Disney’s planned deal to acquire many parts of Twenty-First Century Fox actually solves the media giant’s problems with sports network ESPN, CNBC’s Jim Cramer said Thursday. Disney has suffered from some subscriber losses at ESPN as consumers switch to skinnier cable bundles. The company intends to launch a separate streaming service for ESPN in 2018. […]
Read moreFacebook is making major changes to its advertising strategy, including putting ads before videos and requiring videos to be longer before they can have ad breaks. The company announced in a blog post on Thursday that it would be adding six-second pre-roll ads before videos starting next year. The ads would likely be before Watch […]
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Shares of Twitter gained 7.3 percent on Thursday, reaching their highest level in more than a year. The social media’s stock hit $23.24, its highest level since Oct. 5, 2016, when it traded as high as $25.25 a share. It traded at $22.71 at 11:16 a.m. ET. Jonathan Krinsky, chief market technician at MKM Partners, […]
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Overstock.com CEO Patrick Byrne said he expects to have a deal in the next three months on selling or reorganizing the company’s retail business to focus on blockchain, the technology behind bitcoin. “My goal is [within] 60 to 90 days we walk away from this,” Byrne told CNBC Wednesday in reference to the plan. He […]
Read moreShares of Tiffany & Co. jumped 4 percent Thursday after Citigroup upgraded the luxury retailer to buy, saying the jeweler is “starting to show some shine.” “The third quarter brought several positive inflection points, new management is showing us that they understand the challenges and opportunities, and they are not sitting still,” Citi analyst Paul […]
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Bitcoin is now sizing up to be what could be the biggest market bubble of all time. According to Birinyi Associates, bitcoin now looks to be bigger than any of the 10 other market bubbles it studied including the the tech bubble, beanie babies, the Dow in 1929 and the silver bubble of the late […]
Read moreThe value of music streaming service Spotify, which is planning a stock market listing, has grown around 20 percent to at least $19 billion in the past few months, outperforming U.S. and European tech indexes, sources familiar with the matter said. The most recent private trades in the Swedish company have taken place at above […]
Read moreCurrency, United States Finance
UK's May 'disappointed' with defeat in parliament but says she's on course to deliver Brexit
Theresa May said on Thursday she was on course to deliver Brexit and a new partnership with the European Union, shrugging off a parliamentary defeat that could weaken her hand as the decisive phase of talks begins. The British prime minister spoke on arrival at an EU summit in Brussels where, over dinner, she will […]
Read moreThe Republican plan for a major tax overhaul may not be fully priced into the market, closely followed trader Art Cashin told CNBC on Thursday. Stocks opened higher Thursday, a day after news broke that House and Senate negotiators have reached a deal on a tax plan. The two chambers hope to send legislation to […]
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DEAR Team, I trust you are looking forward to your vacations and that the spirit of love and generosity infuses your family gatherings. I also hope that this spirit will be left next to the Christmas tree when you return to work at this incredible company on January 2nd. Because 2018 is going to be […]
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