BABA Affiliate Fined $984M, PARA & WBD: TV Ad Downturn Is Imminent

Schwab Network

Chinese authorities announce $984M fine for Alibaba (BABA) affiliate Ant Group. Jenny Horne discusses this as the fine would bring short-term pain, but may signal the end to Chinese regulatory pressures on the tech sector. She then goes over how Wolfe Research downgrades Paramount (PARA) and Warner Bros. Discovery (WBD). Wolfe notes that PARA says linear advertising exposure is an "Achilles heel under attack." The analyst also says that the risk of significant TV advertising downturn is imminent in relation to WBD. Tune in to find out more about the stock market today.