MGM Shares Tumble 9% as Diller's People Withdraws Buyout Proposal

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3▲3 ▼3Impact / 5
Summary · why it matters

Barry Diller's People withdrew its proposal to buy MGM Resorts International, sending the casino giant's shares down more than 9% in premarket trading. Diller said, "We didn't feel the mix was coming together in the way we had hoped," but expressed his faith in the company, in which he still holds 66.8 million shares. Darden Restaurants shed 6.6% after its fiscal first-quarter earnings of $2.05 per share came in line with estimates, while revenue of $3.20 billion fell just shy of the $3.21 billion expected from analysts polled by FactSet; the company also reaffirmed its full-year guidance. BlackBerry added 2% after reporting adjusted earnings of 7 cents per share, topping the 4 cents expected, on revenue of $163.3 million versus the $142.5 million consensus estimate. Meta slipped 2% following its nearly 12% move higher so far this week on optimism around its Muse AI agent, after CEO Mark Zuckerberg introduced the company's $1,299 Meta VR Glasses and Muse Charm, its handheld device that works with Muse, late Wednesday. Knife River rose 5% following a Wall Street Journal report that activist investor Starboard Value has acquired a substantial equity interest in the construction materials and contracting services company, reportedly pushing for improved margins or a potential sale, while Everpure moved 6.7% higher on positive takeaways from its financial analyst meeting and preliminary 2028 guidance of $7 billion to $7.3 billion in revenue, topping the $6.19 billion anticipated from analysts polled by FactSet.

Impact on assets 9

Consumer Discretionary▼ · 2 stocks
MGM Resorts International
MGM
▼ NegativeCapitalrelevance

Barry Diller's People withdrew its buyout proposal for MGM Resorts, sending shares down more than 9%.

Darden Restaurants Inc
DRI
▼ NegativeCapitalrelevance

Darden's fiscal Q1 revenue of $3.20B fell just shy of the $3.21B expected, though EPS matched estimates.

Information Technology▲ · 2 stocks
BlackBerry Ltd
BB
▲ PositiveCapitalrelevance

BlackBerry reported adjusted EPS of 7 cents and revenue of $163.3M, both topping consensus estimates.

Everpure, Inc.
P
▲ PositiveCapitalrelevance

Everpure rose 6.7% on positive takeaways from its analyst meeting and preliminary 2028 revenue guidance of $7-7.3B, topping the $6.19B consensus.

Materials▲ · 2 stocks
Knife River Corporation
KNF
▲ PositiveCapitalrelevance

Activist investor Starboard Value acquired a substantial equity interest in Knife River, pushing for improved margins or a potential sale.

Critical Materials & Supply Chain▲ · 2 stocks
Spatial Computing / AR/VR▼ · 1 stocks
Meta Platforms Inc.
META
▼ NegativeCapitalrelevance

Meta slipped 2% after its nearly 12% weekly gain tied to optimism around its Muse AI agent and new VR/handheld devices.

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