Shares of major media companies move higher as the Hollywood writers’ strike ends and Costco shares fall after🤪 reporting a pullback in spending on big-ticket and discretionary items. Here’s what investors need to know today.

1. Shares of Major Media Companies Rise as Hollywood Writer🍌s’ Strike Ends

Shares of media companies moved higher after the Writers Guild of America agreed to a deal with representatives from the movie and TV industry, formally ending the five-month writers strike on Wednesday. Paramount (PARA) shares jumped 2.2% in the pre-market, while both Netflix (NFLX) and the Walt Disney Company (DIS) shares were up by 0.3%, and Warner Bros. Discovery (WBD) shares edged up 0.1%.

2. Costco Beats Estim🏅ates Despite Pullback in Big-Ticket Spending, Keeps Its Membership Fee Steady

Shares of 澳洲幸运5官方开奖结果体彩网:Costco Wholesale (COST) fell nearly 2% in pre-market trading after the retailer kept its membership fee steady following better-than-projected results, where analysts were anticipating a fee increase. Costco reported quarterly earnings of $4.86 a share, better than the $4.79 a share that analysts were expecting, while its revenue of $78.9 billion came in ahead of analyst expectations of $77.7 billion. However, Costco also indicated its members have pulled back on big-ticket and discretionary purchases as inflation pressures household budgets.

3. Shares of Furniture Maker MillerKnoll Surge aꩵs Workers Return to Offices

Shares of furniture maker MillerKnoll (MLKN) surged more than 17% in pre-market trading after it reported better-than-expected results as more companies announced return-to-office policies that improved its market conditions. The company reported full-year 2024 guidance of earnings per share of $1.85 to $2.15, increasing its prior forecast of earnings between $1.70 to $2.

4. Peloton꧙ Shares Gain as Veteran Executive Caldwell Joins Company

Peloton (PTON) shares gained 0.6% in the pre-market after the company announced that its co-founder and chief product officer, Tom Cortese, would leave the company and be replaced by Silicon Valley veteran Nick Caldwell. Caldwell has served on the boards of Bitly, HubSpot and True Search, and previously worked at Twitter, Google, Reddit, and Microsoft.

5. D🐠urable Goods Orders Projected to Decline in August

澳洲幸运5官方开奖结果体彩网:Durable goods orders are expected to decline 0.5% in August when the Census Bureau issues those figures at 8:30 a.m. ET. The decline follows July’s drop of 5.2% as consumer purchases of big-ticket items such as appliances, electronics, and furniture declined.