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Media Moguls To Gather At Annual Allen & Co. Sun Valley Retreat Amid Streaming Rethink, Economic Woes
The mountains are as gorgeous as ever, the deal climate not so much as boutique investment bank Allen & Co. prepares to host its annual Sun Valley retreat. After guests arrive on Tuesday, official activities get under way Wednesday.
The annual ritual of media-mogul whitewater rafting and shop talk is a 40-year…
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12 Comments Comment on Media Moguls To Gather At Annual Allen & Co. Sun Valley Retreat Amid Streaming Rethink, Economic Woes
Markets, Media Shares End Session Sharply Lower Amid Recession Fears – Update
Stocks posted steep losses across the board Thursday after a major rate hike by the U.S. central bank and comments by Fed chief Jerome Powell exacerbated recession fears.
The Dow plunged by more than 700 points, closing below 30,000 for the first time since January 2021. The Nasdaq sank by more than 4%, down by more…
Investors Punish Showbiz Shares In Broad Market Plunge On Inflation, Interest Rates, War
The S&P 500, down more than 3% in late-morning trade, fell into bear market territory Monday – defined by a dip of more than 20% from its most recent high — with little upbeat news on the horizon and not much going well on three key fronts: surging inflation, rising interest rates and the Russia-Ukraine War.
The…
Stocks Sink On Soaring Inflation; Netflix Pummeled By Goldman Downgrade
Dismal monthly inflation data hit stocks Friday with tech, internet and media taking a beating and Goldman Sachs slapping rare 'sell' rating on Netflix and a few others.
The bank downgraded the streamer from 'neutral' on economic and competitive jitters and cut its price target to $186 from $265 – the lowest on the…
Snap Shares Plunge 30% In Late Trade As It Cuts Q2 Outlook On “Faster Than Anticipated” Decline In Economic Climate
Shares of Snapchat parent Snap are more than 30% in late trading after the company said second quarter financials will disappoint Wall Street "as the macroeconomic environment has deteriorated further and faster than anticipated."
In an SEC filing Monday afternoon after market close, Snap said revenue and adjusted…
Stocks Sink As Market Woes Hit Showbiz Shares; S&P Falls Most Since June 2020 & Dow Sheds 1,100 Points
Media shares felt the pain as markets swooned Wednesday with glum earnings and outlooks from major retailers reflecting broader economic woes.
Target and Walmart, usually considered safe stocks, reported a big hit from higher transportation costs as gas prices soar, without any relief in sight. It's hard for them to…
Fund Manager Bill Ackman’s Pershing Square Sells Netflix Stake; “We Have Lost Confidence In Our Ability To Predict Future Prospects”
Bill Ackman’s Pershing Square Holdings, which made a high-profile purchase of Netflix shares in January after a dip in the stock price, said it sold the stake today, having “lost confidence in our ability to predict the company's future prospects with a sufficient degree of certainty.”
Pershing’s portfolio “requires a…
Warner Bros. Discovery Stock Ends Higher In Volatile Nasdaq Debut; Wall Street Sees Upside, Weighs In On Streaming, Cable, Debt & Leadership
UPDATED with closing price: Warner Bros. Discovery shares had a volatile debut, rising early in the session, heading lower then ending the session higher as financial analysts dissected the newly combined entity following the deal’s close on Friday. Reports out today – and more will follow – range from a thumbs-up on W…
Netflix Stock Earns Upgrade From Longtime Wall Street Bear: “Hell Freezes Over”
One of the most stubborn (by his own admission) Netflix bears, Wedbush Securities analyst Michael Pachter, has issued a landmark upgrade on the streaming giant’s stock.
While he still doesn’t consider it a clear “buy,” Pachter raised his rating to “neutral” from “underperform,” with a 12-month price target of $342…
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By Dade Hayes
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ViacomCBS Shares Tumble Nearly 20% Day After Paramount Rebrand, Streaming Outlook – Update
UPDATED with closing stock price: Shares of the new Paramount Global ended Wednesday’s session down 18% in a tumble following yesterday’s quarterly earnings, forecasts and a virtual investor day focused on streaming. Wall Streeters have starting fretting at the high cost of content for DTC across the media industry…
Facebook Sheds $230B In Market Value, Stock Market Record – Update
UPDATED with closing price: Facebook shares closed down 26.4% in a market rout, knocking a record $230 billion off the company’s market cap.
PREVIOUSLY: A plunge in shares of Facebook parent Meta Platforms Facebook has erased more than than $200 billion of its market value, one of Wall Street's steepest dips…
Spotify CEO Says Last Few Days “Presented A Number Of Learning Opportunities,” Addresses Joe Rogan Controversy At Top Of Earnings Call – Update
UPDATED with CEO comments, stock price: Spotify CEO Daniel Ek took the bull by the horns, addressing the widening controversy over Joe Rogan in his opening remarks on a conference call with Wall Street analysts after the company’s fourth-quarter earnings report.
“Obviously, it's been a few notable days here at…
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