67 stories mentioning WBDUpdated 3d ago
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Warner Bros. Discovery, Series A (WBD) has an average rating of hold and mean price target of $29.86, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.In corporate news, Paramount Skydance (PSKY) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery (WBD). Paramount shares rose 2.5%, and Warner gained 0.3%.Uber (UBER) and Lyft (LYFT) were granted a preliminary injunction by US District Judge Gregory Woods, blocking a recently enacted New York City law protecting ride-share drivers from "wrongful deactivations." Uber shares fell 2%, and Lyft slumped 4.2%.Alaska Air (ALK) shares fell 3% after the airline issued a Q3 earnings outlook below market estimates and swung to a Q2 loss as higher fuel costs weighed on results.Philip Morris International (PM) reported better-than-expected Q2 results and reiterated its full-year outlook. The shares climbed 3.3%.
Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.9%.In corporate news, Paramount Skydance (PSKY) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery (WBD), the regulator said in a statement. Paramount shares rose 2.5%, and Warner was slightly higher.
Paramount Skydance (PSKY) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery (WBD), the regulator said in a statement.The deal raised concerns about reduced competition in theatrical film distribution because Paramount jointly controls United International Pictures with Universal, the commission said in a press release dated Wednesday.To address those concerns, Paramount agreed to sell its stake in UIP within 13 months of closing and to refrain from co-distributing films with Universal in EU member states for 10 years. It also committed not to shift Warner's or its own film distribution in ways that would expand overlap with Universal, the commission said.Price: $8.79, Change: $+0.26, Percent Change: +2.99%
Consumer stocks declined late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.9%.In corporate news, a federal judge in California on Monday granted a motion brought by 12 states for a temporary restraining order that prohibits Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) from consummating their merger. The order remains in effect for 14 days. Paramount shares were down 1.1%, and Warner fell 3.6%.Netflix (NFLX) is returning to the US high-grade bond market for the first time since its debut two years ago, Bloomberg reported. Netflix shares shed 2.1%.Monster Beverage (MNST) shares fell 1.9% in Monday trading after Deutsche Bank downgraded the stock to hold from buy, while lifting its price target to $98 from $94.Procter & Gamble (PG) investors are bracing for the company's fiscal Q4 organic sales to fall short of Wall Street expectations, given uncertainty as to whether shipment growth in the quarter will mirror strong US consumption, UBS said in a note. Procter & Gamble shares were down 0.9%.
Consumer stocks declined late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.9%.In corporate news, a federal judge in California on Monday granted a motion brought by 12 states for a temporary restraining order that prohibits Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) from consummating their merger. The order remains in effect for 14 days. Paramount shares were down 0.6%, and Warner fell 3.3%.
A federal judge in California on Monday granted a motion brought by 12 states for a temporary restraining order that prohibits Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) from consummating their merger.The order remains in effect for 14 days.Paramount Skydance and Warner Bros. didn't immediately reply to requests for comment from.Price: $8.58, Change: $-0.18, Percent Change: -2.00%
Paramount-Warner Bros. Merger Temporarily Paused by Federal Judge
Consumer stocks were falling late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.6%.In corporate news, Netflix's (NFLX) Q2 revenue fell short of Wall Street's estimates, while the streaming giant said it will no longer publish its engagement report semi-annually. Its shares fell 7.4%.Walmart's (WMT) chief operating officer for its US operations, Kieran Shanahan, is leaving the role, with COO for Walmart International, Kyle Kinnard, taking over effective immediately, Walmart said Friday. Walmart shares were down 0.4%.Autoliv's (ALV) Q2 revenue topped expectations, though earnings fell short amid higher raw material costs. Autoliv shares were down 3.5%.Electronic Arts (EA) is expected to receive European Union approval under the bloc's foreign subsidy rules for its proposed $55 billion acquisition by an investor group led by Saudi Arabia's Public Investment Fund, Reuters reported. Electronic Arts shares added 0.5%.A federal judge in California said Friday she would rule by July 22 on a dozen states' request to at least temporarily block Paramount Skydance's (PSKY) takeover of Warner Bros. Discovery (WBD), Bloomberg reported. Paramount shares were down 4.7%, and Warner shed 1.5%.
Consumer stocks were falling late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.5%.In corporate news, a federal judge in California said Friday she would rule by July 22 on a dozen states' request to at least temporarily block Paramount Skydance's (PSKY) takeover of Warner Bros. Discovery (WBD), Bloomberg reported. Paramount shares were down 3.9%, and Warner shed 1.2%.
