Wall Street weak today but media stocks jumping as deal talk heats up. Plus – some say bitcoin is a bubble, but is that possibly a good thing? And – its batter up for advertisers – can baseball finally top the NFL in the sponsorship game? Catch The Final Round at 3:55 p.m. with Jen Rogers, Myles Udland and Dan Roberts.
Winners and losers
Stocks in the red today include Priceline as it gave current quarter profit guidance that missed estimates, Avis Budget as revenue missed and it issued full-year guidance that disappointed, and Blue Apron – shares of the meal-kit maker dropping to fresh lows as costs from its new fulfillment center in New Jersey eat away at profits.
Stocks in the green today include Etsy as revenue jumped over 21% from a year ago, Valeant as the drugmaker beat on both the top and bottom line (Note – remember when people thought this stock was going to zero?), and Weight Watchers – shares of the dieting company backed by Oprah ballooning to new highs as it beat on both profit and revenue.
Michael Lewis on the markets, and ‘The Undoing Project’
He’s the author of The Big Short and Moneyball. Michael Lewis’ latest book is “The Undoing Project” out in paperback now, and he joins us now.