1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,320 --> 00:00:18,200 Speaker 3: All right, let's take a look at some stocks on 5 00:00:18,280 --> 00:00:21,160 Speaker 3: the move today. I'm Scarlet Fou with Alexus Christophers, and 6 00:00:21,360 --> 00:00:24,560 Speaker 3: let's bring in Bloomberg's Christine Aquino. And Christine, you're focusing 7 00:00:24,600 --> 00:00:26,880 Speaker 3: on one company whose shares have hit a record high. 8 00:00:27,200 --> 00:00:30,880 Speaker 1: Yeah, absolutely, Scarlet. That is Ecostar. John Tucker mentioned this 9 00:00:31,160 --> 00:00:35,320 Speaker 1: earlier as the subject of this deal with Elon Musk SpaceX. 10 00:00:35,360 --> 00:00:40,440 Speaker 1: So EchoStar ticker SATs shares are up more than eighteen 11 00:00:40,479 --> 00:00:43,239 Speaker 1: percent at the moment, so a healthy clip from that 12 00:00:43,360 --> 00:00:48,080 Speaker 1: deal is definitely investors taking this deal positively. So, as 13 00:00:48,159 --> 00:00:51,559 Speaker 1: John mentioned earlier, it is a deal to acquire for 14 00:00:51,640 --> 00:00:57,800 Speaker 1: SpaceX to acquire some EchoStar spectrum licenses so very designated 15 00:00:57,800 --> 00:01:01,240 Speaker 1: for satellite and mobile communications. By the way, Bloomberg reported 16 00:01:01,320 --> 00:01:04,360 Speaker 1: on this earlier and the company confirmed it in a statement, 17 00:01:04,520 --> 00:01:07,720 Speaker 1: and so you know, they're saying that the sale should 18 00:01:07,760 --> 00:01:11,160 Speaker 1: resolve inquiries from the FCC. Apparently the regulator was accusing 19 00:01:11,240 --> 00:01:15,160 Speaker 1: EchoStar in May of not effectively using the spectrum it 20 00:01:15,200 --> 00:01:17,959 Speaker 1: was awarded and threat to strip some of its valuable licenses. 21 00:01:18,080 --> 00:01:20,880 Speaker 1: So Bloomberg Intelligence weigh in on the deal, saying that 22 00:01:21,000 --> 00:01:25,399 Speaker 1: it may materially shape EchoStar's credit profile by enabling significant 23 00:01:25,440 --> 00:01:28,520 Speaker 1: debt reduction from its twenty seven billion dollar load. All right, 24 00:01:28,600 --> 00:01:31,040 Speaker 1: let's go into banking for a moment. PNC make it 25 00:01:31,080 --> 00:01:33,800 Speaker 1: a big push into Colorado and Arizona with a four 26 00:01:33,880 --> 00:01:37,200 Speaker 1: billion dollar deal. Yeah, absolutely, alexis a P and Z ticker. 27 00:01:37,360 --> 00:01:39,640 Speaker 1: P and C shares done more than one percent at 28 00:01:39,680 --> 00:01:42,760 Speaker 1: the moment, done one point three percent, So investors not 29 00:01:42,800 --> 00:01:46,360 Speaker 1: necessarily seeing that as positive at first blush, But yes. 30 00:01:46,520 --> 00:01:48,920 Speaker 1: P and Z agreed to buy First Bank Holding for 31 00:01:48,960 --> 00:01:52,480 Speaker 1: about four point one billion dollars. That will add twenty 32 00:01:52,520 --> 00:01:56,520 Speaker 1: six point eight billion dollars in assets for P and C, 33 00:01:56,680 --> 00:02:00,600 Speaker 1: particularly in Colorado and Arizona. That transaction expected to be 34 00:02:00,600 --> 00:02:04,320 Speaker 1: completed early next week. And after that acquisition, P andz's 35 00:02:04,400 --> 00:02:09,079 Speaker 1: total assets will be approaching six hundred billion dollars, so 36 00:02:09,200 --> 00:02:12,040 Speaker 1: that will bring it closer to the largest regional bank, 37 00:02:12,160 --> 00:02:15,160 Speaker 1: which is US Bankcorp. And BLUEBA Intelligence saying that the 38 00:02:15,160 --> 00:02:18,480 Speaker 1: pricing list conservative. The deal is at twelve point one 39 00:02:18,600 --> 00:02:20,640 Speaker 1: x annualized twenty twenty five EPs. 40 00:02:20,880 --> 00:02:23,200 Speaker 3: All right, so let's stay in the financial sector, but 41 00:02:23,280 --> 00:02:25,839 Speaker 3: move on to fintech company. Robinhood. 42 00:02:26,120 --> 00:02:29,680 Speaker 1: Yeah, absolutely, Scarlett, that is enjoying a nice bump this morning. 43 00:02:29,760 --> 00:02:33,920 Speaker 1: So Robinhood took her Hood shared her more than thirteen percent, 44 00:02:34,320 --> 00:02:36,760 Speaker 1: and that's because we did get news late on Friday 45 00:02:36,880 --> 00:02:38,480 Speaker 1: that it has been added to the S and P 46 00:02:38,600 --> 00:02:41,919 Speaker 1: five hundred. And you know, we know that its rise 47 00:02:42,040 --> 00:02:45,040 Speaker 1: was really during the pandemic when we had all these 48 00:02:45,080 --> 00:02:48,239 Speaker 1: retail traders probably board sitting at home and trying to 49 00:02:48,280 --> 00:02:50,120 Speaker 1: figure out what to do with their stimulus check. And 50 00:02:50,160 --> 00:02:54,480 Speaker 1: therefore Robinhood came in and provided a platform for them 51 00:02:54,520 --> 00:02:58,120 Speaker 1: to trade. And now five years later, it's becoming a 52 00:02:58,160 --> 00:03:00,640 Speaker 1: lot more legitimate by joining the SP five hundreds. So 53 00:03:00,840 --> 00:03:03,280 Speaker 1: that is quite astounding. And you know, the one perk 54 00:03:03,320 --> 00:03:06,320 Speaker 1: of joining the well, there's many perks, but one significant 55 00:03:06,320 --> 00:03:09,000 Speaker 1: perk for Robinhood by joining SAP five hundred is that 56 00:03:09,280 --> 00:03:12,760 Speaker 1: they will enter the portfolios of index funds, pension plans, 57 00:03:13,040 --> 00:03:17,440 Speaker 1: retirement accounts, which is quite the this or quite the 58 00:03:17,480 --> 00:03:20,960 Speaker 1: contrast between them and that type of investor and the 59 00:03:21,000 --> 00:03:22,959 Speaker 1: retal traders that have really given rise. 60 00:03:22,880 --> 00:03:28,280 Speaker 2: To Robinson, the stock mover's report from Bloomberg Radio. 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