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A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Investors await August consumer prices data, due on Wednesday, and producer prices scheduled on Thursday, followed by the Fed's policy decision on Sept. 20. A recent uptick in oil prices and strong economic data have fueled concerns over stubborn inflation, clouding the outlook for an end to U.S. monetary tightening. Investors will also monitor the European Central Bank's policy decision on Thursday, where it is seen holding rates after nine consecutive hikes. ET, Dow e-minis were down 48 points, or 0.14%, S&P 500 e-minis were down 9 points, or 0.2%, and Nasdaq 100 e-minis were down 27.5 points, or 0.18%.
Persons: Carlo Allegri, Wall, Morgan Stanley, BoE, Mohit Kumar, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Kappa, Dow, Nasdaq, Microsoft, Investors, Fed, ECB, Jefferies, Dow e, Oracle, Paramount Global, Amusements, Thomson Locations: New York, U.S, Bengaluru
Mission Impossible: Paramount reckoning
  + stars: | 2023-07-05 | by ( Jennifer Saba | ) www.reuters.com   time to read: +8 min
NEW YORK, July 5 (Reuters Breakingviews) - Paramount Global’s (PARA.O) predicament is worthy of its successful “Mission: Impossible” franchise. Over the past year or so, Warren Buffett’s Berkshire Hathaway (BRKa.N) has bought and increased its stake in Paramount to about 15%. Without the funding, her closely held firm might have needed to pledge more of its Paramount stock against a loan. Streaming service Paramount+ is similar to Netflix, whose enterprise is worth 5 times next year’s estimated revenue. “Mission: Impossible Dead Reckoning Part One,” from Paramount Pictures, opens in movie theaters on July 12.
Persons: Shari Redstone, Looney, Walt Disney, Sumner, Warren Buffett’s Berkshire Hathaway, Goldman Sachs, Byron Trott, Rudolph Valentino, Mae West, Marx, Trustbusters, Martin Davis, Sumner Redstone, Simon, Schuster, Walt, Jeffrey Goldfarb, Sharon Lam, Streisand Neto Organizations: YORK, Reuters, Paramount, Warner Bros Discovery, AT, Netflix, Apple, Comcast, Electronic Arts, MSD Partners, Viacom, Audio Communications, CBS, Nickelodeon, MTV, Time Warner, Reuters Graphics Reuters, Tiffany Network, National Football League, Fox, Amazon, MGM, U.S, Penguin Random, Walt Disney, Amusements, Paramount Global, BDT Capital Partners, , Paramount Pictures, Thomson Locations: U.S, Gulf, Western, NAI
Check out the companies making some of the biggest moves in premarket trading:ChargePoint — Shares of the electric vehicle charging station company jumped 5% premarket after Bank of America upgraded the stock to buy. Tesla — Shares gained 3% premarket. Last Thursday, Tesla and Ford announced a partnership giving Ford owners access to Tesla Superchargers. Coinbase — Shares gained 4% in premarket trading. Nvidia — Shares continued to near $1 trillion in market value, up 3.7% in premarket trading.
Visitors at the Nvidia stand at the 2022 Apsara Conference in Hangzhou, China, Nov 3, 2022. Nvidia — Shares of the chipmaker and artificial intelligence beneficiary popped nearly 6%, building on its recent gains on the heels of a blowout quarter. Tesla — Shares gained 6% following a Reuters report a private jet used by CEO Elon Musk arrived in China, his first visit in three years. ChargePoint — Shares rose nearly 11%. Devon Energy , Diamondback , Chevron , ExxonMobil — Energy stocks were under pressure Tuesday as prices for oil and natural gas slid.
National Amusements, Paramount's majority voting shareholder, announced Thursday afternoon that it has entered into an agreement for a $125 million preferred equity investment from BDT Capital Partners, an affiliate of BDT & MSD Partners. Paramount Global shares jumped nearly 6% on Friday after an investor known as Warren Buffett's favorite banker piled into the media company's controlling shareholder. BDT & MSD Partners' chairman and co-CEO is Byron Trott, who has long been known as Buffett's preferred and trusted banker. "It's not good news when any company passes its dividend, or cuts its dividend dramatically," Buffett said. Upgrade from LoopLoop Capital on Friday upgraded Paramount to a hold rating from a sell in light of the BDT investment.
