On this episode of Stock Movers:
- Warner Bros. Discovery (WBD) shares rose on news that Larry Ellison is throwing his personal fortune behind Paramount Skydance’s bid for it, aiming to give his son’s company an advantage in a fiercely contested takeover battle with Netflix. Both suitors moved on Monday to strengthen the financial backing for their offers, though they stopped short of increasing their bids. Netflix refinanced a portion of its planned $59 billion of debt as a way to ensure a lasting investment-grade rating — a key advantage it holds over the lower-rated Paramount. Warner Bros. shares gained 3.4% in New York afternoon trading, and changed hands during the session for as much as $28.98. Paramount rose as much as 8.1% while Netflix dropped about 1%.
- First Solar (FSLR) rose as much as 6.2%, touching the highest intraday since June 2024, after news Alphabet will buy clean-energy developer Intersect Power in one of the company’s biggest deals aimed at boosting its AI-related data-center footprint.
- Navan (NAVN) shares climb as much as 12% after the business travel and expense management software maker announced that it had been added to the broad-market Russell 3000 Index and the small-cap Russell 2000 Index, as of Monday’s opening bell.
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