Netflix is falling on concerns of competition from Disney+

Netflix tumbled 4.5% on Friday after Disney unveiled its Disney+ streaming service and pricing for the first time. Disney+ and Netflix could certainly coexist in consumers’ library of streaming services. “Bottom-line, Disney+ features family content, while NFLX offers a much broader range of content with the majority of the most-searched content on the platform.” Disney+ could actually be a positive for Netflix, the analysts wrote, since the entrance of a new streaming player could further “acce


Netflix tumbled 4.5% on Friday after Disney unveiled its Disney+ streaming service and pricing for the first time. Disney+ and Netflix could certainly coexist in consumers’ library of streaming services. “Bottom-line, Disney+ features family content, while NFLX offers a much broader range of content with the majority of the most-searched content on the platform.” Disney+ could actually be a positive for Netflix, the analysts wrote, since the entrance of a new streaming player could further “acce
Netflix is falling on concerns of competition from Disney+ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: lauren feiner, philippe huguen, afp, getty images
Keywords: news, cnbc, companies, disney, content, falling, netflixs, services, analysts, streaming, service, concerns, consumers, mahaney, netflix, competition


Netflix is falling on concerns of competition from Disney+

Netflix tumbled 4.5% on Friday after Disney unveiled its Disney+ streaming service and pricing for the first time. The drop shed more than $7 billion from Netflix’s market value, though it is up 13.6% over the past 12 months.

While some analysts seem less concerned that competition from Disney+ will be a significant hit to Netflix’s business, investors may still be uneasy with the entrance of a cheaper service with a huge library of time-tested content. Disney+ subscriptions will give consumers access to exclusive content for $6.99 per month or $69.99 for a full year, compared with Netflix’s standard plan offering of $13 per month, recently raised from $11. Shares of Disney soared 9% Friday.

Disney+ and Netflix could certainly coexist in consumers’ library of streaming services. Disney CEO Bob Iger made clear that the new service is aimed at kids, saying that other offerings like sports and adult content are available on their other services like ESPN+ and Hulu.

“Bottom-line, Disney+ features family content, while NFLX offers a much broader range of content with the majority of the most-searched content on the platform.” analysts from SunTrust wrote in a note Friday. “As such, we do not view Disney+ as a strong alternative to NFLX.”

The analysts added that in a recent survey conducted by the firm, only 8% of existing Netflix subscribers who responded expect to switch to Disney+, while 59% expected to continue to subscribe only to Netflix. Twenty-four percent of respondents expected to subscribe to both services, according to the survey.

Disney+ could actually be a positive for Netflix, the analysts wrote, since the entrance of a new streaming player could further “accelerate cord-cutting.”

Still, other analysts see a significant threat in Disney’s offering. Mark Mahaney of RBC Capital Markets told CNBC on Friday that Disney has a “major advantage” over Netflix because it does not need to spend much to build up its already-full content library.

“There is going to be pressure here on Netflix to continue to differentiate their service with more and more original content spend, that’s the major advantage … that Disney has — they’ve got a back catalog,” he said. Still, Mahaney said he still believes consumers will be willing to sign up for both services if they’re both robust.

“We did our survey work here, we think the vast majority of consumers are perfectly willing to sign up for more than one service,” Mahaney said.

— CNBC’s Eustance Huang contributed to this report.

Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.

Subscribe to CNBC on YouTube.

Watch: Disney’s Bob Iger: I believe Disney+ is going to be successful


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: lauren feiner, philippe huguen, afp, getty images
Keywords: news, cnbc, companies, disney, content, falling, netflixs, services, analysts, streaming, service, concerns, consumers, mahaney, netflix, competition


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US companies bring home $665 billion in overseas cash last year, falling short of Trump pledge

Companies brought back $85.9 billion in the fourth quarter and $664.9 billion for the full year 2018, according to quarterly data released by the Commerce Department on Wednesday. Trump had pledged that companies would bring back $4 trillion, spurring U.S. job and investment growth. In 2017, companies brought back a total of $155.1 billion in offshore cash, the Commerce Department said. Apple said last year it would bring back nearly all of its $250 billion parked overseas. Some have estimated t


