Can someone enlighten me on this? If i'm doing data compression(page level) does it rebuild indexes too? and how about stats, does it update stats too?

http://blog.sqlauthority.com/2010/03/01/sql-server-data-and-page-compressions-data-storage-and-io-improvement/

Page compression is implemented by issuing a Alter table command with rebuild of table. Please read the below posts

Data Compression

https://technet.microsoft.com/en-us/library/dd894051%28v=sql.100%29.aspx?f=255&MSPPError=-21472173

Adding page compression doesn't require an ALTER TABLE statement. It can be done with any command that creates or alters an index.

To answer the question... Adding page compression does require a rebuild of the index which in turn does a full statics update. (There is no need to update statistics separately, after an index rebuild. It would be redundant)