WEBVTT - Gamestop, Under Armour Plunge; Wendy's Jumps

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

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<v Speaker 2>The Stock Movers 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 3>I'm Carol Master along with Tim Stenwick. Let's get to

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<v Speaker 3>some stocks on the move. Jnisa Socova is with us

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<v Speaker 3>here at Bloomberg. Denisa, where do you want to start.

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<v Speaker 3>Let's start with gmme.

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<v Speaker 4>Yeah, we have to talk about GameStop another day, another

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<v Speaker 4>game stop saga.

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<v Speaker 3>Of course, yesterday we had Rowing Kitty.

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<v Speaker 4>Today we have eBay rejecting a fifty six billion takeover

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<v Speaker 4>from GameStop.

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<v Speaker 3>This whole deal has been really fascinating to me.

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<v Speaker 4>The day close with Jimmy down more than three percent,

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<v Speaker 4>eBay up more than two percent.

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<v Speaker 3>There was a lot of duration in there.

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<v Speaker 4>What eBay says is that the bit is neither credible

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<v Speaker 4>nor attractive.

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<v Speaker 3>There was a lot of criticism.

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<v Speaker 4>They said the offer is not taking in account uncertainty

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<v Speaker 4>around the final stinc plan, operational risks.

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<v Speaker 3>I mean, we've been talking a lot.

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<v Speaker 4>About the math of this deal, which is very complicated.

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<v Speaker 4>GameStop market value is about ten billion, which is less

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<v Speaker 4>than fourth of the value of Vbay.

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<v Speaker 3>You know, there's been a little of questionable math.

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<v Speaker 1>But nevertheless, I do think that people shrud like dismiss

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<v Speaker 1>this very early on. Yeah, I agree with you, like

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<v Speaker 1>too fast because if you actually look at the balance

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<v Speaker 1>sheet for Dame Stop, Ryan Cohen's been able to do.

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<v Speaker 1>He brought this from a company that has one point

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<v Speaker 1>four billion dollars in cash back in twenty twenty three.

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<v Speaker 1>It's got nine billion dollars in cash and cash equivalents.

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<v Speaker 3>Now and they say there was billion.

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<v Speaker 2>Do you get this?

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<v Speaker 1>Yeah, it's I mean you could have.

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<v Speaker 3>It's a very big price stack and they want to

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<v Speaker 3>borrow a seventy billion. I don't know.

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<v Speaker 1>It's a letter from TDY.

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<v Speaker 4>Yeah, yeah, they did have a letter. But it's a

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<v Speaker 4>it's an interesting saga. We're all watching it, and I

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<v Speaker 4>feel so every day there is a new development.

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<v Speaker 3>All right, speaking of sagas, let's get it under Armour

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<v Speaker 3>because they're they're definitely, you know, trying to kind of

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<v Speaker 3>write this ship. And they were doing pretty well so

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<v Speaker 3>far this year. But yesterday and day it's been two

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<v Speaker 3>pretty rough days. Under Armoured declined after its forecast.

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<v Speaker 4>For sales and profit for the fiscal year trailed. What

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<v Speaker 4>was was expecting ticker is UAA in. The stock was

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<v Speaker 4>down seventeen percent today. It was actually headed for double

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<v Speaker 4>dish game before this. They're citing a financial hit from

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<v Speaker 4>the Middle East, from the conflict in the Middle East.

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<v Speaker 3>Annual revenue will decline slightly.

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<v Speaker 4>Quite a few important metric missed analyst expectations, so that's

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<v Speaker 4>definitely a weighing on sentiment. And you know, we've been

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<v Speaker 4>watching this turnaround effort for quite some time and this

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<v Speaker 4>is quite quite a challenge to it.

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<v Speaker 1>Let's talk square Hamburgers.

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<v Speaker 4>Square Hamburgers, Wendy shares well seventeen percent. We're seeing a

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<v Speaker 4>offer by Triumph Fund Management bid to take the company private.

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<v Speaker 4>We've seen this happen a few times, and people are

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<v Speaker 4>wondering if it's going to happen.

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<v Speaker 3>There is a low doubt. Nevertheless, the company.

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<v Speaker 4>Just seventeen percent and big relief for a company that's

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<v Speaker 4>been down more than in the past six years.

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<v Speaker 2>The Stockmover's Report from Bloomberg Radio. Check back with us

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