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$VSNT

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Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.6%.In sector news, negotiators seem to be preparing to extend a truce on trade and tariffs reached last year between the US and China, as Chinese President Xi Jinping comes later this week to Washington to meet President Donald Trump, The New York Times reported.In corporate news, Paramount Skydance (PSKY) has reached a settlement agreement with California and other states that sued to block the company's proposed acquisition of Warner Bros. Discovery (WBD), Bloomberg reported. Paramount shares were down 2.4%, and Warner Bros. jumped past 10%.Warner Bros. Discovery unit CNN, Versant Media (VSNT) unit MS Now, and Politico said Monday they are suing President Donald Trump and his administration to reverse the administration's move to ban the media outlets from the White House. Versant shares were down 2.1%.Anheuser-Busch (BUD) shares added 0.6% after it said Monday it is investing $23 million in its Fort Collins, Colorado, brewery to increase Michelob Ultra production and expand manufacturing skills training.Tesla (TSLA) faces trial in a lawsuit brought by the California Civil Rights Department, or CRD, over allegations of racial harassment and discrimination, with proceedings beginning today, CRD toldon Monday. Tesla shares rose 2.8%.

$BUD$PSKY$TSLA$VSNT$WBD
Sectors

Sector Update: Consumer Stocks Mixed Monday Afternoon

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 1.3%.In sector news, negotiators seem to be preparing to extend a truce on trade and tariffs reached last year between the US and China, as Chinese President Xi Jinping comes later this week to Washington to meet President Donald Trump, The New York Times reported.In corporate news, Paramount Skydance (PSKY) has reached a settlement agreement with California and other states that sued to block the company's proposed acquisition of Warner Bros. Discovery (WBD), Bloomberg reported. Paramount shares jumped past 6%, and Warner Bros. surged 11%.Warner Bros. Discovery unit CNN, Versant Media (VSNT) unit MS Now and Politico said Monday they are suing President Donald Trump and his administration to reverse the administration's move to ban the media outlets from the White House. Versant shares were down 1.3%.Tesla (TSLA) faces trial in a lawsuit brought by the California Civil Rights Department, or CRD, over allegations of racial harassment and discrimination, with proceedings beginning today, CRD toldon Monday. Shares rose 2.5%.

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Wire

Top Midday Stories: Paramount Skydance Settles With US States to Pave Way for Warner Bros. Deal; Anthropic Now Eyeing November IPO

All three major US stock indexes were up in late-morning trading Monday, as oil prices and Treasury yields fell to kick off a new week of trading.In company news, Paramount Skydance (PSKY) has reached a settlement agreement with California and other states that sued to block the company's proposed acquisition of Warner Bros. Discovery (WBD), Bloomberg reported Monday, citing a person familiar with the matter. Four states that had opposed the terms of a deal that California had outlined with Paramount conceded over the weekend, paving the way for the settlement, the report said, citing the person. The settlement is expected to be announced later on Monday, the report said. Separately, Warner Bros. unit CNN, Versant Media (VSNT) unit MS Now and Politico said Monday they are suing President Donald Trump and his administration to reverse the administration's move to ban the media outlets from the White House. Shares of Paramount Skydance and Warner Bros. were up 8.5% and 10%, respectively, around midday.Amazon-backed (AMZN) Anthropic is now targeting an initial public offering in November, later than the previously expected launch in October, The Wall Street Journal reported Friday, citing sources familiar with the matter. Anthropic plans to meet prospective investors in the coming days to evaluate interest in the potential IPO, the report said, citing the sources. Amazon shares were up 0.6%.Novo Nordisk (NVO) outlined long-term financial and pipeline targets on Monday, including plans for 150 billion Danish kroner ($23.04 billion) in pipeline sales in 2035 and the launch of at least five multi-blockbusters by 2030. Novo said it is targeting compounded annual revenue growth rates in line with industry peers from 2026 to 2030. The Danish drugmaker also said it is aiming to scale capacity to serve 10 times more people with obesity on oral GLP-1s and over 60 million patients by 2030. Separately, Novo Nordisk said Monday its investigational once-weekly weight-loss and diabetes treatment CagriSema was superior to Eli Lilly's (LLY) tirzepatide and met its primary superiority endpoint in two phase 3 trials. Novo Nordisk shares were down 8.0%, while Eli Lilly shares were up 1%.JPMorgan's (JPM) asset management division and Qatar Investment Authority have signed a memorandum of understanding to establish a $20 billion partnership, spanning public and private markets in both equities and credit, the parties said Monday. The arrangement includes a $15 billion public equities mandate and a $5 billion private markets initiative focused on middle-market companies in the US, according to a statement. JPMorgan shares were up 0.3%.Halliburton (HAL) said Monday it has signed memorandums of understanding with Eneva and WESCA to support oil and gas sector development in Venezuela. Halliburton shares were down 1.4%.Price: $11.08, Change: $+0.86, Percent Change: +8.47%

