|Day's Range||21.05 - 21.05|
The start of the traditional fall TV season in late September has been teeming with ads for new streaming services from Apple Inc. and Walt Disney Co., both of which debut later this year. It all makes for must-see streaming-TV as Netflix kicks off the earnings season among the principal combatants this week.
(Bloomberg) -- If activist shareholder Elliott Management Corp. has its way, more than 30,000 AT&T Inc. workers could lose their jobs or face reductions in wages, according to a new estimate from the Communications Workers of America union.Most of the impact on workers would come from divestitures of DirecTV and AT&T’s landline business and closures of the company’s retail locations, if the company follows Elliott’s suggestions, said the CWA, which represents more than 100,000 AT&T employees.In September, billionaire Paul Singer’s New York hedge fund disclosed a new $3.2 billion position in AT&T, along with a plan to boost the telecom and media giant’s share price by more than 50% through asset sales and cost cutting. The fund hasn’t specifically called for job cuts. AT&T has said it has no plans to dispose of DirecTV, but Elliott could potentially engage in a proxy battle to push its agenda through.“If Elliott doesn’t get their way, they are going to do a proxy fight on the board, and then any or all of these things could happen,” said Christopher Shelton, president of the CWA. “We can’t leave that to chance, because that’s 30,000 jobs.”Elliott and AT&T didn’t immediately respond to requests for comment.Among the potential cuts the CWA sees:DirecTV employs about 10,000 workers represented by the CWA and the International Brotherhood of Electrical Workers whose jobs could be at risk if AT&T decides to divest the business, said Nell Geiser, assistant director of research at the CWA. Some of these jobs are at call centers, while others include technicians who do home installations and tech support.The landline business is supported by about 11,000 people whose jobs may be at risk and who work in rural areas in 26 states, the CWA estimated.Were AT&T to match Verizon Communications Inc. in the number of branded stores operated by third-party dealers, rather than by the company, it would close 970 corporate locations, the CWA said. It might close some additional corporate outlets due to geographic redundancy. In total, these moves would eliminate more than 8,500 retail sales workers, according to the CWA.If AT&T sells its operations in Puerto Rico and the Virgin Islands to Liberty Latin America Ltd. as planned, that could affect about 900 union jobs, the CWA said.The estimates don’t include workers who aren’t yet part of a union, “such as the tens of thousands at WarnerMedia,” the CWA said.These estimates should be taken with a grain of salt. In September, AT&T said DirecTV isn’t for sale, for example. Earlier this month, presidential candidate Elizabeth Warren called on AT&T to reject Elliott’s proposal as it would result in loss of jobs.To contact the reporter on this story: Olga Kharif in Portland at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- The stakes are often high when Netflix Inc. reports results: Stock swings of 10% or more aren’t uncommon. But with the shares down more than a fifth since the streaming giant disappointed investors in July, the risk of another plunge may be lower this time around.When Netflix posts results after markets close Wednesday, analysts expect an increase of about 800,000 U.S. subscribers for the third quarter and about 6 million internationally. Whether or not the company hits those targets may depend on how much Netflix’s new programming resonated with viewers.The timing of Netflix’s latest shows probably helped subscriber growth, said Third Bridge’s Scott Kessler, who cited the new season of “Stranger Things” as a potential driver. Netflix also may have gotten a boost from a competitor’s show, HBO’s “Game of Thrones,” ending its run.Gerber Kawasaki Inc., a Netflix investor, also expects “a pop from the people moving from HBO and resubscribing,” thanks to “Stranger Things.”Still, Gerber investment adviser Nick Licouris said the firm has been reducing its position because of looming competition from Apple Inc., Walt Disney Co., AT&T Inc. and Comcast Corp. The Santa Monica, California-based wealth manager holds more than 12,000 shares valued at almost $3.7 million, according to a June regulatory filing.Given that Netflix has been growing so much faster internationally, analysts will be eyeing the company’s progress -- and spending -- in key foreign markets.“We’re looking to see if there’s any meaningful traction with some of the lower-priced, mobile-only plans -- with India primarily,” Andy Hargreaves, a KeyBanc Capital analyst, said in an interview.Netflix itself predicted in July it would add a total of 7 million subscribers in the third quarter -- 800,000 in the U.S. and 6.2 million elsewhere.Read more: Netflix Investors Are Bracing for Another Disappointing QuarterMany investors may still be smarting from the company’s last quarterly report. Three months ago, Netflix posted disappointing second-quarter subscriber growth -- and a rare drop in the U.S. The shares slumped 10%.