Shares of Roku closed up more than 17% on Monday, hitting a new 52-week high, after NBCUniversal's Peacock launched on the streaming platform.
It was a rare bright spot on an otherwise down day for the market -- the Dow Jones Industrial Average closed down 1.85%.
Comcast, NBCUniversal's parent company, and Roku had been in talks for months to get the service streaming on Roku but disagreed over control of user data and sharing of advertising inventory. Peacock launched in July but was missing on Roku and another popular platform — Amazon Fire TV.
Comcast ramped up pressure on Friday and threatened to pull NBC's TV Everywhere channels from Roku while negotiations continued. The companies then quickly agreed to a deal.
"Two primary benefits to Roku include top-end premium inventory and subsequent pricing leverage on its CTV premium ad bundles, and leverage with other major media networks/carriage agreements including present discussions with AT&T/WarnerMedia for HBO Max premium and ad-supported subscription carriage/revenue share," Rosenblatt Securities analyst Mark Zgutowicz said in a note Monday. The firm reiterated its buy rating on the stock.
Disclosure: Comcast owns NBCUniversal, which is the parent company of Peacock and CNBC.