Washington and the world talking, microsoft eyeing an acquisition of tiktok and is this comes after President Trump threatened to ban the app in the u. S. Over security concerns. The president made an about face and gave microsoft the go ahead to proceed with the deal josh lipton has the very latest. So, melissa, President Trump also weighing in here. Take a listen to what he had to say today. It will close down on september 15th unless microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so the treasury of the, really, the treasury, i guess you would say, of the United States gets a lot of money so, why is microsoft interested in tiktok well, its a wildly popular app with 100 million users already here in the u. S. Engagement trends are strong analysts note that users already spend over an hour a day on the app. Patrick moorhead emphasizes two broad reasons why this could make strategic sense one, he argues microsoft is relatively week in Consumer Ser
Twitter shares soaring on a rumor the company is looking to build a Subscription Service a source close to the situation tells me that a Subscription Service is one of many Revenue Generating options that twitter is considering, but that no announcement in that area is imminent Ceo Jack Dorsey has said hes kicked around the idea of creating a subscription tier and twitter management has talked about building new revenue stream the focus on new ways twitter could make money as tiktok opens a new platform senator tom cotton warned americans against use ticktock. Secretary of state mike pompeo said late monday that the United States was looking at banning chinese social media apps including ticktock. Ticktock responded to pompeo by pointing to the companys new american ceo, former disney executive kevin mayer, saying we have never provided user data to the Chinese Government nor would we do so if asked. I want to go to dan nathan first. As i recall, dan, you had fast pitched twitter back
Julia . Thats right. Disney cfo christine mckarther announced disney will be sustaining the dividend which will preserve 1. 6 billion in cash and this comes as the Company Announces that covid19 cost disney 1. 4 billion to its bottom line in the quarter and that includes a hit to advertising, movie delays and think, most of all, the closure of disneys parks. The disney parks alone had an operating income loss of 1 billion in the quarter due to covid driving a 58 drop in operating income now heres what the new ceo says about the plan that he Just Announced to reopen disney shanghai on may 11th take a listen. The approach we take may include implementation of density control measures as well as health and prevention procedures that comply with state and federal guidelines we are seeing encouraging signs of a gradual return for some semblance of normalcy in china the company talking about how before it began to close its domestic parks in midmarch they had been seeing an increase in both
Its a good discussion for you guys to pick up. Be well, thank you very much. Welcome, everybody, to an important show tonight im Brian Sullivan the Virus Outbreak rattling nerves thats a live look outside thes that zach. Normally at is this time, times square would be packed with tourists, theater goers, commuters right now it is eerily quiet. The president saying the virus could stick around until late summer the impact being felt from main street to wall street. The dow ending the day down roughly 13 . An incredible 3,000 point drop by far, the biggest point drop ever apple down 12 microsoft lost 14 today every s p 500 sector finished deep in the red, perhaps the most incredible move of all, bogue down 23 pshs, to 129. Boeing was a nearly 400 stock just a few months ago. The selloff comes despite unprecedented action for the Federal Reserve, which did little to ease peoples concerns we have full Team Coverage for you tonight. Lets kick things off with bob pisani, who again is on the
S p up by 3 and the nasdaq up by 13 in germany, they are closed for a National Holiday the ftse is down about a third of a percentage point. Youll see this morning, the 10year is yielding 1. 582 the twoyear down 1. 47 . Breaking news. Taking place overnight lamb indicating a new plan that will invoke a power law. The city will ban masks protesters have used to protect themselves from tear gas or to hide their identities. All of this happening within the last several hours pepsi co coming in better than expected. Revenue coming in up organic Revenue Growth and pepsico expects to meet or exceed Revenue Growth. It looks like better than expected across the board. Some of these have such nice multiples. They keep doing it in manufacturing and other areas. Dont want it to be like days of general electric. Remember when coke was 40 or 50 times . Pepsi is trading at 4. 85 times. Price to earnings ratio of four times. Thinking about your story there about the masks. Well have a guest on later