The Walt Disney Co. revealed plans for reconfiguration of its Disneyland theme park in Anaheim, California. Opened in 1955, Disneyland was the company’s first theme park. According to the latest plans, the park’s current footprint would not be expanded, but more theme park attractions and new hotels, retail stores, restaurants and entertainment venues would be added within the property. The...
After the bell Monday, ViacomCBS announced that it will sell $3 billion in stock in two secondary offerings, for bolstering its streaming services among other purposes. The media behemoth plans to sell $2 billion of its Class B common stock and $1 billion of its Series A Mandatory Convertible Preferred stock. It has given the underwriters separate 30-day options to buy up to $300 million of...
AMC Entertainment, the largest U.S. theater chain, reported a fourth-quarter net loss of -$6.21 a share, compared with a loss of -13 cents a share in the year-earlier quarter. The adjusted loss was -$3.15 a share, compared to analysts’ expectation of -$3.24. Revenue fell to $162.5 million, compared to $1.45 billion a year earlier. Analysts polled by Factset had forecast $142.3 million. As of...
Streaming platform Roku got a rating upgrade from KeyBanc analyst Justin Patterson. Patterson raised his rating to overweight from sector weight with a $518 price target. According to Patterson and team, Roku is becoming a key enabler of the direct-to-consumer (D2C) video ecosystem, as is apparent in its large active accounts base (~51M as of 4Q20). “We believe the company's AdTech...
Video streaming company Roku posted an unexpected profit in the fourth quarter. The company’s fourth quarter earnings came in at 49 cents per share adjusted, while analysts were expecting an adjusted net loss of -5 cents per share. Revenue rose +58% from the year-ago quarter to $649.9 million, also topping analysts’ forecast of $617.7 million. The platform’s average revenue per user climbed...
Disney posted its fiscal first quarter results that beat analysts’ expectations. The entertainment behemoth’s adjusted earnings for the quarter came in at 32 cents per share, while analysts polled by Factset had expected an adjusted loss of -34 cents per share. The year-ago quarter’s earnings were $1.53 per share. Revenue of $16.25 billion also topped expectations of $15.90 billion. But the...
These smart products gather raw data for companies to store, analyze, and use, and then the raw data takes on exponentially greater value as more and more companies find increasingly efficient and intelligent ways to mine and interpret it.Blockchain may change this outcome.
A big advantage
The world’s largest companies (like Facebook, Netflix, Google, and Apple in the US and Alibaba, Baidu, and Tencent in China) have a significant advantage in the race to accumulate data because of their size – they have the vast reach, and by extension the capital, to collect, store, and analyze the massive amounts of information they gather.
Within the family of computerized learning, you might think of “deep learning” as the gifted child of machine learning.AI is designed to perform tasks as programmed, i.e., it is fed a sophisticated algorithm and programming and is let loose on things like massive data sets.
That's a pretty high number considering that AI is a relatively new technology, with just a few years on the scene.
Now, take a wild guess how much that number is expected to grow over the next five years… Could the number grow to 20,000 businesses worldwide adopting AI by 2022?Nearly a million businesses with AI technology likely to deliver significant efficiencies in cloud processing, storage capacity, machine learning algorithms to solve more problems faster, automation and innovation.
The way the landscape is changing, it is almost certain that businesses that choose to ignore AI applications will find themselves at a competitive disadvantage.
But perhaps a better question to ask today is:
will there even be movie theaters to go back to?
Perhaps the answer is yes and no.For small, independent movie theaters across the country, it may have been difficult or impossible to obtain the bridge financing needed to keep the business afloat.
In its new founding round, the company is hoping to raise $125 million in fresh capital by selling 50 million shares, to avoid bankruptcy.
AMC needs at least $750 million of additional liquidity to finance cash requirements through 2021, as suggested by the company.It has been exploring several options, including restructuring of debt.
