California Bancorp

Warner Bros. Discovery shares declined 1% Friday, closing at $27.14, as California's attorney general launched an investigation into Paramount's $31-per-share acquisition offer, adding to existing regulatory and financing concerns.

Eddie Bauer's store operator will shutter all 13 California locations after a bankruptcy auction failed to attract a qualified buyer. The closures mark the end of the brand's physical retail footprint in the state.

California's attorney general has opened an antitrust investigation into Paramount's planned $110 billion acquisition of Warner Bros. Discovery, casting doubt on the merger's timeline and approval.