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☆ ‘Eric’ review: Benedict Cumberbatch pulls the right strings in Netflix series about a puppeteer and his missing son
▼ + stars: | 2024-05-29 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

CNN —Weird, dark but compulsively watchable, “Eric” stars Benedict Cumberbatch and a hulking foul-mouthed puppet, not necessarily in that order. When Edgar abruptly goes missing, both parents blame Vincent, who becomes convinced his child’s drawings of an ogre-like puppet named Eric are somehow the key to finding him. As Vincent turns to self-medication to ease his anxiety and guilt, Eric appears to him, and him alone, ostensibly to help him locate the boy. Ivan Howe plays the missing child in Netflix's "Eric." Eric might need somebody to pull his strings, but give credit to “Eric” – especially considering the challenging nature of the concept – for so effectively tying those threads together.

Persons: “ Eric ”, Benedict Cumberbatch, Edgar, Ivan Howe, Vincent, Cumberbatch, ”, Cassie, Gaby Hoffmann, isn’t, Eric, Lennie, Dan Fogler, Abi Morgan, McKinley Belcher III, –, hasn’t, Henry Sugar, Morgan, Eric ”, “ Eric ” – Organizations: CNN, Netflix, “ Locations: New York, Netflix's, Welsh, York

☆ Here are Tuesday's biggest analyst calls: Amazon, Nvidia, Reddit, Tesla, Apple, Seagate, Micron, Spotify, Gap & more
▼ + stars: | 2024-03-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Mizuho initiates DraftKings as buy Mizuho said in its initiation of DraftKings that it sees "upside to revenue growth." Mizuho initiates MGM as buy Mizuho said MGM shares are "fundamentally misvalued." Mizuho initiates Carnival as buy Mizuho said Carnival is a top pick at the firm. Mizuho reiterates Micron as buy Mizuho raised its price target on the stock to $130 per share from $124. "We are upgrading PAGS to Outperform from In Line with a $18 target price."

Persons: Mizuho, Bernstein, Chipotle, CFRA, Morgan Stanley, Goldman Sachs, Goldman, Levi's, it's, Wells, Richard Dickson, Katrina O'Connell, Tesla, underperform Bernstein, it's bullish, Baird, Semtech, Jefferies, underperform Jefferies, Invivyd, Evercore, TD Cowen Organizations: Mizuho, Sands, MGM, Nvidia, Blackwell, Seagate, Nasdaq, UBS, JPMorgan, Taiwan Semiconductor, Navy, Micron, MU, Citi, Plains Energy, Bank of America, Spotify, Netflix, Apple Locations: Macau, Singapore, Westar, Kansas, Missouri, Argentina, Uruguay, Paraguay, China

☆ Netflix earnings: Will the streaming service continue to make profit into 2024?
▼ + stars: | 2024-01-23 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

Netflix, which is in a quiet period ahead of earnings, declined CNN’s request for comment. In November, Netflix aired its first-ever live sports event, and its third-ever foray into live programming, called “The Netflix Cup,” a crossover competition between Formula 1 drivers and professional golfers. “We are investing heavily in increasing our live capabilities,” Netflix’s co-CEO Ted Sarandos said on the company’s earnings call in October. Next, Netflix plans to experiment with a new type of live programming: award shows. But even before the announcement, the number of shows and original programming Netflix churned out had already hit its peak, according to data analyzed by MoffettNathanson.

Persons: ’ ”, Jessica Reif Ehrlich, Reed Hastings, Amy Reinhard, Netflix’s, Reif Ehrlich, Philip Pacheco, ” Netflix’s, Ted Sarandos, Greg Peters, ” Peters, Matthew Harrigan, ”, Scott Stuber, Max, Peacock, MoffettNathanson, Harrigan, ” Harrigan Organizations: Los Angeles CNN, Netflix, Warner Bros, Bank of America, Guild of America, Netflix Inc, Bloomberg, Getty, Formula, Theft, Amazon, Hulu, Disney, Paramount Locations: Hollywood, FactSet

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Walt Disney Studios in Burbank, California, U.S., August 22, 2023. Striking writers and actors slashed spending, burned through savings and piled up debt to survive. Sets for movies and TV shows are lighting up again as studios rush to resume filming. Still, Hollywood is unlikely to return to the frenzied production pace of the streaming wars, when studios competed for subscribers and cachet. Hollywood actors won similar gains in a tentative agreement reached with the studios on Nov. 8.

