On this episode of Stock Movers:
- Amazon (AMZN) is down, while Google is up (GOOGL) as the US Federal Trade Commission is investigating whether Amazon and Google misled advertisers about the terms and pricing for ads on their websites. The FTC is seeking details about Amazon's auctions and whether it disclosed "reserve pricing" for some search ads, and is examining Google's internal pricing process. The investigations are ongoing and are part of continued regulatory scrutiny of Google and Amazon, with the FTC's consumer protection unit conducting the probes.
- Gemini Space Station (GEMI) shares jumped as much as 64% from their IPO price. The company raised $425 million in its IPO. The company has a market value of more than $3.5 billion based on the outstanding shares listed in its filings with the US Securities and Exchange Commission. Gemini offers a crypto exchange, a US dollar-backed stablecoin, crypto staking, digital asset custody and a credit card that offers rewards in crypto, with more than $21 billion of assets on the platform.
- Warner Bros. Discovery (WBD) shares climb after Paramount Skydance, the Hollywood studio taken over by independent filmmaker David Ellison, was said to be preparing a bid for the company.
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