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Bloomberg Tech

Stocks Push Higher and Warner Brothers Plunges

Bloomberg Tech

Bloomberg

Tech News, Business News, Business, News

4.549 Ratings

🗓️ 8 August 2024

⏱️ 48 minutes

🧾️ Download transcript

Summary

Bloomberg's Ed Ludlow takes a look at stocks pushing higher amid fading recession fears. Plus, Warner Brothers plunges after a $9.1B writedown, and after spending nearly 60 days in space, Nasa works on a contingency plan to bring the Starliner crew home.

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Transcript

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0:00.0

Want to understand exactly how interest rate rises will impact your mortgage?

0:07.0

Or how New York City gets fresh produce.

0:10.0

Or exactly what on biggest stories in finance, economics, business, and market.

0:24.0

I'm Tracy Allaway, and I'm Jill Wiesenthal.

0:26.7

And we are the hosts of Bloomberg's Ad Thoughts Podcast.

0:29.4

Look us up wherever you get your podcasts.

0:31.4

The All-Th Thoughts Podcast from Bloomberg. of where innovation, money and power collide in Silicon Valley and beyond.

0:45.0

This is. Live from San Francisco. This is Bloomberg Technology coming up full

1:06.9

markets coverage ahead as stocks push higher amid fading recession fears.

1:12.1

Plus Warner Brothers plunges after a 9.1 billion dollar

1:16.8

right down. And after spending nearly 60 days in space,

1:20.9

NASA is working on a contingency plan to bring the Starliner crew home.

1:27.0

Let's get right to financial markets and I'm looking at the NASDAQ 100 on a four day basis.

1:32.0

It's interesting what's happening in the long run. That's

1:35.8

actually Warner Brothers Discovery. So let's go there then. That's a nice story for the day.

1:39.2

We're down 9.3% 9.4%. Look the story is really clear.

1:45.0

9.1 billion dollar write down on the legacy TV networks and the issue with that or the story with that is traditional linear TV is not valued as it was when Warner Brothers

1:57.2

merged with Discovery because everyone's gone to streaming.

2:00.8

Let's bring in Bloomberg's Hannah Miller, who's been covering the story and Hannah on Give me the specifics of the write down and the reasons behind it.

2:14.0

Yeah, so basically what CEO David Zazlov discussed on the earnings call

2:19.4

was that things have drastically changed in the media landscape.

2:23.4

Valuations are different, market conditions are different,

...

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