Persons: Mario Anzuoni, caterers, Wall, Celia Finkelstein, ” Finkelstein, “, Serena Kashmir, ”, Fran Drescher, Kevin Klowden, ” Klowden, Long, Marc Meyer Jr, I’ve, Meyer, Guy Bisson, Neil Begley, Ampere, Dawn Chmielewski, Danielle Broadway, Lisa Richwine, Mary Milliken, David Gregorio Our Organizations: Writers Guild of America, Walt Disney Studios, REUTERS, Companies Comcast Corp, Fox, Netflix, Hollywood, Reuters, WGA, SAG, Milken Institute, Sony Pictures, Disney, Global, Ampere, Moody’s, Companies, “, Thomson Locations: Burbank , California, U.S, California, Georgia, New Mexico, Hollywood, ” Kashmir, Kashmir, Colorado, North Hollywood, Los Angeles

☆ Here are Wednesday's biggest analyst calls: Nvidia, Netflix, Apple, Disney, Affirm, Dollar Tree, DraftKings & more
▼ + stars: | 2023-11-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's iPhone Pro have subsided. Wells Fargo initiates Matador Energy as overweight Wells said the energy company has a "strong track record of growth." Citi upgrades Vipshop to buy from neutral Citi upgraded the e-commerce company after its earnings report. Bank of America upgrades American Eagle to neutral from underperform Bank of America upgraded the stock ahead of earnings next week. Morgan Stanley reiterates DraftKings as overweight Morgan Stanley said it sees more upside for the stock after its investor day. "

Persons: Holley, Jefferies, Wells, Morgan Stanley downgrades Energizer, Morgan Stanley, Bracken Darrell, Matt Puckett, Investor Relations Allegra Perry, Redburn, RTX, Mizuho, AFRM, Cantor Fitzgerald downgrades, Myers, Cantor, We've, it's, DraftKings Organizations: Jefferies, UBS, Apple, Matador Energy, Citi, Bank of America, underperform Bank of America, Barclays, American, Bears, Netflix, Netflix Inc, Air Corp, Vertiv Holdings Co, Wells Fargo, Warner Music Group, JPMorgan, Corp, Investor Relations, Brands Conference, Raytheon, Canadian, TAM, Deutsche Bank, Disney, Deutsche, Nvidia, Partners Locations: China, Europe, Japan, AXP, Paris, CSIQ, Bristol, F4Q

☆ Netflix's ad tier reaches 15 million users a year after launch
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsNov 1 (Reuters) - Netflix (NFLX.O) said on Wednesday its ad-supported tier had reached 15 million active users per month, a year after the streaming giant launched the cheaper plan to revive subscriber growth and revenue following a slowdown. Netflix increased subscription prices for some streaming plans in the United States, Britain and France last month, after its third-quarter subscriber additions of 9 million shattered Wall Street expectations of 6 million. A month after Netflix's ad-plan launch last year, rival Disney+ also rolled out its ad version in an attempt to push its streaming business into profitability. Amazon's (AMZN.O) Prime Video will next year join its streaming rivals in rolling out ads and introducing a higher-priced ad-free tier. In countries where the ad plan was available, 30% of the signups were from the ad-tier.

Persons: Dado, HBO Max, Peacock, Samrhitha, Devika Organizations: Netflix, REUTERS, Disney, HBO, Paramount, Thomson Locations: United States, Britain, France, Bengaluru

☆ Apple raises subscription prices for TV+, News+
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo Acquire Licensing RightsOct 25 (Reuters) - Apple (AAPL.O) on Wednesday increased the subscription prices of Apple TV+ and Apple News+, according to its website, the latest company to raise rates following similar moves by media giants. The per month price of Apple TV+ has been increased by $3 to $9.99, while Apple News+ has been priced at $12.99, up from $9.99. Recently, streaming giants Netflix (NFLX.O) and Disney (DIS.N) too had raised their prices as they look to boost growth amid intense competition. Netflix increased subscription prices for some streaming plans in the United States, Britain and France when it reported results last week.

Persons: Mike Segar, Anirudh Saligrama, Shweta Agarwal Organizations: Apple, REUTERS, Netflix, Disney, Hulu, Thomson Locations: Manhattan, New York City, United States, Britain, France, Bengaluru

☆ As actors strike hits 100 days, hope mixes with financial angst
▼ + stars: | 2023-10-20 | by ( Rollo Ross | ) www.reuters.com time to read: +2 min

[1/4] SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. On the picket line outside Netflix on Friday, striking actors were grateful for a proposal by A-list Hollywood actors like George Clooney to pitch in $150 million to the SAG-AFTRA union over three years to help end the strike. The strike has disrupted film and television production, leaving thousands of crew members without work as well as the actors. But talks between the studios and the actors union broke down last week as the sides clashed over streaming revenue and the use of artificial intelligence. “The feeling is that we’re going to keep strong, we’re going to keep going," said Kevin Grossman, adding "I certainly don’t feel like we should stop.

