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Spirit urges investors to reject JetBlue, NY AG to probe Twitch and Discord, Netflix loses long-term subscribers

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Yahoo Finance's Julie Hyman breaks down leading business headlines.

Video transcript

JULIE HYMAN: We got the latest in the airline takeover back and forth. Spirit Airlines is urging its shareholders to reject Jetblue's takeover attempt. In a statement, the company said Jetblue's proposal and offer are a cynical attempt to disrupt Spirit's merger with Frontier, which JetBlue views as a competitive threat. JetBlue launched its hostile takeover bid on Monday after Spirit rejected its formal acquisition bid. If you take a look at the stocks and how they're trading in today's session-- I have to turn around to do so. We are not seeing much action here. Frontier shares, though, moving the most. They're up about 3%.

The New York Attorney General is launching an investigation into Twitch, Discord, and anonymous messaging app 4chan, in connection to the mass shooting in Buffalo that killed 10 people. The Buffalo suspect allegedly credited the racist memes and discussions found on 4chan for influencing him in a post published online. The suspect livestreamed the shooting on Twitch, which removed the feed less than two minutes after it started. In a statement, the New York Attorney General said, quote, "The fact that an individual can post detailed plans to commit such an act of hate without consequence and then stream it for the world to see is bone chilling and unfathomable."

And are you still watching if you're a Netflix subscriber? Maybe not. Netflix is losing even more long-term subscribers, this according to a new report from The Information. A survey showing cancelations jumping last quarter by nearly 44% compared to the past five quarters. Netflix, of course, one of the many tech stocks that has been under pressure. The streaming giant recently raised prices and is signaling plans to crack down on account sharing and launch an ad-supported tier.

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