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 Tom Keen with Paul Sweeny and Bloomberg's the Lexus Pistophers.
Speaker 3: All right, guys, let's start with the big deal of
Speaker 3: the day, which is Fox Core buying Roku for one
Speaker 3: hundred and sixty dollars a share in cash and stock,
Speaker 3: valuing the streaming service at about twenty two billion dollars.
Speaker 3: That's that takeover price, by the way, includes debt. This
Speaker 3: combined company is going to become the third largest player
Speaker 3: in US television by share of viewing. So more than
Speaker 3: one hundred million global households stream with Roku. I don't
Speaker 3: believe the number was that big, but take a look
Speaker 3: at these times, and Paul, maybe you can shed some light,
Speaker 3: being that you would work on these deals back in
Speaker 3: the day. But Roku is up only three tenths of
Speaker 3: a percent here and Fox Corp. Is down twelve and
Speaker 3: a half percent.
Speaker 1: Alexis is good observation. Are they going to invent a Peacock.
Speaker 4: Is that well here, I mean the stop is Alexis
Speaker 4: was saying the Fox stocked down thirteen percent.
Speaker 1: That's not good.
Speaker 4: That's not what their advisors told them. What happened to?
Speaker 4: Three four percent decline? Okay, thirteen percent. This is the
Speaker 4: market telling you, okay, Fox, you're now doubling down on
Speaker 4: TV when we've got the cord cutting thing. It's all
Speaker 4: about streaming.
Speaker 1: I don't know.
Speaker 4: So we've got some challenges there, you know.
Speaker 3: And Fox that it's received twelve billion in bridge financing
Speaker 3: from Morgan Stanley. Yeah, we're going to make some They're
Speaker 3: going to make some bank on that.
Speaker 1: Oh yeah.
Speaker 3: And also the founder and CEO, Anthony Wood's going to
Speaker 3: join Fox's board and have a role on the combined company.
Speaker 3: We don't know role, that's what role that's going to be.
Speaker 3: But Roku has been looking for somebody to buy it.
Speaker 3: You know, it is in increase competition Amazon, Apple investing
Speaker 3: heavily in their own streaming services.
Speaker 4: So and as Rich points out, Roku was up twenty
Speaker 4: percent on Friday. So there's the marketing kind of telling
Speaker 4: you a little bit.
Speaker 3: But it's just I mean meaning that it rallied head
Speaker 3: into this news ahead of aux news.
Speaker 4: They're really good on news, they're really good on sports.
Speaker 4: So let's add one hundred million households to that business.
Speaker 3: All right, Let's move on to the airlines, because United Airlines,
Speaker 3: Delta Southwest, they're all enjoying gains here this morning, up
Speaker 3: at least four percent or more because of that deal,
Speaker 3: that Entraim piece deal between the US and Aron that's
Speaker 3: supposed to open the strait of horror moves on Friday.
Speaker 3: But we've talked about it throughout the war. It's not
Speaker 3: They're not like going to flip a switch, you know,
Speaker 3: and all the oil just keeps flowing and we go
Speaker 3: back to levels pre war levels in terms of supply
Speaker 3: and all that. But the hope is that this is
Speaker 3: going to mean lower jet fuel costs for the airlines.
Speaker 3: I'd like to know if they're going to mean lower
Speaker 3: airfares for you and me. We've also got cruise operators
Speaker 3: higher this morning, so Real, Caribbean, Carnival, Norwegian all gaining
Speaker 3: on this same ye've.
Speaker 1: Spoken yet, you know, I like Robert D. Cap Let's
Speaker 1: phrase the Middle War, So I don't know if there's
Speaker 1: an analog, but most wars there's a huge deflationary disinflationary
Speaker 1: tendency to the war. I don't hear any people really
Speaker 1: talking about that.
Speaker 4: I don't.
Speaker 3: It's sort of kind of like, yeah, yeah, we kind
Speaker 3: of feel like inflation's sticky, you know.
Speaker 1: You know, to go back to one percent or two
Speaker 1: percent three month annualize inflation, I would say right now
Speaker 1: as a shock yet to get six years. I'm not
Speaker 1: predicting that, folks. I'm just the analog here is you
Speaker 1: get some deflation out.
Speaker 3: Kind of sort of like mortgage rates not hitting three
Speaker 3: percent again. Yeah, I hear you. All right, Crypto related
Speaker 3: stocks are hire. I'm talking coin Base, Robin Hood, oh
Speaker 3: strategy as well. I'm throwing that in there. They're all
Speaker 3: higher because Bitcoin, by the way, is now above sixty
Speaker 3: six five hundred dollars sort of quietly crept up because
Speaker 3: of this US a wrong piece deal sort of triggered
Speaker 3: a broad risk on move. Also, coin based CEO Brian
Speaker 3: Armstrong saying that he believes Bitcoin has probably bottomed at
Speaker 3: sixty k. I mean, I can understand why Brian Armstrong
Speaker 3: would say that. We've also got a Theorium up five percent,
Speaker 3: XRP up seven percent, Solana up four percent, So just
Speaker 3: in general Bitcoin bringing all the other coins up with
Speaker 3: it today.
Speaker 4: Yep, all right, I mean that's sixty thousand flour really
Speaker 4: held there.
Speaker 3: But I want to get wait, I really want to
Speaker 3: get your take, tom Despite the bullish catalyst, I saw
Speaker 3: this on the terminal one macro warning flashing sign coin
Speaker 3: desk flagging that yen short positions at a nine year
Speaker 3: high ahead of tomorrow's Bank of Japan.
Speaker 1: Great decisions there, some of the bets that are out there,
Speaker 1: are some of the things extended out there.
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