Warner Bros. Discovery (WBD)

The Fed will cut rates which helps WBD lower their debt, but he needs to see a quarter that demonstrates a lot of cash flow.

Their recent quarter saw revenues and adjusted EBITDA beat, but still didn't match high market expectations due to Barbie's success. Problem is, they can't pay down their debt as fast as they planned--$43 billion in net debt. Huge.

They report Friday. They have a challenging balance sheet. He wants to hear about cord-cutting and advertising (leaving TV and going into the internet?). The CEO can make things happen, given his experience.

Warners is hosting a press event Wednesday. Buy shares ahead of it. He expects them to talk about cost efficiencies which the audience should welcome.

#4 performer in Q1, up 59%. Had an up and down 2022 after last year's merger. The stock has been over-hated and he loves their content.  But their debt is too high.

Tanked last year, saddled with $50 billion in debt, but is rallying this year. AT&T shareholders didn't want to own WBD. Was down over 60% last year, but the 4th-best stock this year.