Bloomberg Audio Studios, podcasts, radio news.
This Stock Mover's 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. Stan Curtis starting us off. Not with the biggest gainer in the pre market, We'll get to that in a moment, but with Synopsis, this company's making some news this morning.
Good morning Dan, Good morning Nathan. Activist investor Elliott Management is said to have made a multi billion dollar investment in the chip design software company Synopsis, according to people familiar, that has those shares trading under ticker SNPs, up about two percent in the pre market. A managing partner from Elliott said in an email statement that Synopsis is essential to the global chip industry and he sees company uniquely positioned to benefit as AI drives changes in chip complexity
and capital investment. The Elliott said it wants to work with Synopsis to align execution, profitabibility, and monetization. Those shares are down about ten percent year today as it has seen some selling as software stocks have taken a hit this year.
All right, now, let's get to the biggest gainer in the pre market. This one is not Flute, it's Flutter. I was thrown off by the ticker this morning. Why is Flutter gaining so much in the pre market.
Well, it's not March madains brackets as much as we'd like to think. It's because of a Wall Street Journal report saying that a by parsan pair of US centers is introducing legislation today to prohibit CFTC regulated companies from listing contracts related to sporting events, or in other words, it's going to say they're trying to get prediction markets like Calshi and Polymarket out of the sports gambling arena.
That is driving those shares up. Flutter up about eight percent in pre market, and then also its counterpart DraftKings up about seven percent as some spaces out for them on This follows Friday where Nevada won temporary restraining order to prevent Calshi from offering event based contracts related sports. Obviously, Nevada is the gaming hub of the US, and it's something to note. In the US there's a general ban on gambling for those aged under twenty one Calshi and
Polymarket under their rules are eighteen plus. So there's been a lot of ideas that these companies can get in, you know, younger users and then hold on to them later into the later, into their later through their gambling lives, so that they get the first bid. So that's really helping out the gambling stocks this morning.
Okay, so while we watch the gambling stocks, we have reason perhaps to keep an eye on the stocks involved in the whole Warner Brothers Discovery buyout saga this morning.
Once again, that's right, Senators getting involved here too. So a group of Democratic senators is asking the FCC Chairman, Brendan Carr, to investigate the foreign money funding Paramounts guide Paramount's takeover bid for Warner Brothers. That's according to Semaphore siting a letter to car that has Paramount Skydance shares down about two percent in pre market, Warner Brothers shares little unchanged. The senators say that the foreign investment from
China and Gulf States requires thorough FCC reviews. This letter was signed by centators including Chuck Schumer, Dick Durbin, Corey Booker, Sheldon Whitehouse, and Elizabeth Warren This is not the first time that some of the senators have come out. Earlier this month's Centers, Warren and Bloomenthal accused that both accused the Treasury Department of not scrutinizing the national security concerns around this deal enough.
This stock Moover's 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.