“It would be hard for it to be worse” this time, Hargreaves said, though investor concerns will persist as new streaming services increase the risk of higher subscriber churn or marketing costs, according to a note.Rosenblatt Securities predicts the company’s fourth-quarter subscriber guidance will miss Wall Street’s consensus, according to a note from analyst Bernie McTernan. He expects the forecast to “be treated with greater than normal skepticism” given that Netflix is reporting weeks before the launch of competing offerings, such as Disney+.“Netflix has never faced this level of competition from a new entrant,” he wrote.Gerber’s Licouris sees room for both Netflix and Disney, but warns that “at some point, it becomes extremely saturated.”On Tuesday, for example, the largest U.S. theater chain, AMC Entertainment Holdings Inc., announced a new service that would give U.S. subscribers online access to nearly 2,000 movies for rent or purchase.See also: Netflix Earnings-Linked Options Lean Bullish in Run-Up to ReportWhat Bloomberg Intelligence Says:Netflix will not only have to exceed its guidance for 7 million subscriber additions but also deliver a healthy 4Q forecast to allay concerns that have dogged the company.-- Geetha Ranganathan, senior media analyst-- Click here for the researchTo contact the reporter on this story: Kamaron Leach in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Nick TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Google stock advanced on Tuesday amid the unveiling of the Pixel 4 smartphone, which takes on the new Apple iPhone 11 and Samsung devices. Meanwhile, Apple stock slipped on the news.
Add yet another name to the list of potential rivals for AT&T’s Inc.’s planned streaming service by HBO. AMC Theatres (NYSE:AMC), the popular chain for folks watching movies the traditional way, is launching a service for the casual confines of home, according to a statement on Tuesday. While some providers may emphasize their own content, AMC has agreements with every major Hollywood studio, providing options for both new releases and popular cataloged movies.
Breaking down some of Tuesday's major Q3 earnings results from giants such as JPMorgan Chase and UnitedHealth. A look at what to expect from Netflix's third quarter financials Wednesday. And why Lululemon is a Zacks Rank 1 (Strong Buy) stock...
This week's roundup features four solicitations for contracts and three contracts that were awarded by the Army worth up to $5.1 million.
Competition has become the four-syllable word that investors and analysts seem to be focusing on, as streaming content giant Netflix Inc (NASDAQ: NFLX) prepares to report earnings Wednesday, Oct. 16 after the close. NFLX shares have lost some 27% since reaching a 12-month peak in May as rivals have entered—or merely threatened to enter—the online streaming world that the Los Gatos, California-based media services provider has long dominated. Is recent movement in share prices—up 13% from the September 24 low—an indication of newfound investor love or an aberration amid sleepy market action?
Verizon stock usually is a dividend play, as are the shares of its rival AT&T.; But Verizon 5G lies ahead. Here's what various analyses say about Verizon as 5G wireless comes into play.
Ericsson's (ERIC) third-quarter results are supported by commercial 5G contract wins in 19 customer networks across 15 countries, spanning four continents.
Shares of AT&T (T) have surged 31% in 2019 to easily top its industry's 8% average climb and the S&P 500's 17% jump. So will AT&T stock continue to climb after it reports its Q3 2019 earnings results?
On October 10, Senator Elizabeth Warren urged AT&T; (T) to reject activist investor Elliott Management’s plan to restructure its business.
"Joker" is laughing all the way to the bank, adding an estimated $55 million in domestic ticket sales in its second weekend of release. "Joker" now has made $193 million domestically and $351 million internationally for a global total of $544 million for parent company AT&T Inc. (NYSE: T). Back to the top 10, several new wide releases challenged "Joker" but fell short of toppling it.
What are the poorest cities in America in 2019? The United States is popular for its opulence and the unimaginable success of its people. Around seven out of the ten richest people in the world are American. These people live in metropolitan areas with the best performing economies in the world. Nonetheless, this is not the […]
Netflix Inc (NASDAQ: NFLX) is scheduled to report its third-quarter results Wednesday, after the market close. Analysts, on average, expect the company to report revenues of $5.25 billion, up 31.30% year-over-year. Over the past four quarters, Netflix has managed to beat earnings per expectations by an average of 24.08%.
The company’s earnings release, Investor Briefing and related materials will be available at AT&T Investor Relations. A live webcast of the call will also be available at AT&T Investor Relations, and the webcast replay will be available shortly after the call concludes. AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology.
Shares of Netflix (NFLX) have fallen over 20% in the past three months. Let's dive into everything we know about Netflix heading into its Q3 earnings release to see what to expect from NFLX stock...
