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☆ PGA Tour commissioner says he's talking to possible investors ahead of Saudi deal deadline
▼ + stars: | 2023-11-29 | by ( Drew Richardson | ) www.cnbc.com time to read: +4 min

PGA Tour Commissioner Jay Monahan speaks during a press conference prior to the TOUR Championship at East Lake Golf Club on August 24, 2022 in Atlanta, Georgia. PGA Tour Commissioner Jay Monahan said Wednesday that the organization is talking to several potential investors as a deadline to clinch a deal with Saudi Arabia's Public Investment Fund rapidly approaches. LIV and the PGA Tour were engaged in an antitrust legal battle dating back to last year. The deal had the PGA Tour retaining control in the face of an existential threat, he added. The PIF and "likely another co-investor with significant experience in business and sports will help the PGA Tour take share from other sports and be even more competitive."

Persons: Jay Monahan, " Monahan, Yasir bin Othman Al, Saudi Crown Prince Mohammed bin Salman, Monahan, LIV Golf, LIV, Phil Mickelson, Tiger Woods, Rory McIlroy, Saud Arabia's Organizations: East Lake Golf Club, PGA, Saudi Arabia's Public Investment Fund, The New York Times, Saudi Crown, PGA Tour, Public Investment Fund, Boston Red Sox, Fenway Sports Group, Endeavor Group Holdings, Endeavor Locations: Atlanta , Georgia, Saudi

☆ Alibaba Health Information Technology to buy AJK Technology for $1.73 bln
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

Nov 28 (Reuters) - Investment holding company Alibaba Health Information Technology Ltd (0241.HK) said on Tuesday it would buy entire stake in AJK Technology Holding Ltd from a unit of Alibaba Group Holding (9988.HK) for HK$13.51 billion ($1.73 billion). Alibaba Health would issue 2.56 billion consideration shares at an issue price of HK$4.50 and pay the U.S. dollar equivalent of HK$2 billion in cash to the Alibaba Group unit, Taobao Holding Ltd.AJK Technology is an offshore holding vehicle incorporated under the laws of the Cayman Islands. The completion of the deal is subject to approvals from independent shareholders and the stock exchange. ($1 = 7.7957 Hong Kong dollars)Reporting by John Biju in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: John Biju, Shilpi Majumdar Organizations: Investment, Health, Technology, HK, AJK Technology Holding, Alibaba, Taobao Holding, AJK Technology, Thomson Locations: Cayman Islands, Hong Kong, Bengaluru

Oil prices fell about $1 a barrel after OPEC postponed until next week a meeting to discuss production cuts. The oil cartel has been maintaining a tight market for crude oil with production cuts. It is expected to extend those cuts after oil prices have fallen after a spike in the summer to almost $100 a barrel. Markets in Greater China have been swaying in reaction to moves by Chinese regulators to prop up the ailing property market. A 0.9% drop in oil prices weighed on energy companies.

Persons: Seng, Nordstrom, Swissquote, they’ll, Brent Organizations: Garden, Dow, Nasdaq, . Technology, Microsoft, Google, Broadcom, VMWare, Energy, Exxon Mobil, Halliburton, Nvidia, Department, University of Michigan, Federal, ” Fed, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Japan, U.S, Shanghai, Greater China, South Korea, Taiwan, Mumbai, China, Turkey

"Investors had hoped to receive separate shares of the cloud business in hopes the segment could achieve a higher multiple in the public markets due to its growth potential." The company then appointed Eddie Wu, one of Alibaba Group's co-founders and long-time lieutenant of former chief Jack Ma, as both CEO of Alibaba and the cloud business. Instead the group would focus on growing the cloud business and providing investment for its AI drivers, he said. [1/2]3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. Alibaba International Digital Commerce, a business that includes platforms such as Lazada and AliExpress, however reported a 53% rise in revenues, with retail revenue up 73% year-on-year.

