|Bid||0.00 x 21500|
|Ask||0.00 x 2900|
|Day's Range||37.61 - 37.86|
|52 Week Range||26.80 - 38.75|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||15.95|
|Earnings Date||Oct. 23, 2019|
|Forward Dividend & Yield||2.04 (5.40%)|
|1y Target Est||36.50|
This is the first time a streaming provider has obtained rights to Ghibli's films, WarnerMedia said on Thursday. Co-founded by master animator Hayao Miyazaki, the studio is known for its intricate, hand-drawn animation and imaginative coming-of-age story lines that made films like 1988's "My Neighbor Totoro" into an international hit. HBO Max will offer more than a dozen original shows and movies from stars including Reese Witherspoon and Anna Kendrick, as it prepares to go head-to-head with rival services from Netflix Inc , Walt Disney Co and Apple Inc .
Bernstein analyst Peter Supino initiated coverage of AT&T; stock with a “market perform” rating. However, the stock was down yesterday. Here's why.
Investment group PPF, owned by the Czech Republic's richest man Petr Kellner, is close to concluding talks on buying a majority stake in Central European Media Enterprises (CME) from U.S. firm AT&T , Czech and Bulgarian media reported on Thursday. AT&T holds 64% of CME's common stock but effectively controls 75% of the company through preferred shares. CME, which operates TV stations in the Czech Republic, Bulgaria, Romania, Slovakia and Slovenia, has a market capitalisation of $1.13 billion (880.20 million pounds), according to Refinitiv data.
While AT&T (T) intends to sell its wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands, Ericsson (ERIC) is offering support services to rural Wireless Internet Service Providers across the United States.
(Bloomberg) -- Netflix Inc. jumped the most in nine months after its third-quarter results allayed concerns about looming competition from Walt Disney Co. and Apple Inc.The company added 6.77 million subscribers in the third quarter, with stronger-than-expected growth overseas, it said Wednesday after markets closed. Earnings also topped Wall Street estimates, letting investors overlook a tepid forecast for the final quarter of the year.Investors had been bracing for a weak showing after Netflix delivered a disappointing quarter three months ago. The stock had been flagging for weeks. The actual results -- though far from perfect -- were a relief, sending the shares up as much as 7.9% in New York trading Thursday.“It was a really strong quarter -- not just around subscribers, the overall business performance,” Chief Financial Officer Spencer Neumann said in a taped interview with Guggenheim Securities analyst Michael Morris.International markets account for almost all of Netflix’s growth -- and most of its total customers. The world’s largest paid online TV network signed up 6.26 million new users outside the U.S., beating forecasts. Netflix expects to sign 7 million more international customers during the current three months, ending the year with its strongest overseas growth to date.The company benefited from new seasons of a couple of its most popular shows. The teen science-fiction show “Stranger Things” was viewed by 64 million households in its first four weeks, making it the most-watched season of original programming on Netflix. A new season of “La Casa de Papel,” a Spanish heist series, was viewed by 44 million households. It was Netflix’s most-watched show in non-English-speaking countries.Netflix is looking to stoke demand outside the U.S. by investing more in international original series. The company has already released 100 seasons of local language scripted series from 17 countries, and plans to release more than 130 next year alone.Overseas markets will be even more important in the face of new competition from Disney, Apple, Comcast Corp. and AT&T Inc. All four of those companies will introduce new streaming services in the next few months, starting in the U.S. While the final three months of the year are typically among the company’s strongest, Netflix expects to add a total of 7.6 million more customers in the fourth quarter -- fewer than it did a year ago.‘Noisy’ LaunchThe new services from Disney and Apple both launch next month. The Disney+ platform is geared toward kids and families, with hundreds of movies and shows, including Star Wars, Avengers and Pixar fare. Apple’s product is more adult-oriented and has less content.