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At the Milken Institute’s Global Conference this week, a little-known risky financial tool became the subject of a hot debate among Wall Street titans. Many private equity firms have quietly begun mortgaging their investment funds, piling leverage upon leverage. In other words, they’re taking out loans against the businesses they’ve already taken out loans to buy. At a time when dealmakers are desperate to raise new cash after the boom of the pandemic era, this mechanism — known as a net asset value loan — is allowing them to do it overnight. firms are using the tool as they set out to raise their next funds, especially those confronting a hurdle during a slow period for dealmaking: They have yet to return cash to the limited partners they tapped for their last round.

Organizations: Milken Institute’s Global Conference, Wall Street titans

The “stretched” consumerBetter than expected quarterly earnings have helped propel the S&P 500 to within a whisker of a record high on Friday. But Wall Street and Washington are closely monitoring another worrying economic indicator: the struggling consumer. The split-screen view of the economy is becoming clearer as earnings season draws to a close. Mass-market brands, like the fast-food companies McDonald’s, KFC and Starbucks, have reported that a lot of customers are pulling back on spending as high inflation bites. This is “an economy of the haves and have-nots,” Michael Reid, an economist for RBC Capital Markets, told DealBook.

Persons: Biden, ” Michael Reid, DealBook Organizations: KFC, Starbucks, RBC Capital Markets Locations: Washington

The bank's price target implies more than 35% upside. Citi also increased its price target to $47 per share from $38, which implies more than 30% upside from Thursday's $36.06 close. The firm upgraded shares of the drive-through coffee company to buy from hold and raised its target price to $46 per share from $33. Dutch Bros stock has ticked up roughly 4% in 2024, lagging the broader market. The firm upgraded the conglomerate to buy and raises its price target to $115 per share from $91.13.

Persons: abate, Jon Tower, Brian Evans, TD Cowen, Cowen, Andrew M, Charles said, — Brian Evans, Chris O'Cull, Wesley Brooks, Brooks, Brandon Nispel, Nispel, Fred Imbert Organizations: CNBC, Warner Bros, Discovery, HSBC, Citi, Cheesecake, Bros, MMM

☆ A key sign of strength in Warner Bros. Discovery's latest earnings report would take a massive hit if TNT loses the NBA
▼ + stars: | 2024-05-10 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

And while WBD's $0.40-per-share loss was 4 cents better than last year, it was still lower than analysts had hoped for. Warners added about 2 million net streaming subscribers globally in the first quarter, bringing its total to 99.6 million. There's a simple explanation for WBD's streaming ad growth despite modest subscriber additions: the advent of live sports on Max. As impressive as WBD's burgeoning streaming ad business looks now, it may be nothing more than a blip if Comcast's NBC outbids TNT for NBA media rights in the league's next TV deal. Suddenly, it seems like Zaslav is taking an even bigger risk by playing hardball with the NBA.

Persons: Discovery's, David Zaslav, Max, Warners, WBD, it's Organizations: Warner Bros, Business, NBA, Warners, Max, MLB, NHL, NBC, TNT, Media, UBS, hardball

☆ Sports gambling is taking a cue from Wall Street, and it could be a problem for sportsbooks
▼ + stars: | 2024-05-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how a sports bettor trying to hedge a $1.7 million payout shows the gambling world is taking a page out of Wall Street's book . The big storySports gambling goes Wall StreetiStock; Rebecca Zisser/BIHow would you like to turn $100 into $1.7 million in a little over a year? Thanks to a secondary market for gambling tickets, Shelton could sell his ticket to another bettor. And not unlike Wall Street's feelings about retail traders, Shelton is the type of gambler sportsbooks love. Unlike mom-and-pop gamblers who often bet on a whim, so-called sharps' systematic approach to gambling can pose a problem for sportsbooks.

