While Market Bleeds, These 10 Firms Soar

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

Warner Bros grew by 4.92 percent on Wednesday to close at $10.02 apiece as investor sentiment was buoyed by news that CNN’s chief operating officer, David Leavy, will return to the entertainment media giant.

According to a letter to CNN employees, Leavy, a long time key executive of Warner Bros. Discovery, Inc. (NASDAQ:WBD), is set to leave his current chief operating officer role at CNN.

He was praised for his “brilliant job stabilizing the company (CNN) at a difficult moment.”

“During the transition, he led CNN jointly with Amy Entelis, Virginia Moseley and Eric Sherling and played a central part helping me into my role as chairman and CEO before, as COO, leading multiple organizations and teams across revenue, promotion, operations and data,” CNN Chairman and CEO Mark Thompson said.

For his part, Leavy said that his moving over to CNN was originally just a six-month plan that turned into a multi-year drive to help the company pivot, transform, and reposition itself. His return to Warner Bros. Discovery, Inc. (NASDAQ:WBD) was a vote of confidence in his effectiveness in transforming the news giant.