Today is Monday, July 13, 2026.
The Early Bird Index today is 89.82.
New to this newsletter? Sign up here
Paramount vs. California 🎬
While Paramount Skydance’s $PSKY ( ▲ 2.66% ) $110 billion merger of Warner Bros Discovery $WBD ( ▲ 2.26% ) is not final yet, the company is reportedly considering moving its corporate headquarters.
Details: On Sunday, Semafor reported that Paramount may move its operations and spending out of California if state regulators attempt to block the acquisition. No decision on the matter has been made yet.
Background: Paramount’s deal to buy Warner Bros was announced months ago. The transaction is still alive, but there is some risk to it.
Federal regulators approved the acquisition in June, and the company is currently in conversations with regulators in Europe.
The most material unresolved issue is state-level antitrust action. States such as California and New York could step in to stop the deal.
Early Bird’s Nest Egg Gains: Investors should see this as a real but probably manageable risk rather than a thesis-breaker.
The bigger issue is not the symbolism of leaving California; it’s whether a state fight delays or blocks the deal, because that would matter more for Paramount’s valuation than relocating operations.
If Paramount actually moved more operations out of California, the near-term cost could be meaningful, but likely not catastrophic for a large media company.
Final Thoughts: Paramount’s stock is down 28.60% this year. Warner Bros is down 6.73%.
PRESENTED BY INSURIFY
Save up to $1,100* by comparing auto quotes
You could be saving up to $1,100* on your auto insurance — but only if you're actually comparing. Most drivers stick with their current carrier out of habit, not because it's the best deal. Insurify changes that in minutes.
Enter your info once and instantly see real quotes side-by-side from top insurers. No phone calls, no spam, no fees — just a clear look at what you're actually paying versus what you could be paying.
The savings are real. The process is fast. The only question is why you haven't compared yet.
Average potential savings based on initial quotes received by 151,494 customers seeking insurance through Insurify. Actual savings may vary depending on state of residence, individual circumstances, coverage selections, and insurance provider. Savings and lowest rates do not reflect typical results.
Notables
Notable Earnings Today: Grupo Aeromexico SAB (NYSE: AERO), FB Financial (NYSE: FBK).
Notable IPOs Today: Research Alliance Corporation IV Class A Ordinary Shares (Nasdaq: RACD), Texas Ventures Acquisition IV Corp Class A Ordinary Shares (Nasdaq: TVIV), Yorkville International Capital Corp. Class A Ordinary Shares (Nasdaq: YICC).
Notable Equity Crowdfunding Campaigns Ending Today: The Upper Crust #3 (Honeycomb Credit), Vineyard to Vintage (Honeycomb Credit).
Notable Economic Events Today: Federal Budget Balance (2:00 p.m. ET).
Disney's 'Moana' Tops With Miss
Gif by disneystudios on Giphy
No surprise here! Disney’s $DIS ( ▲ 1.3% ) live-action “Moana” was the top movie at the box office this past weekend, but its ticket sales missed estimates.
Details: “Moana” received over $43 million this past weekend, its first in theaters, taking the top spot at the domestic box office. It earned $95 million globally.
Yes, But: The movie was projected to earn more than just $43 million, but bad reviews kept audiences away this week.
Final Thoughts: Disney’s stock is down 14.51% this year.
XRP’s Bad Slump Continues
In cryptocurrency, the price of XRP $XRP ( ▼ 2.83% ) fell more than 1% on Sunday even as other major cryptos remained flat. It is down over 6% this week.
Final Thoughts: XRP has lost over 40% of its value since the start of the year. It is down due to structural selling pressure from Ripple's monthly token releases and broad liquidations in crypto.
Trends to Watch
Life in the Big Cities: Big-Box Retailers Have a New Strategy for Breaking Into Urban Markets (New York Times)
Real Estate Stake: Brookfield Plans to Buy Stake in Hudson Square Complex in Bet on Manhattan Tech Hub (Wall Street Journal)
No Fears: Stablecoin market cap has shrunk by $10 billion since May, but analyst sees no reason to panic (CoinDesk)
Missing the Mark: Meta withdraws its controversial AI image feature (Mashable)
Big Week: Earnings season kicks off and a wave of inflation data (Yahoo! Finance)
Thank you for reading!
Forward to a friend and tell them to sign up here.
Pick winning stocks: Upgrade to Early Bird Prime.
Become a smarter investor: Get Early Bird Exclusives
Want more investing tips? Listen to the podcast.
Show Your Support: Buy Me a Coffee.
Questions or comments? Hit reply to reach out.
The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations, and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.
