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☆ Disney earnings offer hope that streaming can successfully supplant linear TV
▼ + stars: | 2024-11-14 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +2 min

For Disney's fiscal 2025, streaming will generate enough operating income to offset the parallel decline in operating income from linear TV, Johnston said in an interview. Disney projects entertainment direct-to-consumer operating income will increase by about $875 million next year over fiscal year 2024. That would put the division at over $1 billion in operating income for the coming fiscal year. Disney's combined streaming businesses improved their profitability in the company's fiscal fourth quarter, posting operating income of $321 million. For the year, Disney's entertainment streaming platforms (Disney+ and Hulu) made $143 million in operating income.

Persons: Gabby Jones, Warren Buffett, CNBC's Becky Quick, it's, Buffett, Hugh Johnston, Johnston Organizations: Disney, Bloomberg, Getty, Paramount Global, Warner Bros, Hulu, ESPN Locations: Brooklyn, New York, Omaha

☆ Trump's victory has turned up the heat on Disney and its CEO, Bob Iger
▼ + stars: | 2024-11-14 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

AdvertisementSome Disney insiders worry about the impact of a second Trump term on the company amid culture wars. Disney CEO Bob Iger and Donald Trump publicly sparred during Trump's first presidential term. During Trump's first term, Iger seemed to publicly align with his opposition. One person close to Disney speculated about whether the political climate would lead news outlets such as Disney's to self-censor. "The risk to these guys is, they have to tone down the rhetoric," the person close to Disney said.

Persons: Bob Iger, Donald Trump, Trump's, Iger, Trump, Harris, Puck, Elon Musk, Nelson Peltz, Dana Walden, Kamala Harris, Disney, I'm, irking Trump, Walden's Harris, He's Organizations: Disney, Trump, Business, ABC, Elon, CNBC, New York Post, ABC News, Warner Bros, Hulu, Sinclair Locations: Hollywood, Iger, Paris, Fox

☆ Disney stock surges on streaming growth, guidance
▼ + stars: | 2024-11-14 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Disney | PixarDisney reported its fiscal fourth-quarter earnings Thursday, narrowly beating analyst estimates as streaming growth helped propel its entertainment segment. During Disney's fiscal 2025, the company expects high-single-digit adjusted earnings growth compared with the prior fiscal year. Disney anticipates double-digit percentage growth in operating income for its entertainment segment for fiscal 2025. Streaming stridesThe atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022. During the fiscal fourth quarter Disney's streaming entertainment ad revenue was up 14% due to Disney+, and executives expect it to be a driver of streaming revenue going forward.

Persons: —, Bob Iger, who's, they're, Hugh Johnston, Disney, Presley Ann, Walt Disney Organizations: Disney, Pixar Disney, Revenue, Warner Bros, Getty, Hulu, ESPN, Discovery, Netflix, Comcast, Paramount Global, " Media, U.S, Walt Locations: Los Angeles, India

☆ MNTN CEO Mark Douglas: You will be seeing a lot of profits in Disney's streaming business
▼ + stars: | 2024-11-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMNTN CEO Mark Douglas: You will be seeing a lot of profits in Disney's streaming businessMNTN CEO Mark Douglas joins CNBC’s ‘The Exchange’ to discuss Disney as the company reported its fiscal fourth-quarter earnings, the performance of its streaming business, and more.

Persons: Mark Douglas, CNBC’s Organizations: Disney

WASHINGTON — Rep. Dan Goldman, D-N.Y., plans to file a resolution in the House on Thursday that would express support for the 22nd Amendment of the Constitution, which sets the term limits for the president. However, he could introduce it as a privileged resolution to force Republicans to vote on the matter. The resolution, which NBC News obtained Wednesday, reaffirms that the 22nd Amendment "applies to two terms in the aggregate as President of the United States" and reaffirms that it "applies to President-elect Trump." The resolution lists a number of instances in which Trump has joked or floated the idea of serving longer than two terms in the White House or being a dictator. To amend the Constitution and modify term limits for president, both the House and the Senate would need to approve amendment language by two-thirds votes.

