Warner Bros. Discovery (WBD) reported its first quarterly report since the $43 billion merger as the company battles consolidation challenges. The media conglomerate swung to a $3.42 billion loss in the second quarter, partly due to obstacles related to its recent merger. The stock plummeted in after-hours trading, down as much as 9%. Here are Warner Bros. Discovery second quarter results compared to Wall Street’s consensus estimates, as compiled by Bloomberg: In total, the company said it… Source link
Read More »Warner Bros. Discovery expected to slash jobs, restructure HBO Max as earnings loom
Warner Bros. Discovery (WBD) has a lot of questions to answer ahead of its earnings report on Thursday. The three-month-old streaming conglomerate, which is set to report its first quarterly earnings since the $43 billion merger, plans to lay off 70% of its development business, according to The Wrap, which cited “multiple insiders.” The news has fueled speculation when it comes to the future of HBO Max with sources telling The Wrap that CEO David Zaslav, known for his cost-cutting leadership… Source link
Read More »Warner Bros. Discovery opens at $24.08 a share in public debut as newly formed company
Newly-formed streaming giant Warner Bros. Discovery (WBD) officially began trading on the Nasdaq (^IXIC) on Monday, opening at $24.08 a share in its first day as a publicly-traded entity. Ahead of the company’s Wall Street debut, Evercore ISI Group upgraded the stock from In-line to Outperform, announcing a $40 price target. The $43 billion merger, which closed on Friday, solidifies Discovery CEO David Zaslav’s position as the company’s new chief. WarnerMedia CEO Jason Kilar departed upon the… Source link
Read More »Why Warner Bros. Discovery merger is the ‘most exciting story’ in streaming: Analyst
All eyes are on AT&T’s (T) WarnerMedia spinoff with Discovery (DISCA). “This is going to be the most exciting story in the sector for the next few years,” Jessica Reif, research analyst at Bank of America, confidently told Yahoo Finance. The telecom giant revealed it will issue a special dividend to shareholders on April 5 when they can decide whether to own just AT&T, the soon-to-be Warner Bros. Discovery, or both. AT&T’s WarnerMedia will represent 71% of Warner Bros. Discover, and its… Source link
Read More »Sen. Warner: It's not 'progressive at all' to give stimulus checks to the employed, if it costs the jobless – Yahoo Finance
TipRanks 3 “Strong Buy” Stocks That Are Still Undervalued After a year that most of us want to forget, 2021 is shaping up to start with stability and an even keel. The election is safely behind us, the new Biden Administration promises a ‘no drama’ approach, a closely divided and hyper-partisan Congress is unlikely to enact any sweeping legislation, reform or otherwise, and COVID vaccines are ready for distribution. It’s a recipe for a calm news cycle.Which makes it a perfect time to… Source link
Read More »Why Warner Bros’ bombshell HBO Max announcement doesn’t mean movie theaters are ‘dead’: Analyst
TipRanks Billionaire Ray Dalio Picks Up These 3 “Strong Buy” Stocks Sometimes, the experts will tell us what we already know. Ray Dalio, the founder of Bridgewater Associates, has built a legendary reputation in financial circles, for taking his firm from a home business in his two-bedroom apartment to the international hedge fund giant, employing over 1,500 people and managing more than $138 billion in total assets. But when questioned on how he did it, or how today’s investors can… Source link
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