|Bid||41.80 x 1000|
|Ask||41.94 x 1800|
|Day's Range||41.83 - 42.69|
|52 Week Range||40.65 - 59.56|
|Beta (3Y Monthly)||1.00|
|PE Ratio (TTM)||5.15|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||0.72 (1.70%)|
|1y Target Est||57.33|
(Bloomberg) -- Secretary of State Michael Pompeo said the U.S. is “working diligently” toward a diplomatic resolution with Iran after accusing the Islamic republic of attacks on Saudi Arabian oil fields, but that President Donald Trump is prepared to take other action if necessary.“Make no mistake about it, if we’re unsuccessful in that and Iran continues to strike out in this way, I am confident that President Trump will make the decisions necessary to achieve our objectives,” Pompeo said on ABC’s “This Week” on Sunday, one of multiple TV appearances ahead of the United Nations General Assembly in New York this week.Top Pentagon officials on Friday said the U.S. will send a “moderate” number of troops to the Middle East and additional missile defense capabilities to Saudi Arabia in response to last weekend’s attack on oil facilities, which disrupted about 5% of global oil production.Iranian Foreign Minister Mohammad Javad Zarif refused to rule out military conflict in the Middle East, saying in an interview Sunday on CBS’s “Face the Nation” that “I’m not confident that we can avoid a war.”Asked whether he’s confident of avoiding a war, Pompeo said, “we’re working towards that.” In a interview airing on CBS, Pompeo said the U.S. will respond in a way that reflects what he called “an attack by Iran on the world” and a “state-on-state act of war.” He said the U.S. is looking for a diplomatic resolution, while “apparently the Iranians are blood-thirsty and looking for war.’’Pompeo said the U.S. maximum-pressure campaign, which includes sanctions on Iran’s central bank and sovereign-wealth fund, is working and that the Iranian economy will shrink by about 10% to 15% this year.Treasury Secretary Steven Mnuchin, in an interview on NBC’s “Meet the Press,” said there’s still room for more sanctions.“Although we’re pretty much maxed out on Iran, we will begin to sanction third-party entities where we see violations,” he said.Republican Senator Lindsey Graham, chairman of the Judiciary Committee, said on Fox News’s “Sunday Morning Futures” that economic sanctions aren’t enough because Iranians “would eat grass if that’s what it took” and that military action is also needed. He suggested targeting Iran’s oil refineries and that Iran knows it would never win a war with the U.S.“I don’t want a war with Iran, but I want them to stop, and the only way they’re going to stop is to pay a price,” Graham said. “And the price I want them to pay is to lose some of their military capability.”(Updates with Graham comments from ninth paragraph.)\--With assistance from Laura Litvan, Tony Capaccio, Glen Carey and Saleha Mohsin.To contact the reporter on this story: Mark Niquette in Columbus at email@example.comTo contact the editors responsible for this story: Joe Sobczyk at firstname.lastname@example.org, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- President Donald Trump said he doesn’t plan to meet Iranian President Hassan Rouhani during the United Nations General Assembly this week, while leaving open the possibility that he might.“Nothing is ever off the table completely, but I have no intention of meeting with Iran,” the U.S. president told reporters at the White House on Sunday. “That doesn’t mean it doesn’t happen. I’m a very flexible person. But we have no intention. It’s not set up.”Trump had talked up the possibility of meeting Rouhani until the attack this month on Saudi oil fields, which the U.S. administration has blamed on Iran, which has denied involvement. Iranian Foreign Minister Mohammad Javad Zarif refused in a CBS interview to rule out military conflict in the Middle East after the U.S. sent more troops and weapons to Saudi Arabia in response to last week’s attack.Treasury Secretary Steven Mnuchin said Sunday it’s doubtful that Trump and Rouhani would meet at the UN sessions that begin on Monday in New York.“The president has always said he’d leave the door open but it’s highly unlikely given the current circumstances,” Mnuchin said in a CNN interview.To contact the reporters on this story: Jennifer Jacobs in Washington at email@example.com;Saleha Mohsin in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: James Ludden at email@example.com, Tony Czuczka, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
LOS ANGELES, Sept 22 (Reuters) - "Game of Thrones" looks set to crown its final season with another best drama series Emmy on Sunday despite an array of new contenders jostling for the most prestigious awards in television. On a night that could see old favorites prevailing over the biggest lineup of first-time nominees in eight years, HBO political satire "Veep" and returning Emmy champ "The Marvelous Mrs Maisel" from Amazon Studios, along with their stars Julia Louis-Dreyfus and Rachel Brosnahan, are seen as frontrunners in the contest for best comedy series. Unless, that is, British comedian Phoebe Waller-Bridge can pull off an upset with one or both of her buzzy shows - female-driven BBC America thriller "Killing Eve" and Amazon comedy "Fleabag," which drew 20 Emmy nominations between them.
