Netflix stock rises as Paramount lawsuit turns up heat on Warner deal, HSBC starts with Buy
Netflix shares rose 0.7% to $90.07 after Paramount Skydance sued Warner Bros. Discovery, seeking more disclosure on Netflix’s $72 billion acquisition deal and hinting at a proxy fight. Paramount’s $30-per-share cash offer expires Jan. 21 unless extended. HSBC initiated Netflix coverage with a Buy rating ahead of its Jan. 20 earnings report. Warner Bros. Discovery shares fell 1.3%.