Persons: Dan Goldman, Trump, “, we’ve, Harry Truman, Franklin D, Roosevelt Organizations: WASHINGTON —, NBC, New York Times, House Republican, Congressional Research Service, Congress, National Conference of State Legislatures Locations: United States, Trump

Soto, 26, is hands down this winter’s most highly sought-after free agent, valued as much for his elite baseball skills as for his birth date. And in an age of swing-for-the-fences baseball, Soto struck out just 16.7% of the time, while the league whiffed at a 22.2% clip this season. Free agency is “going to be exciting,” Soto told reporters moments after the Yankees lost Game 5 of the World Series, ending the baseball season. The AL champion Yankees had the second-highest MLB payroll, at $309.8 million for their 40-man roster, according to Baseball Prospectus. There's no telling when Soto or other any free agents will come to terms with their 2025 teams.

Persons: Juan Soto, Soto, Al Leiter, Leiter, Shohei, Scott Boras, Ohtani, ” Soto, “ It’s, Aaron Judge, they'll, Bryce Harper, Harper, “ I’m, ”, Cy Young, Blake Snell, “ We’re Organizations: Major League Baseball, Yankees, American League, Dodgers, New York Mets, San Diego Padres, Boston Red Sox, Toronto Blue Jays, San Francisco Giants, MLB, baseball's, MLB Network, Mets, Red Sox, Blue Jays, Los Angeles Dodgers, Dodgers DH, NL, Soto's, Philadelphia Phillies, Phillies, Big Apple, AL, Baseball, Cleveland Guardians, The Dodgers Locations: Los Angeles, Southern California, Soto's New York, South Philly, San Diego, New York

☆ Why the Chiefs love Steve Spagnuolo: Exotic blitzes, tough love and home cooking
▼ + stars: | 2024-11-13 | by ( Dan Pompei | ) www.nytimes.com time to read: +14 min

— Before dawn on a fall Friday, Steve Spagnuolo enters the Kansas City Chiefs facility with a large aluminum pan. “He was,” Spagnuolo says, “a man of character.”AdvertisementEgsegian and Spagnuolo had long talks on bleacher benches after practices. Steve and Maria Spagnuolo make Chiefs defenders feel like family. “Steve loves the fellas and likes to show them.”They bring Greek food to Chiefs defensive end George Karlaftis, a native of Athens. Jones has called Spagnuolo a father figure, as have Reid, Sneed and others.

Persons: Steve Spagnuolo, Maria, Price, Steve, Spagnuolo, Richard Egsegian, Egsesian, ” Spagnuolo, “, Egsegian, Andy Reid, Reid, Jim Johnson, Les Frazier, Maria Spagnuolo, Dan Pompei, Michael Strahan, ” Strahan, Tom Brady, “ He’s, ” Brady, ”, Kevin Demoff, ” Demoff, “ I’ve, Jeffrey, Crissy, Quintin Mikell, Spagnoulo, Mikell, Angelina Damiani, Jesus, ” Maria, “ Steve, George Karlaftis, ” Karlaftis, L’Jarius Sneed, don’t, Chris Jones, Jones, Justin Reid, Nick Bolton, Sneed, Bryan Cook, he’s, Strahan, ” Sneed, ‘, ’, Cook, ” Cook, meekly, He’ll, ” Jones, Sean Payton, Will, Patrick Mahomes, Tony Baker, Baker, “ crams, Tershawn Wharton, Cram, Dan Goldfarb, Kevin C, Cox Organizations: KANSAS CITY, Kansas City Chiefs, Chiefs, Aldi, NFL, Coaches, Grafton High School, Volkswagen, University of Massachusetts, Patriots, Springfield College, World League, Eagles, Giants, Spagnuolo’s Giants, Fox, Louis Rams ’, Rams, Los Angeles Rams, Titans, Pro Football Hall of Fame, America, “ Fox NFL, Bowl, Kansas City, Nguyen, Saints Locations: KANSAS, Mo, Cosentino’s, Grafton , Mass, Spagnuolo, Philadelphia, West Philly, Athens, Cook’s, Cook, Kansas, Maria

