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Key Market Movers: Tesla Earnings Anticipation, Netflix Slips on Results, DraftKings Gains

Netflix shares fell in premarket trading following a Q1 earnings miss reportedly tied to a Brazilian tax dispute. Tesla edged higher as investors await its earnings report after the bell. DraftKings surged on news of a strategic acquisition in the prediction-markets space.

Netflix Shares Decline Following Earnings Report

Shares of streaming giant Netflix dropped more than 7% in premarket trading Wednesday, according to market analysis, after the company released quarterly results that fell short of expectations. The report states that the earnings miss was partly attributed to an expense related to ongoing disputes with Brazilian tax authorities. This development comes as the streaming industry faces increased competition and content cost pressures globally.

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Warner Bros. Discovery Explores Full Company Sale Amid Acquisition Interest

Warner Bros. Discovery has officially put the entire company up for sale after receiving multiple unsolicited offers. Wall Street analysts project acquisition bids could range from $21 to $30 per share as streaming competitors and media giants circle the potential deal.

Sale Process Officially Underway

Warner Bros. Discovery has placed the full company on the auction block after receiving what sources describe as “unsolicited interest” from multiple potential buyers. According to reports, the media and streaming giant announced Tuesday that it is reviewing all options for a complete or partial sale. The company is simultaneously considering splitting its streaming and studios business from its global news networks, though a full sale has now been formally put on the table.