133.63 +0.33 (0.25%)
Pre-Market: 6:11AM EDT
|Bid||133.46 x 1300|
|Ask||133.68 x 900|
|Day's Range||133.00 - 137.36|
|52 Week Range||100.35 - 147.15|
|Beta (3Y Monthly)||0.73|
|PE Ratio (TTM)||17.16|
|Earnings Date||Nov 6, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||1.76 (1.32%)|
|1y Target Est||151.77|
Netflix co-founder says competitive streaming pricing is a "great thing" as Apple TV+, Disney+ prep November launches
Disney stock is setting up a new buy point as the media giant plows ahead. Here is what the fundamentals and technical analysis say about buying Disney now.
"I believe that if Steve were still alive, we would have combined our companies, or at least discussed the possibility very seriously," the Disney chief writes in his memoir.
Following yesterday's interest rate cut by the Federal Reserve, which may have left market participants with more questions than answers, stocks meandered for most of Thursday with the major U.S. indexes not doing much of anything in either direction.Source: Venturelli Luca / Shutterstock.com Still, the S&P 500 is within 1% of its record highs, so there could be more upside to be had over the near-term, particularly as we get into October and get more, hopefully positive, news on the trade talks with China. * 8 Dividend Stocks to Buy for a Recession When the closing bell sounded today, the Nasdaq Composite was higher by 0.07% while the S&P 500 was unchanged. The Dow Jones Industrial Average slipped by just 0.19%. In late trading, half of the Dow's member firms were trading higher.InvestorPlace - Stock Market News, Stock Advice & Trading Tips A DJIA Stock Rewarding InvestorsMany investors love dividends and plenty love share buybacks. Put those two themes together and there's usually a positive reaction, hence why Microsoft (NASDAQ:MSFT) was the Dow's leading performer today, gaining 1.84%.Microsoft, which has been become a dividend growth story in recent years, boosted its payout by 11% while noting it will repurchase another $40 billion worth of its stock. The company's new dividend yield is just 1.33% and Microsoft holds plenty of cash on hand so it can raise dividends and buyback shares as it sees fit, and do so over the long-term. Boeing's BackBoeing (NYSE:BA) makes an almost daily appearance on the Dow Jones Today roundup. The shares were lower by about half a percent as traders discussed the fate of the stocks come October, a month that looks like it's going to be a vital one for Boeing investors."CEO Dennis Muilenburg is headed to Washington. He received an invitation to testify before the House Committee on Transportation and Infrastructure on Oct. 30," reports Barron's. "This is the same committee that grilled FAA officials about its approval process for new planes as well as its decision to ground Boeing's 737 MAX jet back in May."No promises, but there's a chance Muilenburg's October congressional testimony will provide some clues about Boeing's ability to get the 737 MAX back in the skies by the end of this year. Bad EntertainmentFor much of this year, Walt Disney (NYSE:DIS) has provided investors with some good theater, but that wasn't the case Thursday as shares of Disney slid 2.57%, making the stock the worst performer in the Dow. There's still a lot to like with Disney stock, but there are some challenges from the film business, which has been a key driver of the stock's performance this year.Imperial Capital analyst David Miller said in research out today that there are some issues surrounding Disney's ability to work through the backlog of films it acquired via its purchase of 21st Century Fox. That is weighing on box office performance for some of those movies. The analyst slightly lowered his Disney price target to $139 from $140. Dow Bank NewsIt closed slightly lower today, but Dow component JPMorgan Chase (NYSE:JPM) continues to look like one of the stronger banking names and could be on the cusp of a breakout."They are the gold standard of the banking industry. They have a strong leadership team, and they're benefiting from the tax overhaul. But nobody's even recognizing that," said Michael Bapis, managing director of Vios Advisors at Rockefeller Capital, in an interview with CNBC. Bottom Line: Sorting Things OutFor investors that like interest rate cuts, more may be coming even though yesterday's Fed minutes indicated the Fed is divided on that issue."A big question for us was whether Jerome Powell still considered rate cuts to be 'midcycle' adjustments," said Morningstar in a new note. "Though Powell avoided directly answering the question, we got the sense the cut was more of the midcycle variety, rather than the 'beginning of a lengthy cutting cycle.' We still view at least one or two more cuts over the next year as the most likely outcome."Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Stocks to Buy for a Recession * 10 Companies Making Their CEOs Rich * The 7 Best S&P 500 Stocks of 2019 So Far The post Dow Jones Today: Boring Post-Fed Action appeared first on InvestorPlace.