Persons: Cainiao, Thomas Hayes, Alibaba's, Daniel Zhang, Eddie Wu, Alibaba Group's, Jack Ma, Zhang, Joseph Tsai, Tsai, Wu, Dado Ruvic, Alibaba, Akash Sriram, Brenda Goh, Sam Holmes, Arun Koyyur, Jane Merriman Organizations: Alibaba, HK, Tencent Holdings, Alibaba's, Investors, Analysts, Cloud Intelligence Group, REUTERS, Alibaba Group Holdings, PDD Holdings, Digital Commerce, Casey Hall, Thomson Locations: U.S, China, Hong Kong, Alibaba's U.S, Bengaluru, Shanghai

☆ Jack Ma positive on Alibaba, will continue to hold shares - South China Morning Post
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Founder and Chairman of Chinese internet giant Alibaba Jack Ma gives a speech at Paris' high profile startups and high tech leaders gathering, Viva Tech, in Paris, France May 16, 2019. REUTERS/Charles Platiau Acquire Licensing RightsNov 17 (Reuters) - Alibaba co-founder Jack Ma is "very positive" about the company and will continue to hold its shares, the South China Morning Post reported on Friday, citing a communiqué from his office. The comments from Ma's office come a day after a regulatory filing showed that his family trust was set to sell 10 million American Depository Shares of Alibaba Group Holdings (9988.HK), for about $871 million. The sale will be on Nov. 21 by JSP Investment and JC Properties, funds that are part of Ma's family trust. Ma stepped down as Alibaba chairman in 2019 but remains a major shareholder through his family trust.

Persons: Jack Ma, Charles Platiau, Alibaba, Ma, Yuvraj Malik, Saumyadeb Organizations: Viva Tech, REUTERS, China Morning Post, Alibaba Group Holdings, HK, JSP Investment, JC, Hong, Alibaba, Thomson Locations: Paris, France, U.S, Hong Kong, Bengaluru

☆ China's Alibaba to scrap cloud unit spinoff in response to US chip curbs
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] 3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 16 (Reuters) - China's Alibaba Group Holding (9988.HK), said on Thursday it will scrap the spin off of its cloud unit in response to export curbs by the United States on chips used in artificial intelligence applications. Its U.S.-listed shares fell about 5% in premarket trading after it also reported second-quarter revenue in line with market expectations. "The recent expansion of U.S. restrictions on export of advanced computing chips has created uncertainties for the prospects of Cloud Intelligence Group," Alibaba said. The e-commerce giant posted revenue of 224.79 billion yuan ($31.01 billion) in the quarter, compared with analysts' average estimate of 224.32 billion yuan, according to LSEG data.

Persons: Dado Ruvic, Alibaba, Pinduoduo, Eddie Wu, Alibaba Group's, Jack Ma, Daniel Zhang, Akash Sriram, Sam Holmes, Arun Koyyur Organizations: REUTERS, HK, U.S, Cloud Intelligence Group, PDD Holdings, Thomson Locations: United States, Bengaluru

☆ Alibaba shares slide over 8% after it disappoints on profit, curbs cloud spinoff
▼ + stars: | 2023-11-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Here's how Alibaba did in the September quarter, compared with Refinitiv consensus estimates:Net income attributable to ordinary shareholders: 27.7 billion yuan ($3.8 billion) versus 29.7 billion yuan expected. 27.7 billion yuan ($3.8 billion) versus 29.7 billion yuan expected. Revenue: 224.79 billion yuan ($31 billion) versus 224.3 billion yuan expected. On Thursday, Alibaba said that the U.S. chip restrictions have "created uncertainties for the prospects of Cloud Intelligence Group."

