The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1240 ET - A group of 12 state attorneys general sued to block Paramount's acquisition of Warner Bros. Discovery, posing a threat to the $81 billion megadeal. The coalition requested Paramount and Warner not close the merger until after the lawsuit concludes or they will file a temporary restraining order to attempt to stop the deal from moving forward. The lawsuit marks the biggest obstacle to the deal the companies have faced since announcing the merger, given the Justice Department and many international territories have already signed off on it. If the states delay the deal, Paramount could also face financial implications, given its required to pay Warner shareholders a quarterly ticking fee if the deal doesn't close by Sept. 30 as part of the acquisition agreement. (kelly.cloonan@wsj.com)
1233 ET - In a lawsuit challenging Paramount's acquisition of Warner Bros. Discovery, a coalition of state attorneys general alleged the deal would violate antitrust law by cutting down on competition in the film distributor market, and in anticipated blockbuster film distribution in particular. That would harm movie theaters, given they rely on competition between the two companies to incentivize creativity and secure competitive prices, the AGs say. The deal would also hurt competition in the market for distributing basic cable channels to cable and satellite providers, they say. As a result, the acquisition "would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the U.S.," said California Attorney General Rob Bonta, who led the coalition. (kelly.cloonan@wsj.com)
1211 ET - The value of Mattel's business only begins at the toy aisle, UBS analysts write, saying the stock represents "one of the most compelling valuation disconnects in the consumer and entertainment space today." They attempt to estimate the company's "brand equity," or the value of its consumer perception, trust, and loyalty, and find that three different methods all yield a valuation well above the stock's current levels, as investors continue to treat the company as an old-school toy manufacturer. "What Mattel actually owns is one of the most concentrated portfolios of evergreen, multi-generational family entertainment IP," the analysts write. "We believe very little of that IP has been monetized. The toy aisle represents the floor of what this asset base can generate - not the ceiling." They assign the stock a $28 price target, and shares gain 6% to $14.13. (elias.schisgall@wsj.com)
1156 ET - Dollar General's outlook could be conservative given a recent downturn in gas prices, JP Morgan analysts say in a note after meeting with the company's management. The discount retailer's full-year outlook for same-store sales growth of 2.2% to 2.7% assumes low-income consumers will continue to come under pressure from high gas prices, and increasingly shift toward $1 items, the analysts say. However, lower gas prices could provide additional dollars for those consumers to spend during the summer, and potentially for another one to two quarters out, the analysts say. That trend would provide upside to both the company's outlook and Wall Street's estimates, the analysts say. Shares rise 4.4%. (kelly.cloonan@wsj.com)
1147 ET - The situation in Iran is precarious and could escalate following the collapse of Trump's ceasefire, meaning prices for consumer goods could remain elevated for longer than expected JPMorgan analysts Richard Shane and Hong Zhang say in a research note. Any price change could lag the decline in underlying oil prices. And the resumption of fighting reintroduces a risk of energy price spikes that would squeeze lower- and middle-income consumers most acutely, the analysts say. They believe the full impact of these geopolitical shocks on the real economy has yet to be realized. Two forces compounding the geopolitical risk is a cooling labor market and an upward shifting rate outlook, the analysts say. (dean.seal@wsj.com)
1138 ET - Apple looks like it will continue to buck a slowdown among its smartphone competitors, Citi analysts say in a note. The company has a strong foothold in the mid-range price segment through promotions and subsidies, and its premium brand and loyal customer base should limit any pressure on demand as it raises some prices to offset higher component prices, the analysts say. The company will likely keep gaining market share as a result, the analysts say, while they forecast the smartphone and personal computer market to decline at a mid- to high-teens rate.(kelly.cloonan@wsj.com)
1132 ET - Water levels on the river Rhine have been tracking below levels seen in 2018 and 2022, when shipping faced severe disruption, Deutsche Bank's Marc Schattenberg says in a note. The Kaub water gauge, located in the narrow rocky stretch of the Middle Rhine, was at just 53cm on Monday. That means a typical container vessel can pass only if loaded to less than 20% of capacity, Schattenberg says. Firms face additional charges, generally rising as lower water levels force vessels to carry fewer containers. If the Kaub gauge falls to around 40cm or below, freight shipping is usually suspended, he says. The problem is compounded this year as the right-bank Middle Rhine line--a key freight route--is closed from July to December for refurbishment, Schattenberg notes. (edward.frankl@wsj.com)
1124 ET - The count of decking contractors reporting stronger-than-normal backlog levels is skewing positive for the first time in over two years, Davidson analysts Kurt Yinger and Aditya Madan say in a research note. Their survey of those contractors points to a modest acceleration in growth compared with recent quarters. There won't likely be a big boom of decking projects this year, as homeowners are still hesitant to move forward as they weigh the costs for materials and other elements of the project. Growth in the next three to six months should be consistent previous expectations, they say, keeping Trex as its top pick in the building products sector. (dean.seal@wsj.com)
1111 ET - The market's jitters around Netflix are excessive heading into the company's quarterly earnings, Oppenheimer analysts say in a note. Investors have concerns over weaker viewership, but the company has a stronger content slate set for the second half with 104 releases versus 95 in the same period a year earlier, which should allow viewing to accelerate. Wall Street's fears over churn are also overblown, the analysts say, citing a survey that suggests far more Netflix subscribers are watching more versus less compared to six months ago, even if some ad-supported subscribers have downgraded their subscriptions. Taking those factors into account, the analysts say the stock is likely oversold. They lower their price target to $100 from $120, noting a near-term headwind from lower advertising monetization. (kelly.cloonan@wsj.com)
1048 ET - Bitcoin managed to stay rangebound last week, between the $62,000 to $64,000 range, according to data from CoinGlass. That's even with ongoing concerns surrounding the global inflation picture and bitcoin's viability amid sales of bitcoin announced by Strategy, owner of the largest bitcoin treasury in the world. "Bitcoin was tested from every direction last week," says analysts with Bitfinex, noting that the relatively narrow range that bitcoin traded at should be encouraging for investors. That said, the sentiment around inflation globally looks to keep bitcoin's movement to the upside limited, says the firm. Bitcoin is down 2.6% to $62,496. (kirk.maltais@wsj.com)
1035 ET - BofA Securities forecasts a robust June retail sales report, aligning with the resilience consumers have shown in recent months despite higher inflation readings. However, there were four potentially large crosswinds to retail spending, and they had low conviction on how those factors netted out, they continued. Tailwind factors include World Cup spending, Amazon Prime day promotions, and other related promotions into June. Headwinds could include slowing gas prices (because retail sales are measured in nominal terms) and seasonal factors. Economists polled by The Wall Street Journal expect a 0.2% month-over-month increase. (jessica.coacci@wsj.com)
1031 ET - The rebound in bitcoin prices seen late last week is under pressure to start this week, this as the Russia-Ukraine and U.S.-Iran conflicts are garnering more attention from investors that are worried about rising hostilities in both clashes. "Bitcoin [is] in retreat this morning breaking beneath $63K as the geopolitical escalation triggers negative factors for the crypto sphere," says Monte Safieddine of Capital.com in a note. Ongoing war is adding to concerns about rising inflation worldwide. Bitcoin falls 2.8% to $62,357. Other major cryptocurrencies are lower as well, with ethereum down 2.7% to $1,771, XRP dropping 2.5% to $1.07, and solana down 2.1% to $75.80. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
July 13, 2026 12:40 ET (16:40 GMT)
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