Warner Bros Discovery rises on report company moving toward split-up

Shares of Warner Bros Discovery WBD.O rise 6% to $9.10

WBD is moving towards splitting the company, according to a CNBC report

Last year, co decided to separate its declining cable TV businesses such as CNN from its streaming and studio operations

Warner Bros also missed first-quarter revenue estimates on Thursday, which sent shares lower prior to the CNBC report

Revenue fell 10% in the first three months of 2025 to $8.98 billion, missing analysts' average estimate of $9.60 billion, according to data compiled by LSEG.

Up to last close, stock had fallen 19% YTD