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Hereâs whatâs making a buzz today after a busy Veteranâs Day weekend.
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Market Update
Wall Street's main indexes were under pressure in early afternoon trading on Monday after GE shares hit their lowest in five years and investors fretted over the future of the U.S. tax reform plan.
Investors are closely tracking developments around the tax bill after Senate Republicans last week unveiled a new plan that differed from the House of Representatives' version.
The Dow Jones Industrial Average was up 21.8 points, or 0.09 percent, at 23,444.01, the S&P 500 was up 2.15 points, or 0.08 percent, at 2,584.45 and the Nasdaq Composite was up 5.44 points, or 0.08 percent, at 6,756.38.
Eight of the 11 major S&P indexes were higher, led by defensive utilities and consumer staples stocks.
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ESPN brings SportsCenter show to Snapchat
U.S. sports broadcaster ESPN launched its flagship SportsCenter program on messaging app Snapchat on Monday, reimagining the show that provides sports highlights and commentary into a short-form series.
The new show deepens the relationship between ESPN parent Walt Disney Co and Snapchat parent Snap Inc.
The sports network, which has made Snapchat content since 2015, is trying to reach a younger audience, while the social media app, whose messages disappear after viewing, is adding more content in an effort to grow its user base beyond its core youth demographic.
The partnership is a two-year deal and Snap and ESPN will share revenues, Snap said, though it declined to give specifics.
Sean Mills, Snapâs head of content programming, said SportsCenter helps round out the appâs stable of daily shows, which already includes news shows from CNN and NBC News, as well as an entertainment show called âThe Rundownâ from E! Network.
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Lyft takes Uber challenge north to Canada
US ride-sharing startup Lyft said Monday it is launching next month in Toronto, the first city in what is expected to be an international expansion for the Uber rival.
"Our passports are packed and we're crossing the border. Before you know it, Lyft will be coming to you live in Toronto," a blog from the California company said announcing its plans for the Canadian city.
"We've been looking forward to taking our brand of ride-sharing international for some time, and we're super pumped to share this with our close friends up north."
No specific launch date was announced but Lyft said it "will be around to help ring in the holidays," presumably before Christmas.
Lyft announced last month a $1 billion investment led by the venture arm of Google parent Alphabet, to help ramp up its challenge to market leader Uber.
Lyft said the new funding gives it a valuation of $11 billion as it steps up competition against Uber, which is reeling from a series of missteps and scandals which have forced out its founder and chief executive.
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Walmart Launches Officially Licensed Online Military Showcase
On this Veterans Day weekend, Walmart WMT launched a curated showcase where customers can shop to salute the nationâs military, veterans and their families.
Offered through Walmart.comâs marketplace, this new showcase features an assortment of officially licensed products across all five branches of the U.S. Armed Forces.
âAs a 31-year U.S. Army veteran Iâm proud to wear my Army gear, and Iâm thrilled that Walmart is providing a way for all of us to shop for officially licensed military merchandise with confidence and convenience,â said retired Brigadier General Gary Profit, Walmartâs senior director of military programs.
Since Memorial Day 2013, Walmart has hired more than 188,000 veterans and promoted more than 26,000 to roles of greater responsibility. The company has a goal of hiring goal of 250,000 veterans by 2020, and appears well on its way to reach this goal.
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Qualcomm Could Reject $103 billion Broadcom Bid
The acquisition excitement may be short lived on speculation Qualcomm Inc QCOM may be preparing to reject competitor Broadcom Ltd's AVGO $103 billion bid as early as this week, setting the stage for one of the biggest-ever takeover battles.
Qualcomm's board of directors could meet early this week to review the unsolicited acquisition offer and decide on its strategy. The preparations for the board meeting indicate that Qualcomm is poised to reject the bid as insufficient this week.
Qualcomm Chief Executive Steven Mollenkopf has spent the past few days soliciting feedback from Qualcomm shareholders, and feels that Qualcomm's $70-per-share bid undervalues the company and does not price in the uncertainty associated with getting the deal approved by regulators.
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