Shares of Disney (DIS) were down more than 3% following reports that the company could announce the purchase of rival Fox Studio assets as soon as next week. The assets in question could be worth up to $60 billion, according to CNBC.
Shares of Regal Entertainment (RGC) spiked nearly 10% Tuesday after the company agreed to be purchased by U.K. theater company Cineworld Group for $3.6 billion.Regal, which is the country's second-largest theater company, is now foreign-owned just like the country's top theater company, AMC (AMC) .
Shares of Dish Network (DISH) were up slightly Tuesday after the company announced that CEO Charlie Ergen will be stepping down from the position to devote more of his time to the company's emerging wireless business. Dish promoted current President and Chief Operating office Erik Carlson.
Shares of Snap Inc. (SNAP) climbed more than 9% Tuesday after receiving bullish notes from both Jefferies and Barclays this week. Jefferies raised its recommendation on the company to "buy" from "hold" following a similar endorsement from Barclays Monday. Barclays also increased Snap's price target to $18 per share from $11 per share.
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