$WBD

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Wedbush Lifts 2026 Box Office Outlook Following Strong First-Quarter Performance, Wedbush Says

Wedbush Securities on Monday raised the North American box office forecast for 2026, citing strong first-quarter growth and summer releases.The brokerage expects box office proceeds to rise 13% annually to $9.8 billion this year, up from 10% previously projected. First-quarter collections grew 25% year over year to $1.8 billion.CinemaCon, a trade show for the motion picture theater industry, was conducted in Las Vegas last week. The event showed strong studio slates and a focus on lengthening theatrical windows, Wedbush said."All of the studios came out this year with more confidence than last year," Wedbush analysts, including Alicia Reese, said.The deal between Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) dominated the event, with Paramount Chief Executive David Ellison promising a 45-day exclusive theatrical window upon deal completion and an output increase to 30 titles per year, Reese said.Theater operators have been demanding a 45-day minimum, Reuters reported last week. Movies staying in theaters longer drives more favorable economics across theatrical and streaming, according to the Wedbush note.Comcast's (CMCSA) Universal said it planned to extend the exclusive theatrical window to 45 days by 2027, compared with its current 17-day window that is seen moving to 35 days in 2026, Reese said.The summer slate, especially in the third quarter, "is shaping up very nicely," Reese said.Last week, B. Riley Securities raised its 2026 box office projections to $9.55 billion from $9.40 following a better-than-expected first quarter.Wedbush upgraded its 2027 box office growth estimate to 5% from 4%, at $10.2 billion.However, if the combined Paramount-Warner Bros. company cuts theatrical output, there could be some downside risk to the 2027 estimate, Reese said."That said, our current estimate does not anticipate that the combined studio reaching the company's stated goal of 30 total titles," Reese said.

$CMCSA$PSKY$WBD

US Markets103d ago

Nasdaq, S&P 500 Hit New Peaks as Iran Reopens Hormuz

The Nasdaq Composite and the S&P 500 notched new peaks on Friday after Iran announced a temporary reopening of the Strait of Hormuz, sending oil prices tumbling.The Nasdaq rose 1.5% to 24,468.5, while the S&P 500 added 1.2% to 7,126.1, notching record-high closing levels for the third straight day. The Nasdaq extended its advance to a 13th consecutive session, its longest winning streak since 1992, according to CNBC.The Dow Jones Industrial Average jumped 1.8% to 49,447.9.Barring energy and utilities, all sectors were in the green, led by consumer discretionary's 2% jump.The Nasdaq and the S&P 500 saw their biggest weekly gains since May last year, rising 6.8% and 4.5%, respectively, this week. The Dow advanced 3.2% this week, the most since June.West Texas Intermediate crude oil sank 11% to $84.68 a barrel in Friday late-afternoon trade, while Brent lost 8.7% to $90.71."In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iranian Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Vessels must move through a "coordinated route" announced by Iran's Ports and Maritime Organization, Araghchi said.On Thursday, US President Donald Trump said Lebanon and Israel agreed to a 10-day ceasefire that seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon. That was a key sticking point in peace negotiations between the US and Iran."Araghchi's statement represents a significant and unexpected diplomatic opening," Artem Abramov, deputy head of analysis at Rystad Energy, said in a note e-mailed to. "The Strait of Hormuz has been the single most consequential variable in global oil markets since the conflict escalated, and any credible signal that the chokepoint may reopen, even temporarily, is a market-moving development of the first order."Trump welcomed the reopening of the strait, though he said the US naval blockade of Iran's ports will continue until "our transaction with Iran is 100% complete.""The news that Iran will allow traffic to resume through the Strait of Hormuz could be an important turning point and the catalyst for upgrades to our economic forecasts, but not immediately," Oxford Economics said in a note. "The development increases the risk that a more lasting deal could be brokered, reducing the likelihood of extreme downside scenarios crystalizing."Shares of cruise line operators and airlines jumped, with Royal Caribbean Cruises (RCL) up 7.3%, the best performer on the S&P 500, followed United Airlines (UAL) and Carnival (CCL). Southwest Airlines (LUV) rose 5.1%.US Treasury yields were lower, with the 10-year rate down seven basis points at 4.25% and the two-year rate dropping 7.4 basis point to 3.71%.In company news, Netflix (NFLX) shares tumbled 9.7%, the third-worst performer on the S&P 500.The streaming giant late Thursday posted first-quarter revenue above Wall Street's estimates. However, the company disappointed investors by maintaining its margin outlook even though its cost base apparently would have benefited from its decision to walk away from a deal to acquire Warner Bros. Discovery (WBD), MoffettNathanson said in a note Friday.Gold was last up 1.3% at $4,871.10 per troy ounce, while silver gained 3.4% to $81.40 per ounce.

