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Let's take a look at some stocks on the move today. I'm Tom Keen with Paul Sweeny and Bloomberg's the Lexus Pistophers.
All right, guys, let's start with the big deal of the day, which is Fox Core buying Roku for one hundred and sixty dollars a share in cash and stock, valuing the streaming service at about twenty two billion dollars. That's that takeover price, by the way, includes debt. This combined company is going to become the third largest player in US television by share of viewing. So more than
one hundred million global households stream with Roku. I don't believe the number was that big, but take a look at these times, and Paul, maybe you can shed some light, being that you would work on these deals back in the day. But Roku is up only three tenths of a percent here and Fox Corp. Is down twelve and a half percent.
Alexis is good observation. Are they going to invent a Peacock.
Is that well here, I mean the stop is Alexis was saying the Fox stocked down thirteen percent.
That's not good.
That's not what their advisors told them. What happened to? Three four percent decline? Okay, thirteen percent. This is the market telling you, okay, Fox, you're now doubling down on TV when we've got the cord cutting thing. It's all about streaming.
I don't know.
So we've got some challenges there, you know.
And Fox that it's received twelve billion in bridge financing from Morgan Stanley. Yeah, we're going to make some They're going to make some bank on that.
Oh yeah.
And also the founder and CEO, Anthony Wood's going to join Fox's board and have a role on the combined company. We don't know role, that's what role that's going to be. But Roku has been looking for somebody to buy it. You know, it is in increase competition Amazon, Apple investing heavily in their own streaming services.
So and as Rich points out, Roku was up twenty percent on Friday. So there's the marketing kind of telling you a little bit.
But it's just I mean meaning that it rallied head into this news ahead of aux news.
They're really good on news, they're really good on sports. So let's add one hundred million households to that business.
All right, Let's move on to the airlines, because United Airlines, Delta Southwest, they're all enjoying gains here this morning, up at least four percent or more because of that deal, that Entraim piece deal between the US and Aron that's supposed to open the strait of horror moves on Friday. But we've talked about it throughout the war. It's not They're not like going to flip a switch, you know, and all the oil just keeps flowing and we go back to levels pre war levels in terms of supply
and all that. But the hope is that this is going to mean lower jet fuel costs for the airlines. I'd like to know if they're going to mean lower airfares for you and me. We've also got cruise operators higher this morning, so Real, Caribbean, Carnival, Norwegian all gaining on this same ye've.
Spoken yet, you know, I like Robert D. Cap Let's phrase the Middle War, So I don't know if there's an analog, but most wars there's a huge deflationary disinflationary tendency to the war. I don't hear any people really talking about that.
I don't.
It's sort of kind of like, yeah, yeah, we kind of feel like inflation's sticky, you know.
You know, to go back to one percent or two percent three month annualize inflation, I would say right now as a shock yet to get six years. I'm not predicting that, folks. I'm just the analog here is you get some deflation out.
Kind of sort of like mortgage rates not hitting three percent again. Yeah, I hear you. All right, Crypto related stocks are hire. I'm talking coin Base, Robin Hood, oh strategy as well. I'm throwing that in there. They're all higher because Bitcoin, by the way, is now above sixty six five hundred dollars sort of quietly crept up because of this US a wrong piece deal sort of triggered
a broad risk on move. Also, coin based CEO Brian Armstrong saying that he believes Bitcoin has probably bottomed at sixty k. I mean, I can understand why Brian Armstrong would say that. We've also got a Theorium up five percent, XRP up seven percent, Solana up four percent, So just in general Bitcoin bringing all the other coins up with it today.
Yep, all right, I mean that's sixty thousand flour really held there.
But I want to get wait, I really want to get your take, tom Despite the bullish catalyst, I saw this on the terminal one macro warning flashing sign coin desk flagging that yen short positions at a nine year high ahead of tomorrow's Bank of Japan.
Great decisions there, some of the bets that are out there, are some of the things extended out there.
This stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.