===Trump’s Plan to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act ?

• Reports suggest Trump is planning to reclassify marijuana as a Schedule III drug from Schedule I, moving marijuana out of a group that includes heroin and placing it among the ranks of substances such as combination pain medications. Such a change would also alter the tax requirements for cannabis companies. 

Reports emerged late on December 11, 2025, indicating President Donald Trump intends to issue an executive order directing federal agencies to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act. 

This shift would acknowledge marijuana's accepted medical uses and lower abuse potential, while crucially allowing cannabis companies to deduct business expenses under Section 280E tax rules—currently a major profitability barrier. The news ignited sector-wide enthusiasm, with TLRY leading gains as investors anticipated improved financials and broader legitimacy for the industry. Trading volume spiked in after-hours, reflecting momentum from prior legislative buzz like the senator's cannabis bill earlier in the week, amplifying optimism amid ongoing U.S. reform discussions.

==Oracle (ORCL) reported earnings on Wed 10 Dec 25 (a/h)

• Oracle has become a central player in the AI rally by racking up a massive backlog of cloud infrastructure contracts, with a $300 billion deal with ChatGPT creator OpenAI the most prominent. That deal sent Oracle stock soaring following its most recent earnings results in September, before fears about the huge investment required to meet that demand has since powered a selloff for share of the enterprise tech firm. Oracle is borrowing heavily to build the data center capacity, including an $18 billion bond sale. 

Oracle beats EPS expectations by $0.62 but missed revenue expectations. The company's remaining performance obligations (RPO) grew 15% sequentially to $523 billion. 

• Reports Q2 (Nov) earnings of $2.26 per share, excluding non-recurring items, $0.62 better than the FactSet Consensus of $1.64; revenues rose 14.2% year/year (+13% CC) to $16.06 bln vs the $16.19 bln FactSet Consensus.
  • Q2 RPO $523 bln, up 438% yr/yr and 15% sequentially.
  • Q2 Cloud Revenue (IaaS plus SaaS) $8.0 billion, up 34% in USD and up 33% CC.
  • Q2 Cloud Infrastructure (IaaS) Revenue $4.1 billion, up 68% in USD and up 66% CC.
  • Q2 Cloud Application (SaaS) Revenue $3.9 billion, up 11% in both USD and constant currency.

Warner Bros. Discovery (WBD) to be acquired by Netflix (NFLX) for $72 billion

Netflix (NFLX) has entered into a definitive agreement to acquire Warner Bros. Discovery (WBD) in a cash and stock transaction worth $72 billion was perhaps the most widely discussed happening today. 

• Paramount Skydance (PSKY), which also submitted a bid for WBD traded sharply lower, with CNBC reporting that the company is considering taking a direct bid to WBD's shareholders. 
• If approved, this marks Netflix’s transformation from streaming disruptor to Hollywood establishment power. But the move could trigger the defining antitrust battle of the streaming era, testing whether regulators will allow one company to dominate both content creation and distribution at this scale.

The details:

Netflix would acquire Warner Bros.’ film and TV studios plus HBO and Max, in a transaction valuing the business at about $82.7B. The combined entity would merge Netflix’s 300M+ subscribers with WB’s century-old legacy and franchises like Harry Potter, DC titles, and HBO series. The deal faces intense regulatory scrutiny, with the Directors Guild of America and exhibition groups already warning of dire consequences for filmmaking. Netflix is offering a $5B breakup fee if regulators block the deal, signaling its commitment despite antitrust concerns.

Paramount Skydance Corporation (PSKY)

David Ellison (son of Oracle co-founder Larry Ellison) founded Skydance Media in 2010 with a vision to create premium, franchise-driven content. His leadership and financial backing transformed it into a major independent studio, culminating in the 2025 merger with Paramount Global to form Paramount Skydance Corporation (PSKY).

== Planet Labs (PL) reported earnings on Wed 10 Dec 25 (a/h)

 

Planet Labs beats by $0.03, beats on revs; guides Q4 revs above consensus

• Reports Q3 (Oct) net of breakeven, excluding non-recurring items, $0.03 better than the FactSet Consensus of ($0.03); revenues rose 32.6% year/year to $81.25 mln vs the $72.19 mln FactSet Consensus.
  • Increased RPOs +361% YoY to $672 mln; Backlog +216% YoY to $734 mln.
• Co issues upside guidance for Q4, sees Q4 revs of $76-80 mln vs. $73.64 mln FactSet Consensus.