10 Stocks with Surprising Gains

2. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Warner Bros extended its winning streak to a third consecutive day on Friday, to hit another all-time high, as investors continued to snap up shares following reports of that it was being targeted for acquisition by Paramount Skydance Corp. (NASDAQ:PSKY).

Earlier this week, the Wall Street Journal reported, citing people privy to the matter, that Paramount was preparing a majority cash bid to acquire Warner Bros. Discovery, Inc. (NASDAQ:WBD), including its cable networks and movie studio.

WSJ said a bid has yet to be submitted, and plans could still fall apart.

If successful, the acquisition plan would likely require an antitrust investigation given the potential size and merger with a number of Warner Bros. Discovery, Inc. (NASDAQ:WBD) assets, such as HBO Max, Barbie, and the Harry Potter franchise, with Paramount’s film studio, CBS News, and Paramount+.

The purported bid followed the completion of Paramount and Skydance’s $8.4 billion merger, ending RedBird’s 38-year control of the former.