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Wire

T-Mobile Arena, Paramount+ Enter New Multi-Year Partnership

MGM Resorts International's (MGM) joint venture Las Vegas venue, T-Mobile Arena, and Paramount Skydance's (PSKY) Paramount+ have signed a multi-year partnership that will rename the arena's two-acre outdoor entertainment space as Paramount+ Plaza, the companies said on Tuesday.The collaboration also names Paramount+ as official partner and T-Mobile Arena's exclusive streaming partner, according to a statement.Paramount+ Plaza will make its debut on Sept. 12, during Zuffa Boxing's Garcia versus Benn fight week at the T-Mobile Arena, the companies further said.Financial details related to the partnership were not disclosed.Price: $40.90, Change: $-0.32, Percent Change: -0.78%

$MGM$PSKY
Treasury

Paramount Skydance Extends Deadlines for Warner Bros. Discovery Tender and Exchange Offers

Paramount Skydance (PSKY) extended the expiration dates for its tender offers and exchange offers involving notes issued by Warner Bros. Discovery's (WBD) Discovery Global Holdings and Discovery Communications units.The offers expire at 5 p.m. New York time on Sept. 18, unless further extended, Paramount said Tuesday in a statement.Settlement will occur after the expiration date and is currently expected in Q3. As of 5 p.m. Friday, 66% of the tender-offer notes and 75% of the exchange-offer notes had been validly tendered, Paramount said.Price: $10.94, Change: $+0.08, Percent Change: +0.74%

$PSKY$WBD
Wire

Paramount Skydance Extends Debt Tender, Exchange Offer Deadlines

Paramount Skydance (PSKY) said Monday it extended the expiration deadlines for its cash tender offers and debt exchange proposals targeting outstanding notes issued by Warner Bros. Discovery (WBD) units.The entertainment firm postponed the cutoff to Sept. 11 and anticipates further extensions to align the transaction settlement with the completion of its proposed acquisition of Warner Bros. Discovery, the company said.Bondholders tendered roughly 66% of the cash-targeted securities and 75% of the exchange-eligible debt as of Aug. 28, though the company said it does not view those figures as representative of the final results of the offers.Price: $10.95, Change: $+0.07, Percent Change: +0.64%

$PSKY$WBD
Wire

Market Chatter: Warner Bros. Assets Eyed by Bankers as Paramount Legal Fight Continues

Investment bankers and potential buyers are exploring assets that could come up for sale as Paramount Skydance's (PSKY) legal fight to acquire Warner Bros. Discovery (WBD) continues, Bloomberg reported, citing people familiar with the discussions.Bankers have approached potential buyers about acquiring New Line Cinema, while Warner Bros. cable networks are also drawing interest, according to the late Monday report.Warner Bros. and Paramount Skydance did not immediately respond to' 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: $28.92, Change: $+0.22, Percent Change: +0.75%

$PSKY$WBD
Sectors

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.2%.In corporate news, Paramount Skydance (PSKY) had its Monday meeting with California officials canceled after State Attorney General Rob Bonta accused the entertainment company of leaking details and negotiating in bad faith over its proposed multi-billion merger with Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were up 0.9%, and Warner Bros. added 0.7%.Walmart (WMT) is launching a new women's clothing, bag and accessories store brand this week aimed at younger shoppers, The Wall Street Journal reported Sunday. Most of the items under the new Scenario line will cost less under $25, the report said. Walmart shares gained 2.7%.Polestar Automotive (PSNY) said it still does not understand why it must stop US sales while its corporate cousin, Volvo Cars, was allowed to continue, The Wall Street Journal reported, citing an Aug. 18 letter from Polestar to its US dealers. The Trump administration is implementing a new rule to prevent China from spying through connected-vehicle technology, with Polestar becoming the first carmaker effectively blocked from selling vehicles in the US under the rule, the report said. Polestar shares fell 4.7%.PDD (PDD) reported Q2 earnings ahead of Wall Street estimates on Monday even as operating expenses rose annually, though revenue fell short of expectations. PDD shares were down 1.1%.

$PDD$PSKY$PSNY$WBD$WMT
Sectors

Sector Update: Consumer Stocks Rise Monday Afternoon

Consumer stocks were higher Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.In sector news, the US will raise tariffs on all cars, trucks, automotive parts and steel from Canada to 50%, effective Jan. 1, 2027, President Donald Trump said Monday on Truth Social.In corporate news, Paramount Skydance (PSKY) had its Monday meeting with California officials canceled after State Attorney General Rob Bonta accused the entertainment company of leaking details and negotiating in bad faith over its proposed multi-billion merger with Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were up 0.2%, and Warner Bros. added 0.6%.Walmart (WMT) is launching a new women's clothing, bag and accessories store brand this week aimed at younger shoppers, The Wall Street Journal reported Sunday. Most of the items under the new Scenario line will cost less under $25, the report said. Walmart shares rose 1.4%.PDD (PDD) reported Q2 earnings ahead of Wall Street estimates on Monday even as operating expenses rose annually, though revenue fell short of expectations. PDD shares were down 1.1%.Expedia (EXPE) shares were rising 3.7%. Wedbush Securities said in a note Thursday the company delivered its fifth consecutive beat and raise in Q2, with full-year guidance raised on all three lines, as the business-to-consumer segment continues to see solid top-line improvement and stronger margin expansion.