Companies brought back $85.9 billion in the fourth quarter and $664.9 billion for the full year 2018, according to quarterly data released by the Commerce Department on Wednesday. Trump had pledged that companies would bring back $4 trillion, spurring U.S. job and investment growth. In 2017, companies brought back a total of $155.1 billion in offshore cash, the Commerce Department said. Apple said last year it would bring back nearly all of its $250 billion parked overseas. Some have estimated t
US companies bring home $665 billion in overseas cash last year, falling short of Trump pledge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: liz moyer, gary hershorn, getty images
Keywords: news, cnbc, companies, cash, pledge, nearly, bring, short, falling, trump, companies, billion, offshore, tax, 665, overseas, trillion, brought


US companies bring home $665 billion in overseas cash last year, falling short of Trump pledge

American corporations dramatically increased the amount of offshore profit they brought back to the U.S. last year, but not nearly as much President Trump predicted as part of a trillion-dollar tax cut in late 2017.

Companies brought back $85.9 billion in the fourth quarter and $664.9 billion for the full year 2018, according to quarterly data released by the Commerce Department on Wednesday. Trump had pledged that companies would bring back $4 trillion, spurring U.S. job and investment growth.

In 2017, companies brought back a total of $155.1 billion in offshore cash, the Commerce Department said.

The tax cuts on corporate profits earned offshore — from 35 percent to a one-time rate of 15.5 percent on cash and 8 percent on other assets — encouraged companies to bring it home. Tech giants like Apple kept huge stashes of cash abroad, analysts said. Apple said last year it would bring back nearly all of its $250 billion parked overseas.

Much of the money brought home went to a stock buybacks, according to a Federal Reserve study last year. Buyback activity hit a record $1.1 trillion last year and could surpass that level this year.

Some have estimated that American companies held between $1 trillion and $2.5 trillion in cash offshore before the tax cuts.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: liz moyer, gary hershorn, getty images
Keywords: news, cnbc, companies, cash, pledge, nearly, bring, short, falling, trump, companies, billion, offshore, tax, 665, overseas, trillion, brought


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Chinese smartphone sales keep on falling — that’s likely bad news for Apple

China’s mobile phone market suffered its worst month in years as device shipments plunged, with the data potentially highlighting further signs of pain for Apple in the world’s largest smartphone market. Mobile phone shipments in China totaled 14.51 million in February, a nearly 20 percent year-on-year fall, according to data released Tuesday by the China Academy of Information and Communications Technology. Shipments of smartphones specifically totaled 13.8 million, a fall of over 20 percent ye


China’s mobile phone market suffered its worst month in years as device shipments plunged, with the data potentially highlighting further signs of pain for Apple in the world’s largest smartphone market. Mobile phone shipments in China totaled 14.51 million in February, a nearly 20 percent year-on-year fall, according to data released Tuesday by the China Academy of Information and Communications Technology. Shipments of smartphones specifically totaled 13.8 million, a fall of over 20 percent ye
Chinese smartphone sales keep on falling — that’s likely bad news for Apple Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: arjun kharpal, visual china group, getty images
Keywords: news, cnbc, companies, apple, according, china, bad, sales, smartphone, falling, totaled, data, thats, worst, yearonyear, released, month, chinese, likely, shipments


Chinese smartphone sales keep on falling — that's likely bad news for Apple

China’s mobile phone market suffered its worst month in years as device shipments plunged, with the data potentially highlighting further signs of pain for Apple in the world’s largest smartphone market.

Mobile phone shipments in China totaled 14.51 million in February, a nearly 20 percent year-on-year fall, according to data released Tuesday by the China Academy of Information and Communications Technology.

Shipments of smartphones specifically totaled 13.8 million, a fall of over 20 percent year-on-year, according to CAICT, a government-backed research institute.

