Check out the stocks Heard on the Street writers favor in their eighth annual stock-picking contest.
Netflix, Disney, and YouTube are reportedly interested in bidding for the U.S. broadcast rights to the 2030 and 2034 FIFA World Cups, potentially challenging Fox. Amazon and Apple may also join the race, leading to a bidding war. FIFA plans to sell English and Spanish rights together, expecting bids between $1.5 billion and $2 billion per tournament.
Microsoft has implemented significant layoffs across its game development studios, including id Software and Bethesda. Reports indicate a majority of id Software employees, including coders, were let go, while Bethesda is also undergoing substantial staff reductions to focus on core franchises, impacting games like The Elder Scrolls Online.
Rivian's stock fell over 15% after announcing a public offering of 75 million shares to raise approximately $1.51 billion. The funds will support a loan agreement with the U.S. Department of Energy. The offering follows Rivian suspending its 2027 profitability target and precedes the launch of its new R2 SUV.
The Weather Channel's dedicated smart TV app subscription has increased by 66.7%, from $3/month or $30/year to $5/month or $50/year. This price hike reflects the challenges legacy media companies face in the streaming industry.
Venture capital firm Chemistry Ventures, founded by alumni from Bessemer, Index Ventures, and Andreessen Horowitz, is raising $500 million for its second fund. The firm, which focuses on early-stage AI startups, has a portfolio including Granola and Decagon. The new fund is reportedly oversubscribed.
AI law startup Norm announced a $120 million Series C funding round led by Khosla Ventures, valuing the company at $1.2 billion. Norm Law uses AI agents supervised by human attorneys to offer legal services, charging based on outcomes.
