Market Overview - Markets were mixed with the S&P 500 gaining 0.2% and the Dow Jones Industrial Average adding 1%, while tech stocks fell, with the Nasdaq Composite dropping 0.25% [2] - The current market themes include earnings, the government shutdown, and interest rates [2] Earnings Insights - Third-quarter earnings have risen over 13% year-over-year, exceeding revenue growth, indicating increased efficiencies [3] - The rise in profits amidst mounting layoffs suggests that AI adoption is proving profitable for companies investing in it [3] Government Shutdown Impact - The government shutdown is a significant factor affecting interest rates and is expected to be addressed by the House soon [4] - The reopening of the government will lead to the resumption of economic data, which is crucial for the upcoming Federal Reserve meeting [4] Federal Reserve Meeting - The next Federal Reserve Open Market Committee meeting is on December 10th, with a 65% chance of a quarter-point interest rate cut [5] - Disagreements among Fed members regarding the interest rate cut were reported, indicating potential volatility in the markets upon the resumption of government functions [5] Company Earnings to Watch - Cisco Systems is expected to report earnings of $0.98 per share, with its commentary on global economic conditions being of particular interest [6] - Disney's upcoming earnings report is anticipated to address potential impacts from reduced holiday travel and ongoing negotiations with YouTube TV regarding Disney-owned channels [8] Stock Movements - Advanced Micro Devices (AMD) expects increased revenue growth due to strong data center demand, with shares rising nearly 5% in premarket trading [9] - Shares of OKLO Inc., a supplier of energy for data centers, have increased by 3% following their earnings report [9] Commodities and Market Sentiment - Equities are nearing all-time highs amid hopes for an end to the government shutdown, raising questions about whether this is a "buy the rumor, sell the news" scenario [10] - Bitcoin is approaching the $100K mark, a key technical level, while metals like silver and gold are regaining ground after a pullback, often seen as safe havens [10]

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This is going to report quarterly results tomorrow morning. The company is in a dispute. And as you know, with YouTube TV leaving Disney owned channels The Dark on the service.Joining us now, Tom Rogers, founder, one of the founders, says it says you're the sole founder here of CNBC. Thank you for doing that. Tom, success has many lived.>> Up to the promise, Joe. >> Many, many fathers. You're also a senior advisor and a CNBC contributor.You're you're all over the place with all kinds of hats. What. This.I d ...

Group 1 - European stocks are expected to open higher as traders anticipate the end of the longest government shutdown in U.S. history, with a spending bill heading to the House for a likely pass [1] - U.S. stocks ended mixed, with concerns about AI-related stocks impacting performance despite progress towards ending the government shutdown [4] - The Dow Jones Industrial Average rose 1.2% to a record close, while the S&P 500 increased by 0.2%, and the Nasdaq Composite fell by 0.3% after SoftBank sold its entire stake in Nvidia Corp for $5.83 billion [5] Group 2 - Economists are predicting a quarter-point rate cut due to a deteriorating labor market and cooling inflation, with attention on upcoming German inflation data for insights into the European Central Bank's policy [2] - Major companies such as Cisco, Disney, and Applied Materials are set to report their financial results this week, which could influence market sentiment [2] - European stocks closed at a record high, with the pan-European Stoxx 600 rising by 1.3%, driven by expectations of U.S. shutdown relief and Bank of England rate-cut bets [6]

