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By Staff Reporters
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- Markets: It’ll be a short but stuffed Turkey Day week for investors. In the lead-up to Thanksgiving, when markets will close, we’ll get another batch of earnings reports and minutes from the previous Fed meeting. Traders will have to clock in on Black Friday for a half day.
- Stock spotlight: The e-scooter rental company Bird is probably grateful that FTX’s implosion is stealing the spotlight from its own collapse. Last week, the company said it overstated revenue for more than two years and is warning it could go bankrupt if things don’t turn around. Currently a penny stock, Bird will be de-listed by the NYSE if its share price doesn’t rise above $1 by the end of the year.
- Disney just announced that former CEO Bob Iger would return to his role atop the entertainment giant, replacing his successor Bob Chapek, who’s been CEO for less than three years. After leading the company for 15 years, Iger handed over the reins to Chapek in February 2020. It was an unexpected choice, given that streaming boss Kevin Mayer was seen as a more likely heir to the Disney throne than Chapek, who led the parks and entertainment division. But Iger had reportedly handpicked Chapek as his successor, and repeatedly said he was satisfied with being retired. “I can’t think of a better person to succeed me in this role,” Iger said in March 2020.
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Filed under: Alerts Sign-Up, Alternative Investments, Industry Indignation Index, Investing, LifeStyle | Tagged: Bob Chapek, Bob Iger, DAILY UPDATE: Did the Markets Give Disney the Bird?, Disney, FTX, stock markets, stocks | Leave a comment »
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