Wall Street Hunts for Evidence of Turnaround Momentum in Warner Bros. Discovery's stock symbol? Warner Bros. The stock has traded between $15.55 and $16.34 so far today. WebWeeks after reports emerged of financial troubles plaguing Diamond Sports Group the largest operator of regional sports networks in the US Warner Bros. 55.18% of the stock of Warner Bros. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? Discovery (NASDAQ: WBD) when the stock went public last April. Investors had high hopes for Warner Bros. Cost basis and return based on previous market day close. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Discovery. Which Dollar Store, If Any, is Worth Your Investment Dollars? Non-GAAP Financial MeasuresThis communication may contain certain non-GAAP financial measures. Meanwhile, Amazon is by far the biggest online retailer with a 37.8% U.S. market share. The Motley Fool has positions in and recommends Amazon.com, Microsoft, and Warner Bros. Warner's recent prioritization of quality over quantity in its content is promising for its future. Discovery's stock has made a fierce comeback this year that has left its S&P 500 peers in the dust. 326 E 8th St #105, Sioux Falls, SD 57103 Amazon has responded with plans to lay off over 18,000 workers, closing dozens of warehouses, and sunsetting multiple projects like its telehealth service, Amazon Care. Learn More. The timing of the spin-off is subject to the satisfaction or waiver of the closing conditions for the transaction. Discovery+ will remain as a niche stand-alone service, he said. 55.18% of the stock is currently owned by institutional investors and hedge funds. Discovery? The ownership of the combined company following the Transactions was the result of a negotiated value exchange between AT&T and Discovery, which was based upon each partys valuations of Discovery and the WarnerMedia business, prior to the execution of the agreements defining the Transactions in May 2021. Our daily ratings and market update email newsletter. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Discovery does not currently pay a dividend and does not currently have a direct stock purchase program, As of the Closing Date, AT&T stockholders received, on a tax-free basis, approximately 0.241917 shares of WBD common stock for each share of AT&T common stock held as of the record date, Cash was delivered to AT&T stockholders in lieu of fractional shares of WBD common stock, The exact number of shares of WBD common stock received by AT&T stockholders for each share of AT&T common stock was determined based on the number of shares of AT&T common stock outstanding and the number of shares of Discovery common stock outstanding, on a fully diluted, as-converted and as-exercised basis, immediately prior to the effective time of the Transactions, The number of shares of AT&T common stock you held was not affected by the closing of the Transactions, Discovery stockholders did not directly receive any consideration in the Transactions, Prior to the effective time of the Transactions, all shares of Discovery Series A common stock, Discovery Series B common stock, Discovery Series C common stock, Discovery Series A-1 preferred stock and Discovery Series C-1 preferred stock issued and outstanding or held by Discovery as treasury stock immediately prior to the effective time of the Transactions were reclassified and automatically converted into WBD common stock, All shares of WBD common stock issued in the reclassification were issued in book-entry form, Immediately after the Transactions, Discovery stockholders owned shares in WBD, which includes the WarnerMedia business, The distribution record date for AT&T stockholders was April 5, 2022, and ownership was determined as of 5:00pm New York City time, on that date, No distribution record date was established for Discovery stockholders as existing shares of Discovery capital stock were reclassified and automatically converted into shares of WBD common stock on the Closing Date, For AT&T stockholders: The distribution and the merger were a Reverse Morris Trust-type transaction and are expected to be tax-free to AT&T stockholders for U.S. federal income tax purposes, except to the extent that cash was paid to AT&T stockholders in lieu of fractional shares in the merger. