|Day's Range||8.80 - 8.93|
The second annual Mobile World Congress Americas is underway in California. One of the speakers to kick off the event was FCC Chairman Ajit Pai, who joins The Final round to discuss all things tech.
Phone camera quality has made it possible to identify a location from the reflection in a person's eyeball. This, as well as many other concerns, has arisen with our access to ever-improving tech.
Netflix Inc. is planning to raise another $2 billion in debt as it moves to raise the financing needed for new content as the battle for streaming customers heats up with a slate of new offerings on tap.
The buzz surrounding Apple’s augmented reality headset is getting stronger. On October 21, Bloomberg reported that the company is planning a 2020 release.
(Bloomberg) -- Netflix Inc. sold around $2.2 billion of bonds in the U.S. and Europe as it continues to bolster its original content in the face of expanding competition.Investors bought $1 billion of dollar-denominated bonds and 1.1 billion of euro bonds ($1.2 billion) from the TV streaming company, data compiled by Bloomberg show. Netflix had said Monday it would sell about $2 billion of debt with the proceeds being used for general corporate purposes, including content purchases and production as well as potential acquisitions, according to a statement.The dollar-denominated 10.5-year bonds, which can’t be bought back, will yield 4.875%, down from around 5.125%, according to a person with knowledge of the price talk. The euro notes, which have the same maturity, will pay 3.625%, after initially discussing around 3.875%, the person said, asking not to be identified as the details are private.Netflix issued debt after reporting earnings that beat analyst estimates and saw overseas growth that helped sooth investors’ concerns about a slowdown at home. The company burned through $551 million of cash in the third quarter and is “slowly” moving toward becoming free cash flow positive, Chief Executive Officer Reed Hastings said in a letter to shareholders last week. In the meantime, Netflix will continue to tap the high-yield market for its investment needs, he said.The Los Gatos, California-based company reiterated expectations to burn through $3.5 billion in cash this year as the war for content heats up. It’s been raising prices -- often at the expense of subscriber gains -- in some of its largest territories, trying to shift toward profitability as streaming service competition mounts from companies such as Walt Disney Co., AT&T Inc. and Apple Inc.Netflix has historically relied on the high-yield bond market to finance its growth, typically issuing debt following its first- and third-quarter earnings in April and October, respectively. Its debt load, including operating lease liabilities, has steadily grown to around $13.5 billion since first tapping the market in 2009, according to data compiled by Bloomberg.Netflix has become one of the largest issuers in the U.S. junk-bond market. Its dollar bonds may have a market value in the $10 billion to $10.5 billion area, placing Netflix as the 11th largest borrower in the benchmark Bloomberg Barclays U.S. Corporate High Yield Bond Index, according to Bloomberg Intelligence.What Bloomberg Intelligence Says“Netflix may issue new junk bonds for several more years as proceeds from debt sales fuel not only free-cash-flow deficits, but also repayment of bond principal. While Netflix may not produce free cash flow until 2023, it must address a $500 million bond principal in 2021 and another $700 million in early 2022.”\--Stephen Flynn, corporate credit analystClick here to view the research reportThe company last borrowed $2.24 billion of junk bonds in April, and said that it would reduce its reliance on debt financing at the time. CEO Hastings walked back that language in a July letter to shareholders, saying Netflix planned to still use the high-yield market to fund content investments.Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co., Deutsche Bank AG and Wells Fargo & Co. managed the bond sale, the data show.\--With assistance from Rizal Tupaz, Laura Benitez and Gowri Gurumurthy.To contact the reporters on this story: Molly Smith in New York at email@example.com;Elizabeth Rembert in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Nikolaj Gammeltoft at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Donald Trump's economic adviser Larry Kudlow said, "If the talks go well on phase one, there is a chance we can get those December tariffs off."
The move puts Disney+, which will debut on Nov. 12 in the United States, close to the size of Netflix's 61 million paying U.S. subscribers. Disney shares rose 1.7% to close at $132.55 (102.85 pounds), and Verizon was barely changed at $60.76 on the New York Stock Exchange. Netflix Inc shares fell 4.3% to $266.03 on Nasdaq.
Netflix Inc. is mobilizing ahead of the launch of two big new competitors in November with an armory of 59 new offerings next month, including the arrival of 43 original programs.
US companies are cutting their spending amid an unstable geopolitical scenario. Whether such cuts will lead markets to crash is an intriguing question.
Check out these augmented reality stocks to buy as the space heats up! AR is making waves because of its massive potential in virtually all industries.
What’s coming to Netflix next month includes 43 original programs as competition increases; the company plans to issue more debt to fund new projects
Shares of Apple Inc. (NASDAQ: AAPL ) closed at a record high Monday, but more important to the broader market is that the iPhone maker is lifting "whole groups with them," according to CNBC's ...
The tech giant's removal of an app geared at pro-democracy demonstrators in Hong Kong highlighted its longstanding cooperation with Chinese authorities. And it's not the only company facing challenges like these.
When Microsoft Corp. stopped supporting its Windows XP operating system, the rush to replace aging machines that relied on the older software led to a huge boost to the company’s earnings. For that reason, investors have likely been looking forward to the end of Windows 7 — which arrives in January — for years.
Austrian sensor maker AMS , still has its sights on German lighting firm Osram but is aiming to seal a cooperation agreement before remounting its bid for an all-out takeover, CEO Alexander Everke said on Tuesday. AMS now aims to launch a new bid at the same price of 41 euros a share, valuing Osram at 4.6 billion euros ($5.1 billion), but with a lower acceptance rate of 55%. CEO Olaf Berlien would have preferred to be taken over by private equity groups as they had planned to keep Osram as a standalone company.