Rite Aid misses, UK says Disney must bid for Sky, Tesla’s Model Y to reportedly start production in 2019
Here’s a look at some of the companies the Yahoo Finance team will be watching for you.
Rite Aid (RAD) top our list. The drugstore chain just missed on earnings per share and revenue for its fourth quarter. During Q4, Rite Aid completed the sale of nearly 2,000 stores and assets to Walgreens (WBA). It also entered a merger agreement with Albertson’s that will eventually grow RIteAid’s food, health, and wellness offerings.
More complications in the Fox (FOXA)/Disney (DIS) deal. Regulators in the UK now say Disney must offer to buy all of the British TV company Sky if it’s successful in buying Fox’s other assets. Currently, Fox owns a 39% stake in Sky and CEO Rupert Murdoch has entered a bid to acquire the rest of the company. Disney has previously said it doesn’t want to be forced to make a bid for Sky.
Tesla (TSLA) is gearing up to launch the Model Y. Reuters reports SUV production will begin in November 2019. Production in China is expected to begin two years later. In other Tesla news, the company says the driver was to blame in that fatal California crash last month. Tesla defended its autopilot feature, stating the car provided the driver with multiple warnings to pay attention and that the he had an unobstructed view of the barrier he crashed into.
Apple’s (AAPL) music service has a new leader. He is Apple veteran Oliver Schusser. The company says Apple Music now has 48 million subscribers—and most of them are paying customers. That’s way up from the 30 million subscribers Apple reported in September. But Apple has a ways to go before equaling Spotify – which leads the pack with more than 70 million paid subscribers worldwide.
