46.36 0.00 (0.00%)
After hours: 6:38PM EDT
|Bid||46.27 x 1800|
|Ask||46.41 x 1200|
|Day's Range||46.17 - 46.82|
|52 Week Range||32.61 - 47.27|
|Beta (3Y Monthly)||0.99|
|PE Ratio (TTM)||17.71|
|Earnings Date||Oct 24, 2019|
|Forward Dividend & Yield||0.84 (1.80%)|
|1y Target Est||49.42|
Investing.com - Roku shares were hit hard Friday after a Wall Street analyst rated the stock a sell and slapped it with a $60 price target.
(Bloomberg) -- Roku Inc. shares suffered their second double-digit percentage drop of the past three trading days on Friday, as concerns over competition once again pressured a stock that has quadrupled since December.Shares of the the video-streaming platform company sank as much as 18% in midday trading, its biggest one-day percentage loss since November, dropping on volume that already eclipsed its daily average volume over the past three months. The stock was trading at a six-week low, and on track for a weekly drop of more than 25%.With the decline, Roku has lost about 35% of its value since a record close hit earlier this month. Even with the drop, however, shares remain up more than 300% from a December low as investors see the company as a major beneficiary to a shift toward streaming video.Friday’s decline was sparked after Pivotal Research Group started coverage on Roku shares with a sell rating and Street-low price target of $60, a target that represents downside of more than 55% from the company’s Thursday close.Analyst Jeffrey Wlodarczak wrote that shares were “dramatically overvalued” after the 2019 rally, and that he sees “dramatically more competition emerging.”Pivotal’s comments spoke to an issue that also weighed on Roku on Wednesday, after Facebook Inc. debuted a new model of its Portal video device that will have access to some streaming services, and Comcast Corp. said its Xfinity Flex box would be included with Internet-only subscriptions.Wlodarczak sees such developments as a harbinger of things to come. He anticipates “dramatically more competition,” including from “big boys” like Comcast, whose plan “will inevitably be copied by other distributors”, and “likely drive the cost of [over-the-top video-streaming] devices to zero.”These rivals have “massive leverage,” he wrote, and are likely to make growth “much more difficult.”This bearish view is a minority opinion. Pivotal is only the second firm to recommend selling Roku shares, according to data compiled by Bloomberg, compared with the stock’s nine buy ratings and the five firms with a neutral view on the stock.As occurred following the week’s previous drop, Roku bulls defended the name as shares declined. Needham analyst Laura Martin called it “the gold-standard pure play” of video streaming, one that was “underscored by flawless (our word) execution” and a continually expanding total addressable market.The firm reiterated its buy rating and $150 price target in a note to clients. “Even if Roku’s hardware sales went to zero TOMORROW,” the financial downside “would be minimal” as it accounts for just 5% of its gross profit, Martin wrote (emphasis in original).Separately, Oppenheimer on Friday affirmed its outperform rating despite the “pending SVOD war,” referring to streaming video on demand. “Roku’s U.S. strategy play-book should allow fast international market share,” the firm wrote. “Many new services are playing catch-up in a crowded market, with limited scaled platforms to add [subscribers].”The firm raised its price target to $155 from $120, and was at least the second firm this week to boost its view on Roku’s international potential, following a similar move from Guggenheim on Wednesday.Currently, analysts expect full-year revenue growth of about 48% for 2019, and 36% growth in 2020, according to data compiled by Bloomberg. According to a Bloomberg MODL forecast, Roku is expected to have about 36.2 million active accounts at the end of 2019.To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven Fromm, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Video-streaming space gets increasingly crowded as Comcast and Facebook join the bandwagon. However, intensifying price war and fight for exclusive rights are threats.
Roku (ROKU) shares closed down almost 14% on Wednesday as social media giant Facebook (FB) announced that they would be jumping on the streaming bandwagon.
Comcast today announced that Xfinity Flex is now included with an Xfinity Internet-only subscription, providing millions of new and existing customers with the ability to easily access their favorite streaming services and manage their connected home devices right on the TV. Xfinity Flex leverages Xfinity X1 technology to deliver a truly differentiated platform and add incredible value for streaming-first Internet customers. Xfinity Flex comes with an Internet-connected, 4K UHD streaming TV device, the award-winning Xfinity Voice Remote, a redesigned guide, and nearly 10,000 free movies and TV shows.
Defending IndyCar Champion Scott Dixon weighs in on how traditional sports are 'in limbo' as viewers gear up to tune into the IndyCar Grand Prix of Monterey.
