NFLX - Netflix, Inc.
266.50 -0.19 (-0.07%)
After hours: 7:59PM EDT
| Previous Close | 278.05 |
| Open | 271.16 |
| Bid | 266.15 x 1200 |
| Ask | 266.50 x 1100 |
| Day's Range | 265.81 - 275.41 |
| 52 Week Range | 231.23 - 385.99 |
| Volume | 11,865,593 |
| Avg. Volume | 8,754,793 |
| Market Cap | 116.877B |
| Beta (3Y Monthly) | 1.47 |
| PE Ratio (TTM) | 85.45 |
| EPS (TTM) | 3.12 |
| Earnings Date | Jan. 15, 2020 - Jan. 20, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 360.05 |
- Yahoo Finance
Can we trust Netflix's viewership numbers?
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 Sells $2.2 Billion of Junk Bonds to Fund More Content
(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 msmith604@bloomberg.net;Elizabeth Rembert in New York at erembert@bloomberg.netTo contact the editor responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Yahoo Finance
How YouTube's 'snackable' content could change the streaming landscape
“YouTube has got a really strong hold on the market around the snacking of content,” says one analyst.
- Bloomberg
Disney+ Lands Verizon Deal as It Prepares Attack on Netflix
(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 smoritz6@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Yahoo Finance
Verizon to give some customers 12 months of free Disney+
Verizon and Disney team up to make a big splash around the launch of the entertainment giant's streaming service launch.
- Investing.com
Netflix Tumbles Midday as Verizon Gives Away Disney+
Investing.com - The streaming wars have begun and Netflix (NASDAQ:NFLX) is the first one to take a hit.
- Bloomberg
Excitement Is Starting to Fade for Glamour Stocks
(Bloomberg Opinion) -- Glamour stocks may be losing their allure.Buying profitable businesses at a reasonable price is one of the oldest and most trusted — and some might say boring — playbooks in investing. The father of security analysis, Benjamin Graham, plied the strategy, as did his protege Warren Buffett, legendary mutual fund manager Peter Lynch and countless other stock investors. But there’s been little interest in it in recent years, at least when it comes to U.S companies.Instead, investors have been betting on glamour stocks — companies with big expectations and pricey shares, but little or no profit — in the hope that they will blossom into cash cows like Facebook Inc. or Google parent Alphabet Inc. Think, for example, electric car maker Tesla Inc. or online video service Netflix Inc., or even pot stocks.Glamour has paid off big, not because those companies are suddenly minting fat profits — on the contrary, many still lose money — but because their popularity has boosted their stock prices. Glamour stocks, or shares of the most expensive and least profitable U.S. companies, have outpaced boring stocks, or shares of the cheapest and most profitable companies, by an astounding 16.8 percentage points a year over the last six years through August, including dividends. That’s when they began to take off relative to boring stocks, according to numbers compiled by Dartmouth professor Ken French.It’s not a bet for the faint of heart. Glamour stocks are likely to continue fetching high prices as long as investors hold out hope that profits will materialize, but if they tire of waiting, the reversal could be intense because glamour stocks have a lot of room to deflate. They traded at a weighted average price-to-book ratio of 10.1 as of August, compared with just 0.8 for boring stocks. Since 1963, the first year for which numbers are available, that difference was only higher during the height of the dot-com bubble in 1999, and not by much. In fact, there are signs that investors are beginning to lose their patience. Some of the most highly anticipated initial public offerings of glamour companies this year have been a bust so far. Shares of ride-hailing companies Uber Technologies Inc. and Lyft Inc. are down 30% and 43%, respectively, since their public market debuts. The ETFMG Alternative Harvest ETF, the first U.S.-listed marijuana exchange-traded fund, has tumbled 51% over the last year. And who can forget WeWork’s implosion from a $47 billion valuation in January to a proposed bailout that could value the office-sharing company below $8 billion.It’s not just a few companies. I compared the stock price performance of the companies in the Russell 3000 Index with their profitability over the last year. Roughly 45% of companies posted a profit margin greater than the weighted average margin for the index, and their stock prices rose by an average of 2%. By contrast, the stocks for the 30% with a profit margin less than the index declined by an average of 3%, and the remaining 25% that lost money were down an average of 10%. The results are similar when looking at other measures of profitability such as return on equity.Those results are also echoed by French’s numbers. His glamour stocks are down 4.3% over the last year through August, while the boring ones are up 6.4%.Even if the recent reversals turn out to be a short-term blip, investors must also navigate the likelihood that many glamour stocks will disappoint eventually, if they survive at all. That’s evident in their unflattering longer-term record. Glamour stocks have beaten boring ones just 25% of the time over rolling six-year periods since July 1963, counted monthly. And the vast majority of those victories are clustered around only two periods — the current one and a similar growth-at-any-cost binge during the late 1960s and early 1970s.That earlier episode is instructive. Then as now, investors eagerly paid any price for companies that held out the promise of outsized growth. The results were great while everyone played along. During the six-year period from October 1966 to September 1972, glamour stocks beat boring ones by 16.8 percentage points a year, a margin that matches glamour’s success over the last six years. But when those companies stumbled or failed to deliver on their promise in the ensuing years, investors abandoned them. During the following six years that ended in September 1978, glamour’s fortunes reversed, and boring stocks won by 17.3 percentage points a year. Sure, those with the foresight to pick future winners from a sea of glamour stocks have little to worry about. But, to rip off Dirty Harry, this might be a good time for investors to ask themselves one question: Do I feel lucky?To contact the author of this story: Nir Kaissar at nkaissar1@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nir Kaissar is a Bloomberg Opinion columnist covering the markets. He is the founder of Unison Advisors, an asset management firm. He has worked as a lawyer at Sullivan & Cromwell and a consultant at Ernst & Young. For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Investing.com
Netflix Falls 3%
Investing.com - Netflix (NASDAQ:NFLX) fell by 3.01% to trade at $269.59 by 09:47 (13:47 GMT) on Tuesday on the NASDAQ exchange.