☆ Cisco reports fourth straight quarter of declining revenue
▼ + stars: | 2024-11-13 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Cisco CEO Chuck Robbins speaks at The Wall Street Journal's Future of Everything Festival in New York on May 21, 2024. Cisco reported a fourth straight quarter of declining revenue even as results topped analysts' estimates. Net income fell to $2.71 billion, or 68 cents per share, from $3.64 billion, or 89 cents per share, in the same quarter a year ago. During the quarter, Cisco acquired security startups DeepFactor and Robust Intelligence. Analysts expected adjusted earnings for the year of $3.58 per share on $55.89 billion in revenue.

Persons: Chuck Robbins, Robbins, Scott Herren, Herren Organizations: Cisco, Everything, StreetAccount, Dell, White, Intelligence, Cisco Systems, Applied Materials, Disney Locations: New York

☆ Goldman sees 20% upside as Philip Morris moves to mostly smoke-free products such as Zyn
▼ + stars: | 2024-11-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Philip Morris shares have more room to run as the Marlboro maker continues to shift its focus from cigarettes to smoke-free products, according to Goldman Sachs. Herzog also reiterated her buy rating and called Philip Morris a top pick heading into 2025. Philip Morris announced earlier this year that it would invest $600 million to build a new Zyn production facility in Colorado. PM YTD mountain PM, year to date Herzog also said Philip Morris shares will benefit from the domestic debut of heated tobacco product Iluma. Philip Morris shares have jumped more than 33% in 2024.

Persons: Philip Morris, Goldman Sachs, Bonnie Herzog, Herzog, Philip Locations: Marlboro, Tuesday's, U.S, Colorado

Amid a presidential loss and hand-wringing over the wreckage, congressional gains for Democrats in New York state are one of the small bright spots shining out from the party’s bleak results. The Democratic Party lost five competitive House races in this blue state two years ago — the exact margin by which they lost the House majority. One key ingredient isn’t available everywhere: Democrats redrew the state political maps early this year, though that move gave some Democrats heartburn at the time. In the aftermath of 2022, three top New York Democrats — Gov. Internal polling from the House GOP campaign arm across the seven competitive House districts showed Harris trailing Biden’s margins – and even giving Trump an edge.

Persons: Kamala Harris underperformed, Joe Biden, heartburn, Hochul, Harris, Josh Riley, It’s, they’re, Biden, ” Riley, “ We’ve, ” It’s, Kathy Hochul, Sen, Kirsten Gillibrand, Hakeem Jeffries —, Coke, Syracuse University —, —, “, ”, you’d, aren’t Organizations: Democratic Party, redrew, Democratic, ”, NBC, Congressional, Democrats, New York Democrats — Gov, NBC News, Syracuse University, Pepsi, Republicans, Republican, stoke, GOP, Trump Locations: New York, Riley’s, “, York, Wisconsin, New York City

☆ Cowboys QB Dak Prescott is out for the season with hamstring injury
▼ + stars: | 2024-11-12 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

Dallas Cowboys quarterback Dak Prescott will undergo surgery on his hamstring and miss the rest of the season, Cowboys owner and general manager Jerry Jones said Tuesday. Prescott partially tore his hamstring in the second half of Dallas’s Week 9 loss to the Atlanta Falcons. In September, the Cowboys signed Prescott to a four-year, $240 million contract with $231 million guaranteed, the richest contract in NFL history. Cooper Rush started in place of Prescott during the Cowboys’ 34-6 loss to the Eagles on Sunday. In his career, Prescott has thrown for 31.437 yards, 213 touchdowns and 82 interceptions, with a 98.1 passer rating.

