Fox Slides, SpaceX Gains, TripAdvisor Soars
from Stock Movers Hosted by iHeartPodcasts
Today's biggest winners and losers in the stock market, a look at the notable movers: On this episode of Stock Movers: - Fox (FOX) will acquire Roku for $160 a share in a cash-and-stock deal that values the streaming video platform at an enterprise value of about $22 billion. Fox intends to finance the cash portion of the transaction with about $8.3 billion of new debt as well as cash, according to a separate release. The sharp decline in Fox shares means the stock component of the agreement would be worth less if it holds through the closing of the deal. - SpaceX (SPCX) shares jumped in their second day of trading, adding to gains following a blockbuster debut that instantly vaulted it into the ranks of the world’s most valuable public companies.The stock climbed as much as 16%, extending Friday’s 19% rally, to add almost $340 billion in market value. The move boosts the company’s market value to more than $2.4 trillion, putting it among the top six largest companies in the world. At its current market capitalization, it’s less than $220 billion away from overtaking Amazon.com Inc., which boasts a nearly $2.7 trillion value. - TripAdvisor (TRIP) shares soar as much as 14%, the most intraday since Aug. 8, after the online travel-research company agreed to sell restaurant reservation platform TheFork to American Express for $700 million.
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