Warner Bros. Discovery

The M&A saga captivating Hollywood has taken another dramatic twist.

Paramount Skydance on Monday made a $77.9 billion hostile takeover bid for all of Warner Bros. Discovery, escalating its battle against Netflix for the storied entertainment giant.

Netflix on Dec. 5 agreed to buy Warner Bros. for $72 billion after Warner splits its studios and HBO Max streaming business from its cable networks.

Paramount, run by David Ellison, is arguing that its all-cash offer for all of Warner is a better deal for shareholders and more likely to pass regulatory muster. By taking its offer directly to Warner's shareholders, Paramount may be setting the stage for a messy, public fight.

Warner and Paramount shares both rallied, while Netflix shares stumbled. Warner shares gained 4.4% Monday.

GameStop

Collectibles were the sole bright spot in GameStop's latest quarter.

The videogame retailer and original meme stock posted declining quarterly revenue, as its hardware, accessories and software sales declined.

GameStop's collectible business -- which includes trading cards, toys, action figures and other memorabilia -- increased 50% to $256.1 million. The segment now makes up nearly a third of all revenue, up from 20% the year before.

Meanwhile, the company's bitcoin holdings decreased in value during the quarter to $519.4 million, down from $528.6 million at the end of the previous quarter.

GameStop shares dropped 4.2% Wednesday.

Walt Disney

Disney is bringing its kingdom of characters to OpenAI.

The entertainment giant is investing $1 billion in the artificial-intelligence startup and will allow OpenAI users to generate short social videos featuring its characters and properties.

As part of Disney's three-year licensing deal, more than 200 Disney, Marvel, Star Wars and Pixar characters will be available on Sora, OpenAI's short-form AI video platform. The companies didn't disclose the arrangement's financial terms.

The companies announced the deal a day after Disney sent a cease-and-desist letter to Alphabet's Google accusing the tech giant and its AI apps of "infringing Disney's copyrights on a massive scale."

Disney shares gained 2.4% Thursday.

Campbell's

Campbell's sales are being drained by President Trump's tariffs during what the company calls "the critical soup season."

The soup-and-snack maker on Tuesday posted better-than-forecast results for the quarter, though its profit and revenue both fell. Campbell's said that tariff-related price increases weighed on its ready-to-serve soup business, which include its Chunky and Homestyle brands.

Chief Executive Mick Beekhuizen said Campbell's had been highly selective in raising prices for shoppers as it works to mitigate rising costs.

The company said that it continues to expect a significant impact from tariffs in fiscal 2026, totaling about 4% of its cost of products sold.

Campbell's shares dropped 5.2% Tuesday.

Eli Lilly

Eli Lilly's next generation weight-loss drug notched a new win on its path to market.

The pharma giant said its drug, retatrutide, helped people lose up to 28.7% of their body weight after more than a year of treatment -- significantly more than what existing drugs can provide.

The drug, like Novo Nordisk's Ozempic and Wegovy and Lilly's own Mounjaro and Zepbound, works by mimicking three gut hormones to help regulate appetite and increase a person's energy expenditure.

A big-selling new product could allow Lilly to sustain its booming success in the weight-loss market, alongside sales of Mounjaro and Zepbound.

Lilly shares rose 1.6% Thursday.

Lululemon Athletica

Lululemon is looking for a new leader to reverse its faltering sales and what its founder has called its "loss of cool."

The athletic apparel company said Chief Executive Officer Calvin McDonald will step down in January and relinquish his board seat. Chief Finance Officer Meghan Frank and Chief Commercial officer André Maestrini will serve as interim co-CEOs.

His exit comes as Lululemon's estranged founder, Chip Wilson, had privately been taking steps to run a proxy fight, frustrated with Lululemon's marketing strategy, among other things, The Wall Street Journal reported.

The company also posted quarterly results Thursday. International markets drove Lululemon's growth in net sales, while Americas revenue fell 2%.

Lululemon shares jumped 9.6% Friday.