266.00 -0.69 (-0.26%)
Pre-Market: 7:34AM EDT
|Bid||266.22 x 1300|
|Ask||0.00 x 900|
|Day's Range||265.81 - 275.41|
|52 Week Range||231.23 - 385.99|
|Beta (3Y Monthly)||1.47|
|PE Ratio (TTM)||85.45|
|Earnings Date||Jan 15, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||360.05|
Verizon will offer Disney+ for free to Verizon Wireless and new home internet customers, as Disney+ and Apple TV+ both prepare to launch in November. Bernie McTernan of Rosenblatt Securities joins Yahoo Finance to discuss content and pricing.
Investors will be focused on the growth of Comcast’s Xfinity broadband internet business, which has formed a key part of many bullish analysts’ theses on the company.
Netflix Inc. tapped the high-yield bond market for another $2.2 billion on Tuesday to help it pay for new content as the battle for streaming customers heats up with a slate of new offerings on tap.
Netflix Inc. said late Tuesday that it had priced $2.22 billion worth of junk bonds. The streaming company is offering €1.1 billion ($1.22 billion) of its 3.625% senior notes due 2030 and $1 billion of its 4.875% senior notes due 2030. Netflix said it plans to use the junk-rated bonds for a range of purposes that includes content, production, develop and potential acquisitions. Netflix stock fell 0.1% in the extended session and closed down 4.1% during regular trading to $266.69.
LOS GATOS, Calif., Oct. 22, 2019 /PRNewswire/ -- Netflix, Inc. (NFLX) today announced the pricing of €1.1 billion aggregate principal amount of its 3.625% senior notes due 2030 and $1.0 billion aggregate principal amount of its 4.875% senior notes due 2030 (together, the "Notes"). The offering of the Notes was upsized from an originally announced aggregate principal amount of $2.0 billion. The Notes are being offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act.
All three major stock indexes closed in the red on Tuesday. There was good and bad news for supporters of both Brexit and Canadian Prime Minister Justin Trudeau. U.S. existing-home sales fell in September, while crude oil futures rose.
Biogen stock was a big winner Tuesday on news it plans to file for U.S. regulatory approval for its Alzheimer's treatment aducanumab.
Disney-Lucasfilm's new "Star Wars" movie has outsold this year's "Avengers" megahit in early ticket sales. Disney stock rose.
America's economy is showing cracks. It's not just the ongoing trade war with China. Global economic weakness unrelated to China is weighing here at home. Uncertainty around Brexit, instability in the Middle East are among the contributors. As a result, there are a number of vulnerable stocks to watch, as another push could send them over the cliff.Yes, the Federal Reserve is helping to ease the pain with lower interest rates. But consumers still are dealing with higher costs in health care, education and food. Consumer spending, which has been a sign of strength of late, even started to turn recently, cooling off in August.Several stocks already are showing serious fundamental issues, such as stagnant growth, high levels of debt, lack of free cash flow (FCF; essentially, what's left over once the company spends and invests to maintain and expand its business). Continued volatility in the market could exacerbate the drop in currently falling stocks, and start the slide in others. In some cases, a broader market downturn on sentiment alone could do the trick; in others, further signs of economic fragility could unleash the sellers.Here are 13 vulnerable stocks to watch. Some of these are deeply troubled stocks that might not warrant investor funds even in a strong market. A few are more stable companies that could experience outsize stock losses from temporary weakness - but might warrant buying on a future dip. SEE ALSO: The Pros Say No: 7 Large-Cap Stocks to Sell or Avoid
Netflix says 64 million households watched "Stranger Things 3" in its first month and 32 million households watched “Unbelievable." Are those figures believable?