February is typically weak for smartphone sales in China because of a the week-long Chinese New Year public holiday and the fact that new phones are released toward the back-end of the month. But February 2019 was the worst month for shipments going back to at least 2013, according to publicly available data from CAICT.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: arjun kharpal, visual china group, getty images
Keywords: news, cnbc, companies, apple, according, china, bad, sales, smartphone, falling, totaled, data, thats, worst, yearonyear, released, month, chinese, likely, shipments


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Square is falling on earnings, but two chart patterns point to more gains

The poor earnings report “certainly dents the prospects,” Blue Line Futures President Bill Baruch told CNBC’s “Trading Nation” on Wednesday evening. Looks like it’s going to cross over and give you the golden cross and provide further bullish momentum,” Baruch said Wednesday before the earnings release. Shares of Square were sitting at the top line of that ascending triangle pattern at $79 at market close Wednesday. “I like being long Square barring a disastrous earnings report later today,” add


The poor earnings report “certainly dents the prospects,” Blue Line Futures President Bill Baruch told CNBC’s “Trading Nation” on Wednesday evening. Looks like it’s going to cross over and give you the golden cross and provide further bullish momentum,” Baruch said Wednesday before the earnings release. Shares of Square were sitting at the top line of that ascending triangle pattern at $79 at market close Wednesday. “I like being long Square barring a disastrous earnings report later today,” add
Square is falling on earnings, but two chart patterns point to more gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: keris lahiff, source, getty images, nurphoto, daniel acker, bloomberg, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, triangle, cross, gains, chart, earnings, average, point, falling, line, baruch, trading, bullish, square, susquehanna, patterns


Square is falling on earnings, but two chart patterns point to more gains

Square tumbled in extended trading Wednesday after issuing disappointing guidance.

The payment services company beat on fourth-quarter earnings and sales, but its first-quarter revenue forecast fell short of expectations.

The poor earnings report “certainly dents the prospects,” Blue Line Futures President Bill Baruch told CNBC’s “Trading Nation” on Wednesday evening. However, there are a few technically bullish patterns forming, especially if the stock repairs the damage before the end of the week.

“There’s room to run here, and what I’m watching most closely is you have the 50-day moving average sneaking up on the 200. Looks like it’s going to cross over and give you the golden cross and provide further bullish momentum,” Baruch said Wednesday before the earnings release.

A golden cross is formed when a shorter-term moving average such as the 50-day moves above a longer-term trend line such as the 200 day. The technical move suggests accelerating bullish momentum.

“What stands out most is the ascending triangle, which it is trying to break out above,” said Baruch. “The close above there is also very bullish.”

Shares of Square were sitting at the top line of that ascending triangle pattern at $79 at market close Wednesday. A move above signals a breakout from a consolidation pattern.

“I like being long Square barring a disastrous earnings report later today,” added Baruch.

Stacey Gilbert, head of derivatives strategy at Susquehanna, and Susquehanna analyst James Friedman have a more cautious view on the stock. The firm has a hold rating and a $77 price target, more than 2 percent below Square’s current price.

“It is a hot space, and there is increased competition. If you look at a name like Clover from First Data, this is competition that’s coming into this space that does make us concerned for the longer term,” added Gilbert. “Yes, the concept is great, but we do have some caution around it.”

Square has an average overweight rating and $79.59 price target, according to FactSet estimates.

Disclosure: Susquehanna is a market maker in and Susquehanna and/or its affiliates beneficially own 1% or more of the securities of SQ.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: keris lahiff, source, getty images, nurphoto, daniel acker, bloomberg, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, triangle, cross, gains, chart, earnings, average, point, falling, line, baruch, trading, bullish, square, susquehanna, patterns


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Google’s cloud business lags far behind Microsoft and Amazon, and the stock is falling

Google has a new cloud computing boss and big ambitions to someday produce more revenue from that business than from advertising. Alphabet Inc’s cloud computing division remains a distant third behind Amazon and Microsoft in terms of global revenue, according to analysts’ estimates. A key part is developing or acquiring easy-to-use, industry-specific corporate applications, an area that Amazon and Microsoft do not dominate. Kurian also must reassure some investors bewildered by Google’s cloud am


