Don't mess with the Mouse

Plus, Amazon’s Rivian to invest $5 billion in EV plant & Facebook delays return to office

Hello there, 

Disney (DIS) is on a winning spree with its earnings beating expectations in subscriber growth and revenue. 

Why this matters: Re-openings have been good to the company - their theme park has reported its first profitable quarter since the pandemic began. Revenue came in at $17 billion and Disney+ now has 116 million subscribers. The company has also been experimenting with its media business and the distribution of its movies - we’ll be seeing “Shang-Chi” in theaters for 45 days before the company adds it to its streaming service. The company said they are very confident in their growth and expect to have 230 million to 260 million subscribers by 2024. (CNBC)

Are you new to investing? Do you live in Ghana? We’ve created new communities for you to join!

Amazon’s Rivian to invest $5 billion in an EV plant

Amazon (AMZN) backed EV company Rivian, is in talks to build a new vehicle plant in Texas.

Why this matters: "Project Tera" would create at least 7,500 jobs by 2027 and produce around 200,000 vehicles a year. Rivian is already considering Mesa, Arizona, for what would be their second EV factory. The new factory would include battery cell production and could break ground as early as next year. (Yahoo Finance)

Facebook delays return to office

Facebook (FB) has announced that it will delay its plan to return to its U.S. office till Jan 2022. 

Why this matters: The company has announced that it has pushed back return to their U.S. office due to a jump in the Delta variant of COVID-19 cases. They are expected to carry out the same exercise in their international offices as well. Other tech companies like Amazon (AMZN) and Lyft (LYFT) have also pushed back their return to office till next year. (CNBC)

That’s it from us 

See you next week.