The S&P 500 ended marginally higher on Wednesday after Federal Reserve policymakers cut interest rates by a quarter of a percentage point, as expected, but gave mixed signals about their next move. With continued economic growth and strong hiring "the most likely outcomes," the Fed nevertheless cited "uncertainties" about the outlook and pledged to "act as appropriate" to sustain the expansion. Stocks sold off immediately after the Fed's announcement but rebounded during Chairman Jerome Powell's press conference.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.
Roku (ROKU) shares have fallen close to 7% in early market trading today. Investors are worried after Comcast (CMCSA) announced Xfinity Flex.
Comcast Business today announced that John L. Scott Real Estate, one of the top 20 residential real estate brands in the nation, relies on Comcast’s high-speed Business Internet for quick, reliable service.
Roku's stock tumbled nearly 14% and was on track for its worst one-day loss since March as investors reacted to the increased competition against the Silicon Valley company's own streaming products. Roku's stock has surged over 300% in 2019 and recently traded at almost 13 times expected sales, according to Refinitiv data. "We are having a tough time justifying Roku's valuation, especially facing such substantial competitors as Amazon, Apple and Google.
Peacock, which will also offer classic sitcoms like "The Office" and "Parks and Recreation", is scheduled to launch in 2020, NBCUniversal said. The company owns traditional television network NBC, whose logo features a peacock.
(Bloomberg Opinion) -- AT&T Inc. is a very different company today from the wireless-service provider it was five years ago. CEO Randall Stephenson, who transformed AT&T by acquiring pay-TV and media assets such as HBO, is now eyeing retirement. It raises the question of whether the man who appears to be the next in line – John Stankey, another three-decade veteran of the phone business – is the right person for the job.Stephenson, who has been at the helm since June 2007, is interested in stepping down as soon as next year, the Wall Street Journal reported Friday, citing unnamed sources. For much of his 37 years at the telephone giant, Stephenson has worked alongside Stankey, who he’s been priming to take over as the next CEO. While speaking at an investor conference Tuesday morning, he praised Stankey’s leadership, saying that he would have to be on “the very short list of people” who could run AT&T’s diverse set of businesses. But Stankey has also emerged as a controversial figure within AT&T, so much so that his recent promotion to the role of chief operating officer is largely what motivated Elliott Management Corp. to press ahead with an activist investor campaign, according to people familiar with the shareholder’s thinking. (Last week, Elliott sent a public letter to AT&T’s board calling for it to review ways to improve earnings and the stock price.)AT&T may benefit from running a broader search for Stephenson’s replacement, and outside pressure led by Elliott may give the board one more reason to do so. The $273 billion company could use someone with more expertise in growing media properties and who’s willing to part with weaker assets that are serving as distractions. While wireless data plans and business connectivity services still drive the bulk of AT&T’s profits, the company generates half its revenue elsewhere, such as pay-TV subscriptions, cable networks and the box office.Under Stephenson, 59, AT&T morphed into a communications and media conglomerate through the 2015 acquisition of DirecTV for $67 billion, followed by last year’s $102 billion takeover of Time Warner, a business unit now called WarnerMedia. Stankey, 56, is in charge of WarnerMedia, in addition to his new duties as COO of AT&T. During Stephenson’s tenure, Stankey has been his go-to for overseeing special projects, such as buying spectrum and helping the Time Warner merger clear the courts.Stephenson has been criticized for his bold dealmaking, and yet I don’t think his plan to reinvent AT&T was inherently bad. He has a vision for the company to be a leader in entertainment, which people are increasingly consuming on mobile devices, and 5G wireless networks like AT&T’s will facilitate more of that. But Stephenson did overpay for DirecTV, and he may have underestimated the challenge of integrating both that business and WarnerMedia, the latest tasks assigned to Stankey. As two executives who have worked in the telephone industry since their early 20s, they perhaps not surprisingly may have difficulty operating media assets, especially at a time when Netflix Inc. has changed what it means to watch TV.AT&T’s lagging stock price looks to be the consequence of an incoherent strategy and an attempt to juggle too many things at once: building 5G, devising a plan for WarnerMedia, paying down debt and managing the decline of the DirecTV satellite business. There have also reportedly been tensions between Stankey and his new Hollywood employees. It’s said that his approach and at times irascible personality have clashed with that of WarnerMedia’s veterans. Richard Plepler, the former HBO boss, is among those who have departed. One can see why Stankey’s attempt to break down silos in WarnerMedia was a necessary step and one that wouldn’t sit well with legacy top