TSOH Weekly Roundup (07/24/2026)
Welcome to another edition of TSOH Weekly Roundup.
Each update features a Chart of the Week, along with a brief discussion on three news items relevant to companies in the TSOH investable universe.
Chart Of The Week (from “Netflix: What’s Coming Next”)
Three Notable Items
“Judge Temporarily Blocks Paramount-Warner Deal”
As it relates to last week’s discussion on the future of NBCUniversal, a concern of mine is that sustained regulatory pressure on the PSKY / WBD merger may discourage others from pursuing similar actions with NBCU.
“The 14-day restraining order means Paramount will fall short on its hopes to have the deal closed before the end of the month. If the court later grants the states a preliminary injunction, the companies would be barred from closing the merger while the antitrust lawsuit proceeds.”
“Why Microsoft’s $80 Billion Xbox Bet Backfired”
A short WSJ video detailing the challenges that Xbox has faced with its subscription service, Game Pass. Rethinking the role of the subscription service is part of a broader overhaul for Microsoft’s gaming business; as Xbox CEO Asha Sharma recently told employees, “Over the past five years, we spent over $20 billion on ongoing investments in our content, platform, and hardware subsidy, but our annual revenue has declined nearly half a billion during that time [ex ATVI]. Going forward, this cannot continue.”
“In 2025, with the next ‘Call of Duty’ game [‘Black Ops 7’], they raised the price of Game Pass Ultimate from $19.99 to $29.99… While executives projected Game Pass would reach ~77 million subscribers this year, it currently has less than half of that (~30 million)… Microsoft is changing course: in recent months, Xbox cut the price of Ultimate to $22.99, and they won’t release the next ‘Call of Duty’ game on Game Pass on day one.”
An Economist article about the global leader in the energy drinks business, which has been finding its way forward following the death of founder Dietrich Mateschitz in October 2022. For TSOH, while Monster has ran away from us (for now), Celsius has seen its stock price decline >50% since October 2025.
“Red Bull has continued to fly. Last year it sold 14 billion cans, up by 10% from 2024. It has 28% of the global market, ahead of main rival Monster with 17%... Red Bull spends around 30% of sales on marketing - more than $3.4 billion last year… The company eschews conventional advertising, instead making its own content through Red Bull Media House. It encompasses a TV network, film and TV studios, a record label and several magazines.”
TSOH Updates
Here’s the updated TSOH research list for the past six months:
Monday’s post will be an update on Ally Financial (ALLY).
Have a great weekend!
NOTE - This is not investment advice. Do your own due diligence.
I make no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information presented in this report. Assumptions, opinions, and estimates expressed in this report constitute my judgment as of the date thereof and are subject to change without notice. Projections are based on a number of assumptions, and there is no guarantee that they will be achieved. TSOH Investment Research is not acting as your advisor or in any fiduciary capacity.