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Moody's Investors Service (Moody's) said that AT&T Inc.'s (AT&T, Baa2 stable) announcement that it is selling its 9.5% ownership stake in Hulu for $1.43 billion is credit positive for AT&T, although it will not impact its Baa2 credit ratings. While the Hulu platform is consistent with where traditional television services need to be heading, AT&T's 10% stake is not meaningful enough as compared to its wholly-owned hybrid linear-subscription video on demand (SVOD) services (i.e.
LOS ANGELES (AP) — When the last drop — or gallon — of blood is shed and an exultant victor has ascended to the Iron Throne, viewers may be split over how HBO's fantasy saga ended but they'll be joined in deprivation.
It is strange to think of Disney (NYSE:DIS) as the David against Goliath but, in this case, it is. Does that make it a worthy opponent stock to own over Netflix (NASDAQ:NFLX) for the next five years? In a word: yes.Source: Shutterstock Before you label me a NFLX hater, this is an assessment of risk and not a diss to Reed Hastings & Co. Since DIS reported in early February, Disney stock has come alive. The positive reaction to earnings was a fake out and shares of Disney fell before rallying twice for more than 15 percentage points, only to end up at about the same level as before the earnings. So, clearly, there is indecision on Wall Street with how to trade Disney stock.What to do here with it depends on your timeframe. DIS has been a proven performing stock for decades so in the long run, betting on it rising is the smarter option. So those interested in owning it for the future this is as good a time as any to buy it.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSince 2012, DIS stock rallied 160% in leaps and bounds until it stagnated around $105 per share for the last four years. Unless the stock market is about to crash and go into a sustainable descending pattern, I consider this as a consolidation period for DIS before it set on another leap higher. * The Elite 8 Stocks to Buy for Massive Outperformance The theme park and movie successes are never in doubt. These are almost always packed houses. In fact, they keep raising the admission prices to their theme parks to manage capacity. That isn't a bad problem to have.More importantly, when investors got nervous over the traditional media side, management took corrective actions on that front. As a result, ESPN+ is no longer a concern. So the base is set for Disney to pursue new venues. Netflix changed the world, making it so that all media consumption is done via streaming. As a result, traditional media is migrating online.To that, Disney recently took the fight to Netflix. It announced that it will launch Disney+, its own streaming service, pulling content from Netflix. Disney also made the bold acquisition of Fox's major assets. This includes gaining a larger stake in Hulu, which immediately makes Disney a formidable threat to the current king of streaming.Wall Street still doesn't give DIS the respect it deserves there because it still trails NFLX stock by a long shot (DIS stock is barely positive while NFLX is up 33% YTD). In five years, DIS is up 38% to NFLX's 640%. Clearly, the house of mouse has some catching up to do to win over more investors.Fundamentally, the odds are on Disney's side, but for now, NFLX has the momentum as long as it continues to grow aggressively abroad. How fast will Disney get out of the box is still a big question mark. History is on Disney's side, at least. Bottom Line on DIS StockIn the meantime, DIS stock is cheap. It sells at a price-earnings ratio of 15x and only 3x book value. This is literally ten times cheaper than NFLX on both counts. That makes the upside potential much larger than the downside risk in DIS as a play on streaming business.Conversely, NFLX has to execute flawlessly else its liable to fall whereas DIS has nothing but upside potential from streaming. Netflix clearly has the first-mover advantage, but that doesn't count a lot when the competition has deep pockets and cheaper content.The "cost of goods," so to speak, is so much cheaper for DIS. However, Netflix is notorious for spending billions every year. Disney already has existing content every kid on the planet wants. It can also create new content much more cheaply than Netflix. This will give Disney an operating advantage, so it can compete with thinner margins than the behemoth Netflix.Technically DIS stock is trading inside a five-year-long pivot zone. These usually are sticky because neither bulls or bears want to lose them, so they fight it out. In this case -- while the bulls are still in charge of the stock market -- this favors the upside for now. * 7 Materials ETFs to Buy Today Unless another shoe drops unexpectedly, DIS stock is likely to rally. So owning it here carries no undue risk to itself or the markets in general. Those who already own Disney stock and those who are familiar with options trading, should consider selling covered calls to create "synthetic dividends." The implied volatility remains elevated while equity markets are still nervous about the geopolitical uncertainties from the tariff war and Brexit.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. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Transformed Their Business * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos * 7 Weak Blue-Chip Stocks to Trim Immediately Compare Brokers The post Streaming Video Wars Will Spark a Rally in Disney Stock appeared first on InvestorPlace.
