|Day's Range||7.80 - 7.85|
(Bloomberg) -- Climate Week is underway. That means some the globe’s most powerful corporate leaders are making pledges to be greener as heads of state gather in New York to discuss ways to stop the planet from warming.The main event is at United Nations headquarters in Manhattan, where German Chancellor Angela Merkel, Indian Prime Minister Narendra Modi and dozens of others are taking to the dais. U.S. President Donald Trump made a brief, unexpected visit but didn’t address the gathering. On the other side of town, Climate Week’s opening ceremony features California Governor Gavin Newsom, Danish Prime Minister Mette Frederiksen and others. More than 150 other events will follow over the next five days.Read More: World Leaders Gather in New York as Global Climate Protests GrowProtests Snarl Streets in Washington D.C. (1:56 p.m.) Protesters shut down major streets in the nation’s capital, including blocks from the White House. It forced officials to reroute buses. Commuters, accustomed to demonstrations in the nation’s capital, largely shrugged off the demonstrations and walked their final blocks to work.A handful of protesters shackled themselves to a pink-and-yellow sailboat with the phrases “Tell the Truth” and “Rebel for Life" painted on the side. The small craft, atop a trailer, blocked the intersection of 16th and K streets. Nearby demonstrators chanted, “If we want to stay around, keep the carbon in the ground.” Police eventually used power tools to unshackle the protesters from the boat.China’s Envoy Takes Swipe at Trump But Not By Name (1:31 p.m.)China’s Foreign Minister Wang Yi took a swipe at U.S. President Donald Trump during a United Nations summit on Monday, saying the world will continue to fight global warming without him.While Wang didn’t call out Trump or the U.S. directly, he said the “withdrawal of certain parties” from the global Paris climate agreement “will not shake the collective will of the international community, nor will it reverse the historical trend of international cooperation.” Trump has vowed to pull the U.S. out of the Paris accord and dismantle Obama-era rules to slash greenhouse-gas emissions from power plants.Germany Vows to Double Global Climate Spending (12:50 p.m.)Germany will double its commitment to climate protection worldwide to 4 billion euros ($4.4 billion) compared with 2014 levels, Merkel said at the UN.“This is a global challenge that can only be tackled together,” she said. Germany will contribute 1.5 billion euros to the Green Climate Fund to help developing nations cope with effects of climate changeTrump Unexpectedly Shows Up at UN (12:10 p.m.)President Donald Trump made a surprise appearance at a climate-change summit at the United Nations General Assembly on Monday. He didn’t address the assembly and left after a few minutes.Trump faced criticism from Democrats and climate activists for scheduling an appearance at a religious freedom event scheduled for the same time as the climate summit. The president in the past has questioned man-made climate change, at one point calling it a Chinese hoax.Children File Complaint Vs. Five Nations at UN (11:30 a.m.)Swedish activist Greta Thunberg and 15 other children and teenagers filed a legal complaint with the United Nations, accusing France, Germany, Brazil, Argentina and Turkey of not doing enough to combat climate change.The complaint will go to the UN Committee on the Rights of the Child, which does not have power to make legally binding decisions. The children, who range from 8 to 17, say the five nations have known about the risks of climate change for decades but aren’t curbing emissions and continue to promote fossil fuels.Even Oil Majors Are Making Climate-Week Pledges (10:30 a.m.)The pledges from companies to cut carbon continue to roll in. Amazon.com Inc. announced it will order 100,000 electric delivery vehicles as part of a plan to go carbon-neutral by 2040. AT&T Inc. announced deals with Invenergy LLC and Duke Energy Corp. to buy more wind and solar energy. And Schneider Electric SE, the global supplier of electrical equipment, is moving up its goal to become carbon neutral by 2025, five years ahead of schedule.Even fossil fuel companies are getting in on the act. A coalition of 13 oil and gas companies including BP Plc, Chevron Corp. and Exxon Mobil Corp. announced an initiative to“unlock large-scale investment” in technology that would capture and trap global-warming causing gases in support of the Paris Agreement.Heads of State Call for Action, Newsom Blasts Trump (9:30 a.m.)At the opening ceremony of Climate Week in New York, heads of state and local government leaders are calling for immediate action. The loudest applause so far went to California Governor Gavin Newsom, who lashed out at U.S. President Donald Trump for rolling back environmental regulations and promoting use of fossil fuels that cause climate change.“I don’t know what the hell happened to our country that we have the president that we have in this issue,” Newsom said. “I’m absolutely humiliated.”Pension Fund Pledge to Make Portfolios Carbon-Free (9:00 a.m.)A coalition of pension funds including Allianz SE and Swiss RE AG have pledged to make their investment portfolios climate neutral by 2050. Combined, the companies have more than $2.4 trillion in investments, the group said in a statement.“Mitigating climate change is the challenge of our lifetime,” Oliver Bate, Allianz’s chief executive officer, said in a statement. “Politics, business and societies across the globe need to act as one to rapidly reduce climate emissions.”\--With assistance from David R. Baker, Susan Decker, David Wainer, Patrick Donahue, Jordan Fabian and Josh Wingrove.To contact the reporters on this story: Nic Querolo in New York at email@example.com;Christopher Martin in New York at firstname.lastname@example.org;Will Wade in New York at email@example.comTo contact the editors responsible for this story: Lynn Doan at firstname.lastname@example.org, Joe Ryan, Simon CaseyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Look for T-Mobile US to report a strong September quarter while subscriber losses accelerate at would be merger partner Sprint, says a UBS analyst.
