- SPCX
- SKYD
Entertainment media giant Skydance Corp. (NYSE:SKYD) ended two days of losses on Wednesday, jumping 10.85 percent to close at $7.87 apiece, as investors snapped up shares following speculation that Elon Musk-led SpaceX could invest up to $10 billion in its stake.
This followed media mogul Joe Malone’s speech at the Paley International Council Summit in New York City on the same day that SpaceX could pour between $8 billion and $10 billion into Skydance Corp. (NYSE:SKYD) following its successful merger with Warner Bros. Discovery, underscoring a win-win solution for both firms.
For Skydance, Malone said that any investment could help reduce pressure on the balance sheet, while giving SpaceX a path into content distribution.
Musk-Ellison Financial Links
The billionaire also underscored the long-standing financial links between SpaceX boss Elon Musk and Skydance’s Larry Ellison—whose son, David Ellison, chairs Skydance.
Malone underscored Larry’s $1 billion equity commitment to help Musk acquire Twitter, now called X. He later used Tesla to help fund Skydance’s acquisition.
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Malone said that SpaceX’s investment could help “take a little bit of the burden off David Ellison’s shoulders, because he’s taking on a pretty big pile of debt.”
Skydance Corp. (NYSE:SKYD) completed its acquisition of Warner Bros. earlier this month, creating one of the largest media giants in the world.
What to Watch Out For?
Skydance Corp. (NYSE:SKYD) is set to announce the results of its earnings performance in the third quarter of the year after market close on November 9, 2026. A conference call will be held to elaborate on the results.
Apart from earnings, investors will likely be watching out for cues about Malone’s speculations, which could emerge as a key catalyst for the stock.
In its last earnings call, Skydance said that it was targeting total revenues to grow by 4 to 7 percent to a range of $6.95 billion to $7.15 billion, with full-year figures to hit $30 billion, or an implied growth of 4 percent.
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