British Prime Minister Theresa May says Parliament will vote Thursday on whether to seek a delay to Britain's March 29 departure from the European Union. President Donald Trump has issued an emergency order grounding all Boeing 737 Max 8 aircraft in the wake of a crash of an Ethiopian airliner that killed 157 people, a reversal for the U.S. after federal aviation regulators had maintained it had no data to show the jets are unsafe. The decision came hours after Canada joined some 40 other countries in barring the Max 8 from its airspace.
Moody's Investors Service, (Moody's) assigned Baa2 ratings to AT&T Inc.'s (AT&T) proposed senior unsecured benchmark size debt offering. Moody's expects AT&T to use the proceeds for general corporate purposes, including the refinancing of existing debt.
There is hardly anyone on the planet who doesn't know the house of mouse. Disney (NYSE:DIS) is a household name everywhere. Notoriety has never been a problem for the stock, but its future is always in contention as critics are often quick to voice their concerns. Source: Baron Valium via Flickr Disney reports its earnings tonight and if we take cues from Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) earnings reaction, DIS investors should be nervous. But I am here to tell you that what ever happens overnight won't matter for long. The short term knee-jerk reaction to the earnings is always a binary event, so it's more betting than investing. Real investors in Disney stock will take their cues from what the management actually delivers and not from what so-called experts decide is good in one report. InvestorPlace - Stock Market News, Stock Advice & Trading Tips I have been a long-term fan of the stock even when it was stalled. I sold downside risk into dips to generate income. I mention this here to state that there is always value in the DIS stock regardless of the headline fears. Corrections in the stock when they come are buying opportunities. ### The Impact of DIS Stock Earnings The earnings report raises the implied volatility as traders brace for impact. Again, in the long run this won't matter one bit. I do recognize that for the next few quarters, the reports will be confusing as DIS stock will start reporting on its direct-to-consumer segments. Investors will need time to digest the new metrics. * 7 Stocks That Won Super Bowl Sunday Furthermore, management will update us on things Disney+ like launch dates and nail down the pricing. I bet that ESPN+ continues to perform well. And I never worry about the performance of Disney's theme parks or its movies, so I don't anticipate a bombshell. Technically, DIS stock trades erratically and in waves, and this is unusual for such a stable and mature company. But it does so inside predictable ranges, so its stock chart from that perspective is boring seesaw in the short term. So I don't over-react to small moves. Sometimes boring is beautiful, and in this case here, it's not a superstar stock like its new nemesis Netflix (NASDAQ:NFLX) for example. Yet, DIS still is up 45% in five years. While this pales against NFLX's 400%-plus gain, it is still respectable and in line with the S&P 500. It is safe to say that if markets crash, I would be more comfortable owning shares of DIS than NFLX. This is not to diss the streaming giant but a testament to the quality of Disney stock. I feel like it belongs in every balanced portfolio, especially now when we have so many headline threats looming into March. Given the recent big strategic moves that Disney management has made, I bet that there is confusion among Wall Street experts. The stock needs time for it to absorb new assets it acquired. Messy financial reports make for jittery stocks. And given how well it held up so far, I am encouraged that the worst of the volatility is almost over. They recently severed their ties to NFLX and will soon become a direct competitor to it in media streaming. While this, too, was a cause of worry to some traders, it's an opportunity unfolding. There are some uncertainties around the deployment process, but this is a small exercise in operational launch of a platform -- no different than installing a faucet. DIS stock is a proven team and I am confident that they can execute the plan with ease. They will install that faucet and start streaming in the income. The bigger challenge then is for analysts on how to grade the company going forward. Consequently, earnings reports could be confusing for a few quarters as they tackle project costs but so far are relatively tame. The rewards from the efforts will flow for years to come. Netflix proved to us that we prefer to consume media via streaming and that the trend is not going to reverse. Disney's expenses on their platform is money well spent. To state things simply, don't be nervous going into the earnings event. Disney is a proven winner that will continue to flourish for years to come. I expect that tomorrow's stock open will come down to guidance. If Disney sounds confident about its prospects then traders will embrace it. Other wise they may sell it off for a few days until they work it out of their system. Last night GOOGL reported its earnings and the dip is minor compared to what the options markets had priced in. So maybe the low VIX is bringing in milder reactions to disappointments. Click here for a bonus video that I recently shared discussing GOOGL stock coming into the earnings. 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. You can follow him as @racernic on Twitter and Stocktwits. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 F-Rated Stocks That Could Break Your Portfolio * 5 Fintech Stocks to Buy As This Mega Trend Gains Steam * 10 Cold Weather Stocks to Heat Up Your Returns Compare Brokers The post Disney Stock Always Has Value appeared first on InvestorPlace.
