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☆ Stocks making the biggest moves midday: GameStop, Paramount, Spotify, Krispy Kreme and more
▼ + stars: | 2024-06-03 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Waste Management , Stericycle — Waste Management is buying Stericycle for $7.2 billion , the companies announced on Monday. Stericycle shares jumped nearly 15%, while Waste Management slid 4%. Spotify — The music streaming company climbed 4% following its announcement of premium subscription price increases in the U.S. in July. Lattice Semiconductor , Coherent — Lattice shares dove 11% after CEO Jim Anderson left to take the helm at Coherent, whose stock price jumped 17%. Krispy Kreme — Shares of the company rose 2% after it was upgraded to overweight at JPMorgan.

Persons: Keith Gill, Gill, Stericycle, CNBC's David Faber, Skydance, Shari Redstone, Jim Anderson, Esam, Dickinson, Edwards, Narendra Modi, Claudia Sheinbaum, Cava, Blackwell, Krispy Kreme, Masimo, Piper, Piper Sandler, Goldman Sachs, Goldman, — CNBC's Sean Colon, Yun Li, Pia Singh, Michelle Fox, Christina Cheddar, Berk Organizations: GameStop, DeepF, AMC, New York Stock Exchange, Waste Management, Spotify, GSK, Court, Paramount Global, Lattice Semiconductor, Company, Bloomberg News, JPMorgan, Nvidia, AMD, Bank of America, Therapeutics, Autodesk Locations: U.S, Swedish, Delaware, Becton, India, Mexico

☆ Jim Cramer calls Paramount deal a ‘vanity project' and marvels at Spotify’s stock pop
▼ + stars: | 2024-06-03 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Waste Management : The company agreed to buy medical waste-disposal company Stericycle for $5.8 billion. Stericycle shares rose 15% on the news. Becton Dickinson : The company agreed to buy Edwards Life Sciences' critical care unit for $2.3 billion. Jim said that Spotify is a best-in-class subscription service, and its stock is "going to go higher" on a fee bump. The stock rose more than 4.5% on Monday.

Persons: Jim Cramer's, Jim Cramer, Becton Dickinson, Jim, Jim Beam, Sam Adams, it's, Skydance, CNBC's David Faber Organizations: CNBC, Club, Waste Management, Edwards, Sciences, Boston Beer, Bloomberg, Suntory, Paramount Global, Paramount, Spotify Locations: U.S

☆ 'All That' star Lori Beth Denberg calls out Nickelodeon executives for silencing her when she raised concerns about Dan Schneider
▼ + stars: | 2024-05-28 | by ( Olivia Singh | ) www.businessinsider.com time to read: +5 min

Read preview"All That" star Lori Beth Denberg is continuing to speak out about her negative experience at Nickelodeon and demanding accountability from the executives who were silent when she flagged concerns about Dan Schneider. In the interview, Denberg detailed the power imbalance in her dynamic with Schneider, the head writer of "All That," and said that he put her in several uncomfortable and inappropriate situations. Real accountability is what I'm speaking up for, so it doesn't continue to happen," Denberg added, tagging the Instagram accounts for Robbins, Hecht, Paramount Pictures, and Nickelodeon. Matt Sayles/Invision/APFollowing the conversation with Robbins, Denberg said that she had a meeting with Hecht, the then-president of Nickelodeon Entertainment, in 2000. Denberg didn't tell Robbins or Hecht about her sexual encounters with Schneider but reiterated her concern for Bynes.

Persons: —, Lori Beth Denberg, Dan Schneider, Denberg, Brian Robbins, Albie Hecht, BRIAN ROBBINS, ALBIE HECHT, Kate Taylor, Schneider, Robbins, Hecht, Discovery's, Taylor, Amanda Bynes, Bynes, gaunt, Matt Sayles, Invision Organizations: Service, Nickelodeon, Business, Paramount Pictures, Robbins Productions, Galen, Nickelodeon Entertainment, Spike, Paramount Global Locations: Los Angeles

☆ Paramount, Charter Communications sign new content distribution deal
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

The Paramount logo is displayed at Columbia Square along Sunset Blvd in Hollywood, California, on March 9, 2023. Paramount Global has signed a new multi-year content distribution deal with Charter Communications for its full portfolio of linear cable networks, the companies said on Thursday. The companies did not disclose the financial terms of the deal, in which the ad-supported versions of Paramount's direct-to-consumer services, Paramount+ Essential and BET+ Essential, will be included at no extra cost to Charter's Spectrum TV customers. Charter will also make Paramount's direct-to-consumer products available for purchase to its millions of Internet-only customers. It will continue to carry CBS owned-and-operated broadcast stations and all of Paramount's current cable networks and Paramount+, the companies said.

