Business
Paramount scraps deal to sell Simon & Schuster to Penguin after weeks after judge rejected merger
The Penguin logo is visible on the spines of books displayed on a shelf at Book Passage on Nov. 2, 2021 in Corte Madera, California. The U.S. Department of Justice is suing Penguin Random House and Simon & Schuster to block the companies from completing a merger valued at $2.175 billion. Justin Sullivan | Getty […]
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DraftKings says no evidence systems were breached following report of a hack
Omar Marques | LightRocket | Getty Images DraftKings said Monday there is no evidence the online betting platform’s systems were breached following a report that some users were hacked. An unknown number of users discovered unusual activity associated with their DraftKings account that led to withdrawals from their bank accounts, according to a report by […]
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This crypto cold storage stock could more than double following the FTX collapse, JPMorgan says
Shares of CompoSecure could more than double from here as the FTX debacle spells a buying opportunity in crypto cold storage providers, according to JPMorgan. Analyst Reginald L. Smith has an overweight rating on CompoSecure, saying the crypto cold storage provider allows traders to take their cryptocurrencies offline and protect them in a digital wallet. […]
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Biden grants PG&E $1.1 billion to keep Diablo Canyon nuclear plant open
Aerial view of the Diablo Canyon, the only operational nuclear plant left in California, due to be shutdown in 2024 despite safely producing nearly 15% of the state’s green electrical energy power, is viewed in these aerial photos taken on December 1, 2021, near Avila Beach, California. George Rose | Getty Images The Biden administration […]
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NASA’s Orion spacecraft flies by the moon in milestone for Artemis 1 mission
NASA’s Orion spacecraft made its closest approach to the moon on Monday morning during day five of the Artemis 1 mission. The uncrewed capsule flew about 81 miles above the lunar surface, the agency said. Artemis I launched from Florida on Wednesday, with NASA’s most powerful rocket ever – the Space Launch System (SLS) – […]
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Disney board’s decision to replace Bob Chapek with Bob Iger makes everyone look bad
Bob Iger Stephen Desaulniers | CNBC The Disney board’s decision to swap out Bob Chapek for Bob Iger as the company’s CEO may be the right one for the company’s future. But the process to get to this choice makes everyone involved look less than stellar. No sudden CEO change is easy, but the specifics […]
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Analysts cheer Iger’s return to Disney; MoffettNathanson upgrades and sees 30% upside
Wall Street analysts broadly approved of Bob Iger’s return to Disney . Iger was reappointed as chief executive officer, effective immediately, after his successor, Bob Chapek, faced criticism for his handling of the company. Disney shares rose 8% in premarket trading Monday. They’re off 40% this year. As a whole, analysts welcomed the CEO change, […]
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Disney board reached out to Iger on Friday following concerns over earnings
Disney’s board reached out to Bob Iger on Friday, without any other serious candidates in mind to replace Bob Chapek as CEO, CNBC’s David Faber reported Monday, citing sources. The board’s outreach to Iger and discussion to replace Chapek came after surging concerns crested following Disney’s most recent quarterly earnings report, according to Faber’s sources. […]
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Barclays downgrades Williams-Sonoma and RH, warns of a weak housing cycle ahead
A weak housing cycle will hurt home furnishing retailers Williams-Sonoma and RH , according to Barclays. Analyst Adrienne Yih downgraded both stocks to equal weight from overweight. She also slashed her price targets on Williams-Sonoma and RH. “We are downgrading both WSM and RH on a weakening housing cycle that we believe will have a […]
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Bob Iger is back. He’s the steady hand that Disney needs as CEO to get it back on track
Bob Chapek is out as chief executive of Disney (DIS), the company said late Sunday, a leadership shakeup that nearly two weeks ago we began to champion as necessary to get the entertainment giant back on track. We’re pleased to see Bob Iger is returning to the CEO role nearly three years after he vacated […]
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