WEBVTT - WBD Rises on Ellison Backing; Rocket Lab Climbs; Clearwater Rallies

0:00:02.520 --> 0:00:09.960
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, the Stock Movers Report,

0:00:10.240 --> 0:00:13.520
<v Speaker 1>your roundup of companies making moves in the stock market,

0:00:13.680 --> 0:00:16.160
<v Speaker 1>harnessing the power of Bloomberg Data.

0:00:16.239 --> 0:00:17.800
<v Speaker 2>Stock movers, and they're moving.

0:00:17.960 --> 0:00:18.919
<v Speaker 1>Here's Lisa Miteo.

0:00:19.040 --> 0:00:20.680
<v Speaker 3>All right, I have to start with Warner Brothers. We've

0:00:20.680 --> 0:00:23.360
<v Speaker 3>been talking about it all morning long. Their shares WBD

0:00:23.520 --> 0:00:26.320
<v Speaker 3>has been up as much as four percent. A lot

0:00:26.320 --> 0:00:30.120
<v Speaker 3>of different news surrounding the bid offers from Netflix and Paramount.

0:00:30.280 --> 0:00:32.200
<v Speaker 3>I want to start with Netflix. So the news from

0:00:32.200 --> 0:00:35.000
<v Speaker 3>Netflix they refinanced part of a fifty nine billion bridge

0:00:35.000 --> 0:00:37.920
<v Speaker 3>loan to support the potential acquisition of Warner Brothers. So

0:00:38.159 --> 0:00:40.000
<v Speaker 3>if you look at the breakdown, this is, according to

0:00:40.040 --> 0:00:43.440
<v Speaker 3>a filing, secured a five billion revolving credit facility two

0:00:43.560 --> 0:00:46.600
<v Speaker 3>ten billion delayed draw term loans to finance part of

0:00:46.600 --> 0:00:48.400
<v Speaker 3>that bridge facility it took out for the bid, and

0:00:48.440 --> 0:00:52.160
<v Speaker 3>that leaves about thirty four billion for syndication. Netflix shares

0:00:52.200 --> 0:00:54.560
<v Speaker 3>have been up a much as half a percent, and

0:00:54.640 --> 0:00:57.320
<v Speaker 3>then you had Paramount's guidance came just after that, a

0:00:57.320 --> 0:01:00.480
<v Speaker 3>lot of news this morning, more than three percent. They

0:01:00.480 --> 0:01:02.920
<v Speaker 3>sweetened the bid for Warner Brothers Discovery. Right, it includes

0:01:02.960 --> 0:01:07.280
<v Speaker 3>a personal financial guarantee by Oracle chairman Larry Ellison. Yes,

0:01:07.319 --> 0:01:10.479
<v Speaker 3>the father of David Allison, Daddy stepping, and he's gonna

0:01:10.520 --> 0:01:15.759
<v Speaker 3>personally guarantee forty point Bill. I said that it would

0:01:15.760 --> 0:01:19.600
<v Speaker 3>be in the time equity financing. But this is what

0:01:19.640 --> 0:01:21.600
<v Speaker 3>they were looking for. They were looking for that personal

0:01:21.760 --> 0:01:23.759
<v Speaker 3>guarantee to hear from at LISTA and I'd have no

0:01:23.800 --> 0:01:25.840
<v Speaker 3>clue what we're talking about other than she saw I

0:01:25.880 --> 0:01:26.280
<v Speaker 3>have a tar.

0:01:26.400 --> 0:01:29.200
<v Speaker 1>I didn't, Paul, what's it all mean.

0:01:29.720 --> 0:01:32.080
<v Speaker 2>I think it means that the Ellison's they're putting their

0:01:32.080 --> 0:01:35.760
<v Speaker 2>best foot forward here and they're really committed to getting

0:01:35.800 --> 0:01:38.039
<v Speaker 2>this deal. So Netflix just ticks it up a couple

0:01:38.040 --> 0:01:38.560
<v Speaker 2>of dollars.

0:01:38.680 --> 0:01:39.280
<v Speaker 3>Is that the game?

0:01:39.480 --> 0:01:41.840
<v Speaker 2>I think both are going to have to bring their

0:01:41.840 --> 0:01:42.240
<v Speaker 2>bids up.

0:01:42.319 --> 0:01:42.479
<v Speaker 1>Yeah.

