Closing Bell: Bumble Soars, Microsoft Gains, Six Flags Drops

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Tim Stenovec, Carol Massar - Bumble (BMBL) shares soar on news Ithaca is taking Bumble private for $1.3 billion, with a deal price of $6.05 per share. Bumble founder Whitney Wolfe Herd said she would “remain actively involved with Bumble” after the deal, which marks a significant change for the company that was valued at $14 billion when it went public. - Microsoft (MSFT) shares are on pace to close at their first record in nearly a year as the software maker’s four-month rally gains momentum. The stock has gained more than 50% from a June low, adding roughly $1.5 trillion in market value, as sentiment toward the company and its position in artificial intelligence continues to improve. Of the 72 analysts tracked by Bloomberg that cover Microsoft, 68 now have buy ratings and there are no sells, with the average price target implying upside of about 8% over the next 12 months. - Six Flags Entertainment (FUN) saw its bonds sink to their lowest level since they were issued after a string of safety incidents beset the amusement park company.Six Flags’ 7.25% junk bond with a 2031 maturity and its 8.63% debt due January 2032 were each trading around 86 cents Tuesday afternoon, down nearly six points since Monday’s close, according to data compiled by Bloomberg. The bonds are at their lowest prices since they were issued three years and nine months ago, respectively, having sold off sharply from their peaks.Six Flags said it would temporarily close 10 rides at its theme parks as a precaution, including one in Georgia where a man was ejected and killed on Monday.