Communications services shares fell as traders rotated out of assets perceived as risky.
Twitter said Friday the window has closed for federal antitrust regulators to block Elon Musk's proposed $44 billion acquisition of the social-media company, removing another barrier to the transaction.
The executive who will succeed Sheryl Sandberg as chief operating officer at Meta Platforms has quietly but steadily amassed power at the Facebook parent by focusing on growth, one of the business objectives most prized by Chief Executive Mark Zuckerberg.
Javier Olivan, 44 years old, will take on a position very different from that carved out by the high-profile Ms. Sandberg.
Mr. Zuckerberg, in naming Mr. Olivan to the new position, said, "It will be a more traditional COO role where Javi will be focused internally and operationally, building on his strong track record of making our execution more efficient and rigorous."
Walt Disney Co. has a tricky math problem on its hands: how to justify paying top dollar to hold on to tens of millions of streaming subscribers in India when those subscribers don't provide much revenue to the company.
The question is front and center for Disney and its shareholders as a June 12 auction for the rights to broadcast and stream Indian Premier League cricket draws near.
If Disney wins, it will likely pay more than twice what the rights sold for in 2017, and the cost per subscriber of the deal is likely to far exceed the low level of revenue that Indian streaming customers produce for the company.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
06-03-22 1701ET
