Stock Market Nerd – Market Headlines – August 17, 2024
Duolingo ($DUOL) is partnering with Sony Music to add more content to its music learning product.
Starbucks ($SBUX) will pay Brain Niccol a $113 million pay package, which includes $75 million in equity. That represents less than 1% of the current market cap.
Google ($GOOGL) debuted its AI-enabled Pixel Phones.
Disney ($DIS) unveiled park expansion plans that will feature new Cars, Monsters Inc, Encanto, Avatar, new Avengers exhibits and expansions and Lion King through 2027. It will also open 4 new cruise lines from 2027-2031, which offers a good hint for how bookings trends are shaping up for current launches. This is Disney’s highest return investment category and it has already telegraphed elevated park investment levels.
Berkshire Hathaway ($BRK.B) exited Snow and started a position in Ulta.
Uber Eats ($UBER) and Serve Robotics ($SERV) will offer autonomous deliveries for Shake Shack.
Mastercard ($MA) will lay off 3% of its workforce.
Mars announced a $30 billion mega-deal to acquire Kellanova ($K).
Next week’s coverage menu will include: Palo Alto, Snowflake, Cava, Workday, Bill.com and Intuit Earnings, as well as so much more. Have a great weekend.
