WEBVTT - Roku-Fox Deal; Airlines Higher; Bitcoin Jump

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Tom Keen with Paul Sweeny and Bloomberg's the Lexus Pistophers.

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<v Speaker 3>All right, guys, let's start with the big deal of

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<v Speaker 3>the day, which is Fox Core buying Roku for one

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<v Speaker 3>hundred and sixty dollars a share in cash and stock,

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<v Speaker 3>valuing the streaming service at about twenty two billion dollars.

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<v Speaker 3>That's that takeover price, by the way, includes debt. This

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<v Speaker 3>combined company is going to become the third largest player

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<v Speaker 3>in US television by share of viewing. So more than

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<v Speaker 3>one hundred million global households stream with Roku. I don't

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<v Speaker 3>believe the number was that big, but take a look

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<v Speaker 3>at these times, and Paul, maybe you can shed some light,

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<v Speaker 3>being that you would work on these deals back in

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<v Speaker 3>the day. But Roku is up only three tenths of

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<v Speaker 3>a percent here and Fox Corp. Is down twelve and

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<v Speaker 3>a half percent.

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<v Speaker 1>Alexis is good observation. Are they going to invent a Peacock.

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<v Speaker 4>Is that well here, I mean the stop is Alexis

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<v Speaker 4>was saying the Fox stocked down thirteen percent.

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<v Speaker 1>That's not good.

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<v Speaker 4>That's not what their advisors told them. What happened to?

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<v Speaker 4>Three four percent decline? Okay, thirteen percent. This is the

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<v Speaker 4>market telling you, okay, Fox, you're now doubling down on

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<v Speaker 4>TV when we've got the cord cutting thing. It's all

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<v Speaker 4>about streaming.

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<v Speaker 1>I don't know.

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<v Speaker 4>So we've got some challenges there, you know.

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<v Speaker 3>And Fox that it's received twelve billion in bridge financing

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<v Speaker 3>from Morgan Stanley. Yeah, we're going to make some They're

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<v Speaker 3>going to make some bank on that.

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<v Speaker 1>Oh yeah.

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<v Speaker 3>And also the founder and CEO, Anthony Wood's going to

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<v Speaker 3>join Fox's board and have a role on the combined company.

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<v Speaker 3>We don't know role, that's what role that's going to be.

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<v Speaker 3>But Roku has been looking for somebody to buy it.

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<v Speaker 3>You know, it is in increase competition Amazon, Apple investing

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<v Speaker 3>heavily in their own streaming services.

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<v Speaker 4>So and as Rich points out, Roku was up twenty

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<v Speaker 4>percent on Friday. So there's the marketing kind of telling

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<v Speaker 4>you a little bit.

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<v Speaker 3>But it's just I mean meaning that it rallied head

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<v Speaker 3>into this news ahead of aux news.

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<v Speaker 4>They're really good on news, they're really good on sports.

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<v Speaker 4>So let's add one hundred million households to that business.

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<v Speaker 3>All right, Let's move on to the airlines, because United Airlines,

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<v Speaker 3>Delta Southwest, they're all enjoying gains here this morning, up

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<v Speaker 3>at least four percent or more because of that deal,

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<v Speaker 3>that Entraim piece deal between the US and Aron that's

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<v Speaker 3>supposed to open the strait of horror moves on Friday.

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<v Speaker 3>But we've talked about it throughout the war. It's not

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<v Speaker 3>They're not like going to flip a switch, you know,

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<v Speaker 3>and all the oil just keeps flowing and we go

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<v Speaker 3>back to levels pre war levels in terms of supply

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<v Speaker 3>and all that. But the hope is that this is

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<v Speaker 3>going to mean lower jet fuel costs for the airlines.

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<v Speaker 3>I'd like to know if they're going to mean lower

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<v Speaker 3>airfares for you and me. We've also got cruise operators

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<v Speaker 3>higher this morning, so Real, Caribbean, Carnival, Norwegian all gaining

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<v Speaker 3>on this same ye've.

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<v Speaker 1>Spoken yet, you know, I like Robert D. Cap Let's

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<v Speaker 1>phrase the Middle War, So I don't know if there's

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<v Speaker 1>an analog, but most wars there's a huge deflationary disinflationary

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<v Speaker 1>tendency to the war. I don't hear any people really

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<v Speaker 1>talking about that.

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<v Speaker 4>I don't.

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<v Speaker 3>It's sort of kind of like, yeah, yeah, we kind

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<v Speaker 3>of feel like inflation's sticky, you know.

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<v Speaker 1>You know, to go back to one percent or two

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<v Speaker 1>percent three month annualize inflation, I would say right now

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<v Speaker 1>as a shock yet to get six years. I'm not

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<v Speaker 1>predicting that, folks. I'm just the analog here is you

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<v Speaker 1>get some deflation out.

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<v Speaker 3>Kind of sort of like mortgage rates not hitting three

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<v Speaker 3>percent again. Yeah, I hear you. All right, Crypto related

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<v Speaker 3>stocks are hire. I'm talking coin Base, Robin Hood, oh

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<v Speaker 3>strategy as well. I'm throwing that in there. They're all

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<v Speaker 3>higher because Bitcoin, by the way, is now above sixty

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<v Speaker 3>six five hundred dollars sort of quietly crept up because

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<v Speaker 3>of this US a wrong piece deal sort of triggered

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<v Speaker 3>a broad risk on move. Also, coin based CEO Brian

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<v Speaker 3>Armstrong saying that he believes Bitcoin has probably bottomed at

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<v Speaker 3>sixty k. I mean, I can understand why Brian Armstrong

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<v Speaker 3>would say that. We've also got a Theorium up five percent,

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<v Speaker 3>XRP up seven percent, Solana up four percent, So just

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<v Speaker 3>in general Bitcoin bringing all the other coins up with

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<v Speaker 3>it today.

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<v Speaker 4>Yep, all right, I mean that's sixty thousand flour really

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<v Speaker 4>held there.

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<v Speaker 3>But I want to get wait, I really want to

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<v Speaker 3>get your take, tom Despite the bullish catalyst, I saw

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<v Speaker 3>this on the terminal one macro warning flashing sign coin

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<v Speaker 3>desk flagging that yen short positions at a nine year

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<v Speaker 3>high ahead of tomorrow's Bank of Japan.

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<v Speaker 1>Great decisions there, some of the bets that are out there,

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<v Speaker 1>are some of the things extended out there.

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<v Speaker 2>This stock Movers report from Bloomberg Radio. Check back with

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