Roku, Inc. Class A Stock News

Bank of America has upgraded Fox Corp (NASDAQ:FOXA) to 'buy' from 'underperform' and raised its price target to $85 from $54. The bank expects Fox's pending acquisition of Roku Inc (NASDAQ:ROKU) the streaming platform operator, to improve its growth prospects and generate about $700 million in additional annual earnings by 2028.

Fox's acquisition gives the media titan a way to deliver its programming directly to views, a huge plus for its Sunday NFL games.

With media M&A in the air, shareholders of both companies have approved Fox's planned cash and stock acquisition of Roku at special meetings today. The approvals were expected.

Roku Inc (NASDAQ:ROKU) remains on track to complete its proposed combination with Fox Corporation in the first half of 2027, according to Wedbush, which reiterated its $155 price target and ‘neutral' rating after meeting with management. The broker said it expects the transaction to overcome potential regulatory hurdles and close within the companies' stated first-half 2027 timeframe.

Roku is turning your TV into its own testing grounds. On Thursday, the connected TV device maker unveiled the latest update to Roku OS, which introduces a new experience called Roku Labs that allows U.S. customers to access experimental apps made by the company.

Fox Corp. President and Chief Operating Officer John Nallen said the company's $22 billion acquisition of Roku is on track to close despite a new request for information from regulators. Speaking at the Goldman Sachs Communacopia conference in San Francisco on Wednesday, Nallen mentioned Fox's regulatory filing earlier in the day noting the U.S.

Fox's $22 billion plan to buy Roku has hit a new hurdle. The Justice Department sent Fox and Roku what's known as a “second request” on Tuesday, asking the companies to turn over more data and documents as it takes a closer look at the deal.

Fox and Roku said they would work cooperatively with the Justice Department, providing the requested additional information and documentary material.