Investors who assumed that the saga in Netflix’s (NFLX) bid for Warner Bros. Discovery (WBD) ended should watch Paramount Skydance (PSKY).
On Monday, PSKY stock gained 9.02%, potentially breaking a downtrend that began in late September. The firm did not give up on its bid to buy WBD. It teamed up with Affinity Partners, Public Investment Fund (“PIF”) of Saudi Arabia, L’imad Holdings, and Qatar Investment Authority as outside financing partners. The firms are offering $30 in cash per share to buy the firm.
Paramount Skydance CEO David Ellison said that the company believes the WBD Board of Directors is pursuing an inferior proposal. The higher bid should win WBD shareholder support.
Memory chip supplier Micron (MU) might potentially break out above its $26.58 high. Memory prices are soaring in the PC market. Micron is exiting the consumer PC market, however, and pivoting its sales to chips for the AI server sector.
Air Products (APD) plunged by 9.45% on Monday. The firm discussed its partnership with Yara International on low-emission Ammonia projects. Markets do not see many benefits in the deal.
APD stock trades at a premium. The forward P/E of 20 times increased the risk of the stock finding new lows in the coming weeks.
