Communications services companies experienced a slight decline in the stock market following the resolution of a strike in Hollywood.
After months of negotiations, the Screen Actors Guild-American Federation of Television and Radio Artists announced a unanimous approval of a tentative agreement with the Alliance of Motion Picture and Television Producers. This development effectively brings the strike to a close.
Walt Disney Sees Major Boost
Verizon Announces Affordable Streaming Bundle
Verizon is set to offer ad-supported versions of Netflix and Warner Bros. Discovery's Max streaming services at a combined price of approximately $10 per month. This move reflects the trend of competitive streaming services embracing more pragmatic bundling deals reminiscent of the cable era.
Virgin Galactic Soars in Sales
Virgin Galactic experienced a surge in shares after reporting quarterly sales that surpassed Wall Street estimates, albeit at a modest level. The space tourism company's stock rose by approximately 18% to about $1.84, despite previously trading above $54.
AMC Entertainment Faces Stock Decline
Despite reporting robust box-office sales for the third quarter, AMC Entertainment saw a slide in its stock performance.
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