Today is the record date that will determine which of AT&Ts (NYSE:T) stockholders have the right to receive shares of Warner Bros. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Warner Bros. Shares of Warner Brothers Discovery are on the move. If certain closing conditions are not satisfied or waived in advance of April 5, AT&T may elect to change the stock dividend record date to a later date. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. All rights reserved. Warner Bros. Immediately following this spin-off, the WarnerMedia Spinco shares will be exchanged for stock representing approximately 71% of the new WBD on a fully diluted basis. On the closing date of the transaction, anticipated to be in April, AT&T shareholders will receive, on a tax-free basis, an estimated 0.24 shares of stock in Warner Bros. Non-GAAP Financial MeasuresThis communication may contain certain non-GAAP financial measures. Discovery Announce Plans To Exit RSNs; Added With Bally Sports Puts Two-Thirds Of MLB On Edge, Warner Bros. Discovery sinks on earnings miss, weak advertising revenue, view top-rated stocks among Wall Street analysts, 8403 Colesville Road, Silver Spring, Maryland 20910. How were my shares of WBD common stock issued? Discovery leadership team will review and assess our ESG approach and identify the best opportunities to help protect the environment, respect human rights, and positively impact local communities, while supporting our employees through inclusivity and diversity in our businesses and through our storytelling. Discovery, but raised its stock price target by $2 to $17 to reflect a lower net debt balance. However, the team also emphasized: That said, we still expect the elevated debt load, macro headwinds and growing secular pressures from faster cord-cutting along with uncertainty around key strategic questions to keep the stock price rangebound., One key question is whether the companys improvement in streaming losses should overshadow the weakness at networks, the experts mentioned. Warner Bros. Warner Bros. All rights reserved. Trades under the symbols "T WD" and "WBDWV" will settle after the closing date of the WarnerMedia-Discovery transaction. Who is on the senior management team of Warner Bros. Should I buy or sell Warner Bros. Its shares fell in after-hours trading. Discovery's revenue totaled $11.01 billion, down 9% year over year, which it mainly attributed to macroeconomic headwinds that advertising. Only 6.07% of the stock of Warner Bros. Investors will pay close attention. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Discovery sues Paramount over 'South Park' streaming rights, Jim Cramer's top 10 things to watch in the stock market Friday, Warner Bros. What is Warner Bros. Discovery posted fourth-quarter revenue slightly below expectations. You can unsubscribe from any of the investor alerts you are subscribed to at any time by visiting the Unsubscribe from Email Alerts section below. After close, investors should expect that AT&Ts share price will adjust to reflect the transfer of the WarnerMedia business to the newly formed Warner Bros. Discovery Board of Directors, David Zaslav serves as President and Chief Executive Officer of WBD. The company ended the quarter with $49.5 billion in gross debt and $3.9 billion in cash on hand. WebWarner Bros. Warner Bros Discovery Incs trailing 12-month revenue is $26.0 billion with a -20.3% profit margin. In the theme of rebuilding, the entertainment giant has started 2023 with massive success in video games. Discovery, Inc. to send you the requested investor email alerts. Discovery's stock was battered in 2022 after taking on $43 billion in debt from the merger of WarnerMedia and Discovery. Its shares fell in after-hours trading. Discovery, we strive to be the global leader in media and entertainment, serving audiences and consumers around the world with content that informs, entertains, and, when we are at our best, inspires. *Average returns of all recommendations since inception. If the transaction is not completed, all trades made under these temporary symbols will be cancelled. Discovery's stock price forecast for 2023? The Motley Fool has positions in and recommends Amazon.com, Microsoft, and Warner Bros. He sees increased clarity on the companys combined streaming offerings as key as management is set to unveil its plans in mid-April. It creates and distributes a portfolio of content and brands across television, film, and streaming. NBA on TNT. Our daily ratings and market update email newsletter. Warner Bros. Discoverys ticker symbol is WBD. About Warner Bros. Already a member? Following close of the transaction, AT&T shareholders will continue to hold, along with their new shares of WBD common stock, the same number of shares of AT&T common stock they held immediately prior to close. Discovery is held by institutions. Visit Performance Disclosure for information about the performance numbers displayed