The Walt Disney Company said Tuesday that issues at ESPN impacted operating income for its cable business. The segment saw operating income decline 23 percent year over year amid trouble at ESPN, Disney said in a statement. The sports network was plagued by higher programming costs and lower advertising revenue, as well as severance and […]
Read moreComments now are pouring in over the termination on Monday of Google software engineer James Damore, who sent a memo to co-workers on Friday challenging some of the tech giant’s diversity efforts, such as mentoring programs open only to people of a certain race or gender. Gizmodo posted the memo on the internet on Saturday […]
Read moreBitcoin’s jump to record highs this week put the digital currency close to being triple the price of gold. “Our initial bitcoin report viewed bitcoin as a ‘store of value’ and over time would be seen as an alternative to gold,” Thomas Lee, co-founder of Fundstrat, said in an email. In July, he became the […]
Read moreThere’s something in the charts that has renewed Todd Gordon’s faith in Apple. Just over a week ago, the founder of TradingAnalysis.com believed that Apple’s rally had temporarily stalled. But the stock’s performance after the tech giant reported earnings Aug. 1, when the shares hit a new all-time high, has the trader back on the […]
Read moreOnline sports merchandise retailer Fanatics is the latest company to get a cash infusion from SoftBank, a source close to the matter told CNBC. SoftBank and Fanatics are close to sealing a $1 billion deal, raising Fanatics’ valuation to $4.5 billion. The Wall Street Journal previously reported the news. The NFL also invested about $95 […]
Read moreInvestors seem to be showing interest in Tesla’s upcoming debt offering, reported Bloomberg. The electric car maker’s record level of cash burn so far does not seem to be scaring off bond buyers — after a meeting with them on Monday, CEO Elon Musk had orders for just over a third of the $1.5 billion […]
Read moreNetflix is down big after hours following Disney’s announcement that it will pull its library of content from Netflix. Disney said it will launch its own streaming service in 2019 and will also launch a separate dedicated streaming service for ESPN content as early as next year. Disney CEO Bob Iger said that the new […]
Read moreDisney wants to own a bigger piece of the streaming pie. The company announced during its latest earnings report on Tuesday it intends to pull all its movies from Netflix. Instead, Disney plans to launch a branded direct-to-consumer streaming service in 2019 starting in the U.S. and expanding globally. CEO Bob Iger told CNBC’s Julia […]
Read moreFoursquare just launched a major update to Swarm, its app that lets you check into locations. If you remember Foursquare from the early days but haven’t used it in ages, you should know that in 2014 the company split its business into two apps, and the “new” Foursquare app is for checking business listings, similar […]
Read moreIf you want to get the upcoming iPhone 8, you’ll probably need to buy it the second it goes on sale. According to KGI Securities analyst Ming-Chi Kuo, who has been following the iPhone 8 in the supply chain all year, the phone will be unveiled and will launch at the same time as Apple‘s […]
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