$EXPE$PDD$PSKY$WBD$WMT
Sectors

Sector Update: Consumer

Consumer stocks were higher Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.In corporate news, Paramount Skydance (PSKY) had its Monday meeting with California officials canceled after State Attorney General Rob Bonta accused the entertainment company of leaking details and negotiating in bad faith over its proposed multi-billion merger with Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were up 0.1%, and Warner Bros. added 0.7%.

$PSKY$WBD
Wire

Top Midday Stories: Treasury Reportedly Could Use General Account to Fund Buybacks; Trump Raises Tariffs on Canadian Cars and Steel to 50% on Jan. 1

Stocks were mixed in late-morning trading Monday, with the Dow Jones Industrial Average up and the S&P 500 Index and Nasdaq Composite down, as Treasury yields fell after CNBC reported that the US Treasury Department may tap its General Account to help fund its buyback operation.The US will raise tariffs on all cars, trucks, automotive parts and steel from Canada to 50%, effective Jan. 1, 2027, President Donald Trump said Monday on Truth Social.In company news, Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg reported Saturday, citing people familiar with the matter. The price hikes will impact systems shipped early next year, including those with Vera Rubin and Grace Blackwell chips, the report said, citing the people. Separately, Nvidia is discussing an investment in AI startup Perplexity as part of a funding round that would value the company at more than $30 billion, The Information reported Sunday, citing people familiar with the talks. The round could be worth billions of dollars and would increase Perplexity's valuation by more than 50% from its last financing, the report said. Nvidia shares were down 2.2% around midday.Alibaba (BABA) has officially rolled out its Wan3.0 AI video generation tool, Reuters reported Monday, citing a post on China's WeChat platform. The new model is able to produce 30-second videos from documents, spreadsheets, slides and web pages, the report said. Separately, Alibaba Chief Executive Eddie Wu bought 350,000 shares of the company for about $5 million, according to a regulatory filing with the US Securities and Exchange Commission. Alibaba shares were up 0.7%.PDD (PDD) reported Q2 non-GAAP earnings Monday of 19.33 Chinese renminbi ($2.88) per diluted American depositary share, down from 22.07 renminbi a year earlier but above the FactSet consensus analyst estimate of 18.45 renminbi. Second-quarter revenue was 112.36 billion renminbi, up from 103.99 billion renminbi a year ago but below the FactSet consensus of 115.09 billion renminbi. PDD shares were down 1.9%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. Shell shares were down 0.5%, while Exxon, LyondellBasell and Apollo shares were down 1.6%, down 2.2% and up 0.2%, respectively.H.B. Fuller's (FUL) board has rejected Ancora's bid to acquire its building adhesives unit for up to $1.2 billion, the company said Monday. The board concluded Ancora's bid undervalued the unit and failed to take into account its potential to be a significant driver of earnings in the future, the company said. H.B. Fuller shares were down 0.9%.Braskem (BAK) filed for out-of-court restructuring Monday, which involved more than $10 billion in debt, Reuters reported, citing people familiar with the matter. The filing, which comes as the petrochemical company's 60-day creditor protection period expires, provides an extra 90 days to negotiate a final restructuring plan with creditors, according to the report. Braskem shares were down 4.3%.Paramount Skydance's (PSKY) Monday meeting with California officials was canceled after State Attorney General Rob Bonta accused the company of leaking details and negotiating in bad faith over its proposed acquisition of Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were down 0.8%, while Warner Bros. shares were up 0.7%.Zillow Group (Z) said Monday it has resolved a lawsuit brought by the US Federal Trade Commission and five states over its partnership with Redfin. Under the agreement, Zillow and Redfin are allowed to continue their partnership, which aims to provide multifamily rental listings from both companies. Zillow shares were up 2.3%.Price: $210.12, Change: $-4.60, Percent Change: -2.14%

$APO$BABA$BAK$FUL$LYB$NVDA$PDD$PSKY$SHEL$WBD$XOM$Z
Wire

Paramount Skydance Extends Expiration Date for Warner Bros. Discovery Note Offers

