Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 3: But let's take a look at some of the stocks
Speaker 3: on the move that we can do that with Bloomberg's
Speaker 3: John Tucker, John, what are you look at today?
Speaker 1: Well, you know in the shell patch US drilling, all
Speaker 1: the good sites have been taken are dried up, so consolidates.
Speaker 1: There you go, Devin Energy agreeing to acquire rival share
Speaker 1: driller Coterra Energy. The price tag here at twenty one
Speaker 1: point four billion dollars, looks like this is going to
Speaker 1: be an all stock transaction. It's actually one of the
Speaker 1: largest oilin natural gas deals in years. Sokterra stockholders will
Speaker 1: receive point seven Devon shares for each year they own.
Speaker 1: The company's going to keep the Devn name and the
Speaker 1: CEO there, Clay Gasper, He's going to be the big
Speaker 1: boss after the deal closes. We actually first reported the
Speaker 1: talks earlier this year, and the deal expected to close
Speaker 1: in the second quarter. It will generate the expectation at
Speaker 1: least it's going to generate a billion dollars in pre
Speaker 1: tax savings, a combination with strengthen their positions in the
Speaker 1: Permian basin of West Texas and New Mexico. So they're
Speaker 1: going to be able to deal a little better with
Speaker 1: Exon and their other rival did well.
Speaker 3: The first thing I do is, you know who's getting
Speaker 3: paid here Evercore serving as financial advisor, Scadden legal advisor
Speaker 3: to Devin, So those are good paid. Goldman Sachs, JP
Speaker 3: Morgan representing Coe Terra also doing a fairness opinion.
Speaker 4: Devin's down about and I'm surprise to find that.
Speaker 1: No comments so far from Billy, Bob and land Man.
Speaker 4: You watched Landman, Sure you know, I just because of you.
Speaker 4: I just started. Don't get me started, I just started it.
Speaker 4: So yeah, I'm enjoying Billy Bob Thornton. All right, we digress,
Speaker 4: Go ahead, John Tuck.
Speaker 1: We move on to the world of crypto and the exchanges.
Speaker 1: The latest downturn for crypt I mean Bitcoin is up
Speaker 1: just a bit this morning. No spectacular scandals, no bankrupt exchange,
Speaker 1: no regulatory crackdown yet for the biggest trading platforms. The
Speaker 1: damage is starting to look a little familiar. Bitcoin again,
Speaker 1: down more than thirty five percent since the October crash
Speaker 1: for exchanges, though, like Coinbase, the hit has been a
Speaker 1: lot steeper trading volumes, which of course is the core
Speaker 1: of their business that is plunging, dragging share prices down
Speaker 1: forty and fifty five percent over the past three months.
Speaker 1: Analysts are also slashing their expectations. Coinbase hasn't commented so far.
Speaker 1: The pressure point is simple. More crypto exchanges generate the
Speaker 1: biggest chunk of their revenue from the transaction fees, the
Speaker 1: trading access.
Speaker 4: Say, look, new legislation's coming down the pike this year.
Speaker 4: At least you have to regulation right coming down the
Speaker 4: pike for this industry. So it's going to be I
Speaker 4: would think it's going to be a volatile time.
Speaker 1: Yeah, no, absolutely. Let's move on to also one of
Speaker 1: the most active, the most active it was in the
Speaker 1: pre market, Oracle kicking off a US dollar and bond offering.
Speaker 1: The software giant trying to raise forty five to fifty
Speaker 1: billion dollars through a combination of debt and equity sales
Speaker 1: to build, Yes, spend more.
Speaker 4: On NAI data center.
Speaker 1: They're going to raise the debt and a single issuance
Speaker 1: of bonds. This will cover half of the plan. Funding
Speaker 1: for the year doesn't extend to issue additional notes beyond
Speaker 1: that in twenty twenty six. The rest will be raised
Speaker 1: through a combination of equity linked and comedy equity.
Speaker 4: So I have to ask if the stock is up
Speaker 4: better than four and a half percent, guys, So is
Speaker 4: this because investors feel good about the fact that they're
Speaker 4: going outside of.
Speaker 1: Money to do this? Anog Rogin says, it's more because
Speaker 1: we got initially the shares were down, and then we
Speaker 1: got more clarity on exactly how this is going to
Speaker 1: be structured.
Speaker 4: Okay, because I mean the stock market's been punishing companies
Speaker 4: that are that are spending big on AI CAPAX.
Speaker 3: So initially you got you got rewarded for it. Now
Speaker 3: there's definitely some questions, but I think what the market
Speaker 3: saying is now I got a little bit of clarity
Speaker 3: on how this whole thing's all right, I'll buy it.
Speaker 1: I'll buy it all right. I'll wrap up real quick
Speaker 1: with the Musk in advanced talks to combine SpaceX with
Speaker 1: x A I so kind of consolidating the Musk Empire.
Speaker 1: So his vision for artificial intelligence has grown too costly
Speaker 1: for any one of the single entity.
Speaker 4: But I guess it makes sense to do this with
Speaker 4: x Ai then Tesla.
Speaker 1: Also, I mean there's some talk it could also happen
Speaker 1: with with Tesla, and that's why the shares were lower, all.
Speaker 3: Right there, Okay, just putting it all together. Every whatever
Speaker 3: Elon wants to do, I think a lot of his
Speaker 3: investors will just follow right along with them.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
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