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90 Second News Issue #32
Good morning, and congrats on making it to the best part of thanksgiving — the sweet, sweet deals of Black Friday!
Yesterday, Disney ($DIS) announced that they’re planning on laying off over 32,000 employees in addition to the 28,000 that were fired in September. This move comes as Disney announced a second consecutive quarterly loss primarily caused by the shutdown of their parks during Covid lockdowns. In their earnings call, the company warned that they were unaware when the parks would be able to be opened again, and that they may have to stop declaring dividends and contributing to pension plans for their employees.
0:30- Bitcoin Bonk
Just as Bitcoin ($BTC) was trading at $19,391 yesterday nearing its all time high of $19,497, the coin crashed down to under $17k showcasing the volatility of the cryptocurrency. Supporters of coin such as Mati Greenspan, founder of Quantum Economics, say that they’re still bullish on the coin and expect a “fresh all time high” before Christmas.
It was leaked yesterday that Salesforce ($CRM) is in “advanced talks” to buy Slack ($WORK) Technologies for over $17bn. If this deal were to go through, it would mark the largest acquisition in SalesForce history. Slack stocks were up big (+37.59%) on the news, hitting a 52 week high of $40.99.
After AstraZeneca’s announcement earlier this week that they had produced a cheap, and easy to make vaccine that was 90% effective, new data found in their report is raising questions. Experts said that the error (dosage quantities in the trial), as well as a quantity of other irregularities and omissions have decreased their confidence in a quick approval by the FDA as it may not achieve the standards required.
1:18- Your move, Hulu
If you haven’t seen The Queen’s Gambit on Netflix yet, 62 million households think you’re missing out. The show set a record on Netflix for the most views in its first 28 days, but it didn’t just stop there. Its influence also caused sales of chess sets to jump more than 75%, and the novel that the series was based off of also re-entered the NYT best sellers list.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
Have any questions, comments, concerns? Email us at team@90SecondNews.info
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