Persons: —, Rebecca Zisser, Wayne Shelton, Shelton, Matthew Fox, Anthony Edwards, Joshua Gateley, sportsbooks, Shelton's longshot, Goldman Sachs, Sam Bankman, Fried, Puck, SBF, Justin Sullivan, Getty Sundar Pichai, Pichai, Jack Dorsey, he'd, Mike Solana, Dorsey, Bluesky, Demis, Microsoft's Mustafa Suleyman, they'd, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Sports, MLB, NFL, NBA, Oklahoma City Thunder, Thunder, Dallas Mavericks, Western Conference, ESPN, Boston Celtics, Minnesota Timberwolves, Getty, Detention, MDC, Bloomberg, Bay Area, YouTube, Spotify, Apple, Warner Brothers, Justice League, Big, Honda Locations: China, Russia, Brooklyn's, Young, New York City, New York, Bay, London

☆ Here are Friday's biggest analyst calls of the day: Nvidia, Tesla, Apple, 3M, Bumble, Nike, Walmart, Palantir & more
▼ + stars: | 2024-05-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wedbush reiterates Apple as outperform Wedbush said it's standing by its outperform rating on shares of Apple . Bank of America reiterates Palantir as buy Bank of America said it's standing by its buy rating on shares of Palantir. Bank of America initiates Apogee Therapeutics at buy Bank of America said the biotech company has best-in-class potential. Bank of America upgrades Bumble to buy from neutral Bank of America sees "multiple expansion" for the dating app company. Bank of America reiterates Walmart as buy Bank of America said it's bullish heading into Walmart earnings on May 16.

Persons: Bernstein, Wedbush, Palantir, Wells, CRNC, Stifel, TD Cowen, Morgan Stanley, Raymond James, it's, Bumble, Lear, Tesla, Oppenheimer, Guggenheim Organizations: Nvidia, Citi, Cheesecake, Apple, Worldwide, " Bank of America, Bank of America, Mizuho, Apogee Therapeutics, Warner Brothers Discovery, HSBC, TPG, of America, Dominion, underperform Bank of America, Dominion Energy, Barclays, Nike, Walmart, Supercenters, Moffett Locations: WWDC, Palantir, OW, U.S

☆ Stocks making the biggest premarket moves: Planet Fitness, Warner Bros Discovery, Yeti, Airbnb and more
▼ + stars: | 2024-05-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Quarterly revenue was $248 million, versus the $249.5 million expected from analysts polled by FactSet. Klaviyo guided for second-quarter revenue of $211 million to $213 million, higher than the $210 million expected from analysts polled by LSEG. AppLovin reported earnings per share of 67 cents, versus the 57 cents expected from analysts polled by LSEG. Bumble reported earnings per share of 19 cents, versus the 7 cents expected from analysts polled by FactSet. Adjusted earnings per share were 7 cents, versus the 6 cents expected.

Persons: Revenue, Klaviyo, AppLovin, AMC's, Duolingo, LSEG . Bumble —, Bumble, Warby Parker, Warby, Roblox, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin Organizations: FactSet, Warner Bros, LSEG, postmarket, Revenue, AMC, FactSet . Revenue, Wall Locations: British

☆ Stock market today: Indexes mixed as jobless claims jump to highest since August
▼ + stars: | 2024-05-09 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Initial claims climbed to 231,000 last week, marking the highest level since August. A handful of disappointing earnings results have come at the tail end of an otherwise upbeat season. AdvertisementMajor stock indexes were mixed on Thursday as traders mulled a fresh job report that showed the labor market cooling. A handful of disappointing earnings reports have capped off what's otherwise been a fairly upbeat earnings season. Markets will be tuned into more Fed speakers Thursday and Friday.

Persons: Stocks, —, Mary Daly, Michelle Bowman Organizations: Service, Federal Reserve, Treasury, Labor Department, Dow Jones, Warner Bros, San Francisco Fed, Dow, Nasdaq Locations: Here's

☆ Three-Stock Lunch: Warner Bros. Discovery, Roblox & Planet Fitness
▼ + stars: | 2024-05-09 | 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 EmailThree-Stock Lunch: Warner Bros. Discovery, Roblox & Planet FitnessBrian Vendig, MJP Wealth Advisors president, joins 'Power Lunch' to discuss stock plays for three stocks, including Warner Bros. Discovery, Roblox, and Planet Fitness.

Persons: Brian Vendig Organizations: Warner Bros, MJP

☆ ESPN, League One Volleyball sign media deal for inaugural pro season
▼ + stars: | 2024-05-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

ESPN and League One Volleyball have reached a multi-year media rights deal, starting with the league's inaugural professional volleyball season, LOVB announced Thursday. ESPN will air 10 LOVB Pro matches across its linear networks and 18 matches on ESPN+ as part of the first season, which begins in January. LOVB operates 47 youth volleyball clubs in 22 states across the U.S. with more than 1,200 youth teams. Spaulding told CNBC in an interview the introduction of a professional league makes the business a "true youth-to-pro ecosystem." LOVB Pro matches will also be available on ESPN platforms in select countries and territories such as Canada, the Caribbean, Latin America, Sub-Saharan Africa, Australia and New Zealand.

