DISNEY PULLS ITS MAGIC FROM NETFLIX; Secret Lives of Millionaire Engineers Who Make Bank and Barely Work

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DISNEY PULLS ITS MAGIC FROM NETFLIX: 

Disney reported earnings on Tuesday, posting quarterly EPS of $1.58 vs. analysts’ estimates of $1.55. However, Disney also reported revenue of $14.24 billion, down from expectations of $14.4 billion. One unexpected result: Netflix shares tumbled as much as 5 percent on news that Disney movies released after 2019 would not be available on the streaming service. The company is also planning to create its own distribution channels for live TV and on-demand content.

NOT EVERYONE'S LEAVING NETFLIX, THOUGH...:

David Letterman has put retirement plans on hold and will be joining the streaming service to host a new six-episode talk show. There’s no name for the show just yet, but The Roster confirms that Letterman will have lengthy conversations with people he admires. According to Netflix, the legendary comedian also plans to leave the studio and do some real-world reporting. Letterman retired from "The Late Show" in 2015 and has flown below the radar for the most part since then. He says he's excited and lucky to be working on this project with Netflix. We are too. Letterman’s Netflix series is set to premiere sometime in 2018.

MCDONALD'S SETS ITS SIGHTS ON CHINA: 

McDonald’s plans to boost its business in mainland China by adding 2,000 more stores by the end of 2022. The fast-food chain hopes to achieve annual growth in the double digits over the next five years. McDonald’s chief executive, Steve Easterbook says "China will soon become our largest market outside of the United States.” Earlier this year, McDonald’s agreed to sell most of its China and Hong Kong businesses to the Carlyle Group and CITIC for $2.1 billion.