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Asia Markets

Update: US Equity Futures Fall Pre-Bell Amid Broad Tech Sell-Off, US-Iran Peace Negotiations

(Updates with economic data, recent oil price movement, world markets' overview, and corporate stock movements.)US equity futures were lower pre-bell Tuesday amid a sell-off in tech stocks and ongoing peace negotiations between the U.S. and Iran.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 1.3%, and Nasdaq futures were 2.8% lower.Micron Technology (MU) stock was down 8.3% in premarket activity, joining a broader sell-off in the technology sector.Technical discussions between the US and Iran in Switzerland have been completed, with negotiating groups to be established to focus on nuclear issues and sanctions, AFP reported, citing Iranian state media.Iran's chief negotiator, Mohammad Bagher Ghalibaf, told state media that the country intends to retain control of the Strait of Hormuz after talks with the US. At least 35 vessels crossed the waterway on Monday, marking the highest level since the war in the Middle East began, AFP reported, citing data from maritime tracking firm Kpler.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.8% at $76.91 per barrel and US West Texas Intermediate crude 0.7% lower at $73.31 per barrel.The June S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 52.1, up from 51.5 previously, according to estimates compiled by Bloomberg. The Richmond Fed manufacturing index for June is scheduled to be released at 10 am ET.In other world markets, Japan's Nikkei closed 3.6% lower, Hong Kong's Hang Seng ended 1.8% lower, and China's Shanghai Composite finished 1.4% lower. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, shares of Marvell Technology (MRVL), Western Digital (WDC), and Seagate Technology (STX) were all down as part of a wider decline in technology stocks. Marvell shares dropped 8.8%, Western Digital stock was down 7.6%, and Seagate shares fell 7.7%.On the winning side, Netflix (NFLX) stock was up 0.9% after the company and Omnicom (OMC) said they agreed on a collaboration that combines Omnicom Media's Acxiom audience intelligence with Netflix's artificial intelligence-powered advertising technology. IBM (IBM) shares rose 4.2% after the company said it joined the OpenAI Daybreak Cyber Partner Program and launched a new application-security service that uses OpenAI's models to help enterprises identify and validate software vulnerabilities. Accenture (ACN) stock was up 2% after the company said it is raising its fiscal 2026 share repurchase plan by $2 billion to a total of $7.5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$IBM$MRVL$MU$NFLX$OMC$STX$WDC
Japan

Update: Sliding Communication Services, Surging Treasury Yields Push US Equity Indexes in Mixed Territory

(Updates with index/price moves and political/company news from the first paragraph.)US equity indexes traded mixed on Monday as steep declines in communication services and consumer discretionary stocks weighed, and government bond yields surged despite declining crude oil prices.The Nasdaq Composite dropped 1.3% to 26,166.60, with the S&P 500 down 0.4% to 7,472.79, while the Dow Jones Industrial Average rose 0.3% to 51,712.71 at the close. Communication services sank 3.8%, and consumer discretionary dropped 2.3%.Alphabet's (GOOG, GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Shares of Alphabet slumped 5.1%, one of the steepest decliners on the S&P 500 and the Nasdaq.Netflix (NFLX) is looking to pursue additional partnerships with traditional broadcasters following the launch of its agreement with French broadcaster TF1, Chief Executive Officer Greg Peters told the Financial Times on Friday. Shares of Netflix dropped 5.8%, among the worst performers on the Nasdaq and the S&P 500.SpaceX (SPCX) commenced its first offering of senior unsecured notes, the proceeds of which will be used to repay outstanding borrowings under its bridge loan facility and to pay related fees and expenses, the company said in a regulatory filing on Monday. Shares sank more than 16%.In geopolitical news, the US issued a 60-day license allowing Iran to sell oil on the international market, giving Tehran an economic lifeline as the two adversaries continued talks for a permanent peace deal, Bloomberg reported.Vice President J.D. Vance described the first round of negotiations as "very very good" and said Iran agreed to allow nuclear inspectors back into the country, the report said. But Iranian officials, who also cited progress, reportedly challenged the claim about access.Vance noted progress on multiple fronts, according to the Associated Press. It included the establishment of "mechanisms" to ensure the Strait of Hormuz stays open and to address fighting between Israel and Iranian-backed Hezbollah militants in southern Lebanon, the news report added.Front-month global benchmark North Sea Brent slumped 2.9% to $78.20 per barrel, and West Texas Intermediate dropped 2.2% to $74.20 per barrel."Our current market targets expect a gradual return to pre-war commercial traffic through the Strait," the Wells Fargo Investment Institute said in a research note. "Energy prices may reverse higher in the coming weeks and make consumer price inflation sticky in the balance of 2026."Most US Treasury yields jumped, with the 10-year up 5.8 basis points to 4.51%. The two-year rate advanced 5.1 basis points to 4.23%.Day-to-day developments aside, even with a near-term reopening of the Strait, it will take time for energy markets to stabilize, according to a Stifel note."Remember, production has been stalled or shut in for months at facilities in the region, which will be slow to return to full capacity," Stifel Chief Economist Lindsey Piegza and Senior Economist Lauren Henderson said in the note. "Additionally, the flow of supply will also take time to restore with more than 1,000 ships reportedly 'stuck' amid the more than three-month closure of the vital waterway."In precious metals, gold futures fell 0.9% to $4,209.8, while silver futures dropped 1.5% to $65.31.

