Media stocks continued their collapse Thursday, with investors worried that a day of reckoning is at hand for the pay-TV ecosystem. Walt Disney’s (DIS) warning late Tuesday over slowing revenue growth from affiliate fees, the payments media firms garner from pay-TV companies, set the sell-off in motion. Generally soft media earnings didn’t help. Disney shares fell 1.8% after losing 9% Wednesday. Over the past two sessions,
Tesla Motors reported a smaller-than-expected second-quarter loss late Wednesday, but its stock fell as it signaled its full-year deliveries target is at risk. “Model X remains on track for start of deliveries in late Q3,” the electric-car maker said in a letter to shareholders, but CEO Elon Musk told analysts on a conference call that “it’s going to be quite a challenging production ramp” for the crossover SUV. Tesla (TSLA) sees
Priceline shares cruised to their highest altitude ever Wednesday after the company beat second-quarter estimates, while CEO Darren Huston shed light on the online travel agency’s social media partnerships. “I was quite skeptical, but I have to give Facebook (FB) a ton of credit. We’re finally getting some good business out of Facebook,” he said during a conference call, admitting that Priceline has “always struggled” with accessing