ExxonMobil CEO gets a promotion, Amazon Prime to launch in India
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ExxonMobil (XOM) CEO Rex Tillerson picked as secretary of state
The big news Tuesday morning had to do with ExxonMobil: Donald Trump picked CEO Rex Tillerson to be the next secretary of state. Shares of America’s largest energy company gained 1% in the morning, bringing total gains to 5% in the past five days. While reports have circulated for a few days that Trump was going to pick Tillerson, ExxonMobil has yet to comment on who will replace him as CEO.
Wynn Resorts (WYNN) enters retail joint venture with Crown Acquisitions in Las Vegas
Wynn Resorts will be entering a joint venture to run its retail space at Wynn Las Vegas. Shares gained over 1% on the news, recovering some of last week’s losses. The joint venture involves New York real estate player Crown Acquisitions. The deal has Crown paying Wynn $472 million dollars within the coming year for a 49.9% stake in some of Wynn Las Vegas’ retail space.
Amazon (AMZN) Prime Video to launch in India
Amazon is going Bollywood. The company’s Prime Video is expected to announce plans to launch in India. That helped to send shares up 2% Tuesday morning. Amazon had been expected to enter the video-on-demand market in India, where it will face competition from local players and global rivals such as Netflix (NFLX).