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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 Tim Staneveek along with Carol Master. Let's take a look at some stocks on the move today. We're joined by Bloomberg News Equities reporter Alexandra Semenova. Alex please tell me you brought something that wasn't in the green today?
I do, I do?
I have to prepare for my decliners later.
The company I'm going to start with, though, is in the green today. I know it's been hard to focus on anything beyond the macro story, but a lot of idiosyncratic stories underneath the surface, and one of them that everyone's talking about is Synopsis. Activist investment management firm Elliott Investments it made a multi billion dollars investment in Synopsis million rather the chip design software maker. It plans to push for changes at the company, as it does with
most of its activist stakes. Elliott managing partner Jesse Cohene actually said in an emailed statement that he sees a lot of potential with this company. It is essential to the global chip industry. He said that changes in chip
complexity and investment make Synopsis uniquely positioned to benefit from this. However, they think that they could do much better clearly given this investment, they say, we look forward to engaging with the company to help align operational execution, profitability, and monetization with its potential importance in the semiconductor ecosystem. And Elliott's activist campaigns have generally gotten a positive reaction from investors.
They tend to push for shareholder value, profitability, and just general improvements at the company.
Yeah, they're a pretty good activist, right in terms of bringing back It's fascinating look at Synopsis over the last couple of years, with everything that's going on in the semiconductor space, it's really struggled. I mean it's done a little bit each year, but you compare it with some of the other names in the space, they've really had a tough time.
Yeah, perhaps this could mark the much needed reversal that they need.
All right, so let's go to I love these next two names. These are definitely two gainers. And actually Tim was like, you got to do these as Gainers taken away.
Super interesting to see Draft Kings and Flutter up today they are taking off after the Wall Street Journal reported that US senators are set to introduce a bipartisan bill to ban sports bets on prediction markets, which obviously have been taking off. These companies have struggled exactly as people moved to websites like Kelshi and poly Market. The bill pertains to entities regulated by the CFTC, including those exchanges
like Calshian poly Market. This is according to that Wall Street Journal report, and they could now be blocked from listing sports events contracts, which is a good thing for DraftKings and Flutter given the facts that they've struggled with competitions. There was that big Bloomberg story about during the Super Bowl everyone just gravitated toward a Calshian Polymarket.
Well, you know, I asked Tark Monsur about this last week, because you know, maybe there could be a scenario where they can't do the sports predictions on the on the on the prediction markets, and he didn't really answer the question about whether they would narrow their business, if that would if that would become a possibility. I think the big thing to keep in mind for these prediction markets is that in some cases it's ninety percent of what they're doing.
That's why I said, what's less then for them?
Right?
Going to mean for them?
Even though from our perspective, there's a lot of interest around Okay, what's inflation going to you know, what's the inflation print going to be? What's the Fed going to do?
Do you make money? Do you make enough money off of that? Right?
Everyone's just leaning on active.
Videos, got the man. We're just talking about prediction markets though in their impact and so much lately. All right, let's get to MasterCard.
Yeah, here is a stock that is not doing so well today. It was hit with a multi billion dollar, multimillion dollar bill after a Brazilian bank collapse. Basically, the issue was that the payment network behind cards issued by the fintech arm collapsed and when the bank failed, card holders still had billions of dollars in outstanding charges and
master Card was forced to pay this off. It stepped into pay retailers, covering about half of those transactions, and now is going to the liquidator to make sure to get that money back with the stocks?
App is it?
It was?
It was this is what happens on day crazy?
Yeah, 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.