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☆ Stocks making the biggest moves midday: Expedia, Paramount Global, DraftKings, Block and more
▼ + stars: | 2023-11-03 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Expedia — Shares surged 17% during midday trading Friday, a day after the vacation booking platform delivered a stronger-than-expected earnings report for the third quarter. Analysts polled by LSEG forecasted earnings of $4.93 per share and $3.86 billion in revenue. Paramount Global — The media conglomerate stock climbed 12% after reporting a third-quarter earning s beat on the top and bottom line. On Thursday, the company reported an adjusted 30 cents per share on $7.13 billion in revenue, while analysts polled by LSEG forecast 10 cents and $7.10 billion. The company reported revenue of $285.9 million against estimates from analysts polled by FactSet of $275 million.

Persons: Expedia, Bill Holdings, KeyBanc, DraftKings, Carl Icahn, Insulet, Gartner, FactSet, —, Jesse Pound, Hakyung Kim, Alex Harring, Darla Mercado Organizations: LSEG, Apple, Paramount Global, Wall, FactSet, Revenue, Bank of America, Citi, JPMorgan Chase —, JPMorgan, Gartner, Lionsgate Entertainment, CNBC, Starz, Lionsgate Locations: CashApp

☆ Hasbro to sell film and TV unit, cuts forecast on Hollywood strike hit
▼ + stars: | 2023-08-03 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File photoAug 3 (Reuters) - Hasbro (HAS.O) lowered its annual revenue forecast on an expected hit from the ongoing strike by Hollywood writers and actors and said it would divest its film and TV business to focus on selling toys and games. Hasbro said it would sell its eOne film and TV studio to Lionsgate Entertainment by year-end for about $500 million, adding that its revenue forecast includes the performance of the business being sold. "With the sale of its eOne Film & TV business to Lionsgate, Hasbro is dodging a bullet in terms of the content pipeline. Hasbro also lowered its growth target for adjusted operating margin to between 20 basis points (bps) and 50 bps, from 50 bps to 70 bps rise forecast earlier. Reporting by Savyata Mishra and Granth Vanaik in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: FAO Schwarz, Andrew Kelly, James Zahn, Savyata Mishra, Granth, Vinay Dwivedi Organizations: Hasbro, Inc, Star, FAO, REUTERS, Hollywood, Lionsgate Entertainment, Lionsgate, WGA, SAG, Monopoly, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

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