Month: November 2024
Stocks making the biggest moves midday: Tapestry, Capri, Disney and more
Check out the companies making headlines in midday trading: Disney — The media stock popped 7% on stronger-than-expected earnings and guidance, aided by growth in its streaming business. The company said it expects high-single-digit adjusted earnings growth in fiscal 2025. Capri , Tapestry — Both luxury apparel stocks rose after the companies called off their […]
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Disney doesn’t plan to change its TV networks portfolio anytime soon
Scene from the FX series Shogun. Source: Disney | FX Disney has done the math on separating its TV networks business, and it appears too messy to be done — at least for now. The company’s Chief Financial Officer, Hugh Johnston, said Thursday on CNBC’s “Squawk Box” that the “cost is probably more than the […]
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Embattled fashion house Burberry reveals massive overhaul sending shares to an all-time high
Shoppers walk past Burberry’s Shanghai store Kevin Lee | Getty Images LONDON — Burberry is aiming to win back shoppers and boost waning sales by refocusing on heritage designs and statement pieces under sweeping revamp plans designed to revive the luxury fashion house’s ailing fortunes. The “Burberry Forward” strategic overhaul, announced Thursday, intends to reconnect […]
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Amazon launches fixed pricing to treat conditions like hair loss. Hims & Hers stock drops 15%
A worker delivers Amazon packages in San Francisco on Oct. 24, 2024. David Paul Morris | Bloomberg | Getty Images Amazon on Thursday announced Prime members can access new fixed pricing to treat conditions like erectile dysfunction and men’s hair loss, its latest effort to compete with other direct-to-consumer marketplaces like Hims & Hers Health […]
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Gary Gensler says he was ‘proud to serve’ as SEC chair, defends his approach to crypto regulation
U.S. Securities and Exchange Commission Chair Gary Gensler testifies before a House Financial Services Committee oversight hearing on Capitol Hill in Washington, D.C., on Sept. 27, 2023. Jonathan Ernst | Reuters Securities and Exchange Commission Chairman Gary Gensler spoke this morning at the Practising Law Institute’s 56th annual conference on securities regulation. It sounded awfully […]
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The Onion wins Alex Jones’ Infowars in bankruptcy auction
The Onion, the satirical news company that repeatedly spoofed conspiracy theorist Alex Jones, has won the bankruptcy auction for control over his media empire — most notably InfoWars, the far-right, conspiracy-minded website that served as Jones’ primary online platform. Jones announced the sale on X Thursday morning. “I just got word 15 minutes ago that my lawyers and folks […]
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Wholesale prices rose 0.2% in October, in line with expectations
Customers shop at a Costco Wholesale store in Miami on Dec. 15, 2023. Joe Raedle | Getty Images News | Getty Images Wholesale prices nudged higher in October, though largely in line with expectations and mostly consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported Thursday. The […]
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EU fines Meta €797 million over abusive practices benefiting Facebook Marketplace
Meta, the parent company of social networking site Facebook, has faced calls to do more about financial scams on its platforms. Artur Widak | Nurphoto via Getty Images The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report […]
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Stocks making the biggest moves premarket: Disney, Cisco, ASML, Tapestry and more
Check out the companies making headlines before the bell. Disney – Shares popped more than 9% after the company’s fiscal fourth-quarter results beat analysts’ estimates . For the period, Disney earned $1.14 per share, after adjustments, on revenue of $22.57 billion. That’s above earnings of $1.10 per share on revenue of $22.45 billion that analysts […]
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WikiLeaks whistleblower Chelsea Manning says censorship is still ‘a dominant threat’
Former U.S. Army intelligence analyst Chelsea Manning says censorship is still “a dominant threat,” advocating for a more decentralized internet to help better protect individuals online. Her comments come amid ongoing tension linked to online safety rules, with some tech executives recently seeking to push back over content moderation concerns. Speaking to CNBC’s Karen Tso […]
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