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FOXA · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Fox Corporation Class A Common Stock (FOXA) stock moving?
Fox reported fiscal Q1 (quarter ended Sep 30) results on Nov 2 that beat on both lines: adjusted EPS of $2.54 vs. a $2.08 estimate, and sales of $4.571B (up 22%) vs. $4.310B, helped by World Cup and political advertising. Management said it expects to resume share buybacks in the current quarter and will bundle Fox One with distributors and platforms. On Nov 6 Fox completed its acquisition of Roku, targeting about $400M of run-rate cost synergies within two years and free-cash-flow accretion per share by the second full year; Roku founder Anthony Wood joins the board. Analysts followed with positive calls: JP Morgan kept Overweight with an $83 target (Nov 3) and Seaport upgraded to Buy with a $76 target (Nov 9). Price action fits this sequence: the stock closed at $62.76 on Nov 2, rose 6.9% to $67.10 on Nov 3 on heavy volume, and reached a 30-day closing high of $69.65 on Nov 4. It has since traded between about $66.6 and $67.7, closing at $67.37 on Nov 10, roughly 3% below that high. The main open question is the Nov 10 session, which printed 46.9M shares against a typical 6-9M in the prior two weeks with the price nearly flat; no cause appears in the supplied news. Risks include integrating Roku, the post-election drop in political ad spend, and Roku providing no guidance ahead of the deal.
News behind the analysis
- Seaport Global Upgrades Fox to Buy, Announces $76 Price TargetSeaport Global upgraded Fox to Buy with a $76 price target, about 13% above the Nov 10 close of $67.37.
- JP Morgan Maintains Overweight on Fox, Raises Price Target to $83JP Morgan kept its Overweight rating on Fox and raised its price target to $83.
- 'Fox-Roku deal poised to clear Justice Department scrutiny under consent decree' - Semafor ExclusiveSemafor reported the Fox-Roku deal is poised to clear Justice Department scrutiny under a consent decree.
- Roku Q3 Highlights: Double Beat, Advertising Revenue up 23%, No Guidance Ahead of Fox DealRoku beat estimates on both lines for Q3, with advertising revenue up 23%, and gave no guidance ahead of the Fox deal.
- Fox's Advertising Revenue Explodes As World Cup and Election Spending Deliver WindfallFox's fiscal Q1 revenue rose 22% to $4.57B on World Cup and political advertising, beating estimates.
- Fox Corp Says Anticipate Returning To Share Repurchases In Current QuarterFox said it expects to resume share repurchases in the current quarter.
- Fox Corp Says Fox One Will Bundle With Distributors, Platforms And Other Content ProvidersFox said its Fox One streaming service will be bundled with distributors, platforms and other content providers.
- Fox Corp Says Roku Deal Received All Required Shareholder And Foreign Regulatory Approvals And Working With DOJ To Obtain HSR ClearanceFox said the Roku deal had all required shareholder and foreign regulatory approvals, while it was still working with the DOJ on HSR clearance.
- Fox Q1 Adj. EPS $2.54 Beats $2.08 Estimate, Sales $4.571B Beat $4.310B EstimateFox's fiscal Q1 adjusted EPS of $2.54 beat the $2.08 estimate, and sales of $4.571B beat the $4.310B estimate.
About Fox Corporation Class A Common Stock
Fox Corporation is a US media company that owns Fox News, Fox Sports, the FOX broadcast network, local TV stations and the free, ad-supported streaming service Tubi. It is controlled by the Murdoch family and focuses on live news and sports. It recently launched the FOX One streaming service and has announced a deal to buy Roku. FOXA is the Class A share, which carries no voting rights; the voting shares trade as FOX.
How it makes money
Fox earns money in two main ways. First, it charges cable, satellite and streaming TV providers fees to carry its channels, including Fox News and FS1, plus fees from affiliated local stations. Second, it sells advertising on its TV networks, its local stations and Tubi. Roughly speaking, these fees and advertising each bring in a large part of the total. In the fiscal year ended June 2026, revenue was about $17.1 billion, with a boost from the FIFA World Cup broadcast.
What usually moves FOXA
- Political and sports advertising cycles
- Cable cord-cutting and carriage fee renewals
- Sports rights costs such as NFL deals
- Tubi and FOX One streaming growth
- Integration of the announced Roku acquisition