Key Takeaways PCE Data, Delayed Already from September, Is Still Not ReleasedNetflix Wins Bid for Warner Brothers DiscoveryPre-markets Had Been Positive but Sank Prior to the OpenFriday, December 5, 2025Pre-market futures had been up across the board, but have fallen off the table in recent minutes. We’re now 25 minutes before the opening bell, and we still have yet to see the Personal Consumption Expenditures (PCE) data this morning, which was already delayed due to the government shutdown, and was due at ...

At the University of Victoria in British Columbia, Rowan Cheung sat through hours of lectures but says he retained nothing. He dropped out and turned to YouTube to learn technical skills like coding, design and marketing. In 2023, he founded The Rundown AI, a Vancouver-based media company that now has 2 million newsletter subscribers, 1.5 million followers across social media (including Cheung's own accounts) and podcast interviews with tech titans including Meta's Mark Zuckerberg and Microsoft's Satya Nade ...

Core Viewpoint - Wells Fargo & Co has secured a co-advisory role in Netflix Inc.'s planned acquisition of Warner Bros. Discovery Inc., highlighting the bank's strategy to enhance its investment banking presence and secure significant M&A mandates [1][3]. Group 1: Deal Details - Wells Fargo is providing a $59 billion bridge loan for the Netflix-Warner Bros. deal, in collaboration with BNP Paribas and HSBC, marking the largest loan commitment by a single bank for an investment-grade bridge facility at $29.5 billion [2]. - The total enterprise value of the acquisition is approximately $82.7 billion, which includes debt [2]. Group 2: Strategic Positioning - This achievement is part of Wells Fargo's broader strategy to build a competitive investment banking franchise to rival leading firms like JPMorgan Chase and Goldman Sachs [3][4]. - Under CEO Fernando Rivas, the bank aims to leverage its status as a major U.S. business lender to gain advisory roles in M&A transactions [4]. Group 3: Market Impact - With the Netflix-Warner Bros. transaction, Wells Fargo has advised on two of the largest M&A deals of 2025, including a $72 billion deal for Norfolk Southern Corp. and other significant transactions [5]. - This success has propelled Wells Fargo to the No. 4 position in M&A advisory rankings, up from No. 6 [5]. - Other banks involved in the deal, such as Moelis & Co. and Allen & Co., have also seen improvements in their advisory rankings as a result of this transaction [6].

Interesting. Kevin Hanks live at the CBOE for our pre-built playbook is with us. Of course, we're waiting on the PCE at 10 a.m. Let's uh first just start big picture. How you feeling this Friday morning.>> Good morning, Nicole. Yeah, we seem to be cruising into the end of the week with big events on the horizon. The Fed meeting that will be obviously the announcement.Do they cut. Will it be will there be dissents. Then Jerome Pal's press conference.Then we get the uh summary of economic pro projections that ...

Morning Brief anchor Julie Hyman breaks down the latest market news for December 5, 2025. Netflix announced it is buying Warner Bros. Discovery's studios and streaming unit in a deal valued at nearly $83 billion. Citi media and entertainment senior analyst Jason Bazinet shares his take on the deal. Meanwhile, more top executives are leaving Apple. Yahoo Finance Tech Editor Dan Howley helps make sense of the latest departures. #youtube #stocks #Netflix #WarnerBros #Apple About Yahoo Finance: Yahoo Finance pr ...

Group 1: Netflix and Warner Brothers Discovery Deal - Netflix has reached a $72 billion cash and stock deal to acquire Warner Brothers' movie and streaming assets, marking a significant strategic shift for the company [2][10][40] - The acquisition includes iconic franchises such as Harry Potter, Game of Thrones, and DC, allowing Netflix to strengthen its content library and keep these assets away from competitors like Paramount and Comcast [12][46] - This deal is seen as surprising, as analysts had previously given a higher probability of Paramount winning the bidding war [9][41] Group 2: Implications for the Streaming Industry - The acquisition is expected to widen the gap between Netflix and smaller streaming services, making it more challenging for them to compete effectively [47][58] - Regulatory scrutiny is anticipated, particularly regarding the streaming side of the deal, as Netflix becomes the largest player in the market [55][56] - Paramount is likely to continue pursuing its interests in Warner Brothers' assets, indicating that the competitive landscape may still evolve [16][56] Group 3: Apple Executive Departures - Apple is experiencing significant executive turnover, with key figures such as COO Jeff Williams and AI chief departing, raising questions about the company's future direction and succession plans [5][20][30] - Despite the management changes, Apple's stock has performed well, up about 12% this year, driven by strong iPhone sales [6][25] - The challenges in Apple's AI initiatives, particularly with Siri, have been highlighted as a concern, but the overall company health remains stable [21][29] Group 4: Economic Data and Market Reactions - Investors are awaiting the release of personal consumption expenditure (PCE) data, which is crucial for understanding inflation trends ahead of the Federal Reserve's rate decision [3][31] - The expected PCE data for September indicates a year-over-year increase of 2.8%, slightly down from 2.9% in August, which may not significantly alter the Fed's approach [32][34] - Wall Street anticipates that the Fed will lower rates next week, contributing to a positive outlook for stocks [4][34]

