Flutter Entertainment Plc (NYSEFLUT) reported Q4 financial results with revenue of $3.79B, up 14% Y/Y but below consensus. Adjusted EPS of $2.94 beat expectations and the company projects a strong FY25 outlook with revenue of $15.48B-$16.38B and adjusted EBITDA of $2.94B-$3.38B. FLUT shares are up 2.19% premarket on the news.
BofA Securities analyst Justin Post upgraded Expedia to Buy and raised the price target to $221. While Expedia faced sentiment challenges due to soft B2C nights growth and revenues compared to peers, the analyst notes trends can improve in 2025 due to easier comps and better positioning at VRBO and Hotels.com.
Warner Bros. Discovery, Inc (WBD) stock climbed after the Board approved new corporate structure to enhance strategic flexibility. Stock surged 33% in last 30 days.
Royal Caribbean reports mixed Q3 results with revenue of $4.89B (missing consensus) and adjusted EPS of $5.20 (above consensus); sees Q4 net yields increase and adjusted EPS below estimate. Goldman Sachs analyst says fundamentals remain strong with anticipated demand for 2025, long-term estimates may rise.
Warner Bros. Discovery is set to launch its streaming service Max in Southeast Asia on November 19, expanding its global reach amid competitor cutbacks in content investment.
Channing Dungey will expand her role to oversee Warner Bros. Discovery's cable networks next year, as Kathleen Finch retires amid declining cable revenues.
The world's biggest economy’s growth accelerated in the second quarter, primarily driven by solid consumer spending and higher business investment despite high interest rates.
Hyatt Hotels is reportedly nearing a deal to acquire boutique hotel operator Standard International, expanding its luxury properties in prime leisure spots like London, Ibiza, and the Maldives. Negotiations are in advanced stages.
Paramount Global to merge with Skydance Media, forming New Paramount with an enterprise value of $28 billion. Skydance investors to own 70% of pro forma shares. David Ellison will lead as Chairman and CEO. PARA stock up 4.23% premarket.
Paramount Global shares rise as Skydance Media reportedly agrees to acquire National Amusements Inc. and merge with Paramount. This deal aims to strengthen Paramount's competitive position in the media landscape.
DoorDash faces a downturn as New York Attorney General Letitia James secures a settlement over biased hiring practices. The company's rejection of applicants with criminal records violated state laws, sparking a $75,000 penalty. Under the agreement, DoorDash will reevaluate applicants, revise policies, and compensate wrongfully rejected individuals.
Cinemark Holdings (CNK) reported Q1 2024 sales of $579.20M, beating analyst consensus of $560.38M. EPS of $0.19 beat consensus loss of $(0.20). Admissions and concession revenue decreased, but average ticket price and concession revenue per patron held steady. The company has plans to open new theaters and screens over the next two years. It generated $70.7M of adjusted EBITDA and held $788.6M in cash as of March 31, 2024. Despite a 3.81% premarket decrease, CNK stock has gained 4% in the last 12 months.
Paramount Global (PARA) & Skydance Media are moving towards a $5B merger, led by David Ellison's Skydance & private equity firms. Ellison to be CEO, ex-CEO to leave. Alternative options explored. Apollo & Sony in talks for buyout. PARA stock up 9.9% to $12.04.
Paramount Global's studio receives $11 billion bid from Apollo, part of a strategic review. Skydance Media also offers a merger deal. Shari Redstone considers options for the media conglomerate.
This Fourth July will be a celebration of not only freedom but also economic growth. Along with the spirit of Americans, this Independence Day should lift revenues and profits in various corners.
One of the biggest trends to watch in 2021 continues to be the reopening of the economy as it relates to the increased rate of COVID-19 vaccinations and the lifting of restrictions in areas across the U.S. and globally.
One of the biggest trends to watch in 2021 continues to be the reopening of the economy as it relates to the increased rate of COVID-19 vaccinations and the lifting of...
