Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis on whatever
Speaker 1: the opposite of a merger Monday is, because that has
Speaker 1: once got Comcast shares right on top of the leaderboard
Speaker 1: this morning. Dan, Good morning, Good morning.
Speaker 3: I wish the opposite of it was that it was Friday,
Speaker 3: but it is still Monday. But yeah, that's right. Comcast
Speaker 3: is announcing plans to separate media and technology units, so
Speaker 3: NBCUniversal and Sky will be spun off into a publicly
Speaker 3: traded company called NBC Universal, and that announcement has those
Speaker 3: shares jumping twenty two percent in the pre market. That's
Speaker 3: Class A underticker CMCSA. The separation is expected to be
Speaker 3: completed in about one year, and Comcast shareholders will own
Speaker 3: shares of both Comcast and NBC Universal when it's spun off.
Speaker 3: Comcast is going to retain about a fifth ownership position
Speaker 3: NBC Universal for up to one year after the spinoff,
Speaker 3: and then after that, it's going to slowly let go
Speaker 3: of that position. And this comes after Comcast spun off
Speaker 3: its cable network VERSUT, which includes brands like CNBC at
Speaker 3: MSN now sorry, MSNBC apologies, and ms NOW. So that
Speaker 3: has those shares that that spinoff has those shares up
Speaker 3: twenty two percent in pre market.
Speaker 1: Okay, we also have Verizon Communications making some news this morning.
Speaker 1: Give us the latest on that.
Speaker 3: Yeah, So, Verizon is creating a joint venture with BT
Speaker 3: also known as Well formerly known as British Telcom, combining
Speaker 3: the international businesses that will have a combined revenue of
Speaker 3: about four billion dollars. Verizon shares undertaker VS are down
Speaker 3: about half eight percent in the pre market. Verizon expects
Speaker 3: to record a loss of seven to eight hundred million
Speaker 3: dollars in the current quarter, and that's in connection to
Speaker 3: how is accounting for the deal. It's classifying that assets
Speaker 3: of that international business as held for sale, which kind
Speaker 3: of adds to those losses. Verizon will pay six hundred
Speaker 3: and twenty five million dollars in cash to the joint
Speaker 3: venture for the distribution to BT, and it sees a
Speaker 3: few other charges going in which overall is going to
Speaker 3: bring down the company to record that loss BT on
Speaker 3: the back of this cut at sale guidance after announcing
Speaker 3: the deal as well. So both companies saying short term
Speaker 3: hit and the stock is taking a little bit of
Speaker 3: one in the pre market.
Speaker 1: Okay, And we've got some potential deal news in the
Speaker 1: healthcare space this morning.
Speaker 3: That's right. Biolife Solutions. This company sells tools and services
Speaker 3: to drug makers that make cell therapies, and it's said
Speaker 3: to have attracted takeover interest from parties including Replegend according
Speaker 3: to people familiar with the matter, those that stock BLFS
Speaker 3: is up about one percent in the pre market, giving
Speaker 3: back some of the earlier gains. It wasn't clear how
Speaker 3: Biolife Science Supplies plans to respond to the takeover interest,
Speaker 3: and the sh shares have gained thirty percent in the
Speaker 3: past year around excitement over innovative treatments in the space
Speaker 3: that it worked for that space in general, there's been
Speaker 3: large consolidation over the past year.
Speaker 1: And finally, we've got to take a look at SpaceX
Speaker 1: this morning because it's getting closer to being included in
Speaker 1: one of the major indexes.
Speaker 3: That's right. So SPACEXSPCX is going to join the Nasdaq
Speaker 3: one hundred before the market open on the seventh, so
Speaker 3: next week, those shares are up about two percent in
Speaker 3: the pre market, about on pace with the general risk
Speaker 3: on tune for the market this morning. The market cap
Speaker 3: of two trillion dollars would make it the seventh largest
Speaker 3: member by that measure in the Nasdaq one hundred, and
Speaker 3: the NASDAK adjusted rules of when stocks could be eligible
Speaker 3: for the index a move scene as a way to
Speaker 3: add this one in earlier than it would typically be done,
Speaker 3: so a lot of this was already baked into the price.
Speaker 3: It's also worth noting that SpaceX is set to join Footsie,
Speaker 3: Russell one hundred indexes today, including the Russell one thousand
Speaker 3: and Bloomberg Intelligence estimate. This will spurt buying about five
Speaker 3: point four billion dollars over these two editions.
Speaker 2: The Stockmovers Report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
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