Dow JonesNasdaq CompositeS&P 500$CCL$LUV$NFLX$RCL$UAL$WBD

US Markets104d ago

Equities Rally Intraday, Oil Plunges After Iran Declares Hormuz Strait Open

US benchmark equity indexes advanced intraday, while oil prices slumped after Iran declared the Strait of Hormuz "completely open" following a ceasefire deal between Lebanon and Israel.The Dow Jones Industrial Average was up 1.9% at 49,507.9 after midday Friday. The Nasdaq Composite jumped 1.4% to 24,447.8, while the S&P 500 rose 1.2% to 7,126.6. The two indexes notched their second consecutive record-high closes in the previous session.Barring energy and utilities, all sectors were in the green intraday Friday, led by consumer discretionary's 2.7% jump.West Texas Intermediate crude oil sank 11% to $84.20 a barrel, while Brent lost 9% to $90.44."In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iranian Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Vessels must move through a "coordinated route" announced by Iran's Ports and Maritime Organization, Araghchi said.On Thursday, US President Donald Trump said Lebanon and Israel agreed to a 10-day ceasefire that seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon. That was a key sticking point in peace negotiations between the US and Iran.Trump welcomed the reopening of the strait, though he said on Truth Social that the US naval blockade of Iran's ports will continue until "our transaction with Iran is 100% complete.""The news that Iran will allow traffic to resume through the Strait of Hormuz could be an important turning point and the catalyst for upgrades to our economic forecasts, but not immediately," Oxford Economics said in a note. "The development increases the risk that a more lasting deal could be brokered, reducing the likelihood of extreme downside scenarios crystalizing."A quarter-long closure of the strait will likely push US inflation higher by 0.6 percentage point this year, researchers at the Federal Reserve Bank of Dallas said in an article Friday.Shares of cruise line operators and airlines surged intraday, with Royal Caribbean Cruises (RCL) up 8.2%, the best performer on the S&P 500, followed by Carnival's (CCL) 7.8% gain. United Airlines (UAL) jumped 7.6%, while Southwest Airlines (LUV) climbed 6.5%, among the top gainers on the index.US Treasury yields were lower intraday, with the 10-year rate down 6.3 basis points at 4.25% and the two-year rate dropping 7.8 basis point to 3.69%.In company news, Netflix (NFLX) shares were down 10% intraday, the second-worst performer on the S&P 500.The streaming giant late Thursday posted first-quarter revenue above Wall Street's estimates. However, the company disappointed investors by maintaining its margin outlook even though its cost base apparently would have benefited from its decision to walk away from a deal to acquire Warner Bros. Discovery (WBD), MoffettNathanson said in a note Friday.Gold was up 1.5% at $4,881.40 per troy ounce, while silver gained 3.8% to $81.71 per ounce.