Persons: LOVB, Daniel Margulis, ESPN's, It's, LOVB's, Rosie Spaulding, Spaulding Organizations: ESPN, League, Disney, Fox Corp, Warner Bros, CNBC Locations: Austin , TX, Atlanta, Austin , Texas, Houston, Madison , Wisconsin, Omaha , Nebraska, Salt Lake City, American, Canada, Caribbean, Latin America, Saharan Africa, Australia, New Zealand

☆ ‘Lord of the Rings’ franchise has a new movie coming in 2026
▼ + stars: | 2024-05-09 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —The Oscar-winning team behind the nearly $6 billion blockbuster “Lord of the Rings” and “The Hobbit” trilogies is reuniting to produce two new films. The first of the new projects from Sir Peter Jackson, Fran Walsh and Philippa Boyens is tentatively titled “Lord of the Rings: The Hunt for Gollum,” Warner Bros. Walsh and Boyens have been tapped to write the screenplay, along with Phoebe Gittins and Arty Papageorgiou. Warner Bros. is owned by CNN’s parent company. Jackson made history with “The Lord of the Rings” trilogy, becoming the first person to direct three major feature films simultaneously.

Persons: Sir Peter Jackson, Fran Walsh, Philippa Boyens, Gollum, ” Warner, “, Andy Serkis, Walsh, Boyens, Phoebe Gittins, “ Yesssss, ” Serkis, ”, Peter, Fran, Philippa, ” Jackson, Tolkien’s, Mike De Luca, Pam Abdy, Jackson, King ”, Serkis, Jackson’s Organizations: CNN, ” Warner Bros . Discovery, Warner Bros, Warner Bros . Pictures, Globes

☆ Why a failed video game cost Warner Brothers $200 million
▼ + stars: | 2024-05-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Discovery reported a $200 million loss on the game "Suicide Squad: Kill the Justice League." It's a reminder of how similar the video game business is to Hollywood: big expenses, big rewards, big penalties for missing. AdvertisementDid you play "Suicide Squad: Kill the Justice League," the video game that came out in February? Discovery, which released the game, is that very few people did, and the ones who did really didn't like it. And that led the company to take a staggering $200 million loss on the game, which it disclosed in its first-quarter earnings Thursday.

Persons: — Organizations: Warner Bros, Discovery, Justice League, Big, Service, Business Locations: Hollywood

Splitting the Paramount empireEver since Sony Pictures Entertainment and Apollo Global Management expressed interest in buying Paramount Global, a big question has loomed over the potential $26 billion deal: What would they do with the company? The answer: Break it up, write The Times’s Ben Mullin and DealBook’s Lauren Hirsch. Sony and Apollo would keep Paramount Pictures. Paramount Pictures would become part of a joint venture controlled by Sony, with Apollo taking a minority stake in the new entity that it could eventually sell to Sony or to another buyer. The venture would also keep Paramount’s library of films and TV shows, as well as the rights to characters like the Teenage Mutant Ninja Turtles.

Persons: Ben Mullin, DealBook’s Lauren Hirsch, “ Organizations: Sony Pictures Entertainment, Apollo Global Management, Paramount Global, Sony, Apollo, Paramount Pictures, Paramount

☆ Supreme Court rules against Warner Music in copyright damages case
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +1 min

The 6-3 ruling, authored by liberal Justice Elena Kagan, affirmed a lower court's decision that favored producer Sherman Nealy, who sued a Warner subsidiary and others in Florida federal court in 2018. Nealy has said that his label Music Specialist owns rights to the electronic dance song "Jam the Box" by Tony Butler, also known as Pretty Tony. Warner artist Flo Rida, whose given name is Tramar Dillard, incorporated elements of "Jam the Box" into his 2008 song "In the Ayer." The producer requested damages for alleged copyright infringement dating back to 2008. Circuit Court of Appeals reversed that decision and said there was "no bar to damages in a timely action."