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$GOOGL$NFLX$SPCX
Japan

Update: US Equity Indexes Mixed as Communication Services Sector Slides, Treasury Yields Surge

(Updates with index/price moves and political news from the first paragraph.)US equity indexes traded mixed ahead of Monday's close amid steep declines in communication services and rising government bond yields.The Nasdaq Composite dropped 1.4% to 26,160.44, with the S&P 500 down 0.5% to 7,465.9, while the Dow Jones Industrial Average rose 0.2% to 51,654.7. Communication services sank 4%, and consumer discretionary dropped 2%.Alphabet's (GOOG, GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Shares of Alphabet slumped 5.5%, one of the steepest decliners on the S&P 500 and the Nasdaq.Netflix (NFLX) is looking to pursue additional partnerships with traditional broadcasters following the launch of its agreement with French broadcaster TF1, Chief Executive Officer Greg Peters told the Financial Times on Friday. Shares of Netflix dropped 5.8%, among the worst performers on the Nasdaq and the S&P 500.In geopolitical news, the US issued a 60-day license allowing Iran to sell oil on the international market, giving Tehran an economic lifeline as the two adversaries continued talks for a permanent peace deal, Bloomberg reported Monday.Vice President Vance and US officials claimed progress on multiple fronts, according to the Associated Press. It included the establishment of "mechanisms" to ensure the Strait of Hormuz stays open and to address fighting between Israel and Iranian-backed Hezbollah militants in southern Lebanon, the news report added.Front-month global benchmark North Sea Brent slumped 3.1% to $78.04 per barrel. The US West Texas Intermediate dropped 2.4% to $74.04 per barrel.Most US Treasury yields jumped, with the 10-year up 5.8 basis points to 4.51%. The two-year rate advanced 5.7 basis points to 4.23%.

Dow JonesNasdaq CompositeS&P 500$ABBV$ACA$AMZN$APGE$CRH$CVX$GOOG$GOOGL$MSFT$NFLX
Wire

Omnicom Media, Netflix to Collaborate on AI-Powered Ad Creatives

Omnicom (OMC) and Netflix (NFLX) agreed to a collaboration that combines Omnicom Media's Acxiom audience intelligence with Netflix's artificial intelligence-powered advertising technology, the companies said on Monday.The collaboration enables allows clients to use Netflix's AI-enabled ad format with Acxiom insights to create and measure campaigns according to viewers' habits, according to a statement.Financial details related to the agreement were not disclosed.Price: $72.22, Change: $+0.87, Percent Change: +1.22%

$NFLX$OMC
Asia Markets

Update: US Equity Indexes Mixed Amid Steep Decline in Communication Services, Surging Treasury Yields