DOW UPDATE Dragged down by declines for shares of Walt Disney and Home Depot, the Dow Jones Industrial Average is falling Thursday afternoon. Shares of Walt Disney (DIS) and Home Depot (HD) are contributing to the blue-chip gauge's intraday decline, as the Dow (DJIA) was most recently trading 72 points, or 0.
DOW UPDATE The Dow Jones Industrial Average is nearly flat Thursday afternoon with shares of Walt Disney and Apple Inc. facing the biggest declines for the price-weighted average. The Dow (DJIA) was most recently trading 2 points (0.
(Bloomberg Opinion) -- AT&T Inc. CEO Randall Stephenson seems to be coming around to the right idea that the wireless carrier would be better off without its shrinking DirecTV business. Oddly enough, his decision could hinge on a legal trial in December that has little to do with his company but everything to do with how far antitrust regulators can be pushed in the Trump administration.It was the $67 billion takeover of DirecTV four years ago that first turned AT&T into a diversified communications conglomerate. Stephenson overpaid and underestimated how quickly the satellite-TV service would lose subscribers to cheaper online alternatives. With AT&T now squarely focused on expanding its 5G wireless network and integrating HBO and the other WarnerMedia assets it acquired last year, the company is finally considering parting ways with DirecTV, the Wall Street Journal reported Wednesday, citing unidentified sources. The pivot comes as activist investor Elliott Management Corp. puts pressure on Stephenson and AT&T’s board to streamline its operations. I explained in January how a sale of DirecTV might help AT&T pay down its mountain of debt more quickly and remove a cloud over its stock price. AT&T also has far too many pay-TV products, and it’s already started to play down the DirecTV brand by changing the name of DirecTV Now, a skinny live-TV streaming platform, to AT&T TV Now:One option is spinning off the unit into a separate publicly traded entity, though it’s hard to see the appeal for investors of a stand-alone DirecTV. It wouldn’t have the same advantages AT&T gets through its scale and simultaneous control of popular programming. For example, HBO went dark on Dish Network Corp.’s satellite-TV services last year because of a carriage dispute between the companies, leaving many HBO fans the choice to either switch to DirecTV or subscribe to the HBO Now app for $15 a month — both properties of AT&T. DirecTV has also lost customers rapidly while turning to desperate price increases to shore up profit margins.AT&T’s other option for unloading DirecTV is to combine the business with Dish, which is beset by the same industry challenges. Charlie Ergen, the billionaire who controls Dish, said in an interview in July that he sees “industrial logic” for putting the two together. They could substantially cut costs, and the added cash flow would aid Ergen in his efforts to build a nationwide wireless network.Regulatory friction is seen as the biggest obstacle to a DirecTV-Dish merger, with Reuters reporting Wednesday that the companies aren’t discussing a deal for that reason. But the way I see it, Stephenson and Ergen may just be awaiting the outcome of T-Mobile US Inc.’s attempt to buy Sprint Corp., as I wrote in June. Should that deal proceed, it would set a precedent for allowing the merger of two direct competitors in a highly concentrated market. So far, T-Mobile and Sprint — the No. 3 and No. 4 U.S. wireless carriers, respectively, behind AT&T and Verizon Communications — have received clearance from both the U.S. Department of Justice’s antitrust division and the Federal Communications Commission. However, 18 state attorneys general — and counting — have joined a lawsuit to block the transaction on the grounds that it will lead to higher prices for consumers, discourage industry innovation and hurt workers. The trial is set to begin Dec. 9.