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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

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Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Walt Disney Co’s (NYSE: DIS) Iger Fires Back at Florida Governor Over ‘Anti-Business’ Stance

Walt Disney Co (NYSE: DIS) moves down in pre trading session on Monday, Chief Executive Bob Iger retaliated against Florida Republican Governor Ron DeSantis, calling him “anti-business” for what appeared to be reprisal against Disney for taking a position on legislation.

Despite originally attempting to maintain its neutral stance, Disney came out against Florida’s Parental Rights in Education Act, also known as the “Don’t Say Gay” bill since it forbids students from discussing their sexual orientation and gender identity in the classroom.

Soon after, DeSantis and the Florida legislature took action to remove the company’s virtual sovereignty over a 24,000-acre (9,712-hectare) tract around the Orlando Walt Disney World Resort.

Iger acknowledged that Disney may not have handled its stance on the measure effectively in response to a question at the company’s annual shareholder meeting, but noted that businesses had a right to voice viewpoints. He spoke

Iger stated, “To seek to penalize a firm for exercising a constitutional right, it simply seems absolutely wrong to me.”

Also, he mentioned that 50 million people will visit Disney World this year, and that Disney employs 75,000 people in the state. Iger stated that Disney intends to increase its commitment in Florida by spending $17 billion over the following ten years and adding 13,000 new jobs. The actions appear to be intended only as payback for a stance the corporation took, according to Iger. They also appear to be hostile to Florida.

A bill that gave DeSantis effective power over a board that monitors construction in the special taxing district was supported by Florida lawmakers in February. The governor gave his approval to the legislation and appointed five supervisors to oversee the areas where Disney had exercised a great deal of authority.

Disney has long sought for amendments to restrict the board’s power before the takeover by DeSantis’ picks. On Monday, DeSantis requested an investigation into what he claimed was a last-minute attempt by Disney and the departing board to “usurp the power” of the incoming board from Florida’s inspector general.

DeSantis stated in a letter obtained by Reuters that “these collusive and self-dealing agreements attempt to void the recently approved law, weaken Florida’s legislative process, and violate the will of Floridians.”

A suggestion that Disney provide an annual report detailing its reliance on China for labor, raw materials, finished goods, theme park income, and other factors was rejected by shareholders. A shareholder motion requesting additional details about the company’s charity efforts was also rejected.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on Tuesday as Wall Street's major indices experienced a tumultuous day, driven by Oracle's staggering 12.5%...

Advanced Micro Devices (NASDAQ:AMD) Attempts to Chases Nvidia Corp (NVDA) Valuation by Introducing New AI Chips

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading session as the company recently launched its data center and AI technology event, where it unveiled its long-awaited MI300 processor tailored for AI workloads. Its objective...

Amazon.com (NASDAQ: AMZN) To Face Tough U.K. Antitrust Review on Roomba Acquisition

Shares of Amazon.com, Inc. (NASDAQ: AMZN) inches down in pre trading session on Thursday as the British antitrust officials have begun looking into Amazon's $1.7 billion acquisition of robot vacuum manufacturer iRobot. According to a statement released on Thursday, the...

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