(Updates with index/price moves and political/company news from the first paragraph.)US equity indexes traded mixed amid steep declines in communication services and consumer discretionary and rising government bond yields after midday Monday.The Nasdaq Composite dropped 1.2% to 26,194.83, with the S&P 500 down 0.4% to 7,472, while the Dow Jones Industrial Average rose 0.3% to 51,696.7.All sectors, except communication services, consumer discretionary, consumer staples and technology, gained. Real estate and healthcare led the gainers. Communication services sank 4.4%, and consumer discretionary was down 2%.Alphabet (GOOG, GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Shares of Alphabet slumped nearly 6%, one of the steepest decliners on the S&P 500 and the Nasdaq.Netflix (NFLX) is looking to pursue additional partnerships with traditional broadcasters following the launch of its agreement with French broadcaster TF1, Chief Executive Officer Greg Peters told the Financial Times on Friday. Shares of Netflix dropped 6%, among the worst performers on the Nasdaq and the S&P 500.In geopolitical news, US Vice President JD Vance said Monday that Iran agreed to allow International Atomic Energy Agency inspectors into the country, according to media reports. "That is a major milestone for the American people, and the first step in permanently denuclearizing or permanently ending a nuclear weapons program in Iran, and that's exactly what we wanted to do," Vance was cited as saying.Iran's Foreign Minister Araghchi and the country's top negotiator Mohammad Bagher Ghalibaf are traveling to Oman to discuss the management of the Strait of Hormuz, Al Jazeera reported on Monday. The two are set to discuss consolidating Iranian arrangements for managing the strait and enhancing bilateral coordination, Ghalibaf said on Telegram, according to the news report.Front-month global benchmark North Sea Brent slumped 3.4% to $77.87 per barrel. The US West Texas Intermediate dropped 3% to $73.66 per barrel.Most US Treasury yields jumped, with the 10-year up six basis points to 4.52%. The two-year rate jumped 4.9 basis points to 4.23%. Even as oil prices have been declining since an interim peace deal was signed between the US and Iran, the market is still pricing two interest rate increases -- 25 basis points each -- by the end of this year, according to the CME FedWatch tool, following the hawkish lean seen in the June monetary policy announcement last week.In precious metals, gold futures fell 0.9% to $4,209.1, while silver futures declined 1% to $65.68.In company news, Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by technology giant Microsoft (MSFT), as part of a 20-year power purchase deal. Shares of Microsoft dropped 2.5%, among the steepest decliners on the Dow.AbbVie (ABBV) agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal of about $10.9 billion, as the drugmaker looks to strengthen its immunology portfolio and accelerate its clinical presence in the respiratory segment. Shares of AbbVie advanced nearly 7%, one of the top gainers on the S&P 500.CRH (CRH) said it agreed to acquire building materials rival Arcosa (ACA) in an all-cash transaction valued at about $8.5 billion, expanding its infrastructure products business and strengthening its position in North America.

Dow JonesNasdaq CompositeS&P 500$ABBV$ACA$AMZN$APGE$CRH$CVX$GOOG$GOOGL$MSFT$NFLX
Wire

Netflix, Proximity Media to Exclusively Develop New Series

Netflix (NFLX) and Proximity Media will exclusively develop a new series for the streaming service, Netflix said Thursday in a post on X.Proximity Media is a production company founded by Ryan Coogler, Zinzi Coogler, and Sev Ohanian, the team behind the 2025 box-office hit Sinners, starring Michael B. Jordan, according to its website.Price: $77.62, Change: $+0.66, Percent Change: +0.86%

