Comcast to Spin Off NBCUniversal; Rocket Lab to But Iridium; Chip Stocks Rebound
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Comcast to Spin Off NBCUniversal; Rocket Lab to But Iridium; Chip Stocks Rebound
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Narrated by:
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Comcast Corp. (CMCSA) move higher after the company said it plans to separate its media businesses from its cable-TV and internet operations, spinning off NBCUniversal and Sky into a new publicly traded company in a bid to increase value. Comcast shareholders will have stakes in both companies, the company said in a statement on Monday. The separation is expected to take place in a year, and requires board and regulatory approvals
- Shares of Rocket Lab (RKLB) rallied after the company announced an agreement to acquire Iridium Communications (IRDM), a pioneer in satellite telephones, for $54 a share in a cash-and-stock transaction as smaller players in the orbital economy try to catch up with market leader SpaceX.
- Chip stocks are rebounding following a 5.3% decline in the Philadelphia Semiconductor Index on Friday, with equipment stocks leading gains after South Korea’s Samsung and SK Hynix set out plans to build two chipmaking plants
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