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Fly News Breaks for July 18, 2019
AMZN, DIS, NFLX
Jul 18, 2019 | 07:22 EDT
BMO Capital analyst Daniel Salmon lowered his price target on Netflix (NFLX) to $440 after its reported shortfall on subscriber addition in Q2, which he expects to "fuel the debate" about the company's pricing power and the role of new content. Given the sequential decline in its U.S. markets and the approaching launch of Disney+ (DIS), the analyst contends that this may be a "more than just the usual" earnings-miss driven debate. Longer term however, Salmon believes that the company's revenue trend remains on track, keeping his Outperform rating on the stock and recommending Netflix, Amazon (AMZN), and Disney as a "collective investment" in the global streaming race.
News For NFLX;DIS;AMZN From the Last 2 Days
DIS, AMZN
Mar 27, 2024 | 16:24 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
AMZN
Mar 27, 2024 | 15:57 EDT
Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. GOVERNMENT SCRUTINY: The Biden... To see the rest of the story go to thefly.com. See Story Here
AMZN
Mar 27, 2024 | 15:10 EDT
"Amazon expects to save roughly $1.3 billion in coming years by radically reducing office vacancies, according to a person familiar with the matter," reports Business Insider ...Reference Link
AMZN
Mar 27, 2024 | 12:54 EDT
Amazon stated: "The work Amazon and Anthropic are doing together to bring the most advanced generative artificial intelligence, or generative AI, technologies to customers worldwide is only beginning. As part of a strategic collaborative agreement, we and Anthropic announced that Anthropic is using Amazon Web Services - AWS - as its primary cloud provider for mission critical workloads, including safety research and future foundation model development. Anthropic will use AWS Trainium and Inferentia chips to build, train, and deploy its future models and has made a long-term commitment to provide AWS customers around the world with access to future generations of its foundation models on Amazon Bedrock, AWS's fully managed service that provides secure, easy access to the industry's widest choice of high-performing, fully managed foundation models, along with the most compelling set of features - including best-in-class retrieval augmented generation, guardrails, model evaluation, and AI-powered agents - that help customers build highly-capable, cost-effective, low latency generative AI applications... Deepening our commitment to advancing generative AI, today we have an update on the announcement we made to invest up to $4 billion in Anthropic for a minority ownership position in the company. Last September, we made an initial investment of $1.25 billion. Today, we made our additional $2.75 billion investment, bringing our total investment in Anthropic to $4 billion." Reference Link
DIS, AMZN
Mar 27, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here
DIS
Mar 27, 2024 | 11:36 EDT
NetEase (NTES) unveiled a new team-based shooter "Marvel Rivals," a multiplayer game based on Marvel Comics' (DIS) superhero characters. The game is being developed for PC, with an alpha test for the game set to launch in May 2024. Reference Link
DIS
Mar 27, 2024 | 08:09 EDT
The Trian Group, which beneficially owns over $3.5 billion of common stock in The Walt Disney Company, announced that Egan-Jones is the second independent proxy advisory firm, along with Institutional Shareholder Services, to recommend that shareholders vote for change in the composition of the Disney board. Specifically, Egan-Jones recommends that Disney shareholders vote "FOR" both of Trian's nominees, Nelson Peltz and Jay Rasulo, and "WITHHOLD" on Maria Elena Lagomasino and Michael B.G. Froman in connection with Disney's annual meeting on April 3, 2024. Last week, ISS recommended that shareholders vote "FOR" Mr. Peltz and "WITHHOLD" on Ms. Lagomasino. Egan-Jones concluded: "We see very little downside and a lot of upsides in putting the Trian Nominees on the Board." Among the reasons Egan-Jones cited for the need for change at Disney were: "The apparent lack of a ... long-term succession plan." "A Board that appears cutoff and unwilling to engage with investors and the broader market." "A business model, we believe to be built for the last decade, but not forward looking and flexible enough to ensure success in the next." "A desire to protect the status quo for as long as possible and at all costs." "Mediocre financial performance and the resultant lower valuation." Similarly, ISS concluded that "incremental change is needed at the company due to multi-year underperformance the company's peers and chosen benchmark, operational challenges, and most critically, a repeated failure on the part of the board to oversee the cultivation of a successor..." In supporting the election of Mr. Peltz and the withholding of support for Ms. Lagomasino, ISS wrote that: Nelson Peltz is "well positioned to provide the catalyst that this board apparently needs to improve its effectiveness."
NFLX
Mar 27, 2024 | 08:06 EDT
Wedbush analyst Michael Pachter raised the firm's price target on Netflix to $725 from $615 and keeps an Outperform rating on the shares. The firm also removed Netflix from Wedbush's Best Ideas List after a year of significant growth. The firm's quarterly survey indicates a seasonal deceleration in subscribers and an expansion of subscribers on Netflix's ad tier. As long as global trends remain consistent and the ad market continues to improve this year, Wedbush expects Netflix to continue to report strong results. With that said, some of the major catalysts that drove its Best Ideas List placement have been priced in. The firm thinks the ad tier will continue to limit churn, and it has a significant opportunity to expand its advertising revenue in 2024 and beyond. Furthermore, Wedbush believes Netflix has reached the right formula with global content creation, balancing costs, and increasing profitability.
AMZN
Mar 26, 2024 | 17:40 EDT
Audible and Amazon MGM Studios unveiled plans to co-develop and co-produce a slate of Audible Originals as series in development. "We are thrilled to collaborate with our colleagues at Amazon MGM Studios, who share our commitment to accelerating the craft of storytelling, on this new and incredibly exciting endeavor," said Rachel Ghiazza, Chief Content Officer at Audible. "All of the titles in this formidable slate of adaptations feature compelling and inspired narratives, well thought-out, complex characters, and will be brought to life by some of the most dynamic creatives in the industry." She added: "We believe that this is a pivotal and transformative moment for Audible and look forward to this next chapter with great anticipation." "In this digital age, irresistible storytelling is emerging through a variety of mediums, and we are lucky to have engaging Originals debuting through our colleagues at Audible," says Vernon Sanders, head of television, Amazon MGM Studios. "These original podcasts have already engaged and entertained audiences and we look forward to developing a visual component to expand the storytelling." Reference Link
DIS
Mar 26, 2024 | 12:26 EDT
"Game On" is The Fly's weekly recap of the stories powering up or beating down video game stocks. NEW RELEASES: While... To see the rest of the story go to thefly.com. See Story Here
AMZN
Mar 26, 2024 | 12:08 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
NFLX
Mar 26, 2024 | 05:40 EDT
BofA added Spotify (SPOT) to its US 1 List while removing Netflix (NFLX). The list is a collection of the firm's best ideas.