After six years, a new law, and a Supreme Court fight, ByteDance’s Project Texas may have won out after all. https://t.co/QUsmh3cScA (Photo: Chip Somodevilla via Getty Images) https://t.co/4Z043lxJJr ...

Who's grabbing control of TikTok's US assets?On Thursday, TikTok told staffers it had TikTok told staffers it had signed a deal to form a joint venture for its US business with a group of investors, according to an internal memo sent by CEO Shou Chew, which was viewed by Business Insider. The company expects the deal to close in January late, per the memo. Three managing investors will each hold a 15% stake in the new venture: Oracle, private equity firm Silver Lake, and Abu Dhabi-based investment firm M ...

Market Overview - The U.S. stock market is experiencing a midday surge, with all three major indexes in positive territory, driven by a rebound in technology and AI-related shares [1][2] - The Nasdaq Composite is leading with a gain of approximately 0.9%, followed by the S&P 500 at around 0.7% and the Dow Jones Industrial Average at about 0.5% [2] Economic Indicators - The November Consumer Price Index (CPI) showed a year-over-year increase of only 2.7%, below the expected 3.0%, which has raised hopes for further Federal Reserve interest rate cuts in 2026 [3] - The prospect of a more accommodative monetary policy is seen as a tailwind for equities [3] Corporate Developments - Oracle (ORCL) shares surged by approximately 7% due to reports of a joint venture with China's ByteDance, granting American investors, including Oracle, a controlling stake in TikTok's U.S. operations [8] - Micron Technology (MU) shares jumped another 5.5% after a 10% increase the previous day, driven by strong earnings and robust guidance amid tightening supply for AI data centers [9] - Other chipmakers like Nvidia (NVDA) and Advanced Micro Devices (AMD) also saw gains of about 3.5% and 5.5%, respectively, due to renewed enthusiasm for AI [13] Company Performance - Winnebago Industries (WGO) shares soared by 12.3% after exceeding analysts' expectations in its fiscal 2026 first quarter and raising its full-year outlook [13] - Darden Restaurants, Inc. (DRI) rose 1.8% after reporting strong second-quarter fiscal 2026 revenue that surpassed consensus estimates [13] - Cintas Corporation (CTAS) gained 1.3% after reporting second-quarter fiscal 2026 earnings that beat the Zacks Consensus Estimate [13] - Conversely, Nike (NKE) slumped nearly 10% despite exceeding earnings expectations, impacted by declining sales in China and tariffs affecting gross margins [13] - Enerpac Tool Group Corp. (EPAC) shares declined 8.8% after missing earnings expectations for the first quarter of fiscal 2026 [13] - FedEx (FDX) slid more than 2% as its quarterly results failed to impress investors [13]

Carnival Corporation - Carnival Corporation reported adjusted earnings of $0.34 per share, exceeding analysts' expectations of $0.25 per share, with a record revenue of $6.33 billion, slightly below estimates [2] - For fiscal 2026, Carnival anticipates adjusted net income of $3.5 billion, surpassing the record levels of 2025 and the Visible Alpha consensus of $3.37 billion [2] - The company's board reinstated a quarterly dividend of $0.15 per share, reflecting confidence in future performance and commitment to shareholder value [3] Market Reaction - Following the positive quarterly results and optimistic guidance for fiscal 2026, shares of Carnival surged by 8% [1] - Shares of competitors Norwegian Cruise Line Holdings and Royal Caribbean Cruises also saw increases of 4.5% and 2.5%, respectively [3]

Resetting the clock. Big news for 136 million US users who can't help but scroll through Tik Tok. The yearslong battle over who will finally control this app has reached a conclusion as Bite Dance, the Chinese owner, signed a binding agreement now to hand over control of US operations to a group of American investors.Bite Dance was required to divest or face a ban in the US under a national security law upheld by the Supreme Court in January. Let's bring in CNBC senior media and tech correspondent Julia Bou ...

The Beijing-based parent company of TikTok is on track to hit that milestone after amassing net income of about $40 billion over the year’s first three quarters, people familiar with the matter said. https://t.co/79uJHT0itY ...

Market Overview - U.S. stock markets opened higher on December 19, 2025, following a volatile week, with major indexes buoyed by cooler-than-expected inflation data for November, raising hopes for potential Federal Reserve rate cuts in the new year [1][2] - The S&P 500 Index opened at 6,792.62 points, up 17.86 points or 0.26 percent, while the Nasdaq Composite Index opened at 23,121.90 points, up 115.54 points or 0.50 percent, and the Dow Jones Industrial Average opened at 47,974.82 points, up 22.97 points or 0.05 percent [2] Economic Outlook - The Federal Reserve cut interest rates by a quarter-point to a range of 3.50%-3.75% during its final meeting of 2025, but further cuts are not guaranteed without significant weakening in the job market [3] - Economic reports are expected to be viewed with skepticism due to distortions caused by a recent government shutdown [3][4] Upcoming Economic Data - Key economic data releases include Final GDP q/q, Core PCE Price Index, Existing Home Sales, and Revised UoM Consumer Sentiment, which are critical for assessing inflation and consumer behavior [4] Quadruple Witching Impact - "Quadruple witching" is occurring today, with a record $7.1 trillion in options expiring, which could lead to increased market volatility [5] Corporate Developments - Oracle (ORCL) shares rose 5.5% on news of a potential joint venture with ByteDance for TikTok's U.S. operations, granting American investors a controlling stake [6] - Micron Technology (MU) shares jumped nearly 5% after a strong earnings report, with a 10% surge the previous day, driven by demand for AI memory solutions [7] - Nike (NKE) shares fell over 10% due to weaker-than-expected revenue from China and higher tariffs impacting gross margins [8] - FedEx (FDX) reported revenue of $23.47 billion and adjusted earnings per share of $4.82, but shares remained flat [9] - Winnebago (WGO) shares soared 12% after strong fiscal first-quarter results and an increased full-year outlook [9] - Darden Restaurants (DRI) reported second-quarter revenue of $3,102.1 million, exceeding estimates, leading to a 1.8% rise in shares [10] - Cintas Corporation (CTAS) shares gained 1.3% after reporting earnings of $1.21 per share, beating expectations [10] - Enerpac Tool Group Corp. (EPAC) shares declined 8.8% after missing earnings estimates [10] Global Economic Developments - The Bank of Japan raised its key policy rate to 0.75%, the highest since 1995, contributing to a rise in global shares [11]

Oracle ( NYSE: ORCL ) shares are jumping 5% in premarket trading this morning, following news that TikTok's parent company ByteDance signed binding agreements to form a U.S. ...

RT Alexandra S. Levine (@Ali_Lev)Scoop: TikTok and ByteDance signed binding agreements with Oracle, Silver Lake and MGX, per internal memo from CEO Shou Chew reviewed by Bloomberg.This signals a path forward for TikTok to keep running in the US, ahead of a January divestiture deadline: https://t.co/ynXLgQLRai ...

Tik Tok CEO telling employees that its parent company Bite Dance has reached an agreement to create a new US joint venture that will hold the US version of the app and that will be majority owned by US investors. Kevin Meyer Meyer is the founder and co-found co-CEO of Candle Media. He's also the former CEO of Tik Tok and the former COO of Bite Dance.And CNBC's Beijing bureau chief Ununis Yun is here as well. She joins us here at the NASDAQ this morning as well. So folks, let's run through this.Um, first of ...