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☆ Shopify stock skyrockets 25% on revenue beat, rosy holiday forecast
▼ + stars: | 2024-11-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Shopify shares popped more than 25% in Tuesday morning trading after the Canadian e-commerce company posted better-than-expected revenue for the third quarter and gave an optimistic forecast for the holiday shopping season. Revenue: $2.16 billion vs. $2.12 billion expected by LSEGShopify said it expects revenue in the current quarter to grow at at a percentage in the mid- to high-twenties. That surpassed Wall Street's expectations of 22.8% for revenue growth, according to FactSet. Shopify sells software for merchants who run online businesses as well as services such as advertising and payment processing tools. Shopify shares are up about 45% year to date.

Persons: LSEG Shopify, FactSet, Gross, Harley Finkelstein, Vera Bradley, Hanes, Finkelstein, Jeff Hoffmeister Organizations: Walmart, Lionsgate Entertainment, Reebok, Nasdaq

☆ Meta, challenging OpenAI, announces new AI model that can generate video with sound
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: +3 min

Facebook owner Meta announced on Friday it had built a new AI model called Movie Gen that can create realistic-seeming video and audio clips in response to user prompts, claiming it can rival tools from leading media generation startups like OpenAI and ElevenLabs. Movie Gen also can generate background music and sound effects synced to the content of the videos, Meta said in a blog post, and use the tool to edit existing videos. Videos created by Movie Gen can be up to 16 seconds long, while audio can be up to 45 seconds long, Meta said. They declined to comment on Meta's assessment for Movie Gen specifically. Lions Gate Entertainment , the company behind "The Hunger Games" and "Twilight," announced in September that it was giving AI startup Runway access to its film and television library to train an AI model.

Persons: Mark Zuckerberg, Meta, Gen, Meta spokespeople, OpenAI, Sora, Scarlett Johansson Organizations: Meta, Facebook, Microsoft, Technologists, Hollywood, Lions Gate Entertainment Locations: Menlo Park , California, U.S, Kling, Hollywood, Pakistan, India, Indonesia

Citi, meanwhile, initiated Lionsgate Studios with a buy rating. JPMorgan did lower its price target on Viasat to $23 per share from $30. The analyst reiterated his buy rating, noting that AI adoption is still in the early stages. The bank initiated coverage of the TV and movie studio with a buy rating. Its price target of $14 implies upside of more than 73% from Thursday's close.

Persons: Felix Liu, — Lisa Kailai Han, Sebastiano Petti, Petti, — Jesse Pound, Oppenheimer, Tyler Batory, Batory, — Hakyung Kim, Wynn, Vitaly Umansky, WYNN, Umansky, Wolfe, Eddie, Bill Carrache, Dell Dell, Wamsi Mohan, Dell, Mohan, Goldman Sachs, Michael Ng, Ng, Morgan Stanley, we're, Erik Woodring, Woodring, Jason Bazinet, LION, COVID, Fred Imbert Organizations: CNBC, Dell Technologies, Lionsgate Studios, Citi, UBS, JPMorgan, Viasat, Homes, Wynn Resorts, Seaport Research Partners, Wolfe Research, Third Bank Regional, Dell, Bank of America, DELL, Lionsgate Entertainment, Starz Locations: Bilibili, China, Viasat, Macau, Las Vegas, Vegas, Wall, Thursday's

☆ Elon Musk, under fire, threatens lawsuit against media watchdog
▼ + stars: | 2023-11-18 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +3 min

Leon Neal/Pool via REUTERS/File Photo Acquire Licensing RightsNov 18 (Reuters) - Elon Musk threatened on Saturday to sue media watchdog Media Matters and those who attacked his social media platform X, following moves by several large U.S. companies to halt advertising on the site after being promoted alongside antisemitic content. Liberal watchdog group Media Matters for America said earlier this week that it found ads from IBM, Apple and others were placed alongside content promoting Adolf Hitler and the Nazi Party. "This week Media Matters for America posted a story that completely misrepresented the real experience on X, in another attempt to undermine freedom of speech and mislead advertisers," a statement posted by Musk said. He accused Media Matters of creating an alternative account designed to "misinform advertisers" about their posts. Media Matters did not immediately respond to an emailed request seeking comment outside of business hours.

