Netflix to open studio-production hub in New Mexico

Netflix to open studio-production hub in New Mexico
Netflix Inc. NFLX, -0.65% will open a new production hub in Albuquerque, N.M., the company announced Monday. The streaming giant is in final negotiations to purchase ABQ Studios, located in Albuquerque’s Mesa Del Sol. The company said it plans to use the studio to produce films and television series, including apocalypse dramedy “Daybreak,” supernatural drama “Chambers” and epic drama “Messiah.”... Read More

Fannie Mae appoints interim CEO

Fannie Mae appoints interim CEO
Fannie Mae , one of the government-backed enterprises that guarantees most U.S. mortgages, on Monday said it appointed Hugh Frater as interim chief executive officer, replacing outgoing CEO Tim Mayopoulos. If approved by Fannie’s regulator, the Federal Housing Finance Agency, Frater will start his new role October 16. Mayopoulos announced in July plans to leave on Oct. 16. Frater is... Read More

Oil and natural-gas operators evacuate some Gulf of Mexico platforms as Hurricane Michael approaches

Oil and natural-gas operators evacuate some Gulf of Mexico platforms as Hurricane Michael approaches
By Markets/commodities reporter Oil and natural-gas operators in the Gulf of Mexico have been taking precautions as Hurricane Michael approaches, evacuating a total of 10 production platforms, or about 1.5% of the 687 manned platforms in the region, the Bureau of Safety and Environmental Enforcement said Monday. Roughly 19% of Gulf oil production and about 11% of natural-gas production have... Read More

Fox execs Peter Rice and Dana Walden will join Disney after acquisition deal is completed

Fox execs Peter Rice and Dana Walden will join Disney after acquisition deal is completed
The Walt Disney Company outlined Monday one way it DIS, +0.10% plans to integrate 21st Century Fox’s FOXA, -1.24% entertainment assets into its empire. The company announced plans for a new organizational structure for its Media Networks segment, under which several Fox executives will assume leadership roles. Peter Rice, the president of Fox and chairman and CEO of Fox Networks... Read More

Kimberly-Clark downgraded because its buy recommendation ‘has not been successful’

Kimberly-Clark downgraded because its buy recommendation ‘has not been successful’
Kimberly-Clark Corp. KMB, +0.82% was downgraded to neutral at Goldman Sachs after analysts determined that its buy stock recommendation “has not been successful.” The 12-month price target was lowered $1 to $119. “Our fundamental thesis – personal care organic sales momentum could sustain and pulp cost pressure was poised to abate – proved flawed,” the note said. Eucalyptus pulp prices... Read More

Conagra stock upgraded on growth potential from Pinnacle deal

Conagra stock upgraded on growth potential from Pinnacle deal
Conagra Brands Inc. CAG, +3.20% was upgraded to buy from neutral at UBS on the company’s long-term growth potential, which stems in large part from its $8.2 billion acquisition of Pinnacle Foods. Analysts raised Conagra’s price target to $40 from $38. Over the next three years, UBS is expecting Conagra’s accelerating performance metrics, including volume growth and reduced discounting, along... Read More

Dow tumbles more than 210 points midday, Nasdaq off 1.5% as stock market falls to session lows

Dow tumbles more than 210 points midday, Nasdaq off 1.5% as stock market falls to session lows
The Dow Jones Industrial Average turned decidedly lower midday Monday as a tepid start for equity benchmarks saw a more deliberate downshift take hold. The Dow DJIA, -0.66% was last trading 210 points, or 0.8%, lower at 26,234. The S&P 500 index SPX, -0.62% was off 0.7%, at 2,864, while the Nasdaq Composite Index COMP, -1.26% was retreating by 1.5%... Read More

Former White House aide Hope Hicks to join new FOX as chief communications officer

Former White House aide Hope Hicks to join new FOX as chief communications officer
The new FOX, the company spinoff that will be created after 21st Century Fox FOXA, -0.99% completes the $71 billion sale of its entertainment assets to The Walt Disney Company DIS, +0.21% has named former White House aide as executive vice president and chief communications officer. Hicks was the White House communications director and director of strategic communications from January... Read More