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Closing Bell: Broadcom Climbs, Warner Brothers Higher, Fastenal Declines
Description
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Matt Miller, Katie Greifeld, Bailey Lipschultz and Carol Massar.
On this episode of Stock Movers:
- Broadcom (AVGO) shares jumped almost 10% today after OpenAI agreed to buy the company’s custom chips and networking equipment in a multiyear deal, part of an ambitious plan by the startup to add artificial intelligence infrastructure.
- Warner Brothers (WBD) closed 3.98% higher after it rebuffed Paramount Skydance's initial takeover approach for being too low, according to people familiar with the matter. Paramount has several options in its pursuit of Warner Bros., including boosting its bid, going directly to shareholders or finding additional backing through a financial partner.
- Fastenal (FAST) closed lower, with the biggest drop since 2020. The stock was the worst performer in the S&P today after reporting third quarter earnings per share and operating income that were slightly below expectations.
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