LT Weekly: Feb 27, 2026
The tech landslide continued this week with Nasdaq falling -1% (the S&P 500 fell -0.4%). February was Nasdaq’s worst month since March of 2025 and the carnage on Monday was of particular note (see Theme #2).
Earnings was a focal point yet again (Week 6!) with all eyes on Nvidia’s print in particular (see Theme #3). We also had key updates out of Media Entertainment, Ad Tech, Live Events, among others.
See below for what we focused on in this edition.
- Earning Scorecard – Week 6
- AI-Fear Hits A New Level Given The Perfect Storm Of Updates While AI Valns Reach New Highs
- Will Nvidia’s Huang Be Right In That “More Compute = More Revenue”?
- Paramount Is Now Positioning For Its Next Act…Paramount + WBD
- Not To Be Forgotten Amongst It All, WBD Also Reported Its Q4 Numbers
- The Trade Desk Remains Under The AI + Heightened Competition Microscope
- TKO Continues To Shift Towards Higher Margin, Contractual Media Rights & FIPs
- A Few Other Quick Earnings Takes…Salesforce, CoreWeave, & CLEAR Secure
Also to flag, see our SPOTLIGHT section below for a new LionTree Podcast conversation between Tarek Mansour, Founder and CEO of Kalshi, and Rich Kleiman, Founder and CEO of Boardroom. It is worth a listen!
Lastly, LionTree Advisors is proud to have served as financial advisor to Paramount Skydance on the announced all cash acquisition of Warner Bros. Discovery, valued at $110bn. This continues the firm’s long-standing advisory relationship with Paramount, following its roles in the combination of CBS and Viacom in 2019, the sale of Simon & Schuster to KKR from Paramount Global in 2023 and the merger between Paramount Global and Skydance Media in 2025.
Have a nice weekend.
Best,
Leslie
Spotlight
On a special episode of The LionTree Podcast, we explore how prediction markets are re-shaping the way we understand uncertainty, truth and decision-making. In partnership with Boardroom, the media brand at the intersection of sports, business and entertainment, we present a conversation between Tarek Mansour, Founder and CEO of Kalshi, and Rich Kleiman, Founder and CEO of Boardroom. Watch now HERE.
Earning Scorecard – Week 6
This was Week 6 of the TMT earnings storm (are we almost done??!). In total, 48 stocks in our LionTree Universe reported. Stock reactions skewed positive despite the markets selling off, with 26 stocks trading up and 22 trading down.
Probably the most widely followed print was NVIDIA, which fell -6% in reaction (see Theme #3) while the best performer in reaction to earnings was Rackspace, which was up +69%, and the worst performer was CoreWeave, which fell -19% (see Theme #8 for the quick take).
Media giants were in the headlines this week and, in addition to deal announcements, Paramount and WBD also reported their qtrly results and were up +10% and -0.3%, respectively, in reaction (see Theme #4 for Paramount and Theme #5 for WBD).
Elsewhere in the sector, The Trade Desk was down -5% in reaction (see Theme #6) and TKO Group was up +8% (see Theme #7). CLEAR Secure rallied +39% (see Theme #8), and Salesforce rose +4% (see Theme #8).