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Now time for some of today’s trending tickers. We are watching IBM, Netflix and Tesla.
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First up, IBM will buy Confluent for $9.3 billion. That takeover one of IBM’s largest ever.
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Confluent is a data streaming platform that allows companies to gather and analyze data in real time. For IBM, it’s a major bet on the kind of enterprise software that artificial intelligence tools need to perform tasks in real time.
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The acquisition builds on a five-year partnership between the two firms, which allowed some IBM customers to use confluence data streaming platform. Both of those stocks trading higher, IBM just slightly.
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Next is Netflix. The streaming giant is facing regulatory hurdles in its bid for Warner Brothers. It’s also facing increasing competition. As we just learned, Paramount just increased its bid for the studio to $30 per share in cash.
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And over the weekend, President Trump said the size of Netflix’s market share could pose a problem. We are going to keep following these headlines as they cross fast and furious here. Uh WBD shares are now higher by 6% following that up to Paramount bid.
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And finally, Tesla, those shares are sliding after Morgan Stanley downgraded the stock on valuation concerns.
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That downgrade comes as a new analyst at the firm assumes coverage of Tesla from long-time analyst Adam Jonas, remember he moved into a different role at Morgan Stanley.
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The firm set the stock’s new price target at $425 per share, which is below where it is right now.