What you need to know on Wall Street today

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Here's what else is happening today:

• Regeneron’s coming late to a group of drugs that’s already worth billions — here’s why the company thinks it can still compete
• This is what happened to the missing AppNexus IPO — it's partly Snapchat's fault
• This VC's first investment was in a pre-IPO Salesforce — now he thinks he's found the next big thing
• After a rough 2017, things are looking up for ad agencies in 2018
• Small brands and influencers are worried that Instagram is choking off their traffic — just like Facebook did with publishers
• Disney thinks it has a big advantage in its coming war with Netflix — but Wall Street is split on whether it has the right battle strategy
• An analyst says MoviePass could spark 'new and innovative strategies' for theaters after buying $110 million in tickets in 2017

Lastly, here are 10 luxury hotels around the world where the ultra rich love to stay.