Sign up USA
Proactive Investors - Run By Investors For Investors

Roku shares fall after Amazon and Best Buy smart TV partnership

Best Buy and Amazon are coming together to offer smart TVs with Fire TV built-in
Wall of TV display
The smart TVs will be available by this summer

Shares of Roku Inc (NASDAQ:ROKU) fell sharply in afternoon trading after Best Buy Co Inc (NYSE:BBY) and Amazon.com Inc (NASDAQ:AMZN) announced a deal on smart TVs.

The companies are partnering to offer new smart TVs with built-in Fire TV, Amazon’s streaming service offering videos, music, games, and Internet access.

READ: Amazon, Best Buy team up to sell smart TVs

“These Fire Edition smart TVs by Insignia and Toshiba deliver beautiful visuals and all the movies and TV shows you love, with an experience that gets better every day with Alexa. We could not have a better partner in this endeavor,” Amazon CEO Jeff Bezos said in a statement announcing the deal.

The partnership means that Best Buy’s brand Insignia will no longer use Roku’s operating system, according to a report by The Wall Street Journal.

Shares of Roku were down 6.5% in afternoon trading, while shares of Best Buy jumped 3.6% and Amazon gained almost 2%.

The smart TVs are expected to be available by the summer.

View full ROKU profile View Profile

Roku Inc Timeline

Related Articles

1510592057_gas-pipeline.jpg
November 13 2017
In the quarter, the power and electromechanical segment contributed revenues of $16.7 million,
1515684629_Universal-mCloud-pic-1.jpg
January 11 2018
Universal mCloud's technology set services some of the biggest companies in the world
Flow chart of the Hazer Process
March 21 2018
The Hazer Process could disrupt the $100 billion hydrogen production market.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use