Market Movers | Netflix Jumps 8% After It Exits WBD Deal; Dell Gains 16%; Block Soars 17% on Major Layoffs; Duolingo Tumbles 17%

Tiger Newspress02-27 17:22

Netflix said Thursday that it was walking away from its agreement to acquire Warner Bros. Discovery, after WBD said it had determined that a last-minute bid by Paramount Skydance was a better deal. Netflix shares jumped 8.32% on the news.

Block said it will cut over 4,000 jobs, nearly half its workforce, as part of an overhaul to embed artificial intelligence across its operations, sending shares of the payments firm up about 17%.

Dell said it expects revenue from its key artificial intelligence-optimized servers business to double in fiscal year 2027 and promised to return more cash to shareholders, sending its shares surging over 16%.

Duolingo forecast first-quarter and 2026 bookings below expectations as it shifts strategy toward faster user growth, a move it said will weigh on bookings growth and profitability this year, sending the company's shares down more 17%.

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