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Foursquare near funding round that values it at $250 million – Re/code

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SAN FRANCISCO Foursquare, which lets users find restaurants and stores and “check” into them, is discussing a funding round that would set its value at $250 million, less than half its worth two years ago, tech news site Re/code reported on Tuesday, citing sources.

The site also said the company had talked to potential buyers.

Re/code said the funding round would raise between $20 million and $40 million and would include one new investor, which it did not name.

Foursquare has been the subject of takeover speculation, with Yahoo Inc (YHOO.O) being reported more than once as a potential buyer.

Foursquare declined to comment on the Re/code report.

(Reporting by Sai Sachin R in Bengaluru; Editing by Stephen R. Trousdale)

Source: R-Business

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Disney in talks with Univision to exit Fusion joint venture – WSJ

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<span class="focusParagraph articleLocation”>Walt Disney Co (DIS.N) is in talks to sell its stake in cable and digital network Fusion to partner Univision Communications Inc [UVN.UL], the Wall Street Journal reported.

Both companies are trying to find a way for Disney to exit by the end of the year, the Journal reported, citing people familiar with the matter. (on.wsj.com/1kfJk5l)

Fusion, which is foccused on millennials, was launched in October 2013 as a partnership between Disney’s ABC News and Univision.

New York-based Univision owns a highly rated Spanish language broadcast network that sometimes beats English language broadcasters such as NBC in the primetime ratings race.

Disney and Univision could not immediately be reached for comment.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Sriraj Kalluvila)

Source: R-Business

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Nike's futures orders surge as demand in China, North America soars

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<span class="focusParagraph articleLocation”>Nike Inc (NKE.N), the world’s largest footwear maker, reported futures orders that breezed past analysts’ estimates, powered by strong demand in North America and China.

The company’s shares, already the top performing year-to-date Dow component, rose 2.5 percent to $135.23, in extended trading on Tuesday.

The Nike brand orders for delivery from December through April, a gauge of demand the company calls “futures orders”, rose 20 percent, excluding currency, as of Nov. 30.

Analysts on average had expected futures orders growth of 13.6 percent, according to Consensus Metrix.

Futures orders in Greater China – a fast-growing market – jumped 34 percent, the biggest jump in two years. It rose 14 percent in North America.

New footwear launches in the basketball, running and sports categories are helping Nike draw customers towards higher-priced products, while the “athleisure” trend is driving sales in the athletic apparel sector.

Nike’s higher-margin Jordan, LeBron, Kobe and KD basketball shoe brands have been especially popular in the U.S., helping drive sales of the company’s footwear division.

The company’s running shoe brands, which include Lunar, Free, Flyknit, Roshe Run, Huarache and Max Air, have also seen rising demand.

“Nike has the space to themselves right now, competition is virtually non-existent for the company,” Edward Jones analyst Brian Yarbrough said, adding that the company’s focus on product innovation, the health and wellness segment are boosting demand.

Revenue from North America, Nike’s largest market, rose 9.4 percent in the second quarter ended Nov. 30. Footwear sales in the region rose 12.3 percent to $2.16 billion.

Sales in Greater China rose 24 percent, helped by overhauled stores and greater online traffic.

Nike said net income jumped 20 percent to $785 million, or 90 cents per share.

The company said net income also benefited from a lower effective tax rate.

Revenue rose 4.1 percent to $7.69 billion.

Analysts on average had expected earnings of 86 cents per share and revenue of $7.81 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Yashaswini Swamynathan, Additional reporting by Ramkumar Iyer in Bengaluru)


Source: R-Business

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