Netflix’s latest results and executive comments show it’s just another media company — not a pay-TV killer

As Netflix’s stock soared over the past couple years, investors and consumers wondered how to think of the company’s long-term role in the media ecosystem. This quarter’s results should make it easier to define Netflix, but the answer may not be as ambitious as some had hoped. It’s easy to get wrapped up in Netflix’s grand successes and project aspirations on the company that may be too grandiose. That’s the kind of language you’d hear from someone that works at HBO. It is not the kind of langua


As Netflix’s stock soared over the past couple years, investors and consumers wondered how to think of the company’s long-term role in the media ecosystem. This quarter’s results should make it easier to define Netflix, but the answer may not be as ambitious as some had hoped. It’s easy to get wrapped up in Netflix’s grand successes and project aspirations on the company that may be too grandiose. That’s the kind of language you’d hear from someone that works at HBO. It is not the kind of langua
Netflix’s latest results and executive comments show it’s just another media company — not a pay-TV killer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: alex sherman
Keywords: news, cnbc, companies, language, executive, latest, media, company, youd, hbo, hear, think, sleep, companys, results, killer, netflixs, netflix, kind, paytv, comments


Netflix's latest results and executive comments show it's just another media company — not a pay-TV killer

As Netflix’s stock soared over the past couple years, investors and consumers wondered how to think of the company’s long-term role in the media ecosystem.

This quarter’s results should make it easier to define Netflix, but the answer may not be as ambitious as some had hoped.

It’s easy to get wrapped up in Netflix’s grand successes and project aspirations on the company that may be too grandiose. After all, Netflix vanquished Blockbuster, its first foe. It zoomed by HBO in global subscribers, its second target. It’s only natural to think about who Netflix may be coming after next — and the company’s own language around competitive landscape fueled those fires. Netflix has listed both sleep and Fortnite as recent competitors.

But listening to Netflix executives speak yesterday after reporting net customer additions that drastically fell short of analyst estimates and the company’s own guidance, there was no talk of sleep and Fortnite.

Instead, the company’s leadership spoke pragmatically about making better shows and movies to draw an audience.

“We’re just going to continue to focus on our strategy of developing more and more original programming,” said Netflix Chief Financial Officer Spencer Neumann. “There will be some quarter-by-quarter choppiness along the way based on things like seasonality and content slate.”

That’s the kind of language you’d hear from someone that works at HBO. It is not the kind of language you’d hear from someone at a cable operator, which historically has offered sweeping society-wide justifications like “college ended” to explain why pay-TV signups fell. Netflix hasn’t attained that level of assumed ubiquity.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: alex sherman
Keywords: news, cnbc, companies, language, executive, latest, media, company, youd, hbo, hear, think, sleep, companys, results, killer, netflixs, netflix, kind, paytv, comments


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Makyajart Toptan Kozmetik


Makyajart Toptan Kozmetik Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, kozmetik, makyajart, toptan



Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, kozmetik, makyajart, toptan


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Dressbarn to close 53 stores in August, saying the wind down of the business is ‘on target’

Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target, as it released the locations of 53 stores slated to shut by the end of August. The announcement came amid chatter the business would be forced to file for bankruptcy to break leases. Further, we are current, and expect to remain so, with our vendors and suppliers,” Steven Taylor, Dressbarn CFO, said in a statement. Dressbarn at the end of June announced the first round of locations, a total of 28 stores


Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target, as it released the locations of 53 stores slated to shut by the end of August. The announcement came amid chatter the business would be forced to file for bankruptcy to break leases. Further, we are current, and expect to remain so, with our vendors and suppliers,” Steven Taylor, Dressbarn CFO, said in a statement. Dressbarn at the end of June announced the first round of locations, a total of 28 stores
Dressbarn to close 53 stores in August, saying the wind down of the business is ‘on target’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren thomas
Keywords: news, cnbc, companies, end, wind, taylor, dressbarn, business, saying, retail, close, ultimately, 53, stores, target, started, store


Dressbarn to close 53 stores in August, saying the wind down of the business is 'on target'

Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target, as it released the locations of 53 stores slated to shut by the end of August.