Market Overview - The Dow Jones Industrial Average surged to a record high close, driven by progress toward ending the U.S. government shutdown, while Nvidia and other AI-related companies faced renewed valuation concerns [8] - The S&P 500 climbed 0.21% to end at 6,846.61 points, while the Nasdaq declined 0.25% to 23,468.30 points [2][3][8] - The Dow has gained almost 13% in 2025, lagging behind the S&P 500's 16% rise and the Nasdaq's nearly 22% increase [8] Sector Performance - Ten of the 11 S&P 500 sector indexes rose, with health care leading the way, up 2.33%, supported by gains in Eli Lilly, Johnson & Johnson, and AbbVie, each rising more than 2% [8] - Occidental Petroleum edged up 0.1% after beating third-quarter profit expectations [8] - Paramount Skydance surged almost 10% following the announcement of cost cuts and plans to invest $1.5 billion in its streaming and studio divisions [8] Employment Data - Sentiment was dampened by ADP's preliminary payroll figures indicating that private employers shed an average of 11,250 jobs per week for the four weeks ended October 25 [8] Market Sentiment - Advancing issues outnumbered falling ones within the S&P 500 by a 2.2-to-one ratio, with the S&P 500 posting 30 new highs and two new lows, while the Nasdaq recorded 104 new highs and 128 new lows [7][8] - U.S. bond markets were closed for the Veterans Day holiday, resulting in light trading volume of 15.3 billion shares, compared to an average of 20.8 billion shares over the previous 20 sessions [7][8]

Group 1 - The Gabelli Multimedia Trust Inc. (GGT) is a closed-end fund (CEF) focused on long-term growth through investments in telecommunications, media, publishing, and entertainment industries [1] - GGT was established in November 1994 and employs a leverage ratio of approximately 33% [1]

Core Viewpoint - Paramount Skydance Corp's stock has surged nearly 11% to $16.80, driven by a positive fourth-quarter revenue forecast and a $1.5 billion programming investment plan for the upcoming year [1]. Group 1: Financial Performance - The third-quarter earnings report is the first since the merger of Paramount Global with Skydance PSKY [2]. - The stock has increased by 61% year-to-date, indicating strong market performance [3]. - The company last raised streaming prices in June 2024, reflecting a strategic adjustment to rising content costs [3]. Group 2: Analyst Sentiment - Four brokerages have raised their price targets for the stock, with Benchmark increasing its target from $16 to $19 [2]. - Of the 24 brokerages covering the stock, 23 maintain "hold" or worse ratings, with a consensus 12-month price target of $13.25, representing a 21.3% discount to the current price [4]. Group 3: Strategic Initiatives - A new contract with Ultimate Fighting Championship (UFC) is set to drive price increases for the Paramount streaming service in the first quarter [2]. - The company is focusing on premium programming as part of its strategy following the merger [3].

Core Viewpoint - Walt Disney Co. is experiencing significant revenue loss, approximately $30 million per week, due to its ongoing dispute with YouTube TV, which has resulted in the blackout of ESPN, ABC, and other Disney-owned channels for about 10 million subscribers since October 30 [1][5][10]. Group 1: Financial Impact - Morgan Stanley analyst Ben Swinburne estimates that if the blackout continues for two weeks, Disney's revenue could decrease by $60 million, equating to about $4.3 million per day [5][6]. - Swinburne has revised Disney's quarterly net income estimate down by $25 million to $1.52 billion, indicating a potential earnings impact of about 2 cents per share [6]. - The blackout threatens Disney's viewership and affiliate payments linked to live sports broadcasts, highlighting the company's reliance on ESPN's carriage fees and advertising revenue [6]. Group 2: Subscriber and Market Reaction - YouTube TV is attempting to mitigate subscriber dissatisfaction by offering a $20 credit to affected customers, which could cost Google nearly $200 million if all subscribers redeem it [7]. - The ongoing dispute has led to millions of viewers missing key sports events, including significant NFL games [13]. - Disney executives have indicated that negotiations have stalled, with Disney accusing YouTube TV of seeking "below market" terms, while YouTube claims Disney is demanding higher fees than those charged to competitors [10][11]. Group 3: Future Considerations - Analysts suggest that Disney could potentially attract subscribers who leave YouTube TV to its own live-TV services, such as Hulu + Live TV, Fubo, and the ESPN app [12]. - Disney is scheduled to report its quarterly earnings soon, where executives are expected to address the financial impact of the blackout and the potential return of ESPN and ABC to YouTube TV [14].

