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Nasdaq rockets to new high, powered by FAANG

The Nasdaq rockets to new highs as FAANG names fuel tech. Plus, it’s clash of the titans, mogul style. Why Disney versus Comcast isn’t over yet. And what’s the next recession going to look like, and how do you protect yourself? Plus, are half the S&P 500 companies under threat from digital disruption? Author Nikki Barua on how legacy firms can fight back. Catch The Final Round at 3:55 ET p.m. with Jen Rogers, Yahoo Finance markets correspondent Myles Udland, and Yahoo Finance Editor-in-Chief Andy Serwer.

Winners and losers

Stocks in the red include La-Z-Boy as the furniture company’s earnings topped expectations, but revenue missed the mark, Oracle as the database and cloud software firm’s guidance missed the mark, and said it would stop providing a revenue breakout for its cloud business, and Starbucks — shares are getting roasted as the coffee chain announced comp store sales growth that missed Wall Street estimates, and that it would close 150 U.S. stores.

Stocks in the green include the Walgreens as the pharmacy chain will replace GE on the Dow Jones Industrial Average, Winnebago as the RV maker beat on both the top and bottom lines,  and Tesla — shares getting a boost after a rough couple days as Business Insider reports internal documents reveal the automaker has made 6,000 Model 3 cars so far in June.