Disney’s earnings are hurt by costs at Disney+

Disney’s earnings are hurt by costs at Disney+

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

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. Mr. Zuckerberg appeared dejected at Tuesday’s meeting, saying he was responsible for the company’s missteps and that his overoptimism about growth had led to overstaffing, according to people familiar with the meeting. Meta’s chief human … Read more

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. The upcoming layoffs are expected to amount to many thousands of employees and are likely to be the largest of the year so far in the tech sector, The Wall Street Journal previously reported. Mr. … Read more

Kohl’s CEO Michelle Gass is stepping down to join Levi Strauss

Kohl’s CEO Michelle Gass is stepping down to join Levi Strauss

Kohl’s corp. KSS 10.88% CEO Michelle Gass is leaving the department store chain early next month to join Levi Strauss LEVI -2.05% & Co. with plans to have her take over as the jeans maker’s CEO. At Kohl’s, Ms. Gass has been under attack from activist investors because of falling sales and a steep decline … Read more

Tyson Foods CFO arrested after authorities say he fell asleep in the wrong home

Tyson Foods CFO arrested after authorities say he fell asleep in the wrong home

John R. Tyson, Tyson Foods Inc.’s TSN -0.07% chief financial officer and son of the meat giant’s chairman, was arrested over the weekend after authorities said he fell asleep in the wrong house. Mr. Tyson, 32 years old, was found asleep in a woman’s bed at her home in Fayetteville, Ark., on Sunday morning, according … Read more

Democrats are developing Elon Musk Derangement Syndrome

Democrats are developing Elon Musk Derangement Syndrome

Liberals have tried to draw parallels between Elon Musk and Donald Trump, perhaps to justify their acquired distaste for the Tesla and the new Twitter boss. But the most important thing the two provocateurs have in common is that they both drive the left wing into hysterical fits. When President Biden warned in a dark … Read more

Former MoviePass executives charged in securities fraud case

Former MoviePass executives charged in securities fraud case

MoviePass, a Netflix-like subscription service for movie theaters, made a splash in 2017 when it debuted. Photo: Andrew Harrer/Bloomberg News Updated November 5, 2022 at 7:30 PM ET Former executives at MoviePass and its predecessor The parent company was indicted in a securities fraud case, accused of defrauding investors, the Justice Department said Friday. Former … Read more

Peloton’s quarterly sales are down again, but losses are narrowing

Peloton’s quarterly sales are down again, but losses are narrowing

Peloton Interactive Inc. PTON 8.23% reported a steeper-than-expected 23% drop in quarterly sales, and executives said the company needs to stop burning cash before it can fully focus on growing the business. The maker of connected fitness equipment estimated sales for the current quarter, which includes the crucial Christmas season, could be about 37% lower … Read more

Supply-Chain Tech Provider Project44 Delays Potential Public Offering

Supply-Chain Tech Provider Project44 Delays Potential Public Offering

Supply chain technology provider project44 has postponed plans for a possible public offering amid uncertainty in markets, and is instead turning to more venture capital investments to expand its company’s tracking of goods through global transportation networks. Chicago-based project44, one of a number of supply chain software startups that have drawn billions of dollars in … Read more

Roku Shares Tumble as Streaming Device Giant Warns of Tough Holiday Season

Roku Shares Tumble as Streaming Device Giant Warns of Tough Holiday Season

Year Inc. YEAR -4.35% said it expected revenue from its two main business drivers — advertising and streaming hardware sales — to fall in the fourth quarter as macroeconomic conditions pressured both consumers and advertisers to reduce their spending, sending the company’s shares down 18% in trading after working hours. Chief Executive Anthony Wood told … Read more