December 8, 2024

Ferrum College : Iron Blade Online

Complete Canadian News World

5 things to know before the stock market opens on Tuesday, September 12

5 things to know before the stock market opens on Tuesday, September 12

  • Technology stocks led a rebound.
  • Charter and Disney have struck a deal and ended their blackout battle.
  • JM Smucker has agreed to buy Twinkie owner Hostess Brands for $5.6 billion.

Here are the most important news investors need to start their trading day:

CHICAGO, IL – DECEMBER 20: A detailed view of the broadcast camera with the NFL logo and the ESPN Monday Night Football logo on it is seen during a game between the Chicago Bears and Minnesota Vikings on December 20, 2021, at Soldier Field in Chicago. , I. (Photo by Robin Alam/Ikon Sportswire via Getty Images)

Sportswire Icon | Sportswire Icon | Getty Images

Charter Communications and Disney have resolved a power outage battle that lasted more than a week. The two sides reached an agreement in time for millions of rental TV customers to be able to watch “Monday Night Football,” which airs on Disney Channel’s ESPN. As part of this arrangement, Disney’s ad-supported streaming services Disney+ and ESPN+ will be included for customers who purchase certain Spectrum TV packages. For its part, Disney will receive increased subscription fees from the charter, CNBC’s David Faber said Reported for the first time. Giving Charter customers access to Disney’s ad-supported streaming apps appears to be a sticking point in the negotiations, which Charter’s CEO said is different from normal disputes, though this deal will not give that access to all customers.

JPMorgan Chase CEO Jamie Dimon speaks to reporters as he leaves the US Capitol building after an unannounced meeting with US Senate Majority Leader Schumer which was said to be about the possibility of the US defaulting on its debt, outside the US Capitol building in Washington, USA. United, May 17. 2023.

See also  Dolly Parton receives $100 million award for courage and civility from Jeff Bezos and Lauren Sanchez

Evelyn Hochstein | Reuters

The US economy has proven its resilience and defied all expectations of a recession. But JPMorgan Chase CEO Jamie Dimon struck a cautious tone on Monday, warning that it would be a “huge mistake” to think the good times will continue over the long term. “To say that the consumer is strong today, which means you will enjoy a prosperous environment for years, is a huge mistake,” he said at a financial conference in New York. Dimon said his top concerns for the future are “quantitative tightening,” the war in Ukraine, and governments around the world spending “like drunken sailors.” He cited similar concerns about central banks and the conflict in Ukraine last year when he warned that a potential “economic hurricane” was on the way.

Safra Catz, CEO of Oracle, rings the opening bell at the New York Stock Exchange, July 12, 2023.

Brendan McDiarmid | Reuters

Oracle stock fell 9% in extended trading after the company’s fiscal revenue declined in the first quarter. The database software maker’s revenue guidance was also lower than expected, although it beat expectations for earnings per share. Oracle posted revenue of $12.45 billion, compared to the $12.47 billion that analysts had expected, according to LSEG (formerly Refinitiv). Oracle said in its guidance that it expects adjusted net income of $1.30 to $1.34 per share and revenue growth of 5% to 7% in the fiscal second quarter. Analysts surveyed by LSEG were expecting $1.33 in adjusted earnings per share and $13.28 billion in revenue, representing revenue growth of 8%.

See also  Everything you need to know about the SpaceX Falcon 9 launch on Father's Day

Hostess Twinkie Snack Cakes are displayed in a store on July 15, 2013, in Pico Rivera, California.

Kevork Djansizian | Getty Images

The name behind many of the boardwalk’s favorite snacks has a new owner. J.M. Smucker Co., famous for its jelly beans, has bought Twinkie maker Hostess Brands for $5.6 billion, or $34.25 a share. Hostess shareholders will receive $30 in cash and 0.03002 of a Smucker’s share for every Hostess share owned. Smucker will also assume Hostess’s debt of approximately $900 million when the deal closes. It’s just the latest deal in the food space, with Campbell’s Soup recently agreeing to acquire Rao’s pasta sauce owner Sovos Bands for $2.7 billion, M&M’s owner Mars buying Kevin’s Natural Foods, and Unilever acquiring the Yasso yogurt brand. Freezer.

CNBC’s Sarah Min, Tanaya Machel, Lillian Rizzo, Alex Sherman, Hu Soon, Jordan Novitt and Amelia Lucas contributed to this report.

– Follow broader market movement like a pro CNBC forefront.