Persons: Mario Anzuoni, George Clooney, Richard Speight, they’re, ” Vincenza, I’ve, Kevin Grossman, Rollo Ross, Mary Milliken, David Gregorio Our Organizations: Paramount Studios, REUTERS, Netflix, Hollywood, SAG, Thomson Locations: Los Angeles , California, U.S, Los Angeles

☆ Wall St drops as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The rate-sensitive real estate sector (.SPLRCR) dropped 2.4% and was the day's worst-performing S&P 500 sector. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The labor market is showing strength even though the central bank has raised its benchmark overnight interest rate by 525 basis points since March 2022. The S&P 500 posted 2 new 52-week highs and 37 new lows; the Nasdaq Composite recorded 15 new highs and 370 new lows.

Persons: Tesla, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Brendan McDermid, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Netflix, Dow, Nasdaq, Treasury, Wealthspire Advisors, Economic, Dow Jones, New York Stock Exchange, REUTERS, Data, U.S . Labor Department, Netflix Inc, American Airlines, United Airlines, NYSE, Thomson Locations: Westport , Connecticut, New York, U.S, New York City, United States, Britain, France, Bengaluru

☆ Wall St ends lower on Powell remarks as benchmark Treasury yields near 5%
▼ + stars: | 2023-10-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Exacerbating worries over higher-for-longer interest rates, benchmark Treasury yields brushed against the 5% level. The pan-European STOXX 600 index (.STOXX) lost 1.19% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.95%. Emerging market stocks lost 1.22%. U.S. Treasury yields surged, with the 10-year brushing against the 5% threshold as the Fed's Powell warned that additional monetary policy tightening could be in the cards. The greenback weakened against a basket of world currencies as benchmark Treasury yields crept higher and gold surged.

Persons: Brendan McDermid, Jerome Powell, Sam Stovall, Stovall, spooked, Rishi Sunak, Joe Biden's, Powell, Brent, Gold, Stephen Culp, Amanda Cooper, Bernadette Baum, Leslie Adler, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Treasury, U.S, Federal, Research, Tesla Inc, Netflix Inc, British, Hamas, Dow Jones, Nasdaq, Japan's Nikkei, Thomson Locations: New York City, U.S, New York, Israel, Gaza, Asia, Pacific, Japan, London

Almost 9 million subscribers joined Netflix around the globe in the third quarter, surpassing Wall Street analysts' forecast for 6 million, according to LSEG. The strong performance showed Netflix was thriving despite Hollywood labor tensions that shut down a large swath of U.S. production. Netflix increased the U.S. price of its premium ad-free plan by $3 per month to $22.99. Substantial subscriber gains came in Europe, the Middle East and Africa, where Netflix added nearly 4 million subscribers. Netflix programming accounted for 8% of television screen time, second only to YouTube, the company said, citing Nielsen data.

Persons: Ted Sarandos, Sarandos, Paolo Pescatore, Mike Blake, Prince Harry's, Meghan Markle, Lisa Richwine, Aurora Ellis, Bill Berkrot, Leslie Adler Organizations: Netflix, Wall Street, Comcast, Brothers, Investors, REUTERS, USA, YouTube, Nielsen, Thomson Locations: United States, Britain, France, Los Angeles , California, U.S, Europe, East, Africa

[1/2] The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. The company picked up nearly 9 million new customers around the globe, surpassing the 6 million consensus forecast of Wall Street analysts surveyed by LSEG. The one-stream basic plan rose by $2 per month. GLOBAL PRICE HIKESIn Britain, Netflix increased the basic plan price by 1 pound to 7.99 pounds. Netflix projected fourth quarter revenue of $8.69 billion fell slightly below the $8.77 billion forecast of analysts polled by LSEG.

Persons: Mike Blake, Walt Disney, Paolo Pescatore, Lisa Richwine, Aurora Ellis Organizations: REUTERS, Netflix, Street, LSEG, Investors, Warner Bros Discovery, LSEG . Media, YouTube, Nielsen, Thomson Locations: Los Angeles , California, U.S, United States, Britain, France, Hollywood

☆ Stocks making the biggest moves midday: Costco, Paramount, MillerKnoll, ChargePoint and more
▼ + stars: | 2023-09-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Media stocks — A handful of media and studio stocks rose Wednesday after the nearly 150-day writer strike ended. ChargePoint , Blink Charging — Shares of ChargePoint and Blink Charging gained 4.1% and 5.5%, respectively after UBS initiated coverage of the electric charging stocks with buy ratings. XPO — Shares added roughly 2% after XPO stock was upgraded to outperform from Evercore ISI, with analyst Jonathan Chappell highlighting margin growth potential and stronger pricing power. Mattel — Shares of the toymaker rose more than 4% after Morgan Stanley initiated coverage of Mattel with an overweight rating. AAR Corp — Shares of the aircraft services company rose 2.3% on the back of its quarterly earnings report.

