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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 Haker, joined by Bloomberg's Valerie Titel and Valerie I'm thinking Microsoft is going to be a stock to watch today, Wondering if investors are breathing a bit of a CYHB relief after some of the latest developments around the future of open Ai.
Good morning, Hey, good morning, Nathan, Happy Friday to you. Yes, we are seeing Microsoft have a decent rally this morning. It's up one point three percent in pre market trade. It's on the back of as you mentioned, open Ai and Microsoft announced in a joint statement yesterday that they have reached preliminary terms on a revised partnership. Comes after some painstaking negotiations between the two, but the announcement has calmed fears about the turmoil in that Microsoft's relationship with
open Ai. Remember, open ai is currently a non profit and Microsoft is currently their biggest backer. But perhaps a restructuring of open ai, which does deal with a nonprofit getting one hundred billion dollars of its equity stake. Maybe another signal that chatgybt maker is coming closer.
To converting itself into a for profit company.
Well, staying in the tech space, we just got some earnings from Adobe. Apparently you say AI, you say good things about AI, and the stock just jumps.
Well, Adobe is just shy of four percent in pre market trade. They did ease investor concerns that they are dealing with tough competition from new AI entrants into the space. Remember, Adobe is the maker of software, but more for creative professionals. They beat on expectations when it comes to earnings and
raised their full year guidance. Analysts were also quite positive on their upgrade to their annual recurring revenue metric, being that software big, a big thing that software companies track.
It's Adobe up nearly four percent.
Okay, moving from AI to OURH formerly known as Restoration Hardware. Why has that stock got your attention this morning?
It's down nine point nine All that will do it, that's why.
But there was some.
Colorful language from the CEO, which is also attracted attention. But they announced that they were cutting their sales out look for the full year. They cited mounting impacts from new US tariffs that have resulted in product delays. But then, for the second time this year, the CEO on the earnings call gave some quite colorful language as to why they need to discount their products, saying that the furniture industry will go broke if they don't offer discounts to
stay afloat amid a weak housing market. He called the housing market the third year of the worst housing market he's seen in his thirty eight years in this industry. So housing having an impact on the luxury furniture space, with restoration hardware down nearly ten percent.
And we're seeing some big impact this morning as well for Warner Brothers. Discovery moving higher and maybe having to make its name even longer.
Well.
It rose yesterday on a speculation that Paramount sky Dance was about to make an offer for the company. It rose nearly thirty percent and is rising another five and a half percent so far in pre market trade. Now, this has got a lot of interesting things going on. Paramount sky Dance. It was a studio that was taken over by independent filmmaker David Ellison, who is the father of Larry Ellison, who is the co founder of Oracle, who has saw that ginormous jump in net.
Worth after that Oracle rally.
Warner Brothers enterprise value stends it around seventy billion, and that's basically what Larry Ellison has made in his net worth with the Oracle rally this year. But the very important part about this is that the paramount bid is a bid for the entire company, and Warner Brothers just a few months ago was considering splitting into.
Two different publicly traded companies.
So that's the reason why the aggressive move higher for Warner Brothers today.
And I know you meant to say that David Elson is the son of Larry Ellison, Oracle co founders, so just to clarify that.
The Stockmover'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.