Month: August 2024
DraftKings reverses plans for a tax on customers as FanDuel parent Flutter wows Wall Street
Flutter reported phenomenal second-quarter earnings this week, wowing investors and sending shares up about 8% Wednesday as the company’s FanDuel betting platform captures market share and grows revenue dramatically, even in well established states with sports betting and online gaming. But it was the declaration that FanDuel will not add a surcharge to offset an […]
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Philippe Laffont’s Coatue entered into Paramount last quarter amid weakness
Philippe Laffont’s Coatue built a position at Paramount Global amid tumultuous times for the storied media company. The technology-focused investor opened a stake of more than 3 million shares in the legacy entertainment giant during the second quarter, according to regulatory fillings. That amounts to a holding worth more than $38 million. Laffont is one of […]
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Mars to acquire snack maker Kellanova in $36 billion deal
A box of Kellogg Co. Eggo brand frozen waffles is arranged for a photograph in New York. Tiffany Hagler | Bloomberg | Getty Images Mars will acquire Kellanova for $35.9 billion in cash, tying together some of the largest U.S. candy and snack brands, the companies announced Wednesday. The M&M owner Mars is acquiring the […]
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Healthy Returns: Eli Lilly gains momentum against Novo Nordisk in the weight loss drug market
An Eli Lilly & Co. Zepbound injection pen, March 28, 2024. Bloomberg | Bloomberg | Getty Images Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Good afternoon! Novo Nordisk and Eli Lilly have so far dominated the booming market for a class of weight loss and diabetes drugs. […]
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Biden hosts first ‘Creator Economy Conference’ for influencers to talk AI, privacy and more
U.S. President Joe Biden departs the White House on August 13, 2024 in Washington, DC. Biden is traveling to New Orleans to participate in a Biden Cancer Moonshot Event. Kevin Dietsch | Getty Images News | Getty Images The White House hosted 100 digital content creators and industry professionals Wednesday to speak with key officials […]
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Stocks making the biggest moves midday: Brinker International, Victoria’s Secret, Flutter Entertainment and more
Check out the companies making headlines in midday trading. Brinker International – The stock plummeted around 12% after the Chili’s parent issued a weaker-than-expected profit forecast for the full year and reported disappointing fiscal fourth-quarter earnings . The company posted adjusted earnings of $1.61 per share, below the StreetAccount consensus estimate of $1.72 per share. […]
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Wizz Air launches $550 ‘all you can fly’ annual subscription pass
Wizz Air Malta Airbus A321 neo aircraft spotted at Eindhoven Airport during taxiing, taking off and flying phase in the blue sky. Nurphoto | Nurphoto | Getty Images LONDON — Travelers in Europe can now take unlimited flights for 499 euros ($550) a year under a new travel subscription service from budget carrier Wizz Air. […]
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World’s largest sovereign wealth fund posts $138 billion in first-half profit as AI demand boosts tech
The Norges Bank, Norway’s central bank, in Oslo, Norway, on Tuesday, Oct. 17, 2023. Bloomberg | Bloomberg | Getty Images Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust returns on its investments in technology stocks. The so-called Government Pension Fund Global — the […]
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‘Pulling a Joe Biden’: Reactions to Japanese Prime Minister Fumio Kishida’s resignation
Japan’s Prime Minister Fumio Kishida speaks to reporters following North Korea’s missile launch on April 13, 2023. JIJI Press | AFP | Getty Images Japanese Prime Minister Fumio Kishida is stepping down in September, a move that sparked a broad range of reactions from government officials and analysts. By choosing to not run for reelection […]
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Britain considers tougher internet safety laws after riots, Musk comments — what you need to know
As the riots raged in the U.K., Elon Musk began making incendiary comments about the situation, including the statement: “Civil war is inevitable.” Musk is the owner of X, the social media platform formerly known as X. Aytug Can Sencar | Anadolu | Getty Images LONDON — Prime Minister Keir Starmer’s Labour government is considering ways […]
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