Media company Walt Disney Co (DIS.N) on Tuesday posted record profit in the June quarter, but its revenue missed Wall Street expectations for the first time in two years and its shares fell more than 2 percent in extended trading.
Walt Disney Co. DIS 0.47 % said its earnings rose a better-than-expected 11% during the quarter ended in June, boosted in part because of the latest “Avengers” film as well as the continued popularity of merchandise related to the “Frozen” film.
MGM Resorts International sued to prevent the construction of a tribal casino in Connecticut that would compete with the company's own resort being built in Springfield, Massachusetts.
Shire Plc made an unsolicited offer to buy one-month-old Baxalta Inc. for about $30 billion in stock to bolster its focus on rare diseases, a move that may fend off larger drugmakers looking at its own assets for a tax break.
Luxury retailer Neiman Marcus has filed for an initial public offering for the second time in a little more than two years. For the purpose of calculating a filing fee, Neiman Marcus said it expects to raise $100 million from the offering.