Google has a new cloud computing boss and big ambitions to someday produce more revenue from that business than from advertising. Alphabet Inc’s cloud computing division remains a distant third behind Amazon and Microsoft in terms of global revenue, according to analysts’ estimates. A key part is developing or acquiring easy-to-use, industry-specific corporate applications, an area that Amazon and Microsoft do not dominate. Kurian also must reassure some investors bewildered by Google’s cloud am
Google’s cloud business lags far behind Microsoft and Amazon, and the stock is falling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: paresh dave, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, stock, googles, falling, kurian, revenue, cloud, amazon, far, google, company, business, companies, lags, data, microsoft


Google's cloud business lags far behind Microsoft and Amazon, and the stock is falling

Google has a new cloud computing boss and big ambitions to someday produce more revenue from that business than from advertising.

Now comes the hard part: winning over big-spending customers.

Alphabet Inc’s cloud computing division remains a distant third behind Amazon and Microsoft in terms of global revenue, according to analysts’ estimates. A few major companies manage their data on Google’s servers. But Google has nowhere near the vast customer base of Amazon, according to a new Reuters analysis of company regulatory filings.

Shares of Google parent company Alphabet were down about 1.7 percent Thursday morning after Reuters released the report.

Businesses generally are not required to disclose their cloud vendors. Reuters found 311 out of about 5,000 worldwide that did so in 2018. While not comprehensive, the data provide a window into Google’s challenge.

Thirty five of those companies named Google as a cloud provider. The largest by market capitalization were oil major Total SA and bank HSBC.

Amazon Web Services led with 227 clients, including travel company Expedia and industrials giant Siemens AG. Microsoft’s Azure cloud had 69 firms, among them weapons maker Axon Enterprise and business data firm Dun & Bradstreet.

Thirty four of the companies cited multiple clouds.

The previously untracked data show the work ahead for Thomas Kurian, who is weeks on the job as senior vice president of Google Cloud. Kurian has vowed to double down where Google has seen promising results. Specifically, he plans to target governments and top companies in retail, manufacturing, healthcare, media and finance.

“A lot of our focus as we go forward is making sure that our sales organization has the background and the ability to sell to large, more traditional companies,” Kurian said at a Goldman Sachs investor conference last week. “There’s enormous appetite in those companies to consider Google.”

Google declined to comment or make Kurian available for an interview.

People familiar with his plans said he is looking to reshape his division’s culture. A key part is developing or acquiring easy-to-use, industry-specific corporate applications, an area that Amazon and Microsoft do not dominate.

“Its about the on-ramp onto their cloud,” said Daniel Ives, a New York-based financial analyst following the cloud industry for Wedbush Securities. “The main way to get that is through applications.”

A 22-year veteran of Oracle, Kurian gave the database company fresh life as the product leader behind its move to selling cloud services. His hire is already making potential customers reconsider Google, said Ray Wang, founder of Constellation Research, a Monta Vista, Calif.-based firm that helps businesses negotiate cloud deals.

“They’ve worked with him,” Wang said. “There’s a trust factor that wasn’t there before.”

Kurian also must reassure some investors bewildered by Google’s cloud ambitions: Diversifying revenue beyond advertising is a plus, but it is not coming cheap.

Google, Microsoft and Amazon combined spent nearly $53 billion on capital expenses last year, driven by data center projects to house their clouds.

With gross margins of 20 percent or less, selling cloud storage or tools for which customers need specialized staff is less lucrative for a small vendor, industry experts said. But margins on the type of software Kurian likely wants to offer can top even the 60 percent of Google’s ad business.

