The Walt Disney Co.’s shares closed Wednesday at their lowest price since before the House of Mouse began releasing “Star Wars” films, as a massive 2022 decline wiped away all their pandemic-era gains and a bit more. Disney DIS, -2.55% stock closed 2.6% lower Wednesday at $84.16, the second worst performance of the day for … Read more
During the boom in blank-check companies, their creators couldn’t launch them fast enough. Now they are rushing to liquidate their creations before the end of the year, marking an ugly conclusion to the SPAC frenzy. With few prospects for deals soon and a surprise tax bill looming next year, special-purpose acquisition companies are closing at … Read more
Elon Musk ‘s immense wealth and borrowing power are now being tested as the Tesla Inc. TSLA -1.76% shares that have fueled his fortune have sharply declined while he rushes to stabilize his massive personal investment in Twitter Inc. The auto maker’s share value has nosedived 18% this week alone and more than 60% since … Read more
Elon Musk pledged to pause selling shares in Tesla Inc. TSLA -8.88% and said that a decision on a buyback of the company’s stock could be influenced by the severity of any economic downturn as he tried to ease concerns his purchase of Twitter was to the detriment of the electric-vehicle maker. Mr. Musk, on a … Read more
After years of wrong-way bets, investors shorting the shares of Elon Musk ‘s electric-vehicle maker are sitting on collective gains of $15 billion in 2022, according to data from S3 Partners. Short sellers borrow shares and sell them with the hope of profiting by buying the stock back at a lower price later. Tesla shares … Read more
Justin Bieber is close to a deal to sell his music rights to Blackstone Inc. BX 3.45% -backed Hipgnosis Songs Capital in a transaction valued at around $200 million, according to people familiar with the matter. The potential deal includes the pop star’s interest in both his publishing and recorded music catalog, the people say, … Read more
Tesla Inc. shares Friday wrapped up their worst week since 2020, as Chief Executive Elon Musk sold billions in stock and faced a call from a prominent investor to step down from the helm of the electric-vehicle maker. Tesla TSLA, -4.72% stock fell 4.7% Friday for a weekly decline of 16.1%, the fourth-worst week in … Read more
Amgen Inc. AMGN -2.42% is in advanced talks to buy drug company Horizon Therapeutics HZNP 0.39% PLC, according to people familiar with the matter, in a takeover likely to be valued at well over $20 billion and mark the largest healthcare merger of the year. The U.S. biotechnology company was the last of three suitors … Read more
“Breaking Twitter” is expected to be published next fall by Grand Central Publishing, a unit of Lagardère MMB 0.86% SCA’s Hachette Book Group. The deal is the latest example of how quickly books about current events—from the 2021 saga with GameStop to the 2018 Thai boys cave rescue—are pitched and sold in recent years. That … Read more
Delta Air Lines Inc. DAL 0.93% is offering pilots raises amounting to at least 34% over the term of a proposed deal, another sign of how pilots are pushing the now-booming airline industry for better pay and other benefits. The proposal still needs to be approved by union leaders and then would have to be … Read more