WEBVTT - Rocket Lab Jumps, Comcast Soars on Split, Concentrix Sinks

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

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

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

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<v Speaker 3>I'm Carol Masser along with Tim Stanovic. Let's get to

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<v Speaker 3>some stocks on the move, and we've got a few

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<v Speaker 3>names that we've been focusing on. One of them is

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<v Speaker 3>Comcast the cable sector. We have continued to see media

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<v Speaker 3>content cable changing a lot over the last ten to

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<v Speaker 3>fifteen years in a big way. But Comcast was definitely

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<v Speaker 3>on the move today at its highs up just about

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<v Speaker 3>seventeen percent intra day. Tim this has Comcast plans to

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<v Speaker 3>spin off NBC Universal in Sky into a new company

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<v Speaker 3>holding businesses such as theme parks, film and TV studios,

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<v Speaker 3>and also the pcock streaming service. Comcast meantime, we'll hold

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<v Speaker 3>its original cable, TV, broadband and wireless businesses. Shareholder will

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<v Speaker 3>have shares in both companies after the spinoff. The separation

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<v Speaker 3>expected to take place in about a year, subject to

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<v Speaker 3>board and regulatory approvals, and will allow both businesses to

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<v Speaker 3>move forward with greater focus and agility, so say the company.

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<v Speaker 3>But Comcasts finishing the day with about a four and

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<v Speaker 3>a half percent gain, But interesting to see that.

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<v Speaker 1>Well at the end of an era, I mean the

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<v Speaker 1>great unbundling of content and media from Comcast. I mean

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<v Speaker 1>they spun off CNBC and what is now MS now

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<v Speaker 1>into Versin. Right, that stock fell when it started trading.

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<v Speaker 1>Now it's kind of gone sideways in terms of a

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<v Speaker 1>trade this year. And I think what's surprising to me

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<v Speaker 1>is the timing of this, Like, why wouldn't they have

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<v Speaker 1>spun all of them off into one single company?

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<v Speaker 3>Yeah, And I don't know as the strategy change, I

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<v Speaker 3>mean yeah, yeah, And I think they're reacting to it right,

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<v Speaker 3>staying with Cable for just a moment. And want to

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<v Speaker 3>mention off of that that. Charter Communications was up as

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<v Speaker 3>much as twenty six percent today's session, finishing the with

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<v Speaker 3>a gain of about nine point four percent. Charter Communications

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<v Speaker 3>bonds where the leading us higheal gainers today. Following comcast

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<v Speaker 3>plan to spin off its media assets. There was also

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<v Speaker 3>a Bloomberg report that Charter and SpaceX have been in

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<v Speaker 3>talks about a consumer mobile phone offering. Comcast move could

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<v Speaker 3>pave the way for M and A across both the

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<v Speaker 3>connectivity and media businesses. According to a note from Bloomberg Intelligence,

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<v Speaker 3>Alis Githa bringing Athon and Ravino Douglas. I do also

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<v Speaker 3>want to just layer on top of that Wall Street

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<v Speaker 3>Journal writing the Comcast News has quote investors betting on

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<v Speaker 3>the prospect of Comcast acquiring Charter after the Splits completion

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<v Speaker 3>to bolster its broadband operations and the prospects of growing competition.

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<v Speaker 3>So there's those two cable companies, and I'm going to

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<v Speaker 3>throw one more at at you. We talked about SpaceX

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<v Speaker 3>and Tesla both rallying today, some stuff going on there.

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<v Speaker 3>We continue to watch those two companies, But I thought

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<v Speaker 3>more interesting was rocket Lab. It was top of the

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<v Speaker 3>Nasdaq one hundred rocket Lab agreeing to buy Iridium Communications.

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<v Speaker 3>It was a cash and stock transition transaction combining launch

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<v Speaker 3>capabilities and satellite manufacturing with Iridium's low Earth orbit network.

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<v Speaker 3>The deal putting the satellite communications company about an eight

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<v Speaker 3>billion dollar enterprise value. The move aiming to create a competitive,

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<v Speaker 3>vertically integrated space company and gives rocket Lab a foothold

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<v Speaker 3>in the emerging market of direct to device providing satellite

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<v Speaker 3>service to smartphones and other equipment. So basically going at SpaceX,

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<v Speaker 3>don't you think, And basically Starlink. Yeah.

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<v Speaker 1>I mean, like we spoke about last week with the

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<v Speaker 1>founder of Hubble Network, I'm pretty reliant on SpaceX.

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<v Speaker 3>But looking at like you kind of teased a little bit. Yeah,

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<v Speaker 3>the companies that they may work with.

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<v Speaker 1>Yeah, but no question, SpaceX is the leader at this point.

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<v Speaker 3>All right, that's my gainers today? Did I mention?

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<v Speaker 2>What was.

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<v Speaker 3>Rocket Lab? Up? Okay?

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<v Speaker 1>At let's fix Okay, sorry, Let's go do some stocks

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<v Speaker 1>that are making big moves after hours. I want to

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<v Speaker 1>start with Concentrics. Shares of the company falling in after

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<v Speaker 1>hours trade, and the company cut its twenty twenty six guidance.

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<v Speaker 1>Their concerns about what's happening when it comes to AI.

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<v Speaker 1>Shares down about twenty five and a half percent. In

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<v Speaker 1>terms of what actually moved the company lower in the

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<v Speaker 1>after hours, the software company slashed its full yer outlook.

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<v Speaker 1>The company forecast reported revenue and adjusted earnings per share

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<v Speaker 1>for the third quarter that fell short of Wall Street's expectations.

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<v Speaker 1>Once again, Concentrics shares down in the after hours by

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<v Speaker 1>about twenty five percent. Let's also talk about SMCI super

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<v Speaker 1>micro computer worst performer in the S and P five

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<v Speaker 1>hundred today. This afternoons that the offices in Taiwan were

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<v Speaker 1>raided by government authorities. It's part of an investigation into

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<v Speaker 1>the alleged smuggling and video chips into China. Using the

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<v Speaker 1>company servers, investigators rated the residences of six individuals and

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<v Speaker 1>the sites of three affiliated companies, including super Micro's Taiwan office,

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<v Speaker 1>Howey's data center operator, and super Micro distributor Albatron Tech.

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<v Speaker 1>It's part of Taiwan's crackdown on aichip diversion. Taipei considering

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<v Speaker 1>criminalizing exports of AI chips to China and fortifying its

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<v Speaker 1>export controls to better align with the US smci IS.

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<v Speaker 1>The ticker shares fell by eight point one percent, and

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<v Speaker 1>I might not have mentioned Concentrics ticker CNXC.

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

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<v Speaker 2>us throughout the day for the latest roundup of companies

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<v Speaker 2>making news on Wall Street and for the latest market

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<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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