in 17 00:01:01,240 --> 00:01:04,640 Speaker 3: Amsterdam trading. They're around nineteen year ows a share That 18 00:01:04,840 --> 00:01:09,720 Speaker 3: is well below the approximately thirty euro a share value 19 00:01:09,720 --> 00:01:12,200 Speaker 3: that Ackman has assigned to this deal. And that's because 20 00:01:12,240 --> 00:01:15,520 Speaker 3: of uncertainty it looms over the company. Because French billionaire 21 00:01:15,720 --> 00:01:19,520 Speaker 3: Vincent Bulleray has an eighteen percent steak and an extra 22 00:01:19,600 --> 00:01:22,560 Speaker 3: ten percent steak if you add in his Vivendi holding 23 00:01:23,760 --> 00:01:27,000 Speaker 3: proxy steak, and that has been that is leading to 24 00:01:27,040 --> 00:01:31,320 Speaker 3: some certainty, uncertainty over whether this deal will actually get done. 25 00:01:31,440 --> 00:01:33,920 Speaker 3: The shares are surging most nearly three years, but they 26 00:01:33,920 --> 00:01:36,479 Speaker 3: are still down over thirty percent from last year's high. 27 00:01:36,600 --> 00:01:38,840 Speaker 1: All right, well, well we wait for that possibility of 28 00:01:39,000 --> 00:01:42,240 Speaker 1: Universal music shifting. It's listing to New York. The stocks 29 00:01:42,280 --> 00:01:45,080 Speaker 1: that are trading on Wall Street to the upside the 30 00:01:45,120 --> 00:01:48,919 Speaker 1: most this morning, really dominated by health insurance. 31 00:01:49,680 --> 00:01:50,160 Speaker 2: That's right. 32 00:01:50,280 --> 00:01:53,800 Speaker 3: So Humana is up nine percent in the pre market 33 00:01:54,120 --> 00:01:59,400 Speaker 3: market ticker hum Other insurance companies CBS six percent, and 34 00:01:59,520 --> 00:02:02,920 Speaker 3: United Health up over five percent in the pre market. 35 00:02:03,080 --> 00:02:06,120 Speaker 3: That says the US Medicare program says it will pay 36 00:02:06,160 --> 00:02:08,640 Speaker 3: private insurres nearly two and a half percent more in 37 00:02:08,680 --> 00:02:12,639 Speaker 3: twenty twenty seven. That was higher the initial proposal in January, 38 00:02:12,840 --> 00:02:15,880 Speaker 3: which was originally going to be a flat rate. JP 39 00:02:16,000 --> 00:02:18,560 Speaker 3: Morgan TD Cowan analysts were looking for a one to 40 00:02:18,560 --> 00:02:21,520 Speaker 3: one point five increase in the figure. So this coming 41 00:02:21,560 --> 00:02:25,880 Speaker 3: in stronger than what Wall Street had expected. That level 42 00:02:25,919 --> 00:02:29,120 Speaker 3: influences how much of nearly half a trillion dollars flow 43 00:02:29,200 --> 00:02:32,359 Speaker 3: through to private healthcare plan plans, and the change is 44 00:02:32,400 --> 00:02:36,280 Speaker 3: expected to add over thirteen billion dollars in additional payments 45 00:02:36,400 --> 00:02:39,720 Speaker 3: to Medicare and to Medicare advantage plans. So this is 46 00:02:39,760 --> 00:02:43,600 Speaker 3: a positive as positive sign for those insurers this morning. 47 00:02:43,600 --> 00:02:47,600 Speaker 1: And some positive signs as well for Broadcom some potential 48 00:02:47,639 --> 00:02:48,840 Speaker 1: deal news of a sort. 49 00:02:48,639 --> 00:02:52,440 Speaker 3: There, that's right, So Broadcom announced a long term agreement 50 00:02:52,480 --> 00:02:56,320 Speaker 3: with Google to develop and supply something called tensor processing units. 51 00:02:56,360 --> 00:02:58,840 Speaker 3: These are chips that were originally used for search but 52 00:02:58,960 --> 00:03:03,000 Speaker 3: have found renewed demand a from AI users. Shares of 53 00:03:03,040 --> 00:03:06,440 Speaker 3: Broadcom take our avgo up nearly three percent in the 54 00:03:06,480 --> 00:03:09,959 Speaker 3: pre market. Alphabet has just turned flat. That was trading 55 00:03:10,040 --> 00:03:13,920 Speaker 3: up one percent earlier this morning. This deal has it 56 00:03:13,960 --> 00:03:17,239 Speaker 3: so Broadcom will take Google specifications and create fully formed 57 00:03:17,240 --> 00:03:20,400 Speaker 3: designs that can then be sent for manufacturing, and both 58 00:03:20,440 --> 00:03:24,320 Speaker 3: companies will work with Anthropic, the AI company behind Claude, 59 00:03:24,320 --> 00:03:26,880 Speaker 3: which is considered one of the best AI models right now, 60 00:03:27,080 --> 00:03:29,400 Speaker 3: and that will eventually give the AI company access to 61 00:03:29,440 --> 00:03:33,079 Speaker 3: three point five gigawatts of computing power. Nvidia is down 62 00:03:33,160 --> 00:03:37,320 Speaker 3: over one percent as its chips face increasing competition. 63 00:03:37,080 --> 00:03:39,720 Speaker 1: And just quickly, Dan, why are we seeing Apple shares 64 00:03:39,720 --> 00:03:40,520 Speaker 1: in the red this morning? 65 00:03:40,920 --> 00:03:43,160 Speaker 3: So we have a report from Nike saying that Apple's 66 00:03:43,200 --> 00:03:48,040 Speaker 3: foldable iPhone has hit engineering snags that has the shares 67 00:03:48,080 --> 00:03:50,760 Speaker 3: down about one percent in the pre market. The report 68 00:03:51,080 --> 00:03:54,320 Speaker 3: cited unidentified people saying the first shipments could be delayed 69 00:03:54,320 --> 00:03:57,040 Speaker 3: by months. Apple is under pressure to catch up to 70 00:03:57,080 --> 00:04:00,200 Speaker 3: competitor Samsung, which released its first foldable phone over six 71 00:04:00,320 --> 00:04:04,520 Speaker 3: years ago. However, those delays are seen potentially pushing this 72 00:04:04,600 --> 00:04:06,000 Speaker 3: release out even farther. 73 00:04:07,040 --> 00:04:11,280 Speaker 2: This Stockmover's report from Bloomberg Radio. Check back with us 74 00:04:11,280 --> 00:04:14,080 Speaker 2: throughout the day for the latest roundup of companies making 75 00:04:14,160 --> 00:04:17,800 Speaker 2: news on Wall Street and for the latest market moving headlines. 76 00:04:18,000 --> 00:04:21,960 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 77 00:04:22,040 --> 00:04:25,120 Speaker 2: dot com, and on Applecarplay and Android Auto with the 78 00:04:25,160 --> 00:04:26,520 Speaker 2: Bloomberg Business app.