“And in the event of such future liquidation or bankruptcy proceeding, holders of our common stock and other securities would likely suffer a total loss of their investment,” it said in the filing.
The packaged software industry has performed extremely well in recent weeks and that has caused a number of the stocks to hit overbought territory on their daily charts.A number of the stocks have gained 15% or more in the past month while the S&P 500 is only up 3.7%.
One software company that has lagged the others and lagged the market is HUYA Inc. (HUYA).
Kurnos expects a “significant upside surprise in 4Q.”
On Wednesday, Roku and WarnerMedia announced a deal to include HBO Max to the Roku platform.Roku users can subscribe directly on their Roku device to access all of HBO Max content (and HBO Max app), at a cost of $15 a month.
Referring to the deal as “largely the expected outcome”, Kurnos suggested that it demonstrates Roku’s negotiating power in the streaming-video industry.
Disney shares got a rating downgrade from analysts at BMO Capital to market perform from outperform.
However, BMO hiked their price target from $165 to $185.
BMO’s price target is $120 per share, up from $100 per share, Disney's DTC business, including Disney+, ESPN+ and Hulu. The firm continues to price Disney's core business at $65.
BMO expects Disney+ to have between 230 million and 260 million subscribers by 2024, an improved outlook from its previous projection of between 60 million and 90 million subs.
The firm expects average revenue of $7.05 per user on Disney's 275.8 million projected subscribers by the end of 2025.
Entertainment giant Walt Disney plans to cut 32,000 jobs by the end of March, According to a Securities and Exchange Commission filing on Wednesday.
The layoff figure is 4,000 more than the 28,000 job cuts announced in September. Most of the job cuts will take place in the company's theme parks.
Around 37,000 Disney employees were on furlough as of Oct. 3, according to the filing.
"Due to the current climate, including Covid-19 impacts, and changing environment in which we are operating, the company has generated efficiencies in its staffing, including limiting hiring to critical business roles, furloughs and reductions-in-force," Disney mentioned in the filing.
Netflix (NFLX) is one of the companies that seems to be benefitting.
The company is set to report third quarter earnings results on October 20 and it is expected to show earnings growth of 44.9% over the third quarter of last year.The company’s return on equity is well above average at 29.1% while the profit margin is slightly below average at 10.2%.
Looking at the Tickeron Scorecard for Netflix we see that the stock is rated as a “strong buy”.
On Tuesday, RBC revealed its expectation that Netflix subscribers could reach 500 million by 2030 from the current 193 million .
RBC analyst Mark Mahaney raised his price target on the streaming giant’s shares by 15% to $610 a share.The odds of a continued Downtrend are 65%.
The Aroon Indicator entered a Downtrend today.
Revenue grow +42% year over year.
Average revenue per user climbed +18% year-over-year to $24.92.The odds of a continued Uptrend are 90%.
The Aroon Indicator entered an Uptrend today.
Disney reported revenue that fell short of analysts estimates' for its fiscal third quarter. However, it raked in positive earnings, beating expectations.
For the three months ending in June, the entertainment company’s revenue fell -42% year-over-year to $11.78 billion, below analysts’ expectation of $12.4 billion .(Analysts’ estimates are those based on FactSet poll).
As of the quarter end, Disney had 57.5 million Disney+ subscribers, 8.5 million ESPN+ subscribers and 35.5 million total Hulu subscribers.
The company’s total Direct-to-Consumer and International revenues grew +2% to $3.97 billion. Parks, Experiences and Products segment revenue dropped -85% to $983 million.
Disney has new things lined up for its direct-to-consumer business.
The entertainment behemoth announced a new streaming offering, which will be distributed under its Star brand, and to be launched in calendar 2021.
The new service is a "general entertainment offering” and rooted in content Disney owns: ABC Studios, Fox TV, FX, Free Form, 20th Century studios, and Searchlight, according to CEO Bob Chapek.In 29 of 65 cases where DIS's Stochastic Indicator exited the oversold zone, the price rose further within the following month.