What's moving markets today: March 15, 2019

9:35 a.m. ET, March 15, 2019

Burger King takes on Starbucks with $5 coffee pass

Burger King (QSR) is challenging its higher-priced rivals with a new coffee subscription.

The restaurant just announced a $5 per month deal that let's customers get a small cup of coffee once a day. "For the price of a large cappuccino from Starbucks, you can have a BK Café brewed coffee every day for a month," the release notes.

Coffee drinkers will need to buy it on Burger King's app and, sorry, it's not valid on specialty or iced coffee drinks.

Burger King's sales have fallen behind its rivals, including McDonald's (MCD) and Wendy's (WEN). In November, the chain announced it's remodeling some of its stores with self-order kiosks and will focus on buzzy menu items to lure in customers.

9:05 a.m. ET, March 15, 2019

NYSE to hold a moment of silence for New Zealand terror attack

The New York Stock Exchange will have a moment of silence for victims of the New Zealand terror attack at 9:20 am ET.

"The NYSE extends its deepest sympathies to those affected by the devastating shootings in New Zealand," it said in a statement.

10:57 a.m. ET, March 15, 2019

Boeing shares lower again

Boeing (BA) shares resumed their decline in early trading Friday, despite being slightly higher in pre-market trading.

Shares have lost 13% since Sunday's deadly crash of one of its jets, which caused the grounding of the global fleet of 737 Max jets. That has shaved shaving $31.2 billion from its market value.

Boeing is a Dow component, and its drop has also shaved more than 350 points off of the Dow this week, though that wasn't enough to stop that blue chip index from rising about 1% so far this week.

The company announced a halt of deliveries of the grounded planes during the shutdown, but that it would continue to build them at its Renton, Washington factory. Since airlines typically pay about 60% of the price of an aircraft upon delivery, the halt of deliveries could shave about $1.8 billion from its revenue in the first quarter, according to an estimate from Cowen analyst Cai Von Rumohr. But he thinks any lost revenue should be recouped in the second quarter when he expects delivers to resume.

Most analysts believe the long-term impact on Boeing sales and its stock from the crisis should be minimal.

7:56 a.m. ET, March 15, 2019

What YouTube, Facebook and Twitter have said about the New Zealand shooting

At least 49 people have been killed and 20 seriously wounded after mass shootings at two mosques in the New Zealand city of Christchurch.

Prime Minister Jacinda Ardern condemned the attack as terrorism. Local police said they're aware of a video shared on various platforms and broadcast live during the attack, which purports to show a gunman walking into an unnamed mosque and opening fire.

Here's what the social networks are saying about the video to CNN:


Our hearts go out to the victims of this terrible tragedy. Shocking, violent and graphic content has no place on our platforms, and is removed as soon as we become aware of it. As with any major tragedy, we will work cooperatively with the authorities."


Our hearts go out to the victims, their families and the community affected by this horrendous act. New Zealand Police alerted us to a video on Facebook shortly after the livestream commenced and we quickly removed both the shooter’s Facebook and Instagram accounts and the video. We're also removing any praise or support for the crime and the shooter or shooters as soon as we’re aware. We will continue working directly with New Zealand Police as their response and investigation continues."


We are deeply saddened by the shootings in Christchurch today. Twitter has rigorous processes and a dedicated team in place for managing exigent and emergency situations such as this. We also cooperate with law enforcement to facilitate their investigations as required."
7:13 a.m. ET, March 15, 2019

Apple said Spotify's antitrust complaint is filled with 'misleading rhetoric'

Apple (APPL) has publicly responded to Spotify's complaint with European antitrust officials, saying its policies are fair.

Spotify CEO Daniel Ek wrote earlier this week that Apple "has introduced rules to the App Store that purposely limit choice and stifle innovation at the expense of the user experience."

Apple responded that (SPOT) "seeks to keep all the benefits of the App Store ecosystem ... without making any contributions to that marketplace." It said Spotify's letter was filled with "misleading rhetoric."

Apple added:

"Spotify wouldn’t be the business they are today without the App Store ecosystem, but now they’re leveraging their scale to avoid contributing to maintaining that ecosystem for the next generation of app entrepreneurs. We think that’s wrong."

Apple pointed to Ek's complaint about the 30% fee on purchases made through Apple's in-app payment system, saying that 84% of apps in its store doesn't pay Apple. He said Spotify left out other facts about the fee structure.

Shares of both companies are unchanged in premarket trading.

10:17 a.m. ET, March 15, 2019

Facebook shares drop after the exit of two execs

Facebook (FB) shares are down nearly 4% in early trading.

The company announced Thursday that two top executives are leaving:

  • Chris Cox, Facebook's chief product officer
  • Chris Daniels, head of its mobile messaging platform WhatsApp

The departures come shortly after Facebook announced that it's repositioning itself as a "privacy-focused" social network.

9:53 a.m. ET, March 15, 2019

Tesla shares drop after Model Y SUV debut

  • The Model Y SUV made its splashy debut late Thursday by CEO Elon Musk.
  • It will cost $39,000 on the low end, with pricier versions ranging from $47,000 to $60,000. It will start to ship in 2020.
  • Tesla (TSLA) shares are down 4% in early trading.
  • Read more of CNN Business' coverage here.