Bob Iger’s return as CEO of The Walt Disney Company has Jim Cramer bullish on the Mouse House, but critics of the CNBC investment maven say that’s as good a reason as any to bet that the stock price is going to fall. “Disney, pay 98 if you can. That…
Amazon employees can expect the current round of layoffs to continue into 2023, CEO Andrew Jassy said in a memo to workers. The elimination of some 10,000 positions, or 3% of Amazon’s workforce, began this week, but the culling will extend into early next year, Jassy said. He describing the…
Shoppers will find fewer discounts on everything from toys to tortillas as companies increasingly set minimum prices on their goods to maintain profits and limit price cutting by retailers like Walmart and Amazon. For many years, manufacturers set the lowest price at which retailers could advertise certain big-ticket items like TVs. They…
Retailers are poised to push smaller and less expensive toys this holiday season — a bid to tempt skittish shoppers as inflation hikes prices for everything from gas to groceries. MGA Entertainment, maker of LOL Surprise and Bratz dolls, is launching more than 200 new toys that are priced at…
CNBC’s Jim Cramer called for the firing of Disney CEO Bob Chapek after the Mouse House turned in dismal fourth quarter earnings earlier this week. “Disney, they have ESPN. If we were on ESPN, we would say he’s got to be fired. That’s pretty cut and dry,” Cramer said on…
Walt Disney said Tuesday its marquee streaming service, Disney+, gained more subscribers than Wall Street had expected, but investment costs dragged quarterly earnings below analysts’ targets. Shares in Disney fell 5% in after-market trading. The entertainment company is spending billions to compete with Netflix and others for streaming television customers as traditional TV declines in popularity. Disney+…
More than 200 Gannett staffers are staging a day-long strike on Friday as they demand better wages and benefits — a fresh burst of unrest following recent layoffs at the newspaper giant. The NewsGuild, which represents staffers at Gannett — which owns USA Today and a slew of local papers…
The one-time tech visionary who invented Snapchat’s disappearing-photos feature vanished from the public eye after a nasty legal battle with his co-founders — and has since been accused of running amok in a swanky gated community, The Post has learned. Reggie Brown, who co-founded Snapchat with Evan Spiegel and Bobby…
Some of Wall Street’s top CEOs spent the last week on a diplomatic mission to Saudi Arabia. It wasn’t touted as diplomacy, of course. The financiers who attended the Future Investment Initiative in Saudi Arabia, known as “Davos in the Desert,” are a well-scripted bunch who prefer to keep their…
A substantial plunge in US home prices is likely “just beginning” as decades-high mortgage rates cause a downturn in the housing market, a prominent economist cautioned Friday. The warning from Pantheon Macroeconomics chief economist Ian Shepherdson followed more dismal data that showed a slowdown in housing activity. Pending home sales…
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