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Stock markets showed signs of weakness on December 17, with GEV falling 10.50%, after a Federal Reserve official called for a pause on interest rate cuts following new jobs data.
Udemy (UDMY) stock rose 12.66% on December 17, leading a mixed consumer sector where the broader Consumer Staples Select Sector SPDR Fund (XLP) gained only 0.47%.
Paramount Skydance (PSKY) experienced heavy, directionally bearish put options trading on December 16, with volume reaching 1.1 times the expected level and a Put/Call ratio of 1.72, as the stock fell 2.85%.
Paramount (PSKY) shares fell 2.4% after multiple analysts issued 'Sell' ratings, citing valuation concerns following the company's hostile takeover bid for Warner Bros. Discovery.
Warner Bros. Discovery is expected to reject a hostile $108.4 billion all-cash bid from Paramount Skydance, choosing to proceed with its existing $82.7 billion cash-and-stock agreement with Netflix. The decision signals a complex valuation calculus, prioritizing strategic alignment over a higher immediate payout, even as the Netflix deal faces significant regulatory headwinds in both the U.S. and Europe.
Corporate acquisition activity intensified with two major announcements: IBM plans to acquire data-streaming firm Confluent for $11 billion, and Paramount Skydance has launched a hostile bid to acquire all of Warner Bros. Discovery, challenging a prior agreement with Netflix.
Netflix has entered exclusive negotiations to acquire the studio and streaming assets of Warner Bros. Discovery. The bid, reportedly valued at $28 per share, positions Netflix to absorb major franchises but invites significant regulatory scrutiny and protests from rival bidders.