0:01:42.480 --> 0:01:45.039
<v Speaker 2>I think it's gonna get to that. Mary thinks that. Yeah. Well,

0:01:45.040 --> 0:01:47.960
<v Speaker 2>of course, of course, and he knows what he's talking about, Marybelly,

0:01:48.080 --> 0:01:49.760
<v Speaker 2>So we'll see. But I mean, this is a good

0:01:49.800 --> 0:01:51.760
<v Speaker 2>step on the part of the paramount, and it was.

0:01:51.760 --> 0:01:53.400
<v Speaker 3>The trust right, the trust with a.

0:01:53.400 --> 0:01:54.280
<v Speaker 1>Big issue, yep.

0:01:54.320 --> 0:01:56.360
<v Speaker 2>And he says, we will not revoke this trust. It's

0:01:56.440 --> 0:01:59.040
<v Speaker 2>the stock is going to stay there and everything that well,

0:01:59.040 --> 0:02:00.440
<v Speaker 2>I'm not sure everything, but a lot of things that

0:02:00.480 --> 0:02:03.240
<v Speaker 2>Warner Brothers said was lacking in their bid they've tried

0:02:03.280 --> 0:02:05.920
<v Speaker 2>to cure here. So there you go. All right, there's

0:02:05.920 --> 0:02:07.400
<v Speaker 2>Warner Brothers. How about rocket Lab? All right?

0:02:07.440 --> 0:02:09.320
<v Speaker 3>So rocket Lab RKLB.

0:02:10.919 --> 0:02:13.920
<v Speaker 1>You know the stocks before the report? Oh yeah, I know,

0:02:14.080 --> 0:02:17.960
<v Speaker 1>I know, I don't know them. Sure, emailers, step up.

0:02:18.240 --> 0:02:18.919
<v Speaker 1>What's it called?

0:02:19.320 --> 0:02:20.280
<v Speaker 2>Rocket Lab?

0:02:20.480 --> 0:02:25.600
<v Speaker 3>Yes, Space Launch Technology Company? Yes, yes, yes, okay, So

0:02:25.680 --> 0:02:28.280
<v Speaker 3>their shares are rocketing up as much as four percent.

0:02:28.800 --> 0:02:31.720
<v Speaker 3>They actually dumped eighteen percent on Friday, close at a

0:02:31.760 --> 0:02:34.639
<v Speaker 3>record high seventy dollars and fifty two cents. The reason

0:02:34.639 --> 0:02:37.240
<v Speaker 3>why on Friday is because the US based Development Agency

0:02:37.240 --> 0:02:39.400
<v Speaker 3>they said they awarded the company in agreement worth up

0:02:39.400 --> 0:02:42.000
<v Speaker 3>to eight hundred and five million dollars. They're going to

0:02:42.040 --> 0:02:46.280
<v Speaker 3>provide eighteen missile warning tracking defense satellites. Rocket Lab said

0:02:46.280 --> 0:02:49.960
<v Speaker 3>the agreement was its biggest single contract to date. And

0:02:50.000 --> 0:02:52.600
<v Speaker 3>then also came the news that had also successfully launched

0:02:52.639 --> 0:02:55.600
<v Speaker 3>its twenty first electron rocket of the year. This is

0:02:55.800 --> 0:02:59.400
<v Speaker 3>very science based, well above my big read. But yeah,

0:02:59.440 --> 0:03:02.000
<v Speaker 3>their shares a and skyrocketing on this news, so apparently

0:03:02.120 --> 0:03:04.519
<v Speaker 3>was a big deal. For them. So we go from

0:03:04.840 --> 0:03:09.080
<v Speaker 3>Rocket Lab, we go to software fintech company Clearwater Analytics Holding.

0:03:09.120 --> 0:03:12.000
<v Speaker 3>It's cw AN is their ticker. Their shares have been

0:03:12.080 --> 0:03:14.919
<v Speaker 3>up as much as eight percent. They agreed to be

0:03:14.960 --> 0:03:17.160
<v Speaker 3>acquired taking private by an investor group. It was led

0:03:17.160 --> 0:03:20.760
<v Speaker 3>by Permira, also Warburg Pinkus. It's a deal worth eight

0:03:20.840 --> 0:03:25.600
<v Speaker 3>point four billion dollars. So the breakdown. Shareholders of Clearwater

0:03:25.600 --> 0:03:27.920
<v Speaker 3>they're going to receive twenty four dollars fifty five pence