So far, September has been a good month for AT&T; (T) stock. The stock rose about 2.05% on September 20 and closed the trading day at $37.91.
Just when I started to believe that I was missing out on the greatness of Roku (NASDAQ:ROKU), investors bailed on it in a big way. Friday was a devastating day for those long ROKU stock, as it fell 20% in one day. But what makes this more impressive is that it came on the heels of a 27% correction from the highs. Clearly, the risk appetite for the stock has waned dramatically.Source: JHVEPhoto / Shutterstock.com So is it time to sell ROKU? The answer varies depending on the trader's time frame and thesis. But one thing is clear, this is not a stock for the faint of heart. I personally have been a long-time critic of ROKU because it has been in business for 16 years, yet it still can't turn a profit. I recently was reconsidering, so I was willing to entertain the hype. Now, the stock is a bloodbath.Last week the old-school media dialed up the competition rhetoric from Viacom (NASDAQ:VIAB) and AT&T (NYSE:T) so stocks like ROKU, Disney (NYSE:DIS) and Netflix (NASDAQ:NFLX) suffered the consequences. Investors sold them in droves. This was inevitable but as usual, Wall Street binges on stocks until it throws them back up in disgust -- and without warning.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe traditional fundamentals on ROKU are great -- it's growing user statistics fast. So as long as it can keep doing that, ROKU stock can still sustain its overvaluation. But last week was a reminder that momentum stocks like Roku, NFLX and Amazon (NASDAQ:AMZN) run fast but in both directions, so traders who invest in them should know what they are getting into. * 7 Worst Stocks in the S&P 500 in 2019 Case in point: Even after the recent carnage, Roku stock is astonishingly still up 265% year-to-date. Clearly there is more froth to shed should investors continue hating on it. This would be especially true if the equity markets in general also correct this coming week. ROKU Stock Is Down, But Not OutIn early August, even though it seemed unfathomable that it could rally any higher, I wrote about ROKU stock. I shared the possibility of more upside thanks to the $90 support zone. Indeed, the stock rallied 50% from there. It is back again, falling into the clutches of the century mark, so the opportunity presents once more for a similar setup.This time it's a little different though. The sellers are now in control so the onus is on the bulls to change that. Until that happens, I don't chase upside potential, but I can still profit from the ROKU stock price. The 12-month point of control is below $70 per share. This is where the buyers and sellers have battled it out the most. There are also also two consolidation zones at $96 and $85 per share. Both are rubber bands, so definitely not hard lines, especially given the speed of descent.So this falling knife is scary as it could turn out to be a machete that is missing its handle. Meaning, it could cost those who try to catch it digits. It is best to let Roku stock hit the ground before reaching for it. But just like before, instead of chasing frothy stocks, especially when they are still in my probationary bullish basket, I prefer selling downside risk to generate profits while leaving room for error.A month ago, the trade was to sell ROKU Nov $75 put and it delivered an easy win. I can rewrite the same trade and this time collect $2.60 per contract to open. Or I can sell the Jan $65 put which gives me even more cushion and some extra time.In either case, I would be catching the ROKU falling knife but leaving plenty of room for error. The stock can fall another 35% and I can still retain my maximum gains. Otherwise, I own ROKU shares and I accrue losses below those levels.It is very important to note that I never sell naked puts unless I want to own ROKU stock. Otherwise I'd sell put spreads to limit the risk.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Worst Stocks in the S&P 500 in 2019 * 7 Reasons to Own Intuit Stock -- The Unsung Hero of Fintech * Apple and 4 Other Tech Stocks on the Move The post It Is Not 'Game Over' for Roku Stock appeared first on InvestorPlace.
on Friday to call for action on climate change. UN secretary-general António Guterres, who has made the climate summit his signature event, has told world leaders to leave their platitudes on climate change at the door and commit to real change.