“The next wave of growth is going to have to come from the heavy hitting applications,” said Kerry Liu, chief executive at Rubikloud, which helps retailers with cloud projects.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: paresh dave, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, stock, googles, falling, kurian, revenue, cloud, amazon, far, google, company, business, companies, lags, data, microsoft


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Google’s cloud business lags far behind Microsoft and Amazon, and the stock is falling

Google has a new cloud computing boss and big ambitions to someday produce more revenue from that business than from advertising. Alphabet Inc’s cloud computing division remains a distant third behind Amazon and Microsoft in terms of global revenue, according to analysts’ estimates. A key part is developing or acquiring easy-to-use, industry-specific corporate applications, an area that Amazon and Microsoft do not dominate. Kurian also must reassure some investors bewildered by Google’s cloud am


Google has a new cloud computing boss and big ambitions to someday produce more revenue from that business than from advertising. Alphabet Inc’s cloud computing division remains a distant third behind Amazon and Microsoft in terms of global revenue, according to analysts’ estimates. A key part is developing or acquiring easy-to-use, industry-specific corporate applications, an area that Amazon and Microsoft do not dominate. Kurian also must reassure some investors bewildered by Google’s cloud am
Google’s cloud business lags far behind Microsoft and Amazon, and the stock is falling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: paresh dave, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, stock, googles, falling, kurian, revenue, cloud, amazon, far, google, company, business, companies, lags, data, microsoft


Google's cloud business lags far behind Microsoft and Amazon, and the stock is falling

Google has a new cloud computing boss and big ambitions to someday produce more revenue from that business than from advertising.

Now comes the hard part: winning over big-spending customers.

Alphabet Inc’s cloud computing division remains a distant third behind Amazon and Microsoft in terms of global revenue, according to analysts’ estimates. A few major companies manage their data on Google’s servers. But Google has nowhere near the vast customer base of Amazon, according to a new Reuters analysis of company regulatory filings.

Shares of Google parent company Alphabet were down about 1.7 percent Thursday morning after Reuters released the report.

Businesses generally are not required to disclose their cloud vendors. Reuters found 311 out of about 5,000 worldwide that did so in 2018. While not comprehensive, the data provide a window into Google’s challenge.

Thirty five of those companies named Google as a cloud provider. The largest by market capitalization were oil major Total SA and bank HSBC.

Amazon Web Services led with 227 clients, including travel company Expedia and industrials giant Siemens AG. Microsoft’s Azure cloud had 69 firms, among them weapons maker Axon Enterprise and business data firm Dun & Bradstreet.

Thirty four of the companies cited multiple clouds.

The previously untracked data show the work ahead for Thomas Kurian, who is weeks on the job as senior vice president of Google Cloud. Kurian has vowed to double down where Google has seen promising results. Specifically, he plans to target governments and top companies in retail, manufacturing, healthcare, media and finance.

“A lot of our focus as we go forward is making sure that our sales organization has the background and the ability to sell to large, more traditional companies,” Kurian said at a Goldman Sachs investor conference last week. “There’s enormous appetite in those companies to consider Google.”

Google declined to comment or make Kurian available for an interview.

People familiar with his plans said he is looking to reshape his division’s culture. A key part is developing or acquiring easy-to-use, industry-specific corporate applications, an area that Amazon and Microsoft do not dominate.

“Its about the on-ramp onto their cloud,” said Daniel Ives, a New York-based financial analyst following the cloud industry for Wedbush Securities. “The main way to get that is through applications.”

A 22-year veteran of Oracle, Kurian gave the database company fresh life as the product leader behind its move to selling cloud services. His hire is already making potential customers reconsider Google, said Ray Wang, founder of Constellation Research, a Monta Vista, Calif.-based firm that helps businesses negotiate cloud deals.

“They’ve worked with him,” Wang said. “There’s a trust factor that wasn’t there before.”

Kurian also must reassure some investors bewildered by Google’s cloud ambitions: Diversifying revenue beyond advertising is a plus, but it is not coming cheap.

Google, Microsoft and Amazon combined spent nearly $53 billion on capital expenses last year, driven by data center projects to house their clouds.

