|Bid||0.00 x 1000|
|Ask||0.00 x 1400|
|Day's Range||294.20 - 299.39|
|52 Week Range||231.23 - 385.99|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||95.78|
|Earnings Date||Jan 15, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||361.18|
Headlines moving the stock market in real time.
Yahoo Finance’s Dan Roberts, Heidi Chung, and Kristin Myers break down Deloitte’s 2020 media outlook report with Deloitte's Kevin Westcott.
Disney+ downloads passed 22 million on mobile devices, the independently owned app-tracking company Apptopia announced Tuesday.
"The Irishman," the new crime epic from Martin Scorsese, was streamed on more than 26 million accounts around the world in the film’s first week on the Netflix Inc. (NASDAQ: NFLX) streaming platform, the company said. Netflix estimates the film will be streamed by more than 40 million account holders in its first 28 days. It’s tough to say exactly how many actual viewers that is, but it’s safe to say the viewership number is larger, because more than one person is often likely watching the movie together, Netflix says.
Disney+ streaming service has hit 22 million downloads a month after launch, generating $20 million, new research shows.
Sometimes though, like in this market, where the animal spirits - bullish animal spirits - can bowl you over, sometimes you have to take a stand, and that's exactly what I've been doing with Tesla and what I've gone back and forth on with Netflix , the two biggest hornets' nests of our generation. You can't put a price to earnings ratio on cool, on but you might buy cool and therefore want to buy the stock. For example: if you like it you might want to buy the stock but be careful of the balance sheet.
Netflix Inc. shares were on the rebound Wednesday morning despite a blow delivered by a court after trading hours the day before. Los Angeles County Superior Court Judge Marc Gross issued an injunction on Tuesday barring the streaming giant from poaching employees under contract at Fox. The case started in 2016, when Fox sued Netflix (NASDAQ: NFLX) for hiring away two of its executives at double their salaries: Tara Flynn, who worked at Fox 21 as vice president of creative affairs, and Marcos Waltenberg, who worked at Twentieth Century Fox Film as vice president of marketing partnerships and promotions.
Disney had earlier said its new service had witnessed "extraordinary consumer demand" on the day of the launch, reaching 10 million sign-ups. The company now serves about 41.5 million viewers in the United States, including subscribers for its other streaming businesses, Hulu and ESPN+, compared with about 61 million for industry leader Netflix Inc. Apptopia said Disney+ competitors, including Netflix and Amazon.com Inc's Prime Video, remain largely unaffected in terms of their performance during the same period.
The streaming giant is both pricing its services aggressively in India and spending heavily on local content. But there's a method to its madness.
Disney+ outpaced other streaming video apps in initial engagement, according to Apptopia, but dropped off after the first few days, according to new research.
Amazon (AMZN) strengthens competitive position in the video streaming market with broadcasting rights of European soccer Champions League matches in Germany.
Benzinga Pro's Stocks To Watch For Wednesday Netflix (NFLX) - Shares were up nearly 1% to over the $295 level in pre-market action. Chief Content Officer Ted Sarandos, speaking at a conference on Tuesday, ...
DEEP DIVE As we approach the end of 2019, it’s time not only for year-end lists, but end-of-decade lists. U.S. stocks have had what can only be called an excellent decade. MarketWatch will feature a number of forward-looking articles building on the past decade’s action.
On the tech side there is Meg Whitman, former head of Hewlett-Packard and eBay. The question is whether a pair of boomers — even hyper successful ones — can create a video platform that Gen Z wants to watch. Hollywood likes the idea.
Netflix Inc. historically has been averse to advertisements, but the changing competitive landscape in streaming likely warrants a change in strategy, according to an analyst.
Netflix Inc is testing longer subscription plans in India as it looks to attract more users in a highly competitive market where smartphone and internet usage is soaring. New users of Netflix in India may have the option to choose from three-, six- and 12-month plans at discounts of up to 50%, a person familiar with the matter told Reuters. The Los Gatos, California-based company has previously used India as a testing ground for new features, launching a mobile-only monthly plan starting at 199 rupees ($2.79) this year.
Netflix has been stuck in the doldrums this year, and 2020 will bring a host of fresh challenges for the streaming giant. Shares of Netflix are up just 9% this year, compared to about 25% for the broader S&P 500, and scrutiny on its subscriber growth, content slate and balance sheet aren't going to let up heading into 2020. Netflix was a pioneer in streaming, having been the first to popularize the SVOD (subscription video on demand) model that packages original content with syndicated shows for a monthly price.