HBO dominated Sunday night’s Emmy awards, scoring the most wins of any network or platform thanks to hits such as Game of Thrones and Chernobyl. Elliott argues that AT&T is bloated after making too many pricey acquisitions in the past decade.
In the short-term, the 5G tech revolution will be underwhelming. But in the long-term, it has the potential to radically change networks and transform economies for the better— and, if we’re not careful, the worse.
Investing.com - U.S. futures were flat on Monday, after Chinese officials cut their U.S. trip short and speculation remained on whether or not the two largest economies in the world will reach a trade deal in the coming months.
The online streaming and production company loses its place as overall winner in this year's Emmy Awards as larger media and tech companies continue to challenge its market dominance.
(Bloomberg) -- Amazon.com Inc.’s “Fleabag” and “The Marvelous Mrs. Maisel” pulled off a near-sweep of the comedy Emmys awarded on Sunday night, cementing the company’s status as an outlet for high-brow humor.“Maisel,” a show about a New York housewife turned standup comic, picked up statuettes for best supporting actor and actress. “Fleabag,” a dark comedy about a young British woman struggling to get her life together, won for writing, directing, best actress and best comedy.Bill Hader, the star of HBO’s “Barry,” also snagged a comedy Emmy for acting at the awards, which Fox broadcast live from Los Angeles. The TV academy aped the film academy in staging an awards show without a formal host, though it did have an announcer providing sports-style running commentary.With media giants rushing to introduce new streaming platforms, Amazon has sought to build a reputation for high-quality original shows. It’s going to get harder to stand out. Walt Disney Co., Apple Inc., AT&T Inc.’s WarnerMedia and Comcast Corp.’s NBCUniversal will all roll out their services in coming months, setting up a historic fight for viewers’ eyeballs and wallets.Disney planted a flag early in the show with a commercial for its Disney+ streaming service, calling out its ownership of hit machines like Star Wars, Marvel and Pixar.Phoebe Waller-Bridge, the “Fleabag” creator, was nominated for best comedy and as well as best drama, for “Killing Eve.” That gave her a chance to match an accomplishment attained by prolific producer David E. Kelley in 1999, but the drama award went to “Game of Thrones.”“Maisel” also won five Emmys last year. “Saturday Night Live,” meanwhile, took this year’s Emmys for a variety sketch series.(Updates with best comedy Emmy in second paragraph)To contact the reporter on this story: Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
LOS ANGELES, Sept 22 (Reuters) - "Pose" star Billy Porter, sporting a crystal-studded black suit and an enormous hat, along with "Games of Thrones" stars Peter Dinklage, Maisie Williams and Gwendoline Christie were among early arrivals for television's Emmy awards on Sunday, where HBO's medieval fantasy series aims to crown its final season with a fourth best drama series statuette. Director Ava DuVernay and the five men known as the Central Park Five, whose wrongful arrests in New York three decades ago are dramatized in the Emmy-nominated "When They See Us," also walked the purple carpet in Los Angeles, along with "The Marvelous Mrs Maisel" lead actress Rachel Brosnahan.