Dow JonesNasdaq CompositeS&P 500$CCL$LUV$NFLX$RCL$UAL$WBD

US Markets104d ago

B. Riley Upgrades 2026 Box Office Outlook Following First-Quarter Beat

US box office revenue this year is set to come in higher than previously projected following a better-than-expected first quarter, B. Riley Securities said Friday.The industry raked in box office proceeds of about $1.74 billion in the first three months of the year, jumping 22% year over year and ahead of the brokerage's $1.59 billion view. The performance reflected a 14% increase in January, a "flattish" February and "healthy" gains in March, which benefited from the commercial success of the Amazon (AMZN) MGM-distributed film "Project Hail Mary," B. Riley said.Paramount Skydance's (PSKY) "Scream 7," Walt Disney's (DIS) "Hoppers" and Warner Bros. Discovery's (WBD) "Wuthering Heights" also contributed to the first-quarter outperformance, B. Riley analyst Drew Crum said in a note to clients.The brokerage now estimates domestic box office collections of $9.55 billion for 2026, up from its previous expectations of $9.40 billion, with the outperformance in the first quarter "serving as the key driver to this upward adjustment."The first-quarter domestic box office provided "some needed confidence following a shaky (second half of 2025), while this momentum has continued into early (second quarter)," Crum said.B. Riley reiterated its US box office revenue estimate of $2.70 billion for the current three-month period, reflecting an annual increase of 1%. For the third and fourth quarters, the brokerage is expecting proceeds of $2.70 billion and $2.40 billion, respectively."Improving box office trends could lead to quarterly beats, upward revisions to estimates, and hence multiple expansion," Crum said. "General optimism for the 2026-2027 slate, further progress on windowing, and encouraging developments regarding labor negotiations for Hollywood guilds, may help sentiment too."The brokerage raised its price targets on the stocks of AMC Entertainment (AMC) to $2 from $1.50 and on Cinemark (CNK) to $34 from $30, with neutral ratings. It continues to have a buy rating on Imax (IMAX) shares.Price: $1.90, Change: $+0.29, Percent Change: +17.70%

$AMC$AMZN$CNK$DIS$IMAX$PSKY$WBD

US Markets104d ago

Netflix Investors Disappointed With Unchanged Margin Outlook, MoffettNathanson Says as Shares Plunge

Netflix (NFLX) disappointed investors by maintaining its margin outlook even though its cost base apparently would have benefited from its decision to walk away from a deal to acquire Warner Bros. Discovery (WBD), MoffettNathanson said in a report on Friday.The streaming giant late Thursday posted first-quarter revenue above Wall Street's estimates. It maintained the full-year revenue guidance at $50.7 billion to $51.7 billion and an operating margin outlook at 31.5%.The FactSet-polled consensus is for $51.33 billion in 2026 sales.Netflix in February abandoned its plan to acquire Warner Bros., handing it over to Paramount Skydance (PSKY). Last quarter, the company pointed to $275 million in M&A expenses this year, which most saw as fully attributable to the then-pending Warner Bros. deal, MoffettNathanson Senior Research Analyst Robert Fishman wrote.However, after incorporating the acquisition of AI filmmaking technology company InterPositive and the pull forward of Warner Bros. deal costs, total M&A expenses remained largely unchanged, Fishman said. Netflix Chief Financial Officer Spencer Neumann made similar remarks on an earnings call Thursday.Netflix acquired InterPositive in March.Some on Wall Street, including UBS Securities, were pricing in an upgrade to the revenue outlook due to earlier-than-expected price increases. But the unchanged margin guidance came as a "bigger surprise" than Netflix reiterating its revenue guidance, Fishman said.The stock plunged nearly 10% in Friday trade.The company announced pricing changes for all its US plans in March, including a new $8.99 monthly subscription for the ad-supported standard tier.MoffettNathanson said Netflix's long-term trajectory remains intact."Sure, the absence of a raise to 2026 guidance likely caught some ahead of their skis on near-term margin expectations; yet, the M&A costs in the 2026 expense base only create an easier comp for next year," Fishman wrote.Price: $97.90, Change: $-9.90, Percent Change: -9.18%

$NFLX$PSKY$WBD

Wire106d ago

Warner Bros. Discovery, JioHotstar Bring HBO Max to India

Warner Bros. Discovery (WBD) and JioHotstar said Wednesday they have expanded their partnership to make JioHotstar the exclusive home for HBO Max in India.The HBO Max hub on JioHotstar features content from HBO, Max Originals, Warner Bros. Pictures, Warner Bros. Television and DC Studios, the companies said.Price: $27.29, Change: $-0.09, Percent Change: -0.31%

$WBD

Wire108d ago

Eastman Kodak Says VERITA 200D Film Available Across Multiple Formats

Eastman Kodak (KODK) said Monday that VERITA 200D 5206/7206, a new color negative motion picture film stock, is available in 65 millimeter, 35mm and 16mm formats.The company said the film was developed in collaboration with writer, director and producer Sam Levinson and cinematographer Marcell Rev to achieve a distinct visual aesthetic for the third season of Warner Bros. Discovery (WBD) HBO's drama series Euphoria.Kodak said the stock has also been selectively trade-tested by cinematographers worldwide over several years before its commercial release.Price: $11.85, Change: $-0.24, Percent Change: -1.99%

$KODK$WBD

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