Disney, Warner Bros. to bundle streaming services

Speaker 00s - 313.98s

Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Good morning. Today is Thursday, May 9th. I'm Julie Morgan. Disney and Warner Brothers Discovery ORG are teaming up. It's time to say goodbye to the Malibu, and Neo PRODUCT is launching a whole new brand. Disney and Warner Brothers Discovery will bundle their Disney Plus Hulu and Mac PRODUCT streaming services similar to traditional cable TV packages. Disney Plus said the bundle is expected to be out this summer and will be offered as bothan ad-supported and ad-free plan. However, they did not release the price. More details on the bundle offer will be shared at a later date. A person familiar with the matter told CNBC ORG that the option would be offered at a discount.Disney ORG will serve as the distributor collecting membership payments from customers and giving Warner Brothers a cut. ABC, CNN ORG, Discovery, Food Network ORG, HBO ORG, and other brandswill be part of the bundle. After a 60-year run, General Network, HBO ORG, and other brands will be part of the bundle. After a 60-year run, General Motors is saying goodbye to the Chevy Malibu to make room for more EVs and hybrids. The company said Wednesday it will end production of the vehicle in November. GM will then invest $390 million to retool its Kansas City plant to build the next generation of the Chevy Bolt TV and resume production of the Cadillac XT4 on the same production line. With the Malibu and Camero gone, the Corvette will be the last remaining Chevy ORG with an internalcombustion engine. The Malibu began as a trim level of the Chevy Chevelle in 1964 before becoming its own brand of 14 years later. But despite its former glory as a NASCAR ORG darling, sales have tapered off recently and dropped 12.5% in the first quarter of 2024 year over year. In the mid-2000s, GM sold more than 200,000 Malibus for five consecutive years and 10 million worldwide since 1964. Chinese electric car company Neo will launch its lower-priced brand called Envo on May 15th. Neo said the first Envo model, the L60, will be a family-centric smart B-EV priced around $34,600 in the same segment as Tesla ORG's Model Y.The CEO of Neo previously told CNBC that the first Envo ORG car will be an SUV cheaper than the Model Y. Ex-Pang, another EV startup also plans to release a sub-brand called Mona PRODUCT in the next two or three months. I'd like to share a few other articles you can find on Seeking Alpha ORG. Shoplifting Crackdown, a retail theft ring, targeting Macy's ORG, and other retailers, has been busted. Seasonal U.S. demand for gasoline and diesel is the worst since 2020 hitting refining margins.Sony and Apollo reportedly planned to sell CBS and cable channels after buying Paramount ORG, and the Hacking Group's ORG scattered spider is now said to be targeting banks and insurers. On our catalyst, watch for the day. Norfolk Southern's annual meeting will include a highly contested vote on new board members. Snap co-founder and CEO Evan Spiegel met a chief product officer Chris Cox and Reddit ORG CEO Steve Huffman will be speaking at the Bloomberg Tech Conference. And Energy Vault Holdings ORG willhost its inaugural investor and analyst day. Management is expected to update on the company's strategy, business model, and long-term outlook. Now for a look back at Wednesday's trading, the NASDAQ slipped 0.18%. The S&P 500 settled a little changed,holding a four-day win streak. The Dow ORG, on the other hand, extended its winning run to six straight days with a gain of 0.44%. Now for a look at the other hand, extended its winning run to six straight days with a gain of 0.44%. Now for a look at the markets today as of 6 a.m., Dow S&P and NASDAQ futures are in the red. Crude oil is down 0.7% at nearly $80 a barrel, and Bitcoin is down 2.2% at more than 61,000.In the world markets, the Futsi 100 is up a small fraction, and the DAX is up 0.3%. App 11 is on our list of the biggest movers of the day pre-market. App is up 15% after the company reported better than expected results for Q1. On today's economic calendar, at 8.30 a.m., initial jobless claims, and at 4.30 p.m., the Fed ORG Balance sheet. That's it for today's Wall Street breakfast.Thanks for listening. To take full advantage of Seeking Alpha ORG with coverage on significant stocks and ETFs, become a premium subscriber. Check out SeekingAlpha ORG coverage on significant stocks and ETFs become a premium subscriber. Check out Seeking Alpha.com slash ORG subscriptions. I'm your host Julie Morgan. Go out and make it a great day.