$NFLX
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.1%.Redbook US same-store sales soared 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.In corporate news, Yum Brands (YUM) shares rose 1.5% after it said it has agreed to sell Pizza Hut in two deals valued at about $2.7 billion. Private equity firm LongRange Capital will acquire Pizza Hut outside China for about $1.5 billion, while Yum China (YUMC) will purchase the Chinese business for $1.2 billion, Yum Brands said Tuesday. Yum China shares were down 0.9%.Senators Edward Markey (D-Mass.) and Richard Blumenthal (D-Conn.) on Monday asked the US National Highway Traffic Safety Administration to examine Tesla's (TSLA) self-published crash statistics for its "Full Self-Driving" system, Reuters reported Tuesday. In their letter to the NHTSA, the senators cited an earlier Reuters investigation that found that Tesla was exaggerating its safety claims, the report said. Tesla shares were down 1.1%.Netflix (NFLX) is one of several media companies interested in acquiring Lionsgate Studios (LION), Semafor reported. Netflix shares fell 3.7%, and Lionsgate jumped 14%.Rivian Automotive (RIVN) laid off hundreds of employees, or under 2% of its workforce, Tuesday, the Wall Street Journal reported, citing a company spokesperson. The layoffs affected workers in the electric-vehicle maker's service and customer organization, the report said. Rivian shares fell 4.5%.

$NFLX$RIVN$TSLA$YUM$YUMC
Wire

Top Midday Gainers

Space Exploration Technologies (SPCX) has agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal valued at about $60 billion.Shares jumped 10% intraday, boosting its market value above that of Amazon (AMZN). More than 240 million shares traded intraday, compared with a daily average of about 384.9 million.CervoMed (CRVO) shares soared 115% after the company reported to the Securities and Exchange Commission an insider stock purchase worth $3 million late Monday.Over 174.2 million shares traded intraday versus a daily average of roughly 118,000.Netflix (NFLX) is one of several media companies interested in acquiring Lionsgate Studios (LION), Semafor reported Tuesday, citing a person familiar with the matter.Shares of Lionsgate rose 10% as intraday trading volume grew to over 10.4 million from a daily average of about 3.3 million.Price: $211.93, Change: $+19.43, Percent Change: +10.09%

$CRVO$LION$NFLX$SPCX
Wire

Top Midday Stories: SpaceX Surpasses Amazon in Market Cap; Yum! Brands to Sell Pizza Hut for $2.7 Billion

The Dow Jones Industrial Average was up, while the S&P 500 Index and Nasdaq Composite were down in late-morning trading Tuesday, as oil prices continued to fall following the announcement of a peace deal between the US and Iran.In company news, SpaceX (SPCX) shares continued to climb on Tuesday after debuting last Friday, boosting the company's market cap above Amazon's (AMZN) and, briefly, Microsoft's (MSFT). Separately, SpaceX said Tuesday in a regulatory filing that it has signed an agreement to acquire Cursor in a deal with an implied equity value of $60 billion. SpaceX expects the deal to become effective in Q3, subject to the satisfaction of closing conditions and regulatory approvals. SpaceX shares were up 11.1%, while Amazon was up 1.0% and Microsoft was down 1.6%.Yum! Brands (YUM) said Tuesday it has signed agreements to sell Pizza Hut for a combined $2.7 billion through two separate transactions. Private equity firm LongRange Capital will acquire the Pizza Hut business not located in Mainland China for $1.5 billion. Yum China will acquire the Mainland China business for $1.2 billion. Yum! shares were up 2.4%, while Yum China shares were down 0.8%.Olin (OLN) and Huntsman (HUN) agreed to an all-stock merger of equals that will form OlinHuntsman, a chemicals company with combined 2025 revenue of about $12.5 billion, the companies said. under the deal terms, Huntsman shareholders will receive 0.5476 Olin shares for each Huntsman share, with Olin shareholders expected to own 54.5% of the combined company. Olin shares were down 8.5%, while Huntsman shares were down 19.3%.Netflix (NFLX) is one of several media companies interested in acquiring Lionsgate Studios (LION), Semafor reported Tuesday, citing a person familiar with the matter. Neither Netflix nor the other companies have put in a formal indication of interest, the report said, citing the person. Netflix shares were down 2.8%.Price: $213.76, Change: $+21.26, Percent Change: +11.04%

