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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 Nathan Hager, joined by Bloomberg's Valerie Tytel. Starting with the most actively traded, the biggest gainer in the stock market this morning in the pre market trade Valerie, Why is Confluent getting such a bid this morning?
Good morning, Well, because.
It's a data infrastructure company and that's a hot, hot, hot sector at the moment. Confluent of nearly twenty percent in the pre market becoming a takeover target. This is a report from Reuters that someone has approached the company looking to acquire it now. Confluent provides technology needed to manage massive real time data streams for artificial intelligence models,
so it does have some unique technology to it. The company has a market cap of around seven billion dollars and the stock did dive back in July after they lost a key customer and has been rumored to be a takeover target ever since. But it looks like we're nearing a deal, with the Confluent shares rising nearly twenty percent on the back of this report from Reiters and a store.
Another stock that has your radar this morning helped me out with this one. Is it Iron Iron.
This is another data center company used to be a bitcoin minor, now involved in the AI cloud space. I know that might sound familiar, but they have announced a convertible bond offering to finance some of its new cloud service contracts. So we're seeing the shares a fall in pre market trade, down four percent, as this is seen
as mostly a dilutive fundraising for them. But it's just another sign, Nathan, that the next stage of the AI buildout is being financed by debt after Oracle's blockbuster bond offering a few weeks ago. We even had reporting that Xai is also looking at debt financing in its latest round.
And it looks like we have a few more names that could be targets of the US government to take steaks and tell us more about these.
Yeah, this is Rare Earth companies. They seem to be rising on really little speculation this morning, but we have USA Rare Earth Incorporated rising six percent, in Critical Minerals rising thirteen percent in pre market trade. Now this is even despite the White House saying yesterday it is not looking to take a steak in critical minerals, but both are seen as potential next steps for the Trump administration to expand its equity stakes in rare earth miners to
combat China's dominance in the sector. And it comes just a day after the US announced they took a ten percent stake in Trilogy Metals, which is a miner that allowed the will allow the US government to gain access to mines in remote Alaska, and also comes after the US government took a steak in Lithium Americas to develop a lithium mine in Nevada. So it seems like their speculation rife that the next move could be one of these two rare earth companies.
Okay, so to top side there On the downside, this morning, a couple luxury auto.
Names BMW is the worst performing stock in Europe today. It is down over eight percent, sliding the most in a year.
Now.
This comes after BMW lowered its financial guidance on week sales in China and also cited tariff costs on their plate. Now it just underscores the difficulties that Germany's export reliance auto industry is facing at the moment very steep competition from China when it comes to bid and Shaom BMW also slashed its projection for free cash flow for the year, and the move puts the German automaker close to being in the red.
Here today right 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 a Bloomberg Business app.