Persons: Flo Rida, John Shearer, Elena Kagan, Sherman Nealy, Nealy, Tony Butler, Tony, Warner, Dillard, Warner Chappell, Butler Organizations: U.S, Supreme, Warner Music, Warner, Circuit, Appeals Locations: Universal City, Calif, Miami, Florida, Ayer, Atlanta

☆ The Balmain dress Elle Fanning wore to the Met Gala has a long history
▼ + stars: | 2024-05-09 | by ( Leah Dolan | ) edition.cnn.com time to read: +6 min

For Elle Fanning, who showed up to Monday night’s Met Gala in a completely transparent Balmain gown, it was the latter. Behold: The naked dress (or in Redmayne’s case, naked suit). In 1962, Hollywood actor Carroll Baker was photographed in one of the first ever naked dresses — also designed by Balmain. Balmain just designed the 8th one.”Hollywood starlet Caroll Baker also wore one of Balmain's transparent dress designs in 1962. Her sheer Balmain dress turned heads — and generated headlines.

Persons: it’s, Elle Fanning, Fanning, Emily Ratajkowski, Kim Kardashian, Doja, Phoebe Dyvenor, Greta Lee, Eddie Redmayne, Theo Wargo, Miley Cyrus, Jennifer Lawrence, Vanessa Hudgens, Florence Pugh, Kendall Jenner, Charli, Charlize Theron, Iris Law, Carroll Baker, —, Baker, Pierre Balmain, “, sparkles, ”, Caroll Baker, Spencer, “ Carroll, Yves Saint Laurent didn’t, Mary Quant, Edie Sedgwick, Trevor Humphries, Baker’s, nonchalantly Organizations: CNN, Balmain, Hollywood, Dior, Hulton, New York Times, Production, Paramount, Fox, MGM, Warner Brothers Locations: Prada, Paris, London, Balmain, British, America, Europe, Hollywood, Baker’s

☆ Why a failed video game cost Warner Bros. $200 million
▼ + stars: | 2024-05-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Discovery reported a $200 million loss on the game "Suicide Squad: Kill the Justice League." It's a reminder of how similar the video-game business is to Hollywood: big expenses, big rewards, big penalties for missing. AdvertisementDid you play "Suicide Squad: Kill the Justice League," the video game that came out in February? Discovery, which released the game, is that very few people did, and the ones who did really didn't like it. And that led the company to take a staggering $200 million loss on the game, which it disclosed in its first-quarter earnings on Thursday.

Persons: — Organizations: Warner Bros, Discovery, Justice League, Big, Service, Business Locations: Hollywood

☆ Oakmark's Tony Coniaris reacts to Warner Bros. Discovery's Q1 miss
▼ + stars: | 2024-05-09 | 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 EmailOakmark's Tony Coniaris reacts to Warner Bros. Discovery's Q1 missTony Coniaris, Oakmark portfolio manager, joins CNBC's 'Money Movers' to discuss Warner Brothers Discovery Q1 earnings, streaming bundle with Disney, top stock picks, and more.

Persons: Tony Coniaris Organizations: Warner Bros, Warner Brothers Discovery, Disney

☆ Trade Tracker: Josh Brown buys Warner Bros. Discovery
▼ + stars: | 2024-05-09 | 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 EmailTrade Tracker: Josh Brown buys Warner Bros. DiscoveryJosh Brown, CEO of Ritholtz Wealth Management, joins CNBC's "Halftime Report" to break down his latest trade on Warner Bros.

Persons: Josh Brown Organizations: Warner Bros, Ritholtz Wealth Management, Warner Bros .

Following the success of Pretty Little Liars: Original Sin, the first season of the Pretty Little Liars spin-off, it's no surprise that the series is back for a second outing. It's the fourth series to come out of Pretty Little Liars, following the short-lived Ravenswood and Pretty Little Liars: The Perfectionists spin-offs. ET / 12 a.m. PT on MaxHow to watch Pretty Little Liars: Summer School in the USPretty Little Liars: Summer School lands on Max on Thursdays. Shop at MaxHow to watch Pretty Little Liars: Summer School in the UKThere's no word yet on when Pretty Little Liars: Summer School will arrive in the UK, but Pretty Little Liars: Original Sin is available to stream on BBC iPlayer. Pretty Little Liars: Summer School trailerMax released a trailer for Pretty Little Liars: Summer School in April.

