Bloomberg Audio Studios, podcasts, radio News.
This 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 Dan Curtis. At the start of a holiday shortened trading week, but lots going on in the individual stock space, including new developments in the Warner Brothers bidding.
Ward.
Dan, We've got a Netflix REFI good morning.
Good morning. It's the deal that keeps on giving. As you mentioned on this holiday shortened the week, so lots of news out as a Netflix and Paramount both kind of battle each other to get a hold of Warner Brothers. This morning, we've had news that Netflix has refinanced part of a fifty nine billion dollar bridge loan in an effort to acquire Warner Brothers. It secured five billion dollars in revolving credit and two ten billion dollars delayed draw
term loans. That leaves about thirty four billion dollars left for syndication. Now this comes as Paramount has launched a hostile takeover to take a hostile takeover offer to Netflix earlier, and paramount has paramount is that offer Netflix? Sorry that offer Warner Brothers recommended its shareholders reject. So it's really a battle between this hostile takeover and Netflix, and Netflix, even with this additional level of financing secured, still has
to get through regulatory hurdles to get gain approval. Looking at prediction markets, they're saying that it's sixty four percent chance that Netflix closes the deal. So right now netflixing in the lead, and this additional financing will surely help push it through.
Okay, So while that saga continues, maybe into the new year, Dan, we have a firmer merger Monday news for a software.
Maker, that's right, the software maker Clearwear Analytics Tick or CW, and that's up eight percent in pre market right now. A private equity group led by Permira and Warburg Pinkus has agreed to buy the financial service software company and it deal worth over eight billion dollars. The shareholders get twenty four dollars and fifty five cents a share, and that's just a little bit north of the twenty four
dollars it's trading at in pre market. And these these private equity firms do have a history with Clearwater Analytics. Both Permira and Warburg helped take the company public four years ago at eighteen dollars a share, So four years later it's buying it back about six bucks a share.
Hire The biggest gainer this morning, at least one of them Data Vault AI. What's going on with Data Vault AI this morning?
Yeah, that stock is absolutely surging in high volumes too. It's up thirty three percent in the pre market. It's a five hundred million dollar company, so I had to do a little bit digging into this. It's a database company that leverages blockchain technology going through the issue and so it hits on a lot of the keywords that
people like hearing right now. You have AI in the name, you have the blockchain technology that it tries to leverage, and then it also goes into quantum, some quantum encryption. So it's a lot a very high tech company. It has two patents that have been approved. One is to use blockchain to identify content usage, verify licensing and distributing, and then distribute fees. The other uses blockchain to register, track,
license and monetize creative works. Overall, ideas this the patent helps allow for both data and creative content to be quote unquote tokenized, which is very big in the blockchain community, and then monetize, which is one of the company's goals.
And just quickly found this very interesting. Uber and Lyft teaming up on robotaxi in the UK.
That's right, so Uber and Lyft are both try going to be testing out by Do's Apollo Go cars in London. This follows Alphabet's Weimo which started testing this year. Bid has been really dominating the space for these driver list taxis. Those cars already operate in twenty two different cities. This will be a test of driving on the left hand side of the road though.
This 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.