A new drama is spooking investors of Netflix: the launch of Disney+.
Walt Disney Co.
’s new streaming service locked up 10 million subscribers in its first 24 hours despite a glitch that made Disney+ difficult to watch for several hours. The service’s aggressive debut Tuesday boosted Disney’s shares by 7% the next day and sent Netflix shares down 3.1%. Netflix is still the industry’s dominant streamer, with 158 million subscribers.
Could WeWork be replacing one eccentric leader with another? WeWork has been in talks with T-Mobile Chief Executive
to take over leadership of the troubled office-sharing startup, The Wall Street Journal reported Monday. WeWork’s parent, formally known as We Co., is searching for a CEO who can stabilize the company following the erratic tenure of co-founder
Like Mr. Neumann, Mr. Legere is known for his aggressive, unconventional style. The 61-year-old has turned around T-Mobile’s operations, luring millions of cellphone customers from larger competitors and initiating the pending
takeover. T-Mobile shares fell 1.6% Monday.
U.S. regulators recently considered grounding more than three dozen Southwest jets because the airline couldn’t show that they met all mandatory safety standards, according to government documents. The Journal reported Monday that the carrier indicated in letters to the Federal Aviation Administration that it previously found dozens of problematic repairs on other planes, done before it bought those aircraft. Senior FAA officials permitted the planes to continue carrying passengers once Southwest agreed to accelerate required inspections. Shares fell 0.7% Tuesday.
Alphabet’s Google already knows what you read online. Now it is interested in your medical records. The internet search giant is working with one of the U.S.’s largest health-care systems to collect and crunch the detailed personal-health information of millions of people across 21 states, The Wall Street Journal reported Monday. The initiative, code-named “Project Nightingale,” has sparked a federal inquiry and concern from regulators and lawmakers about whether Google and St. Louis-based Ascension are adequately protecting patient data. Ascension, without notifying patients or doctors, has begun sharing with Google personally identifiable information on millions of patients, including names and dates of birth; lab tests; doctor diagnoses; and medication and hospitalization history. Alphabet shares fell 0.8% Monday.
The Everything Store is losing one of its top-selling brands: Nike. The sneaker giant said late Tuesday it would stop selling its clothes and sneakers directly to
as it has decided to focus on its direct business, though it will continue to seek partnerships with other retailers and platforms. The company agreed in 2017 to sell products to Amazon in exchange for stricter policing of counterfeits and restrictions on unsanctioned sales. Nike itself only sold a relatively small amount of goods on the site and mostly offered down-market items, The Journal reported. Nike shares gained 2% Wednesday.
Walmart provided some early holiday cheer for retailers when it released results showing that sales rose in the most recent quarter. The news alleviated some uncertainty about the resilience of the American shopper heading into a crucial year-end period for the retailing industry. E-commerce sales rose 41% in the U.S. bolstered by online grocery orders as Walmart competed with Amazon.com to be the most convenient shopping option for Americans. In the U.S., Walmart now has more than 3,000 locations where customers can drive up to pick up groceries and more than 1,400 locations that offer home delivery from stores. Still, Walmart shares slipped 0.3%.
Under Armour Inc.
Former executives of Under Armour said they took aggressive measures to keep a winning streak going for the sportswear company. These executives told The Wall Street Journal they borrowed business from future quarters to mask slowing demand, leaned on retailers to take products early and redirected goods intended for its factory stores to off-price chains to book sales in the final days of a quarter. The goal was to extend a 26-quarter streak of 20% sales growth. The company, whose accounting is now under scrutiny by federal investigators, said it is confident in its accounting practices, revenue recognition and investor disclosures. It said it operated within standard industry practices and in compliance with generally accepted accounting principles. Shares rose 3.9% Friday.
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