0:03:28.000 --> 0:03:31.360
<v Speaker 3>cents per share in cash under the terms. The deal

0:03:31.400 --> 0:03:34.120
<v Speaker 3>price represents a premium about forty seven percent the firm's

0:03:34.120 --> 0:03:37.640
<v Speaker 3>closing price November tenth. But it still needs approval. It

0:03:37.640 --> 0:03:41.200
<v Speaker 3>needs approval from Clearwater shareholders, It needs clearance from regulators

0:03:41.200 --> 0:03:43.720
<v Speaker 3>on top of that, and they expect to complete that

0:03:43.800 --> 0:03:45.760
<v Speaker 3>in the first half of the year. So we'll see

0:03:45.840 --> 0:03:46.760
<v Speaker 3>if that does happen or not.

0:03:47.120 --> 0:03:49.640
<v Speaker 2>Okay, stuck, you have what I'll give you.

0:03:49.640 --> 0:03:51.440
<v Speaker 3>I'll give you a few quickies. How about that? Okay?

0:03:51.880 --> 0:03:56.200
<v Speaker 3>Marvel Technology is the chip maker bam okay rising two percent.

0:03:56.760 --> 0:03:59.520
<v Speaker 3>City basically opened a positive catalyst watch on the company

0:03:59.560 --> 0:04:02.760
<v Speaker 3>ahead of next month CEES conference. That conference huge, that's

0:04:02.760 --> 0:04:03.440
<v Speaker 3>gonna be a big thing.

0:04:03.480 --> 0:04:04.120
<v Speaker 1>That's a big one.

0:04:04.160 --> 0:04:05.680
<v Speaker 3>Yes, that is definitely a big one.

0:04:05.960 --> 0:04:07.640
<v Speaker 1>Road trip. I got some stories in there.

0:04:07.680 --> 0:04:12.320
<v Speaker 2>Boy oh yeah, the Blagio, Oh my craft table late

0:04:12.360 --> 0:04:14.200
<v Speaker 2>at night and yeah, good news.

0:04:14.520 --> 0:04:17.520
<v Speaker 1>I went to the Bollaggio for breakfast months and it

0:04:17.640 --> 0:04:21.480
<v Speaker 1>was like no fun. I charged it to Retto keepers pay.

0:04:21.520 --> 0:04:23.960
<v Speaker 2>There was like one hundred and thirty dollars for breakfast

0:04:24.000 --> 0:04:29.120
<v Speaker 2>to Volagio. Yep, absolutely, those are It's great. Nice Placeto.

0:04:29.320 --> 0:04:33.839
<v Speaker 2>Keep them trips down on the table. That's good.

0:04:34.279 --> 0:04:36.120
<v Speaker 3>I told him, next time I washed dishes, you got

0:04:36.160 --> 0:04:36.560
<v Speaker 3>one more.

0:04:37.320 --> 0:04:37.520
<v Speaker 1>Yeah.

0:04:37.520 --> 0:04:39.280
<v Speaker 3>Since we've been talking about gold and silver, I just

0:04:39.320 --> 0:04:43.000
<v Speaker 3>wanted to point out the miners like Newmont core miner. Yeah,

0:04:43.000 --> 0:04:45.520
<v Speaker 3>they're up by four percent for for core mining, and

0:04:45.560 --> 0:04:47.440
<v Speaker 3>a new month's up about two percent. So with all

0:04:47.480 --> 0:04:48.480
<v Speaker 3>the news on commodities this.

0:04:48.440 --> 0:04:50.640
<v Speaker 1>Week, you get the forty five dollars today.

0:04:51.440 --> 0:04:55.400
<v Speaker 2>Silver just up one hundred fi today.

0:04:55.960 --> 0:04:59.880
<v Speaker 1>This stock Mover's report from Bloomberg Radio. Check back with

0:05:00.120 --> 0:05:02.640
<v Speaker 1>us throughout the day for the latest roundup of companies

0:05:02.720 --> 0:05:05.840
<v Speaker 1>making news on Wall Street and for the latest market

0:05:05.839 --> 0:05:10.320
<v Speaker 1>moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube.

0:05:10.400 --> 0:05:13.919
<v Speaker 1>Bloomberg dot com and on Applecarplay and Android Auto with

0:05:13.960 --> 0:05:15.440
<v Speaker 1>the Bloomberg Business app.