Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move today. I'm with I'm Paul Sweeniam longside Scarlett Flum.
Speaker 3: We're joined by Bloomberg Si Christina, you know, Christine, what
Speaker 3: are you looking at today?
Speaker 1: Well, we got to take a look at Service Now, Paul,
Speaker 1: because it's m and a Monday. So that's why Bloomberg
Speaker 1: News exclusively reporting the company is an advanced talks to
Speaker 1: buy Armis, which is a cybersecurity startup. And those shares
Speaker 1: now down though so tick HERW shares are down more
Speaker 1: than ten percent of so extending some of those opening declines.
Speaker 1: And so from our reporting, people are saying we're familiar
Speaker 1: with the discussions. They're saying that the discussions are advanced.
Speaker 1: Of course, they may still fall apart if another potential
Speaker 1: bidder emerges. And so Bloomer Intelligence has weight in on this.
Speaker 1: They're saying that you know, for now or Service now,
Speaker 1: this would help, it's ib asset management practice. But they're
Speaker 1: just questioning that deal price seven billion dollars to gain
Speaker 1: three hundred million in annualized recurring revenue, which to them
Speaker 1: seems expensive.
Speaker 3: What do you think, Paul, I don't know the multiples here,
Speaker 3: but I mean it's a fast growing business and you
Speaker 3: know you got to put this capital to work somewhere.
Speaker 1: I don't know, I don't have.
Speaker 2: A problem with it. Let's go.
Speaker 3: That's a big, big drop in the stock. Something that
Speaker 3: just tells you that their shareholders weren't like expecting this at.
Speaker 1: All, exactly and clearly not happy with it.
Speaker 3: Yes, exactly, all right, what else we have.
Speaker 1: Let's take a look at Franklin Resources so to be,
Speaker 1: And those shares are up today just slightly one point
Speaker 1: five percent, so that was up slightly more earlier, so
Speaker 1: just bearing some of those opening games. But we did
Speaker 1: get news from the company itself. They said that the
Speaker 1: US Department of Justice is preparing to resolve an investigation
Speaker 1: into its Fixed and Community Western Asset Management Company without
Speaker 1: criminal charges. So clearly that's going to stock a little
Speaker 1: bit this morning. Apparently the Justice Department told the company
Speaker 1: on the thirteenth of December that is prepared to result
Speaker 1: the investigation through a disposition The Department just needs more time.
Speaker 1: So we know that this company has been through a
Speaker 1: lot of turmoil. We've seen clients pull more than one
Speaker 1: hundred billion from Western Asis, specifically since the middle of
Speaker 1: last year. That was when Franklin disclosed that A can Leach,
Speaker 1: which was wimco's former co chief investment officer, was under investigation.
Speaker 1: So it seems like they're eager to put this behind them. Yeah,
Speaker 1: I always go back to the checker, which I love,
Speaker 1: and that's Franklin Resources.
Speaker 2: Okay, you're also taking a look at iRobot.
Speaker 1: We got to talk about Eye Robot. It was very
Speaker 1: iconic at one point in the early two thousands, no
Speaker 1: more so. Those shares ticker ir BT. Those are now
Speaker 1: down more than sixty percent after being halted earlier for volatility,
Speaker 1: and that's because, Yeah, they have five for bankruptcy. So
Speaker 1: it's an end of an era for the maker of
Speaker 1: the Rumba. And so the company is saying that it
Speaker 1: will be taken over by its mainhiny supplier, which is
Speaker 1: Shensen pic A Robotics, as well as a subsidiary of
Speaker 1: that firm, and then a common stock for IRA, but
Speaker 1: will be wiped out under the proposed Chapter eleven plan.
Speaker 1: You know, in twenty twenty two, they actually had an
Speaker 1: opportunity to be bought out by Amazon, but then the
Speaker 1: deal collapsed because they clashed with European competition authority. So no,
Speaker 1: but imagine, imagine their their fortunes if they.
Speaker 3: Do own rumba.
Speaker 1: I own you know, I used to own one, and
Speaker 1: then my cat broke it. Pets and rumbas, that's a
Speaker 1: dangerous combination.
Speaker 3: Exactly.
Speaker 1: It's this moving thing invading their space.
Speaker 3: I've been told it works. I don't know. I just
Speaker 3: I kind of think it's a scam. Actually I have,
Speaker 3: but I'm just like, really is that? I mean, I
Speaker 3: don't know, it's.
Speaker 1: Yeah, it's just sweeping around the house in the middle
Speaker 1: of the night when Paul's not, you know, there to
Speaker 1: monitor it.
Speaker 3: Yeah, exactly.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
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