Persons: Alibaba, Eddie Wu, Daniel Zhang, Joe Tsai Organizations: Alibaba, Holding, Smart, U.S, Cloud Intelligence, Amazon Web Services, Microsoft Locations: Chongqing, China, U.S

☆ Jack Ma's family trust to sell 10 mln shares in China's Alibaba
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - Chinese billionaire Jack Ma's family trust is set to sell 10 million American Depository Shares of Alibaba Group Holdings (9988.HK), for about $871 million, the ecommerce company said in regulatory filings. The sale will be done on Nov. 21 by JSP Investment and JC Properties, funds that are part of the family trust. Alibaba and the Jack Ma Foundation, the philanthropic organization that handles media queries for the billionaire, did not immediately respond to requests for comment. U.S.-listed shares of Alibaba were down more than 3% in premarket trading ahead of its quarterly results. Reporting by Akash Sriram in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Jack Ma's, Jack Ma, Ma, Eddie Wu, Akash Sriram, Arun Koyyur Organizations: Alibaba Group Holdings, HK, JSP Investment, JC, Jack Ma Foundation, Thomson Locations: Ma . U.S, Alibaba, Bengaluru

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

☆ SoftBank Loses $6.2 Billion in Quarter as WeWork Weighs on Investments
▼ + stars: | 2023-11-09 | by ( Megumi Fujikawa | Eliot Brown | ) www.wsj.com time to read: 1 min

SoftBank was WeWork’s biggest backer since it started investing in 2017. Photo: Kentaro Takahashi/Bloomberg NewsTOKYO— SoftBank Group sank deeper into the red in the July-September period as it reported write-downs related to the bankruptcy of office-sharing company WeWork and technology shares stayed under pressure amid rising interest rates in the U.S. The Japanese technology investor posted a net loss of 931.1 billion yen, equivalent to $6.2 billion, for the quarter ended Sept. 30. That is compared with a 477.6 billion yen loss in the April-June quarter and 3.034 trillion yen profit a year earlier, when it unwound its stake in Alibaba Group Holding .

Persons: SoftBank, Kentaro Takahashi Organizations: Bloomberg News TOKYO — SoftBank, U.S, Alibaba

☆ Stocks making the biggest moves after hours: Wynn Resorts, Illumina, Unity Software, The Trade Desk and more
▼ + stars: | 2023-11-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Synaptics posted per-share adjusted earnings of 52 cents on revenue of $238 million. Analysts had estimated earnings of 40 cents per share on $233 million in revenue, according to LSEG. Unity Software — The video game software company declined nearly 14% after its third-quarter revenue missed expectations. Meanwhile, the company posted adjusted earnings and revenue above analysts' estimates in the third quarter. Capri posted adjusted earnings of $1.87 per share on $1.29 billion in revenue.

Persons: Wynn, Synaptics, LSEG, Vince McMahon, John D, Idol Organizations: Wynn, Unity Software, Capri

☆ Aussie 'big four' banks hike home loan rates after RBA decision
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

People use Commonwealth Bank of Australia (CBA) bank ATMs in Sydney, Australia May 3, 2018. The National Australia Bank (NAB.AX), ANZ Group Holdings (ANZ.AX) and Westpac Banking Corp (WBC.AX), the other three of Australia's "big four", had hiked their home loan rates on Wednesday by 0.25%. The rate hike by the National Australia Bank (NAB.AX) and ANZ Group Holdings (ANZ.AX) would be effective from Nov. 17, while Westpac Banking Corp (WBC.AX) would raise rates from Nov. 21, the lenders said in separate statements on Wednesday. CBA said its home loan variable rate change would be effective from Nov. 17. Reporting by Rishav Chatterjee and Upasana Singh in Bengaluru; Editing by Savio D'Souza and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, Rishav Chatterjee, Upasana Singh, Savio D'Souza, Rashmi Organizations: Commonwealth Bank of Australia, REUTERS, Thursday, National Australia Bank, ANZ Group Holdings, Westpac Banking Corp, Reserve Bank of Australia, Wednesday, CBA, Thomson Locations: Sydney, Australia, Bengaluru

