北京时间12月9日，美股三大指数集体收跌，道指跌0.45%，纳指跌0.14%，标普500指数跌0.35%。 大型科技股涨跌不一，英伟达、微软上涨，特斯拉跌超3%，市值蒸发约512.87亿美元（约合人民币3627.52亿元），谷歌跌超2%，亚马逊跌超1%，苹果、 Meta微跌。 | 185.575 +1.74% 英伟达 | | 3.16 | | --- | --- | --- | | US NVDA 185.590 盘后 0.01% | | 0.02 | | 谷歌Ａ | 313.720 -2.29% -7.34 | | | US GOOGL 314.050 園信 0.11% | | 0.33 | | 226.890 -1.15% 亚马逊 | | -2.64 | | US AMZN 227.125 盘后 0.10% | | 0.24 | | 特斯拉 | 439.580 -3.39% -15.42 | | | US TSLA 439.581 盘后 0.00% | | | | 苹果 | 277.890 -0.32% -0.89 | | | US AAPL - - 277.890 盘后 0% | | | | 491.0 ...

Core Viewpoint - Rosenblatt downgraded Netflix from Buy to Neutral and reduced its price target to $105 from $152 due to the uncertainty created by its acquisition of Warner Bros.' studios and HBO businesses [1][3] Group 1: Acquisition Details - Netflix announced an $83 billion enterprise-value agreement and a $72 billion equity-value deal for Warner Bros.' studios and HBO businesses, introducing significant strategic and execution risks [2] - The transaction is viewed as unlikely to yield justified financial returns on invested capital, with Netflix relying on broad, unspecified assumptions about leveraging Warner Bros.' content library [2] Group 2: Valuation and Rating Change - Due to heightened uncertainty, a more conservative valuation multiple of 25x enterprise value to 2026 estimated EBITDA was applied, resulting in a price target reduction of $47 to $105 [3] - The risk-reward profile no longer supports a bullish stance, leading to the downgrade from Buy to Neutral [3]

Joining me now is CNBC founder and contributor Tom Rogers. He's also a senior adviser to Versent Media, our soon-to-be parent company. Tom, does it matter which of these companies gets um Warner.Uh does it matter to the industry and how it goes forward from here. >> Uh thanks for having me, John. And let me just say at the outset, I'm speaking for myself and not verant on this.Um I I think certainly there are factions within the industry that uh seem to care. Uh labor has uh come out hard against Netflix. U ...

Industry Overview - The potential merger between Paramount and Warner is significant for the industry, with labor factions expressing concerns about Netflix's role in the deal [2][3] - If Paramount and Warner merge, it could lead to a reduction in the number of major studios, creating a more consolidated market [3] - The outcome of the merger will likely influence future M&A activity in the industry, as global scale is crucial for success in streaming [9][10] Company Analysis - Paramount is viewed as the weaker competitor in the current landscape, making the merger more critical for its growth and survival [7][8] - Netflix's acquisition of Warner is seen as less essential for its operations, although it would still be a strategic move [8] - The decision-making process for both companies will be influenced by data-driven strategies, but the ultimate valuation by shareholders will be the deciding factor [6][11]

Group 1: Nvidia and Skild AI - Nvidia's stock rose by 1.73% with a trading volume of $35.394 billion, as it is in talks with SoftBank Group for a financing round exceeding $1 billion for Skild AI, potentially valuing the company at approximately $14 billion [1][10] - Skild AI's valuation increased nearly twofold from $4.7 billion during its $500 million Series B funding earlier this year [1][10] - The company launched its first general-purpose AI model in July, adaptable to various tasks from logistics to household chores [10] Group 2: Tesla - Tesla's stock fell by 3.39% with a trading volume of $30.133 billion, as Morgan Stanley downgraded its rating for the first time in two and a half years, citing overvaluation [1][10] - Tesla's stock is trading at approximately 210 times its expected earnings for the next 12 months, making it the second most expensive company in the S&P 500 index [2][10] Group 3: Broadcom and Microsoft - Broadcom's stock increased by 2.78% with a trading volume of $12.041 billion, as Microsoft is in discussions to collaborate on designing future custom chips, potentially shifting from its current supplier, Marvell Technology [1][10] Group 4: Google - Google's Class A shares (GOOGL) declined by 2.29% with a trading volume of $10.512 billion, as the company announced plans to develop two types of AI glasses to compete with Meta's products [1][11] - The first AI glasses are expected to launch in 2026, with early hardware partners including Samsung Electronics and Warby Parker [11] Group 5: Netflix and Warner Bros Discovery - Netflix's stock dropped by 3.44% with a trading volume of $9.614 billion, as Paramount Global launched a $108.4 billion hostile bid for Warner Bros Discovery, complicating Netflix's recent acquisition of the company [1][13] - Netflix had previously won a bidding war to acquire Warner Bros Discovery's assets for $72 billion [13] Group 6: Micron Technology - Micron's stock rose by 4.09% with a trading volume of $4.942 billion, as Goldman Sachs anticipates strong quarterly performance due to increased investment in AI-related data center infrastructure [5][14] - Goldman Sachs projects Micron's Q3 revenue to reach $13.2 billion, exceeding Wall Street's consensus of $12.7 billion [14] Group 7: IBM and Confluent - Confluent's stock surged by 29.08% with a trading volume of $4.283 billion, as IBM announced plans to acquire the data streaming platform for approximately $11 billion [5][15] - This acquisition is expected to enhance IBM's capabilities in real-time data processing and is based on a five-year collaboration between the two companies [15]

