On this episode of Stock Movers:
- Dollar General (DG) is higher after the company raised its full-year outlook, showing how value-focused retailers are winning over consumers hunting for deals. Dollar General cited share gains in its consumable and non-consumable categories, with growth in seasonal goods, home products and apparel.
- Paramount Skydance (PSKY) is lower by about 1% after accusing Warner Bros. Discovery of failing to conduct a fair auction, saying the film and TV company isn’t acting in its shareholders’ best interests. Paramount's attorneys said Warner Bros. "appears to have abandoned the semblance and reality of a fair transaction process" and has "embarked on a myopic process with a predetermined outcome that favors a single bidder"
- Meta Platforms (META) shares jumped. Mark Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the company and the reason for changing its name from Facebook Inc. The metaverse group was asked to cut deeper due to a lack of industry-wide competition and scrutiny from investors and watchdogs over the technology.
See omnystudio.com/listener for privacy information.
