Ken Kahn

Netflix co-CEOs Greg Peters and Ted Sarandos say they're committed to theatrical releases for Warner Bros.

films, pushing back on concerns the studio would pivot to a streaming-first model.

According to Bloomberg, the executives made their case in a letter to employees as they respond to a rival bid from Paramount Skydance and address industry worries echoing through Hollywood about job losses and the future of theaters.

They frame the deal as growth-focused, strengthening an iconic studio, supporting jobs, and ensuring a healthy future for film and TV production.

While Netflix hasn't prioritized theatrical releases historically, Peters and Sarandos said that that will change once the deal closes, adding there would be no overlap or studio closures.

Netflix has offered a mix of cash and stock valuing Warner Bros.

assets at $72 billion and says it's confident the deal will clear.

Paramount is pursuing a competing $108.4 billion offer including debt for the whole company.

Netflix executives said the rival bid was expected, but emphasized they already have a solid agreement in place.

And in the Wall Street Research Corner, cyclicals have rallied sharply, beating defensives for a record 14 straight sessions before easing back, according to Goldman Sachs.

But Goldman says markets are still pricing in only about 2% real GDP growth in 2026, below its 2.5% forecast.

Within cyclicals, consumer and non-residential construction stocks look underpriced, with ground transportation and building products flagged as potential catch-up plays.

Names on the screen include Steel Dynamics, Union Pacific, Honeywell, Analog Devices, and Stanley Black & Decker.

You can see the full list in our story on Seeking Alpha.