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☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ Stocks making the biggest moves midday: Tesla, Roku, Apple, SoFi, Domino's and more
▼ + stars: | 2024-04-29 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

SoFi Technologies — The consumer fintech company's stock price plunged about 10% on disappointing second-quarter earnings guidance. AT & T — The telecommunications stock popped 2.8% after Barclays upgraded AT & T to overweight from equal weight, citing a "mismatch" between the company's valuation and its growth prospects. Apple — Shares rose more than 3% after Bernstein upgraded the tech stock to outperform from market perform. Dave — Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating. Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating.

Persons: FactSet, Tesla, Domino's, LSEG, Roku, David Joyce, Bernstein, Toni Sacconaghi, Dave —, Dave, AMC preannounced, Bob Bakish, —, Sarah Min, Tanaya Macheel, Yun Li, Lisa Kailai Han, Michelle Fox Organizations: Technologies, Elon, Sunday, U.S, Philips —, Philips, Barclays, Seaport Research Partners, Apple, Airlines —, Jeffries, AMC Entertainment Holdings, AMC, Paramount Locations: China, U.S

☆ Stocks making the biggest moves midday: Chemours, Snowflake, Hormel, C3.ai and more
▼ + stars: | 2024-02-29 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

It posted earnings of 41 cents per share, excluding items, on revenue of $3 billion. Analysts polled by FactSet had called for earnings of 34 cents per share on $2.91 billion in revenue. C3.ai — The artificial intelligence software stock advanced more than 24% after C3.ai posted a narrower-than-expected adjusted loss per share of 13 cents. Pure Storage — Shares jumped more than 22% after the data storage company posted stronger-than-expected fourth-quarter earnings and upbeat first-quarter guidance. However, fourth-quarter revenue of $1.1 billion did top LSEG estimates of $1.05 billion.

Persons: FactSet, Morgan Stanley, Chemours, —, Birkenstock, Snowflake, Frank Slootman, LSEG, Duolingo, Alex Harring, Yun Li, Michelle Fox Theobald Organizations: Beverage, RBC, Bank of America Securities, Bank of America, Paramount, AMC Entertainment

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Reddit reportedly seeks to launch IPO in March
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: +3 min

Social media platform Reddit has drawn up detailed plans to launch its initial public offering (IPO) in March, moving forward with a listing it has been eyeing for more than three years, according to people familiar with the matter. The offering would also test the willingness of some Reddit users to back the company's stock market debut. Reddit, which filed confidentially for its IPO in December 2021, is planning to make its public filing in late February, launch its roadshow in early March, and complete the IPO by the end of March, two of the sources said. It will decide on what IPO valuation it will pursue closer to the time of the listing, according to the sources. The company held back from pulling the IPO trigger until it came closer to profitability.

Persons: Steve Huffman, Alexis Ohanian, Reddit, Huffman Organizations: Facebook, GameStop, AMC Entertainment Holdings Locations: San Francisco

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

KANSAS CITY, Mo. (AP) — Travis Kelce has long prided himself on his ability to compartmentalize his personal life and his professional life. Ever since the All-Pro tight end's budding relationship with pop superstar Taylor Swift surfaced shortly before the Kansas City Chiefs' game against the Chicago Bears last month, Kelce has become an A-list headline-maker in his own right. Asked whether Kelce was surprised by the sudden interest in him, and his relationship with Swift, he replied: “It’s worldwide, man — worldwide. It’s been magnified for sure.”All the while, Kelce has been trying to help the Chiefs defend their Super Bowl title.