Organizations: Paramount, Columbia, Paramount Global, Charter Communications, BET, Spectrum, CBS Locations: Hollywood , California

☆ 'All That' star Lori Beth Denberg says Nickelodeon's Dan Schneider showed her porn, initiated phone sex, and lashed out on set
▼ + stars: | 2024-05-14 | by ( Kate Taylor | ) www.businessinsider.com time to read: +15 min

Schneider told Denberg that he should have been the one to have that conversation. "I feel like that is the first time he preyed on me," Denberg told Business Insider. "Nobody thinks it is their responsibility" to protect the people working at Nickelodeon, Denberg said. According to Denberg, Schneider would refuse to write her jokes for the segment until the last minute, forcing her to perform live without rehearsing. Denberg said she cheered up Bynes, then told Schneider that he couldn't change "the little girl's lines on the spot."

Persons: Lori Beth Denberg, Dan Schneider, Nickelodeon's, Denberg, Schneider, Drake, Josh, Jenny Kilgen, Lori Beth, it's, she's, Albie Hecht, Brian Robbins, Amanda Bynes, costars, Jeff Kravitz, Farah Alvin, Denberg's, It's, Robbins, Angelique Bates, Bates, Bynes, Dan, gaunt, Alvin, Amanda, Gioncarlo Valentine, Schneider hadn't, Schneider's, Hecht, SpongeBob, Kate Taylor, Mimi Meyer Organizations: Business, Nickelodeon, Schneider, BI, Robbins Productions, Nickelodeon's, Nickelodeon Entertainment, New York Times, Paramount, Paramount Global, Maxine Productions, Sony Pictures Locations: Orlando, Los Angeles, York

☆ These stocks are set to gain the most over the next month, according to an AI model
▼ + stars: | 2024-05-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

One of those programs is iFi Ai, an investment information firm powered by IBM's Watsonx. IFi AI takes in a wide range of market signals and data to make projections about where individual stocks will go next. One of the outputs from the iFi AI model is a 30-day projected price return. The iFi AI model sees a gain of 23%. The iFi AI model is not the only entity bullish on Schwab.

Persons: Ai, IBM's Watsonx, Ron Insana, Warren Buffett's Berkshire Hathaway, iFi, Piper Sandler, Matthew Clark, Charles Schwab, Schwab Organizations: CNBC, Paramount Global, Paramount, Sony, Skydance Media, Western Alliance

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

☆ Sony and Apollo’s Plan for Paramount: Break It Up
▼ + stars: | 2024-05-08 | by ( Benjamin Mullin | Lauren Hirsch | ) www.nytimes.com time to read: +1 min

Shari Redstone helped build Paramount Global into a sprawling media empire, but if Sony Pictures Entertainment and private-equity giant Apollo Global Management succeed in acquiring it, they plan to break it all up, according to three people familiar with the matter. Paramount Pictures — home to blockbusters like “The Godfather,” “Top Gun” and the “Mission Impossible” franchise — would be combined with Sony’s existing business. They have not yet outlined this plan to Paramount or its advisers. CBS and Paramount have been controlled by the Redstone family for decades, since the media mogul Sumner Redstone assembled the sprawling conglomerate in a series of audacious deals. His daughter, Shari Redstone, championed a 2019 deal to reunite it through a merger with CBS, and remains Paramount’s controlling shareholder.