(Bloomberg) -- Iranian Foreign Minister Mohammad Javad Zarif refused to rule out military conflict in the Middle East after the U.S. sent more troops and weapons to Saudi Arabia in response to an attack on oil fields the U.S. has blamed on the Islamic Republic.“I’m not confident that we can avoid a war,” Zarif said in an interview with CBS to be broadcast Sunday on its “Face the Nation” program. “I’m confident that we will not start one, but I’m confident that whoever starts one will not be the one who finishes it.”When asked to elaborate, Zarif said: “That means that there won’t be a limited war.”Zarif was interviewed in New York, where he will attend the United Nations General Assembly session. The U.S. said Friday it will send a “moderate” number of troops to the Middle East and missile defense capabilities to the Saudis in response to last weekend’s attack on oil facilities.Iran’s response has been a mix of defiance and an attempt to ease the tension. President Hassan Rouhani said on Sunday the Islamic Republic would lay out a peace initiative for the region at the United Nations General Assembly that would involve a coalition of regional and foreign countries.His overture will likely be met with skepticism in Saudi Arabia and the U.S., where many believe that foreign policy is driven by the hardline Revolutionary Guard Corps. instead of the president and his top diplomat.U.S. and Saudi analyses of the attack have described the strike as complex, involving a mix of low-flying drones and cruise missiles coming from the north. The attack exposed vulnerabilities in Saudi Arabia’s defense capabilities, despite the Kingdom having spent hundreds of billions of dollars on weaponry in recent years.American officials blame Iran for the attack that knocked out half the production of oil from a key Saudi field. Houthi rebels fighting a Saudi-led coalition in Yemen took credit for the attack.“I’m confident that Iran did not play a role,” Zarif said. Anybody who “conducts an impartial investigation will reach that conclusion,” he said.(Updates with Rouhani’s comments in fifth, sixth paragraphs.)To contact the reporters on this story: Steve Geimann in Washington at firstname.lastname@example.org;Arsalan Shahla in Dubai at email@example.comTo contact the editors responsible for this story: James Ludden at firstname.lastname@example.org, Alaa Shahine, Abbas Al LawatiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cokie Roberts, the trailblazing American political journalist, was to the manner born as few who have practised her craft. The daughter of a Louisiana political dynasty, she roamed the halls of Congress as a child with her father, Hale Boggs, who rose to become the Democratic majority leader of the House of Representatives. President Lyndon Johnson and his wife, Lady Bird, attended her wedding.
NEW YORK , Sept. 19, 2019 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City , is investigating potential claims involving the directors and officers ...
In another blow to the vaping industry, CBS Corp., WarnerMedia and Viacom Inc. reportedly said Wednesday that they will no longer air commercials for electronic cigarettes.
