Regal Entertainment may be purchased, Autodesk cuts staff, the force isn’t strong with Electronic Arts
Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.
Regal Entertainment (RGC) is in the spotlight. British theater operator Cineworld is in talks to buy its US peer, Regal, for just over $3B. The combined company would be better positioned to compete with industry leader AMC (AMC).
Pink slips are being handed out at Autodesk (ADSK). The software maker is cutting over a thousand jobs or about 13% of its workforce. The move comes as Autodesk focuses on selling products on a subscription basis instead of charging upfront.
The force is not with Electronic Arts (EA). The maker of Star Wars Battlefront lost $3B in stock market value following a fan uproar over its in-game purchases for the new game. EA has temporarily pulled these micro-transactions, which typically generate hundreds of millions of dollars in revenue.
Microsoft (MSFT) says it’s revamping its Redmond Washington campus to make room for 8,000 new employees. The new buildings will open in five to seven years.
There’s more bad news for Uber. According to Reuters, the ride hailing service lost $1.5B last quarter, 400 million more than the previous quarter. There were some bright spots. Sources say net revenue increased to $2B and bookings rose nearly 12%.
