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☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ The Fed will be the main event in the week ahead that includes a jobs report, more tech earnings
▼ + stars: | 2024-04-26 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

On top of that, the latest U.S. jobs market scorecard will be released along with more mega-cap earnings. This week, the U.S. 10-year Treasury yield briefly climbed above 4.7% for the first time since November. That's down sharply from the six or seven rate cuts investors were anticipating coming into the year. April jobs Investors will also get an update on the labor picture next week, with the release of the April nonfarm payrolls report set for Friday. Corporate earnings season will also ramp up in the week ahead with a slew of consumer-facing companies set to report.

Persons: Stocks, Powell, David Alcaly, Jerome Powell's, we've, they're, Brian Nick, Matt Stucky, it's, Stucky, Dow Jones, Nick, Archer, Eli Lilly, Kraft, Estee, Ingersoll Rand, Stanley Black, Decker, Hershey Organizations: Nasdaq, Google, Microsoft, Treasury, Lazard Asset Management, Macro, Northwestern Mutual Wealth Management Company, Fed, Apple, Micro Computer, Dallas Fed, Paramount, ON Semiconductor, Chicago PMI, Prudential Financial, Devices, Storage, Diamondback Energy, Caesars Entertainment, Corning, Daniels, Midland, Molson Coors Beverage, Marathon Petroleum, GE Healthcare Technologies, PayPal, ADP, P Global, Manufacturing, Oil, MGM Resorts International, Allstate, Etsy, eBay, Qualcomm, MetLife, First, Devon Energy, Cruise Line Holdings, Brands, Marriott International, Kraft Heinz, Pfizer, Companies, CVS Health, Generac, Mastercard, Labor, Nation Entertainment, Booking Holdings, Natural Resources, Motorola Solutions, Expedia, EOG, Coterra Energy, Dominion Energy, Howmet Aerospace, ConocoPhillips, Moderna, PMI, Services PMI Locations: U.S, Chicago, McDonald's, Albemarle, EOG Resources

☆ Paramount and Skydance inch closer to a merger as key hurdle looms
▼ + stars: | 2024-04-25 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Paramount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone. The entertainment company will be valued at around $5 billion and merged with Paramount Global, said the people, who asked not to be named because the discussions are private. Three of the people said that Paramount Global was slow to open a data room to the Skydance consortium, which has slightly pushed back the timeline on a deal. Skydance plans to name Ellison as CEO of Paramount Global and former NBCUniversal CEO Jeff Shell as the president, said two of the people. Spokespeople for Apollo, the Paramount Global special committee, Paramount Global, and Skydance's consortium declined to comment.

Persons: National Amusements Shari Redstone, Shari Redstone, David Ellison's Skydance, Ellison, Jeff Shell, Bob Bakish, hasn't, Spokespeople Organizations: National Amusements, Allen, Co, Sun, Paramount Global, Skydance, Paramount, KKR, RedBird Capital Partners, Sony, Apollo Locations: Sun Valley , Idaho

☆ E.W. Scripps exploring sale of Black-culture broadcast network Bounce TV
▼ + stars: | 2024-04-23 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Scripps , one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson. Symson declined to comment on the names of the bidders or the potential price for Bounce TV. He added a platform such as Bounce TV could also serve as a landing spot for a catalog of Black creators. Scripps officials began telling Bounce TV employees about the inbound interest on Tuesday, according to a person familiar with the communications. Bounce TV, which debuted in 2011, is a free over-the-air network that broadcasts a combination of syndicated shows, movies and original content.

Persons: Tanika Ray, Alyson Fouse, Kym Whitley, Yvette Nicole Brown, Tisha Campbell, Adam Symson, Symson, Scripps, they're, Johnson, Deji LaRay Organizations: London West Hollywood, Beverly, Scripps, Paramount Global, BET Media Group, CNBC, TV, BET Locations: Beverly Hills, West Hollywood , California, U.S

☆ Stocks making the biggest moves midday: Tesla, Verizon, Paramount, Coinbase and more
▼ + stars: | 2024-04-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Tesla , Li Auto — Tesla shares declined nearly 4%, hitting a 52-week low, following announcements of price cuts. Verizon reported $33 billion in revenue, slightly under the $33.32 billion figure penciled in by analysts, per FactSet. Informatica — The enterprise data management company tumbled nearly 9% after acquisition talks with Salesforce broke down. Salesforce shares inched higher by less than 1%. Riot Platforms — The bitcoin miner rallied 14% following the " halving" event , in which bitcoin mining rewards were cut in half.