- Bloomberg
Netflix Borrowing $2 Billion as War for Content Heats Up
(Bloomberg) -- Netflix Inc. is selling bonds as it continues to bolster its original content in the face of expanding competition.The company is offering around $2 billion of bonds between dollars and euros, according to a statement Monday. The proceeds of the sale will be used for general corporate purposes, which may include content acquisitions, production and development and potential acquisitions.The dollar-denominated 10.5-year bonds, which can’t be bought back, may yield around 5.125%, while the euro notes could pay in the high 3% range, according to people with knowledge of the matter, who asked not to be identified as the details are private. Given Netflix’s current trading levels, it could realize a blended coupon rate of less than 4.25%, according to Bloomberg Intelligence analyst Stephen Flynn.Netflix is issuing 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.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.Netflix’s bonds were little changed in New York trading on Monday. The stock closed 1% higher at $278.05.Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co., Deutsche Bank AG and Wells Fargo & Co. are managing the bond sale, according to a separate person with knowledge of the matter. The notes are expected to price Tuesday, the person said, asking not to be identified as the details are private.(Updates with pricing in the third paragraph, trading in penultimate paragraph)\--With assistance from Rizal Tupaz, Laura Benitez and Gowri Gurumurthy.To contact the reporters on this story: Molly Smith in New York at msmith604@bloomberg.net;Elizabeth Rembert in New York at erembert@bloomberg.netTo contact the editor responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Market Realist
Apple Overtakes Microsoft in $1 Trillion Race
The race for $1 trillion in market capitalization continues between Apple and Microsoft. On Friday, Apple overtook Microsoft. So what's next?
- Market Realist
Are Netflix Investors Overreacting to Competition Woes?
Netflix has been a hotbed of speculation over the past few weeks. The run-up to its third-quarter results saw bursts of optimism and disappointment.
- Zacks
The Zacks Analyst Blog Highlights: Twitter, Facebook, Netflix, Amazon and Snapchat
The Zacks Analyst Blog Highlights: Twitter, Facebook, Netflix, Amazon and Snapchat
- Zacks
The Zacks Analyst Blog Highlights: Netflix, Roku, Discovery, SINA and iHeartMedia
The Zacks Analyst Blog Highlights: Netflix, Roku, Discovery, SINA and iHeartMedia
- Zacks
The Zacks Analyst Blog Highlights: Facebook, UnitedHealth, HSBC, PetroChina and Netflix
The Zacks Analyst Blog Highlights: Facebook, UnitedHealth, HSBC, PetroChina and Netflix
- The Motley Fool
1 Top Canadian Tech Stock That Beats Netflix (NASDAQ:NFLX)
Netflix Inc. (NASDAQ:NFLX) is facing down fierce competition from other content streamers, while a Canadian tech stock offers higher returns.
- Yahoo Finance
Netflix scores big with 'Breaking Bad' but streaming wars loom large
Netflix is betting heavily on original content slate, but the streaming wars loom large.
- Zacks
What's Next for Netflix Stock After Q3 Earnings as Apple & Disney Launch?
Netflix's post-release positivity was short lived as NFLX stock fell Thursday and slipped another 6% Friday. Now what?
- Market Realist
Netflix Stock: The Decline May Just Be Starting
Netflix is down 6.1% today, and some traders are actively betting that Netflix stock will plunge in the coming weeks and months. Here's why.
- Market Realist
Should Investors Buy during the Roku Stock Rally?
Roku (ROKU) stock has rallied 35.8% month-to-date, rising 16.7% this week alone. Fears are now easing and investors are reacting to positive news on Roku.
- Zacks
3 Tech Stocks for Growth Investors to Buy During Q3 Earnings Season
Let's dive into three tech stocks that we found using our Zacks Stock Screener that growth investors might want to consider buying during Q3 2019 earnings season...
- Zacks
Top Analyst Reports for Facebook, UnitedHealth & HSBC
Top Analyst Reports for Facebook, UnitedHealth & HSBC
- Market Realist
Netflix, Alteryx, and Okta Lead Tech Losses Today
In the September quarter, Netflix sales rose 30% to $5.2 billion. The company's sales were marginally below the estimates of $5.3 billion.
- Zacks
Stock Market News for Oct 18, 2019
Major U.S. market indexes moved moderately north on Thursday, owing to a newly proposed Brexit deal and impressive third-quarter earnings results.
- Zacks
AT&T's Xandr Acquires Clypd to Boost TV Advertising Business
The acquisition will facilitate Xandr to introduce personalized TV ads and augment its linear TV ad space to Xandr Community, leveraging the technological prowess of its parent firm AT&T (T).