(Bloomberg) -- Saudi Arabia said attacks on its critical oil infrastructure were “unquestionably sponsored by Iran” but stopped short of saying the strikes were launched directly from or by the Islamic Republic, claims that could have propelled a drift toward war.With parts of drones and missiles recovered from the attack sites at Abqaiq and Khurais on display, Saudi Defense Ministry spokesman Turki al-Maliki on Wednesday showed maps aimed at proving the strikes originated from the north and could not have been launched by Yemen’s Iranian-backed Houthi rebels, who shortly after repeated their claims of responsibility.“Despite Iran’s effort to make it appear so,” the attack didn’t originate from Yemen, Maliki said. “Data analysis of the attack sites indicate weapons of Iranian origin.”Iran has denied it was involved in the worst attack in Saudi Arabia’s history and President Hassan Rouhani said earlier Wednesday that his country did not want war.The Saudi defense official’s comments, and moves by the U.S., suggested the two allies were also working to deescalate tensions in the region. President Donald Trump, who had initially declared the U.S. “locked and loaded” for a response, said Wednesday he was tightening sanctions on Iran.Iran’s economy is already under severe pressure from existing sanctions, though analysts said there were still a number of potential targets for restrictions. Iran is gradually scaling back its commitments under the deal and has said it will not reopen talks without sanctions relief.Speaking just before landing in Saudi Arabia, Secretary of State Mike Pompeo -- while broadly echoing Maliki’s claims on Iranian involvement -- signaled he was working to build international diplomatic pressure to deter Iran.Twenty-five pilotless aircraft and cruise missiles were used to attack the two sites, Maliki told reporters gathered in Riyadh. The weapons were of Iranian origin but Saudi Arabia was still working to pinpoint the exact launch point, he said. The range and accuracy of the weapons were beyond the capabilities of the Houthis, he added.In comments made immediately after the Saudi briefing, Yemen’s Houthi military spokesman Yehya Saree said some of the drones used were new, with a range of up to 1,700 kilometers, and were launched from three different points inside Yemen. He said the drones fired long-range missiles and warned the United Arab Emirates that it could be also be targeted. The U.A.E. said weeks ago that it was drawing down its role in the Yemen war after four years.Maliki displayed surveillance video purporting to show drones moving in a north to south direction, however. He said Saudi Arabia was working to share the information with United Nations experts.“We are working as I mentioned to determine the exact position of the launch point,” Maliki said. “Whether it’s been launched from Yemen, launched from somewhere else, those people they will be held accountable, and this is a decision at a political level in our country.”Addressing a cabinet meeting, Rouhani said the assault on the oil facilities was carried out by the Houthis retaliating against Saudi Arabia’s military campaign in their country and should serve as a “warning and lesson,” according to state TV.Iran backs the Houthis, one of several militias it supports around the region, from Lebanon to Iraq. The confrontation has sporadically convulsed the Gulf, with the strikes on oil tankers, an American drone and a key pipeline, pushing the region to the brink of open conflict.The U.S. and its Gulf allies “assumed the Iranians would take the maximum pressure without any significant reaction,” said David Roberts, an assistant professor at King’s College London who studies the Gulf. “They’ve all been completely blindsided by the potent nature of the Iranian response.”(Updates throughout with details.)\--With assistance from Josh Wingrove, Dana Khraiche and Zainab Fattah.To contact the reporters on this story: Vivian Nereim in Riyadh at email@example.com;Anthony DiPaola in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Lin Noueihed at email@example.com, Mark WilliamsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
as they seek to top up capital levels to meet tighter regulations, with about Rmb810bn ($114bn) worth of debt issued or in the pipeline. banking sector, in which many banks had invested, put several under stress. has intensified in recent months as Beijing, still grappling with a trade dispute with the US, counts on domestic lenders to stimulate growth.
