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Walt Disney Co.’s ABC network said on Wednesday it has expanded its deal with the Academy of Motion Picture Arts and Sciences to broadcast the Oscars through 2028. That adds eight years to ABC’s existing contract. The most recent 88th annual Academy Awards garnered 34.425 million total viewers, per Nielsen’s same-day ratings, which was down from the previous year’s 37.257 million viewers and the smallest audience since ABC’s 2008 broadcast. The 89th Academy Awards will be televised Feb. 26 at the Dolby Theatre in Hollywood. A host for the show has not been decided.

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From:: Stock Market News

Amazon.com Inc. is in the food business. The online retailer, which also dabbles in film and TV production, said on Wednesday its Prime members in Houston can receive free one-hour delivery from Amazon Restaurant’s partners, which include P.F. Changs, Carraba’s, Max’s Wine Dive and other popular restaurants in the area. And Amazon is guaranteeing customers pay the same price as they would in the restaurant, no menu markups, or Amazon will refund the price of the item.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Genesys said Wednesday it has agreed to acquire Interactive Intelligence Group Inc. in a deal valued at about $1.4 billion. Genesys, an omnichannel software company, said it will pay $60.50 in cash for each share of Interactive Intelligence, a cloud company, equal to a 36% premium over the stock’s closing price on July 28, the trading day before media reports that Interactive Intelligence was considering strategic moves. The deal is expected to close by year end. Genesys said it will finance the deal through a combination of cash on hand and debt. Interactive Intelligence shares were halted premarket for the news, but are up 80% in the year so far, while the S&P 500 has gained 6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Deutsche Bank AG has explored a possible merger with rival German lender Commerzbank AG , Manager Magazin reported on Wednesday, without citing any sources. The German magazine said the merger talks were only theoretical and at a very early stage. It was unclear whether the discussions will be resumed. The publication also said the bank was considering other options to bolster profitability, including a possible reintegration of its Postbank branches that were put up for sale. Deutsche Bank has recently struggled to stay profitable, reporting a 98% slide in profits in the second quarter, hurt by a weak performance in its trading and investment banking units. Its shares plunged to a record low in July after the U.K.’s Brexit vote fueled uncertainty in Europe. Shares of Deutsche Bank were up 1.8% on Wednesday, while Commerzbank rose 4%. Spokesperson from both Deutsche Bank and Commerzbank declined to comment on the report

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Gap Inc. confirmed on Tuesday that a fire Monday night has shut down the company’s distribution center in Fishkill, N.Y. All employees who had been at the facility were safely evacuated, according to the Gap. “While it will take time to understand the full impact and cause of the fire, we have contingency plans in place and are working across our North American network of distribution centers to continue to serve our customers,” Gap spokesperson Debbie Felix said in a statement. Analysts at Wells Fargo say the event creates uncertainty. “[W]e would be concerned that this could create a meaningful bottleneck [given] the upcoming critical holiday season,” Wells Fargo wrote in a brief Tuesday note. “On top of that, this disruption to their supply chain could require incremental shipping, storage and distribution costs, in addition to any write-downs of damaged inventory and the cost of the property damage.” Gap shares are flat in after-hours trading, but closed down 4.3%. Gap stock is down 22.8% for the past year while the S&P 500 Index is up 9.4% for the same period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News