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Shares of Xperi Inc. rose sharply in today's pre-market trading after the company announced that it entered into an agreement with Amazon.com services for the sale of nearly all assets and some liabilities for $80 million.
Xperi shares jumped 11.6% to $8.43 in pre-market trading.
Here are some other stocks moving in pre-market trading.
Gainers
Losers
Now Read This:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
** Shares of sports streaming platform FuboTV FUBO.N rise 9.8% to $1.68 in premarket trading
** U.S. judge on Friday temporarily blocked launch of sports-streaming venture named Venu Sports by Walt Disney DIS.N, Fox FOXA.O and Warner Bros Discovery WBD.O
** In Feb, FUBO sued the companies involved, accusing them of antitrust practices that would thwart competition and inflate prices for consumers
** Venu Sports was set to launch this fall in United States
** Up to last close, stock had fallen ~52% YTD
(Reporting by Harshita Mary Varghese in Bengaluru)
A study by the Network Contagion Research Institute (NCRI) in collaboration with Rutgers University suggests that ByteDance-owned social media platform TikTok‘s algorithm promotes content favoring the Chinese government.
In a bid to enhance its disaster response capabilities, the Tokyo metropolitan government has launched an AI system designed to quickly detect fires and building collapses during major earthquakes.
Gaming
Epic Games is expanding its popular battle royale game Fortnite through a new collaboration with Walt Disney Company , which will introduce a variety of characters from Star Wars, Marvel, and Pixar.
A recent update on Sony Group Corp.‘s PlayStation Store has reignited speculation that Red Dead Redemption could finally be making its way to PC.
Sony officially revealed the lineup of games joining the PlayStation Plus Games Catalog for August 2024, including The Witcher 3: Wild Hunt, Cult of the Lamb, and Watch Dogs 2.
Krafton, the publisher behind the popular battle royale game PUBG, has officially acquired Tango Gameworks and the Hi-Fi Rush intellectual property (IP) from Xbox, ensuring the continued development and future of the game studio.
Read: Terminator: Survivors Pushed To 2025 — ‘We Believe This Is The Right Call,’ Developer Says
Nintendo has reportedly informed developers that the release of its next gaming console, often referred to as the “Switch 2,” will likely not occur before April 2025.
Valve’s new game, Deadlock, has recently gained considerable traction despite not being officially announced, with the number of concurrent players surpassing 19,000 earlier.
Elon Musk
Tesla, Inc. and SpaceX CEO Elon Musk‘s social media platform X is under fire for allegedly using the data of European Union users to train artificial intelligence models without their consent.
Elon Musk has teased the impending launch of the Grok 2 beta version, an advanced AI chatbot developed by his company, xAI.
Smartphones
Apple Inc. has decided to revise its Photos app in the forthcoming iOS 18 and iPadOS 18, following negative feedback from users.
Apple is rumored to be working on a thinner version of the iPhone 17, which could potentially return the company’s flagship product to meaningful growth.
Apple‘s Indian venture has reportedly crossed the $20 billion revenue threshold in India in just three years of starting manufacturing in the country.
Amid the search for new revenue sources, Apple has reportedly decided to develop a tabletop home device. The device uses a thin robotic arm to move a large, iPad-like screen, offering a twist on home products like Amazon’s Echo Show 10 and Meta’s discontinued portal.
Streaming Platform & Others
In a significant rebranding move, DirecTV is now positioning itself as a streaming service, eliminating the need for a satellite dish to access its content. The company is launching a new ad campaign to communicate this change to its customers.
Following a previous rejection by Apple, music streaming behemoth, Spotify Inc. , has announced that it will now display its pricing information on its app for Apple devices in the European Union.
Read: Steam Tightens Store Page Rules: Developers Can No Longer Add External Links
Technology
Turkish President Recep Tayyip Erdogan‘s government has lifted its nine-day ban on Meta Platforms, Inc.‘s Instagram, following the Mark Zuckerberg-led social media platform’s agreement to comply with Turkey’s demands.
Read: After Trump Campaign Blames’ Foreign Sources Hostile To The US’ For Cyberattack, Ex-White House Officials Say’ Buckle Up...Someone Is Running The 2016 Playbook’
At Alphabet Inc.‘s “Made by Google” event, the tech giant’s AI assistant Gemini faced two consecutive glitches during a live demonstration.
