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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carol Master along with Tim Stenwick. Let's get to some stocks on the move. Jnisa Socova is with us here at Bloomberg. Denisa, where do you want to start. Let's start with gmme.
Yeah, we have to talk about GameStop another day, another game stop saga.
Of course, yesterday we had Rowing Kitty.
Today we have eBay rejecting a fifty six billion takeover from GameStop.
This whole deal has been really fascinating to me.
The day close with Jimmy down more than three percent, eBay up more than two percent.
There was a lot of duration in there.
What eBay says is that the bit is neither credible nor attractive.
There was a lot of criticism.
They said the offer is not taking in account uncertainty around the final stinc plan, operational risks.
I mean, we've been talking a lot.
About the math of this deal, which is very complicated. GameStop market value is about ten billion, which is less than fourth of the value of Vbay.
You know, there's been a little of questionable math.
But nevertheless, I do think that people shrud like dismiss this very early on. Yeah, I agree with you, like too fast because if you actually look at the balance sheet for Dame Stop, Ryan Cohen's been able to do. He brought this from a company that has one point four billion dollars in cash back in twenty twenty three. It's got nine billion dollars in cash and cash equivalents.
Now and they say there was billion.
Do you get this?
Yeah, it's I mean you could have.
It's a very big price stack and they want to borrow a seventy billion. I don't know.
It's a letter from TDY.
Yeah, yeah, they did have a letter. But it's a it's an interesting saga. We're all watching it, and I feel so every day there is a new development.
All right, speaking of sagas, let's get it under Armour because they're they're definitely, you know, trying to kind of write this ship. And they were doing pretty well so far this year. But yesterday and day it's been two pretty rough days. Under Armoured declined after its forecast.
For sales and profit for the fiscal year trailed. What was was expecting ticker is UAA in. The stock was down seventeen percent today. It was actually headed for double dish game before this. They're citing a financial hit from the Middle East, from the conflict in the Middle East.
Annual revenue will decline slightly.
Quite a few important metric missed analyst expectations, so that's definitely a weighing on sentiment. And you know, we've been watching this turnaround effort for quite some time and this is quite quite a challenge to it.
Let's talk square Hamburgers.
Square Hamburgers, Wendy shares well seventeen percent. We're seeing a offer by Triumph Fund Management bid to take the company private. We've seen this happen a few times, and people are wondering if it's going to happen.
There is a low doubt. Nevertheless, the company.
Just seventeen percent and big relief for a company that's been down more than in the past six years.
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