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McDonald’s is bringing back its fried apple pie for the first time in over 30 years in honor of America’s 250th birthday. In 1992, the fast-food giant replaced its iconic fried apple pie with a baked version, in response to consumer demand for healthier food. The kicker? The baked apple pie actually has 10 more calories than the fried version.
A slump in semiconductors dragged down stocks yesterday, while oil prices continued to slide on optimism that a peace deal will allow more crude to return to global markets. Information technology was the worst-performing sector — and the only sector to underperform the broader S&P 500 — while financials fared the best.
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Shares for the film production company Lionsgate soared on Tuesday following rumors of a potential buyout. According to a person familiar with the possible merger and acquisitions deal, streaming giant Netflix is one of the companies that may be interested in buying Lionsgate Studios, per reporting by Semafor.
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- With the box office running only slightly behind where it was in the high-water mark year of 2019, there’s been renewed interest in stocks that have been exposed to movie distribution and production.
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All eyes have been on the attempted acquisition of Warner Bros. Discovery by Paramount, which follows Paramount’s own acquisition by David Ellison backed by his Oracle-owning father, Larry Ellision.
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Meanwhile, IMAX stock closed at a record high yesterday thanks in part to blockbuster numbers coming out of early screening sales for Christopher Nolan’s “The Odyssey.”
- Many exhibitor and studio stocks were dead money during and immediately following the pandemic, buoyed if at all by the direct-to-consumer streaming businesses that occasionally offered investors glimmers of interest.
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Neither Lionsgate nor Netflix confirmed the news, but nevertheless the stock climbed, closing up 14%. |
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Netflix closed lower on news that Fox will acquire Roku in an approximately $22 billion deal after it was also rumored that the streaming company was interested in that acquisition. “Netflix did not make a bid for Roku,” a spokesperson told Semafor. This comes after Netflix withdrew its buyout bid for Warner Bros. earlier this year.
Lionsgate’s shares are up 77% since January. Lionsgate owns massive franchises like “John Wick” and “The Hunger Games.” The film company has a market cap of approximately $4.7 billion, making it roughly 5x smaller than Roku and 13x smaller than Warner Bros. |
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Want the inside look on the stats, data, and insights going on in sports? Looking for the numbers behind the biggest stories in the World Cup? Interested in prediction markets and how to make money there? Check out Snacks’ newsletter Scoreboard.
For instance, in yesterday’s Scoreboard, we dove into how arguably the greatest duo in their sport’s history is coming back for another go-around. On Tuesday, it was reported that Serena Williams and her sister, Venus, had received a wild-card entry for the women’s doubles tournament at Wimbledon, meaning the iconic pair will play together at the iconic tournament for the first time in four years.
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Bitcoin is stuck in a tug-of-war as a potential peace deal provides macro tailwinds, but institutional demand has quietly deteriorated: June has already seen significant ETF outflows that could outpace May’s. Without fresh buying pressure to match the macro relief, analysts say bitcoin’s upside may be limited.
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