☆ Huawei, Tencent among top cybersecurity patent holders as China fosters own tech, report says
▼ + stars: | 2023-11-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Chinese companies have gained ground in global patent holdings in the cybersecurity technology sector amid growing U.S.-China tensions, according to a report from Nikkei Asia on Sunday. Chinese firms such as Huawei and Tencent accounted for six of the top 10 global patent holdings in the cybersecurity technology sector as of August, based on data compiled by Nikkei in cooperation with U.S. information services provider LexisNexis. The report said that U.S. computer manufacturer IBM came out top with 6,363 patents followed by Huawei and Tencent with 5,735 and 4,803 patents respectively. Among the top 10 include Alibaba's financial arm Ant Group in sixth place with 3,922 patents, as well as Alibaba Group Holding with 3,122 patents, the Nikkei said. This comes as escalating tensions between the U.S. and China have pushed the latter and its homegrown firms to seek self-reliance in science and technology.

Organizations: Nikkei Asia, Huawei, Nikkei, LexisNexis, IBM, China Investment Corp, U.S Locations: China, U.S, Beijing

☆ Fenway chairman confirms talks with PGA Tour as doubts grow about LIV Golf deal
▼ + stars: | 2023-11-06 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Fenway Sports Group Chairman Tom Werner on Monday acknowledged that the company has held talks with the PGA Tour as the golf organization's framework agreement with Saudi-backed LIV Golf faces new doubts. Werner, who spoke alongside PGA Tour star Rory McIlroy, said that the players "will decide the direction the tour goes." McIlroy had been outspoken in his disdain for LIV Golf, saying in July that if LIV Golf was "the last place to play golf on earth, I would retire." LIV lured PGA Tour players, like Phil Mickelson, to with deals worth hundreds of millions of dollars. McIlroy sounded a friendlier note Monday, when asked about the potential for a renewed rivalry between the PGA Tour and LIV Golf.

Persons: Tom Werner, LIV Golf, we've, Werner, CNBC's Scott Wapner, Rory McIlroy, LIV, Alan Shipnuck, McIlroy, Critics, Prince Muhammad bin Salman, Tiger Woods, LIV Golf's, Phil Mickelson, McIlroy's Organizations: Fenway Sports, PGA Tour, PGA, Boston Red Sox, Liverpool FC, Veteran, Endeavour Group Holdings, WWE, UFC, Saudi Arabia's Public Investment Fund, Saudi, Tiger, Tour, ESPN, TGL, Fenway, Boston, CNBC Locations: Saudi, U.S

BOSTON, Nov 1 (Reuters) - The CEO of Spirit Airlines on Wednesday defended in court the planned $3.8 billion acquisition of his company by JetBlue Airways as a means to create a viable competitor to the four larger airlines that dominate the U.S. skies. Ted Christie, Spirit's chief executive officer, during the second day of trial in the U.S. Department of Justice's lawsuit challenging the merger testified that his ultra-low-cost airline remained "relatively insignificant" despite years of growth. He said Spirit, which has not turned a profit in three years, had just around 3% of the market and was facing "more effective" competition from those larger airlines - United Airlines, American Airlines, Delta Air Lines and Southwest Airlines - in the aftermath of the COVID-19 pandemic. Christie testified that throughout the negotiations for the deal in 2022, Spirit had been concerned how regulators would view a merger with JetBlue, as the Justice Department had already sued JetBlue to challenge a planned Northeast partnership with American Airlines. Reporting by Nate Raymond in Boston, Editing by Alexia Garamfalvi and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Ted Christie, Christie, Spirit, Jay Cohen, William Young, Nate Raymond, Alexia Garamfalvi, Nick Zieminski Organizations: BOSTON, Spirit Airlines, JetBlue Airways, U.S . Department of, Spirit, United Airlines, American Airlines, Delta Air Lines, Southwest Airlines, JetBlue, Frontier Group Holdings, U.S, Justice Department, Democratic, District of Columbia, Thomson Locations: U.S, Boston, New York City, Newark, Fort Lauderdale

☆ Stocks making the biggest moves before the bell: Hasbro, Southwest, Hershey, Royal Caribbean and more
▼ + stars: | 2023-10-26 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Hasbro earned $1.64 per share excluding items on $1.5 billion in revenue, while analysts polled by LSEG had anticipated $1.70 per share in earnings and revenue at $1.64 billion. Southwest posted $6.53 billion in revenue, while analysts surveyed by LSEG expected $6.57 billion. Bristol-Myers topped earnings expectations and posted revenue that was in line with expectations. ServiceNow — The software stock rose more than 3% after posting stronger-than-expected quarterly results and sharing solid subscription revenue expectations for the current period. UPS – The shipping company saw shares decline 3% premarket following its third quarter earnings report.

