Dow jumps over 250 points as stocks erase Thursday declines
U.S. stocks rose sharply Friday, more than erasing the loss seen the previous session in the aftermath of a poor Treasury bond auction and fresh signs that interest rates may stay higher for longer. What’s happening The Dow Jones Industrial Average DJIA rose 272 points, or 0.8%, to 34,164. The S&P 500 SPX was up […]
Zaslav, Malone lay groundwork for WBD’s next move
David Zaslav, CEO and president of Warner Bros. Discovery (L), and John Malone, chairman of Liberty Media, Liberty Global, and Qurate Retail Group. CNBC | Reuters Warner Bros. Discovery‘s next step to gain scale may be looking at distressed assets. Chief Executive David Zaslav and board member John Malone both made comments this week suggesting […]
Veterans Day 2023: Are banks closed on Friday? Are schools open?
An earlier version said the U.S. bond market will be closed Friday. It will be open. There are plenty of closures to be aware of this Veterans Day. But when is the holiday being observed, exactly? It’s a question spurring plenty of Google searches this week. Nov. 11 marks Veterans Day, a federal holiday in […]
‘The Marvels’ headed for bad box office open
Brie Larson stars as Carol Danvers aka Captain Marvel in Disney and Marvel’s “The Marvels.” Disney It was always going to be tough to top “Avengers: Endgame,” but what has spilled out from Disney and Marvel Studios in the wake of that epic has left fans discouraged about the franchise. There was hope that “The […]
Meta reportedly will team with Tencent to sell new VR headset in China
Meta Platforms Inc. has a preliminary deal to sell a new, lower-cost version of its virtual-reality headset in China, the Wall Street Journal reported Thursday night, giving the tech giant access to Chinese consumers for the first time in more than a decade. The Journal reported Tencent Holdings Ltd. will make Meta’s new headset and […]
Gen Alpha kids to fuel holiday skincare spending
When Melissa Fuentes imagined the Christmas gifts she’d buy for her 9-year-old Tatiana, she figured she’d want Barbies, Bratz dolls or a scooter – the kinds of things she found under her tree growing up in the ’90s. Instead, something unexpected made it to the top of the list this year: skin care. “I would […]
Groupon’s stock craters as CEO says business ‘continues to be challenged’
Groupon Inc. shares tumbled more than 35% in Thursday’s extended session after the discounting marketplace announced a new rights offering and acknowledged “challenged” business conditions. The company said in a Thursday afternoon release that its board approved an $80 million fully backstopped rights offering to all holders of its common stock. The rights offering will […]
Iridium, Qualcomm end satellite-to-phone partnership
A Qualcomm sign is pictured at the Mobile World Congress in Shanghai. Aly Song | Reuters U.S. semiconductor giant Qualcomm ended its partnership with satellite communications company Iridium to provide satellite-to-phone services, Iridium announced on Thursday. Iridium stock fell more than 8% in after-hours trading from its close at $37.14 a share The company said […]
Fanatics offers business immersion program for professional athletes
WNBA and MLB players take part in Fanatics’ weeklong business immersion program. Source: Fanatics Fanatics is helping professional athletes transition to life after the final buzzer — or pitch, or whistle. The company is expanding a pilot program to offer business education and exposure to players with the WNBA and MLB via a partnership with […]
Powell says Fed is wary of ‘head fakes’ from inflation
Federal Reserve officials are “gratified” with the progress made so far on bringing down inflation, but are not yet confident that interest rates are high enough to bring inflation down to 2% target over time, Fed Chairman Jerome Powell said Thursday. “We know that ongoing progress toward our 2% goal is not assured: Inflation has […]
