"The producer price index came in hotter than expected, adding to inflationary concerns. The PPI index showed a 0.5% increase for the month. The Street was only looking for 0.3%. Even more concerning, core PPI, which excludes food and energy prices, recorded a 0.8% gain, much more than the 0.3% rise expected."
"Once our Board votes to adopt the Paramount merger agreement, it will create tremendous value for our shareholders. We are excited about the potential of a combined Paramount Skydance and Warner Bros. Discovery and can't wait to get started working together telling the stories that move the world."
"The company said it expects revenue from its key AI-optimized server business to double in fiscal year 2027, and promised to return more cash to shareholders. It also announced a 20% dividend hike and another $10 billion in stock buybacks."
The S&P 500, Dow Jones, and Nasdaq all declined on Friday due to higher-than-expected wholesale inflation and weakness in technology stocks. The producer price index rose 0.5% monthly, exceeding the anticipated 0.3%, with core PPI climbing 0.8% versus expected 0.3%. Gold prices increased while Bitcoin declined. Netflix shares surged approximately $8 in premarket trading after withdrawing from a Warner Bros. Discovery acquisition deal following Paramount's increased bid of $31 per share. Dell experienced significant gains exceeding 11% in premarket trading, driven by strong earnings results and announcements of doubled AI server revenue expectations by fiscal 2027, a 20% dividend increase, and $10 billion in additional stock buybacks.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]