Paramount Skydance (PSKY) extended the expiration date for its tender and exchange offers for certain Warner Bros. Discovery (WBD) notes to Sept. 4, the company said Monday.Paramount Skydance expects the offers to settle shortly after expiration, aligning with the proposed Warner Bros. Discovery acquisition closing, it added.Price: $10.28, Change: $-0.07, Percent Change: -0.72%

$PSKY$WBD
Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In corporate news, JetBlue Airways' (JBLU) balance sheet woes could worsen as the Strait of Hormuz appears unlikely to reopen anytime soon, potentially prolonging jet fuel volatility, Seaport Research Partners said. Seaport downgraded its rating on the JetBlue stock to neutral from buy and withdrew its price target, just months after upgrading the stock on the assumption that the Strait of Hormuz would reopen. JetBlue shares were down past 6%.PENN Entertainment (PENN) said Monday it plans to invest nearly $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino to a new landside property on adjacent land and rebrand it as Hollywood Casino New Orleans, subject to regulatory approval. PENN Entertainment shares were shedding 1.1%.Paramount Skydance (PSKY) on Monday asked a federal judge in Oakland, California, to require the 12 states suing to block the company's acquisition of Warner Bros. Discovery (WBD) to post a $1.88 billion bond by Sept. 30. Paramount shares were up 1.2%.H World (HTHT) shares jumped past 11% after it reported better-than-expected Q2 results.

$HTHT$JBLU$PENN$PSKY
Sectors

Sector Update: Consumer

Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In corporate news, Paramount Skydance (PSKY) on Monday asked a federal judge in Oakland, California, to require the 12 states suing to block the company's acquisition of Warner Bros. Discovery (WBD) to post a $1.88 billion bond by Sept. 30. Paramount shares were up nearly 1%.

$PSKY
Wire

Paramount Seeks $1.88 Billion Bond From 12 States in Merger Lawsuit

Paramount Skydance (PSKY) on Monday asked a federal judge in Oakland, California, to require the 12 states suing to block the company's acquisition of Warner Bros. Discovery (WBD) to post a $1.88 billion bond by Sept. 30."If Plaintiffs are to impede a merger that was otherwise on track to close with worldwide regulatory approval, they are required to post a bond to ensure that, if Defendants ultimately prevail, Paramount is compensated for the damage inflicted by being wrongfully delayed," Paramount said, according to a court document.Price: $10.16, Change: $+0.01, Percent Change: +0.15%

$PSKY$WBD
Wire

Paramount Skydance Extends Expiration Dates of Exchange Offers, Tender Offers

Paramount Skydance (PSKY) said Monday it has extended the expiration dates of its offers to buy for cash several notes issued by Discovery Global, formerly WarnerMedia, and Discovery Communications, as well as offers to exchange notes of the same issuers, to Aug. 28.Settlement dates for the offers are expected in Q3, the company said.Paramount said it anticipates extending the expiration dates until a time that would result in the settlement dates happening on or shortly after the closing of its planned acquisition of Warner Bros. Discovery (WBD).Price: $10.05, Change: $-0.09, Percent Change: -0.89%

$PSKY$WBD
Wire

Market Chatter: Paramount Skydance Weighed Creating Board to Guard CNN's Independence

Paramount Skydance (PSKY) considered creating an editorial board for CNN to address concerns about the network's independence, the Wall Street Journal reported Wednesday, citing people familiar with the situation.Paramount's deal to buy CNN's parent, Warner Bros. Discovery (WBD), is currently on hold following an antitrust lawsuit filed by California and 11 other states, with a trial scheduled for March.Internal discussions on the oversight committee for CNN's news operations began before the lawsuit was filed, the report said.Paramount Skydance and CNN did not immediately respond 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: $9.51, Change: $+0.13, Percent Change: +1.33%

$PSKY$WBD
Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.Redbook US same-store sales rose by 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% year-over-year increase in the previous week. Sales were lifted by back-to-school sales, particularly in multiple states that were holding sales tax holidays, Redbook said.In corporate news, California Attorney General Rob Bonta said Tuesday on X that Paramount Skydance (PSKY) is attempting to "blackmail" the state into letting its acquisition of Warner Bros. Discovery (WBD) proceed. Paramount shares were up 0.5%, and Warner added 0.9%.Best Buy (BBY) is seeing improving sales momentum amid factors such as continued replacement demand and emerging mini-product cycles, Truist Securities said Tuesday. Truist upgraded its rating on the company's stock to buy from hold and raised its price target to $95 from $81. Best Buy shares added 1.7%.On (ONON) tempered its full-year constant-currency sales growth outlook as the Swiss sneaker maker's Q2 revenue fell short of market estimates. Its shares fell past 20%.ACV Auctions (ACVA) has received takeover interest and is exploring a potential sale, Bloomberg reported. ACV, a digital marketplace where people can buy and sell cars, is working with financial advisers to conduct a review, and is also considering a strategic partnership as an alternative to a sale, the report said. ACV shares were up 0.4%.

