Media trio heads into earnings amid spinoff news, merger scrutiny
Comcast (CMCSA) reports July 23, while Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) follow on August 4 and 6. Here's what could move the stocks: OUTLOOK: Comcast is expected to post Q2 EPS of 97c on $29.2B in revenue. Paramount's consensus sits at 16c and $6.9B, while Warner Bros. Discovery is projected to report a diluted loss of (12c) per share on $9.23B in revenue. STOCK ACTION: Comcast shares are up roughly 6% over the past month, recently near $24. Paramount Skydance and Warner Bros. Discovery are down about 11% and 4%, respectively. PARAMOUNT-WARNER DEAL: A U.S. District Judge ordered Paramount Skydance and Warner Bros. Discovery to pause their merger for 14 days after California and 11 states filed suit on July 13. On the flip side, the European Commission has approved the deal with conditions. Earlier last month, the Antitrust Division of the U.S. Department of Justice had cleared the merger, saying that competition in SVOD is unlikely to be harmed. COMCAST SEPARATION: Comcast plans to split into two publicly traded companies via a tax‑free spinoff of NBCUniversal and Sky, giving shareholders stakes in both entities. Deutsche Bank upgraded Comcast to Buy.
Comcast (CMCSA) reports July 23, while Paramount Skydance (PSKY) and Warner Bros.
Discovery (WBD) follow on August 4 and 6.
Here's what could move the stocks: OUTLOOK: Comcast is expected to post Q2 EPS of 97c on $29.2B in revenue.
Paramount's consensus sits at 16c and $6.9B, while Warner Bros.
Discovery is projected to report a diluted loss of (12c) per share on $9.23B in revenue.
STOCK ACTION: Comcast shares are up roughly 6% over the past month, recently near $24.
Paramount Skydance and Warner Bros.
Discovery are down about 11% and 4%, respectively.
PARAMOUNT-WARNER DEAL: A U.S.
District Judge ordered Paramount Skydance and Warner Bros.
Discovery to pause their merger for 14 days after California and 11 states filed suit on July 13.
On the flip side, the European Commission has approved the deal with conditions.
Earlier last month, the Antitrust Division of the U.S.
Department of Justice had cleared the merger, saying that competition in SVOD is unlikely to be harmed.
COMCAST SEPARATION: Comcast plans to split into two publicly traded companies via a tax‑free spinoff of NBCUniversal and Sky, giving shareholders stakes in both entities.
Deutsche Bank upgraded Comcast to Buy.