Leisure & entertainment news
- Sony Pictures sold its Tom Hanks summer Blockbuster flick 'Greyound' to Apple for $70 million.
- The film will skip a theatrical debut and go straight to Apple+
- Sony has no expectations for this to be a model for future film releases.
Latest Leisure & entertainment news
Peloton Inc. (NASDAQ: PTON) released its quarterly earnings report on Wednesday that posted a massive 66% year over year increase in its revenue in the fiscal third quarter. The company said that its live classes and fitness equipment were greatly in demand as the Coronavirus pandemic restricted people to their homes. The upbeat Q3 results also encouraged the company to upgrade its full-year sales guidance. As per CEO John Foley, the health crisi...
Pinterest Inc. (NYSE: PINS) released its first-quarter earnings report on Tuesday that pushed the stock around 19% down in extended trading on lower than expected growth in the company’s user base in the first quarter. Pinterest’s Q1 financial results versus analysts’ estimates According to Refinitiv, experts had forecast the company to print £218.39 million in revenue in Q1. Their estimate for loss per share was capped at 7 pence. In its report...
Disney (NYSE: DIS) released its quarterly financial results on Tuesday that topped analysts’ estimate for revenue but fell short on the earnings front. Following the release of the financial report, Disney was reported over 2% down in extended trading on Tuesday. The company said that the Coronavirus pandemic weighed on its cruise and theme parks businesses. However, demand for its newly launched Disney+ was reported higher as the outbreak restri...
Hasbro Inc. (NASDAQ: HAS) released its quarterly financial results on Wednesday that missed analysts’ estimates for earnings and revenue. The company, however, expressed confidence in its firm financial position and highlighted that it plans on slashing costs to cope up with the seasonal demand that is commonly attributed to the 2nd half of the year. The American multinational conglomerate also warned of a pronounced hit to its financial performa...
Adidas (ETR: ADS) said on Monday that its profit in the first quarter came out 93% lower. The German sportswear manufacturer also reported a 19% decline in its quarterly sales as the Coronavirus pandemic pushed retailers into temporarily shutting down stores in Q1. In the second quarter, the company added, the COVID-19 driven hit to its revenue will be even more prominent. At £56.72 million, Adidas reported a significantly lower profit in t...
Snap Inc. (NYSE: SNAP) announced its first-quarter financial results on Tuesday that topped analysts’ estimates for revenue. The upbeat earnings report sent its stock roughly 20% up in extended trading. Snap recorded its global DAUs (daily active users) at 229 million in the first quarter that marked a massive 20% (39 million users) increase as compared to the same quarter last year. The company also said that in terms of user growth (year...
Netflix Inc. (NASDAQ: NFLX) released its quarterly financial results on Tuesday that posted a massive increase in subscribers. The initial response in the stock market was a 10% jump but the stock settled around a 1% gain in extended trading on Tuesday as the company provided conservative financial guidance. Netflix also highlighted that the ongoing Coronavirus uncertainty makes it difficult to accurately estimate the increase in its subscribers...
As Coronavirus restricts people to their homes, demand for online streaming platforms has been surging in the past few weeks. Available in 190 countries, Netflix (NASDAQ:NFLX) recorded a 7% increase in the stock market on Monday to hit a 52-week high of £318.96 per share. The stock closed the regular session slightly lower at £315.95 per share. In extended trading on Monday, it climbed back up to £318.24 per share. Serving as a...
Roku Inc. (NASDAQ:ROKU) announced the preliminary revenue for the first quarter on Monday that came out stronger than what the experts had forecast. The company cited a significant increase in demand for its content platform and video streaming devices as people look for means to entertain themselves during the Coronavirus pandemic that has restricted them to their homes. The upbeat estimate for revenue in the first quarter was well-received in t...
The economic blow from the Coronavirus pandemic to the global businesses is unprecedented in history. Numberless companies have already resorted to cost-cutting strategies to survive the financially challenging time with many of them currently in the process of evaluating similar options. In recent news, Dish Network Corp. (NASDAQ:DISH) announced on Monday that it has reduced its staff to maintain its financial stature amidst COVID-19. The U.S-ba...
The Coronavirus restrictions have temporarily closed Disney’s (NYSE:DIS) theme parks for the public to minimize the fast spread of the flu-like virus. Owing to these restrictions, as per the Service Trades Council Union’s announcement on Sunday, 43,000 union workers at Walt Disney World Resort are to be furloughed on April 19th. In its statement on Sunday, Disney said that it will continue to make 100% payments for its workers’...
In its announcement on Wednesday, Walt Disney Co. (NYSE:DIS) revealed that its paid subscribers for the recently launched streaming service, Disney+, have already surpassed 50 million worldwide. The company further added that 8 million paid subscriptions came from India where Disney+ was launched only last week. Disney’s new streaming service aims to compete with Netflix Inc. that is already operating in more than 190 countries. According t...
ROXi Music, the maker of the home-based music streaming device ROXi, is preparing for an initial public offering (IPO) in the fourth quarter of the year, Reuters has reported. The potential ROXi IPO will come after ticket service Trainline (LON:TRN) recently debuted on the London Stock Exchange. ROXi prepares for IPO Reuters reported last night that ROXi Music had chosen investment bank Arden Partners as it prepares for a float on London Sto...
Merlin’s share price (LON:MERL) is rallying in London this Friday as the group agreed a deal to be acquired by a newly-formed company made up of Kirkbi, the investment vehicle of Lego’s founding family, private equity firm Blackstone Group and Canadian pension fund CPPIB. The update comes after an activist investor recently urged the Legoland owner to go private. As of 08:53 BST, Merlin’s share price had added 13...
Shares in Merlin Entertainments (LON:MERL) have surged in London in today’s session as an activist investor urged the company to go private. The Legoland owner, however, noted that it would be best for shareholders if it pursued its current strategy. As of 12:59 BST, Merlin’s share price had added 6.53 percent to 353.70p, outperforming the FTSE 250 index which currently stands 1.24 percent in the red at 19,067.49 points. The group’s shares have g...
New York-based fund builds position in Premier Inn and Costa Coffee owner
The concept of Black Friday and Cyber Monday is becoming less popular as the customers are generally overwhelmed by different seasonal deals, clearance sales & promotions done by their favorite brands throughout the year