The announcement came amid chatter the business would be forced to file for bankruptcy to break leases.

Ascena announced in May that it planned to wind down Dressbarn and ultimately shut all 650 or so of the women’s clothing shops in order to focus on its more profitable brands, like Ann Taylor and Loft.

There has since been some speculation that Dressbarn as a standalone unit would ultimately file for bankruptcy if its landlords didn’t agree to relieve the brand of its lease obligations, as it started shutting hundreds of stores within malls and shopping centers across the country. Retail property owners have already been hit by a massive wave of store closures this year, so any further announcements only add to a backlog of empty space.

But the company on Thursday said everything is going as planned and that all stores are expected to be dark by the end of the year.

“We have received overwhelming landlord support for our plan, which will allow us to implement our wind down in a manner that provides the best recovery for our landlords. Further, we are current, and expect to remain so, with our vendors and suppliers,” Steven Taylor, Dressbarn CFO, said in a statement.

The company said in a press release that it has started working with Gordon Brothers Retail Partners to assist with the store closures, and with Hilco Streambank to look for buyers for Dressbarn’s intellectual property. It also said it’s still receiving “fresh inventory,” but encouraged customers to “shop early for the best selection, and use any outstanding gift cards.”

Malfitano Partners is managing the overall wind down, according to a person familiar.

Dressbarn, which has been around for more than five decades, has struggled to grow in apparel retailing as more women steer toward fast-fashion retailers such as H&M and Zara, off-price chains such as T.J. Maxx and Ross Stores, and even Target. Amazon also continues to take a larger share of the apparel market online.

Dressbarn at the end of June announced the first round of locations, a total of 28 stores, set to close this summer, kicking off the winding-down process.

Ascena shares are down more than 75% this year and trade below $1.

Here’s a complete list of the Dressbarn stores set to close in August, according to the company’s website:


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren thomas
Keywords: news, cnbc, companies, end, wind, taylor, dressbarn, business, saying, retail, close, ultimately, 53, stores, target, started, store


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Microsoft has a clear path 15% higher from here, technician says

The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead. Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It would need to fall nearly 4% to return to Stockton’s $131 support level. Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft. Analysts anticipate 7% increase in earnings and 9% sales growth for


The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead. Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It would need to fall nearly 4% to return to Stockton’s $131 support level. Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft. Analysts anticipate 7% increase in earnings and 9% sales growth for
Microsoft has a clear path 15% higher from here, technician says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: keris lahiff
Keywords: news, cnbc, companies, higher, stock, tengler, path, support, technician, clear, 131, uptrend, reporting, growth, microsoft, 15, sales, upside


Microsoft has a clear path 15% higher from here, technician says

Microsoft, the world’s largest publicly traded company, could get even bigger.

The tech giant is reporting earnings after the bell Thursday, and one technician sees a breakout ahead.

“Microsoft is really a momentum story and has been for more than several months now. It’s a long-term uptrend, it’s an intermediate term uptrend,” said Katie Stockton, founder of Fairlead Strategies, on CNBC’s “Trading Nation” on Wednesday.

Microsoft has surged 34% this year, outpacing the XLK technology ETF’s 30% gain and the S&P 500’s 19% advance. It has nearly doubled in value over the past two years.

“The stock, of course, having been where it has been, has a lot of support. Initially, it’s right around $131. It doesn’t mean it has to get back to that level, but it certainly would be very safe, in terms of preserving its uptrend on a pullback of that magnitude,” said Stockton.

The stock broke above $131 in early June and has held above $135 this month. It would need to fall nearly 4% to return to Stockton’s $131 support level.

“The last breakout that we had from Microsoft on the chart yielded a very aggressive, and maybe too aggressive, long-term target of about $156 for Microsoft — so, that shows you potential upside when you don’t have any resistance left on a chart,” she added.

Microsoft would need to rally another 15% to reach $156. It would mark a fresh record for the stock.

Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft.

