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Bloomberg Audio Studios, podcasts, radio, news. >> The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. >> Let's take a look at some of the stocks on the move here today. We can do that with Bloomberg's Billy Lip Schultz. Billy, what are you looking at today?

Yeah, I want to talk about the stock of the day, Comcast ticker CMCSA, right now up just more than 8.5%. Uh, biggest gain since late April. That does come after news that the company is planning a tax-free spin-off of NBC Universal and Sky separating into two entities uh with Comcast focusing on technology and platforms, NBCU focusing on media and entertainment. Just want to call out a comment uh from Mike Kavanagh who will be the CEO at NBCU uh on the call basically asked why would you do this deal and he says uh previously believe that scale and diversification benefits warranted operating these businesses as one company quote we've now simply changed our mind about that we've now concluded the future of success for each of these businesses will depend on focus speed and strategic flexibility that the separation will unlock Paul love when these stocks you know merge together break up a little bit of You know who wins?

>> The bankers and the lawyers. You know, lawyers get fees, too. >> Goldman Sachs and PJT advising Comcast here. I think it's just simply Yeah, I think they're right. They they're in two challenged businesses. But the connectivity business, which is their cable TV and the broadband business, uh that's really declining in terms of the cable TV cord cutting. And then on the broadband business, which is a good business, it is really competitive. Let's take the those two businesses, spin them, I mean kind of leave them alone and let's spin out the stuff that um the theme parks we really like that and some of the cable networks were and the streaming businesses which and give them a shot to grow. So from that perspective, it makes sense. And I was just reading the Moffet Nathansson research and he just said, "Hey, remember back when they did this deal?

They bought these NBC Universal assets at trough cash flows and trough multiples back there coming out of the great financial crisis." And so it's been a good financial gain for them, but logic doesn't make sense. >> Not so long ago, Comcast tried but didn't end up buying Warner's brother Discovery. So this is quite the U-turn. >> Yeah. Yeah. The joke on Wall Street among media bankers, give Brian Roberts 5 years. He's ready to write a ticket. Yeah. So, there you go. What do you got?

What else you got? >> Yeah, the opposite. We've got a bit of a merger Monday. Rocket Lab, ticker RKB, in a deal to acquire Aridium Communications, ticker IRDM, uh, at a 8 billion valuation. The big thing to know is Rocket Lab, a key competitor with SpaceX in terms of getting things into space and Aridium has long been seen as a satellite competitor to SpaceX in terms of satellite connectivity, potentially direct to cell. So this is a move kind of on the heels of the SpaceX IPO. Rocket Lab trying to beef up its operations and expanding those offerings unlike Comcast, you know, kind of streamlining those operations. So Rocket Labs right now up almost 8% and Aridium up close to 20% trading around kind of that implic implied deal valuation of $54 a share. Again, cash and stock transaction. We normally don't see deal stocks rallying after uh a deal like this, but you got to keep in mind these are uh space stocks that have been beaten down the last few weeks. >> All right. Um last stock that you're watching. >> Yeah. Applied materials, ticker AMAT. Why?

I don't know. Uh semiconductor stocks down 2%. This is the best performer in the stock. So up 4% bucking a big pullback that we saw really in the last call it 20 30 minutes across semiconductors. We did see a number of analysts including Caner Fitzgerald raising price targets for applied materials kind of bullish uh outlook on AI infrastructure. Uh this is another company again surprise surprise viewed as uh benefiting from the AI buildout semiconductor cycle both durable and extended. Just wanted to call that out because again Philadelphia semiconductor index the socks down more than 2% right now but AAT up more than 4%. The 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.com, and on Apple CarPlay and Android Auto with the Bloomberg Business App.