00:00All right, guys, let's start with the big deal of the day, which is Fox Corp buying Roku for $160
00:05a share in cash and stock, valuing the streaming service at about $22 billion. That's that takeover
00:14price, by the way, includes debt. This combined company is going to become the third largest
00:18player in U.S. television by share of viewing. So more than 100 million global households stream
00:24with Roku. I didn't believe the number was that big. But take a look at these times. And Paul,
00:29maybe you can shed some light being that you would work on these deals back in the day. But
00:33Roku is up only three tenths of a percent here. And Fox Corp is down 12 and a half percent.
00:39To Alexis's good observation, are they going to invent a peacock? Is that?
00:44Well, here, I mean, the stock is Alexis was saying the Fox stock down 13 percent. That's not good.
00:50That's not what their advisors told them what happened at three, four percent decline. OK,
00:5413 percent. This is the market telling you, OK, Fox, you're now doubling down on TV when we've
01:02got the cord cutting thing. It's all about streaming. I don't know. So we've got some
01:05challenges there. You know, and Fox said it's received 12 billion in bridge financing from
01:11Morgan Stanley. Nice.
01:12Yeah. They're going to make some they're going to make some bank on that. Oh, yeah.
01:15And also the founder and CEO, Anthony Woods, going to join Fox's board and have a role in
01:19the combined company. We don't know role. That's what role that's going to be. But Roku has been
01:22looking for somebody to buy it. You know, it's increased competition. Amazon, Apple investing
01:28heavily in their own streaming services. So and as Rich points out, Roku was up 20 percent on Friday.
01:33So there there's the market kind of telling you a little bit. But there you go. I mean,
01:36meaning that it rallied ahead into this news. They're really good on news. They're really
01:41good on sports. So let's add 100 million households to that business. All right. Let's
01:45move on to the airlines, because United Airlines, Delta, Southwest, they're all enjoying gains here
01:51this morning, up at least four percent or more because of that deal, that interim peace deal
01:56between the U.S. and Iran that's supposed to open the Strait of Hormuz on on Friday. But we've
02:00talked about it throughout the war. It's not they're not like going to flip a switch, you know,
02:03and all the oil just keeps flowing. And we go back to levels, pre-war levels in terms of supply
02:09and all that. But but the hope is that this is going to mean lower jet fuel costs for the
02:13airlines.
02:13I'd like to know if they're going to mean lower airfares for you and me. We've also got cruise
02:17operators higher this morning. So Royal Caribbean, Carnival, Norwegian all gaining on this.
02:23It is unspoken yet. And I like Robert D. Kaplan's phrase, the middle war. So I don't know if
02:28there's an analog, but most wars, there's a huge deflationary, disinflationary tendency
02:36after the war. I don't hear many people really talking about that.
02:40I don't. It's sort of sort of kind of like. Yeah. Yeah. We kind of feel like inflation
02:45sticky. But, you know, you know, to go back to one percent or two percent, three month
02:49annualized inflation, I would say right now is a shock to get six years. I'm not predicting
02:54that, folks. I'm just the analog here is you get some deflation out. Kind of sort of like
02:58mortgage rates not hitting three percent again. Yeah, I hear you. All right. Crypto related
03:02stocks are higher. I'm talking Coinbase, Robinhood. Oh, strategy as well. I'm throwing that in
03:07there. They're all higher because Bitcoin, by the way, is now above sixty six thousand five
03:11hundred dollars sort of quietly crept up because of this U.S. Iran peace deal sort of triggered
03:16a broad risk on move. Also, Coinbase CEO Brian Armstrong saying that he believes Bitcoin has
03:21probably bottomed at 60K. I mean, I can understand why Brian Armstrong would say that. We've also
03:28got Ethereum up five percent, XRP up seven percent, Solana up four percent. So just in general,
03:34Bitcoin bringing all the other coins up with it today.
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