Persons: it's, Bailee Madison, Maia Reficco, Chandler Kinney, Malia Pyles, It's, we've, ExpressVPN, Max, HBO Max, Annabeth Gish, Sullivan Organizations: Business, Summer, Liars, HBO, Warner Bros, Pretty, BBC, Max, School Locations: Zaria, Max

☆ The root problem facing streamers is the lack of daily usage, says LightShed's Rich Greenfield
▼ + stars: | 2024-05-09 | 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 EmailThe root problem facing streamers is the lack of daily usage, says LightShed's Rich GreenfieldRich Greenfield, LightShed Partners co-founder, joins 'Squawk Box' to discuss Warner Bros. Discovery's quarterly earnings results, whether the company can retain its NBA rights, the new streaming bundle with Disney+ and Hulu, state of the streaming landscape, and more.

Persons: LightShed's Rich Greenfield Rich Greenfield Organizations: LightShed Partners, Warner Bros, NBA, Disney Locations: Hulu

☆ The bundle is making a comeback
▼ + stars: | 2024-05-09 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

Discovery announced a new bundle service. The new bundle will include Disney+, Hulu, and Max. The streaming bundle will become available to viewers this summer. Discovery announced a new streaming bundle service combining Disney+, Hulu, and Max. The companies unveiled the streaming bundle service on Wednesday in a press release.

Persons: Max, — Organizations: Disney, Warner Bros . Discovery, Service, Disney Entertainment, ABC, FX, Food Network, Marvel, HGTV, CNN Locations: Hulu

☆ Roblox shares drop nearly 30% as company cuts annual bookings forecast on muted player spending
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +2 min

Roblox cut its annual bookings forecast on Thursday, in a sign that people were dialing back on spending within its video-gaming platform amid an uncertain economic outlook and elevated levels of inflation. Electronic Arts also gave a weak revenue forecast earlier this week. Roblox now expects full-year bookings to be between $4 billion and $4.10 billion, down from its earlier forecast of $4.14 billion to $4.28 billion. Its second-quarter bookings forecast of $870 million to $900 million was also below estimates. Roblox will build the infrastructure for the ad platform in 2024 and start providing forecast for ad revenue in 2025, Guthrie added.

Persons: Roblox, Michael Guthrie, Guthrie Organizations: Electronic Arts, Walmart, Warner Bros Discovery

☆ Warner Bros. Discovery misses first-quarter estimates despite streaming growth
▼ + stars: | 2024-05-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

In this article WBD Follow your favorite stocks CREATE FREE ACCOUNTIn this photo illustration, the Warner Bros. Here is how Warner Bros. Discovery performed, compared with estimates from analysts surveyed by LSEG: Loss per share: 40 cents vs. 24 cents loss expected40 cents vs. 24 cents loss expected Revenue: $9.96 billion vs. $10.231 billion expected Warner Bros. Warner Bros. While NBCUniversal holds the U.S. rights for the Olympics, airing the games on its TV networks and Peacock streaming service, Warner Bros.

Persons: Rafael Henrique, Discovery, —, Max, Hulu —, I've, David Zaslav, Zaslav, NBCUniversal, Discovery's Max Organizations: Warner Bros, Getty, Discovery, TNT, Justice League, Disney, Hulu, CNBC, Warner Bros . Discovery, Fox Corp, Sports, NBA, Olympics Locations: U.S, Paris, Europe

☆ Disney, Hulu and Max Streaming Bundle Will Soon Become Available
▼ + stars: | 2024-05-08 | by ( John Koblin | More About John Koblin | ) www.nytimes.com time to read: +1 min

In a rare moment of solidarity, two entertainment giants are teaming up to try to get consumers to stop canceling their streaming services so frequently. Disney and Warner Bros. Discovery announced on Wednesday that they would start offering a bundle of their Disney+, Hulu and Max streaming services this summer, a sign of how rivals have become more willing to join forces in order to confront an ever-changing media landscape. The companies said that the bundle would be available to buy on any of the three streaming platform’s websites (Disney owns Disney+ and Hulu; Warner Bros. Discovery owns Max), and that there would be a commercial-free version as well as one featuring ads.

Organizations: Disney, Warner Bros . Discovery, Max

☆ Disney & Warner Bros. Discovery teaming up on streaming bundle
▼ + stars: | 2024-05-08 | 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 EmailDisney & Warner Bros. Discovery teaming up on streaming bundleHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: Disney, Warner Bros, Discovery, CNBC

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