(1) A triumph by the companies may embolden Stephenson and Ergen. They could even argue that the pay-TV market isn’t as concentrated, with numerous new streaming-TV apps posing competition to the traditional distributors. Walt Disney Co. has constructed a $13-a-month bundle for Disney+, Hulu and ESPN+ that almost rivals denser cable-TV packages in content, and certainly does in price. The wild card, of course, is President Donald Trump. It’s been reported that he tried meddling in AT&T’s takeover of Time Warner, a unit now called WarnerMedia, because of personal grievances with the news network CNN, one of the assets AT&T inherited in the deal. As for DirecTV and Dish, “the biggest ‘regulatory’ obstacle may be the president and his undying desire to punish CNN,” analysts for New Street Research wrote in a report Thursday. Stephenson said in December 2016, when AT&T was integrating the DirecTV purchase, “We did DirecTV not because we love satellite technology, but because it gave us access to some premium content.” It’s a refrain both he and his deputy and heir apparent, John Stankey, have repeatedly recited. But the subsequent $102 billion acquisition of WarnerMedia gave AT&T all the premium content it needs. DirecTV is just a distraction now. (1) Ergen also plays a key role in the T-Mobile-Sprint merger trial. The carriers were required by the Justice Department to divest certain assets to Dish so that it can enter the wireless market and foster competition.To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Daniel Niemi 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.
Video-streaming space gets increasingly crowded as Comcast and Facebook join the bandwagon. However, intensifying price war and fight for exclusive rights are threats.
Disney CEO Bob Iger has left Apple's board of directors as the Disney+ and Apple TV+ video services prepare to go head to head.
Imperial Capital’s David Miller cut his fourth-quarter earnings-per-share estimate—for the second time—to account for what he estimates will be $900 million in losses.
If Steve Jobs hadn’t died, “we would have combined our companies, or at least discussed the possibility very seriously,” Iger wrote in his memoir.
Shares of Roku (NASDAQ:ROKU) officially entered bear market territory yesterday, dropping over 20% from the recent highs at the $170 area. But the red-hot rally that took ROKU stock to such lofty levels was arguably way overdone. And in a similar fashion, the unrelenting selling in ROKU stock is getting a little overdone as well.Source: Michael Vi / Shutterstock.com What all that means is that it's time to position to be a buyer of Roku on any further weakness.The competition in the fiercely competitive streaming space just got taken up a notch yesterday, leading to yet another plunge in the ROKU stock price. Comcast (NASDAQ:CMCSA) announced it will give a free streaming box to current subscribers, while Facebook (NASDAQ:FB) introduced Portal TV.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis follows on the heels of such heavyweights as Apple (NASDAQ:AAPL), Disney (NYSE:DIS) and Amazon making a move into internet media. While competing with the big boys can certainly crimp margins, ROKU does have the first mover advantage. Over 1/3 of all smart TVs now come with ROKU already installed.Michael Morris of Guggenheim upped his price target yesterday from $119 to $180, citing under-appreciated international growth opportunities. He also noted that ROKU is in a rare win-win-win-win arrangement with hardware manufacturers, consumers, content providers and advertisers. Although the upgrade was ill-timed given the massive drop in ROKU stock, the long-term thesis still remains valid.It's important to also remember that ROKU had a huge earnings beat last quarter. The company reported an earnings loss of 8 cents, much better than expectations for a loss of 23 cents. Revenues were also presentable, coming in at $250 million versus the $225 million analyst consensus. ROKU also raised its full-year guidance. The recent carnage in ROKU stock, however, has all but wiped out the gains made post earnings. ROKU Stock ChartsROKU is looking decidedly oversold from a technical perspective. Its 5-day RSI is now below 20 and at levels that have signaled a significant low in the past. Its MACD just reached the lowest reading of the year. Downside momentum is getting