Alibaba to spend more on travel, entertainment after $13.4 billion listing

Alibaba to spend more on travel, entertainment after $13.4 billion listing
HONG KONG (Reuters) – Chinese e-commerce giant Alibaba Group plans to ramp up investment in its online entertainment, content and travel platforms with the proceeds from a planned $13.4 billion Hong Kong listing. A draft prospectus lodged with the Hong Kong Stock Exchange late on Wednesday showed that the company was increasing its investment in online delivery and local services... Read More

CBS misses revenue estimates as AT&T dispute hurts ad sales

CBS misses revenue estimates as AT&T dispute hurts ad sales
FILE PHOTO: The CBS Television Center is seen in Los Angeles, California, U.S., August 7, 2019. REUTERS/Lucy Nicholson (Reuters) – CBS Corp (CBS.N) fell short of Wall Street estimates for third-quarter revenue on Tuesday, as a 19-day carriage dispute with AT&T Inc (T.N) pressured advertising sales during the period. Shares of CBS and sister company Viacom Inc (VIAB.O) were down... Read More

Stock futures flat ahead of Trump speech

Stock futures flat ahead of Trump speech
(Reuters) – U.S. stock index futures were largely flat on Tuesday, as investors turned their focus to a speech by President Donald Trump for clarity on U.S.-China trade relations. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., November 6, 2019. REUTERS/Brendan McDermid Hopes of a resolution to the 16-month long... Read More

Exclusive: Hedge fund Whitebox places big bet on gunmaker Remington

Exclusive: Hedge fund Whitebox places big bet on gunmaker Remington
(Reuters) – Whitebox Advisors LLC, a credit-focused hedge fund, has been quietly capitalizing on Wall Street’s ambivalence toward gun manufacturers by replacing some banks as a lender to Remington Outdoor Company. A man aims a Remington firearm at the annual National Rifle Association (NRA) meeting in Dallas, Texas, U.S., May 4, 2018. REUTERS/Adrees Latif – RC19E76FC3D0 Whitebox, whose assets under... Read More

Exclusive: Hedge fund Whitebox places big bet on gunmaker Remington – sources

Exclusive: Hedge fund Whitebox places big bet on gunmaker Remington – sources
(Reuters) – Whitebox Advisors LLC, a credit-focused hedge fund, has been quietly capitalizing on Wall Street’s ambivalence toward gun manufacturers by replacing some banks as a lender to Remington Outdoor Company. A man aims a Remington firearm at the annual National Rifle Association (NRA) meeting in Dallas, Texas, U.S., May 4, 2018. REUTERS/Adrees Latif – RC19E76FC3D0 Whitebox, whose assets under... Read More

‘Lion King’ lifts Disney earnings as streaming costs stay under budget

‘Lion King’ lifts Disney earnings as streaming costs stay under budget
(Reuters) – Walt Disney Co’s (DIS.N) popular theme parks and a remake of “The Lion King” pushed earnings past Wall Street targets on Thursday, and the company spent less than it had projected on its big plunge into streaming entertainment. Shares of Disney rose more than 5% to $140.77 in after-hours trading. Disney is trying to transition from a cable... Read More

Disney parks, films outperform as streaming costs stay under budget

Disney parks, films outperform as streaming costs stay under budget
(Reuters) – Walt Disney Co’s (DIS.N) theme parks and a remake of “The Lion King” boosted quarterly earnings past Wall Street targets on Thursday as costs came in lower than expected for its big plunge into streaming entertainment. FILE PHOTO: The entrance to Walt Disney studios is seen in Burbank, California, U.S. August 6, 2018. REUTERS/Lucy Nicholson/File Photo Shares of... Read More

Disney gets boost from parks, films ahead of streaming launch

Disney gets boost from parks, films ahead of streaming launch
(Reuters) – Walt Disney Co (DIS.N) beat Wall Street estimates for quarterly profit on Thursday, as strong performance in its flagship theme parks and the box office success of its films like “The Lion King” and “Toy Story 4” offset huge investments to launch its streaming service Disney+. FILE PHOTO: The entrance to Walt Disney studios is seen in Burbank,... Read More

Ferrari looks to capitalize on brand name as it promises faster growth

Ferrari looks to capitalize on brand name as it promises faster growth
MILAN (Reuters) – Strong sales of Ferrari’s (RACE.MI) Portofino and 812 Superfast models enabled the Italian luxury carmaker to raise its outlook on Monday, with a new brand strategy promising even more growth. FILE PHOTO: The new Ferrari Portofino is displayed during the Frankfurt Motor Show (IAA) in Frankfurt, Germany September 12, 2017. REUTERS/Ralph Orlowski/File Photo Ferrari’s Milan-listed shares rose... Read More