The deal for Netflix (NFLX) to buy Warner Bros. Discovery (WBD) is not assured. Paramount Skydance (PSKY) submitted a new bid to buy WBD stock at $32 per share. According to a report from Variety, WBD agreed to consider Paramount’s “best and final” offer.
Paramount discussed an offer that was not yet final at a price over $31 with a WBD board member. In addition, it offered a $2.5 billion termination fee payable to Netflix if it did not get regulatory approval.
PSKY stock closed at $10.56. The short interest in the stock is 5%.
JPMorgan Chase (JPM) fell by over 4% despite announcing plans to spend $2 billion weekly. It will invest organically, spending as much as $105 billion in 2026. To stay ahead of its bank peers, the firm will invest in technology that helps its customers. In contrast, companies that spend blindly in AI technology might incur negative returns if customers do not benefit.
Shares of JPM, Bank of America (BAC), Citigroup (C), Visa (V), and Mastercard (MA) all traded lower. American Express (AXP) and Capital One (COF) fell by 7% and 9%, respectively. Financials are likely pricing in the negative impact that the new 15% tariffs would have on global trade.
Asset managers fared poorly. Blackstone (BX), BlackRock (BLK), and KKR (KKR) continued to trade lower.
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