Persons: LSEG, Revlimid, Myers, Overstock.com, Hershey, overshadowing, Mattel —, ServiceNow, it's, Silver Lake, —, Sarah Min, Tanaya Macheel, Samantha Subin, Lisa Kailai Han, David Paul Morris Organizations: Hasbro, Southwest —, Southwest, Myers, Bristol, Overstock.com, FactSet, Royal Caribbean, Mattel, Wednesday, UPS, Endeavor Group Holdings, Endeavor, Holdings, WWE, UFC, Barclays —, Bank of America, Barclays, underperform, Hasbro Inc, Target Corp, Bloomberg, Getty Locations: Bristol, Nextracker, FactSet, Thursday's premarket, Emeryville , California, U.S

☆ Silver Lake Looks to Privatize Hollywood Agency Titan Endeavor
▼ + stars: | 2023-10-25 | by ( Jessica Toonkel | Joe Flint | ) www.wsj.com time to read: 1 min

Ari Emanuel, chief executive officer of Endeavor, says, ‘an evaluation of strategic alternatives is a prudent approach’ to ‘maximizing value for our shareholders.’ Photo: Kyle Grillot/Bloomberg NewsPrivate-equity giant Silver Lake said it is working on a proposal to take private Endeavor Group Holdings, the owner of talent agencies WME and IMG. “Silver Lake firmly believes in Endeavor’s business and is not interested in selling its shares in Endeavor to a third-party nor in entertaining bids for assets that are a part of Endeavor,” the firm wrote in a statement. Silver Lake owns about 71% of the voting stake in Endeavor.

Persons: Ari Emanuel, Kyle Grillot, Silver Organizations: Endeavor, ’, Bloomberg, Private, Endeavor Group Holdings, Silver Lake

☆ Ari Emanuel’s Endeavor is considering the sale of some of its assets
▼ + stars: | 2023-10-25 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

New York CNN —Endeavor Group Holdings, led by the high-power agent to the stars, Ari Emanuel, said that it is considering a sale of some of its assets. Earlier this year, Endeavor, which owns mixed martial arts company UFC, merged with World Wrestling Entertainment to create TKO Holdings. Shares of TKO Holdings, which is a separate publicly traded company apart from Endeavor, climbed nearly 2% in after-hours trading Wednesday. Correction: A previous version of this story incorrectly identified the assets Endeavor is considering selling as well as IMG's function. Endeavor is considering strategic options for its companies but did not identify any particular asset for sale.

Persons: Ari Emanuel, ” “, ”, Ariel Emanuel, Endeavor’s, Dwayne “, ” Johnson, Matt Damon, Emanuel, Francois, Henri Pinault Organizations: New, New York CNN — Endeavor Group Holdings, Wednesday, Endeavor, Company, IMG, Holdings, UFC, World Wrestling Entertainment, CAA Locations: New York

☆ Stocks making the biggest moves after hours: Meta, Whirlpool, Mattel, Endeavor and more
▼ + stars: | 2023-10-25 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Meta posted revenue of $34.15 billion and earnings of $4.39 per share. Analysts polled by LSEG called for $33.56 billion in revenue and $3.63 in earnings per share. Align posted $2.14 in adjusted earnings per share and revenue of $960 million, missing estimates from analysts polled by LSEG. Mattel posted $1.08 per share in adjusted earnings, while analysts polled by LSEG called for 86 cents in earnings per share. Whirlpool — The home appliance company dropped 5% after Whirlpool trimmed its earnings guidance for the full year.