above. Discovery has received a consensus rating of Buy. We will webcast a fireside chat with Jeff McElfresh, chief operating officer, on Wednesday, March 8, 2023. The company earns $-7,371,000,000.00 in net income (profit) each year or ($2.62) on an earnings per share basis. See Zacks' latest analysis free. Discovery, Inc. operates as a media and entertainment company. Warner Bros. All of those trades will technically settle following the closing of the merger between Warner Media and Discovery, AT&T explained. Discovery expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Companys expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. The latter company will trade on the Nasdaq under the symbol WBD. * indicates the important links in the menu. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. Discovery Leadership Team, All shares of WBD common stock were issued in direct registration (book-entry) form. With the shares up 66 percent year-to-date (S&P 500: 5 percent) we think the adjusted OIBDA and free cash flow guides are priced in, but seeing is still believing, the Wells Fargo analyst emphasized. The trading options that will be available during the two-way trading period are: AT&T Regular Way Trading For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. To see all exchange delays and terms of use please see Barchart's disclaimer. Year-over-year quarterly sales growth most recently was 211.8%. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated; risks that any of the other closing conditions to the proposed transaction may not be satisfied in a timely manner; risks that the anticipated tax treatment of the proposed transaction is not obtained; risks related to litigation brought in connection with the proposed transaction; uncertainties as to the timing of the consummation of the proposed transaction; risks and costs related to the implementation of the separation of Spinco, including timing anticipated to complete the separation, any changes to the configuration of the businesses included in the separation if implemented; the risk that the integration of Discovery and Spinco being more difficult, time consuming or costly than expected; risks related to financial community and rating agency perceptions of each of AT&T and Discovery and its business, operations, financial condition and the industry in which it operates; risks related to disruption of management time from ongoing business operations due to the proposed merger; failure to realize the benefits expected from the proposed merger; effects of the announcement, pendency or completion of the proposed merger on the ability of AT&T, Spinco or Discovery to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally; and risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction. Discovery stock traded down $0.05 during mid-day trading on Friday, reaching $15.68. On Feb. 10, Warner Bros. DALLAS, March 25, 2022 Today AT&T Inc.* (NYSE:T) announced that it has declared a stock dividend to effect the spin-off of 100% of AT&Ts interest in WarnerMedia to AT&Ts shareholders. Pascal Desroches, senior executive vice president and chief financial officer, provided an update to shareholders, continuing focus on 5G and fiber services. The company can be reached via phone at (240) 662-2000, via email at investor_relations@discovery.com, or via fax at 240-662-1868. Warner Bros. Last year, the service earned 100% of Amazon's $12.2 billion in operating income, and revenue totaled $80 billion, up nearly 29% year-over-year. Warner Bros. About the company. Shares of WBD stock can be purchased through any online brokerage account. At Warner Bros. Our concern over the course of the combination of the company was how to present the new service at an attractive price point without cannibalizing the economics of the existing offerings.. On Friday, Warner Bros. Discovery. Fourth-quarter revenue came in at $11.1 billion well short of the $11.36 billion estimates while quarterly losses came in at a total of $2.1 billion, or 86 cents per share. According to analysts' consensus price target of $21.98, Warner Bros. AWS holds the biggest market share in cloud computing at 34%, with the industry expected to grow at a CAGR of 14.1% through 2030. Delayed quotes by FIS. NASDAQ data is at least 15 minutes delayed. WebFind the latest dividend history for Warner Bros. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. It would not be an overstatement to say the difference was night and day when comparing prior earnings calls to last nights fourth-quarter 2022 earnings call, they wrote. Discovery this year as 'Hogwarts: Legacy' sales boom, Australias Foxtel Inks Multi-Year Deal to Retain Warner Bros. Warner Bros. WebWarner Bros. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. What is Warner Bros. However, the media merger has thus far been a disappointment. 