(Bloomberg) -- Oil plunged nearly 7% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production it lost after this weekend’s attack on a key crude facility in the kingdom.Brent crude dropped to as low as $64.48 a barrel on the report, which cited an unidentified Saudi source saying the OPEC member would return to full production in the next two to three weeks. Energy Minister Prince Abdulaziz bin Salman is scheduled to hold a press briefing on Tuesday evening in Jeddah.Estimates of when, and how much, of the 5.7 million barrels a day of shut output would be back online have fluctuated since the attack. Significant volumes could come back within days, people familiar with the matter said over the weekend, adding that it could still take weeks to restore full capacity. Brent futures rose 19% in a matter of seconds at the open on Monday and ended the day up 15%, their biggest single-day advance.The worst ever sudden disruption to global oil supplies continues to reverberate as geopolitical risk premiums soar on concern over instability in the Middle East and a potential retaliation against Iran, which the U.S. has blamed for the strikes.Brent for November settlement fell $4.09 to $64.92 a barrel at 10:12 a.m. in London. Ten unmanned drones damaged one of the Saudis’ flagship fields and a key processing complex Saturday, triggering one of the wildest bouts of trading seen in oil markets.WTI for October slid $3.48 to $59.42 a barrel, after declining as much as 5.6% The U.S. benchmark’s discount to Brent for the same month narrowed to $5.54.Saudi Aramco is firing up idle offshore oil fields -- part of its cushion of spare capacity -- to replace some of the lost production, a person familiar said earlier. Customers are also being supplied using stockpiles, though some are being asked to accept different grades of crude. The kingdom has enough domestic inventories to cover about 26 days of exports, according to consultant Rystad Energy A/S.The disruption surpasses the loss of Kuwaiti and Iraqi petroleum output in August 1990, when Saddam Hussein invaded his neighbor. It also exceeds the loss of Iranian oil production in 1979 during the Islamic Revolution, according to the International Energy Agency.To contact the reporters on this story: David Marino in New York at firstname.lastname@example.org;Sheela Tobben in New York at email@example.comTo contact the editors responsible for this story: David Marino at firstname.lastname@example.org, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Apple Inc. is getting ready to launch its own streaming-video service, Apple TV+, in the coming weeks. Compared to Netflix and other rival offerings, the new app will feature a rather skimpy lineup of viewing choices. That’s reigniting the will-they/won’t-they debate around Apple and the handful of Hollywood studios that look ripe for an acquisition.The tech giant announced this week that Apple TV+ will launch on Nov. 1, beating Walt Disney Co.’s rival product to the market by 11 days. Apple TV+ will cost $4.99 a month, which is $2 less than Disney+, and on the face of it, significantly cheaper than Netflix and AT&T Inc.’s HBO Max, set to debut next spring. What’s more, Apple will let customers have the service free for a year when they purchase an iPhone, iPad, Mac or Apple TV console. Much has been made of Apple TV+ undercutting competitors, but the price was set low to make up for the fact that, unlike rival services, it won’t contain a backlog of content out of the gate. Disney and AT&T both own immense libraries of films and TV shows and can stuff them into their streaming services even as they work to produce new original content exclusively for app subscribers. Remember, Disney owns Marvel, Pixar, “Star Wars,” “The Simpsons,” National Geographic and so on, while AT&T acquired Warner Bros., HBO and Time Warner’s other television networks last year. Apple TV+, on the other hand, will contain just nine originals on Day One and nothing else. Apple’s lack of a library argues for the company to buy a production studio. Lions Gate Entertainment Corp. (which also owns the Starz premium channel), Metro-Goldwyn-Mayer Studios Inc. (known as MGM), Sony Pictures and indie studio A24 are all prospects. Even a combined Viacom Inc. and CBS Corp. – two content companies that are in the process of merging – could be an appealing option given their diverse set of assets, including Paramount Pictures, MTV, BET, Nickelodeon and Showtime. (Shari Redstone, the billionaire who controls Viacom and CBS, would likely be a willing seller.)(1)It all depends, though, on how Apple CEO Tim Cook sees streaming video fitting into the company’s future. Is the goal to build a bona fide competitor to Netflix, available on anything with a screen? Or is Apple TV+ a loss leader meant to help drive sales of Apple devices? This week’s unveiling seemed to suggest the latter. After all, Apple’s revenue from iPhones decreased by $19 billion in the latest fiscal year, my colleague Shira Ovide noted in her column this week. In 2017, she wrote that Apple should try bundling software – such as video and music subscriptions – with its hardware to help boost sales. Apple is essentially doing just that by giving TV+ as a freebie for buying a new Apple product. “They’re doing it to sell hardware,” Marci Ryvicker, an analyst for Wolfe Research, said in a phone interview. “This isn’t Apple’s core business.”It’s