“We see the company hitting on all cylinders,” said Tengler. “Azure is growing at, you know, 70%-plus year over year. We expect them to beat this quarter. If you look at the surveys from customers, at the margin, business is moving to Microsoft away from Amazon. So, we think that is the primary source of the good news.”

Azure, Microsoft’s cloud computing platform, regularly reports double-digit revenue growth. In its most recent reporting stretch, ending March, Azure sales grew by 73%, the strongest growth of all its product and service segments.

“We still like this stock. It’s one of our largest holdings, and we’ve been trimming it as it continues to appreciate, but it still represents almost 5% of our holdings,” said Tengler.

Analysts anticipate 7% increase in earnings and 9% sales growth for its fourth quarter, ended June, according to FactSet estimates.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: keris lahiff
Keywords: news, cnbc, companies, higher, stock, tengler, path, support, technician, clear, 131, uptrend, reporting, growth, microsoft, 15, sales, upside


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US stock futures were little changed as earnings and trade fears weigh

U.S. stock index futures were nearly flat Thursday morning as earnings season gathers momentum. ET, Dow futures indicated an implied positive open of less than 5 points, while the S&P 500 and Nasdaq also pointed to lower opens. As earnings season kicks into full gear, Railroad giant CSX posted weaker-than-forecast quarterly results on Wednesday, sending its stock plummeting, while Bank of America reported better-than-expected earnings but warned that lower rates would hit its net interest income


U.S. stock index futures were nearly flat Thursday morning as earnings season gathers momentum. ET, Dow futures indicated an implied positive open of less than 5 points, while the S&P 500 and Nasdaq also pointed to lower opens. As earnings season kicks into full gear, Railroad giant CSX posted weaker-than-forecast quarterly results on Wednesday, sending its stock plummeting, while Bank of America reported better-than-expected earnings but warned that lower rates would hit its net interest income
US stock futures were little changed as earnings and trade fears weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
Keywords: news, cnbc, companies, fears, earnings, sp, lower, season, trade, reported, giant, stock, futures, changed, little, weigh, bank


US stock futures were little changed as earnings and trade fears weigh

U.S. stock index futures were nearly flat Thursday morning as earnings season gathers momentum.

Around 7 a.m. ET, Dow futures indicated an implied positive open of less than 5 points, while the S&P 500 and Nasdaq also pointed to lower opens.

Stocks closed at the day’s lows Wednesday after The Wall Street Journal reported that trade negotiations between the U.S. and China had faltered over restrictions on Chinese telecommunications giant Huawei, citing sources familiar with the talks.

This came after President Donald Trump on Tuesday made skeptical comments about the possibility of an imminent resolution to the ongoing trade war between the world’s two largest economies.

As earnings season kicks into full gear, Railroad giant CSX posted weaker-than-forecast quarterly results on Wednesday, sending its stock plummeting, while Bank of America reported better-than-expected earnings but warned that lower rates would hit its net interest income growth.

Both United Airlines and Cintas also beat expectations, indicating that the bleak outlook offered at the beginning of earnings season might have been overly pessimistic. However, only around 7% of S&P 500 companies have reported second-quarter earnings thus far, according to FactSet data.

Another flurry of earnings is due Thursday, with Morgan Stanley, UnitedHealth, Union Pacific, SunTrust, and M&T Bank reporting before the bell, while Microsoft is set to report after the bell.

—CNBC’s Fred Imbert contributed to this report.

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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
Keywords: news, cnbc, companies, fears, earnings, sp, lower, season, trade, reported, giant, stock, futures, changed, little, weigh, bank


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House passes bill to hike the federal minimum wage to $15 per hour

The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low-wage workers a raise. Congress last raised the federal minimum wage to $7.25 per hour about a decade ago. Now, 29 states and Washington D.C. have higher pay floors than the U.S., while seven states have approved $15 per hour minimum wages. An amendment adopted Thursday, proposed by Rep. Tom O’Halleran, requires a Government Accountability Office report