“The launch of these new services will be noisy,” Netflix said in its quarterly letter to investors. “There may be some modest headwind to our near-term growth, and we have tried to factor that into our guidance.”The stock has taken a beating lately, dropping 21% since the prior quarter’s miss was announced in July. Even after the latest rally, it’s not back to its summertime highs, but Netflix has restored the faith of many investors.Third-quarter revenue grew 31% to $5.24 billion, just shy of Wall Street projections. Profit increased to $1.47 a share, easily beating analysts’ estimates of $1.05. This quarter, the company forecasts earnings of 51 cents a share on sales of $5.44 billion. Both are below Wall Street estimates.Recent price hikes have lifted both profit and revenue. Those increases have slowed subscriber growth in the U.S., however. Gains in the U.S. last quarter amounted to just 520,000 new accounts, and the company is going to post its weakest growth at home in years, adding just 2.7 million customers this year.The Los Gatos, California-based company will continue to use the junk-bond market to finance its programming costs, which are expected to total about $15 billion this year.Netflix didn’t say whether it would increase prices again any time soon. It does plan to test more mobile-only and cheaper plans in poorer countries across Asia, where it has the most room to grow.“We’re incredibly low-priced compared to cable,” Chief Executive Officer Reed Hastings said. “We’re winning more and more viewing.”To contact the reporter on this story: Lucas Shaw 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.
(Bloomberg Opinion) -- Netflix Inc. is approaching a litmus test of its sustainability.The company said on Wednesday in its third-quarter earnings release that it would add fewer net new streaming video customers this year than in 2018. Paid subscriber growth fell short of Netflix’s forecast for the second consecutive quarter. The company is still adding customers at a healthy clip, to be sure, but Netflix is predicated on adding streaming video customers essentially to infinity.The company said it misjudged how many people would cancel when it raised prices in the U.S. and some other countries, and it said alternative Netflix-like services would hurt, at least on the margins. The company also said it was having a harder time predicting the number of new subscribers in the next few months because of an abundance of untested movies or series that will hit its service soon.None of this is great news for a company that has declared itself immune to external forces like competition, the supply-and-demand swings of price increases and the typical wax-and-wane of hit-driven entertainment companies. Surprisingly, Netflix shares surged in after-market trading on this news. The company’s stock price had fallen about 20% after the disclosure in July that it lost U.S. customers in the second quarter, something that had not happened for years.Since that earnings flop, optimism about Netflix has been laced with a ribbon of fear. Many investors and entertainment industry watchers are eager to see whether new streaming video services that will start to debut late this year from Apple Inc., Walt Disney Co. and AT&T Inc.’s HBO will eat into Netflix’s customer growth. On Wednesday, Netflix both provided cherry-picked evidence that competing services don’t clip its wings and acknowledged that competition is hurting. It’s a typical head-scratcher from a management team that sounds overconfident at times. Netflix has always said that no single company will take all the spoils in streaming video, and it’s right. Paradoxically, a growing tangle of online entertainment options may make Netflix’s simplicity more appealing. Still, Netflix needs to keep expanding its subscriber numbers — particularly in the U.S., because that’s where its economics work the best. If Netflix’s fourth-quarter forecast pans out, the company’s U.S. paid customer numbers are growing at 1% or less each quarter from the prior period, down from a quarter-to-quarter growth rate of 2% to 4% in the last few years.(1) This is hardly doomsday. It’s also not good for a company at which minor slowdowns in growth can make a drastic difference in profit potential.I’m also looking at another test of Netflix’s viability that’s more important than the myopic focus on a “war” between Netflix and a tiny number of mostly U.S.-focused streaming options. That test is whether Netflix can stop lighting so much cash on fire.The company in the last 12 months has spent $13.6 billion in cash on programming and burned through $2.9 billion more cash than it took in from subscription fees and other revenue. This upside-down financial status has persisted for about five years.To me, this cash-burning status — not competition from other streaming companies, not fickle taste in consumer entertainment or the newfound reluctance of many entertainment companies to stock Netflix with programming — is the company’s biggest Achilles’ heel and evidence of the cost of Netflix’s ambitions. This condition is no secret, but even the typical financial worrywarts have been