On this episode of Stock Movers:
- Shares of Bayer (BAYN GY) rallied in Frankfurt after the Trump administration urged the US Supreme Court to take up Bayer’s appeal targeting thousands of lawsuits blaming its top-selling Roundup weedkiller for causing cancer. US Solicitor General D. John Sauer – the administration’s top courtroom lawyer – recommended Monday that the high court agree to hear Bayer’s challenge to a $1.25 million Missouri jury verdict over Roundup on the grounds some of the claims were preempted by federal law.
- Shares of Warner Bros. Discovery (WBD) edged higher ahead of the US market open after the company fielded a second round of bids on Monday, including a mostly cash offer from Netflix Inc., in an auction that could wrap up in the coming days or weeks, according to people familiar with the discussions. Bankers for Paramount Skydance Corp., Comcast Corp. and Netflix worked over the long Thanksgiving weekend on improved offers for all or part of Warner Bros., said the people, who asked not to be identified discussing nonpublic information. Paramount’s offer, while largely backed by the family of Oracle Corp. co-founder Larry Ellison, includes debt financing from Apollo Global Management Inc. Middle East funds are also contributing, the people said. The offers are binding, which means the board is in a position to sign off on a deal quickly if its goals are met.
- Shares of MongoDB (MDB) soared in Tuesday's premarket session after the database software company posted an earnings beat. MongoDB's better-than-expected 4Q revenue and operating-profit guidance should help ease concerns about execution risks following the CEO transition, and underscores improving scale economics. The results will strengthen confidence in MongoDB's ability to compete with newer entrants and peers such as Elastic, according to Bloomberg Intelligence.
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