$WBD

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Seaport GlobalDowngradedNeutral48d ago

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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

Sectors33d ago

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

Wire33d ago

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

Wire33d ago

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

$PSKY$WBD

Sectors38d ago

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Thursday 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 0.5%.In sector news, the US Federal Communications Commission said Thursday it has voted to repeal the 39% national television multiple ownership rule and replace it with a case-by-case review. Under the case-by-case approach, the commission can analyze factors related to localism, viewpoint diversity, and competition and apply them in the context of a specific transaction, the FCC said.In corporate news, Papa John's International (PZZA) shares fell past 17% after it cut its 2026 global systemwide restaurant sales outlook, overshadowing better-than-expected quarterly results despite lower revenue.Restaurant Brands International (QSR) reported better-than-expected Q2 earnings on Thursday amid strong comparable sales growth at Burger King across domestic and international markets. Its shares were still down 2.3%.Fox's (FOX, FOXA) fiscal Q4 results topped Wall Street's estimates as broad advertising strength from the FIFA Men's World Cup, along with growing streaming momentum at Tubi and Fox One drove top-line growth. The company's Class A and Class B shares climbed past 5%.Warner Bros. Discovery (WBD) reported a surprise Q2 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). Warner Bros. shares rose 2%.

$FOX$FOXA$PZZA$QSR$WBD

Sectors38d ago

Sector Update: Consumer Stocks Decline Thursday Afternoon

Consumer stocks were lower Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each decreasing 0.6%.In sector news, the US Federal Communications Commission has voted 2-1 to remove a restriction that limits companies from owning broadcast TV stations reaching more than 39% of TV households, Deadline reported Thursday. The move faces a potential court challenge, amid warnings that only Congress has the authority to remove the restriction, according to the report. FCC Chairman Brendan Carr has said that the cap removal is essential for providing relief for local broadcasters by restoring a counterbalance against growing leverage of national programmers.In corporate news, Papa John's International (PZZA) shares fell past 15% after it cut its 2026 global systemwide restaurant sales outlook, overshadowing better-than-expected quarterly results despite lower revenue.Restaurant Brands International (QSR) reported better-than-expected Q2 earnings on Thursday amid strong comparable sales growth at Burger King across domestic and international markets. Its shares were still down 2.3%.Warner Bros. Discovery (WBD) reported a surprise Q2 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). Warner Bros. shares rose 1.8%.

$PZZA$QSR$WBD

US Markets38d ago

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

US Markets38d ago

Stocks Mostly Up Pre-Bell as Investors Weigh Potential Iran-Oman Hormuz Deal, Await More Earnings

US equity markets were mostly pointing higher before the opening bell Thursday as investors assess prospects for a potential deal between Iran and Oman over the Strait of Hormuz and await the latest batch of corporate earnings.The S&P 500 edged up 0.1% and the Dow Jones Industrial Average rose 0.2% in premarket activity, while the Nasdaq declined 0.3%. The Nasdaq and S&P 500 finished the previous trading session lower, while the Dow logged a fresh closing high for a third straight day.Iranian Deputy Foreign Minister Kazem Gharibabadi reportedly said Thursday that an "understanding" between Iran and Oman regarding the Strait of Hormuz is close to being finalized, CNBC reported. Gharibabadi noted that the path of understanding is between the two countries and no negotiations have taken place with the US during this period.Earlier in the week, President Donald Trump reportedly said an agreement to reopen the strait, the world's most important chokepoint for crude flows, was imminent.West Texas Intermediate crude oil dipped 0.1% to $75.16 a barrel before the open, while Brent was slightly in the green at $79.47.ConocoPhillips (COP), Parker Hannifin (PH), Datadog (DDOG), Warner Bros. Discovery (WBD), Becton Dickinson (BDX), Keurig Dr Pepper (KDP), Kenvue (KVUE), Restaurant Brands International (QSR), Fiserv (FISV), Ralph Lauren (RL), Fox (FOX, FOXA), US Foods (USFD) and Unity Software (U) report their latest financial results before the bell, among others.Cloudflare (NET), Monster Beverage (MNST) and Airbnb (ABNB) are scheduled to post their earnings after the markets close.Shares of Applovin (APP) dropped 16% pre-bell after the mobile technology provider's second-quarter revenue fell short of market estimates. DoorDash (DASH) gained 2.4% as the company delivered a second-quarter revenue beat amid order momentum. SanDisk (SNDK) fell 8.9% following its latest quarterly results.Employers in the US announced 33,429 layoffs in July, down 27% from the month prior and 46% year over year, according to Challenger, Gray & Christmas' latest report. The weekly jobless claims bulletin is out at 8:30 am ET.On Wednesday, ADP (ADP) data showed that private-sector employment in the US increased less than expected last month as gains were concentrated in services. The government's nonfarm payrolls report for July is due on Friday.Treasury yields were trending higher in premarket action, with the two-year rate inclining 2.1 basis points to 4.2% and the 10-year rate adding 1 basis point to 4.63%.Federal Reserve Bank of St. Louis President Alberto Musalem is slated to speak at 5:30 pm.Gold traded up 0.5% at $4,328 per troy ounce, while bitcoin decreased 0.4% to $64,606.

