Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report, your roundup of companies making moves in the stock market harnessing the power of Bloomberg Data. Let's take a look at some stocks on the move today. I'm Tim Keen with Paul Smeni and Bloomberg's John Tucker.
Where do you begin? All, Let's begin with CFLT. That's the ticker, the company name. They're based in the Valley Confluent. It's a data infrastructure company. They have highly sown after technology Reuter says they're exploring a sale after they received acquisition interest companies working with an investment bank of the sale process. It's in the early stages. This was all instigated after private equity firms and other tech companies separately
expressed acquisition interests. Now Confluent became vulnerable to takeover approaches early in July. That's when the company reported actually losing business from a large customer, and Bloomberg Intelligence writing this morning. Confluence potential sale may not immediately offset growth headwinds from enterprise spending pullbacks, yet its strong cloud mix, high value clients, and heavy marketing spending could attract buyers seeking synergies Synergies Center.
I love that word. With AI easing use of open source tools, a larger partner could help refocus spending on product innovation. And if you understood any of that, please give us. You know you're killing it to Lord looks next.
J E. F.
Jeffries Jeffries Financial Group. They say they have one hundred and sixty one million dollars of exposure to funds that held a trade receivables and loans the bankrupt autoparts supplier First Brands Group the exposure mostly through its point Benita Capital. This is a division of its asset management, which manages trade finance assets on behalf of third party and other investors. Lucadia has a one hundred and thirteen million dollar equity
stake in the fund. Jefferies also disclosed exposure to First Brands through Apex Credit Partners In, which owns a fifty percent steak. Thank you for doing this, This is Paul, This is like percolating. Yeah, this is how out there it's out there.
Marcus Ashworth in London would say, there's more to this.
Okay, yeah, investor. The scrutiny intensified in August, forcing First Brands to pause plans to refinance what's six billion dollars worth of debt. And finally, let's wrap up with this is a drag in European markets today. But BMW issuing profit warning. Among other things, they say Chinese volume struggles. The shares tumbled yesterday, felt something like seven percent, the
German automakers at volumes in Chin below expectations. In addition to that, they said the US European Union tariff agreement that actually has yet to materialize, so that's not final terriffs thing. That's one of the big stories. Paul into Q four. We're all apoplectic about tariffs what six months ago?
Yeah? Sure, I mean I don't hear anybody you know groceries.
I know what is groceries because of tariffs?
I don't know it's Do we all agree avocados are outragiously priced?
Everything's outrageously priced. I left the food town the other day with two small bags and a bill of one hundred and ten dollars, so I didn't get much. That doesn't play.
I look at it as per bag and it's frightening.
So anyway, as far as the tariffs on European imports with respect to BMW. They're still at twenty seven and a half percent. They're supposed to go down to fifteen percent for the automakers. It hasn't happened yet.
This Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.