Persons: Shari Redstone, SpongeBob, Sumner Redstone Organizations: Paramount, Sony Pictures Entertainment, Apollo Global Management, CBS, MTV, Paramount Pictures, Sony

☆ Disney shares tumble on light guidance. But here's why we're raising our price target
▼ + stars: | 2024-05-07 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Disney Why we own it: We value Disney for its best-in-class experiential entertainment Parks business, which has proven to have immense pricing power. In the second quarter, the combined business — Disney+, India's Disney+ Hotstar, Hulu and ESPN+ — saw losses of $18 million, far better than the $659 million loss in the year-ago period. DTC profitability benefited from Disney+ core subscriber growth, higher retail subscription prices, increased advertising revenue on the back of higher impressions, and lower distribution costs. Clearly, Disney still has a big opportunity in sports as they execute on their DTC streaming strategy for ESPN. The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022.

Persons: —, Nelson Peltz, wouldn't, Hugh Johnston, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Club, Revenue, LSEG, Disney, Parks, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, CNBC, seasonality, Entertainment, Hulu, Hulu Live, Sports ESPN, College Football, National Football League, Walt Disney World, Disney Cruise, Disneyland, Hong Kong, Getty Locations: Hulu, India, Florida, California, Hong, Los Angeles

☆ The streaming future Disney promised is finally here as cable TV decays
▼ + stars: | 2024-05-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Last year in the second quarter, Disney+ and Hulu lost $587 million. The thesis among all major legacy media companies has been that streaming will eventually take over for cable TV as the primary money-making engine. It's not just that Disney nearly made money in streaming — it's that the company's traditional linear TV results were awful. Next year, Disney will launch its flagship ESPN streaming service, which will allow consumers to subscribe to ESPN without cable at all. Looking at Disney's results in the second quarter, it's clear why the company has finally pulled the ripcord on ESPN.

Persons: Bob Iger, It's, Disney Organizations: Walt Disney Company, Disney, Hulu, ESPN, Paramount Global, Warner Bros . Discovery, Comcast, Fox, College Football, ABC, Disney Channel, FX, Geographic, Disney Junior Locations: Beverly Hills , California, U.S

Berkshire Hathaway Chairman and CEO Warren Buffett on Saturday addressed losses tied to bets on Paramount Global , as well as his reasoning behind slashing the company's Apple stake by 13% . Buffett opined that trimming the company's stake in Apple was in part due to tax reasons after the stock roared in 2023. Coca-Cola, Apple Buffett said Apple and Coca-Cola will remain premier holdings in Berkshire's portfolio. American Express The "Oracle of Omaha" highlighted credit card firm American Express as another favorite, noting the company's growing position in the consumer credit sector. Warren Buffett and Greg Abel during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.

Persons: Warren Buffett, Buffett, we've, Apple Buffett, BYD Buffett, Charlie Munger, Charlie, BYD, Munger, Cash, Treasurys Buffett, Greg Abel Organizations: Berkshire Hathaway, Paramount Global, Apple, Paramount, Express, American Express, Oracle, American, Costco, Berkshire, CNBC Locations: Omaha, Costco . Berkshire, Omaha , Nebraska

Shari Redstone, chair of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2023. The consortium has been waiting for word from Paramount's special committee on whether the panel will recommend its bid to acquire the company to Redstone. Spokespeople for Skydance, Redstone's National Amusements and Paramount's special committee declined to comment on Friday. Previously, Redstone rejected an offer by Apollo in favor of exclusive talks with Skydance. Redstone has preferred a deal that would keep Paramount together, as Skydance's offer would, CNBC previously reported.

Persons: Shari Redstone, David Ellison's Skydance, CNBC's David Faber, Ellison, Spokespeople Organizations: Paramount Global, Allen, Co . Media, Technology Conference, Skydance, Apollo Global Management, Sony Pictures, RedBird Capital, KKR, Paramount, Apollo, Sony, CNBC, Redstone Locations: Sun Valley , Idaho

☆ Souring on Apple? Mystery bank stock? Buffett followers seek clarity on portfolio at annual meeting
▼ + stars: | 2024-05-02 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

Trimming Apple One surprising move from the conglomerate was selling about 10 million Apple shares (just 1% of its massive stake) in the fourth quarter. Second, it could have been Buffett's investment deputies Todd Combs and Ted Weschler who trimmed the Apple stake in order to fund other purchases. There's a chance that Buffett might reveal at the annual meeting the mystery bank stock that Berkshire has been buying for two quarters straight . Berkshire now owns more than 70 million of the tracking stock. "You need higher prices, or it doesn't work," Buffett said at Berkshire's 2023 annual meeting.