(Bloomberg) -- Netflix Inc. sold around $2.2 billion of bonds in the U.S. and Europe as it continues to bolster its original content in the face of expanding competition.Investors bought $1 billion of dollar-denominated bonds and 1.1 billion of euro bonds ($1.2 billion) from the TV streaming company, data compiled by Bloomberg show. Netflix had said Monday it would sell about $2 billion of debt with the proceeds being used for general corporate purposes, including content purchases and production as well as potential acquisitions, according to a statement.The dollar-denominated 10.5-year bonds, which can’t be bought back, will yield 4.875%, down from around 5.125%, according to a person with knowledge of the price talk. The euro notes, which have the same maturity, will pay 3.625%, after initially discussing around 3.875%, the person said, asking not to be identified as the details are private.Netflix issued debt after reporting earnings that beat analyst estimates and saw overseas growth that helped sooth investors’ concerns about a slowdown at home. The company burned through $551 million of cash in the third quarter and is “slowly” moving toward becoming free cash flow positive, Chief Executive Officer Reed Hastings said in a letter to shareholders last week. In the meantime, Netflix will continue to tap the high-yield market for its investment needs, he said.The Los Gatos, California-based company reiterated expectations to burn through $3.5 billion in cash this year as the war for content heats up. It’s been raising prices -- often at the expense of subscriber gains -- in some of its largest territories, trying to shift toward profitability as streaming service competition mounts from companies such as Walt Disney Co., AT&T Inc. and Apple Inc.Netflix has historically relied on the high-yield bond market to finance its growth, typically issuing debt following its first- and third-quarter earnings in April and October, respectively. Its debt load, including operating lease liabilities, has steadily grown to around $13.5 billion since first tapping the market in 2009, according to data compiled by Bloomberg.Netflix has become one of the largest issuers in the U.S. junk-bond market. Its dollar bonds may have a market value in the $10 billion to $10.5 billion area, placing Netflix as the 11th largest borrower in the benchmark Bloomberg Barclays U.S. Corporate High Yield Bond Index, according to Bloomberg Intelligence.What Bloomberg Intelligence Says“Netflix may issue new junk bonds for several more years as proceeds from debt sales fuel not only free-cash-flow deficits, but also repayment of bond principal. While Netflix may not produce free cash flow until 2023, it must address a $500 million bond principal in 2021 and another $700 million in early 2022.”\--Stephen Flynn, corporate credit analystClick here to view the research reportThe company last borrowed $2.24 billion of junk bonds in April, and said that it would reduce its reliance on debt financing at the time. CEO Hastings walked back that language in a July letter to shareholders, saying Netflix planned to still use the high-yield market to fund content investments.Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co., Deutsche Bank AG and Wells Fargo & Co. managed the bond sale, the data show.\--With assistance from Rizal Tupaz, Laura Benitez and Gowri Gurumurthy.To contact the reporters on this story: Molly Smith in New York at firstname.lastname@example.org;Elizabeth Rembert in New York at email@example.comTo contact the editor responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Netflix Inc. is mobilizing ahead of the launch of two big new competitors in November with an armory of 59 new offerings next month, including the arrival of 43 original programs.
All Verizon wireless unlimited customers as well as new Fios Home Internet and 5G Home Internet customers will get a year of Disney's new streaming service for free.
What’s coming to Netflix next month includes 43 original programs as competition increases; the company plans to issue more debt to fund new projects
(Bloomberg) -- Verizon Communications Inc. will give wireless subscribers a year of free access to Walt Disney Co.’s upcoming Disney+ video service, as the streaming battle heats up against established players Netflix Inc. and Amazon.com Inc.’s Amazon Prime Video.Existing Verizon mobile customers and new Fios Home customers are eligible for the service, which Disney plans to launch on Nov. 12 for $6.99 a month, the telecom company said Tuesday. Netflix shares fell as much as 3.5%, while Disney rose as much as 2.4%.The move highlights the largest U.S. carrier’s strategy of attracting customers by partnering with media companies rather than owning its own programming, unlike its peer AT&T Inc. Verizon is fighting for subscribers against the popular T-Mobile US Inc., which offers free Netflix service to its customers.Verizon already offers a free trial of Alphabet Inc.’s YouTube TV to all of its new 5G Home customers. The choice of Disney+, featuring programming from Marvel, Pixar and other family-friendly outlets, comes just weeks ahead of Apple Inc.’s expected launch of Apple TV+, a $4.99-a-month streaming service.Next week, AT&T is scheduled to outline more details about its HBO Max streaming service, which the company plans to launch next year. AT&T needs a successful rollout to help justify its media strategy, which is under scrutiny from activist investor Elliott Management Corp.(Updates with Netflix, Disney stock moves in second paragraph.)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, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Verizon said Tuesday it will give customers free one year access to Walt Disney Co (NYSE: DIS)'s new streaming platform, Disney+. The promotion will be made available to existing and new Fios Home Internet and 5G Home Internet customers. Verizon will make the promotion available across any platform as of Nov. 12.