18 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Warner Bros. Discovery in the last twelve months. There are currently 1 sell rating, 7 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" WBD shares. CEO David Zaslav summed this up nicely as Last year was a year of restructuring. An industry with a larger percentage of Zacks Rank #1's and #2's will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4's and #5's. The stock has traded between $15.55 and $16.34 so far today. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. The close of the transaction births new company Warner Bros. Discovery fell over 50% in 2022. Warner Bros. The media company reported December quarter revenue of $11 billion, compared with the $11.2 billion Wall Street consensus, according to FactSet. The effects of the COVID-19 pandemic may give rise to risks that are currently unknown or amplify the risks associated with the foregoing factors. The Stock Is Falling. View the WBD U.S. Securities and Exchange Commission reporting information. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The company's average rating score is 2.55, and is based on 12 buy ratings, 7 hold ratings, and 1 sell rating. Reduced streaming losses, strong free cash flow and a focus on debt reduction those were some of the positives in Warner Bros. Discoverys fourth-quarter earnings update on Feb. 24 that were dissected by Wall Street experts overnight. 20 analysts have issued 1 year target prices for Warner Bros. The company employs 11,000 workers across the globe. WBD: Warner Bros Discovery Inc - Stock Price, Quote and News - CNBC Warner Bros Discovery Inc WBD:NASDAQ EXPORT WATCHLIST + LIVE SHARK Discovery announced what seemed to be coming: they were planning on exiting the regional sports network business. Discovery, Inc., formerly Discovery, Inc., is a global media and entertainment company. Does Warner Bros. The news is promising. WBD is re-launching a combined service in April. But the U.S. is about to strike back with a forceful plan of action to increase domestic production. Discovery Full Year 2022 Earnings: Misses Expectations, Warner Bros. Discovery shares are the better buy right now, and a bargain at their current price. You should consult your tax advisor for a full understanding of the tax consequences of the Transactions to you, in light of your own particular circumstances, As of the Closing Date, Discovery issued approximately 1.7 billion shares of WBD common stock to AT&T stockholders and 695 million shares to Discovery stockholders, Based upon the reported closing price of $24.43 per share for Discovery Series A common stock on the Nasdaq Global Select Market on the last trading date prior to the Closing Date, the market capitalization for WBD is $59.3 billion, Please refer to our board of directors here: Warner Bros. AT&T Declares Dividends on Common and Preferred Stock. Discovery Content, Brokers Issue Forecasts for Warner Bros. What is Warner Bros. Discovery insiders have not sold or bought any company stock. Theres even room for more lines. Discovery Inc. Series A U.S.: Nasdaq after hours $ 15.45 WBD -0.10 -0.64% Feb 24, 2023 7:57 p.m. EST After Hours Vol. To learn more, click here. All rights reserved. The Companys actual results could differ materially from those stated or implied due to risks and uncertainties associated with its business, which include the risk factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission, including but not limited to the Companys most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. Discovery trades on the NASDAQ under the ticker symbol "WBD.". Discovery without a stock price target. Discovery. Warner Bros. Discovery has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 10 buy ratings, 7 hold ratings, and 1 sell rating. According to analysts' consensus price target of $22.83, Warner Bros. Discovery has a forecasted upside of 140.9% from its current price of $9.48. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Invest better with The Motley Fool. ', While reiterating a buy and a $21 price target, Bank of Americas Jessica Reif Ehrlich noted that Studios revenue came in below our forecast, Networks were inline and DTC were modestly above, but we continue to believe management is taking the appropriate corrective measures to the business and view the companys more balanced and holistic approach to generating growth and adding that We remain extremely bullish on the long-term potential of WBD., Macquarie analyst Tim Nollen raised his price target 10 percent to $22 with an outperform rating, writing that WBD has made rational decisions on the revenue side, such as what content to license to linear and FAST channels (such as some of the 60% of HBO content that is little-watched and hence sold to Tubi and Roku) vs. what to put on its own streaming services.. Book-Entry ) form the Performance numbers displayed above discovery Full year 2022 earnings: Misses Expectations, Warner.! Company stock Bros. 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