Blog

Pavlo Gonchar | Lightrocket | Getty ImagesMore change is coming to Diamond Sports' regional sports networks.The company said in court papers filed Tuesday that it reached a naming rights deal with Flutter-owned FanDuel, which will rebrand the Bally Sports channels just as the National Hockey League season has started and the National Basketball Association's 2024-2025 season is less than a week away.Diamond Sports said in the filing that if it is able to emerge from bankruptcy protection, FanDuel will be a "long-term naming rights partner." The new naming rights agreement would also give FanDuel the right to buy up to 5% of equity in the reorganized company and get performance warrants for up to 5% of equity.The agreement is subject to court approval.The new partnership will allow Diamond ...

Consumer spending was expected to hold strong in September — possibly even more than forecast and enough to throw another wrinkle into the Federal Reserve's thought process. The Census Bureau's retail sales report Thursday morning is likely to show a monthly increase of 0.3%, a number that is adjusted for seasonal factors but not inflation, according to the Dow Jones consensus. That would show an increase of 0.1% in August and would be higher than the 0.2% inflation rate for the month as measured by the consumer price index. While that in itself would be a solid performance, indicating consumers are keeping pace with inflation, there are some signs it could be even stronger. Bank of America, for one, thinks the sales number excluding autos may have shot higher by 0.7%, well above the 0.1% ...

Investors should keep an eye on companies that could disappoint on earnings and see their share price fall. Wall Street has been lowering its third-quarter growth estimates for months now. According to a recent FactSet note, companies in the S & P 500 are projected to see a 4.2% increase in earnings compared with the same quarter a year ago, down from an expected 7.8% on June 30. That's not abnormal, however, as third-quarter growth estimates tend to decline in the preceding months. Nearly 10% of S & P 500 companies have already reported results, with more than 79% beating earnings estimates, according to FactSet. Several names could still disappoint, however. To find those that might, CNBC Pro screened FactSet for stocks in the S & P 500 that are reporting next week. These nam...

U.S. crude futures edged lower Wednesday to trade below $71 per barrel, after selling off steeply in the previous session on reports that Israel will not attack Iran's oil facilities.The U.S. benchmark tumbled more than 4% on Tuesday after Israel told the U.S. that it will limit its retaliatory strikes to military targets in Iran, senior Biden administration officials told NBC News.Crude oil prices have given up most of the gains made in the wake of Iran's Oct. 1 ballistic missile attack on Israel, as fears of an oil supply disruption in the Middle East have eased.Here are Wednesday's energy prices:West Texas Intermediate November contract: $70.28 per barrel, down 30 cents, or 0.43%. Year to date, U.S. crude oil has fallen nearly 2%.Brent December contract: $73.94 per barrel, down 31 cents...