Core Insights - The earnings season indicates that US large-cap companies continue to outperform expectations, with S&P 500 earnings 6.3% higher than anticipated, while all sectors except Communication Services showed positive surprises [3][4][7] - Future earnings expectations for the S&P 500 have increased due to positive earnings surprises, suggesting continued growth potential for US large-cap companies [6] - The annualized trend for US large-cap earnings is a positive 13.1% year-over-year, supported by an 8.3% revenue growth, with notable strength in Financials and Industrials [7][8] Earnings/Revenue Surprises - US large-cap earnings results remain strong, with small-caps also showing improvement for the second consecutive quarter [5] - All 11 sectors reported positive revenue surprises, alleviating concerns about the impact of tariffs on earnings [4][5] Analyst Adjustments - Analysts have revised their earnings expectations upward in response to the positive earnings surprises observed during the quarter [6] Earnings/Revenue Trends - The technology sector has demonstrated exceptional performance, with an annualized earnings growth of 29%, justifying its strong market performance [8] - Small-cap earnings are improving but show more inconsistency compared to large-caps, with potential for growth in sectors like technology, industrials, and healthcare [18] - European equities have shown improvement, but results are inconsistent across sectors, with a 3% earnings surprise compared to 6.7% in the US [18] - Japan's earnings have rebounded strongly, flipping all indicators to positive, although consistency remains a concern [18] Market Outlook - The overall strength of the US economy has overshadowed potential disruptions from tariffs, with strong earnings from AI-related segments and signs of growth in value-oriented sectors [13] - The company maintains an overweight position in US large-cap stocks while selectively investing in Europe and Japan, focusing on value and financial sectors [14]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Points - Sanoma Corporation has signed a EUR 220 million syndicated term loan facility with a maturity date of 16 March 2029, including two one-year extension options [1] - The term loan will be utilized to prepay a EUR 119 million term loan and refinance a EUR 150 million hybrid bond on the reset date of 16 March 2026, with repayments supported by improved operating cash flow [2] - The transaction is coordinated by ING Bank and Nordea Bank, with additional participation from several other banks [3] Company Overview - Sanoma is an innovative learning and media company, committed to maximizing its positive impact on society while minimizing its environmental footprint, aligning with the UN Sustainable Development Goals [4] - The company offers a range of learning products and services aimed at helping teachers develop children's talents, including both printed and digital content for various educational levels [5] - Sanoma operates across Europe, employing nearly 5,000 professionals, with net sales of approximately EUR 1.3 billion in 2024 and an operational EBIT margin of 13.4% [6]

Core Viewpoint - The article discusses the potential for stock splits in 2026 for Meta Platforms, ASML, and Eli Lilly, highlighting their strong earnings growth and stock performance as key factors for these splits [3][4][13]. Meta Platforms - Meta Platforms is predicted to execute a 5-for-1 stock split in 2026, marking its first split since its IPO 14 years ago [4]. - The company has a market capitalization of $1,667 billion and a current share price of $661.53, with a gross margin of 82% [6]. - Meta's business model, driven by its family of apps, generates stable cash flow, making it resilient during economic downturns [7]. - The company is expected to replace Verizon Communications in the Dow if it proceeds with the stock split [7]. ASML - ASML is anticipated to issue a 10-for-1 stock split in 2026, with its share price currently over $1,100 and a market cap of $430 billion [8][11]. - The company holds a monopoly on extreme ultraviolet (EUV) machines essential for advanced chip fabrication, positioning it well for future earnings growth [9]. - ASML is viewed as a key player in the AI chip market, with expectations of becoming Europe's first $1 trillion company by 2035 [12]. Eli Lilly - Eli Lilly is also predicted to implement a 5-for-1 stock split in 2026, having seen its stock price surge over 600% in the last five years, reaching a market cap of $959 billion [13][17]. - The company's growth is largely attributed to its successful GLP-1 medications, with projected earnings per share of $23.69 in 2025 and $32.18 in 2026, reflecting a 35.8% increase [14]. - Eli Lilly's diverse drug portfolio and strong gross margin of 83.03% position it well for continued earnings growth, making it a prime candidate for a stock split [17].