Yahoo Finance CBS posts big quarter, Facebook eyes crypto, Sinclair wins bid
Here are the companies Yahoo Finance is watching today.
A big quarter at CBS (CBS). The entertainment giant reported its best ever quarterly revenue thanks to strong ad sales around the Super Bowl and increases in affiliate and subscription fees. Acting CEO Joseph Ianello has been running the business since the ouster of Les Moonves last year.
Facebook (FB) is reportedly looking to go crypto. The Wall Street Journal says the social network has been talking with financial firms like Visa and Mastercard, as well as online merchants, in hopes of launching a crypto-based payment platform.
Sinclair (SBGI) has reportedly won the bidding for those 21 regional sports networks that Disney (DIS) acquired from Fox (FOX). The price tag could top $10 billion, far less than many analysts expected. Disney agreed to sell the networks to get around anti-trust concerns over the purchase of Fox's entertainment assets.
Move over Apple (AAPL). Huawei is now the second biggest smartphone maker, pushing the Cupertino company down to number three. Apple's struggling sales in China helped Huawei take the number two spot. Huawei now has its sights on Samsung to have bragging rights as the top smartphone seller.
Even the Oracle of Omaha is making good on past mistakes. Warren Buffett says that Berkshire Hathaway (BRK-A) now owns a stake in Amazon (AMZN). He mentioned that he regrets not buying the stock sooner. Buffett praises Amazon CEO Jeff Bezos on the work he's done and said, “I had a very, very, very high opinion of Jeff’s ability when I first met him, and I underestimated him.”
