Core Viewpoint - The Justice Department is investigating Netflix for potential anticompetitive practices related to its proposed acquisition of Warner Bros. Discovery, which may indicate broader scrutiny of Netflix's business model [1][9]. Group 1: Investigation Details - The DOJ has issued a civil subpoena to another unnamed entertainment firm, seeking information on any exclusionary conduct by Netflix that could entrench its market power [2]. - The investigation may provide the DOJ with a legal basis to challenge the Warner Bros. deal if evidence of monopolistic behavior is found, although the investigation is expected to take a considerable amount of time [5][6]. Group 2: Proposed Deals - Netflix has agreed to acquire Warner Bros. Discovery's studio and streaming business for $72 billion, paying $27.75 per share, which could create a significant player in the entertainment industry [3]. - Paramount has made a $77.9 billion hostile bid for the entire Warner Bros. Discovery company, arguing that its offer provides better value compared to Netflix's proposal [3][4]. Group 3: Market Impact - Concerns regarding the investigation have negatively impacted Netflix's stock price, which has decreased by over $160 billion in market value in the past six months [10]. - If the merger between Netflix and Warner Bros. Discovery proceeds, the combined entity would control approximately 30% of the U.S. subscription service market, raising antitrust concerns [11]. Group 4: Company Responses - Netflix's legal representatives assert that the DOJ is conducting a standard review of the merger proposal and have not indicated any separate monopolization investigation [6][8]. - A Netflix spokesperson stated that the company is engaging constructively with the DOJ as part of the standard review process for the acquisition [8].

Once Upon a Farm, the children’s organic food company co-founded by actress Jennifer Garner, fetched an $844.9 million valuation as its shares opened 17% above the offer price in its New York Stock Exchange debut on Friday.The Berkeley, Calif.-based company’s stock opened at $21 apiece, compared with the $18 offer price. The firm and some of its backers sold roughly 11 million shares within the marketed range of $17 to $19 to raise about $198 million.Consumer-focused companies are becoming more optimistic a ...

Wall Street is bouncing back Friday from losses taken earlier in the week, as technology stocks recover some of their drops and bitcoin halts its plunge, at least for now.The Dow Jones Industrial Average surged 1,035 points, or 2.1% to almost 50,000, and the Nasdaq composite was 2% higher. The blue chip index had hit an all-time high of 49,980 earlier.The S&P 500 rose 1.7% and was heading for just its second gain in the last eight days. 4 The Dow hit an all-time high of 49,885 in intraday trading Friday. ...

Stellantis shares plummeted 25% Friday after the company revealed a $26.5 billion charge related to an overhaul of its business – including a retreat from its electric vehicle ambitions. The automaker – home to brands like Jeep, Ram and Dodge – were recently down $2.43 from the previous day’s close at $7.11 in early trading on the New York Stock Exchange. Shares in the automaker also slid by a quarter of their value in Milan.If those losses last through Friday afternoon, it would mark the stock’s largest on ...

Toyota Chief Executive Koji Sato will step down after just three years at the helm of the world’s largest automaker, the company said on Friday, and will be replaced by chief financial officer Kenta Kon.The reshuffle, which will see Sato take on the role of vice chairman and chief industry officer, comes as the automaker has faced increasing scrutiny over its planned buyout of subsidiary Toyota Industries, a deal that minority investors have criticized as lacking transparency and heavily underpriced.The man ...

Amazon on Thursday projected a surge of more than 50% in capital expenditures this year, joining its peers in a spending spree to build out artificial-intelligence infrastructure, and sending its shares down 9% in after-hours trading.It is the latest sign that Big Tech will not be hitting the brakes any time soon on hefty AI investments. Amazon shares closed down 4.4% during regular trading as worries deepened about the enormous cost of the artificial-intelligence boom.The top four hyperscalers – Amazon, Mi ...

Revenue for The Post’s parent company News Corp rose 5.5% to $2.36 billion in the second quarter of its fiscal year, with execs crediting the company’s Dow Jones and digital real estate divisions for the growth.Revenue for the quarter ended Dec. 31 came in slightly higher than analysts had expected, with EBITDA increasing 9% to $521 million.“We are delighted to report excellent second quarter results with both revenue and profitability growth accelerating from the prior quarter, and we see favorable signs f ...

U.S. employers’ announced job cuts surged in the month of January and hit the highest level since 2009, a new report shows.Global outplacement and executive coaching firm Challenger, Gray & Christmas found that employers announced 108,435 job cuts in January – an increase from the 49,795 cuts announced in the same month last year. Job cuts increased 205% from December, when there were 35,553 layoffs announced.This January saw the most layoffs for the month since 2009, when 241,749 cuts were announced. It wa ...

Gemini, the crypto firm run by Cameron and Tyler Winklevoss, is cutting up to 25% of its workforce and ending operations in the United Kingdom, European Union and Australia – a retreat that comes during a sustained bitcoin selloff.The layoffs will impact about 200 employees across Gemini’s operations in the US, Europe and Singapore, the company said in a filing. The Winklevoss twins said the cuts would allow Gemini to “double down on America” and serve US customers.“These foreign markets have proven hard to ...

Market Overview - The S&P 500 dropped to an over two-week low, while the Nasdaq sank to its lowest level in more than two months, driven by renewed pressure on the AI theme following Alphabet's spending plans and Qualcomm's downbeat forecast [1][3] - The Dow Jones Industrial Average fell nearly 400 points, or 0.8%, to 49,113, with the S&P 500 losing 0.9% and the Nasdaq dropping 230 points, or 1% [1][3] Company-Specific Developments - Alphabet's shares fell over 3% after announcing it would double its capital expenditure this year, indicating an aggressive push in the AI sector [3][8] - Qualcomm's stock slid 8.2% after forecasting second-quarter revenue and profit below estimates, contributing to the overall market decline [3] - Microsoft and Tesla also experienced declines of 3.4% and 3.7%, respectively, as the pressure spread across tech mega-caps [3] Investment Trends - Big Tech is expected to invest more than $500 billion into infrastructure this year, raising concerns about high valuations and the timing of returns [4] - The CBOE volatility index rose 3.8 points to 20.49, reaching an over two-month high, reflecting increased market anxiety [4] Sector Performance - The S&P 500 software and services index fell 3.2%, marking a seventh consecutive session in the red and erasing approximately $830 billion in market value since January 28 [10] - Software and data services stocks, such as ServiceNow and Salesforce, saw declines of 5% and 4%, respectively, as investors reacted to disappointing earnings [6] Market Sentiment - There is a growing sentiment that rapidly improving AI tools may negatively impact demand for traditional software, leading to reduced growth expectations across the sector [7] - Amid risk-off sentiment, silver and gold resumed a decline, with silver plunging almost 13% [10][11] - The market is witnessing a rotation into cheaper, overlooked sectors, with consumer staples being the only sector trading in the green [13]