With gross margins of 20 percent or less, selling cloud storage or tools for which customers need specialized staff is less lucrative for a small vendor, industry experts said. But margins on the type of software Kurian likely wants to offer can top even the 60 percent of Google’s ad business.

“The next wave of growth is going to have to come from the heavy hitting applications,” said Kerry Liu, chief executive at Rubikloud, which helps retailers with cloud projects.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: paresh dave, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, stock, googles, falling, kurian, revenue, cloud, amazon, far, google, company, business, companies, lags, data, microsoft


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Italian and French relations are falling apart fast. Here’s why

France has now recalled its ambassador to Italy following months of escalating tension, but why has it got so heated between the two — normally cordial — European neighbors? The latest verbal skirmish between the European countries came after Italian Deputy Prime Minister Luigi Di Maio crossed the border to meet with the French anti-government protesters known as the “gilet jaunes” (yellow vests) just outside Paris. Di Maio took to Twitter to say the “winds of change had crossed the Alps” before


France has now recalled its ambassador to Italy following months of escalating tension, but why has it got so heated between the two — normally cordial — European neighbors? The latest verbal skirmish between the European countries came after Italian Deputy Prime Minister Luigi Di Maio crossed the border to meet with the French anti-government protesters known as the “gilet jaunes” (yellow vests) just outside Paris. Di Maio took to Twitter to say the “winds of change had crossed the Alps” before
Italian and French relations are falling apart fast. Here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: david reid, brian snyder, andrea ronchini, nurphoto, getty images, simona granati – corbis, corbis news
Keywords: news, cnbc, companies, winds, relations, falling, crossed, apart, heres, french, protesters, european, workingclass, italy, maio, italian, yellow, fast


Italian and French relations are falling apart fast. Here's why

France has now recalled its ambassador to Italy following months of escalating tension, but why has it got so heated between the two — normally cordial — European neighbors?

The latest verbal skirmish between the European countries came after Italian Deputy Prime Minister Luigi Di Maio crossed the border to meet with the French anti-government protesters known as the “gilet jaunes” (yellow vests) just outside Paris.

Di Maio took to Twitter to say the “winds of change had crossed the Alps” before inviting the protesters to a follow-up meeting in Rome.

The 32-year-old is the leader of the Italian populist Five Star Movement (M5S) and sees the French protests, with its rural and working-class roots, as a natural ally to his own party’s cause in Italy.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: david reid, brian snyder, andrea ronchini, nurphoto, getty images, simona granati – corbis, corbis news
Keywords: news, cnbc, companies, winds, relations, falling, crossed, apart, heres, french, protesters, european, workingclass, italy, maio, italian, yellow, fast


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Watches falling out of favor, Capri CEO says, sending shares of Fossil, Movado lower

The parent company of Michael Kors, Versace and Jimmy Choo is seeing weakness in sales of fashion watches. “[The] fashion watch category continues to see declines globally, and we are being impacted by this secular trend,” Idol said on the fiscal third-quarter conference call. In its holiday sales release, Macy’s CEO Jeff Gennette noted weak watch sales, among several other categories. The earlier hints of watch weakness could be a warning sign ahead of other retailers’ earnings reports still to


The parent company of Michael Kors, Versace and Jimmy Choo is seeing weakness in sales of fashion watches. “[The] fashion watch category continues to see declines globally, and we are being impacted by this secular trend,” Idol said on the fiscal third-quarter conference call. In its holiday sales release, Macy’s CEO Jeff Gennette noted weak watch sales, among several other categories. The earlier hints of watch weakness could be a warning sign ahead of other retailers’ earnings reports still to
Watches falling out of favor, Capri CEO says, sending shares of Fossil, Movado lower Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: courtney reagan, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, capri, sending, favor, weakness, ceo, sales, movado, apple, lower, fossil, fashion, watches, shares, category, nearly, falling, watch, quarter


Watches falling out of favor, Capri CEO says, sending shares of Fossil, Movado lower

While Capri Holdings just put up a quarter that beat profit expectations, CEO John Idol pointed out a key weakness in one category that pulled down shares of several competitors.