A federal judge in California said Friday she would rule by July 22 on a dozen states' request to at least temporarily block Paramount Skydance's (PSKY) takeover of Warner Bros. Discovery (WBD), Bloomberg reported Friday.The judge set the timetable following a hearing in the case, according to the report.(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: $8.78, Change: $-0.36, Percent Change: -3.94%
States' Suit Against Paramount-Warner Bros. Deal to Get Ruling by July 22, Bloomberg Reports
Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 1.1%.In corporate news, Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) are facing a lawsuit from California Attorney General Rob Bonta led coalition of 12 state attorneys general seeking to block the companies' proposed $110 billion merger deal, the AG said. Paramount shares were up 1.7%, and Warner Bros. climbed 2.4%.Casey's General Stores (CASY) shares gained 4.1% after Northcoast Research upgraded the stock to buy from neutral with a price target of $950 per share.Papa John's (PZZA) CFO's departure likely suggests a sharp operational turnaround is unlikely in the near term at the pizza chain, BofA Securities said in a note. Last month, Papa John's appointed Chris Collins as interim finance chief, replacing Ravi Thanawala, who will take on the CFO role at American Eagle Outfitters (AEO). BofA downgraded Papa John's rating to underperform from neutral and decreased the price target to $34 from $42. Papa John's shares were down 0.8%.New York Times (NYT) reporters were subpoenaed by the Trump administration as part of a leak investigation tied to the newspaper's reporting on security concerns involving a Qatari-gifted Air Force One aircraft, The Wall Street Journal reported. According to the report, four New York Times reporters were subpoenaed after the newspaper reported that President Donald Trump returned from Turkey on an older Air Force One over security concerns involving the Qatari-gifted jet. New York Times shares were up 0.3%.
Paramount Skydance's (PSKY) proposed acquisition of fellow media and entertainment giant Warner Bros. Discovery (WBD) is facing a multistate lawsuit in the US alleging that the roughly $110 billion deal would lessen competition in several areas.Earlier this year, Paramount entered into an agreement to buy Warner Bros. after streaming giant Netflix (NFLX) withdrew from its proposed deal to purchase the HBO Max owner.A coalition of 12 state attorneys general filed the lawsuit in the US District Court for the Northern District of California, led by California Attorney General Rob Bonta, seeking to block the deal. The complaint alleges that the transaction violates the Clayton Act, which holds that mergers that may significantly reduce or tend to create a monopoly are illegal.The deal seeks to combine two of Hollywood's five major film distributors and two of the five major basic cable channel owners. In the US alone, the merged entity would control almost one-third of theatrical motion pictures and one-third of basic cable programming, according to the lawsuit."The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the US," Bonta said in a statement Monday.The lawsuit includes the attorneys general of Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington.Paramount vowed to "vigorously defend" the transaction against what it termed a "fundamentally flawed application of the antitrust laws" designed to block a combination meant to better compete with dominant platforms like Netflix, a Paramount spokesperson said in a statement.Competition and foreign direct investment regulators across 24 global jurisdictions have already cleared the deal, according to the statement.Warner Bros. didn't immediately respond to' request for comment.Paramount shares were up 2.2% in Monday late-afternoon trade, while Warner Bros. gained 2.4%. Netflix was 1% higher.The European Commission is reviewing the deal and has set a July 22 provisional deadline for its decision.Price: $9.63, Change: $+0.22, Percent Change: +2.28%
(Updates with Paramount Skydance's statement in the fourth and fifth paragraphs.)Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) are facing a lawsuit from California Attorney General Rob Bonta-led coalition of 12 state attorneys general seeking to block the companies' proposed $110 billion merger deal, the AG said Monday.The lawsuit argues the deal would eliminate competition between two of the industry's five major film distributors and two of the five major basic cable channel owners."The coalition has asked Warner Bros. and Paramount not to close the merger until after the judicial process concludes, and if they do not agree, the coalition will be filing a temporary restraining order," the AG added.Paramount Skydance said the lawsuit misrepresents both antitrust law and competition in the current entertainment industry. The company added that antitrust regulators around the world have already reviewed the transaction and concluded the merger would create a stronger competitor to dominant streaming and technology platforms."We will vigorously defend the transaction and demonstrate that this challenge is inconsistent with sound competition policy and the competitive realities of the media marketplace," the company said.Warner Bros. Discovery didn't immediately respond to' request for comment.Price: $9.72, Change: $+0.31, Percent Change: +3.24%
Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.In corporate news, Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) are facing a lawsuit from California Attorney General Rob Bonta led coalition of 12 state attorneys general seeking to block the companies' proposed $110 billion merger deal, the AG said. Paramount shares were up 2%, and Warner Bros. climbed 3%.Papa John's (PZZA) CFO's departure likely suggests a sharp operational turnaround is unlikely in the near term at the pizza chain, BofA Securities said in a note. Last month, Papa John's appointed Chris Collins as interim finance chief, replacing Ravi Thanawala, who will take on the CFO role at American Eagle Outfitters (AEO). BofA downgraded Papa John's rating to underperform from neutral and decreased the price target to $34 from $42. Papa John's shares were down 1%.New York Times (NYT) reporters were subpoenaed by the Trump administration as part of a leak investigation tied to the newspaper's reporting on security concerns involving a Qatari-gifted Air Force One aircraft, The Wall Street Journal reported. According to the report, four New York Times reporters were subpoenaed after the newspaper reported that President Donald Trump returned from Turkey on an older Air Force One over security concerns involving the Qatari-gifted jet. New York Times shares were up 1.2%.
Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) are facing a lawsuit from California Attorney General Rob Bonta led coalition of 12 state attorneys general seeking to block the companies' proposed $110 billion merger deal, the AG said Monday.The lawsuit argues the deal would eliminate competition between two of the industry's five major film distributors and two of the five major basic cable channel owners."The coalition has asked Warner Bros. and Paramount not to close the merger until after the judicial process concludes, and if they do not agree, the coalition will be filing a temporary restraining order," the AG added.Paramount Skydance and Warner Bros. Discovery didn't immediately respond to' requests for comment.Price: $9.74, Change: $+0.32, Percent Change: +3.45%
California AG Sues to Block Paramount Skydance-Warner Bros. Merger
Street Color: Paramount Facing Lawsuit From 12 Attorneys General Over Proposed $110 Billion Acquisition of Warner Bros.
All three major US stock indexes were down in late-morning trading Monday, as the US and Iran exchanged airstrikes over the weekend.President Donald Trump said Monday on Truth Social that the US will act as "THE GUARDIAN OF THE HORMUZ STRAIT" and will receive reimbursement for all incurred costs "at the rate of 20% on all cargo shipped." Trump said the strait is open and will remain so for all non-Iranian vessels.In company news, Meta Platforms (META) said Monday it plans to invest over $50 billion in its Richland Parish, Louisiana, infrastructure project to expand its computing capacity to 5 gigawatts. The tech giant will finance seven new natural gas-generating plants and three grid-scale batteries to completely cover its power requirements. Meta shares were down 1% around midday.Funds managed by Blackstone (BX) Credit & Finance, in partnership with Apollo Global Management (APO) and KKR-managed (KKR) insurance vehicles will invest $5.34 billion in Williams' (WMB) five Power Innovation projects in exchange for a 49% noncontrolling equity interest in the projects, Williams said Monday. Blackstone shares were down 0.8%, and Williams shares were down 0.1%. Apollo and KKR shares were down 0.8% and 0.3%, respectively.Taiwan Semiconductor Manufacturing (TSM) said Monday its net revenue for June totaled about 442.68 billion New Taiwan dollars ($13.79 billion), up 6.2% from the previous month and up 67.9% from a year earlier. Its shares were down 1.2%.First Hawaiian (FHB) said Monday it has signed a definitive agreement to acquire TriCo Bancshares (TCBK) in an all-stock deal. Under the deal terms, TriCo shareholders will receive 2.095 First Hawaiian shares for each TriCo share, valued at $63.12 per share based on First Hawaiian's July 10 closing price. First Hawaiian shares were down 4.6%, while TriCo shares were up 10.5%.Ferguson Enterprises (FERG) said Monday it has entered into a definitive agreement to acquire FWI Holdings, or FloWorks, in a deal with an enterprise value of about $1.6 billion. The deal is expected to close in Q3, subject to regulatory approvals and closing conditions. Ferguson shares were up 2.1%.Roughly a dozen states are set to file a lawsuit Monday in federal court in an effort to block Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD), Bloomberg reported, citing a person familiar with the matter. Paramount and Warner Bros. shares were up 2.7% and 0.5%, respectively.A federal appeals court on Monday vacated a district court's earlier dismissal of plaintiff claims that they were not warned that prenatal ingestion of Kenvue's (KVUE) Tylenol and its generic equivalents could cause autism spectrum disorder attention-deficit/hyperactivity disorder. Kenvue shares were down 1.6%.Price: $662.82, Change: $-6.39, Percent Change: -0.95%
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