Tesla 's stock gained 4.72%. Marvell Technology — The semiconductor stock soared 32.42% after the company's earnings beat analyst expectations. Despite reporting an earnings and revenue beat, shares fell on the company's reduced operating margin outlook for the full year. Paramount — Shares of the media company gained 5.89% after National Amusements, Paramount's majority voting shareholder, announced a $125 million preferred equity investment by BDT Capital Partners. Workday also raised the low end of its full-year subscription revenue guidance and named a new chief financial officer, Zane Rowe.
10 fascinating theme parks that have closed forever
  + stars: | 2023-04-19 | by ( Joe Yogerst | ) edition.cnn.com   time to read: +9 min
In April, we’re taking a thrilling ride into the world of theme parks. “We think of amusement parks as vibrant, colorful, noisy, cheerful places,” says Jim Futrell of the National Amusement Park Historical Association. Pripyat Amusement Park (Ukraine)The Pripyat Amusement Park was built right before the Chernobyl disaster. Yongma Land (South Korea)Once in a blue moon, abandoned theme parks find new life by adopting totally new functions. Faced with increased competition from Orlando’s modern theme parks, Cypress Gardens closed in 2009 and was eventually absorbed into LEGOLAND Florida.
Paramount Global is considering selling a majority stake of BET Media Group, the owner of the BET cable network and studio, VH1, and the streaming service BET+, according to people familiar with the matter. While other assets at Paramount Global are closely intertwined with its flagship streaming service Paramount+, BET has its own streaming service, its own ad sales team, and an investment from actor and producer Tyler Perry. Selling a majority stake in BET Group would allow Paramount Global to get added capital to spend on programming for Paramount+ and Pluto TV, its free ad-supported streaming service. Paramount moved VH1 into BET Media Group in October. BET Media Group is run by BET CEO Scott Mills.
‘Unscripted’ Review: Sex, Lies and Viacom
  + stars: | 2023-02-14 | by ( Edward Kosner | ) www.wsj.com   time to read: +1 min
Sumner Redstone, who died in 2020 at the age of 97, was one of the killer whales thriving in the swirling currents of the modern media. A hulking old man with dyed red hair and a maimed right hand, he was a mega-billionaire with a ravenous appetite for power, riches—and sex. At his peak at the turn of the century, he controlled Viacom; Paramount Pictures; the National Amusements movie-theater chain; the CBS network, MTV, Comedy Central and Nickelodeon; and the Simon & Schuster publishing house. Then the end came in a crescendo of recrimination, litigation and family turmoil. Imagine a mash-up of “King Lear” and “Weekend at Bernie’s,” the 1989 movie comedy about two scamps who prop up a cadaver so they can enjoy a weekend at his beach house, with Redstone starring in both title roles.
LOS ANGELES – While shareholders will still be keyed in to see how many subscribers Disney's suite of streaming services added during the fiscal first-quarter report, the focus of Wednesday's earnings will be the return of CEO Bob Iger. This is Iger's first earnings call since early 2020, and his words will set the tone for the future of the media company. As part of that warning, the company noted that its Disney+ platform may see a tapering of growth going forward. In November, the company reported $1.5 billion in operating losses at its direct-to-consumer unit, which includes its streaming services. As for subscriber growth, analysts predict the total Disney+ user pool will be 161.1 million, a loss of around 3 million compared to the previous quarter.
Paramount Global 's stock got a boost Tuesday after Warren Buffett's Berkshire Hathaway upped its stake, a fresh signal that the media and entertainment company could be an acquisition target. Berkshire disclosed in public filings late Monday that it now owns more than 91 million shares in Paramount. Buffett's firm first disclosed its new stake in Paramount in May. Paramount is controlled through its class A shares by National Amusements, chairman Shari Redstone's holding company. Paramount owns "Top Gun: Maverick" movie studio Paramount Pictures, as well as the broadcast network CBS, cable channels including MTV and VH1, the premium network Showtime, and fledgling streaming service Paramount+.
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