Wall Street is breathing easier today. But given that it is October and the art of deal-making is far from certain these days, investors can tread more confidently if they choose income-generating, blue-chip stocks that are well-positioned for winning the trade war. Let me explain.The Dow Jones Industrial Average is nearly through the first half of October -- a month notorious for spooking investors -- and so far a market correction still hasn't happened. That's not to say the period hasn't been without incident or that a correction won't make an appearance this year. The fact is elevated volatility, back-and-forth political intrigue and mixed economic data offering jeers and cheers have been a staple on Wall Street this month. Nevertheless, a pullback which saw blue-chip stocks lose as much as 4.25% in early October has been completely retraced as of Friday's intraday trade.So, where exactly does that leave investors, other than a flat October, which may feel like a victory?InvestorPlace - Stock Market News, Stock Advice & Trading TipsGiven that deal-making hasn't been a proven hallmark of U.S. President Donald Trump, I'm not holding my breath that today's market optimism for a partial trade deal with China won't be derailed by a tweet or temper tantrum. Of course, something else out of left field or maybe the continued saga of Donald and the Giant Impeach could always find Wall Street pulling up its bootstraps and getting defensive again. * 7 Beverage Stocks to Buy Now With all of that said, I'm recommending investors stick with blue-chip stocks. Risk-assets of this caliber have prevailed over bear markets, weathered all sorts of political theater and will pay investors for their patience. And right now three of these names also enjoy negotiating power for bulls on the price charts. Blue-Chip Stocks to Buy: Disney (DIS)Disney (NYSE:DIS) is the first of the blue-chip stocks to buy. The diversified entertainment giant hit all-time-highs in late July fueled by a breakout from a near three-year long triangle pattern.Shares of this blue-chip pay investors a below-market dividend of 1.36%. That's nothing to write home about, but it's a little something for your time. Moreover, DIS stock offers investors nice prospects for continued growth. And my guess is Disney's deeper move into the streaming market with Disney+ later this year and against the likes of Netflix (NASDAQ:NFLX), Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL), will prove to be the company's newest stock booster.With an oversold DIS stock pulling back to test its 40-week simple moving average, lower Bollinger Band and 50% retracement level in an inside doji bottoming pattern, this blue-chip stock is nearly ready to buy.DIS Stock Strategy: My advice is to buy DIS stock on confirmation of the two-week candlestick bottoming pattern as shares trade through $131.78. I'd give this blue-chip stock a bit of wiggle room, but if shares fall below $126.50, exiting the position and keeping the powder dry for stronger opportunities makes sense. Cisco Systems (CSCO)Cisco Systems (NASDAQ:CSCO) is the next of our blue-chip stocks to buy. And you can thank Goldman Sachs for putting CSCO stock into a better position for buying. On Thursday, the investment firm warned Cisco's enterprise revenues will weaken while its telecom spending will remain at depressed levels. Investors reacted by sending shares down 1.47%.The combination in CSCO stock I'm looking at is much more upbeat. Today's buyers can get into this blue-chip as it offers a 3% yield backed by price action that's setting up a corrective double-bottom inside a very strong technical support zone. * 10 Winning Stocks to Buy and Stick With for the Long Haul CSCO Stock Strategy: My advice in this blue-chip stock is to buy shares next week if the hammer candlestick is confirmed above $48.13. All chips are off the table if the pattern fails and investors would be smart to exit or risk a much larger correction toward possibly $40 a share. AT&T (T)Not that I've saved the best for last, but AT&T (NYSE:T) is a blue-chip stock whose attractive income stream of 5.50%, relative strength and pattern on the price chart make it ripe for buying.Shares are in position to stage a breakout from a tight multi-week consolidation that has found support from prior highs and above T stock's cup-shaped base of nearly 2.5-years. Bullish investors might also see the current pattern as a "high" handle formation. Either way, the price action bodes well for a continued rally into 2020.T Stock Strategy: The plan for buying this blue-chip stock is simple. Wait for T stock to trade above resistance and purchase shares through $38.22. And respect the pattern low for exiting if needed, as an even larger yield may not be worth the trouble.Disclosure: Investment accounts under Christopher Tyler's management do not currently own positions in securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post 3 Blue-Chip Stocks to Buy In October appeared first on InvestorPlace.
Northwest Broadcasting, which has 18 stations in 10 markets, has reached a deal with the Dallas company, which has clashed with others this year as well.
Netflix's (NFLX) third-quarter 2019 results are likely to be driven by a robust content portfolio. However, intensifying competition remains a concern.