unperturbed that Netflix is perpetually spending other people’s money to cement itself as a default entertainment option for billions of people.Netflix reiterated on Wednesday that 2019 would be a peak year of spending more cash than it takes in. Conditions will improve a little next year and then some more after that, Netflix said. The company doesn’t say when it can stop borrowing money to fund itself, but some analysts have estimated the tide will turn in 2021 or 2022. If growth continues to slow, however, that tipping point of self-sustainability pushes further out. Netflix’s torrent of spending and borrowing to pay for more programming and continued growth get harder if the sign-up rate slows even a touch. Netflix has always been a matter of faith: Either you believe it will be a lasting, economically flush staple of global entertainment or you don’t.The slowing customer growth shows that more than a decade after Netflix started to lead a revolution in home entertainment, a simple question remains unanswered: Will even the winners in streaming video be alive at the end?(1) Yes, the quarterly growth rate from the prior year is also slowing.To contact the author of this story: Shira Ovide at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Netflix (NFLX) beat third-quarter earnings expectations, just before competitors launch a new batch of streaming services next month.
(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.”The Teamsters Union said Wednesday that it “stands in solidarity” with the CWA and its members “as they fight back against plans by a vulture capitalist hedge fund that would harm the company’s workers.” The Teamsters represent 1.4 million people.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.(Updates with Teamsters comment in fifth paragraph.)\--With assistance from Scott Deveau and Scott Moritz.To contact the reporter on this story: Olga Kharif in Portland at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards III, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
We used our Zacks Stock Screener to search for companies within the broader technology sector that also pay a dividend that investors might want to buy as Q3 earnings season heats up...
(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.The earnings report this afternoon “is a heavily debated setup, the trickiest one in a while,” said Lynx Equity analysts KC Rajkumar and Jahanara Nissar. The firm called it “a high-wire act” where “much could go wrong.”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.And although Netflix remains the largest short in the film and entertainment sector, “short sellers have been slowly trimming their exposure,” according to financial analytics firm S3 Partners. The streaming service’s short interest totals $6.2 billion with almost 22 million shares shorted and about 1.8 million shares covered since the beginning of August, the firm said.Gerber’s Licouris sees room for both a 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 researchJust the Numbers3Q streaming paid net change estimate (Bloomberg MODL)3Q domestic +798,3603Q international +6 million3Q revenue estimate $5.25 billion (Bloomberg data)3Q GAAP EPS estimate $1.05 (range $1 to $1.23)4Q streaming paid net change estimate (Bloomberg MODL)4Q domestic +1.28 million4Q international +8.04 million4Q revenue estimate $5.51 billion (range $5.40 billion to $5.70 billion)4Q GAAP EPS estimate 82c (range 44c to $1.12)Data31 buys, 10 holds, 4 sells; avg. PT $365.36Implied 1-day share move following earnings: 11.0%Shares rose after 6 of prior 12 earnings announcementsGAAP EPS beat estimates in 9 of past 12 quartersTimingEarnings release expected 4 p.m. (New York time) Oct. 16Conference call websiteFor deep estimates in this story see NFLX US Equity MODL(Adds analyst comment in sixth paragraph and short interest commentary in 14th.)To contact the reporter on this story: Kamaron Leach in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Nick Turner, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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...
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.
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...
Netflix's (NFLX) third-quarter 2019 results are likely to be driven by a robust content portfolio. However, intensifying competition remains a concern.
IBM's blockchain, cloud and ML capabilities, among others, are expected to have witnessed robust adoption in the third quarter. However, stiff competition and high debts may have been concerns.
Accomplishing the financial cushion to retire early is a fantasy for most, but bringing that fantasy to reality is not as difficult as it sounds. If you are willing to make some serious lifestyle adjustments, it can be achievable.