Media and entertainment stocks led by Netflix were among big losers Thursday as economic data and the latest Fed move has investors panicking about an imminent recession. Netflix in particular — off nearly 10% — was knocked by a report that its ad-supported tier is having a tough debut. … Read entire story.
Source: Deadline
Elon Musk is under federal investigation in connection with his long-aborning deal to buy Twitter, according to multiple credible reports which cite a legal filing today by the social media company. There were no specifics in the document beyond the indication that authorities are probing Musk’s “conduct” … Read entire story.
Source: Deadline
Battered media stocks and major indexes bounced higher Monday, reversing course after opening in the red on the first trading day of the fourth quarter. A correction, however brief, was due. The Nasdaq and the S&P 500 surrendered significant ground for the first three quarters of 2022 – their first such … Read entire story.
Source: Deadline
Media stocks and broader markets swooned Tuesday with all three major indexes posting their worst session since June of 2020 on news that consumer prices last month rose more than expected. The brutal selloff hit tech and media stocks hard with Apple, Roku and Google down about 6%, Amazon and Snap … Read entire story.
Source: Deadline
Spotify said monthly active users rose 18% to 404 million for the fourth quarter of 2021 as premium subscribers hit 183 million and revenue grew 24%. It reported numbers as controversy swirls around Joe Rogan. Founder and CEO Daniel Ek will host a call at 4:30 ET to talk numbers and address if he … Read entire story.
Source: Deadline