Verizon Moves Higher, Comcast Declines, Delek US Rises

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 Verizon Communications Inc. (VZ) fell early Monday after the company projected a second-quarter loss of between $700 million and $800 million after striking a deal with UK’s BT Group Plc to create a joint venture for their international businesses. Verizon is classifying the businesses it’s contributing to the joint venture as assets and liabilities held for sale, resulting in the estimated loss, the company said in a regulatory filing on Monday.
- Shares of Delek US Holdings (DK) rose by the most in two months after the stock was upgraded to Buy to Hold at TD Cowen.

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