Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
Shares of the Walt Disney Company fell after the company said in its third-quarter report that issues at ESPN impacted operating income for its cable business.
The segment saw operating income decline 23 percent year over year amid trouble at ESPN, Disney said in a statement. The sports network was plagued by higher programming costs and lower advertising revenue, as well as severance and contract termination costs.
On Wednesday, the stock closed nearly 4 percent lower at $102.83. It was the stock's worst day since May 2016, when it fell 4.04 percent.
CEO Bob Iger has repeatedly defended the business, previously telling CNBC that the company is "confident in ESPN's future" and believes "live sports is still a huge driver of consumption."
The broader media and networks segment also reported operating income that missed Wall Street projections.
Here's what Disney reported as operating income for each segment, compared with analysts' expectations, according to StreetAccount consensus estimates:
The company also announced that it will no longer stream its movies on Netflix starting in 2019. Disney instead plans to launch in 2019 a direct-to-consumer streaming service, which will host its films exclusively.
In a Tuesday interview with CNBC's Julia Boorstin on "Closing Bell," Iger said that Disney has "no plans" to pull Marvel shows from Netflix. The CEO added that the Disney and Netflix have a "good relationship." Iger also said that Disney may decide to license other content to the streaming giant in the future.
During the third quarter, the Disney also celebrated the first anniversary of Shanghai Disney Resort. The company said in June more than 11 million people visited the park in its first year of operation.
Disney said that Shanghai Disney Resort and Disneyland Paris contributed to the 18 percent year-over-year growth in its theme park business.
Here's how the company's broader results compare to what Wall Street expected:
In the year-ago period, Disney reported adjusted earnings of $1.62 per share on $14.28 billion in revenue.
In March, Disney's board announced it was extending Iger's contract to July 2, 2019. The company has not yet named a successor for him.
When CNBC asked the Disney CEO if he'd run for office, Iger said he hasn't thought much about what he will do when he leaves the company.