Persons: Warren Buffett's, Buffett, Todd Combs, Ted Weschler, Debbie Bosanek, Warren, Berkshire Hathaway, SIRI, Bob Bakish, Berkshire's, You've Organizations: Berkshire Hathaway, CNBC, Apple, Oracle, Securities and Exchange Commission, Verizon, Berkshire, Liberty, Liberty Media Corp, Liberty Media, Liberty Media Sirius, Paramount, Paramount Global, Skydance Locations: Berkshire, Woodstock, Omaha , Nebraska, Omaha, Chevron, New York, The Omaha

☆ Sony and Apollo offer $26 billion for Paramount: report
▼ + stars: | 2024-05-02 | by ( Paul Squire | Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

Sony and Apollo Global Management are reportedly bidding big for Paramount. AdvertisementSony and the private equity firm teamed up for an all-cash offer of $26 billion for Paramount Global, The Wall Street Journal reported on Thursday. Sony and Apollo's offer was nonbinding, according to the JournalApollo's bid comes after Paramount announced its CEO Bob Bakish was stepping down Monday. Apollo previously bid $11 billion for just Paramount's movie studio, the Wall Street Journal reported in March. Apollo partner Aaron Sobel co-signed the offer letter with Sony CEO Tony Vinciquerra, people familiar with the situation told the Journal.

Persons: Bob Bakish, They've, Hayley Cuccinello, Aaron Sobel, Tony Vinciquerra, Sobel, Lee Solomon, Shari Redstone hasn't Organizations: Sony, Apollo Global Management, Paramount, Paramount Global, Street, Skydance Media, RedBird Capital Partners, KKR, Apollo, Wall Street, Legendary Entertainment, Concord Music Group

Spokespeople for Paramount, Redstone's National Amusements, the special committee and Skydance declined to comment. Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter. Paramount Global shares jumped more than 12% on the news that Sony and Apollo submitted a letter formalizing its interest, earlier reported by The New York Times and Wall Street Journal. A $26 billion offer for Paramount Global values the company higher than the company's current $22 billion enterprise value. Redstone could also argue she's more comfortable with pushing forward at Paramount Global without a sale.

Persons: Skydance, hasn't, David Ellison's Skydance, Shari Redstone, It's, Redstone's, Bob Bakish Organizations: Paramount, Sony, Apollo, Skydance, RedBird Capital, KKR, Sony Pictures, Apollo Global Management, Paramount Global, The New York Times, Wall Street Journal, Hollywood, Matrix Asset Advisors, Aspen Sky Trust, Redstone Locations: Apollo

☆ Warner Bros. Discovery’s stock plummets to new low amid concerns the media giant could lose its NBA rights
▼ + stars: | 2024-05-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

Discovery doesn’t “have to have the NBA.” It appears Wall Street disagrees. TNT has built a programming slate around the NBA games, most notably the highly rated ”Inside the NBA” show. Losing the rights to NBA games could throw aspects of that business partnership into question. Since WBD first began trading on Wall Street in April 2022, the stock has lost roughly 70% of its value. And for Zaslav, whose company is struggling on Wall Street, the battle could not come at a more inopportune time.

Persons: New York CNN — David Zaslav, “, WBD, —, Joe Flint, Amol Sharma, Isabella Simonetti —, Charles Barkley, Andrew Marchand, Warner, That’s, NBCU’s, I’m, Zaslav, Gunnar Wiedenfels, Wiedenfels ’, Bob Iger, David Ellison’s, ” Organizations: New York CNN, Warner Bros, NBA, CNN, Industry, WBD, TNT, The Athletic, New York Post, NCAA, MLB, NHL, NASCAR, Disney, Fox Corporation, Netflix, Paramount Global, Wall Locations: New York

Paramount’s cloudy futureThe boardroom intrigue at Paramount Global — the drama that has gripped the corporate world — just got messier. Bob Bakish is out as C.E.O., replaced by three subordinates who will form an “office of the C.E.O.” His departure caps a year of rising tension between him and Shari Redstone, Paramount’s controlling shareholder, who is pushing for a deal with David Ellison’s Skydance. Bakish’s exit removed an executive who didn’t support that transaction, but it doesn’t resolve all of the big questions hanging over the company’s future. Why Bakish was pushed out: Redstone picked the low-profile company veteran to lead Paramount after years of internal strife, but they still ended up clashing.