Persons: Dak Prescott, Jerry Jones, Prescott, ” Jones, Cooper Rush, Rush, Trey Lance, Lance, —, Tony Romo Organizations: Dallas Cowboys, Cowboys, Atlanta Falcons, Prescott, NFL, Eagles, Sunday, Dallas, NFC East, The Cowboys Locations: Prescott

☆ The Jets fired their coach to save their season. Except he wasn’t the problem
▼ + stars: | 2024-11-12 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

The New York Jets, 2-3 through five weeks, could have looked at the glass as half full. And despite their 2-3 record, the Jets entered Week 6 only one game behind the Buffalo Bills for the lead in the AFC East. In the five games since they fired Saleh, the Jets are only 1-4. Where has the Jets' season gone wrong? The Jets are averaging 17.7 points per game this season, not even a full two points more than the 15.8 they averaged last year.

Persons: Aaron Rodgers, Robert Saleh, hasn’t, Saleh, Rodgers, Nathaniel Hackett, Davante Adams, Adams, Saleh —, — Organizations: New York Jets, Denver Broncos, Minnesota Vikings, Jets, Buffalo Bills, AFC, Vikings, Arizona Cardinals, Super Bowl, Rodgers, Las Vegas Raiders, Raiders, The Jets Locations: New York, , New York, Green Bay, York

PHOENIX — Democratic Rep. Ruben Gallego will be Arizona’s first Latino senator next year, NBC News projects, after he defeated Republican Kari Lake amid a protracted vote count in one of the key swing states. Trump won the state in 2016 and won it again this year by what appears to be his biggest margin in any of the core swing states. But he kept his message homed on the issues behind those identities, linking them to border security, comprehensive immigration reform and expanded mental health services for veterans. Gallego focused on his party’s strengths, like reproductive rights, but he also tried to tackle his party’s weaknesses head-on, advertising on issues like border security. Lake tried to tie Gallego to Biden and his administration on a host of issues, but especially border security, a key focus of hers during their lone debate in October.

Persons: Ruben Gallego, Republican Kari Lake, Gallego, Sen, Kyrsten Sinema, Donald Trump, Trump, Joe Biden, Bernie Sanders, MAGA, Juntos Con Gallego, Biden, “ Trump, ”, Phoenix Mayor Kate Gallego Organizations: PHOENIX — Democratic, NBC News, Republican, Democratic, Congressional Progressive Caucus, Senate, Trump, Marine, Veterans, Juntos, Phoenix Mayor Locations: Arizona

☆ Rocket Lab stock pops 25% after company reports strong revenue growth, first Neutron deal
▼ + stars: | 2024-11-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Rocket Lab shares jumped in post-market trading after the company reported third-quarter results and announced its first customer for its coming Neutron vehicle. The space infrastructure company reported third-quarter revenue increased to $104.8 million, up 55% from $67.6 million for the same period a year ago. Rocket Lab forecast fourth-quarter revenue between $125 million and $135 million, which at the midpoint would see the company bring in about $430 million this year. Additionally, the company announced its first launch deal for its Neutron rocket. Shares of Rocket Lab jumped as much as 25% in after-hours trading, up from its close at $14.66 a share.

☆ Nuclear-powered aircraft carriers would give China's growing navy new reach, and researchers say it's working on the reactor to power one
▼ + stars: | 2024-11-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

Satellite images and Chinese documents point to work on a nuclear-powered aircraft carrier. AdvertisementResearchers say they found evidence that China has built a prototype nuclear reactor to power a large warship, like an aircraft carrier. "They know that this is the hallmark of technology for propulsion on aircraft carriers." AdvertisementThe first American nuclear-powered aircraft carrier was USS Enterprise, commissioned in 1961. Pu Haiyang/Xinhua via Getty ImagesA nuclear-powered aircraft carrier would extend China's naval reach.