Persons: — Travis Kelce, Taylor Swift, Kelce, ” Kelce, You've, Kelce didn't, Swift, Donna Kelce, Jason Kelce, “, They've, ”, he's, Patrick Mahomes, Klay Thompson, Stephen Curry, “ I've, I've Organizations: KANSAS CITY, Kansas City Chiefs, Chicago Bears, Chiefs, Jets, Philadelphia Eagles, Farm, Hy, Vee, Pfizer, Experian, AMC Entertainment Holdings, NFL, Super, “, Lions, Pro Bowl, AFC West Locations: KANSAS, Mo, New York, Kansas City, ”, Detroit, Minnesota

☆ National Cinema is back on August 27 with $4 movie tickets
▼ + stars: | 2023-08-27 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +1 min

Sunday is the second annual National Cinema Day. At more than 3,000 participating theaters across the country the price of a movie ticket is just $4. National Cinema Day could give the theater business a boost. Last year’s Cinema Day, when tickets were only $3, drew 8 million participants and raked in $23.8 million at the box office, a 103% jump from the day before. The Cinema Foundation, the non-profit spearheading the initiative, says Cinema Day propelled long-term theater attendance.

Persons: Barbie ”, “ Barbie, ” “ Oppenheimer, ”, Barbie Organizations: New, New York CNN, National Association of Theatre Owners, AMC, AMC Entertainment Holdings Inc, Hollywood, Cinema Foundation, Warner Bros . Locations: New York

☆ AMC Entertainment to effect 10:1 reverse split on Aug. 24
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Mario AnzuoniAug 14 (Reuters) - AMC Entertainment Holdings (AMC.N) said on Monday its 10-to-1 reverse stock split will take place on Aug. 24 and its preferred shares "APE" will be converted to common stock on Aug. 25. The common shares of the theatre chain operator fell 38% to $3.25 in premarket trading, while its preferred shares rose 18% to $2.09. AMC aims to increase its Class A common stock to 550 million from about 524 million, it said in a regulatory filing. The company would make a settlement payment of one Class A common stock for every 7.5 Class A shares to the entitled shareholders after the reverse stock split. AMC was sued in February for allegedly rigging a shareholder vote that would allow it to convert preferred stock to common stock and issue hundreds of millions of new shares.

Persons: Mario Anzuoni, Chavi Mehta, Arun Koyyur Organizations: AMC, REUTERS, AMC Entertainment Holdings, Thomson Locations: Burbank , California, U.S, Delaware, Bengaluru

The ruling sent the shares of the company's preferred stock soaring 27%. The company's common stock fell 27%. Under the approved class action settlement, AMC will provide stock worth an estimated $129 million to holders of its common stock to settle potential legal claims related to a stock conversion plan. Without the proposed settlement, common stockholders and preferred shareholders would end up owning 34.28% and 65.72% of AMC, respectively. Under the proposed settlement, common stockholders and preferred shareholders would own 37.15% and 62.85%, respectively.

Persons: Brendan McDermid, Chancellor Morgan Zurn, Zurn, Tom Hals, Deepa Babington Organizations: AMC Theatre, REUTERS, AMC Entertainment Holdings, AMC, Delaware, AMC Entertainment Holdings Inc, Chancery, Thomson Locations: New York City, U.S, WILMINGTON , Delaware, Delaware, Wilmington , Delaware

☆ AMC sees 'explosive start' to third quarter on 'Barbenheimer' frenzy
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Times Square characters who pose for photos for money walk past an AMC theatre in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoAug 8 (Reuters) - Movie theater chain AMC Entertainment Holdings (AMC.N) said the current quarter was off to a strong start driven by box-office hits such as "Barbie" and "Oppenheimer", after beating second-quarter revenue estimates on Tuesday. AMC's second-quarter revenue rose 15.6% to $1.35 billion, compared with analysts' estimates of $1.29 billion, according to Refinitiv data. The company reported a profit of 1 cent per share, compared with a loss of 12 cents per share, a year earlier. "AMC's glide path to eventual recovery continued with significant pace in the second quarter of 2023 as our results set new records and represent AMC's strongest second quarter in four full years," Aron said.

