1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,480 --> 00:00:18,120 Speaker 3: Let's take a look at some of the stocks on 5 00:00:18,280 --> 00:00:21,040 Speaker 3: the move today. I'm with I'm Paul Sweeniam longside Scarlett Flum. 6 00:00:21,079 --> 00:00:23,439 Speaker 3: We're joined by Bloomberg Si Christina, you know, Christine, what 7 00:00:23,480 --> 00:00:24,240 Speaker 3: are you looking at today? 8 00:00:24,280 --> 00:00:26,600 Speaker 1: Well, we got to take a look at Service Now, Paul, 9 00:00:26,680 --> 00:00:29,280 Speaker 1: because it's m and a Monday. So that's why Bloomberg 10 00:00:29,520 --> 00:00:33,239 Speaker 1: News exclusively reporting the company is an advanced talks to 11 00:00:33,320 --> 00:00:37,440 Speaker 1: buy Armis, which is a cybersecurity startup. And those shares 12 00:00:37,640 --> 00:00:41,319 Speaker 1: now down though so tick HERW shares are down more 13 00:00:41,360 --> 00:00:44,400 Speaker 1: than ten percent of so extending some of those opening declines. 14 00:00:44,440 --> 00:00:48,320 Speaker 1: And so from our reporting, people are saying we're familiar 15 00:00:48,320 --> 00:00:51,080 Speaker 1: with the discussions. They're saying that the discussions are advanced. 16 00:00:51,080 --> 00:00:54,000 Speaker 1: Of course, they may still fall apart if another potential 17 00:00:54,040 --> 00:00:57,040 Speaker 1: bidder emerges. And so Bloomer Intelligence has weight in on this. 18 00:00:57,120 --> 00:00:59,840 Speaker 1: They're saying that you know, for now or Service now, 19 00:01:00,000 --> 00:01:03,640 Speaker 1: this would help, it's ib asset management practice. But they're 20 00:01:03,680 --> 00:01:07,200 Speaker 1: just questioning that deal price seven billion dollars to gain 21 00:01:07,319 --> 00:01:10,720 Speaker 1: three hundred million in annualized recurring revenue, which to them 22 00:01:10,720 --> 00:01:11,440 Speaker 1: seems expensive. 23 00:01:11,440 --> 00:01:14,000 Speaker 3: What do you think, Paul, I don't know the multiples here, 24 00:01:14,040 --> 00:01:17,480 Speaker 3: but I mean it's a fast growing business and you 25 00:01:17,480 --> 00:01:20,000 Speaker 3: know you got to put this capital to work somewhere. 26 00:01:20,640 --> 00:01:21,280 Speaker 1: I don't know, I don't have. 27 00:01:21,240 --> 00:01:22,120 Speaker 2: A problem with it. Let's go. 28 00:01:22,760 --> 00:01:25,600 Speaker 3: That's a big, big drop in the stock. Something that 29 00:01:25,680 --> 00:01:29,280 Speaker 3: just tells you that their shareholders weren't like expecting this at. 30 00:01:29,160 --> 00:01:31,080 Speaker 1: All, exactly and clearly not happy with it. 31 00:01:31,200 --> 00:01:33,039 Speaker 3: Yes, exactly, all right, what else we have. 32 00:01:33,280 --> 00:01:35,800 Speaker 1: Let's take a look at Franklin Resources so to be, 33 00:01:36,280 --> 00:01:39,039 Speaker 1: And those shares are up today just slightly one point 34 00:01:39,080 --> 00:01:42,120 Speaker 1: five percent, so that was up slightly more earlier, so 35 00:01:42,240 --> 00:01:44,119 Speaker 1: just bearing some of those opening games. But we did 36 00:01:44,120 --> 00:01:46,679 Speaker 1: get news from the company itself. They said that the 37 00:01:46,760 --> 00:01:49,960 Speaker 1: US Department of Justice is preparing to resolve an investigation 38 00:01:50,120 --> 00:01:54,160 Speaker 1: into its Fixed and Community Western Asset Management Company without 39 00:01:54,320 --> 00:01:57,200 Speaker 1: criminal charges. So clearly that's going to stock a little 40 00:01:57,240 --> 00:02:00,880 Speaker 1: bit this morning. Apparently the Justice Department told the company 41 00:02:00,920 --> 00:02:03,840 Speaker 1: on the thirteenth of December that is prepared to result 42 00:02:03,880 --> 00:02:07,920 Speaker 1: the investigation through a disposition The Department just needs more time. 43 00:02:08,280 --> 00:02:10,560 Speaker 1: So we know that this company has been through a 44 00:02:10,560 --> 00:02:12,760 Speaker 1: lot of turmoil. We've seen clients pull more than one 45 00:02:12,840 --> 00:02:15,840 Speaker 1: hundred billion from Western Asis, specifically since the middle of 46 00:02:15,919 --> 00:02:20,160 Speaker 1: last year. That was when Franklin disclosed that A can Leach, 47 00:02:20,320 --> 00:02:25,440 Speaker 1: which was wimco's former co chief investment officer, was under investigation. 