Apollo因洋基队交易上涨，Webtoon下跌

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the Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. I'm Tim Stacc along with Christina Kino. Let's take a look at some stocks on the move today. We're joined by Bloomberg News equities reporter Avalon Pernell. Hey Avalon.

Hi. We have to go ahead and start off with Apollo Global. That's ticker APO. They're currently jumping about 6.3% most intraday in more than 4 months. And that's after Nvidia tapped the asset manager alongside a slew of other firms like Blackstone and Black Rockck to source $500 billion in financing for AI development and infrastructure. Apollo Sports Arm also inked a $2.6 billion financing deal with the New York and Yankees as well.

So definitely had to bring something in from our backyard. proceeds will be used to support the growth of the Yankees and also refinance some of their existing debt.

Yeah, a lot of those sports deals very hot these days.

Yeah, I want to dive into this uh this Yankees uh deal a little bit. Silus Brown writing that uh as you mentioned Avalon $2.6 billion of financing to the owners of the Yankees consisting of debt and equity. The proceeds are going to be used to support the growth. The Steinbrer family uh retaining full control of the Yankees. Hal Stein Brener says the partnership allows them to explore pursuing strategic opportunities.

Like you said, Christine, the money in professional sports is is unbelievable.

Yeah.

And uh yeah, looks like a lot of these uh alternative asset managers are increasingly getting involved.

Yeah, absolutely. And their household name names as well. So, a lot of popularity. All right, Avalon, tell us what else you got.

Next up has to be Webtune. Not as good news there. That's ticker WBTN. It's currently falling just about 11% to hit its lowest intraday level since last May. And that's after the Korean web comics platform forecast thirdarter revenue and adjusted IBATA that trailed Wall Street's expectations. Though to say the least, the analysts were a little bit mixed about this as well. JP Morgan actually defending the company, noting that while the third quarter guidance does come in a little bit softer than anticipated, Webune still has a really promising pipeline of underlying developments that could help them exit the year still at a high.

Uh, are you guys web tune people? Like, is this on your radar [laughter] as as consumers?

Some of my friends really into it. I haven't actually pursued it yet.

Yeah, I'm not I can't say this is but apparently like it's huge with younger kids. Like

that's none of us in this room right now, unfortunately.

I don't know. Like [laughter] we I've spoken to people who are like, "Oh, yeah." You know, this is totally in in my house. Like, this is something that is definitely on our radar.

So, it's a saver for parents entertaining their kids. I think I think the kids are a little older and they're kind of like entertaining themselves at this point, but like when I first started this company, I was like, "What is this?" And I started looking into it and it's apparently the content is incredibly popular. Okay. Uh Sophie uh in our control room is a big fan of the company. Okay, that's good to know. Web tune, WBTN is the ticker.

And uh your final one is one that is new to the public markets.

It is bending spoons. That's ticker BSP. I remember we actually covered it when they first came on markets. now currently jumping about 6.7% though earlier it was up as much as 15% to hit an all-time high and that's after Mizuo boosted its price target on the company to a street high of $72 ahead of Benning Spoon's first earnings report after going public. For those unfamiliar, this is an Italian company that pursues a sort of private equityesque style playbook to buy distress software apps.

Most notably, at least recently, they just bought Air Table for about $2.25 25 billion which is far below their earlier peak value of about 11.7 billion and that is definitely part of why Mizuo upped their price target.

Yeah. They basically take all these like web 1.0 companies that we used well I'll say not we I used when I was in my 20s.

No, I'm with you there today.

Okay, cool. We used in our 20s [laughter] uh and uh they they buy them and they you know they own Vimeo AOL

Bright Code. You're speaking my language right now. [music] Right.

Yeah.

The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of [music] companies making news on Wall Street. And for the latest market moving headlines, [music] listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg.com, and on [music] Apple CarPlay and Android Auto with the Bloomberg Business App.