Persons: ServiceNow, LSEG, Joe Hogan, Mattel, Ari Emanuel, —, Darla Mercado, Mike Calia Organizations: LSEG, IBM, Revenue, Facebook, Meta, Mattel, Whirlpool, Endeavor Group Holdings, Endeavor, Holdings, WWE, UFC Locations: LSEG

☆ Ari Emanuel's Endeavor says it will explore strategic alternatives, sending stock higher
▼ + stars: | 2023-10-25 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Endeavor Group Holdings , the talent agency and sports company run by Ari Emanuel, said Wednesday it would start exploring strategic alternatives for the company, which could mean a potential sale. The move comes weeks after French billionaire Francois-Henry Pinault agreed to buy a majority stake in Endeavor rival Creative Artists Agency. Endeavor's market value, likewise, was $7.79 billion as of Wednesday's market close, having declined 21% so far this year. Notably, Endeavor said it wouldn't consider ditching its interest in TKO Group Holdings , the newly formed combat sports company that includes Vince McMahon's WWE and Dana White's UFC. Endeavor owns 51% of TKO, which began trading on the New York Stock Exchange last month.

Persons: Ari Emanuel, Mark Bradford, George Lucas, Gucci, Emanuel, Francois, Henry Pinault, Vince McMahon's, Dana White's, – CNBC's Alex Sherman Organizations: Endeavor Group Holdings, Endeavor, Creative Artists Agency, Holdings, Vince McMahon's WWE, Dana White's UFC, New York Stock Exchange Locations: LACMA, Los Angeles , California

☆ Silver Lake working to take entertainment giant Endeavor private
▼ + stars: | 2023-10-25 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +2 min

Trading information and logo for Endeavor Group Holdings, Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. REUTERS/Brendan McDermid/File photo Acquire Licensing RightsOct 25 (Reuters) - Private equity firm Silver Lake said on Wednesday it was working on a proposal to take talent and media company Endeavor Group Holdings (EDR.N) private, after Endeavor announced it had begun a review to explore alternatives that better value the company. "Silver Lake is currently working toward making a proposal to take Endeavor private," it said. Endeavor Group, which has diversified holdings in talent-management, live sports and festivals, is valued at around $8.4 billion. The private equity firm acquired a minority stake in the William Morris Endeavor talent agency in 2012, and Silver Lake Co-CEO Egon Durban and managing partner Stephen Evans serve on Endeavor's board of directors.

Persons: Brendan McDermid, Silver Lake, Francois, Henri Pinault, Ari Emanuel, Emanuel, William Morris, Egon Durban, Stephen Evans, Jaspreet Singh, Dawn Chmielewski, Devika Syamnath, Shailesh Kuber, Rod Nickel, Tom Hogue, David Gregorio Our Organizations: Endeavor Group Holdings, Inc, New York Stock Exchange, REUTERS, Silver, Endeavor, Creative Artists Agency, Endeavor Group, Boston Red Sox, Fenway Sports Group, PGA, Reuters, William, William Morris Endeavor, Thomson Locations: New York City, U.S, Bengaluru, Dawn, Los Angeles

☆ Anheuser-Busch and UFC strike multiyear partnership, as brewer tries to turn around Bud Light sales
▼ + stars: | 2023-10-24 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Anheuser-Busch InBev's Bud Light will again become the official beer sponsor for the Ultimate Fighting Championship with a six-year marketing partnership, the companies announced Tuesday. As part of the agreement, Bud Light will receive exclusive and prominent branding at UFC fights and events, as well as in-arena promotion. The agreement comes on the heels of a conservative boycott against Anheuser-Busch's Bud Light that began this spring when the brand partnered with transgender influencer Dylan Mulvaney. The partnership grants Bud Light visibility in an estimated 900 million TV households in more than 170 countries. "Anheuser-Busch and Bud Light were UFC's original beer sponsors more than fifteen years ago.