$AMZN$GS$HAL$JPM$LLY$NVO$PSKY$VSNT$WBD
Wire

Donald Trump Bans CNN, MS NOW From White House

Warner Bros. Discovery (WBD)-owned CNN, Versant Media-owned MS NOW, and Politico were banned from the White House, effective immediately, US President Donald Trump said in a Truth Social Post on Friday.Trump asserted that media outlets shouldn't be able to constantly report false news when covering the US President, the Trump Administration, or the United States of America, according to the post.The President also indicated in his post that more news outlets could face a similar outcome.CNN and MS NOW did not immediately respond to a request for comment from.Price: $27.78, Change: $-0.46, Percent Change: -1.63%

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Comcast to Separate Media and Technology Businesses in Spinoff
US Markets

Comcast to Separate Media and Technology Businesses in Spinoff

Comcast (CMCSA) said Monday it plans to split into two publicly traded companies, separating its NBCUniversal and Sky media businesses from its broadband and connectivity operations as the media giant aims to boost strategic focus for each unit.The proposed spinoff, expected to be tax-free, is anticipated to be completed in about one year, subject to customary conditions, including board approval. Upon completion, Comcast shareholders will own shares in both Comcast and NBCUniversal.Comcast's shares rose about 20% in the most recent premarket activity.After completion of the proposed separation, Comcast will focus on its broadband, wireless and business services operations. NBCUniversal, together with Sky, will become an independent publicly traded company with media and entertainment assets including theme parks, film and television studios, NBC and Telemundo networks, Peacock and Bravo.Brian Roberts, chairman and co-chief executive officer of Comcast, will remain actively involved in the leadership of both companies. "The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business," Roberts said in a statement.Mike Cavanagh, who currently serves as co-chief executive officer of Comcast, will become CEO of NBCUniversal, while former Chief Financial Officer Michael Angelakis will return as CEO of Comcast following the separation."Comcast will continue to build on its leadership in connectivity, while NBCUniversal, together with Sky, will have the scale, brands, content and financial resources to compete as a premier global media and entertainment company," Cavanagh said.Comcast said it expects to retain up to a 19.9% stake in NBCUniversal for up to one year after the spin-off.Comcast earlier this year completed the spinoff of its cable TV networks and digital assets into the separately traded company Versant Media (VSNT).The latest separation announcement comes as media companies pursue consolidation to gain scale. Earlier this month, Fox (FOX, FOXA) agreed to acquire Roku (ROKU) in a cash-and-stock deal that values the TV streaming platform at about $22 billion.Earlier this year, Paramount Skydance (PSKY) agreed to acquire rival Warner Bros. Discovery (WBD) in a deal with an enterprise value of $110 billion. The US Justice Department's antitrust division recently cleared the deal.

