Dec 3rd, 2023 – The stock of Paramount Global (PARA) experienced a 9% increase, while Apple (AAPL) (0.6 units @ 183.96) shares rose by 0.7% after reports emerged of discussions between the two companies regarding a potential collaboration in bundling their streaming services. The Wall Street Journal revealed that the talks involve creating a combined offering of Paramount+ and Apple TV+ at a lower cost than subscribing to them separately. The negotiations are still in the early stages, and the specific details of the potential deal are unclear.
Shares of Alphabet (GOOGL) (0.8 units, @133.93) that is as now the world’s third-largest technology company by revenue and one of the world’s most valuable companies, and shares of Microsoft (MSFT) tumbled after Alphabet’s Google called on European regulators to take Antitrust action against Microsoft for its dominance in the cloud computing market. The CMA (Competition and Markets Authority) already launched an investigation into Britain’s cloud computing industry in October, following a referral from media regulator Ofcom, which highlighted Amazon and Microsoft’s dominance of the market.
Robinhood Markets Inc. (HOOD) is set to make its international debut in the U.K., offering its commission-free trading platform to select customers with a full rollout planned for early next year. This marks the third attempt by Robinhood to enter the U.K. market, with previous endeavors in 2019 and 2022 facing challenges. U.K. users will gain access to over 6,000 U.S.-listed stocks and ADRs without foreign exchange fees, along with a 5% AER for cash holdings. Robinhood aims to address the historically high fees for U.K. investors in the U.S. market.
Author: Diego Russo