The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low-wage workers a raise. Congress last raised the federal minimum wage to $7.25 per hour about a decade ago. Now, 29 states and Washington D.C. have higher pay floors than the U.S., while seven states have approved $15 per hour minimum wages. An amendment adopted Thursday, proposed by Rep. Tom O’Halleran, requires a Government Accountability Office report
House passes bill to hike the federal minimum wage to $15 per hour Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jacob pramuk
Keywords: news, cnbc, companies, wage, federal, minimum, hike, raise, passes, pay, legislation, house, hour, 15, workers, bill, wages


House passes bill to hike the federal minimum wage to $15 per hour

Speaker of the House Rep. Nancy Pelosi (D-CA) holds up seven-year-old Kassidy Durham of Durham, North Carolina, during a news conference prior to a vote on the Raise the Wage Act July 18, 2019 at the U.S. Capitol in Washington, DC.

The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low-wage workers a raise.

The Democratic-held chamber passed the plan in a 231-199 vote. Six Democrats opposed it, while three Republicans supported it.

The measure would gradually hike the U.S. pay floor to $15 by 2025, then index further hikes to median wage growth. It would also phase out lower minimum wage paid to tipped workers.

House Democrats view the legislation as a core piece of their agenda to boost pay and economic growth. As President Donald Trump runs for reelection in 2020, the party argues strong economic growth and a roaring stock market have not done enough to lift the workers who most need relief.

“I commend my colleagues for taking this important step towards creating an economy that works for everyone,” said Rep. Bobby Scott, a Virginia Democrat who introduced the legislation, in a statement. “Now, Senate Republicans must decide to either stand with American workers or turn their backs on hardworking people across the country.”

Congress last raised the federal minimum wage to $7.25 per hour about a decade ago. Now, 29 states and Washington D.C. have higher pay floors than the U.S., while seven states have approved $15 per hour minimum wages. Those increases have boosted pay for the working class despite the federal inaction.

The bill has little chance of becoming law before next November’s election. Senate Majority Leader Mitch McConnell has no plans to bring the legislation up in his chamber. On Thursday, he told Fox Business Network that it would “depress the economy at a time of economic boom,” adding, “we’re not going to be doing that in the Senate.”

The White House also warned this week that Trump would veto the measure if it came to his desk. The Trump administration argued its policies are “driving economic growth and increasing workers’ take-home pay far more effectively and efficiently” than the Democratic plan. The White House contended it would “eliminate jobs and reduce total wages for American workers.”

In an analysis earlier this month, the nonpartisan Congressional Budget Office estimated the bill would give 17 million U.S. workers a raise — and could lift wages for millions more. It would also boost the annual income of 1.3 million people above the poverty level.

At the same time, the measure would cause about 1.3 million Americans to lose jobs, according to the CBO. It would also “reduce business income and raise prices” as companies pass on higher labor costs, the CBO said.

Here are the main pieces of the Raise the Wage Act:

It would increase the federal pay floor to $15 per hour by 2025, then index future increase to median wage gains.

The minimum wage hikes would take effect on the following schedule: $8.40 in 2019, $9.50 in 2020, $10.60 in 2021, $11.70 in 2022, $12.80 in 2023, $13.90 in 2024 and $15 in 2025.

It would eventually drop the lower minimum wage for tipped workers.

The bill would eliminate a seldom used pay floor for teen workers that pays them less than the minimum wage.

It would also toss out subminimum wages for workers with disabilities.

An amendment adopted Thursday, proposed by Rep. Tom O’Halleran, requires a Government Accountability Office report on the effects of minimum wage increases. House and Senate committees could use the report to recommend changes to curb any negative effects of the bill.

Activists such as Fight for $15, a movement started by striking fast food workers, helped to spur $15 per hour minimum wage laws around the country. In a tweet, the group said: “Organizing workers. Strikes work. We’re not even close to done!”

RaiseTheWageNow

Some major business groups opposed the legislation. Sean Kennedy, executive vice president of public affairs at the National Restaurant Association, which represents more than 500,000 restaurant businesses, called it “the wrong wage at the wrong time, implemented in the wrong way.”