noteworthy that Cook, while on stage Tuesday, compared the Apple TV+ fee to the cost of renting a single movie on demand – not to the price of other streaming subscriptions. That may provide some insight into his thinking. At $5 a month, Apple TV+ is also a long ways from making any money. That’s another reason it looks more like an internet add-on than a stand-alone product intended to take on Netflix, a business running on negative cash flow and junk debt. The cost of going all-in on streaming is steep. Disney, for example, doesn’t think its own $7-a-month app will start turning a profit until 2024, by which point it expects to have at least 60 million global subscribers. Even then, Ebitda for Disney+ may be just $51 million, a paltry 1% profit margin, according to a model by Alan Gould, an analyst for Loop Capital Markets. In 2025, he sees that figure jumping to $2.6 billion, though it still pales in comparison to the roughly $10 billion of Ebitda that Disney’s traditional TV and film businesses generate.Still, some analysts see Apple TV+ topping 100 million subscribers within five years, and it’s already planning to spend billions of dollars on content. It could be that Apple doesn’t know exactly what it wants from Apple TV+ yet. If it turns out to be successful early on, that may be what leads Cook to acquire a studio. Dan Ives, an analyst for Wedbush Securities, made the same bold prediction at the start of the year, and he told me this week that he’s sticking to it.“Right now, they’ve built a house with no furniture,” said Ives, who interprets Apple’s aggressive pricing strategy as a sign that it’s changed its past thinking and is ready to commit to streaming content in a big way. “It’s hard to envision them being massively successful in streaming without doing a major acquisition.”I agree. The question is, does it plan for Apple TV+ to be massively successful? This week may have signaled “no,” but when it comes to M&A, never say never. (1) Viacom is also said to be the front-runner to buy a stake in Miramax films.To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Viacom Inc., the media company that’s combining with CBS Corp., has emerged as the front-runner to buy a stake in Miramax films, which owns award-winning pictures such as “Pulp Fiction,” people familiar with the matter said.Another bidder, Lions Gate Entertainment Corp., has dropped out of the process to focus on its core business, though it’s possible the company could come back, said one of the people, who asked not to be identified because the discussions are private. Talks are ongoing and there’s no guarantee a deal will be reached. The parties have discussed a price in the nine-figure range, or at least $100 million, the people said.A deal would give Viacom a stake in more than 700 titles, including four best-picture Oscar winners, and an interest in future productions, such as Guy Ritchie’s “The Gentlemen,” with Matthew McConaughey. Viacom is the parent of MTV and Comedy Central, along with the Paramount Pictures film and TV studio. BeIN Media Group, the Qatar-based owner of Miramax, began seeking investors earlier this year.The owners are looking to capitalize on soaring demand for film and TV assets, driven by new streaming services from companies like Walt Disney Co., NBCUniversal, Apple Inc. and AT&T Inc. Viacom and CBS, both controlled by the Redstone family, are merging to gain clout in this environment. Spyglass Media Group, the company formed through the acquisition of Weinstein Co. assets, dropped out of the process earlier.Viacom shares fell 1.5% to $26.15 in late trading in New York, while Lions Gate rose 6% to $11.67.Deal HuntA spokesman for BeIN declined to comment.The combined Viacom and CBS has been expected to seek other deals that bolster its portfolio. In March, New York-based Viacom acquired Pluto TV, an internet-based TV programmer, for $340 million.“While there is concern that ViacomCBS would be an aggressive buyer, in our discussions, we came away with a strong belief that the company would be ‘opportunistic’ and ‘disciplined,’” analysts at MoffettNathanson LLC said in a note this month.Lions Gate, meanwhile, has been trying to raise capital for the international expansion of its Starz premium cable network.Miramax was acquired by BeIN from Colony Capital in 2016 and is pursuing a revival under Chief Executive Officer Bill Block, the founder of Artisan Entertainment. Last year, the company co-produced a remake of “Halloween” to revive and extend the popular horror film series. But the library remains the key prize.Colony and other investors acquired Miramax in 2010 for $660 million. The independent studio was founded in 1979 by Harvey and Bob Weinstein, who sold it to Walt Disney in 1993. The brothers went on to found the Weinstein Co. in 2005, which went into bankruptcy last year after revelations of sexual misconduct by Harvey Weinstein.(Updates with shares prices in fifth paragraph)To contact the reporters on this story: Anousha Sakoui in los angeles at email@example.com;Nabila Ahmed in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The CBS outlet in Chicago is making news personnel changes in hopes of boosting the station's low news ratings.
CBS (CBS) and Viacom (VIAB) have announced they will be merging in a stock deal, setting up an attractive value play in media, explains Chuck Carlson, dividend expert and editor of DRIP Investor.