Persons: —, Matthew Funaoile, Funaoile, it'll Organizations: Service, Middlebury Institute of International Studies, Planet Labs PBC, Business, Associated Press, China Ship Research, Design Center, AP, Middlebury Institute of International, China, China Power, Center for Strategic, International Studies, USS Enterprise, Nimitz, Ford, Getty Locations: China, California, Leshan, Mucheng, Sichuan province, Sichuan, Fujian, American, Liaoning, Shandong, Soviet, South, Taiwan, Xinhua

☆ Stocks making the biggest moves midday: Shopify, Honeywell, GE Vernova, Twilio and more
▼ + stars: | 2024-11-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Shopify's $2.16 billion revenue beat a FactSet estimate of $2.12 billion. Live Nation Entertainment — The live music and entertainment company gained 4% after posting a third-quarter earnings beat. On the other hand, revenue of $7.65 billion missed the $7.75 billion analysts had forecasted. Sea — Shares surged 1.7% after the tech company reported a third-quarter revenue beat. Mosaic — Shares slid 9% after the chemicals company reported disappointing quarterly results.

Persons: Twilio, Wells, Wells Fargo, Donald Trump's, SentinelOne, Tyson, StreetAccount, On's, FactSet, Mosaic, Clint Freeland, Luciano Siani Pires, Scott Strazik, Strazik, Donald Trump, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound, Pia Singh Organizations: Entertainment, Honeywell, Elliott Management, Aerospace, Automation, IAC, Trump Media & Technology, Deutsche Bank, Tencent, Shift4 Payments, GE, Financial Locations: —, Swiss

☆ Denzel Washington says he has 'not that many' films left to make before he retires — but one will be 'Black Panther 3'
▼ + stars: | 2024-11-12 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +3 min

He also said director Ryan Coogler is writing a role for him in "Black Panther 3." I don't know how many more films I'm going to make, probably not that many," Washington said. After that, Ryan Coogler is writing a part for me in the next 'Black Panther.' Related storiesMarvel fans were quick to pounce on Washington's comment about "Black Panther 3," which the studio has not yet announced. During the closing credits of "Wakanda Forever," text on the screen explicitly promises that "Black Panther will return."

Persons: Denzel Washington, Hannibal, King Lear, Ryan Coogler, —, Denzel Washington doesn't, he's, Paul Mescal, Antoine Fuqua, Steve McQueen, I'm, Washington, I've, Coogler, Tom Holland Organizations: Service, Denzel, Netflix, Marvel, Disney Plus, Disney Locations: Washington

☆ When will this Trump-fueled bull market approach bubble territory? Watch this indicator
▼ + stars: | 2024-11-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The CBOE Volatility Index , known on Wall Street as the VIX, helps traders track when a market rally is actually unhealthy, said DataTrek co-founder Nicholas Colas. Monday's close for the VIX around 15 "is a healthy sign" for the temperature of the market as it advances, Colas wrote to clients. To put it succinctly: "Rallies built on an elevated VIX signal a bubble," he wrote. That's a lesson market participants learned, during the dot-com bubble of the mid- to late-1990s, he said. In the current bull market, dating back to the fourth quarter of 2022, however, the VIX has been largely "well behaved," Colas argued.

Persons: DataTrek, Nicholas Colas, Donald Trump, —, Monday's, Colas, That's, Jessica Rabe, Trump Organizations: Research, U.S

☆ I Was Laid Off From Amazon, Rehired, and Quit 3 Months Later
▼ + stars: | 2024-11-12 | by ( Stephanie Ramos | ) www.businessinsider.com time to read: +8 min

AdvertisementA year later, I got the opportunity to return to Amazon as a boomerang employee. I'd always been told that a value at Amazon was to treat "the candidate as a customer," but didn't experience that. Related storiesRTO implementation was inconsistentA few weeks later, in May 2024, I accepted a different offer from Amazon for a Nashville-based role on another team I'd applied for. My layoff should've been the writing on the wall — this place has changed — but I clung to the idea of the Amazon I'd once respected, not wanting to recognize what it had become. The Amazon I joined in 2016 thrummed a "fail fast and often" mentality, encouraging risk-taking that led to delightful innovations.

