Latest news with #DavidLeavy
Yahoo
a day ago
- Business
- Yahoo
Warner Bros. Discovery Makes Layoffs Across Cable TV Group
Warner Bros. Discovery, as its cable TV business continues to shrink and viewership falls, has made targeted job cuts across its linear networks. The media conglomerate's linear TV business includes TNT, TBS, CNN, Food Network, Discovery, TLC, Cartoon Network and Turner Classic Movies. The layoffs affect well under 100 employees, a source familiar with the situation told Variety. The source added that no particular location or network was impacted more than others. The cuts — like those at other pay-TV networks affected by cord-cutting declines — are aimed at WBD's ongoing goal of operating more efficiently. More from Variety Warner Bros. Discovery Shareholders Vote Against CEO David Zaslav's $52 Million Pay Package in a Symbolic Rebuke David Leavy, CNN's Chief Operating Officer, Will Return to Warner Bros. Discovery Warner Bros. Discovery, U-Next Strike Global Distribution Deal for Japanese Dramas (EXCLUSIVE) For the first quarter of 2025, revenue in the company's linear TV networks business fell 7%, to $4.7 billion. Warner Bros. Discovery said ad revenue fell 12%, while distribution revenue was off by 9%. The company cited declines in audiences at its networks for the downturns. In Q1, adjusted operating income of the cable TV group fell 15%, to $1.79 billion. The layoffs in WBD's cable group come after Disney cuts its headcount by several hundred employees this week, affecting staffers in TV, film and corporate finance. Last month, S&P Global Ratings cut Warner Bros. Discovery's credit rating to junk status based on its lowered earnings forecast for 2025-26 primarily due to the 'continued revenue and cash flow declines at its linear TV operations,' which the ratings firm said will offset growth in the company's streaming and studio segments. In Q1, Warner Bros. Discovery said, it completed the process of reorganizing the company into two divisions: one comprising its streaming business (plus HBO) and production studios, and the other composed of the rest of its cable TV portfolio. The reorg will 'create opportunities as we evaluate all avenues to deliver significant shareholder value,' CEO David Zaslav said in originally announcing the separation last December. Best of Variety What's Coming to Netflix in June 2025 New Movies Out Now in Theaters: What to See This Week 'Harry Potter' TV Show Cast Guide: Who's Who in Hogwarts? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Why Warner Bros. Discovery, Inc. (WBD) Soared On Wednesday
We recently published a list of . In this article, we are going to take a look at where Warner Bros. Discovery, Inc. (NASDAQ:WBD) stands against other best-performing stocks. Warner Bros grew by 4.92 percent on Wednesday to close at $10.02 apiece as investor sentiment was buoyed by news that CNN's chief operating officer, David Leavy, will return to the entertainment media giant. According to a letter to CNN employees, Leavy, a long time key executive of Warner Bros. Discovery, Inc. (NASDAQ:WBD), is set to leave his current chief operating officer role at CNN. He was praised for his 'brilliant job stabilizing the company (CNN) at a difficult moment.' A movie theater auditorium filled with an audience enjoying a blockbuster film. 'During the transition, he led CNN jointly with Amy Entelis, Virginia Moseley and Eric Sherling and played a central part helping me into my role as chairman and CEO before, as COO, leading multiple organizations and teams across revenue, promotion, operations and data,' CNN Chairman and CEO Mark Thompson said. For his part, Leavy said that his moving over to CNN was originally just a six-month plan that turned into a multi-year drive to help the company pivot, transform, and reposition itself. His return to Warner Bros. Discovery, Inc. (NASDAQ:WBD) was a vote of confidence in his effectiveness in transforming the news giant. Overall, WBD ranks 6th on our list of best-performing stocks. While we acknowledge the potential of WBD, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WBD and that has 10,000x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
29-05-2025
- Business
- Yahoo
Why Warner Bros. Discovery, Inc. (WBD) Soared On Wednesday