Read: Mark Zuckerberg Explains Why Facebook Beat Google, Microsoft, And Yahoo Who Were ‘Fumbling Around:’ ‘We Were Like A Ragtag Group Of Children’
Alphabet’s former CEO and Chair Eric Schmidt discussed the reasons behind Google‘s loss of initiative to ChatGPT-maker OpenAI.
Google by Alphabet unveiled its latest Pixel 9 series, boasting a sleek design and cutting-edge features, at the Made by Google event.
Read: Google Says Opening Up Its App Store Is Expensive And Too Much Work, Gets Told By Judge, ‘We’re Going To Tear The Barriers Down’
Artificial Intelligence (AI)
The initial enthusiasm for the AI capabilities of Samsung Electronics Co., Ltd.‘s Galaxy S24 appears to be dwindling, as shipment momentum has slowed since April, six months after its launch.
Read: Trump Left Shocked By Power-Hungry AI, Tells Elon Musk: ‘Requires Twice The Energy That The Country Already Produces’
In a recent development, SoftBank Group Corp. has hit a snag in its plans to produce an artificial intelligence (AI) chip that could rival Nvidia Corp. . The Japanese conglomerate’s negotiations with Intel Corp. have reportedly collapsed due to Intel’s failure to meet SoftBank’s production demands.
Eric Schmidt, former CEO of Alphabet Inc.’s Google, walked back his remarks where he blamed the search giant’s focus on work-life balance and remote work for it losing out to AI startups like Microsoft Corp.-backed OpenAI, and Anthropic.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
New York-headquartered Fox Corporation , with a market cap of $18.5 billion, produces and distributes news, sports, and entertainment content. The company’s brands include FOX News, FOX Sports, the FOX Network, FOX Television Stations, FS1, FS2, Fox Deportes, and Big Ten Network.
Shares of this entertainment titan have lagged behind the broader market over the past 52 weeks. The stock has gained 17.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 26.1%. However, things are looking up for the stock in 2024, as FOXA is up 33.3%, surpassing SPX’s 16.5% rise on a YTD basis.
Narrowing the focus, FOXA has outperformed the Invesco Dynamic Leisure and Entertainment ETF , which has surged 8.4% over the past 52 weeks. Besides, FOXA’s double-digit gains in 2024 easily outpace the ETF’s 6.8% return on a YTD basis.
On Aug. 6, Fox Corporation released its Q4 earnings report, and its stock climbed 6.7%. It exceeded Wall Street's profit expectations and reported a rise in revenue, driven by strong demand for its Tubi streaming service. The company also announced a boost to its semi-annual dividend and repurchased about $250 million of its Class A common stock in the last quarter.
For the current fiscal year, ending in June 2025, analysts expect Fox Corporation’s EPS to rise 8.5% annually to $3.72 on a diluted basis. The company's earnings surprise history is robust. It beat the consensus estimate in each of the last four quarters.
Among the 23 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 10 “Strong Buy” ratings, 12 “Hold,” and one “Strong Sell.”
This configuration is more bullish than two months before, with eight analysts recommending a “Strong Buy.”
On Aug. 7, JPMorgan Chase & Co. lifted Fox Corp.’s price target to $38 from $36 and maintained a “Neutral” rating. The company’s fiscal Q4 results were solid and provided positive commentary on upfronts. However, the firm remains cautious about pay TV trends and the challenges of transitioning news and sports content to digital platforms.
Although the stock currently trades above its mean price target of $39, the Street high target of $45 represents a 13.8% premium from FOXA’s current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
NEW YORK, NY / ACCESSWIRE / August 18, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Warner Bros. Discovery, Inc. ("Warner Bros. Discovery" or "the Company") (NASDAQ:WBD). Investors who purchased Warner Bros. Discovery securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/WBD.
Investigation Details
On August 7, 2024, Warner Bros. Discovery released its second quarter 2024 financial results. The Company reported a $9.1 billion impairment charge from its Networks division. According to the Company, the impairment is in "response to the difference between market capitalization and book value, continued softness in the U.S. linear advertising market, and uncertainty related to affiliate and sports rights renewals, including the NBA." Based on these facts, shares of Warner Bros. Discovery fell by 9.6% in after hours trading on the same day.
What's Next?
If you are aware of any facts relating to this investigation or purchased Warner Bros. Discovery securities, you can assist this investigation by visiting the firm's site: bgandg.conm/WBD. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact
Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View the original press release on accesswire.comWhite Label
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