National Federation of Independent Business President and CEO Juanita Duggan also called the plan a “devastating blow to small business.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jacob pramuk
Keywords: news, cnbc, companies, wage, federal, minimum, hike, raise, passes, pay, legislation, house, hour, 15, workers, bill, wages


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Gold retreats from 2-week peak as investors lock in profits

Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session’s gain to book profits. Spot gold was down 0.4% at $1,420.60 per ounce, as of 0736 GMT, after hitting its highest since July 3 at $1,428.40. U.S. gold futures edged 0.1% lower to $1,421.60 an ounce. Among other precious metals, silver was up 0.1% at $15.99 per ounce, after hitting its highest since Feb. 20 at $16.12. Platinum rose 0.6% to $848.11 an ounce and palladium ga


Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session’s gain to book profits. Spot gold was down 0.4% at $1,420.60 per ounce, as of 0736 GMT, after hitting its highest since July 3 at $1,428.40. U.S. gold futures edged 0.1% lower to $1,421.60 an ounce. Among other precious metals, silver was up 0.1% at $15.99 per ounce, after hitting its highest since Feb. 20 at $16.12. Platinum rose 0.6% to $848.11 an ounce and palladium ga
Gold retreats from 2-week peak as investors lock in profits Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, 01, profits, investors, ounce, lock, 2week, session, dollar, gold, trade, retreats, market, peak, rose, lower


Gold retreats from 2-week peak as investors lock in profits

Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session’s gain to book profits.

Spot gold was down 0.4% at $1,420.60 per ounce, as of 0736 GMT, after hitting its highest since July 3 at $1,428.40. It rose nearly 1.5% in the previous session as the dollar slipped after weaker-than-expected U.S. housing data increased prospects for an interest rate cut by the Federal Reserve.

U.S. gold futures edged 0.1% lower to $1,421.60 an ounce.

“A slightly weaker dollar and a clear preference from investors over the last 24 hours drove safe-haven assets higher,” said Michael McCarthy, chief market strategist, CMC Markets.

“From gold’s point of view, it approached a key resistance level around $1,430, and having failed to push through it, it looks like short-term trading investors are taking advantage of gains.”

The dollar index was down 0.2% against a basket of major currencies on Thursday. It climbed to a one-week peak in the previous session on robust U.S. retail sales, but nudged lower as Treasury yields fell in the wake of weak U.S. housing market data and concerns about the unresolved U.S.-China trade conflict.

Meanwhile, the Fed is widely expected to lower interest rates by 25 basis points at its policy meeting at the end of the month, with some in the market even betting on a 50 basis point cut.

The Fed reported on Wednesday that the U.S. economy continued growing at a “modest” rate in recent weeks, with consumers continuing to spend and a “generally positive” outlook overall even in the face of disruptions caused by the U.S. trade policy.

Earlier in the week, U.S. President Donald Trump kept up the pressure on Beijing with a threat to put tariffs on another $325 billion of Chinese goods.

“Bullion is likely to see strong support after the Fed’s Beige Book emphasised policymakers’ concern on negative impact of trade uncertainty,” Edward Moya, a senior market analyst at OANDA, said in a note.

Indicative of sentiment, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.48% to 803.18 tonnes on Wednesday from 799.37 tonnes on Tuesday.

Among other precious metals, silver was up 0.1% at $15.99 per ounce, after hitting its highest since Feb. 20 at $16.12. The metal was on track for a fifth consecutive session of gains.

Platinum rose 0.6% to $848.11 an ounce and palladium gained 0.1% to $1,538.95.


Company: cnbc, Activity: cnbc, Date: 2019-07-18
Keywords: news, cnbc, companies, 01, profits, investors, ounce, lock, 2week, session, dollar, gold, trade, retreats, market, peak, rose, lower


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Here’s why Netflix says it lost US paid subscribers for the first time in eight years

Netflix blames its content slate, regional price increases and a “pull-forward effect” of its strong Q1 growth for its first quarterly loss of paid domestic subscribers since 2011. The company on Wednesday reported a loss of 126,000 domestic paid subscribers compared with analysts’ expectations for a 352,000 gain. Netflix also missed its own forecast for global subscriber growth by 2.3 million. The last time Netflix lost domestic subscribers was in 2011 after the company raised prices and tried