We recently published a list of . In this article, we are going to take a look at where Warner Bros. Discovery, Inc. (NASDAQ:WBD) stands against other best-performing stocks. Warner Bros grew by 4.92 percent on Wednesday to close at $10.02 apiece as investor sentiment was buoyed by news that CNN's chief operating officer, David Leavy, will return to the entertainment media giant. According to a letter to CNN employees, Leavy, a long time key executive of Warner Bros. Discovery, Inc. (NASDAQ:WBD), is set to leave his current chief operating officer role at CNN. He was praised for his 'brilliant job stabilizing the company (CNN) at a difficult moment.' A movie theater auditorium filled with an audience enjoying a blockbuster film. 'During the transition, he led CNN jointly with Amy Entelis, Virginia Moseley and Eric Sherling and played a central part helping me into my role as chairman and CEO before, as COO, leading multiple organizations and teams across revenue, promotion, operations and data,' CNN Chairman and CEO Mark Thompson said. For his part, Leavy said that his moving over to CNN was originally just a six-month plan that turned into a multi-year drive to help the company pivot, transform, and reposition itself. His return to Warner Bros. Discovery, Inc. (NASDAQ:WBD) was a vote of confidence in his effectiveness in transforming the news giant. Overall, WBD ranks 6th on our list of best-performing stocks. While we acknowledge the potential of WBD, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WBD and that has 10,000x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
S&P 500 Gains and Losses Today: FICO Shares Regain Ground After Recent Slump
The S&P 500 slipped 0.6% on Wednesday, May 28, ahead of semiconductor giant Nvidia's highly anticipated quarterly earnings release. Water solutions provider A.O. Smith's shares dropped after HVAC specialist Lennox announced a joint venture with Aris to enter the North American water heater market. Fair Isaac shares regained some of the heavy losses posted over the past week amid critiques from a top federal housing U.S. equities indexes ticked lower on Wednesday as investors awaited the afternoon's earnings results from artificial intelligence (AI) chip behemoth Nvidia (NVDA). The S&P 500 ended the day 0.6% lower. The Dow was also down 0.6%, while the Nasdaq fell 0.5%. After the bell, Nvidia reported sales topped analysts' expectations in the fiscal first quarter, but the company's earnings missed amid new export curbs. After posting the sharpest drop in the S&P 500 during the previous session, shares of credit score provider Fair Isaac (FICO) changed course on Wednesday, jumping 7.7% to log the top daily performance in the benchmark index. The stock has been under pressure over the past week following criticism of FICO's pricing structure by a top federal housing official, who singled out the cost of credit evaluations for potential borrowers as a major contributor to elevated mortgage origination expenses. Warner Bros. Discovery (WBD) shares gained 4.9% after reports that David Leavy would exit his role as the chief operating officer of the entertainment giant's cable news network CNN and return to the parent company. Before helping guide CNN through a transitional period over the past two years, Leavy was employed as WBD's chief corporate affairs officer. Shares of medical device firm Hologic (HOLX) added 2.5% on Wednesday, extending gains posted the prior day following reports that the company had rejected a buyout offer from two private equity firms. Although the take-private deal for the diagnostics equipment maker did not materialize, reports suggested that negotiations could continue. Shares of water heater and treatment solutions specialist A.O. Smith (AOS) plunged 6.3%. The decline in the stock came after heating, ventilation, and air conditioning giant Lennox International (LII) said it will jump into the water heater market in North America via a joint venture with Aris Water Solutions (ARIS). Analysts at Jefferies expressed concerns about A.O. Smith's market position in the wake of Lennox's announcement. Deckers Outdoor (DECK) shares slipped 4.3% on Wednesday. The stock has seen heavy volatility in recent sessions, tumbling Friday after the parent company of the Ugg and Hoka footwear brands withheld its full-year forecast, citing tariff concerns. Then on Tuesday, it regained ground following the holiday weekend, bolstered by a strong consumer sentiment report and an extended timeline for tariffs on imports from Europe. Shares of electric utility AES Corp. (AES) dropped 3.67% after Argus Research downgraded the stock to "hold" from "buy." Analysts pointed to the power generator's recent earnings report, noting that adjusted earnings per share (EPS) fell sharply year-over-year and came in below consensus forecasts. Although AES could benefit over the long term from the shift to more environmentally friendly power generation, the stock has been under pressure as the renewable energy industry faces an uncertain policy outlook. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