$CMCSA$ROKU$VSNT$WBD
Research

Research Alert: CFRA Maintains Sell Opinion On Shares Of Versant Media Group, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price at $35, applying an EV/EBITDA multiple of 3.4x to our 2026 estimate, a slight discount to peers. We lower our 2026 EPS estimate by $0.34 to $5.46 and trim 2027's by $0.34 to $7.67. VSNT experienced ongoing pressure on its Pay TV business, particularly affecting both linear distribution and advertising revenues. This was largely attributed to continued cord-cutting trends, which led to a 7% Y/Y decline in linear distribution revenue and a 5% Y/Y decrease in advertising revenue, although the advertising decline showed improvement compared to the prior year's drop. These trends were described as consistent with the prior trajectory and were partially mitigated by other growth areas but remain a headwind for the company's traditional TV business model.

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Wire

Correction: Versant Media Q1 Earnings, Revenue Decline

(Corrects the quarter in the headline and first paragraph.)Versant Media (VSNT) reported Q1 earnings Thursday of $1.99 per diluted share, down from $2.55 a year earlier.Four analysts polled by FactSet expected $1.70.Revenue for the quarter ended March 31 was $1.69 billion, down from $1.71 billion a year earlier.Analysts surveyed by FactSet expected $1.62 billion.Shares of the company were up more than 15% in recent Thursday premarket activity.Price: $44.23, Change: $+3.79, Percent Change: +9.36%

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Research

Research Alert: Versant Media Revenue Drops On Lower Ad Sales

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Versant Media Group reported first quarter results with revenues of $1.69B, down 1.1% Y/Y, and diluted EPS of $1.99 versus $2.55 in the prior year. The decline reflected continued challenges in linear operations, with distribution revenues falling 7.3% and ad revenues down 5.2%, partially offset by strong Platforms growth of 9.5%. When adjusted for estimated standalone operating costs, Adjusted EBITDA grew 4.8%, showing operational improvement despite headwinds. Management committed to shareholder returns with $100M in share buybacks and plans an additional $100M accelerated repurchase program. The company is launching several D2C products in 2026, including CNBC and MS NOW subscription services, targeting revenue diversification from 19% non-pay TV revenue in 2025 to 33% within three-to-five years. Tracking progress on this revenue mix shift and platform business performance against management's high single-digit organic growth targets will be key focus areas going forward.

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Research

JPMorgan Initiates Versant Media at Neutral With $43 Price Target

Versant Media Group, Inc. Class A (VSNT) has an average rating of hold and mean price target of $40.83, according to analysts polled by FactSet.

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Wire

Market Chatter: Versant Media Group to Sell SportsEngine to PlayMetrics

Versant Media Group (VSNT) has agreed to sell SportsEngine to Genstar Capital-backed rival PlayMetrics, Bloomberg News reported Friday, citing people familiar with the matter.Terms were not immediately known, but Versant explored a sale last year that would have valued SportsEngine at between $400 million and $500 million, according to the report.A deal could be announced as early as Friday, Bloomberg said.Versant Media Group and PlayMetrics did not immediately respond to' request for comment.Shares of Versant Media Group were up 1.7% in Friday trading.(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: $40.87, Change: $+0.68, Percent Change: +1.69%

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Wire

Versant Media Group to Sell SportsEngine to Genstar's PlayMetrics, Bloomberg Reports

Versant Media Group to Sell SportsEngine to Genstar's PlayMetrics, Bloomberg Reports

$VSNT
Research

Research Alert: CFRA Initiates Coverage On Shares Of Versant Media Group, Inc. With A Sell Opinion

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We set our 12-month target at $35, applying an EV/EBITDA multiple of 3.1x to our 2026 estimate. We set our 2026 EPS estimate at $5.80 and 2027's at $8.01. Versant operates in highly competitive and rapidly evolving media and entertainment markets that are experiencing fundamental shifts in how audiences consume content. It faces intense competition across all aspects of its business, with competitors that have significant resources, greater efficiencies of scale, and fewer regulatory burdens increasingly challenging its market position. There is ongoing secular pressure in the pay TV sector, driven by cord cutting, which continues to erode linear distribution revenue and poses long-term risks for the business. The company acknowledged ratings declines, particularly impacting advertising revenue streams, and highlighted post-election normalization as a headwind for both advertising and overall revenue. It also mentioned that a softer theatrical slate negatively affected Fandango's performance.

$VSNT

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