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service. The next key catalyst for the stock will be a company event on April 12 to unveil its redesigned streaming service. Discovery Reports Revenue Miss Shares fell 2.7% to $15.30 after the media company reported quarterly revenue of $11 billion, compared with a $11.2 billion Wall Street consensus. The eligible owners of AT&T's shares will have the right to receive WBD stock in a tax-free transaction. House of the Dragon - HBO. Who is on the senior management team of Warner Bros. An Overview of Blue Chips. Holders of Discovery capital stock as of immediately prior to the Transactions owned approximately 29% of the outstanding shares of WBD common stock on a fully diluted basis. AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. Source: Ingus Kruklitis / Shutterstock.com. The company's average rating score is 2.55, and is based on 12 buy ratings, 7 hold ratings, and 1 sell rating. They're lower by about 3.6% after the company reported fourth-quarter earnings that missed on both the top and bottom lines. The steep rise in inflation last year was detrimental to Amazon's e-commerce business, with its North American and international segments reporting combined operating losses of $10.6 billion in fiscal 2022. AT&T expects to close the transaction in April,second quarter dividend on common stock, payable in May,has been set according to previously announced updated dividend policy. It creates and distributes a portfolio of content and brands across television, film, and streaming. Warner Bros. WebView the latest Warner Bros. For the new combined HBO/Max (name TBD), we think WBD is trying to solve for higher engagement to either reduce churn or drive more ad impressions with lean-back content beyond HBOs originals. The latter company will trade on the Nasdaq under the symbol WBD. Warner Bros Discovery reported a net loss of 86 cents per share, which may not compare to estimates for a loss of 20 cents per share. Get daily stock ideas from top-performing Wall Street analysts. Select More options to see additional information, including details about managing your privacy settings. Discovery. Over the next several weeks and months, the Warner Bros. Discovery's investor relations website at https://ir.wbd.com . Discovery still has a long way to go to reach profitability. Two-Way Trading for AT&T Stock Expected to Begin on April 4. Last year, the service earned 100% of Amazon's $12.2 billion in operating income, and revenue totaled $80 billion, up nearly 29% year-over-year. February 28, 2023|americanbankingnews.com, February 27, 2023|markets.businessinsider.com. The lowest price target is $18. Forward-looking statements include statements regarding the Companys expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as anticipate, believe, could, continue, estimate, expect, intend, may, should, will and would or similar words. Get short term trading ideas from the MarketBeat Idea Engine. Sign-up to receive the latest news and ratings for Warner Bros. The media company reported December quarter revenue of $11 billion, compared with the $11.2 billion Wall Street consensus, according to FactSet. The Companys actual results could differ materially from those stated or implied due to risks and uncertainties associated with its business, which include the risk factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission, including but not limited to the Companys most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. Discovery Board of Directors. The estimated market cap for Warner Bros. If you experience any issues with this process, please contact us for further assistance. Inflation peaked at 9.1% in June 2022, leading to a stock market sell-off that sent shares in numerous consumer-reliant companies tumbling. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. Currency in USD Follow 2W 10W 9M 15.55 -0.18 (-1.14%) At close: 04:00PM EST 15.45 -0.10 ( Discovery, Inc. to send you the requested investor email alerts. Discovery as a Result of the WarnerMedia Separation. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. All rights reserved. The eligible owners of AT&T's shares will have the right to receive WBD stock in a tax-free John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Discovery in the last twelve months. Execution improves the balance sheet outlook., So where does Warner Bros. How much money does Warner Bros. 2023 InvestorPlace Media, LLC. Discovery posted fourth-quarter revenue slightly below expectations. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Discovery's stock. You should consult your tax advisor as to the consequences of the Transactions to you, including the applicability and effect of any U.S. federal, state, and local tax laws, as well as foreign tax laws, which may result in the Transactions being taxable, For Discovery stockholders: Neither Discovery nor Discovery stockholders are expected to recognize gain or loss for U.S. federal income tax purposes upon the completion of the Transactions. You must click the activation link in order to complete your subscription. Under the symbol WBD the closing conditions for the stock warner brothers discovery stock be a company event on April 4 3.6... Top-Performing wall Street Hunts for Evidence of Turnaround Momentum in Warner Bros the top bottom. Team of Warner Bros. 2023 InvestorPlace media, LLC T 's shares will have the right to WBD... Will trade on the NASDAQ under the symbol WBD basis and return based on your portfolio Hunts Evidence. 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