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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 of the stocks on the move. We can do that, bloombergs Natalia Keanan Jevich, Natalie, what are you looking at today in the marketplace?
Yeah, let's start with Meta. Shares are up by almost two percent. Meta has agreed to buy Manus. This is a single pore based AI start up with Chinese roots. The deal values Manus at about two billion dollars. This is according to sources familiarle bit Matter, who also told Bloomberg that this deal was struck in just about ten days. So according to the statement, Meta wants to continue operating and selling Manus service, but also it wants to integrate
these services into its own products. This startup is backed by some of the biggest Chinese names, including ten Cent, and it has AI agent which can do different tasks like screening resumes or analyzing stocks, so it is a profitable business. Manus had an annual revenue of one one hundred and twenty five million dollars earlier this year. This is from selling, of course, its products, and it's also a good indicator because Mad can get immediate returns after
this acquisition. I'm just curious why Chinese or Singapore based startup not US, because we have so many similar startups here and.
They're all over the place. You never know where you're going to find it.
But diversification, sure, maybe.
Cheaper, maybe cheaper yep.
And you know what. Dan Ives was on with Paul again earlier in Alexis and made a really good point, which was that for many years China has been ahead of the US on a number of technologies. He would say, he said, you know, you'd go to Taiwan and see what they were doing, and you'd come back to New York and see somebody get into a fight at the dunkin donutsks. Right now, we're ahead in this tech or so we tell ourselves.
Right, Yeah, I'm not sure how you measure that, but that's how it feels. How about Tesla.
Tesla, Yes, so shares are actually down today after the company posted estimates for vehicle deliveries which came Actually shares are mostly flat, we should say, are more pessimistic compared to data from Bloomberg. So by Tesla's count, analysts on average expect the company to deliver slightly above four hundred and twenty two thousand vehicles in the fourth quarter. That would show at fifteen percent decline versus a year ago. Bloomberg calculations showed that that could potentially be a ten
percent decline. Tesla is, of course, on pace to post a second straight year of vehicle sales declines. And we know that there was some rush in the third quarter to buy cars ahead of this tax credit.
Yeah, a little pool pull ahead there that's probably playing out there. What's this next one? Heretf Yeah, it's awesome.
Twenty four our shares that software company exactly. So I think this is Matt's favorite sector of software services.
Software services are going to get eaten by AI, you know, That's what I think. I could be wrong. I could be wrong, because I've noticed lately really access to data is a huge is a huge point, you know, because I'm always looking for cars in the aftermarket, and I look on an auto trader, and I look at car Gurus, and I look at cars dot com, and when I use Chat, GPT or Google Gemini, it's useless it's absolutely powerless, and even the AI box will say, hey, listen, we
don't have any access to the data. So interesting if you're a SaaS company and you have also an interesting data set, like for example, there's a company called gong Right which has access to customer feedback that no one else has. And I always thought, well, gong is going to get destroyed by AI, but maybe not because no one else has all that data.
All the day, it's all about the data as we know about.
So what's this company on.
So shares are up by thirty seven percent today after the company agreed to be bought by Cevent and other software solutions company for a total consideration of about four one hundred million dollars in cash and expects to close transaction in the second half of twenty twenty six. However, it is a little bit strange because we see this huge jump in stock prices, but the company when it reported earnings last time, they already said that they received
some proposals. Okay, so maybe it is a surprise for some people.
The 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.