1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,520 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,440 --> 00:00:18,400 Speaker 2: I want to take a look now at some stocks 5 00:00:18,440 --> 00:00:20,280 Speaker 2: on the move today, and there are plenty of them. 6 00:00:20,280 --> 00:00:23,040 Speaker 2: I'm Alexis Christoffers along with Paul Sweeney, and we are 7 00:00:23,079 --> 00:00:25,400 Speaker 2: joined by Tatiana Dary. So are you going to kick 8 00:00:25,400 --> 00:00:28,640 Speaker 2: things off with Crescent Energy? What have you got exactly? 9 00:00:28,680 --> 00:00:31,680 Speaker 3: Besides curing Doctor Pepper, Another MNA deal in the news 10 00:00:31,680 --> 00:00:36,879 Speaker 3: today is Crescent Energy, your ticker cr GY down about 11 00:00:37,280 --> 00:00:40,320 Speaker 3: six percent here after agreeing to buy Vitel Energy in 12 00:00:40,400 --> 00:00:43,800 Speaker 3: an all stock transaction valued at about three point one 13 00:00:44,000 --> 00:00:48,159 Speaker 3: billion dollars inclusive of Vitel's net debt, which as of 14 00:00:48,200 --> 00:00:51,240 Speaker 3: the last quarter was about two point four billion plus. 15 00:00:51,280 --> 00:00:54,200 Speaker 3: Its market cap is a Friday of six one hundred 16 00:00:54,200 --> 00:00:56,680 Speaker 3: million theire that's how you get to the evaluation. Well, 17 00:00:56,680 --> 00:00:59,360 Speaker 3: Anna is saying that the devil is in the pricing details, 18 00:00:59,480 --> 00:01:03,800 Speaker 3: noting the company's valuation is not very attractive and its 19 00:01:04,000 --> 00:01:07,760 Speaker 3: exposure in the Permian, the country's biggest oil field, has 20 00:01:07,880 --> 00:01:10,760 Speaker 3: largely run its course due to balance sheet constraints. But 21 00:01:10,840 --> 00:01:14,160 Speaker 3: you know, this deal just demonstrates how the US company's 22 00:01:14,240 --> 00:01:17,199 Speaker 3: or US shell operators are pursuing scale at a really 23 00:01:17,200 --> 00:01:20,600 Speaker 3: tough time for the industry where output is flat or 24 00:01:20,640 --> 00:01:25,720 Speaker 3: declining and energy prices guys have been WTI is down 25 00:01:25,760 --> 00:01:27,319 Speaker 3: about ten percent this year. 26 00:01:27,440 --> 00:01:31,160 Speaker 2: Yeah, Crescent was advised by Evercore and Jeffries, and Vital 27 00:01:31,240 --> 00:01:34,120 Speaker 2: Energy was advised by JP Morgan. I always call out 28 00:01:34,160 --> 00:01:36,559 Speaker 2: the bankers who are making the money who's getting paid. 29 00:01:36,440 --> 00:01:41,520 Speaker 3: There, wayfair wayfair Well wayfair down about seven percent, and 30 00:01:41,600 --> 00:01:45,360 Speaker 3: it's peers our age Williamsinama down a similar amount, taking 31 00:01:45,400 --> 00:01:48,960 Speaker 3: a hit after President Trump announced a major tariff investigation 32 00:01:49,080 --> 00:01:53,080 Speaker 3: on furniture coming to the US within the next fifty days. 33 00:01:53,480 --> 00:01:55,640 Speaker 3: And for context, the US here is by far the 34 00:01:55,760 --> 00:01:59,640 Speaker 3: largest furniture importer in the world, and this would affect 35 00:01:59,680 --> 00:02:03,600 Speaker 3: about fifty eight billion dollars worth of imports. So this 36 00:02:03,640 --> 00:02:06,000 Speaker 3: is casting a shadow on the sector until we get 37 00:02:06,000 --> 00:02:08,640 Speaker 3: the news. Fifty days is a long time and we 38 00:02:08,680 --> 00:02:12,119 Speaker 3: don't have a rate, so obviously the jitters there are 39 00:02:12,240 --> 00:02:15,440 Speaker 3: very high. However, anallysts say there could be a buying 40 00:02:15,520 --> 00:02:18,720 Speaker 3: opportunity later on when the news is out, because as 41 00:02:18,720 --> 00:02:22,520 Speaker 3: we know, with tariffs, the scare is big at the beginning, 42 00:02:22,639 --> 00:02:28,200 Speaker 3: and then the end result it's much less overblown as 43 00:02:28,280 --> 00:02:30,400 Speaker 3: at the beginning. But you know, it's yet another story 44 00:02:30,440 --> 00:02:33,079 Speaker 3: that brings Travis back. Right just when you thought they're 45 00:02:33,080 --> 00:02:33,880 Speaker 3: going away. 46 00:02:33,800 --> 00:02:37,480 Speaker 2: They're back these as I think and you said, Netflix, 47 00:02:37,480 --> 00:02:38,839 Speaker 2: I don't know what's going on. Don't tell me they're 48 00:02:38,880 --> 00:02:39,800 Speaker 2: raising prices again. 49 00:02:40,040 --> 00:02:43,760 Speaker 3: Well no, actually this is a fun one. Netflix shares 50 00:02:43,800 --> 00:02:47,760 Speaker 3: ticker NFLX up about two percent. They're the top gainer 51 00:02:47,800 --> 00:02:49,760 Speaker 3: in the S and P five hundred. The company is 52 00:02:49,800 --> 00:02:53,520 Speaker 3: about to launch its first ever Netflix houses in Philadelphia 53 00:02:53,560 --> 00:02:57,680 Speaker 3: in October and Dallas in November. This is a permanent, 54 00:02:57,880 --> 00:03:00,320 Speaker 3: year round home for fans that is free to enter 55 00:03:00,400 --> 00:03:04,720 Speaker 3: and browse around, uh with interactive experiences. The best part 56 00:03:04,880 --> 00:03:08,080 Speaker 3: is free to enter, but they get you with the experiences. Well, 57 00:03:08,200 --> 00:03:11,240 Speaker 3: you do have to pay. And this just shows how 58 00:03:11,240 --> 00:03:14,000 Speaker 3: the company is seeking to expand beyond just streaming your 59 00:03:14,000 --> 00:03:17,440 Speaker 3: favorite shows, and it aligns with its long term strategy 60 00:03:17,520 --> 00:03:20,000 Speaker 3: of creating a new level of engagement. 61 00:03:21,440 --> 00:03:25,480 Speaker 1: The Stock Movers Report from Bloomberg Radio. Check back with 62 00:03:25,560 --> 00:03:28,119 Speaker 1: us throughout the day for the latest roundup of companies 63 00:03:28,200 --> 00:03:31,320 Speaker 1: making news on Wall Street and for the latest market 64 00:03:31,320 --> 00:03:35,800 Speaker 1: moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube, 65 00:03:35,920 --> 00:03:39,400 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 66 00:03:39,480 --> 00:03:40,960 Speaker 1: the Bloomberg Business app.