On this episode of Stock Movers:
- Warner Bros Discovery shares are up 3.9% in premarket trading after Larry Ellison agreed to provide an irrevocable personal guarantee of $40.4 billion of the equity financing for the offer and any damages claims against Paramount. Paramount Skydance rises 3.1%, while Netflix ticks 0.4% higher.
- Nelson Peltz’s Trian Fund Management and General Catalyst agreed to buy asset manager Janus Henderson Group (JHG) for about $7.4 billion. Shareholders will receive $49 a share in cash, up from $46 a share that the investors offered in October, according to a statement Monday. Trian already owns 20.6% of Janus Henderson’s shares.
- Shares of Newmont (ASX:NEM) rose over 5% in recent trade and reached their all-time peak in recent trading on the Australian bourse on Monday after gold touched a fresh record on expectations of US rate cuts.
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Episode Transcript
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:08):
The Stock Movers Report, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg Data.
Speaker 3 (00:16):
Let's get a look at some of the stocks on
the move today. We can do that with Christina a
Quino from Bloomberg News. Christine, what are you looking at?
Speaker 1 (00:21):
Well, Paul, I'm looking at Netflix this morning, so took
her NFLX. Those shares are slightly down today, down more
than one percent now, so just accelerating some of those
earlier declines. So the latest on that, of course, is
that we know that Netflix has apparently refinanced a fifty
nine billion dollar bridge loan with cheaper and longer term debt.
So this is part of its efforts to strengthen its
(00:43):
offer for Warner Brothers, right, because it is still at
least favored by Warner Brothers leadership as an acquirer. So
last week apparently Warner Brothers told the shareholders to reject
the paramount bid in favor of its original agreement with Netflix,
Warner Brothers saying that Paramounts offer is inferior and adequate,
and said the deal's financing was too risky. Now, of course,
(01:05):
the latest in Paramount, we know that Larry Elson is
stepping into the fray. He's personally guaranteeing about what forty
billion dollars equity financing for that offer. So we'll see
if Warner Rutters leadership changes its too, But it seems
like Netflix at the moment is the front runner still.
Speaker 4 (01:21):
All right, Well, this is something that we know Warner
Brothers had been pushing for for a while, So it
looks like Paramount skuyd Dance submitting to that M and
a Monday, Christine, So there's some news on the deals front.
Speaker 1 (01:32):
Exactly, Scarlett. Just because it's the second to last money
of the year does not mean A M and a
Monday stops today. It is Janis Henderson. So those shares
are up ticker JHD shares more than three percent, three
point four percent actually, so really accelerating those opening gains.
And the latest on that front is of course Janis
Henderson saying that it agreed to be acquired by try
(01:53):
and Fund Management of Nelson Pelt's fame and general Catalyst
for seven point four billion dollars in an all cash deal.
So that works out to be forty nine dollars per share.
So we know, of course that Try and this is
just the latest in their steps to overhaul Janis Henderson
essentially right, They've been an activist investor for about five years,
(02:13):
and we know that previously they moved to Alice. Previous
management pushed the fund to stop bleeding clients, and so
I suppose it makes sense in some way that they're
now moving to fully acquire the company. Trying does already
own about twenty percent of Janis Henderson's share, so you know,
it seems like a natural step, but investors clearly liking it,
(02:34):
the shares on more than three three point four percent.
Speaker 3 (02:37):
As I mentioned, Janis was one of my favorite clients
back in the day out there in Denver, great great
commission generator. First Starbucks I ever went to was waiting
to go into a Janis meeting in Denver across the street.
I had no idea what Starbucks was, how to order,
what's a Moco? What's e vent date? No idea?
Speaker 2 (02:53):
No one knows that show.
Speaker 3 (02:54):
No, yeah, no one, I'm not.
Speaker 1 (02:55):
I'm hoping you've worked out your starbars.
Speaker 3 (02:57):
Ols, double short moke. I'm good there.
Speaker 4 (02:58):
But you know that Janis Henders and as an firman
as the industry has changed so much since I'm sure
you visited that.
Speaker 3 (03:04):
Yeah, they merged with Henderson. Henderson's was one of the
best money managers in the city of London. So but
both kind of growth at a reasonable price. That's kind
of their investment philosophy.
Speaker 1 (03:15):
Numont numont so shares for Durk company very much on
the up today, so ticker n E. Those there's are
three point two percent, of course, very much benefiting from
the record highs in both gold and silver. Newmont, of
course is a minor dabbing and dabbling in both of
those metals today, and so we've seen both gold and
(03:35):
silver except for their best annual performance in what more
than four decades, so that's quite major and we're seeing
demand really coming from all sides here. We have investors
who are looking for haven's, looking to gold, looking to
silver as a way to just seek a little bit
of safety in these markets. But then we've also seen
both institutional investors ETF investors piling into this space as well,
(03:59):
you know, very reasons. I think it's a little bit
of diversification and ETF investors obviously seeing the rally that's
been very durable this year, wanting to get in on that.
So yeah, and bloomerg Intelligence weighing in on this as well,
saying that you know, they're looking at the premium for
Newmont shares versus its net asset value, so that's keeping
up with Agniko, which is the leader in that gold
(04:21):
mining space. Good operational performance, equitatory analyst.
Speaker 2 (04:25):
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.
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