(Bloomberg) -- The hit CBS Corp. comedy “Young Sheldon” about a child genius, wasn’t so smart when it came to a mock tornado warning, according to the Federal Communications Commission.Even modified, the tornado warning sounded too much like the Emergency Alert System, which is a violation of agency rules, the agency said. It’s proposing a $272,000 fine for the network’s April 12, 2018, episode, according to a notice on the FCC website. CBS will get a chance to respond before any fine is imposed.The FCC is cracking down on what it says are potentially dangerous uses of the emergency alerts in television shows. The alerts are used to warn the public about emergency events like dangerous weather. Using them in television shows could confuse listeners and is a “serious public safety concern,” the agency said.Last month, the FCC lobbed a $395,000 penalty against ABC over the use of an alert during a comedy sketch on “Jimmy Kimmel Live!,” $68,000 against Discovery Communications Inc. for an Animal Planet episode and $104,000 against AMC Networks Inc. for two episodes of “The Walking Dead.”The “Young Sheldon” episode aired on 227 television stations, including 15 owned and operated by CBS, according to the FCC. The show is a crossover of “The Big Bang Theory,” telling about the childhood of “Big Bang” character Sheldon Cooper.To contact the reporter on this story: Susan Decker in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, Wendy BenjaminsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Donald Trump took the presidency vowing to bring his deal-making savvy to American foreign policy, yet his love for grand gestures and personal diplomacy has fallen short with North Korea, China and the Mideast.Now Afghanistan can be added to the list. In a series of tweets on Saturday night, the president dispatched with a secret plan to host Taliban and Afghan leaders at his Camp David retreat this weekend ahead of the anniversary of the Sept. 11, 2001, terror attacks. He wanted to talk directly with Taliban negotiators, Secretary of State Michael Pompeo said Sunday on CBS, one of five TV interviews.“I want to look them in the eye,” the president said, according to his top diplomat. That would be reminiscent of his approach to China’s Xi Jinping and North Korea’s Kim Jong Un, but with just over a year before the 2020 elections, Trump’s personal brand of diplomacy has few successes to point to.“So far, his foreign policy bluster has produced little,” said James Dorsey, senior fellow at Singapore’s S. Rajaratnam School of International Studies. “North Korea is not backing off nuclear weapons, Iran is proving resilient and defiant, and the ‘Deal of the Century’ looks more like a stillborn baby.”The White House rejects that assessment, saying that major foreign policy achievements have historically taken more than just months to pull together.“The president isn’t afraid to try and tackle hard problems whereas most politicians run away from them,” said Judd Deere, a White House deputy press secretary.The Afghanistan move capped a tough week. On Friday, the president’s envoy to North Korea talks said negotiations have been stalled for months. On Thursday, Middle East envoy Jason Greenblatt announced his intention to depart; the vaunted Israeli-Palestinian peace plan he’s been working on has yet to be unveiled. The U.S.-China trade war drags on.Pompeo defended the president’s setbacks as signs of strength, the early price to pay for taking on intractable issues.“It’s going to take more than words,” Pompeo said. “He walked away in Hanoi from North Korea, they wouldn’t make a deal that made sense for America. He’ll do that with the Iranians. When the Chinese moved away from a trade agreement they promised they would make, he broke off those conversations too.”If the president wants to rack up some wins, here’s where he’ll have to shift the momentum.Afghanistan Trump campaigned on a vow to pull U.S. troops from intractable conflicts, a description exemplified by the Afghan war, where American forces have been mired for almost 18 years. But while Trump raised U.S. troops levels in Afghanistan early in his term to about 14,000, the Taliban forces are now at their strongest levels since being ousted from power a generation ago. Even many Republicans fear that a withdrawal could give the fundamentalist group a pathway to power, or allow al-Qaeda or Islamic State to regroup.U.S. strategy “appears to be let’s get the best deal that we can, making perfectly clear that we’re getting out irrespective of what precisely that deal looks like,” Richard Fontaine, the chief executive officer of the Center for a New American Security, said at an event in Washington on Monday.For now, the administration says, talks are over and the U.S. envoy