Stock Market Today, Feb. 27: Paramount Skydance Rallies as Warner Bros. Deal Reshapes Streaming Landscape
Paramount Skydance (NASDAQ:PSKY), a media and entertainment company worldwide, closed Friday at $13.51, up 20.84%. The stock moved higher after Warner Bros. Discovery agreed to be acquired by Paramount Skydance and Netflix declined to match Paramount’s $31-per-share bid.
The company’s trading volume reached 90.7 million shares, which is roughly 771% above compared with its three-month average of 10.4 million shares. Paramount Skydance went public in 2005 and has fallen 49% since its IPO.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) slipped 0.43% to 6,878, while the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 0.92% to 22,668. Within media and entertainment, industry peers Walt Disney (NYSE:DIS) closed at $106.05, up 0.46%, and Comcast (NASDAQ:CMCSA) ended at $30.96, gaining 0.36%, as investors reassessed streaming and TV asset portfolios.
What this means for investors
Paramount Skydance surged after Warner Bros. Discovery agreed to be acquired in a roughly $110 billion deal, cementing one of the largest media consolidations in recent years. Netflix’s decision not to match Paramount’s $31-per-share bid reduced competitive uncertainty and cleared the way for the transaction.
Paramount reported a $573 million fourth-quarter loss, missed earnings expectations, and lowered near-term revenue guidance, highlighting ongoing profitability challenges for legacy media and streaming platforms.The proposed merger would combine major film studios, cable networks, and streaming assets amid high content costs and slowing subscriber growth. Investors will be watching whether the merger can increase direct-to-consumer profits and expand subscriber engagement across its combined content library.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends Comcast. The Motley Fool has a disclosure policy.
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