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 2: Let's take a look at some stocks on the move today.
Speaker 2: I'm Tom Keen with Paul Sweeney and Bloomberg's Alexis Christopher's
Speaker 2: what do you have?
Speaker 3: Well, we have to talk about Comcast. It's really the
Speaker 3: stock story of the day. It is up twenty three
Speaker 3: percent in the pre market and it's been having a
Speaker 3: tough time, down seventeen percent year. Data took a look
Speaker 3: at its one year return, down thirty four percent. So
Speaker 3: today the company announced plans to separate its media business
Speaker 3: from its cable TV and internet operations. It's going to
Speaker 3: spin off NBC Universal and Sky, which is of course
Speaker 3: based in England, into a new publicly traded company in
Speaker 3: a bid to increase value. To unlock value, this pure
Speaker 3: play media company is going to be led by Mike Cavanaugh,
Speaker 3: who's currently Comcast's co CEO, and the former chief financial officer,
Speaker 3: Michael Angelocis is going to return to run Comcast. So
Speaker 3: here's how it's going to break down. NBC Universal going
Speaker 3: to include universals, film and TV studios. It's growing Theme
Speaker 3: parks division. I haven't been to that park in a
Speaker 3: while over on the West coast, but that's a lot
Speaker 3: of fun. I have to say, the NBC and Telemundow networks, Bravo,
Speaker 3: Peacock streaming service, and like we said, the European business Sky.
Speaker 3: The remaining Comcast business is going to consist of the
Speaker 3: company's broadband, wireless, cable TV operations. Comcast also has been
Speaker 3: working to you know, prevent people from cutting the cord,
Speaker 3: which I think all of the cable companies are trying
Speaker 3: to deal with. This is going to be a tax
Speaker 3: free spin off expected to happen in about a year's time,
Speaker 3: and Comcast shareholders will own shares in both Comcast and
Speaker 3: NBC Universal when the deal is done.
Speaker 1: Discuss yep, So there we go. It's you know, create values. KEITHA.
Speaker 1: Rounganath and Bloomberg intelligence that NBC Universal today is greatly
Speaker 1: under as part of Comcasts per her analysis. So you
Speaker 1: split them apart, you highlight the value, and then number two,
Speaker 1: maybe you set up an exit strategy for one of
Speaker 1: these companies to consolidate. Maybe an exit strategy for some
Speaker 1: of the Roberts founder. That's my thought.
Speaker 2: Well, for example, off our radar, Telemundo mince money, right.
Speaker 1: Yeah, I mean some of the networks are still driving cash,
Speaker 1: but they're just their rate of growth is declining pretty
Speaker 1: dramatically because of cord cutting. When you say consolidation, what
Speaker 1: do you mean, Well, if you have a standalone cable company,
Speaker 1: maybe that you can do something with that. With a
Speaker 1: Charter for example, which is up twenty five percent per marketry,
Speaker 1: that's another one of my stocks to watch, an NBC Universal.
Speaker 1: Maybe they can be part of another media company. We
Speaker 1: don't have time here, but buried this weekend was an
Speaker 1: article on CNN and CBS are really in the same family? Now, yep?
Speaker 3: Do we understand a paramount Sky downs? Yeah, that's in
Speaker 3: the zeitgeist, but not really. It's all getting really messy,
Speaker 3: really exactly Charter Community. Why don't we jump to Charter
Speaker 3: Communications since you mentioned it, Paul, because the stock is
Speaker 3: up twenty four four percent here It had been down
Speaker 3: thirty six percent a year to date, so a few
Speaker 3: things going on. I can't believe this is the only
Speaker 3: reason why the stock is rallying, But it's discussed partnering
Speaker 3: with SpaceX on a consumer mobile phone offering, where Charter
Speaker 3: might run some of SpaceX's phone traffic through its ground
Speaker 3: based internet infrastructure. This is according to sources being reported
Speaker 3: by Bloomberg. Even so, we've got City lowering the firm's
Speaker 3: price target on Charter to one ninety from two thirty,
Speaker 3: keeping a buy rating there. And I just want to
Speaker 3: also mention SpaceX up nearly two percent. It's going to
Speaker 3: be added to the Nasdaq one hundred beginning July seventh.
Speaker 3: And I know people are going, well, wait a minute, Alexis.
Speaker 3: You told me it's not going to be added to
Speaker 3: an index for twelve months and until it consistently turns
Speaker 3: a profit. True only with regards to the s and
Speaker 3: P five hundred still has to wait on that. Do
Speaker 3: we have time for one more quick?
Speaker 2: Sure?
Speaker 3: Iridium up twenty one and a half percent. Rocket Lab
Speaker 3: is going to buy the satellite communications company. It's a
Speaker 3: cash and stock deal that values shares of Iridium at
Speaker 3: fifty four dollars a share, giving it an enterprise value
Speaker 3: of about eight billion dollars. What's it going to do
Speaker 3: for rocket Lab? Give a control over a satellite fleet
Speaker 3: and access to wireless resources that it can use to
Speaker 3: compete with SpaceX.
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