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 3: I'm Carol Masser along with Tim Stanovic. Let's get to
Speaker 3: some stocks on the move, and we've got a few
Speaker 3: names that we've been focusing on. One of them is
Speaker 3: Comcast the cable sector. We have continued to see media
Speaker 3: content cable changing a lot over the last ten to
Speaker 3: fifteen years in a big way. But Comcast was definitely
Speaker 3: on the move today at its highs up just about
Speaker 3: seventeen percent intra day. Tim this has Comcast plans to
Speaker 3: spin off NBC Universal in Sky into a new company
Speaker 3: holding businesses such as theme parks, film and TV studios,
Speaker 3: and also the pcock streaming service. Comcast meantime, we'll hold
Speaker 3: its original cable, TV, broadband and wireless businesses. Shareholder will
Speaker 3: have shares in both companies after the spinoff. The separation
Speaker 3: expected to take place in about a year, subject to
Speaker 3: board and regulatory approvals, and will allow both businesses to
Speaker 3: move forward with greater focus and agility, so say the company.
Speaker 3: But Comcasts finishing the day with about a four and
Speaker 3: a half percent gain, But interesting to see that.
Speaker 1: Well at the end of an era, I mean the
Speaker 1: great unbundling of content and media from Comcast. I mean
Speaker 1: they spun off CNBC and what is now MS now
Speaker 1: into Versin. Right, that stock fell when it started trading.
Speaker 1: Now it's kind of gone sideways in terms of a
Speaker 1: trade this year. And I think what's surprising to me
Speaker 1: is the timing of this, Like, why wouldn't they have
Speaker 1: spun all of them off into one single company?
Speaker 3: Yeah, And I don't know as the strategy change, I
Speaker 3: mean yeah, yeah, And I think they're reacting to it right,
Speaker 3: staying with Cable for just a moment. And want to
Speaker 3: mention off of that that. Charter Communications was up as
Speaker 3: much as twenty six percent today's session, finishing the with
Speaker 3: a gain of about nine point four percent. Charter Communications
Speaker 3: bonds where the leading us higheal gainers today. Following comcast
Speaker 3: plan to spin off its media assets. There was also
Speaker 3: a Bloomberg report that Charter and SpaceX have been in
Speaker 3: talks about a consumer mobile phone offering. Comcast move could
Speaker 3: pave the way for M and A across both the
Speaker 3: connectivity and media businesses. According to a note from Bloomberg Intelligence,
Speaker 3: Alis Githa bringing Athon and Ravino Douglas. I do also
Speaker 3: want to just layer on top of that Wall Street
Speaker 3: Journal writing the Comcast News has quote investors betting on
Speaker 3: the prospect of Comcast acquiring Charter after the Splits completion
Speaker 3: to bolster its broadband operations and the prospects of growing competition.
Speaker 3: So there's those two cable companies, and I'm going to
Speaker 3: throw one more at at you. We talked about SpaceX
Speaker 3: and Tesla both rallying today, some stuff going on there.
Speaker 3: We continue to watch those two companies, But I thought
Speaker 3: more interesting was rocket Lab. It was top of the
Speaker 3: Nasdaq one hundred rocket Lab agreeing to buy Iridium Communications.
Speaker 3: It was a cash and stock transition transaction combining launch
Speaker 3: capabilities and satellite manufacturing with Iridium's low Earth orbit network.
Speaker 3: The deal putting the satellite communications company about an eight
Speaker 3: billion dollar enterprise value. The move aiming to create a competitive,
Speaker 3: vertically integrated space company and gives rocket Lab a foothold
Speaker 3: in the emerging market of direct to device providing satellite
Speaker 3: service to smartphones and other equipment. So basically going at SpaceX,
Speaker 3: don't you think, And basically Starlink. Yeah.
Speaker 1: I mean, like we spoke about last week with the
Speaker 1: founder of Hubble Network, I'm pretty reliant on SpaceX.
Speaker 3: But looking at like you kind of teased a little bit. Yeah,
Speaker 3: the companies that they may work with.
Speaker 1: Yeah, but no question, SpaceX is the leader at this point.
Speaker 3: All right, that's my gainers today? Did I mention?
Speaker 2: What was.
Speaker 3: Rocket Lab? Up? Okay?
Speaker 1: At let's fix Okay, sorry, Let's go do some stocks
Speaker 1: that are making big moves after hours. I want to
Speaker 1: start with Concentrics. Shares of the company falling in after
Speaker 1: hours trade, and the company cut its twenty twenty six guidance.
Speaker 1: Their concerns about what's happening when it comes to AI.
Speaker 1: Shares down about twenty five and a half percent. In
Speaker 1: terms of what actually moved the company lower in the
Speaker 1: after hours, the software company slashed its full yer outlook.
Speaker 1: The company forecast reported revenue and adjusted earnings per share
Speaker 1: for the third quarter that fell short of Wall Street's expectations.
Speaker 1: Once again, Concentrics shares down in the after hours by
Speaker 1: about twenty five percent. Let's also talk about SMCI super
Speaker 1: micro computer worst performer in the S and P five
Speaker 1: hundred today. This afternoons that the offices in Taiwan were
Speaker 1: raided by government authorities. It's part of an investigation into
Speaker 1: the alleged smuggling and video chips into China. Using the
Speaker 1: company servers, investigators rated the residences of six individuals and
Speaker 1: the sites of three affiliated companies, including super Micro's Taiwan office,
Speaker 1: Howey's data center operator, and super Micro distributor Albatron Tech.
Speaker 1: It's part of Taiwan's crackdown on aichip diversion. Taipei considering
Speaker 1: criminalizing exports of AI chips to China and fortifying its
Speaker 1: export controls to better align with the US smci IS.
Speaker 1: The ticker shares fell by eight point one percent, and
Speaker 1: I might not have mentioned Concentrics ticker CNXC.
Speaker 2: This stock movers report from Bloomberg Radio. Check back with
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