Persons: Busch, Bud Light, Bud, influencer Dylan Mulvaney, Dana White, Donald Trump's, Brendan Whitworth, White Organizations: Anheuser, CNBC, UFC, Modelo Especial, U.S, Busch, Modelo, Constellation Brands, Holdings Inc, Bud Locations: Las Vegas

☆ Stocks making the biggest moves midday: Chevron, Okta, Walgreens, Spirit AeroSystems and more
▼ + stars: | 2023-10-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Chevron — Chevron shares fell 3% after the energy giant agreed to buy Hess in a $53 billion all-stock deal , or $171 per share. Walgreens Boots Alliance — Shares popped 5.4% on Monday after JPMorgan upgraded shares to overweight from neutral and raised its price target. Beauty — Shares added 5% after Raymond James upgraded shares to strong buy from outperform in a Monday note. Spirit AeroSystems — The aerospace company's shares gained 4.8% after Bernstein raised its rating on shares to outperform from market perform. FMC Corp — The insecticide company's shares tumbled 12% after FMC issued third-quarter guidance that's lower than what it originally called for.

Persons: Hess, Okta, Pinterest, Raymond James, Olivia Tong, Tong, Bernstein, Pat Shanahan, EngageSmart, Stonepeak, CNBC's Pia Singh, Samantha Subin, Alex Harring, Sarah Min Organizations: Chevron — Chevron, Chevron, Exxon Mobil, Natural Resources, Citi, Evercore, Stifel, Walgreens, JPMorgan, Vista Equity Partners, Textainer, Clean Holdings, FMC Corp, FMC Locations: Guyana, U.S, America

☆ EV brand Beyonca signs investment deal with Saudi Arabian group
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

Beyonca's GT Opus 1 concept car is unveiled during an event at the electric vehicle (EV) start-up's headquarters in Beijing, China October 30, 2022. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - Electric vehicle brand Beyonca, backed by Renault (RENA.PA) and Dongfeng Motor (0489.HK), said on Monday that it signed an investment agreement with Riyadh-based Al Faisaliah Group Holding Company. At the signing ceremony at Dongfeng Motor's headquarters in the central Chinese city of Wuhan, Beyonca also inked a strategic cooperation deal with QG FZE-LLC regarding investment opportunities in the Middle East, according to the EV brand. Reporting by Beijing newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Beyonca, QG, Jamie Freed Organizations: REUTERS, Rights, Renault, HK, Al, Group Holding, Beijing, Thomson Locations: Beijing, China, Rights BEIJING, Riyadh, Wuhan

☆ Morning Bid: 'Remarkable' US markets surf crosscurrents
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Stock futures are higher once again ahead of the bell today. As cash Treasury markets returned from Monday's Columbus Day holiday to a week of heavy long-term debt auctions, they were also greeted with rekindled optimism about the Federal Reserve's policy rate trajectory. Ten-year U.S. Treasury yields are set to kick off Tuesday's U.S. trading day at some 4.65% - almost a quarter of a percentage point below the peak set just after Friday's blowout September jobs report. Elsewhere, PepsiCo (PEP.O) edged 0.8% higher ahead of the beverage maker's third-quarter results and Unity (U.N) jumped 6.4% after the video-game software maker said its CEO John Riccitiello would retire.

Persons: Brendan McDermid, Mike Dolan, Lorie Logan, Logan, Philip Jefferson chimed, John Riccitiello, Christopher Waller, Neel Kashkari, Mary Daly, Raphael Bostic, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Columbus, Federal, Dallas Fed, Treasury, Monetary Fund, IMF, World Bank, Fund, HK, Bloomberg, Alibaba, Baidu, PepsiCo, Reserve, San Francisco Fed, Atlanta Fed, PepsiCo NFIB Consumer, Reuters Messaging, Thomson, Reuters Locations: New York City, U.S, Israel, Marrakesh, China, Beijing, Minneapolis, San

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