Persons: I'd, —, he'd, should've, Andy Jassy, Margaret Callahan, Stephanie Ramos, Jane Zhang Organizations: Amazon, Nashville, LinkedIn's, Companies, Technology Locations: Nashville, Atlanta

Now, Jannik Sinner and Carlos Alcaraz are fast becoming household names and the next generation-defining rivalry. However, Sinner and Alcaraz – ranked No. Due to their rapid success, it is easy to forget that Sinner is only 23 and Alcaraz just 21. Sinner hits a shot in the semifinals of the US Open, a tournament he went on to win. Time will tell if Sinner can put that ice-cold instinct to good use at the ATP Finals and win the tournament for the first time.

Persons: Ivan Lendl, John McEnroe, Jimmy Connors, Andre Agassi, Pete Sampras dueled, Roger Federer, Rafael Nadal, Novak Djokovic, Carlos Alcaraz, Federer, Alcaraz –, Roland Garros, Alcaraz, Italy –, Nadal, ” Alcaraz, ”, Andy, Murray, Sinner, Frey, JC Ferrero, Juan Carlos Ferrero, “, ‘ Oh, he’s, Sean M, it’s, Angela Weiss, Manchester City’s Erling Haaland, Kylian, Alex de Minaur, Taylor Fritz, Casper Ruud, Andrey Rublev Organizations: CNN, tennis, Australian, Wimbledon, ATP, CNN Sport, ATP Tour, JC, JC Ferrero Challenger, Getty, AC Milan, Manchester Locations: Turin, Italy, Flushing Meadows, China, Beijing, Shanghai, Real Madrid

☆ China just showed off its answer to America's F-35 stealth fighter — the new J-35A
▼ + stars: | 2024-11-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

China showed off its new stealth aircraft, including the fifth-gen J-35A. AdvertisementChina just debuted its newest fifth-generation stealth aircraft, which appears to be its answer to the American F-35. Related storiesFor stealth fighters, the US has the F-22 Raptor and F-35, and the latter is used by allies around the world. Among stealth aircraft, there are also stealth bombers like the American B-2 Spirit and B-21 Raider and a number of stealth drones. Stealth aircraft have features to reduce or obscure their signature on radars, making them difficult to detect.

Persons: —, Lockheed Martin, Wang Yongqing, Wang, Maj, Gina Sabric, Roger Wicker, Eric Schmitt Organizations: Service, China International Aviation, Aerospace, People's Liberation Army News Communication, Shenyang Aircraft Design, Aviation Industry Corporation of China's Shenyang Aircraft Corporation, Pentagon, Air Force, Air and Space Forces Association's Air, Cyber Conference, 10th Air Force, Getty, US, US Air Force, Stealth, Taiwan Locations: China, Zhuhai, Russia, Pacific, Taiwan

☆ Cleveland Cavaliers join exclusive group with unbeaten 12-0 start to the season
▼ + stars: | 2024-11-12 | by ( Matias Grez | ) edition.cnn.com time to read: +2 min

CNN —The Cleveland Cavaliers became just the eighth team in NBA history to start a season 12-0 after earning a hard fought 119-113 win over the Chicago Bulls on Monday night. The Bulls managed to tie the scores at 106-106, but Cleveland outscored its opponent down the stretch to cement its place in an exclusive NBA group. It’s the best start to an NBA season since the record-breaking 2015-16 Golden State Warriors, who set league records with a 24-0 start and a 73-9 campaign. Five of the last seven teams to start the season 12-0 have gone on to reach the NBA Finals, according to ESPN. The Cavaliers’ 9-0 start to the season was already the best in franchise history.

