The Walt Disney Co. said it plans to cut marketing and content budgets after the company reported weaker-than-expected fourth-quarter earnings on Tuesday, the result of larger losses in its streaming business that offset strong performance in its theme parks. “We are actively evaluating our cost base at the moment,” Christine McCarthy, Disney’s chief financial officer, … Read more
Lyft Inc.’s LIFT 2.91% the stock fell in off-hours trading after it said its revenue growth slowed and the number of people using its service remained below pre-pandemic levels, rising at a slower-than-expected pace. The company reported revenue of $1.05 billion for the three months to September. That’s 22% over a year earlier, the slowest … Read more
A version of this story appeared in Pop Life Chronicles, CNN’s weekly entertainment newsletter. To get it in your inbox, register for free here. CNN — Change is good, right? I’ve considered mixing it up when it comes to this newsletter, but I want to hear from you. What would you like to read about? … Read more
CNN — Drake’s latest album includes jabs at several other artists and public figures – and some have their own choice words for the Canadian rapper. Drake released “Her Loss,” a 16-track collaboration with 21 Savage, on Friday. On one song, “Circo Loco”, he seems to imply that Megan Thee Stallion’s claims that she was … Read more
Despite a long streak of strong profits, shale companies are slowing their oilfield activity, keeping U.S. oil output roughly flat and offering little relief for tight global markets. What was expected to be a banner year for U.S. oil production has not materialized as creeping inflation-related costs, supply chain snarls and disappointing well performance for … Read more
New York CNN Business — MoviePass’ former CEO and the head of its former parent company have been indicted on securities fraud charges for defrauding investors over the sustainability and profitability of the company’s movie-a-day subscription model, according to a Justice Department announcement Friday. J. Mitchell Lowe, former CEO of the movie ticket subscription service, … Read more
CNN — “Stranger Things” superfans can now live in the same house where Season 4 villain Vecna first developed his supernatural powers, if they dare. Warning: “Stranger Things” Season 4 spoilers ahead. Vecna, the antagonist in Season 4 of Netflix’s hit series “Stranger Things,” started out as an ordinary boy named Henry Creel. The series … Read more
CNN — More than a few people have said they left Twitter after Elon Musk bought the company, but his former girlfriend, Amber Heard, appears to have actually split with the social media platform. Her handle, @RealAmberHeard, is no longer listed. She announced via her verified Facebook page on April 10, 2017, “I’m now live … Read more
HBO pulls the plug on its futuristic drama “Westworld.”
Hershey co. HSY -1.32% raised its guidance for the year after reporting a 13% rise in third-quarter sales on higher-than-expected demand for its snacks and sweets despite rising prices. The maker of Reese’s peanut butter cups and Twizzlers candy said Friday that higher prices helped it offset higher supply chain costs and advertising spending, the … Read more