Netflix blames its content slate, regional price increases and a “pull-forward effect” of its strong Q1 growth for its first quarterly loss of paid domestic subscribers since 2011. The company on Wednesday reported a loss of 126,000 domestic paid subscribers compared with analysts’ expectations for a 352,000 gain. Netflix also missed its own forecast for global subscriber growth by 2.3 million. The last time Netflix lost domestic subscribers was in 2011 after the company raised prices and tried
Here’s why Netflix says it lost US paid subscribers for the first time in eight years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren feiner
Keywords: news, cnbc, companies, subscribers, q2, paid, missed, loss, lost, growth, domestic, heres, netflix, company, subscriber


Here's why Netflix says it lost US paid subscribers for the first time in eight years

Netflix blames its content slate, regional price increases and a “pull-forward effect” of its strong Q1 growth for its first quarterly loss of paid domestic subscribers since 2011.

The company on Wednesday reported a loss of 126,000 domestic paid subscribers compared with analysts’ expectations for a 352,000 gain. Netflix also missed its own forecast for global subscriber growth by 2.3 million.

Its shares plunged more than 11% Thursday.

The last time Netflix lost domestic subscribers was in 2011 after the company raised prices and tried to separate its streaming product from its DVD mailing service, sparking customer pushback.

Netflix said Wednesday its missed forecast was most pronounced in regions that saw price increases. The company said it does not believe competitive forces were to blame since “competitive intensity and our penetration varied across regions (while our over-forecast was in every region).”

Netflix said it will have a more robust content slate in the third quarter to attract more subscribers, forecasting 7 million paid net adds and revenue of $5.25 billion. The company said its TV show “Stranger Things” has already had strong viewership for its latest season, and it anticipates new seasons of “The Crown” and “Orange is the New Black” will be similarly popular.

Bernstein analyst Todd Juenger called the subscriber loss “the Q2 curse.”

“There must be something about Q2 that makes it especially hard for Netflix to predict subs. Since 2016, they have missed their Q2 sub guidance three of four times,” Juenger said in a note to investors Thursday.

While Netflix’s subscriber loss in the U.S. is rare, its miss on international subscribers may be more troubling to investors since this represents its biggest growth opportunity. Netflix reported international net additions of 2.8 million subscribers compared with analyst estimates of 4.8 million.

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WATCH: Netflix’s DVD business is still alive and profitable — here’s what it looks like


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren feiner
Keywords: news, cnbc, companies, subscribers, q2, paid, missed, loss, lost, growth, domestic, heres, netflix, company, subscriber


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Trump’s business allies and over 400 bundlers give his 2020 war chest a boost

US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort. The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver. “Friends are talkin


US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort. The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver. “Friends are talkin
Trump’s business allies and over 400 bundlers give his 2020 war chest a boost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: brian schwartz
Keywords: news, cnbc, companies, bundlers, program, campaign, president, told, outreach, 2020, 400, trump, allies, trumps, chest, war, donors, miller, executives, boost, raise, business


Trump's business allies and over 400 bundlers give his 2020 war chest a boost

US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019.

President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort.

So far, the campaign has recruited at least 400 experienced fundraisers to work with the Trump leadership, according to people with direct knowledge of the matter.

The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver.

“What you need is people who have networks through their synagogues, churches, mosques, businesses and even sports teams,” Oliver told CNBC. “The bundling program is a way for people to drum up support through people who know there have been results with this president.”

Among the executives and lobbyists reaching out to fellow business leaders are:

Real estate magnate Stanley Chera

Atlas Merchant Capital managing director Patrick Durkin

Travis Brown, founder of political consulting firm Pelopidas

Jeff Miller, an energy lobbyist

The donor outreach campaign has been a resounding success. The strengthening of the president’s formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the second quarter.

Miller, the founder of lobbying firm Miller Strategies, bundled over $110,000 in the second quarter for Trump, a Federal Election Commission filing says. While Miller has been identified in a recent FEC filing as an official bundler for the campaign, it’s unclear whether Chera is making calls to financiers as anything more than a favor to a president to whom they’ve been loyal since he entered the White House. Durkin and Brown, according to people familiar with the outreach, have started actively bundling for the campaign.

