markets

Max Knoblauch12/22/25

Paramount bolsters its Warner Bros. offer with a $40.4 billion personal guarantee from Larry Ellison

Paramount’s $30-per-share offer for Warner Bros. Discovery now includes a $40.4 billion personal guarantee from Larry Ellison, the father of Paramount CEO David Ellison, a fresh filing on Monday shows.

“Larry Ellison has agreed to provide an irrevocable personal guarantee of $40.4 billion of the equity financing for the offer and any damages claims against Paramount,” Paramount said in a news release following the filing.

Ellison’s backing directly addresses a concern that the Warner Bros. board cited when encouraging its shareholders to turn down Paramount’s offer: that the offer was backed by a revocable trust. According to the board, that meant Paramount could back out of the contract if it so chose.

Netflix also got more of its ducks in a row for its WBD offer on Monday, refinancing part of its $59 billion bridge loan with longer-term and lower-cost debt.

Shares of Warner Bros. Discovery are climbing in premarket trading, and event contracts show increased optimism in Paramount’s likelihood to end up buying WBD (50% as of 8:43 a.m. ET, up from 27% as of 8:00 a.m. ET).

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. Event contracts trading is offered by Robinhood Derivatives, LLC, a registered futures commission merchant with the CFTC.)

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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