00:00 Speaker A
Now, time for some of today’s trending tickers. We are watching Oracle, Compass, and BYD.
00:04 Speaker A
First up, Oracle. Aside from those C-suite changes we’ve been talking about, we’re also getting updates on its role in the TikTok deal. US officials say President Trump will approve that deal this week and say Oracle will study the TikTok algorithm to be retrained in the United States.
00:20 Speaker A
The TikTok deal will close 120 days from its signing. Bite dance will hold less than 20% of the US TikTok operations here. We’re continuing to monitor headlines from a White House briefing regarding that deal.
00:34 Speaker A
Next up, Compass. It’s agreeing to buy anywhere real estate in a one and a half billion dollar stock deal that would cement Compass’s status as the largest residential brokerage in the US.
00:44 Speaker A
The deal would give the combined company an enterprise value of roughly 10 billion, Compass said. When it closes, current Compass stock holders will own about 78% of the company. Anywhere investors will hold roughly 22%. Compass secured a commitment for 750 million in financing from Morgan Stanley as part of the deal.
00:59 Speaker A
Its shares, by the way, are down about 9%. Anywhere shares, as you might imagine, are surging by about 58%.
01:07 Speaker A
And finally, BYD. Hong Kong listed shares of the Chinese EV maker closing down by more than 3% today.
01:15 Speaker A
That’s after a report from CNBC that Warren Buffet offloaded his stake in the company. Buffett’s firm held the stock for more than 15 years, having first bought 225 million shares back in September of 2008.
01:28 Speaker A
BYD’s shares have tumbled about 30% from the all-time high reached 4 months ago, due to growing concerns over its ability to fend off competition amid a destructive price war in China.
01:40 Speaker A
And you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance’s trending tickers page.