Stock Movers

WBD Rises on Ellison Backing; Rocket Lab Climbs; Clearwater Rallies


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On this episode of Stock Movers:
- Shares of Warner Bros. Discovery (WBD) moved higher ahead of the US market open as Paramount Skydance Corp. sweetened its bid for WBD, including offering a personal financial guarantee by Oracle Corp. Chairman Larry Ellison, as it seeks to beat out a rival bid from Netflix Inc. Ellison has agreed to personally guarantee $40.4 billion in equity financing for Paramount’s proposed $108.4 billion offer for Warner Bros., according to a statement Monday.  Ellison, whose son David Ellison is chief executive officer of Paramount, agreed not to revoke the Ellison family trust.
- Shares of Rocket Lab (RKLB) climbed in early trading after the company won a US Space Force contract to design and build 18 satellites, marking the company’s largest single contract to date. The deal includes additional subsystem opportunities that could take the contract's total value to about $1 billion.
- Shares of Clearwater Analytics (CWAN) rallied in premarket trading as a group of private equity firms led by Permira and Warburg Pincus has agreed to acquire Clearwater in a deal valuing the investment and accounting software maker at $8.4 billion including debt. Clearwater investors would get $24.55 a share for an equity value of about $7 billion, according to a statement confirming an earlier report by Bloomberg News. The company said the price, which is roughly 10% higher than the stock’s last close, represents a 47% premium to the price on Nov. 10, before Bloomberg reported the two buyout firms were in talks to buy it.

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