CNBC strikes deal to add context to financial news
Leslie Kaufman of The New York Times writes about how CNBC is adding a new set of sophisticated analytics to put daily financial news into historical context.
Kaufman writes, “The analytics will tell viewers and visitors to the CNBC website, for example, how energy stocks have historically responded after a huge snowstorm, or how stocks of Apple suppliers have typically performed after an iPhone release.
“The analysis will show up in formats that the network is calling a Kensho Stats Box, after the start-up behind the software that makes the information available nearly instantly. (NBC likened it to the sports ticker that automatically updates player stats on ESPN.)
NBCUniversal News Group is announcing a strategic investment in Kensho that includes a larger agreement specifically with CNBC. Kensho’s software will be used to conduct the analysis. Additionally, CNBC will provide Kensho with content — including breaking news — for integration into Kensho’s platform.
“In a news release, the companies said that they would also collaborate on digital products that bring ‘actionable insights and analytics to ordinary investors.'”
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