Dow JonesNasdaq CompositeS&P 500$ABNB$ADP$APP$BDX$COP$DASH$DDOG$FISV$FOX$FOXA$KDP$KVUE$MNST$NET$PH$QSR$RL$SNDK$U$USFD$WBD

Sectors44d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 3.3%.In sector news, US consumer sentiment jumped in July amid broad-based gains across demographic groups, while year-ahead inflation expectations eased, final results of a survey by the University of Michigan showed Friday. The main sentiment index increased nearly 12% sequentially to 55.2 this month. The gauge for current economic conditions jumped to 54.8 from 47.7, while the index of consumer expectations advanced 9.3% to 55.4, according to the survey.New York Attorney General Letitia James and New York Governor Kathy Hochul sued Kalshi on Friday, alleging its prediction market platform operates as an illegal gambling business under state law. The lawsuit claims Kalshi allows users, including those under 21, to place bets on uncertain events without a state gaming license, violating New York gambling laws.In corporate news, Newell Brands' (NWL) Q2 earnings unexpectedly rose year over year on the back of tariff refunds, while the consumer products manufacturer returned to revenue growth for the first time in more than four years. Its shares jumped past 11%.California Governor Gavin Newsom has expressed concerns about the effect on state employment should the state's lawsuit result in the blocking of Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD), The Wall Street Journal reported. The governor's office has encouraged Attorney General Rob Bonta's office to find an out-of-court resolution, the report said. Paramount shares rose 1.5%, and Warner added 2.9%.General Motors (GM) intends to launch an in-vehicle AI system later this year, CNBC reported Friday, citing an interview with Anna Santos, GM's director of product management of voice and AI/machine learning. GM shares were up 0.3%.T-Mobile US (TMUS) executives have informed Deutsche Telekom, its controlling shareholder, that they no longer support a proposed $300 billion merger between the two companies, Semafor reported. T-Mobile US shares were down 0.5%.

$GM$NWL$PSKY$TMUS$WBD

Sectors44d ago

Sector Update: Consumer

Consumer stocks were mixed late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 3.3%.In corporate news, California Governor Gavin Newsom has expressed concerns about the effect on state employment should the state's lawsuit result in the blocking of Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery, The Wall Street Journal reported. The governor's office has encouraged Attorney General Rob Bonta's office to find an out-of-court resolution, the report said. Paramount shares rose 1.3%, and Warner added 2.9%.

$PSKY$WBD

Wire44d ago

Market Chatter: Newsom Concerned About California's Suit Against Paramount-Warner Bros. Deal

California Governor Gavin Newsom has expressed concerns about the effect on state employment should the state's lawsuit result in blocking of Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery, The Wall Street Journal reported Friday, citing people close to the antitrust suit.The governor's office has encouraged Attorney General Rob Bonta's office to find an out-of-court resolution, the report said, citing the people.Newsom's office didn't immediately reply to a request 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: $7.95, Change: $+0.14, Percent Change: +1.73%

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Wire44d ago

Newsom Concerned About California's Suit Against Paramount-Warner Bros. Deal, The WSJ Reports

$PSKY$WBD

Research48d ago

Seaport Global Downgrades Warner Bros. Discovery to Neutral From Buy

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.

$WBD

Sectors53d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

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%.

$ALK$LYFT$PM$PSKY$UBER$WBD

Sectors53d ago

Sector Update: Consumer

$PSKY$WBD

Wire53d ago

Paramount Skydance Wins Conditional EU Approval for Warner Bros. Discovery Deal

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%

$PSKY$WBD

Sectors55d ago

Sector Update: Consumer Stocks Softer Late Afternoon

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%.

$MNST$NFLX$PG$PSKY$WBD

Sectors55d ago

Sector Update: Consumer

$PSKY$WBD

Wire55d ago

Paramount-Warner Bros. Merger Temporarily Paused by Federal Judge

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%

$PSKY$WBD

Wire55d ago

Paramount-Warner Bros. Merger Temporarily Paused by Federal Judge

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