brass. And to his credit, he brought in Bob Greenblatt, who formerly ran Comcast Corp.’s NBCUniversal and before that Showtime, to manage WarnerMedia’s entertainment properties and streaming platforms. It also seems likely that Stankey will name a new chief to oversee all of WarnerMedia. Still, it’s concerning that more of HBO’s top people are said to be leaving in the next few weeks, in part due to frustrations with Stankey, as NBC News reported Tuesday morning.The capstone project of Stankey’s WarnerMedia integration is HBO Max, a Netflix-like streaming-TV service that’s expected to launch next spring. Plans for that service seem to be ever-changing, and Stankey’s handling of the roll-out stands in contrast to Walt Disney Co.’s meticulous approach to the Disney+ app, which launches Nov. 12. WarnerMedia also recently struck a production deal with director J.J. Abrams for an exorbitant amount of money that a company like Disney probably wouldn’t have offered, as I wrote last week. A key date for Stankey and WarnerMedia is Oct. 29, which is when investors will get a first look at HBO Max.The topic of succession is a valid concern. Any conglomerate could benefit from having a CEO for whom there are no sacred cows. At best, Stankey may promise more of the same, which investors haven’t been that pleased with lately. At worst, he could be at risk of botching AT&T’s transformation. His compensation looks high when viewed through that lens. After the Time Warner deal closed in June of last year, Stankey’s base salary more than doubled to $2.9 million, which AT&T said was “to reflect the increased scope and complexity of his new role as CEO of WarnerMedia.” He also received a $2 million “merger completion bonus.” Including stock grants and performance-linked awards, Stankey’s total realized compensation was $12.74 million. That was 89% higher than what John Donovan, the outgoing CEO of AT&T Communications – a division larger than WarnerMedia – earned in 2018. (1)The Wall Street Journal reported that the board supports Stankey, citing a person familiar with its thinking who said there aren’t many outside the company “who would be obvious candidates to run a complicated media and communications business.” But isn’t it at least worth looking around? And if the answer is that no one is capable of doing it, then perhaps all these businesses don’t belong together.(1) Stephenson earned $18.84 million. AT&T hasn’t said yet how Stankey’s pay will be adjusted to reflect his COO promotion.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Xfinity Communities today announced that it will provide residents of Vantage – an amenity-rich, off-campus housing property for Temple University students – with technology and entertainment solutions. Immediately upon move-in, residents will have access to secure property-wide WiFi and streaming video on any device. Designed and built by The Goldenberg Group, Vantage offers 984 residents a wide variety of the latest and most popular amenities including a community and game room, golf simulator, fitness center, and study lounge.
(Bloomberg) -- NBCUniversal revealed the name and initial lineup for its new online TV platform, aiming to challenge Netflix Inc. and other streaming rivals with more than 15,000 hours of programming.The service, slated to debut in April 2020, will be called Peacock, a tip of the hat to NBC’s logo. It will include reruns of NBC shows, including “The Office” and “Parks and Recreation,” as well as a slate of original shows, the Comcast Corp. division said on Tuesday.Peacock will join a crowded field of streaming services, all of which are fighting for TV viewers’ eyeballs and wallets. Walt Disney Co. and Apple Inc. are both launching offerings in November, while AT&T Inc.’s WarnerMedia is readying a product for early next year.Peacock’s original programming will include a “Battlestar Galactica” reboot from “Mr. Robot” creator Sam Esmail and the drama “Dr. Death” starring Alec Baldwin. It also will feature comedies from the likes of Jimmy Fallon, Seth Meyers and Lorne Michaels.The company will draw heavily on its vault of content. In addition to streaming reruns, Peacock will reboot the comedies “Saved by the Bell” and “Punky Brewster.”Peacock also will offer more than 3,000 hours of Spanish-language programming from Telemundo.To contact the reporter on this story: Nick Turner in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Netflix's (NFLX) acquisition of streaming rights of popular comedy Seinfeld will help it fill up the gap in its content portfolio post the departure of shows like Friends and The Office.
Comcast Business today announced new enhancements to the digital experience of the Comcast Business ActiveCore℠ software defined networking (SDN) platform that give enterprise users the flexibility to monitor their networks across multiple locations, branch offices or data centers anywhere, on any device or even, with the sound of their voice. The ActiveCore SDN platform now allows enterprises to take advantage of voice-enabled technologies to request and receive real-time network updates using any Amazon Alexa-enabled device. With simple voice commands, such as "Alexa, open ActiveCore" or "Alexa, ask ActiveCore, how my network is doing,” customers are provided insights into what is happening across their entire network, including sites that are up or down.