Core Insights - Paramount Skydance (PSKY) plans to invest $1.5 billion in theatrical and direct-to-consumer platforms to enhance its content pipeline, leading to a 7.5% increase in PSKY shares [1] Financial Performance Overview - PSKY reported combined revenues of $6.7 billion for Q3 2025, flat compared to $6.73 billion in 2024, with a consensus estimate of $6.94 billion [4] - Operating income was $244 million in the successor period, compared to $80 million in the predecessor period, down from $337 million in Q3 2024 [5] - Adjusted OIBDA reached $655 million (15.9% margin) in the successor period, up from $297 million (11.5% margin) in the predecessor period, but down from $858 million (12.7% margin) in 2024 [6] Revenue Breakdown - Advertising revenues totaled $1.94 billion, down 11% year-over-year from $2.17 billion, while affiliate and subscription revenue increased 7% to $3.43 billion [7] - Theatrical revenue increased slightly to $112 million from $108 million, while licensing and other revenue declined 15% to $1.23 billion [8] Segment Performance - The Direct-to-Consumer segment saw pro forma revenue of $2.17 billion, a 17% year-over-year increase, with Paramount+ driving 24% revenue growth and adding 1.4 million subscribers [9][10] - The TV Media segment reported pro forma revenues of $3.80 billion, down 12% from $4.3 billion, with advertising revenue declining 12% to $1.47 billion [12] - The Filmed Entertainment segment reported pro forma revenue of $768 million, down 4% from $799 million, with a combined adjusted OIBDA loss of $49 million [14] Balance Sheet and Cash Flow - As of September 30, 2025, cash and cash equivalents totaled $3.26 billion, with total debt at $13.63 billion and free cash flow of $15 million for Q3 2025 [15] Future Outlook - For Q4 2025, PSKY expects total revenue between $8.10 billion and $8.30 billion, indicating 1%-4% year-over-year growth, and adjusted OIBDA between $500 million and $600 million [16] - For 2026, PSKY projects total revenues of $30 billion, representing approximately 4% year-over-year growth, and adjusted OIBDA of $3.5 billion [17]

Market Overview - The market is experiencing mixed signals with S&P 500 futures down over 0.2% and Nasdaq down about 0.5% ahead of the opening bell [3][4] - Monday saw a significant rally with S&P 500 gaining approximately 1.5%, but there is a pullback observed in AI stocks like Nvidia and Tesla [4][6] - Coreweave's stock is down more than 9% after disappointing 2025 sales forecasts despite beating quarterly expectations [5][41] Government Shutdown Impact - The longest government shutdown in history is expected to end soon, with the Senate voting to reopen the government [12][14] - The shutdown is projected to impact GDP by approximately 1.5% in Q4, with a rebound expected to 2.2% in Q1 [15] - The lack of government data during the shutdown has created uncertainty in economic assessments, affecting investor confidence [15][19] Consumer Behavior and Economic Outlook - There is concern about the psychological impact of the shutdown on consumers, particularly those living paycheck to paycheck [18][28] - The economy is described as K-shaped, with higher-income consumers faring better than lower-income consumers, who are increasingly cautious about spending [25][28] - Upcoming earnings reports from retailers like Walmart and dollar stores are anticipated to provide insights into consumer behavior [27] AI Sector Developments - Concerns are rising in the AI sector following Coreweave's weak guidance and TSMC's slowing sales, which may indicate broader issues in the AI trade [10][34] - SoftBank's sale of its $5.8 billion stake in Nvidia is viewed as a potential warning sign, although some analysts believe it may not reflect overall demand destruction in the sector [10][34] - Despite challenges, there are still positive indicators in the AI space, with other companies like AMD and major hyperscalers increasing capital expenditures for data centers [37] Airline Industry Insights - Delta Airlines has shown resilience during the government shutdown, with shares up about 2% in the past month despite operational challenges [47] - Delta's third-quarter results indicated record revenue, but the airline industry is characterized by low margins and high operational costs, making it a challenging investment [50][51] - The government shutdown has led to flight cancellations, which could impact revenue and earnings for airlines as they work to restore operations [53][55]