extremely bearish, while Bollinger Percent B is nearing negative. Meanwhile, ROKU stock held the 50-day moving average, while the 100-day average of $108.58 should provide additional downside support.ROKU saw some unusual option activity as well yesterday. Nearly 4,500 Sep 27 $140 calls traded versus only 261 open interest. This type of aggressive call buying likely means some big-time player is positioning for a pop in the ROKU stock price.The huge drop in ROKU yesterday -- nearly 14% -- also drove up implied volatility. This means option prices are more expensive, favoring selling strategies when constructing trades. So to position to be a buyer of ROKU at even lower levels, an out-of-the-money bull put spread makes strategic sense. Trade Idea for ROKUBuy the ROKU Nov $95 put and sell the ROKU Nov $100 put for a $1 net credit.The maximum gain on the trade is $100 per spread with maximum risk of $400 per spread. Return on risk is 25%. And the short $100 strike price provides a 23% downside cushion to the $123.98 closing price of ROKU stock.Tim may hold some of the aforementioned securities in one or more of his newsletters. Anyone interested in finding out more about Tim and his option-based strategies can go to https://marketfy.com/item/options-and-volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Stocks to Buy for a Recession * 10 Companies Making Their CEOs Rich * The 7 Best S&P 500 Stocks of 2019 So Far The post Trade of the Day: Roku Stock Is More Attractive After Latest Rout appeared first on InvestorPlace.
Walt Disney World's major revamp of Disney's Hollywood Studios theme park has included lots of factors such as new themed areas, rides and shows — and now, stores. The theme park has revamped two of its retail shops — Keystone Clothiers and Legends of Hollywood — to follow the upgrades the theme park has welcomed over the year, most notable, Star Wars: Galaxy's Edge. Here's more from the Disney Parks Blog: The park also is working on a new attraction, Mickey & Minnie's Runaway Railway, which is set to open next year.
The majestic, rust-coloured sandstone rock, a symbol of Australia, is a sacred site for the Anangu — the local Aboriginal people who have advocated a climbing ban for decades. Recent photographs showing long lines of visitors snaking up the sides of Uluru have raised unsettling questions about the cultural insensitivity of foreign tourists and the failure of some white Australians to respect the wishes of indigenous people. “It is an extremely important place, not a playground or theme park like Disneyland,” said Sammy Wilson, an Aboriginal elder, when the ban was announced two years ago.
Apple Inc. and the Walt Disney Co. could have merged had Steve Jobs not died, Disney Chief Executive Bob Iger believes.
Roku (ROKU) shares closed down almost 14% on Wednesday as social media giant Facebook (FB) announced that they would be jumping on the streaming bandwagon.
Walt Disney World's Epcot will say farewell to its IllumiNations: Reflections of Earth at the end of this month and welcome a new production. Epcot Forever will debut on Oct. 1 at the theme park and introduce a series of new elements to the nighttime show that appear to be a must-see for guests. "Epcot Forever will be an all-new, limited-time spectacle of fireworks, music, lighting, lasers and choreographed special effects kites," said a post on the Disney Parks Blog.
With new details pouring in about forthcoming digital video services from Apple Inc. and NBCUniversal, and blockbuster licensing deals at Netflix Inc. and HBO Max, the streaming wars are heating up. Apple (NASDAQ: AAPL) has thrown down the gauntlet with plans to launch on Nov. 1 at a price point of $5 per month — or free for a year for subscribers who buy an Apple device.
Georgia Tech doesn’t rely on four meager cameras anymore to capture sports action around campus. Now the school has 23, and they’re all operated out of a new state-of-the-art broadcast production facility. ACC Network launched its 24/7 linear channel on Aug. 22 and delivered its first football broadcast in Clemson a week later.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.