$AMZN$MSFT$NFLX$SPCX$YUM$YUMC
Wire

Update: Market Chatter: Netflix Interested in Buying Lionsgate Studios

(Updates with Lionsgate Studios' response to a request for comment in the last paragraph.)Netflix (NFLX) is one of several media companies interested in acquiring Lionsgate Studios (LION), Semafor reported Tuesday, citing a person familiar with the matter.Neither Netflix nor the other companies have put in a formal indication of interest, the report said, citing the person.Lionsgate declined to comment to, while Netflix didn't immediately reply to a request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $78.97, Change: $-2.70, Percent Change: -3.31%

$LION$NFLX
Wire

Market Chatter: Netflix Interested in Buying Lionsgate Studios

Netflix (NFLX) is one of several media companies interested in acquiring Lionsgate Studios (LION), Semafor reported Tuesday, citing a person familiar with the matter.Neither Netflix nor the other companies have put in a formal indication of interest, the report said, citing the person.Netflix and Lionsgate Studios didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $80.25, Change: $-1.43, Percent Change: -1.74%

$LION$NFLX
Wire

Netflix Interested in Buying Lionsgate Studios, Semafor Reports

Netflix Interested in Buying Lionsgate Studios, Semafor Reports

$NFLX
Wire

Netflix, IHeartMedia Expand Video Podcast Partnership

Netflix (NFLX) and iHeartMedia (IHRT) said Monday that the next phase of their exclusive video podcast partnership includes a new collection of iHeartPodcasts launching as video shows on Netflix.The shows joining the existing lineup on Netflix include the new "Suite 305 with Lele Pons," "The Martha Stewart Podcast," and "Sibling Revelry with Kate Hudson and Oliver Hudson," according to a statement.The latest podcasts will roll out on Netflix in the coming months, with iHeartMedia retaining all audio-only rights and distribution for the shows included in the deal, the companies said.Price: $81.38, Change: $+1.04, Percent Change: +1.29%

$IHRT$NFLX
Wire

Top Midday Stories: SpaceX Shares Indicated to Open 29% Above IPO Price at $174 Each; Adobe CFO Leaves Company

All three major US stock indexes were up in late-morning trading Friday, as investors prepare for SpaceX's initial public offering and wait for news on a signed deal between the US and Iran.In company news, SpaceX shares are indicated to open at $174 apiece, about 29% above the IPO price of $135 per share, Bloomberg reported Friday.Adobe (ADBE) reported fiscal Q2 adjusted earnings late Thursday of $5.96 per diluted share, up from $5.06 a year earlier and above the FactSet consensus analyst estimate of $5.82. Fiscal Q2 revenue was $6.62 billion, up from $5.87 billion a year ago and above the FactSet consensus of $6.45 billion. For fiscal Q3, the company expects adjusted EPS of $6.05 to $6.10 on revenue of $6.67 billion to $6.72 billion. Analysts polled by FactSet expect $5.77 and $6.52 billion, respectively. For the full year, Adobe expects adjusted EPS of $24.35 to $24.45 on revenue of $26.5 billion to $26.6 billion. Analysts expect $23.54 and $26.06 billion, respectively. The company also announced that Chief Financial Officer Dan Durn will leave the company on Monday, and Steve Day, senior vice president of corporate finance, will serve as interim CFO. Adobe shares were down 7.4% around midday.BlackRock (BLK) HPS Corporate Lending Fund received repurchase requests totaling about 13.3% of shares outstanding as of March 31 but will fulfill requests for just 5% of shares, the fund said Friday in a regulatory filing. The fund previously limited redemptions to 5% after receiving requests to repurchase about 9.3% of share outstanding, according to a March regulatory filing. BlackRock shares were up 2%.SharonAI (SHAZ) said Friday it has entered a six-year strategic compute collaboration with Nvidia (NVDA) to expand AI infrastructure in Australia, including the deployment of up to 40,000 Grace Blackwell GB300 GPUs. SharonAI shares were down 7.8%, while Nvidia shares were up 0.4%.Turkey's Competition Board said Friday it has concluded an investigation into Netflix (NFLX), Amazon (AMZN) Prime, Walt Disney (DIS) and other streaming platforms through a waiver of liability. Netflix agreed to measures that seek to address issues raised by the board regarding its selection of Turkish content, while all of the companies committed to certain steps to address the raised issue of exclusivity clauses in contracts. Netflix and Amazon shares were down 1.1% and 2%, respectively, while Disney shares were up 0.3%.Price: $203.46, Change: $-15.34, Percent Change: -7.01%