brokering the would-be deal, Zalmay Khalilzad, has been recalled to Washington. Pompeo said the administration will keep working hard to forge an agreement, but Trump may have to decide if he starts a draw-down without winning any Taliban concessions.North KoreaAfter a year of heightening tensions over North Korean missile and nuclear tests in 2017, Trump made a historic gamble to meet Kim Jong Un in Singapore. With a short, vague agreement in hand, the two leaders went on to have two more meetings. They met in Vietnam in February, and in June, Trump stepped across the border into North Korea for a brief time, the first American president to do so. Since then? Nothing.Trump’s special envoy for North Korea talks, Stephen Biegun, said Friday he’s ready to engage, “but we cannot do this by ourselves.” Since the last Trump-Kim meeting, North Korea has ignored U.S. entreaties to negotiate and has instead conducted a wave of short-range missile tests banned by the United Nations, while complaining about U.S.-South Korea military exercises. With the two sides unable to reach an agreement on what “denuclearization” even means, analysts say Pyongyang’s nuclear and missile production has continued.Middle East PeaceA day before his inauguration, Trump tasked his son-in-law, Jared Kushner, with producing the “deal of the century”: peace between Israel and the Palestinians. Kushner labored in secret, shuttling across the Mideast with the president’s former top lawyer at the Trump Organization, Jason Greenblatt.On Thursday, with the peace plan yet to come, Greenblatt said he intends to step aside in the near future, although he’s expected to stay at the White House at least until the plan is revealed. Over two years, Trump made a series of concessions that bolstered Prime Minister Benjamin Netanyahu’s agenda -- including moving the American embassy to Jerusalem, and recognizing Israeli sovereignty of the Golan Heights -- while doing nothing to lure Palestinians to the table. The administration said a peace plan is still forthcoming, but Palestinians have already ruled out talks with Trump’s team.IranMore than a year after Trump quit the 2015 nuclear accord with Iran, the Islamic Republic is feeling the pain of ever-tightening sanctions. But that hasn’t been enough to force them back to the negotiating table, as Trump says he wants, and the U.S. has won little support for its “maximum pressure” campaign.American allies have been so alarmed at the administration’s approach -- even as they decry Iranian behavior in the Middle East -- that they’ve largely declined to join a U.S.-led initiative to strengthen security in the waters of the Persian Gulf, a bottleneck for global oil supplies. When Trump did reach out to allies -- saying he’d back French President Emmanuel Macron’s proposal to extend a “letter of credit” to Iran, secured by oil -- his aides quickly walked those comments back.Iranian President Hassan Rouhani and Trump could still meet on the sidelines of the UN General Assembly gathering in New York later this month, but Iranian leaders have said they aren’t interested in a “photo op,” a veiled reference to the president’s three meetings with Kim.ChinaTrade wars are “easy to win,” Trump has said, but so far winning has been scarce when it comes to China. Expectations are low for a round of trade talks expected to take place in early October. That’s left the latest round of U.S. and Chinese tariffs in place, with the U.S. poised to raise various levies on Oct. 1 and on Dec. 15, when China plans additional tariffs as well.With a stalemate continuing, Trump’s aides have argued he has the power to force American companies to leave China, as he suggested in August. Meanwhile, the International Monetary Fund estimates that the current and upcoming tariffs will shave about 0.8% off global gross domestic product growth in 2020.VenezuelaU.S. efforts to oust Venezuelan President Nicolas Maduro early this year appeared to have momentum, with more than 50 nations recognizing National Assembly leader Juan Guaido and, initially, cutting contacts with Maduro’s regime. But that momentum has stalled. Venezuelans have suffered under brutal inflation and a scarcity of basic goods and medicine, despite living in a country with the world’s biggest oil reserves. Maduro has maintained the military’s support and efforts to rally the often-divided opposition in the streets have fizzled.(Adds analyst’s comments in Afghanistan section)\--With assistance from David Wainer.To contact the reporters on this story: Nick Wadhams in Washington at firstname.lastname@example.org;Glen Carey in Washington at email@example.com;Jennifer Jacobs in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Bill Faries at email@example.com, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