Persons: Carlo Allegri, Barbie, Oppenheimer, Adam Aron, AMC's, Aron, Samrhitha, Shounak Dasgupta Organizations: AMC, REUTERS, AMC Entertainment Holdings, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

☆ Bearish traders swarm AMC options as stock conversion plan faces doubts
▼ + stars: | 2023-07-28 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

NEW YORK, July 28 (Reuters) - Shares of AMC Entertainment Holdings Inc (AMC.N) have been hit by a wave of bearish options bets amid uncertainty over the company's stock conversion plan. While the common shares finished Thursday at $4.52, the APE preferred shares ended the session at $1.86. The move sent AMC’s shares higher, disappointing bearish traders who expected news of a conversion to tank the price. Still, options traders appear to be powering on with their bearish wagers, in effect betting the conversion will eventually go through. On Thursday, AMC shares finished down 10%, while APE shares rose 6%.

Persons: Steve Sosnick, Brent Kochuba, Garrett DeSimone, Saqib Iqbal Ahmed, Ira Iosebashvili, Diane Craft Organizations: YORK, AMC Entertainment Holdings Inc, AMC, Trade, Reuters, New York Stock Exchange, Interactive Brokers, Thomson Locations: Ortex, OptionMetrics

☆ Meme stock AMC jumps as investors cheer stock conversion plan halt
▼ + stars: | 2023-07-24 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

July 24 (Reuters) - Shares of retail traders' favorite AMC Entertainment Holdings (AMC.N) soared on Monday after a U.S. court blocked the theater chain's stock conversion plan that risked diluting investors' holdings. AMC had told investors it was burning cash at an unsustainable rate and warned that an inability to raise capital could force it into bankruptcy. The company has filed a revised petition for the stock conversion plan addressing the Delaware court's concerns, CEO Adam Aron said on Sunday. The highly shorted AMC common shares were the most traded U.S. stocks at 9:41 a.m. "Trying to short AMC during a short squeeze is about as smart as burning money," said Matthew Tuttle, chief executive offier at Tuttle Capital Management, adding that there is "not much juice left in the squeeze."

Persons: Adam Aron, Thomas Hayes, Oppenheimer, Ortex, Matthew Tuttle, offier, Tuttle, Medha Singh, Krishna Chandra Eluri Organizations: AMC Entertainment Holdings, AMC, Great, Great Hill Capital, Tuttle Capital Management, GameStop, Koss Corp, Thomson Locations: Delaware, Great Hill, New York, Bengaluru

☆ AMC shares jump as stock conversion plan halted, preferred shares slide
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

July 24 (Reuters) - Meme stock AMC Entertainment Holdings (AMC.N) soared in premarket trading on Monday after a judge blocked the theater chain's stock conversion plan that risked diluting investors' holdings in the company. The highly shorted AMC common shares were the most traded across all stocks trading before the opening bell at 05:58 a.m. Preferred shares "APE" fell 2.8% to $1.75. AMC investors had sued the company in February, alleging a plan to convert preferred stock to common stock was enacted to circumvent the will of common stock holders who opposed the issuing of new shares. The company filed a revised petition for a stock conversion plan addressing the Delaware court's concerns over other shareholders, CEO Adam Aron said on Sunday.

Persons: Adam Aron, Oppenheimer, Medha Singh, Krishna Chandra Organizations: AMC Entertainment Holdings, AMC, GameStop, Koss, Thomson Locations: Delaware, United States, Canada, Bengaluru

Companies AMC Entertainment Holdings Inc FollowJuly 23 (Reuters) - AMC Entertainment's (AMC.N) chief executive officer on Sunday said the company filed a revised petition for a stock conversion plan that would allow the company to issue more shares. Aaron also mentioned that in a March 14 special election a majority of the AMC common shareholders and preferred shareholders supported his views on the stock conversion. Delaware Vice Chancellor Morgan Zurn on Friday denied approval as the deal would also settle potential claims by preferred shareholders who were not represented in the lawsuit. The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares. The settlement's backers want Zurn to weigh the new version of the deal without seeking additional comment from AMC shareholders, according to a Bloomberg news report.