What are the biggest gainers during the 2008 market crash? Investors believe that they should allocate a bigger percentage of their portfolios into recession resistant stocks. Contrary to investor expectations, several growth stocks including Apple Inc. (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), and Netflix Inc. (NASDAQ:NFLX) grew during the 2008 recession, so investors don't have to ignore growth stocks to be conservative. Actually only one of these three stocks (Apple Inc., Amazon.com and Netflix) delivered positive returns during the 2008 crash and found a place in our list.
(Bloomberg) -- Erwin Singh Braich, the mysterious tycoon behind a $1.2 billion bid to rescue a beleaguered Indian bank, says he is Canada’s richest man with a story so fabulous that Netflix Inc. wants to tell it.There’s a less glittering account pieced together from interviews and court records: The son of a lumber baron has a history including bankruptcy, lawsuits and soured business deals. He has no headquarters, no banker to manage his money, and is currently living in a three-star motel in the Canadian prairies.The board of Yes Bank Ltd. deferred a decision Tuesday on which version of Braich it supports, saying his backing of a preferential share sale was “under discussion.” Braich and his partner, Hong Kong-based SPGP Holdings, have offered to buy 60% of the $2 billion sale.“They must have thought that there is something in the deal,” that the Reserve Bank of India may not approve, said Gaurang Shah, vice president at Geojit Financial Services Ltd. “That could be the reason the board did not approve any investor.”At stake is the future of the Mumbai-based bank that’s staggering under the weight of its bad loans, including to some of the non-bank lenders caught up in India’s shadow banking crisis. Yes Bank desperately needs the cash injection to replenish its core equity capital, which is barely above the regulatory minimum of 8%. The stock has plunged 72% this year, including a 10% plunge Tuesday, reducing its market value to 129 billion rupees ($1.8 billion).“I’ve been under the radar,” Braich, 63, said in a phone interview last week. “We have a lot of different holdings and assets that people don’t know about.”He’s provided documentation to Yes Bank’s Chief Executive Officer Ravneet Gill on his ability to pay and the funds will be in escrow by the time Yes Bank shareholders meet this month to approve the capital raising, he says. Yes Bank didn’t respond to an email seeking comment about Braich and his bid.“I don’t think Mr. Gill is a stupid man,” Braich said, adding “a lot of skepticism will be erased” surrounding his bid.Yet there are plenty of signs from Braich’s past that some skepticism may be warranted. For two decades, he has been mired in dozens of lawsuits with family members, creditors and business associates, according to Canadian and U.S. court records.In one case, he pitched two investors on a plan to buy scrap metal from the Democratic Republic of Congo, telling them he had a multimillion dollar commodity trading business, according to a 2008 lawsuit filed in New York.Congo DealThe investors, Roger and Punit Menda, sued him and four others for defrauding them of $340,000, saying Braich lied about the metal contracts and “did not possess the personal wealth he claimed to and was, in fact, without any personal assets,” according to the filing. Braich failed to respond to the complaint or appear in court, according to a default judgment ordering the money be repaid with interest.Braich called the lawsuit “so stupid and frivolous we didn’t even bother to defend it.” He said he didn’t pay the judgment but might offer to pay the Mendas back because he feels badly they missed out on an opportunity.Robin Phinney, former president of Canadian potash developer Karnalyte Resources Inc., says he met Braich several times in 2015 when Braich said he was ready to fund a roughly C$2 billion ($1.5 billion) mining facility.Braich jumped the gun with a news release that said his group was set to take control of Karnalyte and would make an “immediate equity injection” of nearly C$200 million. The company responded by saying the proposal wasn’t binding and hadn’t been accepted by the board.The deal never happened, and Phinney said Karnalyte was unable to ascertain if Braich had the funding he claimed. “Everything looks wonderful until you have to show up with the check,” he said. “I still don’t know if he had any money or not.”Skeptical AnalystsBraich says he had a binding bid with Karnalyte but “they screwed me” and allowed another investor from Gujarat, India to push him out.He also says he cut a deal to buy Palais Royale, a luxury condo tower in Mumbai that remains unfinished. He says he’s ready to offer a deal to A-listers like Tom Hanks and Oprah Winfrey when he takes possession. “I’ll get them the penthouse very cheaply to add stature along with some cricketer or Bollywood star.”