CNN is shedding 6% of its workforce, or roughly 200 staffers, because the cable network goals to remodel its newsroom right into a digital-first operation.

CNN parent company Warner Bros. Discovery (WBD) plans to take a position $70 million into the network’s revamp, which incorporates a latest direct-to-consumer streaming product and a give attention to premium digital ad experiences. CNN also plans to refresh its website, undergo a significant pivot into digital video, and launch a first-of-its-kind lifestyle-oriented digital product.

CNN CEO Mark Thompson said in a staff memo obtained by Yahoo Finance that jobs can be added as a part of the hassle and that despite the job cuts, the network doesn’t expect headcount to say no much this yr.

“Our objective is a straightforward one: to shift CNN’s gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN’s future as considered one of the world’s biggest news organizations,” Thompson said.

Shares of WBD were little modified on the news. Read more here.

These were the most important movers on Yahoo Finance’s trending tickers page on Thursday.

Electronic Arts (EA)

Electronic Arts stock tumbled greater than 15% on Thursday after the sport publisher said quarterly bookings fell to roughly $2.22 billion, missing analyst expectations.

GE Aerospace (GE)

Shares of the jet engine maker jumped nearly 7% on Thursday after the corporate exceeded fourth quarter estimates on each revenue and earnings.

GE Aerospace also gave an optimistic outlook for the total yr 2025 and announced a $7 billion stock buyback program.

American Airlines (AAL)

American Airlines stock tumbled after forecasting a surprise loss for the primary quarter. The air carrier projects an adjusted lack of as much as $0.40 a share for the present quarter. Analysts were expecting a profit of not less than $0.01, in response to estimates compiled by Bloomberg.

American Airlines posted record fourth quarter revenue of $13.7 billion and record full-year revenue of $54.2 billion.

Deals to buy a house fell through at a record rate in December as high mortgage rates and housing costs caused buyers to lose faith.

Nearly 40,000 home purchase agreements were canceled in December, equal to 16.2% of homes that went under contract that month — the best percentage of any December on record, in response to Redfin.

House hunters are having trouble committing because housing costs remain expensive. In response to Freddie Mac, mortgage rates have moved higher over the past six weeks, but this week the typical 30-year fixed mortgage rate fell 8 basis points to six.96% from 7.04%.

“Homebuyers pumped the brakes when mortgage rates ticked back up, and at the moment are in wait-and-see mode,” Jesse Landin, a Redfin real estate agent in San Antonio, said within the Redfin report. “Everyone seems to be just attempting to determine when rates are going to return down again. Within the meantime, quite a lot of house hunters are opting to rent.”

Buyer appetite “will likely slow further in January on account of the wildfires impacting Los Angeles — the nation’s second most populous metro area — and winter storms impacting the Mid-Atlantic and Southeast,” Redfin senior economist Elijah de la Campa said within the report.

The S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) traded higher on Thursday following President Trump’s distant comments on the World Economic Forum in Davos, Switzerland.

The broad based index gained greater than 0.1%, a stone’s throw away from an intraday record. Meanwhile the Dow gained as much as 0.6%, led by Industrials (XLI).

The tech-heavy Nasdaq Composite (^IXIC), which opened the session lower, fell 0.3%. Yields on the 10-year Treasury (^TNX) also inched as much as 4.65%.

During his remarks via video at Davos, the president said he’ll ask OPEC to lower the worth of oil and warned corporations that in the event that they don’t manufacture within the US, they may should pay a tariff.

“Should you don’t make your product in America, which is your prerogative, then very simply you should have to pay a tariff — differing amounts, but a tariff.”

The president didn’t mention tariffs specifically against China, a significant manufacturer of products sold within the US.

President Trump said he’ll ask the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, to bring down the worth of oil.

“I’m also going to ask Saudi Arabia and OPEC to bring down the fee of oil. You’ve to bring it down,” said Trump during his distant speech on the World Economic Forum in Davos, Switzerland.

“If the worth got here down, the Russia-Ukraine war would end immediately. Immediately the worth is high enough that that war will proceed, you’ve to bring down the oil price. You’ve to finish that war,” he said.

Russia, a significant producer of oil and gas, is an OPEC ally. The cartel currently has production cuts in place to be able to keep a floor on prices.

Each West Texas Intermediate (CL=F) and Brent (BZ=F) fell roughly 1% following Trump’s comments.

President Trump said he’ll demand that rates of interest drop within the US.

“I’ll demand that rates of interest drop immediately, and likewise, they must be dropping all around the world. Rates of interest should follow us,” Trump said remotely on the World Economic Forum in Davos, Switzerland.

The Dow Jones Industrial Average (^DJI) moved to a session high, up 0.5% while the S&P 500 (^GSPC) gained 0.2%. The Nasdaq Composite (^IXIC) fell barely.

President Trump spoke remotely on the World Economic Forum in Davos, Switzerland, appearing via video to a packed room of CEOs and world officials.

The president first listed a series of actions he took upon entering the White House, including withdrawing from the Paris Climate Accord and declaring a national energy emergency.

On the subject of tariffs, the president said, “My message to each business on the planet may be very easy: Come make your product in America, and we offers you among the many lowest taxes of any nation on Earth.”

“But for those who don’t make your product in America, which is your prerogative, then very simply you should have to pay a tariff — differing amounts, but a tariff.”