Persons: Li Auto, Li, CNBC's David Faber, Salesforce, Crypto, Coinbase, MicroStrategy, UnitedHealth's OptumRx, Cardinal Health's, Zions, —, Jesse Pound, Samantha Subin, Michelle Fox, Alexander Harring Organizations: Tesla, Reuters, Li Auto, Verizon Communications, Verizon, Paramount Global, Sony, Informatica, JPMorgan, Health Locations: China

☆ TV and film jobs may never fully recover post-pandemic, strikes, says Teamsters president
▼ + stars: | 2024-04-19 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

Jobseekers interested in breaking into the film and television industry may have a harder time this year and even in the coming years. The summit covered the media's job landscape at large and how educators can create pathways for young people in it. It's part of Reel Works, an organization that offers an assortment of educational and training programs in the field for underserved youth. U.S. film studios will see a 14% year-over-year decline in content investment in 2024 as a result of the 2023 strikes and the changing film market post pandemic, according to analytics company Ampere Analysis. Ampere also found that the number of scripted TV releases in the US fell from 633 in 2022 and 2021 to 481 in 2023.

Persons: Jobseekers, Tommy O'Donnell, O'Donnell, John Gibson, Kwame Amoaku, David Haddad, Irene Phan, Ampere, we've Organizations: Theatrical Teamsters, Paramount Global, Works, Motion, Association, Haddad's Inc, MBS, CNBC, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Otis College of Art, City, Teamsters, International Alliance, Employees, Ampere, Ampere Analysis Locations: York, Greater Los Angeles, Los Angeles, City and County, New York, U.S

CNBC Pro screened for stocks that are already trending downward to determine which stocks might fall further. According to analysts' consensus price targets, these stocks have an estimated downside of 5% or more, and all have a market capitalization of at least $2 billion. Here are the stocks that are already in a correction and still disliked on Wall Street. Shares have slumped 21.5% since May 2023 and — based on analysts' consensus price target — are estimated to decline another 29.1%. Other stocks already in a correction and vulnerable to additional declines include Palantir Technologies , Dillard's , MGE Energy , GameStop and Advance Auto Parts .

Persons: CNBC's David Faber Organizations: Dow Jones, Nasdaq, CNBC Pro, Bank of, FactSet, Fed, Silicon Valley Bank, Regional Banking ETF, CBS, Paramount Global, Skydance Media, Paramount, Palantir Technologies, MGE Energy, GameStop, Advance Locations: Bank of Hawaii, Silicon, Bank

☆ Netflix forces Wall Street to focus on profit and revenue with decision to stop reporting subscriber numbers in 2025
▼ + stars: | 2024-04-18 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Netflix said Thursday it will no longer report quarterly membership numbers and average revenue per membership starting in the first quarter of 2025. It's also a signal Netflix's second wave of subscriber growth may be ending. Netflix shares fell 4% in after-hours trading, in part because of a weaker full-year revenue growth outlook than some analysts estimated. Netflix forecast revenue growth of 16% in the second quarter but just 13% to 15% for the full year. "In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential," Netflix said in its shareholder letter.

Persons: It's, haven't, Greg Peters Organizations: Netflix, ARM, Apple, Warner Bros, Disney, Paramount Global, Comcast, CNBC Locations: U.S

☆ Earnings season is here. These are the biggest storylines the market is watching.
▼ + stars: | 2024-04-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

JPMorgan CEO Jamie Dimon issued a warning in the bank's earnings report Friday. With so much at stake, here's an earnings season cheat sheet of when some of the biggest companies are reporting and the storylines to follow. Themes to watch: AI could reduce the number of junior bank employees thanks to the tech automating their grunt work . Themes to watch: Netflix was dubbed the king of streaming earlier this year after a big earnings report. The bank's earnings report beat analysts' expectations, but advisory revenues were down 21% year-over-year.

