Ericsson faces a particularly difficult stretch. The Swedish telecommunications giant signaled a decline in profitability within its core networks business, citing a sharp sales drop in North America. Compounding these headwinds, the company is grappling with persistently high chip costs that continue to erode potential gains.

In a separate move, Big Shot Pictures is looking to diversify its portfolio through a new partnership. Led by former Paramount co-CEO Brian Robbins, the firm acquired a 25% stake in the Alvin and the Chipmunks franchise. Working alongside Bagdasarian Productions, the company intends to develop both short and long-form film projects to revitalize the classic intellectual property.