The parent company of Michael Kors, Versace and Jimmy Choo is seeing weakness in sales of fashion watches.

“[The] fashion watch category continues to see declines globally, and we are being impacted by this secular trend,” Idol said on the fiscal third-quarter conference call. “We now expect declines in watches to continue in the fourth quarter and into next year at a greater rate than we had anticipated.”

Shares of watchmakers Fossil and Movado fell on the comments. Fossil shares, which are down nearly 88 percent over the past year, plunged nearly 10 percent, while Movado shares dropped 3 percent. Movado shares are off nearly 4 percent over the past year.

Capri is not the first retailer to call out the weakness in recent weeks. In its holiday sales release, Macy’s CEO Jeff Gennette noted weak watch sales, among several other categories.

The earlier hints of watch weakness could be a warning sign ahead of other retailers’ earnings reports still to come.

The soft sales may reflect consumer adoption of smartwatches, or a shift to consumers wearing watches less often now that mobile phones are ever-present time-telling devices.

Over the same time period that Capri and Macy’s saw weakness in fashion watches, Apple saw strength for its smartwatch. While the tech company does not provide a breakout for sales of its watch alone, on its fiscal first-quarter earnings conference call, Apple CEO Tim Cook said the tech company “had our best quarter ever for wearables, home, and accessories” noting “almost 50 percent growth from wearables, thanks to strong sales of both Apple Watch and AirPods.”

According to Strategy Analytics, the Apple Watch held the top spot for smartwatches with 45 percent of the global market in the third quarter of 2018. FitBit jumped to second with a 15 percent share of the market, overtaking Samsung at 11 percent and Garmin at 8 percent. I

The Michael Kors smartwatch continued to outperform the broader category, Idol said. He added that in fashion watches, “slim silhouettes, particularly those in luxury leather band offerings” were better selling, but in general “the overall watch category was more challenged than we anticipated in the quarter.”


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: courtney reagan, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, capri, sending, favor, weakness, ceo, sales, movado, apple, lower, fossil, fashion, watches, shares, category, nearly, falling, watch, quarter


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Nvidia is falling again as analysts bail on once-loved stock: ‘This becomes a show me story’

Shares of Nvidia fell 3 percent Tuesday, adding to their steep losses from the previous session, as several analysts bailed on the chipmaker following a dire sales warning. Analysts at Morgan Stanley and Needam downgraded the stock. Another analyst at Bank of America Merrill Lynch removed it from its list of best ideas. Nvidia dropped 13.8 percent Monday, its worst single-day performance since Nov. 16, after the company slashed its fiscal fourth-quarter revenue guidance to $2.2 billion from $2.7


Shares of Nvidia fell 3 percent Tuesday, adding to their steep losses from the previous session, as several analysts bailed on the chipmaker following a dire sales warning. Analysts at Morgan Stanley and Needam downgraded the stock. Another analyst at Bank of America Merrill Lynch removed it from its list of best ideas. Nvidia dropped 13.8 percent Monday, its worst single-day performance since Nov. 16, after the company slashed its fiscal fourth-quarter revenue guidance to $2.2 billion from $2.7
Nvidia is falling again as analysts bail on once-loved stock: ‘This becomes a show me story’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: fred imbert, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, warninganalysts, nvidia, analysts, billion, morgan, analyst, falling, onceloved, gaming, quarter, stanley, worst, stock, bail


Nvidia is falling again as analysts bail on once-loved stock: 'This becomes a show me story'

Shares of Nvidia fell 3 percent Tuesday, adding to their steep losses from the previous session, as several analysts bailed on the chipmaker following a dire sales warning.

Analysts at Morgan Stanley and Needam downgraded the stock. Another analyst at Bank of America Merrill Lynch removed it from its list of best ideas.

Nvidia dropped 13.8 percent Monday, its worst single-day performance since Nov. 16, after the company slashed its fiscal fourth-quarter revenue guidance to $2.2 billion from $2.7 billion. In a statement, Nvidia said that “deteriorating macroeconomic conditions, particularly in China, impacted consumer demand for NVIDIA gaming GPUs,” a key business segment for the company.

