WEBVTT - Devon Energy and Coterra Energy Fall on $58B Merger; Crypto-Linked Stocks Fall After Bitcoin Tumbles Over Weekend; Oracle Kicks Off US Dollar Bond Sale

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

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<v Speaker 3>But let's take a look at some of the stocks

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<v Speaker 3>on the move that we can do that with Bloomberg's

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<v Speaker 3>John Tucker, John, what are you look at today?

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<v Speaker 1>Well, you know in the shell patch US drilling, all

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<v Speaker 1>the good sites have been taken are dried up, so consolidates.

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<v Speaker 1>There you go, Devin Energy agreeing to acquire rival share

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<v Speaker 1>driller Coterra Energy. The price tag here at twenty one

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<v Speaker 1>point four billion dollars, looks like this is going to

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<v Speaker 1>be an all stock transaction. It's actually one of the

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<v Speaker 1>largest oilin natural gas deals in years. Sokterra stockholders will

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<v Speaker 1>receive point seven Devon shares for each year they own.

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<v Speaker 1>The company's going to keep the Devn name and the

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<v Speaker 1>CEO there, Clay Gasper, He's going to be the big

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<v Speaker 1>boss after the deal closes. We actually first reported the

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<v Speaker 1>talks earlier this year, and the deal expected to close

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<v Speaker 1>in the second quarter. It will generate the expectation at

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<v Speaker 1>least it's going to generate a billion dollars in pre

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<v Speaker 1>tax savings, a combination with strengthen their positions in the

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<v Speaker 1>Permian basin of West Texas and New Mexico. So they're

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<v Speaker 1>going to be able to deal a little better with

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<v Speaker 1>Exon and their other rival did well.

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<v Speaker 3>The first thing I do is, you know who's getting

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<v Speaker 3>paid here Evercore serving as financial advisor, Scadden legal advisor

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<v Speaker 3>to Devin, So those are good paid. Goldman Sachs, JP

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<v Speaker 3>Morgan representing Coe Terra also doing a fairness opinion.

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<v Speaker 4>Devin's down about and I'm surprise to find that.

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<v Speaker 1>No comments so far from Billy, Bob and land Man.

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<v Speaker 4>You watched Landman, Sure you know, I just because of you.

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<v Speaker 4>I just started. Don't get me started, I just started it.

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<v Speaker 4>So yeah, I'm enjoying Billy Bob Thornton. All right, we digress,

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<v Speaker 4>Go ahead, John Tuck.

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<v Speaker 1>We move on to the world of crypto and the exchanges.

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<v Speaker 1>The latest downturn for crypt I mean Bitcoin is up

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<v Speaker 1>just a bit this morning. No spectacular scandals, no bankrupt exchange,

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<v Speaker 1>no regulatory crackdown yet for the biggest trading platforms. The

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<v Speaker 1>damage is starting to look a little familiar. Bitcoin again,

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<v Speaker 1>down more than thirty five percent since the October crash

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<v Speaker 1>for exchanges, though, like Coinbase, the hit has been a

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<v Speaker 1>lot steeper trading volumes, which of course is the core

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<v Speaker 1>of their business that is plunging, dragging share prices down

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<v Speaker 1>forty and fifty five percent over the past three months.

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<v Speaker 1>Analysts are also slashing their expectations. Coinbase hasn't commented so far.

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<v Speaker 1>The pressure point is simple. More crypto exchanges generate the

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<v Speaker 1>biggest chunk of their revenue from the transaction fees, the

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<v Speaker 1>trading access.

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<v Speaker 4>Say, look, new legislation's coming down the pike this year.

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<v Speaker 4>At least you have to regulation right coming down the

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<v Speaker 4>pike for this industry. So it's going to be I

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<v Speaker 4>would think it's going to be a volatile time.

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<v Speaker 1>Yeah, no, absolutely. Let's move on to also one of

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<v Speaker 1>the most active, the most active it was in the

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<v Speaker 1>pre market, Oracle kicking off a US dollar and bond offering.

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<v Speaker 1>The software giant trying to raise forty five to fifty

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<v Speaker 1>billion dollars through a combination of debt and equity sales

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<v Speaker 1>to build, Yes, spend more.

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<v Speaker 4>On NAI data center.

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<v Speaker 1>They're going to raise the debt and a single issuance

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<v Speaker 1>of bonds. This will cover half of the plan. Funding

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<v Speaker 1>for the year doesn't extend to issue additional notes beyond

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<v Speaker 1>that in twenty twenty six. The rest will be raised

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<v Speaker 1>through a combination of equity linked and comedy equity.

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<v Speaker 4>So I have to ask if the stock is up

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<v Speaker 4>better than four and a half percent, guys, So is

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<v Speaker 4>this because investors feel good about the fact that they're

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<v Speaker 4>going outside of.

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<v Speaker 1>Money to do this? Anog Rogin says, it's more because

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<v Speaker 1>we got initially the shares were down, and then we

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<v Speaker 1>got more clarity on exactly how this is going to

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<v Speaker 1>be structured.

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<v Speaker 4>Okay, because I mean the stock market's been punishing companies

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<v Speaker 4>that are that are spending big on AI CAPAX.

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<v Speaker 3>So initially you got you got rewarded for it. Now

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<v Speaker 3>there's definitely some questions, but I think what the market

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<v Speaker 3>saying is now I got a little bit of clarity

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<v Speaker 3>on how this whole thing's all right, I'll buy it.

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<v Speaker 1>I'll buy it all right. I'll wrap up real quick

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<v Speaker 1>with the Musk in advanced talks to combine SpaceX with

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<v Speaker 1>x A I so kind of consolidating the Musk Empire.

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<v Speaker 1>So his vision for artificial intelligence has grown too costly

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<v Speaker 1>for any one of the single entity.

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<v Speaker 4>But I guess it makes sense to do this with

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<v Speaker 4>x Ai then Tesla.

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<v Speaker 1>Also, I mean there's some talk it could also happen

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<v Speaker 1>with with Tesla, and that's why the shares were lower, all.

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<v Speaker 3>Right there, Okay, just putting it all together. Every whatever

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<v Speaker 3>Elon wants to do, I think a lot of his

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<v Speaker 3>investors will just follow right along with them.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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