Group 1 - Paramount Skydance has launched a hostile bid valued at $108.4 billion for Warner Bros Discovery [1] - This bid challenges a competing offer from Netflix, creating uncertainty in the media landscape [1] - The move signifies a significant shift in Hollywood's competitive dynamics among major media companies [1]

Netflix has agreed to buy Warner Bros. The proposed deal would bring together some of Hollywood’s most popular franchises. But in a twist, Paramount launched a hostile takeover offer for Warner Bros. Discovery.Here’s the lay of the land: https://t.co/zvF40poBPQ ...

Core Viewpoint - Netflix's acquisition of Warner Bros. Discovery for $72 billion marks a significant shift in the streaming industry, potentially solidifying Netflix's leadership while eliminating a competitor and securing valuable intellectual property [1][2]. Group 1: Acquisition Details - The acquisition would enhance Netflix's position as the leading streaming service and allow it to acquire valuable intellectual properties, including franchises like the DC Universe and Harry Potter [4]. - Paramount Skydance has made a $108 billion hostile bid for Warner Bros. Discovery, which could complicate Netflix's acquisition [1][2]. Group 2: Market Implications - The deal is expected to face regulatory scrutiny due to concerns about market concentration and the potential for Netflix to become even larger [6]. - Netflix has agreed to a $5.8 billion breakup fee if the deal is blocked, which represents about nine months of its free cash flow, indicating confidence in overcoming regulatory challenges [7]. Group 3: Consumer Perspective - A recent survey indicates that while cost is the primary reason for canceling streaming services, many consumers also cite not using services enough and paying for too many subscriptions as significant factors [8]. - The proliferation of streaming services has led to concerns about subscription fatigue, suggesting that the acquisition could address consumer needs for fewer, more comprehensive options [10][12]. Group 4: Competitive Landscape - The acquisition could prompt other streaming services to either counter Netflix's move or pursue their own acquisitions, indicating a potential shift in the competitive dynamics of the industry [11]. - The future of the streaming landscape may see fewer services, which could alleviate subscription fatigue but also lead to higher prices for consumers [12][13].

Core Viewpoint - Warner Bros. Discovery's agreement to sell to Netflix for $72 billion has been challenged by Paramount, which has made a higher offer of approximately $79.9 billion, leading to a potential protracted conflict in the media industry consolidation [1][4]. Group 1: Offers and Valuations - Paramount's offer is valued at about $79.9 billion, or $30 per share in cash, which is approximately $18 billion more than Netflix's cash-and-stock bid [4][5]. - Netflix's offer is a combination of cash and stock valued at $27.75 per share, totaling $72 billion, excluding debt, and does not include Warner-owned networks like CNN and Discovery [6]. Group 2: Strategic Implications - The competition for Warner Bros. Discovery is significant as it controls major entertainment properties, including Warner Bros. Pictures, HBO, and the Harry Potter franchise, which are crucial in the ongoing streaming wars [2][3]. - The outcome of this bidding war will influence the dynamics of the streaming industry and the overall media landscape [3]. Group 3: Regulatory and Shareholder Considerations - Both offers will undergo regulatory scrutiny, and Warner must inform shareholders by December 22 whether Paramount's offer is superior, allowing Netflix the chance to match or exceed it [3][7].

Simple question for you to start, Rich. What happens next. You know, it is really anyone's guess.You know, we've now got this hostile offer, tender offer from the Olsens and from Paramount. Obviously, shareholders are going to have to, you know, really look at this. I mean, you've got you know, the offers are very different, right.Because one is for just the streaming and studios and you're going to end up with a resulting sort of equity that is the cable network piece. And, you know, depending on how that' ...