Media news & headlines
Latest breaking stories, features and analysis
- Facebook agreed to acquire CRM company Kustomer.
- The latest acquisition will help Facebook's chat properties.
- The company could be on the receiving end of antitrust lawsuits in the coming days, according to media reports
Latest Media news
In an announcement on Monday, Daily Mail & General Trust plc (LON: DMGT) said that its pre-tax profit in fiscal 2020 was 50% lower than last year due to the ongoing Coronavirus pandemic that has so far infected more than 1.5 million people in the United Kingdom and caused over 55 thousand deaths. Daily Mail & General Trust plc lost close to 1% on market open on Monday. Including the price action, it is now a little under 20% down year to...
The Walt Disney Company (NYSE: DIS) reported a sharp increase in subscribers for its streaming service in the fiscal fourth quarter. Disney also said that its revenue was better than expected in Q4. But officials said on Thursday that Disneyland was likely to remain closed for the public until 2021. Shares of the company jumped more than 3% in extended trading on Thursday. On a year to date basis, Disney is now about 9% down in the stock m...
DISH Network Corp. (NASDAQ: DISH) said on Friday that its profit and revenue in the fiscal third quarter came in significantly better than expected. In an announcement earlier this week, the U.S. company said it had partnered with Intel for 5G buildout. DISH opened about 7% up in the stock market on Friday but lost more than half of its intraday gain in the next hour. Shares of the company are now exchanging hands at £21.20 per share versus £27.1...
Comcast Corp. (NASDAQ: CMCSA) said on Thursday that its revenue from all three business segments came in higher than expected in the fiscal third quarter. The American telecommunications conglomerate had also topped Wall Street estimates in the prior quarter (Q2). Cable communications and high-speed internet, Comcast said, added 556 thousand and 633 thousand new customers in the third quarter, respectively. Total video subscribers, on the other h...
The film and movie industry is poised to end 2020 on a disappointing note after multiple highly anticipated releases were postponed. On Thursday, expectations for an industry-wide rebound in 2021 were called into doubt after AT&T Inc. (NYSE: T) CEO John Stankey said he is “not optimistic.” ‘Tenet’ not the success it should have been AT&T is the parent company of movie studio WarnerMedia as part of the 2016 acquisition that closed in 2018....
Netflix Inc. (NASDAQ: NFLX) said on Tuesday that new subscribers in the fiscal third quarter were significantly less than expected as it reported earnings that missed expectations. Analyst Heath Terry of Goldman Sachs had raised his price target on Netflix stock last week. Shares of the company slid close to 6% in extended trading on Tuesday. At £380 per share, Netflix is now more than 50% down year to date in the stock market. In comparison, it...
The Walt Disney Company (NYSE: DIS) expressed plans of cutting its workforce by 28 thousand jobs on Tuesday. The layoff, it added, will primarily affect theme parks in the United States where COVID-19 continues to weigh on visitor numbers. Disneyland California is still closed for the public. The Walt Disney Company published its earnings report in August that highlighted £3.61 billion of net GAAP loss in the fiscal third quarter. Its revenue in...
In an announcement on Monday, Reach plc (LON: RCH) said that digital advertising showed evident signs of recovery in the fiscal third quarter. Consequently, it said that its revenue in Q3 posted an annualised decline of only 15% as compared to a much broader 27.5% decline in revenue in the prior quarter (Q2). Shares of the company were reported just under 20% up in premarket trading on Monday. At 76 pence a share, Reach plc is now 45% down year t...
Shares of Comcast Corporation (NASDAQ: CMCSA) gained more than 3% on Tuesday after notable activist investor Trian Fund Management bought a relatively small stake in the media giant, The Wall Street Journal reported Monday evening. Undervalued thesis Trian bought $900 million worth of Comcast’s stock recently, giving it a stake of around 0.4% in the parent company of NBC, Telemundo, CNBC, USA Network, Universal Pictures, among many other media as...
Sources confirmed on Monday that ByteDance had picked Oracle Corporation (NYSE: ORCL) over Microsoft as a partner to save the U.S. arm of its Chinese video-sharing social networking service, TikTok, amidst the rising tensions between the two largest economies of the world. Oracle’s stock remained flat in premarket trading on Monday. Shares of the company are currently exchanging hands at £44.20 per share. In comparison, Oracle had tumbled to £31...
Peloton Interactive Inc (NASDAQ: PTON) publish its financial results on Thursday after the bell that highlighted an unprecedented 172% increase in sales in the fiscal fourth quarter. The company said that its high-tech treadmill and stationary bike were greatly in demand in recent months as COVID-19 restricted people to their homes. Peloton also expressed confidence that its sales will remain robust in the upcoming months as it gave its future fi...
ITV plc (LON: ITV) has so far seen a roughly 60% decline in its stock this year. Owing to the sharp decline, the media company is now set to delist from the UK’s blue-chip FTSE 100 index. ITV remained under pressure in the stock market this year due to the ongoing Coronavirus pandemic that weighed on the demand for advertising. Shares of the company closed 1.5% down on Friday. ITV is currently exchanging hands at 61 pence per share as compared to...
The National Football League hasn’t started yet but media giant ViacomCBS Inc (NASDAQ: VIAC) is counting on a potential major payday for SuperBowl commercials, The Wall Street Journal reported. Wait… what? The SuperBowl is known to pack tens of thousands of football fans into a stadium while another 100 million or so tune in on live on TV. Yet despite what could be a match in a completely empty stadium, and no guarantee of a similar TV audience,...
Dish Network Corp. (NASDAQ: DISH) published its quarterly financial results on Friday that topped analysts’ estimates for earnings and revenue in the second quarter. The Englewood-based company had resorted to laying off workers in recent months to cushion the economic blow from the Coronavirus pandemic. Shares of the company opened 2% up on Friday. The stock continued its gain in the next hours as it jumped another 5%. At £27.20 per share, Dish...
ITV plc (LON: ITV) said on Thursday that its revenue from advertising came in 21% lower in the first half (H1) of the current fiscal year. The company attributed its dovish performance to the Coronavirus pandemic that weighed on demand for production and advertisements. Consequently, its pre-tax profit slumped by an unparalleled 93%. Shares of the company tanked less than 1% in premarket trading on Thursday. The stock, however, declined by anothe...
Roku Inc. (NASDAQ: ROKU) published its quarterly financial results on Wednesday that came in stronger than what the experts had forecast. The company announced its users to have streamed content worth 14.6 billion hours in total in the fiscal second quarter. Roku had previously reported more than usual ad cancellations in Q1. Shares of the company initially jumped 6% in extended trading on Wednesday but then dropped about 7% later on. At £124.50...
The Walt Disney Company (NYSE: DIS) published its quarterly financial results on Tuesday that sent its shares up 5% in extended trading. According to CEO Bob Chapek, Disney will release Mulan online via Disney Plus. At £94 per share, including the gain in after-hours trading on Tuesday, Disney is currently more than 15% down year to date in the stock market after recovering from an even lower £65.62 per share when the impact of COVID-19 was at it...