Moelis Shares Surge on Netflix Deal, Despite Yearly Drop

Moelis and Companys shares surged in morning trading following news of their advisory role in Netflixs acquisition of Warner Brothers, a deal valued at $82.7 billion. This high-profile win boosts Moelis reputation and brings in substantial fees, despite the stocks typical volatility. Market sentiment also favored Moelis, with increased expectations for a December rate cut, potentially benefiting the economy and indirectly aiding firms like Moelis. However, shares are still down 7% this year, trading at $69.06, 15% below their 52-week high.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.