Persons: —, Donald Trump's, iStock, Rebecca Zisser, Jamie Dimon, Dimon, Michael M, Goldman Sachs, Blackstone, Will Meta, Bob Iger's, Brooks Kraft, Jeremy Barnum, it's, Jeff Currie, Justin Sullivan, Tesla, Elon Musk, Musk, Marco Bottigelli, Yevgen Romanenko, Tyler Le, Michelle Grisé, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, JPMorgan . Tech, JPMorgan, New York Stock Exchange, Finance Key Companies, Bank of America, Companies, Meta, Microsoft, Apple, Nvidia, Amazon, Retail, Walmart, Costco, Netflix, Disney, Paramount Global, Boeing, Brooks Kraft LLC, Getty, BI, Healthcare, RAND, Boston Marathon Locations: Israel, Russia, United States, New York, London, Chicago

☆ Skydance's unique offer for Paramount Global would give it a large stake while keeping the company public
▼ + stars: | 2024-04-05 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

The question for Paramount Global shareholders might be: Is it better than no deal at all? Paramount Global would continue to trade publicly. Spokespeople for Paramount Global and Skydance declined to comment. He would also potentially provide Paramount Global with access to artificial intelligence software and other data technology from Oracle. Paramount Global has a market capitalization of about $7.6 billion and had $14.6 billion in long-term debt at the end of 2023.

Persons: Skydance, Spokespeople, hasn't, David Ellison, Larry Ellison, Forrest Gump, it's Organizations: National, Paramount Pictures, Paramount Global, Paramount, RedBird Capital Partners, KKR, Oracle, Oracle . Paramount Global, CBS, Comedy Central, Nickelodeon, Viacom

☆ Paramount stock slumps on reports that Skydance merger would require company to raise new equity
▼ + stars: | 2024-04-04 | by ( Micah Washington | ) www.cnbc.com time to read: +1 min

Paramount Global 's stock slumped 8% on Thursday after CNBC's David Faber reported the company would need to raise as much as $3 billion in new equity if it were to merge with David Ellison's Skydance Media, according to sources familiar with the deal. This deal comes as media mogul Shari Redstone, the controlling shareholder of Paramount, is said to be in exclusive talks with Ellison on selling her stake to him, according to Bloomberg. Faber said Ellison and his partners would likely step up to provide a good amount of that equity, but it would be dilutive. Redstone is looking to sell Paramount, as the company has been in talks with Warner Bros Discovery on its acquisition. The MTV and CBS parent company has a market capitalization of nearly $10 billion and about $13 billion of net debt.

Persons: CNBC's David Faber, David Ellison's Skydance, Shari Redstone, Ellison, Faber Organizations: Paramount, David Ellison's Skydance Media, Bloomberg, Wall Street Journal, Apollo Global Management, Redstone, Warner Bros Discovery, MTV, CBS

☆ Paramount Global dips after report of talks to merge with Skydance
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailParamount Global dips after report of talks to merge with SkydanceCNBC's Alex Sherman joins 'The Exchange' to report on talks cited by the Wall Street Journal to merge Paramount and Skydance.

Persons: Skydance CNBC's Alex Sherman Organizations: Paramount, Wall Street

☆ Stocks making the biggest moves premarket: Intel, Tesla, Dave & Buster's, Paramount and more
▼ + stars: | 2024-04-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Intel — Shares fell more than 4% after the company disclosed a growing operating loss in its semiconductor manufacturing business. Tesla — The electric vehicle maker slipped roughly 1% after Guggenheim and Deutsche Bank slashed their price targets on the stock. The target cuts follow Tesla reporting much weaker-than-expected first-quarter delivery numbers . Dave & Buster's — Shares jumped 5% after the restaurant and entertainment chain increased its share repurchase authorization by $100 million, bringing the total available share repurchase authorization to $200 million. Ally Financial — Shares slipped 2% following a downgrade to underweight from neutral at Morgan Stanley.

Persons: Tesla, Buster's, Wells, Morgan Stanley, Richard Shane, Hakyung Kim, Brian Evans, Lisa Han, Jesse Pound Organizations: Intel —, Intel, Guggenheim, Deutsche Bank, Paramount, The New York Times, Cal, Maine Foods

☆ Meme-stock mania comes roaring back to leave Donald Trump's Truth Social owner TMTG worth more than Etsy or Hasbro
▼ + stars: | 2024-03-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Meme-stock fans have boosted Trump Media & Technology Group stock by nearly 80% this week. Truth Social's parent company is now valued at over $13 billion on a fully diluted basis. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeme-stock mania has boosted the value of Trump Media & Technology Group beyond Etsy, Hasbro, and Paramount Global — three S&P 500 companies worth nearly $8 billion each. Truth Social's parent company completed a SPAC merger on Monday, and began trading under the ticker DJT on Tuesday.

