E*TRADE Generation Trader - Studios That Won Big at Oscars
In this episode of Generation Trader, Cheddar Anchors Brad Smith and Hope King look at which movie studios came out on top at the 90th annual Academy Awards.
Fox Searchlight's "Shape of Water" earned Oscars for production design, original score, best director, and best picture. The hit movie has generated more than $57 million at the box office in the U.S., becoming the highest-grossing best picture winner in five years. Shares of 21st Century Fox, the studio's owner, are relatively flat over the past month but up about one percent Monday.
Fox Searchlight is one of the assets Disney is looking to acquire from 21st Century Fox in a $66 billion deal still pending regulatory approval.
Warner Brothers won five Oscars in total for its hits "Dunkirk" and "Blade Runner 2049." Shares of its parent company, Time Warner, are down about 3 percent over the past month.
Netflix won its first feature film Oscar for its documentary "Icarus." This comes amid news that the streaming service plans to create 700 original shows and movies this year, with a budget of $8 billion for original content. Netflix is having a strong month in the market.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
