"The president has accepted the recommendation of the attorney general and the deputy attorney general regarding the dismissal of the director of the Federal Bureau of Investigation," White House spokesman Sean Spicer told reporters in a briefing.
2. -- Shares of Walt Disney (DIS) were tumbling 2.1% early Wednesday after posting earnings that topped analysts' forecasts but sales that missed estimates.
Revenue for the quarter ended April 1 was $13.3 billion, missing estimates of $13.45 billion. Profit exceeded estimates largely because of strong results at Disney's parks and resorts. Profit excluding some items rose for the quarter to $1.50 a share, beating the average estimate of $1.41.
Sales and operating income at Disney's cable-TV group, which includes ESPN and the Disney Channel, fell 3%, as ratings slipped and a new multi-year contract priced at more than $600 million began with the National Basketball Association. Advertising at ESPN fell 1% in the quarter.
Disney's parks have become the most stable part of the company's many businesses, and over the next two years CEO Bob Iger said they should account for as much as two-thirds of earnings growth as new resorts open in Tokyo, Paris and Shanghai. The parks and resorts unit group posted a 20% growth in operating income on a 9% jump in sales.
Disney's film business also posted better-than-expected results.
3. -- Toyota (TM) posted weaker-than-expected full-year results Wednesday and cautioned that profit in the current fiscal year is likely to fall sharply as the yen strengthens and sales stall.
"I have said that we have entered the implementation phase of sustainable growth by pursuing our three main goals of making ever-better cars and developing people, which we improved during our intentional pause, taking up challenges for the future and reinforcing our management and financial foundation," said Toyota President Akio Toyoda.
Abercrombie has hired investment bank Perella Weinberg Partners to handle the takeover approaches, two sources told Reuters. There is no certainty that any deal will occur, the sources added.
Abercrombie and Perella Weinberg declined to comment.
Abercrombie's shares are trading at a 17-year low, as its styles once popular among teenagers have lost their appeal.
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