“Missing the quarter this badly in gaming indicates more significant challenges than we had anticipated, given that this is still a channel fill quarter for midrange/high end,” said Morgan Stanley analyst Joseph Moore, in a note Tuesday. “This becomes a show me story with lower P/E assumptions.”


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: fred imbert, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, warninganalysts, nvidia, analysts, billion, morgan, analyst, falling, onceloved, gaming, quarter, stanley, worst, stock, bail


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer Remix: Don’t jump the gun—Nvidia’s stock isn’t done falling

For one, the announcement revealed some “obvious negatives,” Cramer said Tuesday on “Mad Money.” “That’s why the stock initially got slammed yesterday, … reversing all of its gains for the year,” he said. Because when companies pre-announce to the downside like Nvidia did yesterday, their stocks almost always take out their 52-week lows.” In Nvidia’s case, that 52-week low is $124.46, down about $7 from its Tuesday closing price of $131.60. And, in Cramer’s experience, when a company issues an


For one, the announcement revealed some “obvious negatives,” Cramer said Tuesday on “Mad Money.” “That’s why the stock initially got slammed yesterday, … reversing all of its gains for the year,” he said. Because when companies pre-announce to the downside like Nvidia did yesterday, their stocks almost always take out their 52-week lows.” In Nvidia’s case, that 52-week low is $124.46, down about $7 from its Tuesday closing price of $131.60. And, in Cramer’s experience, when a company issues an
Cramer Remix: Don’t jump the gun—Nvidia’s stock isn’t done falling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: elizabeth gurdus, wang ying, xinhua news agency, getty images, adam jeffery, michaela rehle, christopher dilts, bloomberg
Keywords: news, cnbc, companies, dont, falling, cramer, 52week, jump, stock, isnt, gunnvidias, nvidias, markets, nvidia, yesterday, stocks, remix, think, worth


Cramer Remix: Don't jump the gun—Nvidia's stock isn't done falling

Even though CNBC’s Jim Cramer has long been a fan of Nvidia, a top chipmaker that dragged stocks lower Monday with a major revenue forecast cut, he understood why its stock has lost so much value.

For one, the announcement revealed some “obvious negatives,” Cramer said Tuesday on “Mad Money.” Chinese authorities have unexpectedly cracked down on video games, one of Nvidia’s key end markets; construction in another one of its key markets, the data center, has slowed; and the company still hasn’t completely gotten a handle on inventory overhangs with its cryptocurrency mining products.

The semiconductor maker is also in the midst of a transition that could add even more pressure: the shift from its current generation of graphics chips to its new Turing line of chips, which seem almost too advanced for the companies that need them now, Cramer said.

“That’s why the stock initially got slammed yesterday, … reversing all of its gains for the year,” he said. “That move actually made sense to me. […] Why? Because when companies pre-announce to the downside like Nvidia did yesterday, their stocks almost always take out their 52-week lows.”

In Nvidia’s case, that 52-week low is $124.46, down about $7 from its Tuesday closing price of $131.60. And, in Cramer’s experience, when a company issues an exceedingly negative pre-announcement, “you can’t pick at its stock until it takes out its 52-week lows.”

“Once Nvidia comes down to those levels, then there’s a case to be made that it might be worth nibbling at,” he said, adding that the stock’s late-Monday rally was a sign that buyers were way too eager. “Believe me, that weakness is worth waiting for, and [with] the bounce I expect from Apple and also the not-so-bad news from AMD? I think it’s going to happen. I don’t think it’ll be long-lived.”


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: elizabeth gurdus, wang ying, xinhua news agency, getty images, adam jeffery, michaela rehle, christopher dilts, bloomberg
Keywords: news, cnbc, companies, dont, falling, cramer, 52week, jump, stock, isnt, gunnvidias, nvidias, markets, nvidia, yesterday, stocks, remix, think, worth


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post