$ACVA$BBY$ONON$PSKY$WBD
Sectors

Sector Update: Consumer

Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.In corporate news, California Attorney General Rob Bonta said Tuesday on X that Paramount Skydance (PSKY) is attempting to "blackmail" the state into letting its acquisition of Warner Bros. Discovery (WBD) proceed. Paramount shares were up 0.4%, and Warner added 0.7%.

$PSKY$WBD
Wire

California AG Says Paramount Trying to 'Blackmail' State Into Approving Deal

California Attorney General Rob Bonta said Tuesday on X that Paramount Skydance (PSKY) is attempting to "blackmail" the state into letting its acquisition of Warner Bros. Discovery (WBD) proceed."In a span of weeks, Paramount agreed to halt the merger until a court decision or until June 2027, asked for a November trial, and is now back with another attempt to blackmail the state into letting an illegal deal through," Bonta said. "Paramount has lost the plot as it continues to lose in court. It didn't work the first time - on the eve of our July lawsuit - and it won't work this time."Paramount didn't immediately reply to a request for comment from.Price: $9.21, Change: $-0.06, Percent Change: -0.70%

$PSKY$WBD
Wire

California AG Says Paramount Trying to 'Blackmail' State Into Approving Deal

California AG Says Paramount Trying to 'Blackmail' State Into Approving Deal

$PSKY$WBD
Warner Bros. Posts Surprise Quarterly Profit Amid Streaming Gains; Paramount Deal Gets UK Clearance
US Markets

Warner Bros. Posts Surprise Quarterly Profit Amid Streaming Gains; Paramount Deal Gets UK Clearance

Warner Bros. Discovery (WBD) reported a surprise second-quarter profit on Thursday amid double-digit revenue growth in its streaming segment, while the media and entertainment giant secured regulatory approval in the UK for its proposed acquisition by Paramount Skydance (PSKY).HBO Max parent Warner Bros. posted net income of $0.06 a share for the quarter ended June, down from $0.63 the year before, but better than the consensus on FactSet that called for a loss of $0.14. Overall revenue dropped 11% to $8.72 billion, trailing Wall Street's view for $9.25 billion.Separately, Paramount said the UK Competition and Markets Authority cleared its planned $110 billion purchase of Warner Bros. The UK CMA's approval brings total jurisdictions that have cleared or declined to challenge the deal to 66, following the European Commission's clearance in July.The deal has received antitrust approval in the US, although a coalition of 12 state attorneys general have filed a lawsuit seeking to block the transaction over concerns that it would lessen competition.A federal judge has set a March 2027 trial date for the multi-state suit, Wedbush Securities analyst Michael Piccolo said in a note. "Foreign clearances continue to de-risk (Paramount/Warner Bros.) but are largely priced in; the binding constraint remains the March 2027 US trial, not incremental jurisdictional approvals," the brokerage said."We remain highly confident that the Paramount merger will be completed," Warner Bros. said in a Thursday shareholder letter. "The closing of the transaction is on hold until the earlier of five days after legal proceedings are complete or June 1, 2027."Second-quarter revenue in the streaming segment climbed 10% to $3.08 billion, with subscriber-related sales contributing nearly $3 billion. The company saw "strong gains" in its ad-supported tier, accounting for more than half of retail subscriber gross additions during the quarter, Warner Bros. said in the letter.Subscriber-related revenue growth is expected to accelerate in the second half of the year and "remain healthy into 2027," according to the company.In the studios segment, revenue plunged 39% to $2.33 billion as the global box office performance of "certain titles" fell short of expectations during the first half of the year, Warner Bros. said.Revenue in the global linear networks division decreased 17% to $3.99 billion. Advertising tumbled 27% as the absence of the National Basketball Association in the current year quarter impacted domestic audience.Earlier this week, Walt Disney's (DIS) fiscal third-quarter revenue fell short of expectations despite a boost from "Toy Story 5." In July, streaming giant Netflix (NFLX) reported lower-than-expected revenue for the second quarter, while media and connectivity giant Comcast's (CMCSA) earnings per share declined year over year.Price: $26.36, Change: $+0.39, Percent Change: +1.50%

$CMCSA$DIS$NFLX$PSKY$WBD
Wire

TD Cowen Adjusts Paramount Skydance Price Target to $8 From $13

Paramount Skydance (PSKY) has an average rating of hold and mean price target of $12.15, according to analysts polled by FactSet.Price: $8.56, Change: $+0.17, Percent Change: +2.09%

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