Persons: Ralph Lauren, Campbell Soup, — Organizations: Trump Media & Technology Group, American Airlines, Service, Trump Media & Technology, Hasbro, Paramount Global, Business

☆ Tuesday’s rapid fire: Kohl’s, On Holding, Southwest Airlines, 3M and Paramount Global
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTuesday’s rapid fire: Kohl’s, On Holding, Southwest Airlines, 3M and Paramount GlobalCNBC’s Jim Cramer on Tuesday reacted to earnings from Kohl’s and On Holding, as well as corporate updates from Southwest Airlines and 3M. He also weighed in on Paramount Global amid reported M&A interest.

Persons: Jim Cramer Organizations: Southwest Airlines, Paramount Global Locations: Holding, Kohl’s

☆ Jim Cramer's take on Kohl’s, On Holding, Southwest Airlines, 3M and Paramount Global
▼ + stars: | 2024-03-12 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Kohl's : Shares fell about 2% after the department store chain delivered a fourth-quarter earnings beat, but same-store sales declined more than expected. However, "if you own it, keep it," Jim Cramer suggested, referring to Kohl's stock. On Holding : Shares plunged 14% after the buzzy Swiss shoemaker's quarterly earnings missed estimates alongside a slightly softer-than-expected outlook. Paramount Global : Private equity firm Apollo Global Management has reached out to Paramount Global about a possible takeover or asset purchase, Axios reported Tuesday, citing two sources familiar with the matter. "If you're playing this for upside, you've got to remember we do not believe in mergers if we think the fundamentals are not good, and the fundamentals are not good" at Paramount Global, Cramer said.

Persons: Jim Cramer's, Jim Cramer, Cramer, Tom Kingsbury's, Bill Brown, Mike Roman, Roman, Brown, Axios, you've Organizations: CNBC, Club, Burlington Stores, Swiss, Southwest Airlines, Boeing, L3Harris Technologies, 3M, Paramount Global, Private, Apollo Global Management, CBS

☆ OpenAI announces 'improvements' to its governance structure nearly 5 months after Sam Altman's ouster
▼ + stars: | 2024-03-09 | by ( Erin Snodgrass | Lloyd Lee | ) www.businessinsider.com time to read: +4 min

OpenAI announced Friday that it was adding three women to its board of directors. CEO Sam Altman is also rejoining the board nearly five months after he was abruptly forced out. The company has pledged to improve its governing structure in the aftermath of the ouster and reinstatement. A Thursday report from The New York Times suggested OpenAI chief technology officer Mira Murati raised concerns about Altman's leadership with board members prior to his removal. The three women join current OpenAI board members Adam D'Angelo, Larry Summers, and Bret Taylor, as well as Altman.

Persons: OpenAI, Sam Altman, —, Altman, Mira Murati, Murati, James, Sue Desmond, Hellmann, Melinda Gates, Nicole Seligman, Fidij Simo, Desmond, Seligman, Simo, Adam D'Angelo, Larry Summers, Bret Taylor Organizations: Service, The New York Times, OpenAI, University of California, Times, Melinda Gates Foundation, Global, Sony, Pfizer, Advisors, Science, Technology, Paramount Global, Meira, Inc Locations: Los Angeles, President's, Shopify

☆ Sam Altman rejoins OpenAI board of directors as investigation into his ouster comes to a close
▼ + stars: | 2024-03-08 | by ( Hayden Field | ) www.cnbc.com time to read: +7 min

Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, on Jan. 18, 2024. OpenAI on Friday announced its new board and the wrap-up of an internal investigation by U.S. law firm WilmerHale into the events leading up to OpenAI CEO Sam Altman's ouster. Sam Altman will also rejoin OpenAI's board. "We have unanimously concluded that Sam and Greg are the right leaders for OpenAI," Bret Taylor, chair of OpenAI's board, said in a release. Since then, OpenAI has announced new board members, including former Salesforce co-CEO Bret Taylor and former Treasury Secretary Larry Summers.

