Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- Paramount Skydance (PSKY) reiterated that its $30 per share cash bid for Warner Bros. Discovery (WBD) was superior to Netflix’s (NFLX) offer.
In a statement, Paramount asserted that Netflix’s cash-and-stock bid has decreased in value due to a decline in Netflix’s stock price and the disappointing market debut of Comcast (CMCSA) network spinout Versant (VSNT).
Under WBD’s merger deal with Netflix, WBD shareholders are to receive $23.25 in cash and $4.50 in Netflix stock, subject to a collar. In addition, WBD is expected to spin out its network assets as a separate, publicly traded company before its deal with Netflix closes.
“Our offer clearly provides WBD investors greater value and a more certain, expedited path to completion. Throughout this process, we have worked hard for WBD shareholders and remain committed to engaging with them on the merits of our superior bid and advancing our ongoing regulatory review process,” said Paramount CEO David Ellison in the statement.
- Ford (F) said it’s developing autonomous driving technology, with an expected launch date in 2028.
The Detroit Big Three company said the Level 3 autonomous driving technology will allow drivers to take their eyes off the road and engage in activities other than driving, such as participating in video calls or watching entertainment.
“Of all the things that people need in life right now, time is pretty high on that list,” Ford’s EV and design head, Doug Field, told Bloomberg. “We think it’ll be super compelling.”
Field added that Ford (F) is also considering getting into the robotaxi business.
“We don’t want to get ahead of ourselves right now, but we think we have a really compelling platform to work with a partner on that,” Field said. “How far we take L3 would determine our long-term strategy.”
Other companies working on robotaxi services in the U.S. include Tesla (TSLA), Alphabet’s (GOOG) (GOOGL) Waymo, and Amazon’s (AMZN) Zoox.
- White House trade advisor Peter Navarro said he believes American innovation will help the country break free of its reliance on China for rare earth elements.
“China has been flexing its muscles now in Europe, in India, in the United States saying, basically, we’re gonna do what we want, and if you try to stop us, we’re gonna take away your critical minerals,” Navarro said during an interview on Bloomberg TV. “Because they have, they think they have a monopoly on it, but that’s just a matter of time.”
Navarro added that American innovation could “quickly wipe away” China’s dominance and “weaponization” of rare earths.