I am not always right, and I almost never recommend momentum stocks.Source: AhmadDanialZulhilmi / Shutterstock.com But when I called Roku (NASDAQ:ROKU) an "interesting speculative play" in June 2018, I was underestimating myself.If you grabbed some shares at that time, you've hit a home run. At that point, ROKU stock price was about $40. Now trading around $170, Roku stock has a market cap of $17.6 billion. That's more than Discovery Networks (NASDAQ:DISCA), and more than CBS (NYSE:CBS).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Industrial Stocks to Buy for a Strong U.S. Economy What's going on is consumers are shutting down their cable and rushing to embrace streaming, a.k.a, "Netflix (NASDAQ:NFLX) and chill." Roku's streaming stick, which is at the heart of its TV offerings, is a gatekeeper to this new world. Buy one, plug it into your WiFi, and you can buy all the entertainment you could ever wish for. Don't Look at NumbersIf you're the kind of investor who looks at numbers, however, ROKU made no sense even when I first recommended it.Roku's most recent earnings report, delivered July 17, showed a loss of $10 million on revenue of $250 million. Its revenue was up 59% year-over-year. Its active account total jumped 39%. Revenue from advertising and services, which it calls "platform revenue," was up a staggering 86%.Still, why would investors pay 20 times revenue for Roku stock? For the same reason former Microsoft (NASDAQ:MSFT) CEO Steve Ballmer paid $2 billion for the Los Angeles Clippers. Rarity.The Clippers are one of two NBA franchises in Los Angeles, the nation's largest market. ROKU is now the largest streaming stick provider, with 39% of the market. Amazon.com (NASDAQ:AMZN) has 30% of the sector. Mighty Alphabet (NASDAQ:GOOGL) and Apple (NASDAQ:AAPL) have been left behind, and the market is maturing rapidly. A Takeover of Roku LoomsRoku's strength is based on its independence, but even at its present valuation, ROKU is no position to resist a determined acquirer.Roku's success makes Comcast (NASDAQ:CMCSA) and Charter (NASDAQ:CHTR) irrelevant to their customers. It has left most of the Cloud Czars in the dust. Investors who buy the shares, at any price, suddenly become a gatekeeper to entertainment for a generation. That's the argument analysts at Market Realist are selling, comparing Roku directly to Netflix.The comparison sounds valid. ROKU is now roughly where Netflix was 4 years ago, just about to make its turn toward international growth. It doesn't yet break out international numbers, but its ambitions are obvious. ROKU collects data directly from consumers, which drives its choices on what to offer through its own, ad-supported Roku channel.On the other hand, streaming is an easy hack. As Roku's own shareholder letter notes, anyone can easily stream from a game machine like the Microsoft Xbox or the Sony (NYSE:SNE) PlayStation. There are tens of millions of such devices in consumers' living rooms. Apple, Google and Amazon are all out there, along with Tizen, an open-source project backed by Samsung (OTCMKTS:SSNLF) and Intel (NASDAQ:INTC).ROKU is not Netflix. It does not have nearly the control over future streaming that Netflix has.But it is in a very powerful position. It's sitting at a poker table with 19 chips, next to players who have hundreds of them, and it has a hand with four aces.Roku probably has a year or two to cash in its chips, maybe to one of its cable rivals, maybe to Disney (NYSE:DIS), maybe to one of the Cloud Czars. They're all facing a build-or-buy decision, but when one (or more) decides to spend whatever it takes to take out ROKU, watch out.Today's investors are betting that it knows when to cash in.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AAPL, MSFT and AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 3 Artificial Intelligence Stocks to Buy * 7 Industrial Stocks to Buy for a Strong U.S. Economy * 3 Beaten-Down Bank Stocks to Buy and Hold for the Long Term The post Roku Stock Looks Poised to Be Acquired appeared first on InvestorPlace.
The Georgia Hispanic Chamber of Commerce picked its 50 "most influential" Latinos in the state.
NEW YORK , Sept. 6, 2019 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced that David Nevins , CBS' Chief Creative Officer and Chairman and CEO of Showtime Networks Inc., will participate ...
Jerry Jones claims the NFL can get 50% more from its next TV contracts than it did last time around – thanks to sports betting legalization.
Nissan has become an official partner of the NCAA and an official corporate partner of NCAA Men’s Basketball and the Final Four.
CBS Corporation (NYSE:CBS) stock is about to trade ex-dividend in 4 days time. Ex-dividend means that investors that...