Persons: Adam Aaron, Aaron, Chancellor Morgan Zurn, Shubhendu Deshmukh, Chris Reese Organizations: AMC Entertainment Holdings, AMC, Sunday, Delaware Court, Delaware, Bloomberg, Thomson Locations: Delaware, Bengaluru

Companies AMC Entertainment Holdings Inc FollowJuly 21 (Reuters) - A judge on Friday blocked a proposed settlement on AMC Entertainment Holdings' (AMC.N) stock conversion plan that would allow the company to issue more shares, sending its common shares soaring and preferred shares down in after-hours trading. AMC shares were up 69% at $7.44 in trading after the bell. The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares. Without the proposed settlement, common stockholders and preferred shareholders would end up owning 34.28% and 65.72% of AMC, respectively. While the deal would compensate common stock holders for the dilution, they had no right to settle potential claims by holders of preferred stock, Zurn wrote on Friday.

Persons: Chancellor Morgan Zurn, Zurn, Jody Godoy, Franklin Paul, Deepa Babington, Chris Reese Organizations: AMC Entertainment Holdings, Delaware, AMC, AMC Entertainment Holdings Inc, Thomson Locations: Delaware

☆ Judge denies approval of AMC shareholder settlement
▼ + stars: | 2023-07-21 | by ( ) edition.cnn.com time to read: +1 min

A judge on Friday blocked a proposed settlement on AMC Entertainment Holdings’ stock conversion plan that would allow the company to issue more shares, sending its common shares soaring and preferred shares down in after-hours trading. AMC shares were up 69% at $7.44 in trading after the bell. Its preferred shares were down 20% at $1.43. The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares. The conversion would dilute the common stockholders’ ownership, but allow AMC to pay down some of its $5.1 billion in debt.

Persons: Chancellor Morgan Zurn, Zurn, “, ” Organizations: AMC Entertainment Holdings, Delaware, AMC

July 11 (Reuters) - A U.S. judge on Tuesday dismissed a lawsuit in which the founder of WallStreetBets, which helped ignite investors' fascination with "meme" stocks, accused Reddit of wrongly banning him from moderating the community and usurping his trademark rights. Rogozinski had applied to trademark "WallStreetBets" in March 2020, when the community reached 1 million subscribers. Meme stocks gain popularity through discussions, often among inexperienced investors, in online forums including Twitter. Prominent meme stocks have included AMC Entertainment Holdings (AMC.N), GameStop (GME.N), Koss (KOSS.O) and the now-bankrupt Bed Bath & Beyond (BBBYQ.PK). The case is Rogozinski v Reddit Inc, U.S. District Court, Northern District of California, No.

Persons: Reddit, Jaime Rogozinski, Rogozinski, Maxine Chesney, Rogozinski's, Chesney, today's, James Lawrence, subreddit, Jonathan Stempel, David Gregorio Our Organizations: WallStreetBets, Twitter, AMC Entertainment Holdings, GameStop, Reddit Inc, Court, Northern District of, Thomson Locations: U.S, San Francisco, Northern District, Northern District of California, New York

The deal would provide holders of AMC common stock with shares worth an estimated $129 million to resolve allegations the company rigged a shareholder vote against them. More than 2,800 people objected to the settlement, which requires approval by Delaware Vice Chancellor Morgan Zurn to move forward. Rose Izzo, a Delaware resident who first invested in AMC in 2021, objected to the deal. The company's answer was to create preferred stock, which has traded at a steep discount to AMC's common stock. In February, AMC proposed a vote that would allow it to convert preferred stock to common stock and issue hundreds of millions of new shares.