Persons: “, ”, Donovan Mitchell, We’re, It’s, clawing, Mitchell, Darius Garland, Evan Mobley, Shaina, ” Cleveland’s, Kenny Atkinson, Zach LaVine, Coby White, Nikola Vučević Organizations: CNN, The Cleveland Cavaliers, Chicago Bulls, Bulls, Cavaliers, The Bulls, Cleveland, NBA, Golden State Warriors, ESPN, ” Cavaliers, Brooklyn Nets, Boston Celtics, Eastern Conference Locations: Chicago

☆ Spotify shares pop on better-than-expected profit forecast
▼ + stars: | 2024-11-12 | by ( Cj Haddad | ) www.cnbc.com time to read: +1 min

The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange on Dec. 4, 2023. Spotify shares rose in extended trading Tuesday after the Swedish music streaming company issued a profit forecast for the fourth quarter that topped estimates. Spotify said operating income in the fourth quarter will come in at 481 million euros, exceeding the average analyst estimate of 432.7 million euros, according to StreetAccount. The company said sales will reach 4.1 billion euros, below the average analyst estimate of 4.26 billion euros, according to LSEG. Spotify shares rose about 8% after the report to $452.35 after rising 2.2% in regular trading.

Persons: MAUs Organizations: New York Stock Exchange, Spotify, LSEG Revenue, LSEG, StreetAccount Locations: Swedish

☆ The common national experience that explains Trump’s 2024 gains
▼ + stars: | 2024-11-12 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +15 min

Biden in 2020 did not gain ground across the country in as large a percentage of counties as Trump did in 2024. In 2020, Biden won Michigan, Pennsylvania and Wisconsin, the three former “blue wall” states that decided the election, by a combined 257,029 votes. “In 2020, Biden picks up everywhere. In 2020, Biden won only a little more than one-sixth of the nation’s counties, but the places he captured generated over 70% of the nation’s total economic output. The highest-output counties Trump flipped were almost entirely in the Sun Belt: from Hillsborough (Tampa) and Tarrant (Fort Worth) to Maricopa (Phoenix).

Persons: Donald Trump’s, Kamala Harris, Trump, Joe Biden’s, Trump hasn’t, Biden, ”, Alan Abramowitz, Harris, Harry Truman, Lyndon Johnson, Republican George W, Bush, Lynn Vavreck, “, Barack Obama, John Kerry’s, Obama, Hillary Clinton, Mitt Romney, Abramowitz, That’s, Vavreck, Trump’s, —, ” Vavreck, Mark Muro, Muro, Brookings, Elon Musk, ” Muro, NORC Organizations: CNN, Trump, Emory University, GOP, Biden, Republican, UCLA, Daily, Rural Studies, Michigan, White, Colorado and, Brookings Metro, Republicans, Democratic, Truman, Elon, Edison Research, Associated Press Locations: nation’s, nonmetropolitan, Nevada, Pennsylvania, Wisconsin, Iowa, Ohio, Colorado, Colorado and Virginia, Trump, Hillsborough, Tampa, Tarrant, Fort Worth, Maricopa, Phoenix

☆ Rivian-Volkswagen joint venture up deal to $5.8 billion, VW cars expected as early as 2027
▼ + stars: | 2024-11-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Rivian Automotive and Volkswagen Group have released details of their previously announced joint venture ahead of the operations launching Wednesday. The name of the joint venture, which was expected to close during the fourth quarter, is "Rivian and VW Group Technology, LLC." At the closing of the joint venture, VW will invest about $1.3 billion "as consideration for background IP licenses and a 50% equity stake in the joint venture." The joint venture will be headed by Rivian Chief Software Officer Wassym Bensaid and VW Group Chief Technical Engineer Carsten Helbing. The companies said developers and software engineers from both companies will join the joint venture.

Persons: Oliver Blume, RJ Scaringe, We're, Rivian, Scaringe, Wassym, Carsten Helbing Organizations: Volkswagen Group, Rivian Automotive, VW, Volkswagen, VW Group Technology, Rivian, VW Group Locations: Rivian, Normal , Illinois, Georgia, Palo Alto , California, North America, Europe

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