Needham analyst Laura Martin reiterated a Buy on Paramount Global (NASDAQ: PARA) and a $36 price target. Martin fine-tuned her quarterly estimates to reflect more robust DTC profits in 3Q22 but weaker DTC profits in 4Q22 versus her prior forecast. Despite weak scatter pricing, she believes PARA's linear TV business will operate at breakeven in 2H22, aided by solid political ad revenues of $220 million, by her estimate. Linear TV is today's cash cow paying for OTT since PARA does not own Theme Pa Read More...
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The Real Reason Behind Amazon’s Prime Day Round 2
Amazon (NASDAQ: AMZN) surprised the market and delighted its most loyal customers in September when it announced a second Prime Day this year. Started in 2015, Prime Day is the annual shopping extravaganza designed to drive membership for Amazon Prime, the company’s loyalty program that now has more than 200 million members. Amazon touted the second Prime Day, which will be held Oct. 11-12, as a way for members to get early access to holiday deals from brands like Peloton Interactive and New Balance.
