Month: August 2024

Media Stock Sale: Paramount and Warner Bros Discovery

Media firms that entered Netflix’s (NFLX) market paid a steep price. During the stay-at-home pandemic, they offered cheap subscriptions to lure Netflix customers to alternative services.That era is over.Paramount (PARA) said it would cut 15% of its U.S. workforce on August 8, 2024. This will save $500 million annualized and is part of the Skydance Media cost efficiency plan worth $2 billion in cuts. Skydance’s proposed buyout of PARA stock prevented the stock from falling below $10.00.Speculators may bet that Skydance’s buyout will close. It offered to buy Paramount for $2.4 billion in…

Stocks tick higher as traders look to build on last week’s comeback: Live updates – CNBC

Stocks tick higher as traders look to build on last week’s comeback: Live updates  CNBCInvestors Brace for Another Big Week in the Markets  The New York TimesPremarket: U.S. futures muted ahead of data-packed week with CPI in focus  The Globe and MailStock Market Today: Nasdaq, S&P Futures Edge Up; Yen, Bitcoin Weaken — Live Updates  The Wall Street JournalU.S. stock futures edge higher in lead up to data deluge  Reuters

Monday’s Stock Movers: Akamai, Intel, Insulet, and More

A week after Japan’s Black Monday moment re-introduced panic to the markets, Akamai (AKAM) may trend higher. Last Friday, the firm jumped by 10.9% after posting quarterly results.In Q2, Akamai earned $1.58 (non-GAAP) per share after revenue increased by 4.7% Y/Y to $980 million. Though its growth is not impressive, analysts remained positive. They maintained their price targets and outlook for the security firm. Demand for computing is also an upside driver for profit margins.After Moody’s Ratings downgraded Intel’s (INTC) debt, shares fell again below $20.00. Moody’s cut its rating for…