Persons: Tesla, Elon Musk, Leon Neal, Adolf Hitler, Musk, Axios, Musk's, Mrinmay Dey, David Gaffen, Tomasz Janowski, Kirsten Donovan, Daniel Wallis Organizations: SpaceX's, Bletchley, Media, Liberal, America, IBM, Apple, Nazi Party, X Corp, Disney, Warner Bros Discovery, Comcast, Lions Gate Entertainment, Paramount Global, Defamation League, ADL, Hamas, Thomson Locations: Bletchley, Britain, United States, Israel, Palestinian, Bengaluru

☆ Apple and Disney Among Companies Stopping Ads on X
▼ + stars: | 2023-11-18 | by ( Joe Flint | Patience Haggin | ) www.wsj.com time to read: 1 min

The exodus of major advertisers adds to the business challenges Elon Musk faces in managing X. Photo: Carlos Barria/ReutersApple and several major entertainment companies stopped advertising on Elon Musk’s X after the social-media network’s owner described an antisemitic post this week as “the actual truth” and again lashed out at the Anti-Defamation League. Among those pausing ads on the social-media platform are Disney , Warner Bros. Discovery , Paramount Global , NBCUniversal and its parent Comcast and Lions Gate Entertainment , people close to those companies said.

Persons: Elon Musk, Carlos Barria, Elon Musk’s Organizations: Reuters Apple, Elon, Defamation League, Disney, Warner Bros, Discovery, Paramount Global, NBCUniversal, Comcast, Lions Gate Entertainment

☆ Elon Musk says X to file 'thermonuclear' lawsuit against media watchdog
▼ + stars: | 2023-11-18 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +3 min

Leon Neal/Pool via REUTERS/File Photo Acquire Licensing RightsNov 18 (Reuters) - X Corp, formerly known as Twitter, will file a lawsuit against Media Matters and those who attacked social media platform X, Elon Musk said on Saturday in a post on the platform, soon after major U.S. companies paused their advertisements on the site. Liberal media watchdog group Media Matters for America earlier this week said it found that corporate advertisements by IBM, Apple, Oracle and Comcast's Xfinity were being placed alongside antisemitic content. Musk on Wednesday endorsed an antisemitic post on X that falsely claimed members of the Jewish community were stoking hatred against white people. "Media Matters created an alternate account and curated the posts and advertising appearing on the account's timeline to misinform advertisers about the placement of their posts." Media Matters did not immediately respond to an emailed request seeking comment outside of business hours.

Persons: Tesla, Elon Musk, Leon Neal, Musk, Comcast's Xfinity, Adolf Hitler, Axios, Elon Musk's, Andrew Bates, Mrinmay Dey, Tomasz Janowski, Kirsten Donovan Organizations: SpaceX's, Bletchley, X Corp, Twitter, Media, Liberal, IBM, Apple, Oracle, Nazi Party, Disney, Warner Bros Discovery, Comcast, Lions Gate Entertainment, Paramount Global, America, Palestinian, Thomson Locations: Bletchley, Britain, Israel, Bengaluru

☆ Lionsgate suspends advertising on X
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: 1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 17 (Reuters) - Lions Gate Entertainment (LGFa.N) has suspended advertising on Elon Musk-owned X, a spokesperson for the company said on Friday. Apple (AAPL.O) is also pausing all advertising on X, Axios reported, after Musk backed an antisemitic post on the social media platform earlier this week. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Axios, Musk, Samrhitha, Devika Organizations: Twitter, REUTERS, Gate Entertainment, Elon, Apple, Thomson Locations: Bengaluru

☆ Apple and Disney Among Companies Stopping Ads On X
▼ + stars: | 2023-11-17 | by ( Joe Flint | Patience Haggin | ) www.wsj.com time to read: 1 min

☆ Apple, Disney, other media companies pause advertising on X after Elon Musk promoted antisemitic tweet
▼ + stars: | 2023-11-17 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Apple CEO Tim Cook looks on following a conversation on mental health, during a spousal program on the last day of the Asia-Pacific Economic Cooperation (APEC) Leaders' Week at Apple Park in San Francisco, California, on November 17, 2023. Apple and Disney have paused online advertising campaigns on X, formerly Twitter, after owner Elon Musk said he agreed with a social media post accusing "Jewish communities" of pushing "hatred against whites," according to sources familiar with both companies' moves. Warner Bros Discovery , Paramount Global , Lions Gate Entertainment are also suspending campaigns on the social media service, spokespeople for the company confirmed. The X Out Hate group originally urged those companies to suspend their online advertising campaigns on X in September, when Musk insinuated that he would file a defamation lawsuit against the Anti-Defamation League, alleging that the ADL was "trying to kill this platform by falsely accusing it & me of being anti-Semitic." Steven Kovach and Alex Sherman contributed reportingWatch: IBM pauses advertising on X after Elon Musk receives backlash for antisemitic post.