Persons: Chancellor Morgan Zurn, Rose Izzo, Theodore Kittila, Mark Lebovitch, Lebovitch, Jody Godoy, Matthew Lewis Organizations: AMC Entertainment Holdings, AMC, Delaware, GameStop, AMC Entertainment Holdings Inc, Thomson Locations: Delaware, Pennsylvania, New York

☆ At Cannes, independent film firms optimistic as streamers stumble
▼ + stars: | 2023-05-17 | by ( Miranda Murray | Thomson Reuters | Speed Editor On The Berlin Hub Who Provides General Coverage On Everything Politics To Energy In Germany | ) www.reuters.com time to read: +4 min

CANNES, May 17 (Reuters) - Independent film companies facing a market upended by the entry of streaming services are showing some optimism heading into this year's Cannes Film Festival as the Netflix era has begun flattening out and audiences start trickling back into cinemas post-pandemic. Cannes may make headlines for its glitz and glamour, but as the world's largest event for buying and selling movie rights, its importance to the industry is unparalleled. "It's a transitional time on the business side as the traditional business model that independent buyers use sees lessened value," said O'Shea. The similarity among much of the content offered on streaming platforms leaves theatre audiences wanting something different, an unmet appetite that independent companies could fulfil, he said. "Something good is happening, and I'm sure other streaming services will follow suit," Cannes Film Festival director Thierry Fremaux said in an interview with Le Film francais magazine in April.

☆ AMC earnings a hit on Wall Street as 'Ant-Man' attracts more moviegoers
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

May 5 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) beat Wall Street estimates for first-quarter revenue on Friday, as a string of hit films including the latest installment of Marvel's "Ant-Man" drove more moviegoers to theaters. Shares of the Leawood, Kansas-based company, which operates over 900 theaters globally, rose nearly 4% in trading before the bell. AMC has been trying different combinations to attract audiences to its theaters, including options where moviegoers can choose different seating options to meet their viewing preferences. Revenue for the quarter was $954.4 million, compared with analysts' expectation of $948.5 million, according to Refinitiv IBES data. Reporting by Tiyashi Datta and Yamini Kalia in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ He Was a Quant at Citadel. Now He Agitates for GameStop Investors.
▼ + stars: | 2023-04-28 | by ( Alexander Osipovich | ) www.wsj.com time to read: 1 min

Dave Lauer was once a quant at hedge fund Citadel. Now he is a thorn in the side of Wall Street in a battle over how individual investors’ trades are handled in the U.S. stock market. Mr. Lauer is the co-founder of We the Investors, an advocacy group that draws much of its energy from apes—investors active on social media who tend to favor meme stocks such as GameStop Corp. and AMC Entertainment Holdings Inc.

☆ Storm clouds gather over highly indebted companies, Moody's says
▼ + stars: | 2023-04-19 | by ( Matt Tracy | ) www.reuters.com time to read: +3 min

Private equity-owned companies make up nearly three-quarters of Moody's list. In addition to higher interest payments, Moody's noted, many of the downgraded companies have fewer funding paths to staying afloat. Sixteen of the 30 companies that fell off Moody's at-risk list last quarter did so through defaults, not improved financial outlooks. As defaults rise, distressed debt exchanges will be the route of choice for many companies and their private equity owners, Moody's noted. Of the other companies that fell off Moody's list last quarter, seven opted instead to file for bankruptcy.

☆ Theater advertiser National CineMedia files for bankruptcy protection
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

April 11 (Reuters) - National CineMedia Inc (NCMI.O), the biggest movie-theater advertising business in North America, said on Tuesday it filed for bankruptcy protection and had entered into a restructuring agreement with its lenders. This adds to the growing list of challenges facing the cinema industry, which has been hit hard by the pandemic and a lack of major film releases, and follows a similar move by Cineworld, which filed for U.S. bankruptcy protection in September. In an effort to de-leverage its balance sheet, NCM said it entered into an agreement with its secured lenders to convert its debt into equity. The company will receive an ownership interest of about 14% in the restructured entity, it said. The company expects to report a 44.4% increase in revenue to $91.7 million for the fourth quarter.

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