$ADBE$AMZN$BLK$DIS$NFLX$NVDA$SHAZ
Wire

Turkey Concludes Antitrust Probe Into Netflix, Amazon Prime, Disney

Turkey's Competition Board said Friday it has concluded an investigation into Netflix (NFLX), Amazon (AMZN) Prime and Disney (DIS) through a waiver of liability.Specifically, the board probed whether Netflix discriminates against independent producers when selecting original Turkish content to be broadcast on its platform. The regulator also examined exclusivity clauses in contracts that Netflix, BluTV, Disney, Amazon Prime, Exxen and Gain enter into with producers, distributors, actors and writers in order to carry out their activities.Netflix agreed to measures that seek to address the Turkish content selection issue, while all the companies committed to certain steps to address the exclusivity issue as part of the agreement, the regulator said.The companies didn't immediately reply to requests for comment from.Price: $80.31, Change: $-0.96, Percent Change: -1.19%

$AMZN$DIS$NFLX
Sectors

Sector Update: Tech Stocks Lower Late Afternoon

Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 6.2% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 10.5%.The Philadelphia Semiconductor Index declined 8.9%.In corporate news, Meta Platforms (META) is mulling raising tens of billions of dollars through a share sale to fund surging artificial intelligence capital expenditure, which could reach $145 billion this year and climb further in 2027, the Financial Times reported Friday, citing three people familiar with the matter. Meta shares fell 5.8%.Nvidia (NVDA) CEO Jensen Huang said Friday that robotics will be South Korea's next major growth sector, citing the country's strengths in manufacturing, mechatronics, and artificial intelligence, Reuters reported. Nvidia shares declined 5.5%.Netflix (NFLX) is developing guidelines for the safe use of generative artificial intelligence in content production, with the technology intended to support creators rather than replace them, Nikkei Asia reported Friday, citing comments from co-Chief Executive Greg Peters. Netflix stock was up 0.5%.DocuSign (DOCU) shares were down 6.6% in Friday afternoon trading, a day after the company posted its fiscal Q1 results.

$DOCU$META$NFLX$NVDA
Insider Trading

Netflix Insider Sold Shares Worth $33,244,035, According to a Recent SEC Filing

Reed Hastings, Director, on June 01, 2026, sold 386,700 shares in Netflix (NFLX) for $33,244,035. Following the Form 4 filing with the SEC, Hastings has control over a total of 21,163,516 common shares of the company, with 3,940 shares held directly and 21,159,576 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1065280/000106528026000188/xslF345X05/wk-form4_1780431227.xml

$NFLX
IMAX Potential Suitors Include Netflix, Apple, Wedbush Says
US Markets

IMAX Potential Suitors Include Netflix, Apple, Wedbush Says

A potential sale of IMAX (IMAX) could attract a number of likely suitors including private equity firms, Netflix (NFLX) and Apple (AAPL), Wedbush Securities said in a Friday note.The premium theater company is exploring a sale, The Wall Street Journal reported Thursday, citing people familiar with the matter. The sale process, however, is still in the early stages, according to the report.IMAX has held "preliminary talks" through intermediaries, although the company hasn't made any official pitches, CNBC reported Thursday, citing a source.Wedbush said IMAX is an attractive asset, pointing to its strong brand and an expanding earnings profile."At roughly $2 billion in enterprise value, a prospective acquirer would be buying one of the most defensible moats in entertainment for what amounts to a rounding error on the balance sheet of any major studio or technology platform," Wedbush analysts including Alicia Reese wrote.PE ownership would avoid a potential platform conflict as there would be no competing interest, Reese said.The conflict-of-interest problem is "meaningfully smaller" in case Netflix acquires IMAX."Netflix's content calendar remains thin enough that purchasing IMAX would not foreclose rival studio access to the format; the conflict-of-interest problem that would constrain regular studio buyers is meaningfully smaller for Netflix," Reese said. "Owning IMAX would also give every major filmmaker Netflix signs a guaranteed premium theatrical showcase as part of the deal, a powerful recruiting tool in a competitive talent marketplace."On the other hand, Apple TV+ is investing "aggressively" in prestige content and has relationships with filmmakers, who could pitch a guaranteed IMAX showcase during their signing conversations, according to the research note.IMAX's current enterprise value is "a rounding error relative to Apple's balance sheet," Wedbush said.Meanwhile, Sony (SONY) has the best strategic narrative of any studio acquirer."It has no streaming platform, making theatrical its primary monetization window in a way that is structurally different from other major studios," Reese said.IMAX's shares were advancing by 15% ahead of market close on Friday.Price: $39.13, Change: $+5.25, Percent Change: +15.50%

