Why Paramount Global Stock Soared 9% Higher on Friday
A potential collaboration with a major tech company sent Paramount Global's (NASDAQ: PARA) stock skyward on the last trading day of the week. The storied entertainment company's share price improved by 9% during the session, easily trouncing the 0.6% gain of the S 500 index on the day.
Friday morning, The Wall Street Journal reported that Paramount and (NASDAQ: AAPL) are in talks about bundling their video streaming services together. Citing unnamed "people familiar with the discussions," the newspaper said that a bundle of Paramount+ and Apple TV+ might end up being priced lower than the current charges for both services individually.
If accurate, the reported talks between Paramount and Apple would be the latest indication that streamers are continuing to make their services viable financially. Low prices, high costs, and customer defections have made the business extremely challenging. Offering value to consumers is one way to keep subscriber numbers up and cash rolling into the coffers.
Source Fool.com
Apple Inc. Stock
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With a target price of 227 € there is a slightly positive potential of 12.52% for Apple Inc. compared to the current price of 201.75 €.