Persons: Tim Cook, Elon Musk, Apple's, Axios, Adolf Hitler, Musk, Jonathan Greenblatt, Musk's, Andrew Bates, Steven Kovach, Alex Sherman Organizations: Apple, Economic Cooperation, APEC, Disney, Warner Bros Discovery, Paramount Global, Lions Gate Entertainment, New York Times, Media Matters, America, IBM, Bravo, Oracle, Nazi Party, Comcast, CNBC, Anti, Defamation League, ADL, Google, White House, Elon Locations: Asia, San Francisco , California

☆ Disney's board is in focus as activist investor Nelson Peltz considers his next move
▼ + stars: | 2023-11-08 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Activist investor Nelson Peltz may be intent on making sure Disney directors don't get that luxury. He tried earlier this year to get himself on the Disney board, only to be rebuffed by Iger and eventually walk away in February. Disney's board has also struggled to groom a successor to Iger, who has five times renewed his contract to stick around as CEO. Still, to sway Disney shareholders to vote for Peltz or other board members, Trian may need to push for specific ideas or financial engineering that Disney hasn't already articulated. If not, his next move could be a public fight to get himself and others on Disney's board.

Persons: Nelson Peltz, Ike Perlmutter, Bob Iger, Trian hasn't, Peltz, Hugh Johnston, Iger, Trian, Gamble, Bob Chapek, Mark Parker, Mary Barra, there's Organizations: Disney, Trian, Management, Marvel Entertainment, PepsiCo, Paramount Global, Comcast, Warner Bros, Discovery, AMC Networks, Lions, Entertainment, Proctor, Nike, General, Iger, CNBC, ABC, ESPN Locations: Iger

☆ 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

☆ These are the best stocks to own in the second half, according to Rosenblatt Securities
▼ + stars: | 2023-07-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Rosenblatt Securities is looking toward the second half of the year for investors. Our price target of $200 is supported by a mid-20s P/E on earnings power of over $6.00," the note said. NVDA AMD YTD mountain Both AMD and Nvidia have benefited from the explosion in artificial intelligence so far this year. In media and entertainment, Lions Gate Entertainment class B stock made the Rosenblatt list with a $17 per share price target. Rosenblatt is also eyeing broadband company Harmonic , with a $22 per share price target that implies about 35% upside.

Persons: Rosenblatt, Rosenblatt's Michael Kiernan, Barton Crockett Organizations: Securities, AMD, Nvidia, Galaxy, Toronto Stock Exchange, Lions, Entertainment

☆ Paramount Turned Down $3 Billion-Plus Offer for Showtime From Former Executive
▼ + stars: | 2023-02-28 | by ( Jessica Toonkel | ) www.wsj.com time to read: 1 min

Former Paramount Global executive David Nevins offered to buy Showtime for more than $3 billion in recent weeks but was turned down by Paramount executives, according to people familiar with the situation. Mr. Nevins’s approach, which was backed by private-equity firm General Atlantic, was the latest in a number of offers Paramount has received over the past few years for Showtime, people familiar with the matter said. Other suitors included Mark Greenberg, another former Showtime executive who most recently ran the premium network Epix, and Lions Gate Entertainment Corp., some of the people said.

☆ The Fed could lay the groundwork for a year end rally in the week ahead
▼ + stars: | 2022-10-28 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.

☆ Lions Gate focusing on spinning off studio business over Starz
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

Actors and staff pose as they arrive for the world premiere of "The Hunger Games: Mockingjay - Part 2" in Berlin, Germany, November 4, 2015. REUTERS/Fabrizio BenschSept 28 (Reuters) - Lions Gate Entertainment Corp (LGFa.N) said on Wednesday it was focusing on spinning off its studio business first, even as it explores alternative options for its cable and streaming division, Starz. The company's film and TV studios have an extensive library, with hits such as "Hunger Games, "The Expendables" and "Mad Men". "As negotiations progress, we have increased our focus on the possibility of spinning our studio business, creating a number of financial and strategic benefits." Lionsgate also announced it would rebrand its international streaming service, Starzplay, to Lionsgate+ in 35 countries.

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