$AAPL$IMAX$NFLX$SONY
Wire

Imax's Potential Acquirers Include Private Equity Firms, Netflix, Apple, Sony, Wedbush Says

Imax (IMAX) is an "attractive" asset, and its most likely acquirers include private equity firms, Netflix (NFLX), Apple (AAPL), and Sony (SONY), Wedbush said in a Friday note.Imax is exploring a sale and has approached entertainment companies as potential buyers, the Wall Street Journal reported Thursday.At around $2 billion in enterprise value, Imax is trading below its standalone value and at a deeper discount as a potential acquisition target, the analysts said. They cited the company's well-known global brand, asset-light licensing model, and structurally expanding earnings profile.Private equity would be interested in Imax's free cash flow generation, minimal capital expenditure requirements relative to revenue, and a clear path to operational optimization. Ownership of Imax would also avoid any platform-conflict issue, the analysts said.Netflix ownership would not hamper rival studio access to the format as its content calendar is thin enough that purchasing Imax would not foreclose rival studio access to the format, according to the note.Netflix and Apple would also benefit from Imax becoming a powerful tool to woo major filmmakers, according to the note.Wedbush's rating on the company's stock is outperform with a price target of $46.Price: $38.77, Change: $+4.89, Percent Change: +14.43%

$AAPL$IMAX$NFLX$SONY
IMAX on Track to Reach $1.4 Billion in Box Office Proceeds Despite Headwinds, B. Riley Says
US Markets

IMAX on Track to Reach $1.4 Billion in Box Office Proceeds Despite Headwinds, B. Riley Says

IMAX (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note emailed Monday.IMAX's shares lost 9% year to date through Friday, and have lost 22% from a late-February high, B. Riley Managing Director Drew Crum wrote.The release schedule of local-language films "Peng Hu" and "Once Upon a Time in the Middle East" shifted from Chinese New Year to the summer, according to the research note. The delay is expected to reduce the two movies' contribution to $20 million from $30 million previously projected, Crum said.Meanwhile, Netflix's (NFLX) "Narnia: The Magician's Nephew" got pushed to February next year, and will now no longer be an IMAX exclusive, according to B. Riley. Additional setbacks include CEO Richard Gelfond's medical leave that ended in May.Late last month, IMAX affirmed its 2026 guidance, including $1.4 billion in global box office proceeds."While the margin for error has narrowed, we still see a path to a ($1.4 billion) global box office, a key piece to the company's 2026 guidance," Crum said. "We believe progress towards achieving this financial goal should be evident in the current quarter and (second half), thereby helping to improve investor sentiment and supporting higher share prices going forward."The brokerage pointed to outperformance of second-quarter films "Project Hail Mary" and "Michael" and a potential upside for local-language content among factors driving optimism for 2026.B. Riley estimates annual revenue growth at 8% and 9% in 2026 and 2027, to $444.5 million and $485 million, respectively. Analysts in a FactSet poll expect $442.6 million this year and $472.7 million in 2027.The brokerage maintained its buy rating on IMAX's stock, with a $46 price target.Price: $34.47, Change: $+0.88, Percent Change: +2.60%

$IMAX$NFLX

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