Persons: Bob Bakish, ”, Shari Redstone, David Ellison’s Skydance, Bakish Organizations: Paramount Global, Redstone, Paramount

Eli Lilly — Shares added 5% after Eli Lilly, maker of the Mounjaro diabetes and weight loss drug, beat analysts' expectations for first-quarter adjusted earnings. PayPal — Shares gained 3.6% after the payment company posted $7.70 billion in first-quarter revenue, beating analysts' estimates for $7.51 billion, according to LSEG. The chipmaker posted adjusted earnings of $3.24 per share, higher than the consensus estimate of $3.16 per share, according to LSEG. Earnings of 24 cents per share on $1.37 billion in revenue exceeded consensus forecasts of 11 cents and $1.36 billion, according to FactSet. Adjusted earnings of 71 cents per share topped anticipated earnings of 65 cents per share.

Persons: Eli Lilly —, Eli Lilly, drugmaker, Jefferies, Tesla, Goldman Sachs, Tenet, Corning, FactSet, Sysco, Medifast, Paccar, Bob Bakish, Skydance, Needham, Macheel, Michelle Fox, Yun Li, Lisa Kailai Han, Pia Singh, Sarah Min Organizations: PayPal —, PayPal, Semiconductor, Tenet, FactSet, Technology, GE Healthcare Technologies, LSEG, Taco Bell, KFC, Paramount Global, CBS, Paramount Locations: Indianapolis, China, LSEG, FactSet, Houston

☆ More CEOs are deciding the stress, pressure, and loneliness are just not worth the money
▼ + stars: | 2024-04-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Pressure, stress, and lonelinessHead honchos have been calling out the difficulties of their jobs for years. Tesla and SpaceX CEO Elon Musk has bemoaned that running a company is "really not that fun" and "just awful" at times. "The depths of loneliness I experienced as a CEO are difficult to put into words," he posted on X in January. The combination of immense pressure, stress, loneliness, and lack of work-life balance that often comes with being a CEO may well explain why few people last long in the role.

Persons: —, HSBC's Noel Quinn, Bob Bakish, Dr Martens, Kenny Wilson, Andrew Challenger, HSBC's Quinn, Elon Musk, Musk, Grzegorz Wajda, Brian Chesky, Warren Buffett, Berkshire Hathaway, Buffett Organizations: Service, Paramount, Business, SpaceX, Berkshire, he's

☆ Monday’s rapid fire: AT&T, Paramount Global, Domino’s Pizza, SoFi and Lululemon
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonday’s rapid fire: AT&T, Paramount Global, Domino’s Pizza, SoFi and LululemonCNBC’s Jim Cramer on Monday discussed headlines around five stocks outside the Investing Club portfolio including AT&T and Lululemon.

Persons: Lululemon CNBC’s Jim Cramer Organizations: Paramount Global

☆ Stocks making the biggest moves midday: Tesla, Roku, Apple, SoFi, Domino's and more
▼ + stars: | 2024-04-29 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

SoFi Technologies — The consumer fintech company's stock price plunged about 10% on disappointing second-quarter earnings guidance. AT & T — The telecommunications stock popped 2.8% after Barclays upgraded AT & T to overweight from equal weight, citing a "mismatch" between the company's valuation and its growth prospects. Apple — Shares rose more than 3% after Bernstein upgraded the tech stock to outperform from market perform. Dave — Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating. Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating.

Persons: FactSet, Tesla, Domino's, LSEG, Roku, David Joyce, Bernstein, Toni Sacconaghi, Dave —, Dave, AMC preannounced, Bob Bakish, —, Sarah Min, Tanaya Macheel, Yun Li, Lisa Kailai Han, Michelle Fox Organizations: Technologies, Elon, Sunday, U.S, Philips —, Philips, Barclays, Seaport Research Partners, Apple, Airlines —, Jeffries, AMC Entertainment Holdings, AMC, Paramount Locations: China, U.S

☆ Jim Cramer shares his thoughts on AT&T, Paramount Global, Domino’s Pizza, SoFi and Lululemon
▼ + stars: | 2024-04-29 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

AT & T : Shares rose more than 2% after Barclays upgraded the telecommunications company to a buy-equivalent rating. Paramount Globa l: Shares rose about 5% on Monday. "This is just the most speculative situation in the world, and if the deal doesn't get together you're going to see a $6 stock," Cramer said. Domino's Pizza : The pizza chain reported better-than-expected quarterly results, which included same-store sales rising 5.6%. "Q2 guide was a little light," Cramer said, noting he still sees uncertainty around the fate of student-loan forgiveness initiatives.

