President Trump Sues NYT, Oracle Climbs, Webtoon Partners with Disney
On this episode of Stock Movers:
- President Donald Trump filed a $15 billion defamation lawsuit against The New York Times (NYT) accusing the paper of serving as a “mouthpiece” for the Democrats. The New York Times said in a statement that the lawsuit “has no merit” and “is an attempt to stifle and discourage independent reporting”. The lawsuit cites the Times’ news and opinion articles, as well as a book written by two of the paper’s reporters, as part of a “decades-long pattern” of intentional and malicious defamation against President Trump.
- Oracle (ORCL) shares extended their climb in premarket trading to as much as 5.7% after CBS News reported that the software giant is among a consortium of firms that would enable TikTok to continue operations in the US if a framework deal is finalized. Structure of the final deal is unclear but will include multiple companies, CBS News reports, citing unidentified people with knowledge of the negotiations.
-Shares of Webtoon Entertainment Inc (WBTN) rose sharply in pre-market trading after announcing a partnership with The Walt Disney company to build a digital comics platform that will bring together decades of Marvel, Star Wars, Pixar and Disney titles.
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