Persons: Sam Altman, OpenAI, WilmerHale, Sam Altman's, OpenAI's, Sue Desmond, Hellmann, Melinda Gates, Nicole Seligman, Fidji Simo, Adam D'Angelo, Larry Summers, Bret Taylor, Greg, Sam, Taylor, Altman, Bret, Larry, Mira Murati, Mira, Helen Toner, Tasha McCauley, Ilya Sutskever, Ilya, Elon Musk, Greg Brockman, Musk, –, Toner, McCauley, Altman's Organizations: Economic, Friday, Melinda Gates Foundation, Pfizer, Advisors, Science, Technology, Global, Sony, Sony Entertainment, Paramount Global, Meira, Inc, Shopify, OpenAI, Microsoft, Fortune, Lawyers, CNBC, SpaceX, Nvidia Locations: Davos, Switzerland, President's, OpenAI's San Francisco, U.S, Saudi Aramco

☆ Stocks making the biggest moves premarket: Snowflake, Salesforce, C3.ai, Okta and more
▼ + stars: | 2024-02-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Snowflake said it expects product revenue to range between $745 million and $750 million in the current period, below the $759 million analysts polled by StreetAccount expected. Okta said its expects revenues to range between $603 million and $605 million, surpassing a FactSet estimate of $583.8 million. Celsius posted 17 cents in earnings per share on $347.4 million in revenue for the fourth quarter. Nutanix posted earnings of 46 cents per share on revenues totaling $565 million. The data storage company posted earnings of 50 cents per share on $790 million in revenue.

Persons: Frank Slootman, Snowflake, StreetAccount, Morgan Stanley, Salesforce — Salesforce, Okta, Duolingo, LSEG, Nutanix, —, Alex Harring, Tanaya Macheel, Michelle Fox, Lisa Han, Jesse Pound, Sarah Min, Pia Singh Organizations: Revenue, Bank of America, AMC, AMC Entertainment, Wall, Paramount, LSEG, CNBC Warner Bros, FactSet, HP — Locations: Canada, FactSet .

☆ 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

☆ Paramount falls short of revenue expectations but posts surprise profit, strong streaming results
▼ + stars: | 2024-02-28 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +3 min

Paramount Global missed revenue expectations for the fourth quarter on Wednesday but posted a surprise quarterly profit and posted strong results from its streaming platform Paramount+. Paramount — home to brands such as CBS, Showtime, BET, Nickelodeon and its namesake movie studio — reported a 6% year-over-year revenue decline but posted notable strides in its streaming segment. Paramount+, its flagship streaming service, reached 67.5 million subscribers during the period, a net increase of 4.1 million, and recorded 69% revenue growth year over year. Subscription revenue in the fourth quarter grew 43%, partially driven by price increases, and revenue across its entire direct-to-consumer segment grew 34%. Paramount saw a 27% jump in global viewing hours across Paramount+ and Pluto TV during the fourth quarter.

Persons: Bob Bakish, we've, CNBC's Alex Sherman Organizations: Paramount Global, Paramount, CBS, Showtime, BET, Nickelodeon, Warner Bros, Discovery, CNBC PRO Locations: LSEG

☆ Stocks making the biggest moves after hours: Salesforce, Snowflake, Okta, Duolingo and more
▼ + stars: | 2024-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

In the fourth quarter, the software company topped Wall Street's fourth-quarter expectations on the top and bottom lines. Snowflake — Snowflake shares plunged 20% after the business software company announced the retirement of its CEO Frank Slootman. The company topped earnings expectations by 12 cents and said it expects revenue for the current period to range between $603 million and $605 million. The company posted revenue of $13.19 billion, falling short of the $13.56 billion analysts polled by LSEG expected. Adjusted earnings per share came in at 5 cents and topped an LSEG estimate of 2 cents per share.

Persons: — Salesforce, Frank Slootman, Duolingo, Okta — Okta, LSEG Organizations: FactSet, Paramount Global, LSEG, Revenue, StreetAccount, HP Inc, AMC Entertainment

☆ Warner Bros. Discovery halts merger talks with Paramount Global, sources say
▼ + stars: | 2024-02-27 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Discovery David Zaslav speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Warner Bros. Warner Bros. Warner Bros. Paramount Global is also trading close to a 52-week low as it prepares to announce its earnings Wednesday.

Persons: David Zaslav, David Ellison, Byron Allen, isn't, Bob Bakish, Tom Rogers Organizations: Warner Bros, New York Times, Paramount Global, Skydance Media, Media, Comcast, CNBC, Paramount, Wall Street, Warner Bros . Discovery, Discovery Locations: New York City

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ 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

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