Persons: Jim Cramer's, Jim Cramer, doesn't, Cramer, Russell Weiner, They've Organizations: CNBC, Club, Barclays, Verizon, Paramount, Skydance Media, Lululemon

☆ Paramount Global ousts chief Bob Bakish as future of media conglomerate hangs in the balance
▼ + stars: | 2024-04-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Paramount Global on Monday parted ways with its chief executive, Bob Bakish, in a seismic move that sent reverberations through the media conglomerate as it actively engages in acquisition talks with Skydance Media. In place of Bakish, who led the company since controlling shareholder Shari Redstone reunited Viacom and CBS Corporation under one roof in 2019, will be a triumvirate of leaders: Brian Robbins, chief executive of Paramount Pictures; Chris McCarthy, chief executive of Showtime and MTV Entertainment Studios; and George Cheeks, chief executive of CBS. In an attempt to stave off declining cable revenues, Paramount has spent billions of dollars building its own streaming service, Paramount+. Supporters of the Skydance deal hope that merging Paramount with the Ellison-led company will change its fortunes. Those shareholders have argued the deal primarily benefits Redstone and they have encouraged Paramount’s board to evaluate other options.

Persons: Bob Bakish, Bakish, Shari Redstone, Brian Robbins, Chris McCarthy, George Cheeks, Bob, ” Redstone, David Ellison, Larry Ellison, Ellison, Skydance, Jeff Shell Organizations: New, New York CNN, Paramount Global, Skydance Media, Viacom, CBS Corporation, Paramount Pictures, Showtime, MTV Entertainment Studios, CBS, Paramount, Skydance, CNN, BET, Nickelodeon, MTV, Comedy, Netflix Locations: New York, Redstone, Skydance

☆ Stocks making the biggest moves after hours: Paramount, NXP Semiconductors, Chegg, F5 and more
▼ + stars: | 2024-04-29 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The news comes as Paramount posted per-share earnings of 62 cents, topping the 36 cents anticipated by analysts polled by LSEG. First-quarter earnings of 24 cents per share surpassed an estimate of 11 cents per share from Factset. Second-quarter earnings and revenue guidance also came in better than expected. F5 — The application security cloud company dropped 9% after F5 issued disappointing third-quarter revenue guidance of $675 million to $695 million, compared to the $695 million LSEG consensus estimate. Second-quarter revenue of $681 million also missed the $685 million anticipated by analysts.

Persons: Bob Bakish, LSEG, Chegg, Medifast, Coursera, Woodward, Jeff Cote, Martha Sullivan, Sensata, Phillip Eyler Organizations: Paramount, CBS, LSEG, Sensata, Elliott Investment Locations: LSEG ., Factset .

☆ Paramount CEO Bob Bakish is officially out
▼ + stars: | 2024-04-29 | by ( Paul Squire | ) www.businessinsider.com time to read: +2 min

CEO Bob Bakish will step down and be replaced by a trio of senior executives. David Ellison has been itching to strike a deal with Shari Redstone to buy Paramount. AdvertisementParamount announced Monday that its president and CEO Bob Bakish is out and will be replaced by a trio of execs. Bakish is stepping down from the entertainment studio as major shareholder Shari Redstone inches closer to a possible sale of her controlling stake in the company. In the statement, Shari Redstone (who also serves as the chair of the board) said she has "tremendous confidence" in the new leadership.

Persons: Bob Bakish, David Ellison, Shari Redstone, —, Shari, David Ellison's Skydance, Larry Elison, George Cheeks, Chris McCarthy, Brian Robbins, Bakish, David Ellison's Organizations: Paramount, Service, Oracle, Bloomberg, — CBS, Showtime, MTV Entertainment Studios, Paramount Media Networks, Nickelodeon, Board, Paramount Global, Hollywood

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