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) -- AT&T Inc. and activist investor Elliott Management Corp. seem to agree on one thing: DirecTV, the phone giant’s shrinking satellite service, is a drag on the company. But solving the problem won’t be easy.AT&T acknowledges the faster-than-predicted decline at DirecTV. But Randall Stephenson, chief executive officer and architect of the company’s $48.5 billion purchase, sees the service as one of two key businesses -- the other being mobile phones -- that will allow the company to pipe entertainment and advertising to millions of customers.The problem is that AT&T lost 2.3 million TV customers in the past year, and expects to lose up to 350,000 more this quarter, Chief Financial Officer John Stephens said at a Sept. 11 investor conference. The division, including the online streaming service DirecTV Now, is being sued for allegedly misleading investors about its subscriber numbers, and its value today is below what AT&T paid for the business four years ago.Stephenson met with officials of Elliott Management on Tuesday, according to a person familiar with the matter. In a letter to AT&T last week, Elliott said it had acquired a $3.2 billion take in the phone company, highlighted areas for improvement and raised the possibility of divesting DirecTV.Here are some of the options that AT&T has for DirecTV, along with the pros and cons.Dish DealAT&T and Dish Network Corp. -- the other major satellite TV provider -- are suffering the steepest subscriber losses in the pay-TV industry. And in June they said they are open to a combination.But the creation of pay-TV colossus with almost 30 million subscribers would almost certainly face regulatory opposition, even today when viewers have so many new options available, like Netflix and new streaming services from media giants including Walt Disney Co. and Comcast Corp.“That’s been tried from a regulatory perspective,” Stephens said on Sept. 11. “It hasn’t been successful, and I don’t know that there is any change in that regulatory perspective.”Still, the rationale of pairing two declining businesses has its fans.“It’s complicated but not impossible,” said Jonathan Chaplin, an analyst with New Street Research. “On the right terms, it could get financing.”There would be benefits to combining the businesses: With scale comes negotiating leverage, lower content costs and potentially lower overhead. The cash generation is attractive. And add a dynamic management team, and it could be run successfully, Chaplin said.But there are also concerns: Depending on how a deal is structured, AT&T could lose a key distribution arm for its emerging media strategy and suffer a crippling loss of cash flow. DirecTV has $25.5 billion in annual revenue and generates about $4.5 billion in free cash flow, according to estimates by Walt Piecyk, an analyst at LightShed Partners LLC.“Markets always believed they bought this declining asset with steady cash flows as a stop-gap measure to strengthen their balance sheet and credit metrics,” said Todd Lowenstein, managing director of Highmark Capital Management Inc.Spinoff or SaleAT&T could separate its TV business in a variety of other ways, including a sale to private equity investors or a spinoff to shareholders.The proceeds of a sale could help AT&T reduce some of its $194.5 billion in total debt. That would provide the biggest boost to its credit rating, according to a report Friday from Neil Begley, a Moody’s Corp. analyst.Similarly, AT&T could distribute stock in DirecTV to its current shareholders via an an exchange offer. That would reduce AT&T’s stock outstanding and trim its dividend burden, Begley wrote.As part of such a transaction, DirecTV could also take on debt and pay AT&T a dividend to reduce its own borrowing and compensate for the loss of cash flow. Such an arrangement is “probably one of the more credit favorable ones after an outright sale,” Begley said.Again, with a deal AT&T would potentially lose a customer base for its advertising and media products. And even freed of DirecTV, the company will still have a lot on its plate. AT&T faces a heavy spending burden for 5G network expansion, its dividend and further debt reduction. The company’s newly acquired WarnerMedia division is ramping up the production of movies and TV shows to support its new streaming efforts.“A sale or spin could make some strategic and financial sense given the shifting competitive landscape, but they still need to be laser focused on execution to succeed,” Lowenstein said.Hang OnDallas-based AT&T knew it was buying a mature satellite TV business with a limited shelf life when it acquired DirecTV. Stephenson’s plan, given enough time, was to gradually serve customers through broadband connections, as it’s trying to do now with the new AT&T TV offer, a lower-cost cable-like service.Those customers, along with the 77 million regular monthly wireless subscribers, would provide a big base to sell advertising and additional services, like the upcoming video streaming service HBO Max.Making progress on those fronts is crucial. Left as is, AT&T’s TV business could see steeper declines in pay-TV subscribers. Faster revenue losses will make it tougher to meet those other cash needs.“If AT&T can’t find an attractive exit from DirecTV, then they will continue to squeeze as much free cash flow as they can from the TV business,” Piecyk said. “If they can leverage network improvements, push back on content pricing and slow subscriber losses, it would certainly advance their strategy.”To contact the reporter on this story: Scott Moritz in New York at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob Golum, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The online streaming landscape was once owned by a few companies, largely Netflix and Hulu, but each of which offered a different type of content.
Netflix (NFLX) used to dominate the SVOD streaming services market. It was a leader with few competitors and a subscriber base of over 150 million.
According to Reuters, Netflix CEO Reed Hastings (NFLX) said companies like Disney (DIS) and Apple (AAPL) will boost already rising production costs.
There is only one way to respond to a PowerPoint firing, Netflix's first CEO says: "There is no way I’m sitting here while you pitch me on why I suck."