Investors cheered as Tko Group Holdings, the new parent company of UFC and WWE, clambered into the Wall Street ring.
Shares of Tko, which began trading Tuesday on the New York Stock Exchange, closed up 2.4% on the day, to $103.05 per share after opening at $102.
Meanwhile, Endeavor’s stock rose 1.1%, to $22.16/share, as investors reacted to the company’s move to carve UFC off into Tko. Endeavor properties include WME, Img and the Professional Bull Riders (Pbr), among other media assets. The gains came amid declines for major market indexes including the S&P 500 (-0.57%) and Nasdaq Composite (-1.04%).
Endeavor holds a 51% controlling interest in Tko and previous WWE shareholders hold 49%, including a 16.4% stake owned by WWE founder Vince McMahon. With the launch of Tko, WWE shares ceased trading on the NYSE, with a final closing price of $100.65/share on Monday.
Initially, Tko will be fully focused on integrating the operations of WWE and UFC,...
Shares of Tko, which began trading Tuesday on the New York Stock Exchange, closed up 2.4% on the day, to $103.05 per share after opening at $102.
Meanwhile, Endeavor’s stock rose 1.1%, to $22.16/share, as investors reacted to the company’s move to carve UFC off into Tko. Endeavor properties include WME, Img and the Professional Bull Riders (Pbr), among other media assets. The gains came amid declines for major market indexes including the S&P 500 (-0.57%) and Nasdaq Composite (-1.04%).
Endeavor holds a 51% controlling interest in Tko and previous WWE shareholders hold 49%, including a 16.4% stake owned by WWE founder Vince McMahon. With the launch of Tko, WWE shares ceased trading on the NYSE, with a final closing price of $100.65/share on Monday.
Initially, Tko will be fully focused on integrating the operations of WWE and UFC,...
- 9/12/2023
- by Todd Spangler
- Variety Film + TV
Republicans have largely been silent about Donald Trump’s call to “terminate” certain provisions of the Constitution in order to overturn the results of the 2020 election and reinstall himself in the White House. Rep. Paul Gosar (R-Ariz.), however, has spoken out about the anti-democratic idea: He supports it.
“I support and agree with the former President,” he wrote on Twitter on Wednesday before the deleting the tweet amid backlash. “Unprecedented fraud requires unprecedented cure.”
Rep. Paul Gosar R-Az says he supports Donald Trump's call for the 'termination' of parts of the Constitution.
“I support and agree with the former President,” he wrote on Twitter on Wednesday before the deleting the tweet amid backlash. “Unprecedented fraud requires unprecedented cure.”
Rep. Paul Gosar R-Az says he supports Donald Trump's call for the 'termination' of parts of the Constitution.
- 12/7/2022
- by Ryan Bort
- Rollingstone.com
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A “contrarian” stock upgrade, a stock price cut and a warning about “new worries” were among Wall Street analysts’ initial reactions to Paramount Global’s second-quarter earnings update Thursday. The company reached “nearly 64 million” streaming subscribers worldwide as of the end of June, up from more than 62 million at the end of March.
Cfra Research analyst Kenneth Leon raised his rating on the Hollywood conglomerate’s stock from “hold” to “buy” and raised his price target by 3 to 33, even though several peers have recently turned more cautious on Paramount due to concerns about its advertising revenue exposure amid gathering economic clouds and questions about whether it can make its growing streaming business profitable in the near- to mid-term.
“We have a contrarian investment view, as we think Paramount can execute and gain market share across all businesses,” Leon wrote, saying his new stock...
A “contrarian” stock upgrade, a stock price cut and a warning about “new worries” were among Wall Street analysts’ initial reactions to Paramount Global’s second-quarter earnings update Thursday. The company reached “nearly 64 million” streaming subscribers worldwide as of the end of June, up from more than 62 million at the end of March.
Cfra Research analyst Kenneth Leon raised his rating on the Hollywood conglomerate’s stock from “hold” to “buy” and raised his price target by 3 to 33, even though several peers have recently turned more cautious on Paramount due to concerns about its advertising revenue exposure amid gathering economic clouds and questions about whether it can make its growing streaming business profitable in the near- to mid-term.
“We have a contrarian investment view, as we think Paramount can execute and gain market share across all businesses,” Leon wrote, saying his new stock...
- 8/4/2022
- by Georg Szalai
- The Hollywood Reporter - Movie News
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