Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
The latest downward revision comes from Loup Ventures co-founder Gene Munster, who says Tesla will likely fall short of delivery expectations.Investingread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Appaloosa's David Tepper has discussed returning the hedge fund's capital to investors and converting it to a family office.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
With Tesla shares skidding, two experts weigh in on what could be next for the automaker and its volatile stock.Trading Nationread more
U.S. tariffs on Chinese goods are hurting an unintended target as the trade war with China rages, an International Monetary Fund study finds.Marketsread more
Papa John's founder John Schnatter has been selling his shares in the company but remains its largest shareholder.Restaurantsread more
First-time claims for state unemployment benefits were expected to total 215,000 for the most recent week, up slightly from the 212,000 claims reported for the previous week.Economyread more
Secretary of State Mike Pompeo tells CNBC the Trump administration has taken measures to prevent oil prices from spiking in the wake of renewed sanctions on Iran.Energyread more
The media giant on Thursday announced its much-anticipated streaming platform Disney+, which will be rolled out on Nov. 12. Disney Chairman and CEO Bob Iger claimed its company's brand name gives it an edge over rival streaming service Netflix, which he said is "still" building its brand. Disney's stock surged as high as 12% on Friday, on pace for its best day since May 2009. Netflix shares fell Friday.
However, some analysts covering the streaming space are doubtful of Disney+'s ability to disrupt Netflix's dominant position, saying its family focused content offering lacks quality and quantity compared with Netflix's.
"We do not view Disney+ as a strong alternative to Netflix," Suntrust tech analyst Matthew Thornton said in a note Friday. "Bottom-line, Disney+ features family content, while Netflix offers a much broader range of content with the majority of the most-searched content on the platform."
J.P. Morgan analyst Doug Anmuth also said Disney+ doesn't pose a threat to Netflix.
"While we expect Disney+ will likely be the most competitive streaming offering to Netflix, we still do not view it as a major threat to Netflix subscriber numbers given Netflix's quality & quantity of content, along with the global secular shift toward streaming," Anmuth said in a note to clients Friday.
Disney is entering an increasingly competitive streaming war with rivals Netflix, Hulu and Amazon fighting for market share while various media companies such as Apple and NBC jump on the streaming bandwagon. Disney expects to ramp up its original content with a $1 billion investment in 2020 and $2 billion by 2024.
The company is also expected to reach between 60 million and 90 million subscribers by the end of 2024. One-third of those subscribers will be domestic and two-thirds will be international, the company said.
Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.