Attendees on the World Economic Forum in Davos are waiting for President Trump’s special address via video.

Investors watching the distant speech will concentrate to any talk in regards to the president’s tariff policy.

President Trump can even take questions after his remarks.

Bitcoin (BTC-USD) rose after Republican Sen. Cynthia Lummis said in a post on X that she’s going to chair the Senate Banking Subcommittee on digital assets.

The token moved as much as about $105,000 at around 10:50 a.m. ET.

Earlier this week, Lummis said she spoke with Eric Trump about the opportunity of making a strategic bitcoin reserve on the inaugural lunch on Monday.

Late last yr, she introduced a proposal that will give the Federal Reserve the fitting to own the cryptocurrency.

Yahoo Finance’s Laura Bratton reports:

Chip stocks fell across the board early on Thursday after a Nvidia (NVDA) supplier made comments on its earnings call that indicated uncertainty about semiconductor demand this yr.

South Korea-based SK Hynix (000660.KS) makes memory chips for Nvidia’s GPUs (graphics processing units), that are utilized in data centers to underpin artificial intelligence software.

After SK Hynix reported fourth quarter earnings that surpassed analysts’ expectations, its head of finance, Woo-Hyun Kim, painted a careful picture of the yr ahead.

“2025’s memory demand outlook is clouded by inventory adjustments from PC and smartphone OEMs [original equipment manufacturers] in addition to strengthened protective trade policies and geopolitical risks,” Kim said on a post-earnings conference call.

Following the comments, Nvidia shares sank as much as 2%. British chip designer Arm’s (ARM) stock dropped nearly 6%, and SK Hynix rival Micron (MU) shares fell roughly 4%.

Read more here.

Yahoo Finance’s Brian Sozzi reports from Davos:

Up and down the promenade on the World Economic Forum this week, leaders agree on one thing about artificial intelligence: It’s darn powerful, and it’s beginning to materially impact how business is finished and can be done.

Think AI on the cusp of rendering human call centers and HR departments obsolete.

What leaders cannot agree on is whether or not AI is already uncontrolled — whether it’s beyond the purpose of being successfully regulated or having the right guardrails.

“I’m undecided it’s [AI] uncontrolled. I believe there are use cases that sometimes people wish to showcase [for] … their very own advantages, to see, hey, that is the potential. But the truth is that enterprises are very smart,” HPE CEO Antonio Neri told Yahoo Finance on the annual gathering of top business leaders.

Read more here.

American Airlines (AAL) stock fell nearly 8% after the carrier forecast a surprise loss for its first quarter. The outlook is a departure from the key air travel carriers’ bullish performance in recent quarters.

American expects an adjusted lack of as much as $0.40 a share for the present quarter. Analysts were expecting a profit of not less than $0.01, in response to estimates compiled by Bloomberg.

The airline posted record fourth quarter revenue of $13.7 billion and record full-year revenue of $54.2 billion.

The corporate’s profit for the present quarter is anticipated to be impacted by an increase in non-fuel expenses because it continues to win back business after changing its corporate sales strategy.

American had implemented changes that pushed corporate customers to book directly with the airline, as a substitute of third-party travel managers.

Electronic Arts (EA) stock tumbled 15% on Thursday after the sport publisher said quarterly bookings fell to roughly $2.22 billion, missing analyst expectations.

The decline was on account of the poor performance of two of its video games: soccer title “EA Sports FC 2025” and “Dragon Age: The Veilguard.” Each of those missed bookings expectations.

The corporate cut its bookings outlook for the 2025 fiscal yr to a variety of $7 billion to $7.15 billion.

EA is anticipated to release its complete results on Feb. 4.

US stocks were mixed on Thursday, pulling back from near record levels because the markets awaited a speech from President Trump on the World Economic Forum.

The S&P 500 (^GSPC) slipped roughly 0.2%, coming off a record intraday high on Wednesday, while the Dow Jones Industrial Average (^DJI) was little modified.

Meanwhile, the Nasdaq Composite (^IXIC) fell 0.5% as tech stocks struggled. Nvidia (NVDA) shares slipped, together with those of Apple (AAPL) and Google parent Alphabet (GOOG, GOOGL).

Investors are still awaiting latest developments on the tariff front. Trump is anticipated to remotely give an address to the WEF in Davos later within the day.

Economic data: Initial jobless claims (week ended Jan. 18); Kansas City Fed. Manufacturing Activity (January)

Earnings: American Airlines (AAL), Alaska Airlines (ALK), CSX Corporation (CSX), Freeport-McMoRan (FCX), GE Aerospace (GE), Intuitive Surgical (ISRG), Texas Instruments (TXN), Union Pacific Corporation (UNP)

Listed here are a few of the biggest stories you could have missed overnight and early this morning:

Trump’s latest crypto token is the industry in its purest form

Why Trump is laser-focused on tariffs for Canada

Intel races to search out next CEO before it sinks into irrelevance

Amazon to chop 1,700 jobs, close warehouses in Quebec

GE Aerospace posts earnings beat, plans $7B buyback

American Air stock drops as 2025 profit forecast falls short

Tesla to significantly hike prices for all models in Canada

Musk clashes with OpenAI’s Altman over ‘Stargate’