Netflix Fires a Salvo at Disney; Markets Stage a Rally -- ICYMI Monday

Last week Wall Street worried about war between the United States and North Korea. We kicked off this week with a war of the much more standard (and less terrifying) fare: Netflix (NFLX) vs. Disney (DIS) .

The streaming service announced it scooped up writer and producer Shonda Rhimes' Shondaland from Disney's ABC on Monday. The move comes a week after Disney announced plans to launch subscription-based streaming services of its own.

Markets rallied on Monday as tensions between the U.S. and North Korea eased -- or, at least, other matters dominated the headlines. The Dow Jones Industrial Average climbed 0.62%, the S&P 500 climbed 1.00%, and the Nasdaq rallied 1.34%. Safe haven gold fell by 0.48%, and oil dipped by 2.64% to $47.53 a barrel.

Merck (MRK)  CEO Kenneth Frazier on Monday announced his decision to quite a manufacturing council to President Donald Trump over the commander-in-chief's lukewarm response to racist violence in Charlottesville, Virginia over the weekend. While a handful of other executives condemned the weekend's events and the far-right groups behind them, Frazier was the only one to quit Trump. Tesla's (TSLA)  Elon Musk and Disney's Bob Iger already exited advisory councils to the president in reaction to his decision to withdraw the U.S. from the Paris climate accord earlier this year.

Procter & Gamble (PG)  on Monday urged its shareholders to reject a proxy bid by Trian Fund Management's Nelson Peltz to obtain a seat on its board. P&G said the activist investor's push for a seat was to "satisfy his own agenda" and spur "change for the sake of change."

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Photo of the day: An earlier success from Shonda Rhimes
 
 
Netflix on Monday announced a major deal with Shonda Rhimes, wrestling the mind behind "Grey's Anatomy" and "Scandal" away from rival Disney's ABC. But long before the 47-year-old television producer was at the center of a landmark media battle, she was penning a role for a young starlet to jump from music into film. Rhimes wrote the 2002 film "Crossroads" starring pop singer Britney Spears. The movie grossed over $61 million worldwide -- peanuts compared to the more than $2 billion Rhymes has generated for ABC.
 
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