Warner Bros. Discovery

Paramount Skydance launched a hostile $30‑per‑share all‑cash bid for Warner Bros. Discovery, outbidding Netflix’s $27.75 cash‑and‑stock offer, sending Paramount shares up 9% and WBD up 4.4%. Meanwhile, the U.S. approved Nvidia’s H200 AI chips for export to selected foreign customers with required U.S. revenue repatriation, nudging its stock higher. Major U.S. indexes fell as investors priced in a ~90% chance of a 25‑basis‑point Fed rate cut at the year‑end meeting, warning of a 2‑3% equity pullback if the cut is missed. Private‑credit markets are now mirroring high‑yield bonds, raising underwriting‑standard concerns.

Paramount Skydance launched a $30‑per‑share all‑cash hostile bid for Warner Bros. Discovery, outbidding Netflix’s $27.75 offer, sending both stocks higher. Nvidia received U.S. clearance to ship its H200 AI chips to approved Chinese customers, with part of earnings required to return to the U.S. Markets remain cautious ahead of the Fed’s likely 25‑bp rate cut; equities slipped despite tech gains. Berkshire Hathaway announced a leadership reshuffle, and Ray Dalio urged investors to bet on solid AI moats. China posted a $1‑trillion trade surplus in November.

Key market developments include the Supreme Court hearing challenges to Trump’s tariffs, a shareholder vote on Elon Musk’s compensation package, and an FAA-mandated flight capacity reduction due to the government shutdown. Social media stocks show divergent performances with Snap soaring and Pinterest plummeting after earnings reports. Warner Bros. Discovery faces strategic decisions amid disappointing results, with a potential acquisition offer on the table. Finally, tariffs are impacting retailers unevenly, with prices on Amazon rising faster than competitors.

HBO Max is raising prices for new and existing subscribers, marking its second price adjustment since June 2024. This increase, effective November 20, comes amid widespread price hikes across the streaming industry, with Disney, Apple, and Netflix also implementing similar changes. WBD’s CEO David Zaslav cited the high quality of their content as justification. This move aligns with broader strategic shifts at WBD, including a potential company split and openness to acquisition offers, reflecting the competitive streaming landscape.