48 00:02:25,560 --> 00:02:27,720 Speaker 1: So it seems like they're eager to put this behind them. Yeah, 49 00:02:27,760 --> 00:02:29,680 Speaker 1: I always go back to the checker, which I love, 50 00:02:30,680 --> 00:02:32,200 Speaker 1: and that's Franklin Resources. 51 00:02:32,320 --> 00:02:34,200 Speaker 2: Okay, you're also taking a look at iRobot. 52 00:02:34,360 --> 00:02:36,359 Speaker 1: We got to talk about Eye Robot. It was very 53 00:02:36,520 --> 00:02:39,280 Speaker 1: iconic at one point in the early two thousands, no 54 00:02:39,639 --> 00:02:43,959 Speaker 1: more so. Those shares ticker ir BT. Those are now 55 00:02:44,040 --> 00:02:48,520 Speaker 1: down more than sixty percent after being halted earlier for volatility, 56 00:02:48,960 --> 00:02:52,400 Speaker 1: and that's because, Yeah, they have five for bankruptcy. So 57 00:02:52,400 --> 00:02:54,920 Speaker 1: it's an end of an era for the maker of 58 00:02:55,120 --> 00:02:57,760 Speaker 1: the Rumba. And so the company is saying that it 59 00:02:57,800 --> 00:03:02,280 Speaker 1: will be taken over by its mainhiny supplier, which is 60 00:03:02,720 --> 00:03:07,040 Speaker 1: Shensen pic A Robotics, as well as a subsidiary of 61 00:03:07,120 --> 00:03:09,440 Speaker 1: that firm, and then a common stock for IRA, but 62 00:03:09,639 --> 00:03:12,799 Speaker 1: will be wiped out under the proposed Chapter eleven plan. 63 00:03:13,040 --> 00:03:15,080 Speaker 1: You know, in twenty twenty two, they actually had an 64 00:03:15,120 --> 00:03:19,440 Speaker 1: opportunity to be bought out by Amazon, but then the 65 00:03:19,520 --> 00:03:24,760 Speaker 1: deal collapsed because they clashed with European competition authority. So no, 66 00:03:24,880 --> 00:03:27,280 Speaker 1: but imagine, imagine their their fortunes if they. 67 00:03:27,160 --> 00:03:28,120 Speaker 3: Do own rumba. 68 00:03:28,880 --> 00:03:31,200 Speaker 1: I own you know, I used to own one, and 69 00:03:31,240 --> 00:03:36,880 Speaker 1: then my cat broke it. Pets and rumbas, that's a 70 00:03:36,960 --> 00:03:37,920 Speaker 1: dangerous combination. 71 00:03:39,040 --> 00:03:39,560 Speaker 3: Exactly. 72 00:03:39,640 --> 00:03:41,440 Speaker 1: It's this moving thing invading their space. 73 00:03:43,040 --> 00:03:44,920 Speaker 3: I've been told it works. I don't know. I just 74 00:03:44,960 --> 00:03:46,680 Speaker 3: I kind of think it's a scam. Actually I have, 75 00:03:46,800 --> 00:03:48,680 Speaker 3: but I'm just like, really is that? I mean, I 76 00:03:48,680 --> 00:03:49,440 Speaker 3: don't know, it's. 77 00:03:49,640 --> 00:03:52,240 Speaker 1: Yeah, it's just sweeping around the house in the middle 78 00:03:52,280 --> 00:03:54,240 Speaker 1: of the night when Paul's not, you know, there to 79 00:03:54,280 --> 00:03:54,760 Speaker 1: monitor it. 80 00:03:54,880 --> 00:03:55,520 Speaker 3: Yeah, exactly. 81 00:03:57,000 --> 00:04:01,040 Speaker 2: This stock mover's report from Bloomberg Radio. Check back with 82 00:04:01,120 --> 00:04:03,680 Speaker 2: us throughout the day for the latest roundup of companies 83 00:04:03,760 --> 00:04:06,840 Speaker 2: making news on Wall Street and for the latest market 84 00:04:06,880 --> 00:04:11,320 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 85 00:04:11,440 --> 00:04:14,920 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 86 00:04:15,000 --> 00:04:16,479 Speaker 2: the Bloomberg Business app.