Hot Stocks
20:02 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Paramount Global (PARA) agreed to a deal that would merge the storied Hollywood company with David Ellison's Skydance Media, moving the complicated transaction a step closer to completion, The Wall Street Journal's Jessica Toonkel reports, citing people familiar with the matter. On Sunday, a special committee of Paramount Global directors agreed to the deal. The Redstones had agreed in principle to the deal Tuesday evening, weeks after turning down a similar deal with Skydance, shocking many on Hollywood and Wall Street, the author notes. 2. The head of America's biggest retail bank has a warning for its 86 million customers, namely to prepare to pay for your bank accounts, The Wall Street Journal's Alexander Saeedy reports. Marianne Lake runs Chase Bank, the sprawling franchise inside JPMorgan (JPM) Chase that is the country's biggest bank for consumers and one of its biggest credit-card issuers. Lake is warning that new rules that would cap overdraft and late fees will make everyday banking significantly more expensive for all Americans, the author notes. Lake said Chase is planning to pass on the costs of higher regulation and charge customers for a number of now-free services, including checking accounts and wealth-management tools, if the rules become law in their current form. 3. AMC Entertainment (AMC) has been making headlines again thanks to the return of meme-stock fever, which has helped shares gain 80% since the end of April, Emily Dattilo writes in this week's edition of Barron's. That gain, though, doesn't capture the precarious position the company is in. Sales have been falling this year, the result of a slate of films that has failed to excite moviegoers following the actors' strike. AMC also is struggling under a debt load that is too big-and coming due too soon-for a company its size, the author notes. The path forward is fraught, but there is a path, says the publication. Despite its troubles, AMC has been gaining market share, while the return of the meme-stock trade has given it the ability to sell stock and raise funds without taking on more debt. 4. Comcast (CMCSA) subsidiary Universal's "Despicable Me 4" won the 4Th of July long weekend with a five-day domestic opening of $122.6M, including $75M for the three days. Overseas, the movie, which sports an A CinemaScore, grossed an estimated $106.9M for a global tally of about $230M. 5. Ford (F), Conagra (CAG) saw positive mentions in this week's edition of Barron's.
|