A senior Trump campaign spokeswoman told CNBC that the success of the bundling program has spread across the country and it’s leading to donors who stayed away from Trump in 2016 to jump on board this time around.

“Friends are talking to friends and working together to help President Trump win reelection in 2020,” the spokeswoman said. “People who have never given a cent to any campaign before or stayed out of the mix last time are coming off the sidelines in droves to support President Trump.”

The White House declined to comment. Chera, Miller and Brown did not return a request for comment.

Democrats, meanwhile, are fighting among themselves to capture donors who will finance a formidable campaign versus Trump in the general election. With these business leaders and influential lobbyists using their networks to rake in donors for the campaign, it could give Trump an insurmountable fundraising advantage over his eventual opponent.

Donors who have agreed to back Trump cite his business-friendly policies such as tax cuts and reduced regulations, while arguing the Democratic Party is going too far to the left. A person familiar with the Trump donor outreach, who spoke on the condition of anonymity, said many of the people making calls to GOP executives are working to raise over $300,000 each.

In another good sign for the president’s fundraising hopes, several financiers who backed Trump’s opponents in 2016 flipped to his side in the previous quarter.

“Fundraisers were divided in 2016. That’s not the case this time.” Republican donor Dan Eberhart told CNBC. “Everybody is behind the president toward the common goal of another four years. Those grumblers about the president don’t like his style but they darn sure like his policies.”


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: brian schwartz
Keywords: news, cnbc, companies, bundlers, program, campaign, president, told, outreach, 2020, 400, trump, allies, trumps, chest, war, donors, miller, executives, boost, raise, business


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Dow falls 150 points, heads for 3-day losing streak

Stocks fell for a third straight day on Thursday as Wall Street digested a mixed batch of corporate earnings results. The Dow Jones Industrial Average dropped 150 points, or 0.5%, while the S&P 500 slid 0.4%. Those metrics — which are key for Netflix — offset a better-than-expected earnings per share result for the previous quarter. IBM shares, meanwhile, briefly fell at the open before recovering after the company reported its fourth consecutive revenue decline. Declining sales from IBM’s IT di


Stocks fell for a third straight day on Thursday as Wall Street digested a mixed batch of corporate earnings results. The Dow Jones Industrial Average dropped 150 points, or 0.5%, while the S&P 500 slid 0.4%. Those metrics — which are key for Netflix — offset a better-than-expected earnings per share result for the previous quarter. IBM shares, meanwhile, briefly fell at the open before recovering after the company reported its fourth consecutive revenue decline. Declining sales from IBM’s IT di
Dow falls 150 points, heads for 3-day losing streak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: fred imbert
Keywords: news, cnbc, companies, offset, 05, wall, streak, reported, dow, 150, betterthanexpected, shares, wealth, growth, falls, fell, heads, points, 3day, losing, earnings


Dow falls 150 points, heads for 3-day losing streak

Stocks fell for a third straight day on Thursday as Wall Street digested a mixed batch of corporate earnings results.

The Dow Jones Industrial Average dropped 150 points, or 0.5%, while the S&P 500 slid 0.4%. The Nasdaq Composite lagged, falling 0.6%.

Netflix shares plunged more than 11% after the streaming giant reported a surprise loss in U.S. subscribers coupled with slower-than-expected international membership growth. Those metrics — which are key for Netflix — offset a better-than-expected earnings per share result for the previous quarter.

IBM shares, meanwhile, briefly fell at the open before recovering after the company reported its fourth consecutive revenue decline. Declining sales from IBM’s IT division offset growth in its cloud business.

Morgan Stanley posted better-than-expected quarterly results, driven by its wealth management and fund divisions. The stock rose 0.5%.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: fred imbert
Keywords: news, cnbc, companies, offset, 05, wall, streak, reported, dow, 150, betterthanexpected, shares, wealth, growth, falls, fell, heads, points, 3day, losing, earnings


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