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Netflix (NFLX) passes on LION. (00:14) BMW runs into trouble. (01:07) FTC targets Amazon (AMZN) ads. (02:08)
Netflix isn’t interested in Lionsgate after all.
Lionsgate Studios (LION) is down 4% in premarket action after a report that Netflix (NFLX) is not interested in purchasing the streamer, which contradicts an earlier news item.
Shares of Lionsgate jumped nearly 14% in regular trading on Tuesday.
TheWrap reported, citing an unidentified source familiar with the matter, that Netflix (NFLX) has no interest in a Lionsgate acquisition.
The update comes after a report from Semafor on Tuesday that while Netflix was interested in bidding for Lionsgate (LION), it had not submitted a formal indication of interest.
A Netflix spokesperson also told Semafor that it “did not make” a bid for Roku (ROKU) after the publication said that Netflix lost out to Fox (FOXA) in a battle for the streaming platform.
German luxury carmaker BMW (BMWKY) fell about 8% on the DAX Index (DAX:IND) on Wednesday as it issued an unexpected profit warning.
The automaker blamed an accelerated deterioration in the Chinese market, where local manufacturers continue to gain market share and price competition remains intense.
BMW (BMWKY) also pointed to the impact of the Iran war, saying higher energy prices are increasing operating costs while geopolitical uncertainty is weighing on consumer confidence globally.
The German company lowered its forecast for the operating margin in its core automotive business to 1%-3%, down from a previous estimate of 4%-6%, as well as a slight decrease in core deliveries in 2026. It expects group profit before tax to decline significantly, stating a drop of more than 15%, after previously forecasting a moderate decrease.
Amazon.com (AMZN) is facing a possible lawsuit from the US Federal Trade Commission that may lead to billions of dollars in civil penalties, over claims it misled advertisers.
Bloomberg reported, citing sources, that multiple state attorneys general are also involved.
The FTC is seeking details about Amazon’s advertising auctions and whether it disclosed “reserve pricing” for some search ads. Reserve pricing refers to the minimum price advertisers must accept before they can buy an ad.
According to Bloomberg, the FTC may wrap up the probe either through a lawsuit or settlement as soon as this summer.
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Stock index futures are in mixed territory.
Crude oil is down 0.3% at $75. Bitcoin is down 1% at $64,000. Gold is down 0.2% at $4,323.
The FTSE 100 is down 0.1% and the DAX is down 0.2%.
The biggest movers for the day premarket: La-Z-Boy (LZB) +16% – Shares surged after the furniture maker delivered FQ4 that topped expectations and highlighted strong operational execution despite a challenging industry backdrop.
Economic calendar:
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8:30 am Retail Sales
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10:00 am Pending Home Sales Index
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10:00 am Atlanta Fed Business Inflation Expectations
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2:00 pm FOMC Announcement
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2:30 pm Fed Chair Press Conference
The latter two events on the economic calendar means Wall Street Lunch will be published later in the day to accommodate the announcement and Kevin Warsh’s first press conference as chair.
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