"Aquaman" is generating positive buzz and tracking for a healthy box office debut, sparking hopes that Warner Bros' troubled DC comics franchise has turned a corner.
My view on the pullback after the Euphoria is that even thought he net sub add for 4q was impressive, it does represent a high bar for the company to jump over. And the stock is still trading at 85 times next’s years EPS for 57% growth. And cash flow per share is still negative all the way into 2020. I guess another question is do you want to put your eggs in the Netflix basket when DIS, TWX, T, and Hulu ramp up their own streaming services. Ultimately isn’t Netflix just a content studio competing with a lot of other streaming content services? Does it look like some weird version of CBS at some point. CBS trades at 1.3x revenues – Netflix is 8x revenues. That won’t happen for a while – but is that the mentality of some investors? This is rare for me, but I don’t have a real opinion on this one – feels like no man’s land for the stock as it waits for direction from the market. Guess while I wait, I will watch The Crown or Stranger Things.
When it comes to the stock market, there are a bunch of positives. Corporate sales and earnings growth is as robust as it has been in recent memory. Thus, while investors should remain long the growth names that have powered this bull market higher, they also shouldn’t forget to pad their portfolios with some risk-protection through blue-chip dividend stocks.
The U.S. Chamber of Commerce and other powerful business groups asked an appeals court on Thursday to not undo AT&T Inc's (T.N) purchase of movie and TV show maker Time Warner, despite the protests of the Justice Department. The business groups argued that companies had long assumed that if they bought a supplier or distributor -- generally called a vertical merger -- that the deal would be considered good for the consumer and would be allowed. "The vague legal standard that the government ... advocate(s) would cloud the business community’s ability to ascertain whether vertical mergers are lawful, making it more difficult to invest in transactions with enormous potential to lower prices and enhance innovation—all of which benefit a diverse array of customers," the business groups said in a brief court filing.
NEW YORK (AP) — CBS says it has named media industry veteran Richard Parsons as interim chairman of the board as the company moves to reshape itself following the ouster of longtime chief Les Moonves.
Disney (NYSE:DIS) has been in competition with Comcast (NASDAQ:CMCSA) over buying assets from Twenty-First Century Fox (NASDAQ:FOXA) for a while. This morning, we learned the final result and Comcast prevailed in the bidding process. Disney stock is rallying on the news … and therein lies an opportunity.
Seemingly every streaming service is moving into original programming and AT&T-owned Crunchyroll is next to take a swing at it. Ellation Studios (also owned by AT&T) will start producing original shows for the anime-streaming service, starting with High Guardian Spice next year. Further details will be revealed at September's Crunchyroll Expo in San Jose, according to TechCrunch, but for now we know the show is about four girls at the magical High Guardian Academy where they'll train to become defenders of the city.
Verizon Communications Inc.’s snafu with limiting data speeds of California firefighters comes at an opportune time for rival AT&T Inc., which is striving to sign up public-safety customers to its FirstNet network. As the No. 1 wireless carrier, Verizon has long had an edge in serving emergency responders. The company made the technology available at its more than 5,300 retail locations last month, aiming to reach local agencies across the U.S.
'Game of Thrones' fans are thrilled that the series is back in action with a brand new season, but the most remarkable thing about the series is how its viewership grows with each season. Last night's season 8 premiere ranked in with one billion views. Yahoo Finance's Adam Shapiro and Julie Hyman discuss with the panel.
Actor Ben Affleck plans to pass the torch to a younger actor for "The Batman" set to be released in 2021. Chief investment officer Krishna Memanin joins Yahoo Finance's Adam Shapiro, Julie Hyman, and Dan Roberts to discuss.
It's a big blockbuster season for movie goers this of year and among the top must see films is "Aquaman," which is released today in theaters nationwide. Yahoo Finance's Adam Shapiro, Julie Hyman and Andy Serwer discuss with Fandango's managing editor, Erik Davis.
CBS is reportedly negotiating an exit package for CEO Les Moonves that could be worth up to $100M. Yahoo Finance's Seana Smith, Dion Rabouin, and Dan Roberts discuss along with Third Seven Advisors' Michael Block.
Rotten Tomatoes, the movie review site, is diversifying its list of critics. Yahoo Finance’s Dan Howley, Maylan Studart, and Ethan Wolff-Mann break down how this could impact the movie industry.