Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Did Disney just appoint Bob Iger’s successor?

Published

on

In a strategic move aimed at bolstering its financial leadership, Disney has announced the hiring of a seasoned executive from PepsiCo as its new Chief Financial Officer (CFO).

This decision comes as Disney’s former CEO, Bob Iger, faces increasing pressure from activist investor Nelson Peltz’s hedge fund, which has been pushing for changes within the entertainment conglomerate.

The newly appointed CFO, Sarah Johnson, brings a wealth of experience from her previous role as Vice President of Finance at PepsiCo, where she played a pivotal role in managing the company’s financial operations. Johnson’s expertise in finance and her proven track record in a global consumer goods giant like PepsiCo make her a valuable addition to Disney’s leadership team.

The move is seen as Disney’s response to the mounting challenges it faces, including a shifting media landscape, streaming wars, and the ongoing impact of the COVID-19 pandemic on its theme park and entertainment businesses.

With Nelson Peltz’s hedge fund exerting pressure on Disney to enhance shareholder value, the appointment of Sarah Johnson as CFO is expected to signal a renewed focus on financial performance and strategic decision-making within the company.

As Disney navigates these complex waters, shareholders and industry observers are left wondering whether this new addition to the executive team will be enough to appease the hedge fund’s demands and secure the company’s future growth.

Continue Reading

Money

Big Tech pushes AI investments

Published

on

Tech giants like Microsoft and Meta are accelerating AI data center spending, with massive capital pouring into these projects.

Microsoft and Meta reported on Wednesday that AI investments are spiking their expenses, while Alphabet announced similar trends.

Amazon, due to report earnings shortly, is expected to mirror these projections, foreseeing further pressure on profit margins.

Wall Street is getting wary of the financial strain, as each company’s stock took a hit this week despite strong quarterly numbers.

Shares of Meta fell over 3%, and Microsoft saw a 6% drop, underscoring Wall Street’s jitters.

“It’s expensive to keep up with AI technology demands,” says GlobalData’s Beatriz Valle, emphasising a competitive race in AI capacity.

The high-stakes investments are starting to test investor patience in Big Tech’s ambitious AI journey.

Continue Reading

Money

Meta expects strong holiday ad revenue boost

Published

on

Meta’s holiday-quarter forecast beats expectations as AI tools drive growth

Meta Platforms, parent company of Facebook, has forecast holiday-quarter revenue that surpasses market expectations, anticipating a surge in ad spending as the year ends.

The projection comes as Meta’s AI-driven advertising tools and short-form video feature Reels have spurred revenue growth this year.

Meta’s shares dipped 2.5% in after-hours trading, despite a third-quarter profit of $6.03 per share—well above analysts’ forecast of $5.25.

Analysts expect digital ads to have a “blockbuster” year in 2024, helped by improved economic forecasts and steady consumer spending.

Meta, heavily reliant on advertising revenue, stands to benefit from increased holiday marketing as it eyes revenues of $45 to $48 billion this quarter.

The company’s third-quarter revenue reached $40.59 billion, narrowly topping analysts’ estimates.

With interest rates easing, analysts suggest Meta’s ad revenue could continue to thrive into the new year.

As holiday spending ramps up, Meta’s AI investments are paying off.

Continue Reading

Money

Microsoft CEO Satya Nadella receives $30 million pay raise

Published

on

Despite layoffs, Nadella’s pay jumps 63% amid company growth

Microsoft’s CEO, Satya Nadella, saw a significant 63% pay raise this year, with his total compensation rising to $71 million, up from $48.5 million in 2023. This comes even as Microsoft laid off 2,500 employees, including job cuts in its gaming division, following its $69 billion acquisition of Activision Blizzard.

While concerns were raised in Congress over cybersecurity breaches, Microsoft’s stock still rose by over 16% this year, benefiting investors, although it lags behind the broader S&P 500. Investors are now eagerly awaiting the company’s earnings report next week.

Continue Reading

Trending Now