The media sector is hot again after Warner Bros Discovery (WBD) posted quarterly results. WBD gained 11.81%, closing at $9.37. It traded above $9.73 earlier in Thursday trading.
The firm reported a 3.5% Y/Y drop in revenue. Shareholders are confident that CEO Zaslav will par the number of commercials in streaming. This will increase the quality of the viewing experience and attract subscribers. The revenue decline is not a concern, since it is due to studios and games.
Trump Media (DJT) fell by 22.97% to close at $27.70. It will open at around $26 this morning. Markets are unlikely to correlate the stock’s valuation to its fundamentals. The firm reported a $19.2 million net loss in the third quarter. Short-sellers are not willing to bet against DJT stock, where the short interest is 6.08%.
In the tech sector, IonQ (IONQ) may add to its 34.41% gain from yesterday. The firm lost $0.24 in EPS, while revenue of $12.4 million is up by 103.3% Y/Y. Quantum computing has a potentially large market. This firm would benefit as this type of computing complements AI-related implementations.
Wolfspeed (WOLF) may bounce back today after losing 39.24%. The firm posted a revenue shortfall. It blamed a transition in its silicon carbide devices, which cost it $87.1 million in restructuring charges.