“This statement is surprising and is obviously factually incorrect,” Indiabulls Housing Finance Ltd., the lender which auctioned off the property earlier this year, said in a response to questions. Neither Indiabulls nor the new owner have had any dealings with Braich, it said.The lender’s shares dropped 18% in the week after the names of the potential new investors were announced on Nov. 29, including Braich, SPGP and Citax Holdings. (Braich says he has no affiliation with Citax.)“We have serious reservations regarding the quality of board of directors who are willing to consider these kinds of investors to be large shareholders,” Suresh Ganapathy, an analyst at Macquarie Capital Securities (India) Pvt., wrote in a note.Braich grew up in Mission, British Columbia, 70 kilometers (44 miles) southeast of Vancouver, the eldest of six children in a Sikh family originally from Punjab in northern India. His father Herman was a pillar of the local Indo-Canadian community who’d left India at the age of 14 -- taking little but the name of his tiny village, Braich -- and built a fortune in British Columbia’s forestry industry. The patriarch died in 1976.Father’s Trustee“The reason I’ve had so much litigation was because I was a trustee for my father’s estate,” said Braich. Those headaches include a 1999 involuntary bankruptcy he said was orchestrated by opponents, including his brother. Bobby Braich, reached by phone, said he’s been estranged from his brother for 20 years and declined to comment further.The bankruptcy remains undischarged with more than C$13 million in total liabilities, according to Canadian bankruptcy records. Braich was arrested and prosecuted after refusing to provide records of his assets or appear in court, the Public Prosecution Service of Canada said in an email.Braich said he always had assets and has repaid his debts with interest. He holds all his wealth in his children’s five trusts, which he controls as sole trustee, to keep them out of the reach of disgruntled family members and unscrupulous lawsuits, he added.He hasn’t owned a home since the 1990s, choosing to live and work out of hotel rooms around the world from Ritz-Carltons to Kempinskis to Travelodges, he said.Right now, it’s the three-star Sandman Hotel in Grande Prairie, Alberta, which Braich said he chose for its in-house Denny’s restaurant. He’s been undergoing dental work ahead of what he says are upcoming TV appearances with Stephen Colbert and Oprah Winfrey.TV Series“A bunch of the major networks want to have me go on a talk show tour,” Braich said by phone, a day after a three-hour, 25-minute stint in the dentist’s chair. “I’m going to get my teeth done so they’re like Chiclets.”Then there’s Netflix and Amazon.com Inc., which want to do a four-season series on him and his father, according to Braich. The Oprah Winfrey Network said none of its producers are familiar with his name. CBS Entertainment said it doesn’t comment on Colbert’s bookings. Netflix and Amazon didn’t respond to requests for comment.Braich’s athletic past also doesn’t stand up to scrutiny. He says he would have attended the final tryouts for the Canadian Olympic basketball team in 1976 if his father hadn’t died the day before.His former basketball coach Jon-Lee Kootnekoff says Braich wouldn’t have made the varsity basketball team at Simon Fraser University in Vancouver, let alone the national squad.“He was struggling to be somebody,” says Kootnekoff. “It’s a story of a young man whose ego was shouting and his higher self was whispering, but he wasn’t listening to his whisper.”Due DiligenceTo support the Yes Bank bid, Braich’s trusts and SPGP have various assets including Black Pearl Investments, a jointly owned Hong Kong company capitalized with about $200 million, he said. The partnership with SPGP is developing everything from retirement villages in the Philippines and Thailand to nitrogen-preserved tea in Sri Lanka through SPGP’s sister company Silverdale Services Ltd., he said.As of May, Silverdale Services’s total equity capital was HK$100,000 ($12,800), according to records from Hong Kong’s companies registry. A Hong Kong-registered company named Black Pearl Investments had HK$1 in paid-up capital the last time it filed an annual return in November 2017.SPGP’s CEO Somitra Agrawal, contacted via LinkedIn, referred questions on his firm’s investment plans to Braich.Braich said his rationale for investing in Yes Bank was simple:“I loved the logo and I had my people do the due diligence very deeply,” he said. “If it was called ‘No Bank,’ I wouldn’t have been interested.”(Updates with Palais Royale condo comments in 17th paragraph)\--With assistance from Pradipta Mukherjee, James Thornhill and Lucas Shaw.To contact the reporters on this story: Natalie Obiko Pearson in Vancouver at email@example.com;Suvashree Ghosh in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Candice Zachariahs at email@example.com, Marcus Wright, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.