Norwegian Cruise Line, Netflix, Amazon.com: Stocks That Defined the Week
By Francesca Fontana
Norwegian Cruise Line Holdings Ltd.
Cruise companies are anxious to set sail again. Norwegian Cruise
Line said Monday it asked federal health authorities to let it
depart from U.S. ports starting July 4, saying its vaccination
requirement for passengers and crew is a sufficient precaution
against Covid-19. Norwegian other major cruise lines haven't sailed
in the U.S. since coronavirus outbreaks on ships brought voyages to
a halt last year. Norwegian shares rose 7.2% Monday.
Google can hit refresh after a court battle over copyright. The
Supreme Court on Monday ruled that the unit of Alphabet isn't
liable to Oracle Corp. for copyright infringement based on how it
built its Android smartphone-operating system, erasing the prospect
of a multibillion-dollar award to Oracle. The court, in a 6-2
opinion by Justice Stephen Breyer, threw out a lower-court ruling
for Oracle that said Google's Android infringed its copyrights on
the Java software platform. The nation's highest court ruled that
Google's copying of some Java API code was fair use. Alphabet
shares added 4.1% Monday.
Royal Dutch Shell PLC
Shell's pandemic recovery hit a slippery patch thanks to a
winter cold snap. The company said Wednesday that gains it made
from higher oil prices in the first quarter would be partly offset
by disruption related to the winter storm in Texas. As millions of
Texans were left without power, the freeze resulted in outages at
refineries and chemical plants, disrupted pipeline flows, and froze
oil and natural-gas wells. Oil giants reported some of their worst
results on record for 2020, after lockdowns sapped demand for oil,
sending prices lower and prompting companies to reduce costs,
shrink workforces and cut dividends. American depositary shares of
Shell gained 1.3% Wednesday.
Your friendly neighborhood Spider-Man is coming to Netflix. The
entertainment giant has reached a multiyear agreement with Sony
Pictures Entertainment for domestic streaming rights to the
studio's theatrical movies, the companies said Thursday. The deal
will start with Sony Pictures' 2022 movie slate, and Netflix will
have a first-look option to pick up movies Sony is making or
licensing specifically for streaming platforms. Among the releases
that will land on Netflix after their theatrical runs are future
"Spider-Man" movies and other films based on Marvel characters that
the Sony Group Corp. unit has the rights to. Netflix will also
license older movies from Sony's library. Netflix shares rose 1.4%
General Motors Co.
A worsening chip shortage offers new roadblocks for General
Motors. The auto maker said Thursday that it will halt production
at several North American factories and extend shutdowns at others
due to the semiconductor supply issues. The new plants affected
include one in Tennessee and another in Michigan that make popular
midsize sport-utility vehicles. The moves follow recent news that
Ford Motor Co. would deepen North America production cuts,
including idling for two weeks a factory near its headquarters in
Dearborn, Mich., that makes the F-150 pickup truck, its biggest
moneymaker. GM shares fell 1.2% Thursday.
McDonald's isn't loving it at Walmart anymore. The fast-food
giant is closing hundreds of restaurants located in the largest
U.S. retailer's stores after a yearslong partnership, as more
shopping goes online and fast-food restaurants depend more on
drive-through windows for sales. The pandemic has also made indoor
dining unappealing -- or prohibited -- for many shoppers,
accelerating the split. Around 150 McDonald's stores will remain at
U.S. Walmart locations after another wave of planned closures that
are expected to finalize by this summer. At the peak of the
partnership, there were roughly 1,000 McDonald's restaurants inside
Walmart stores. McDonald's shares added 0.5% Friday.
Amazon workers won't be unionizing in the Yellowhammer State.
The e-commerce giant got enough votes to defeat union efforts in
Alabama, as an estimated 71% of warehouse workers in Bessemer,
Ala., who cast ballots voted against joining the Retail, Wholesale
and Department Store Union, according to a Wall Street Journal
tally. It's a victory for Amazon in its biggest battle yet against
labor-organizing efforts, after the election fueled national debate
over working conditions at one of the nation's largest employers.
Supporters contrasted the company's reputation for growth and
innovation with the working conditions for rank-and-file employees,
and compared the wealth of Amazon Chief Executive Jeff Bezos to the
experience of hourly warehouse workers. Amazon shares rose 2.2%
Write to Francesca Fontana at firstname.lastname@example.org
(END) Dow Jones Newswires
April 09, 2021 19:53 ET (23:53 GMT)
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