Persons: MillerKnoll, XPO, Jonathan Chappell, Morgan Stanley, Levi Strauss, TD Cowen, Levi's, Piper Sandler, Kosmos, — CNBC's Brian Evans, Alex Harring, Jesse Pound, Hakyung Kim Organizations: Media, Warner Bros . Discovery, Paramount Global, Comcast, Disney, Netflix, UBS, Costco —, Costco, Evercore ISI, Mattel —, Mattel, Federal Trade Commission, AAR, Kosmos Energy, Bank of America

☆ S.Korean broadband firm, Netflix says ending all disputes over costs
▼ + stars: | 2023-09-18 | by ( Joyce Lee | ) www.reuters.com time to read: +1 min

The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSEOUL, Sept 18 (Reuters) - South Korean internet service provider SK Broadband and Netflix Inc (NFLX.O) said on Monday they were ending all lawsuits with each other, having earlier been in dispute over whether Netflix should pay for costs from increased network traffic and maintenance work. SK Broadband and parent SK Telecom (017670.KS) announced in a joint statement with Netflix that they had agreed on a partnership to release joint products and seek ways to use artificial intelligence (AI) products being developed by SK. "Moving forward, SK Broadband and Netflix will end all disputes with the signing of today’s partnership, and collaborate as partners for the future," the statement said. Spokespeople for Netflix and SK Broadband said both had withdrawn their lawsuits.

Persons: Mike Blake, Joyce Lee, Jacqueline Wong, Simon Cameron, Moore Organizations: Netflix, REUTERS, Rights, SK Broadband, Netflix Inc, SK Telecom, SK, Thomson Locations: Los Angeles , California, U.S, Rights SEOUL, Korean

☆ Netflix reappoints former ambassador Susan Rice to board
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Domestic Policy Advisor Susan Rice speaks during the National Action Network National Convention in New York, U.S., April 12, 2023. REUTERS/Jeenah Moon Acquire Licensing RightsLOS ANGELES, Sept 8 (Reuters) - Netflix Inc (NFLX.O) has reappointed former White House official and U.N. ambassador Susan Rice to its board of directors, the streaming service announced on Friday. Rice served on the Netflix board from 2018 to 2020 before taking a role in President Joe Biden's administration as domestic policy adviser. Before her first stint on the Netflix board, Rice had a long career in Washington with positions including national security adviser and ambassador to the United Nations under Democratic President Barack Obama. Rice said she was pleased to rejoin the company's board, citing its commitment "to lifting the stories of people around the world."

Persons: Susan Rice, Rice, Joe Biden's, Susan, Ted Sarandos, Greg Peters, Barack Obama, Lisa Richwine, Sandra Maler Organizations: National Action Network, REUTERS, Netflix Inc, White House, Netflix, United Nations, Democratic, Thomson Locations: New York, U.S, Washington

☆ Striking Hollywood writers expected to respond to studios' proposal
▼ + stars: | 2023-08-15 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Sunset Bronson studios and Netflix offices in Los Angeles, California, U.S., August 11, 2023. Writers went on strike May 2 over an impasse on compensation, minimum staffing in writers' rooms, residual payments and other issues. Officials familiar with the specifics of the studios' proposal declined to provide details. The AMPTP had rejected as a "hiring quota" the WGA's demand for minimum staffing of writers' rooms. Writers have proposed curbs on the generative artificial intelligence, a complex topic the studios saw as requiring "a lot more discussion."

Persons: Mario Anzuoni, Writers, AMPTP, Dawn Chmielewski, Mary Milliken, Cynthia Osterman, Gerry Doyle Organizations: Writers Guild of America, Netflix, REUTERS, Companies Comcast Corp, Paramount, Writers ' Guild of America, Alliance, Television Producers, Walt Disney, Warner Bros Discovery, Reuters, Bloomberg, WGA, Screen Actors Guild, Thomson Locations: Sunset Bronson, Los Angeles , California, U.S, Los Angeles

☆ Hollywood writers to evaluate counterproposal from studios
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +1 min

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Sunset Bronson studios and Netflix offices in Los Angeles, California, U.S., August 11, 2023. REUTERS/Mario AnzuoniCompanies Comcast Corp FollowNetflix Inc FollowParamount Global Follow Show more companiesAug 11 (Reuters) - The union representing striking Hollywood writers said on Friday it had received a counterproposal from the studios that it would consider, an apparent sign of progress in the more than 100-day-old strike. Both sides met on Aug. 4 to discuss resuming talks and the issues each intended to bring to the bargaining table, but the WGA afterwards criticized the studios in a sign the talks were strained. The strike by Hollywood writers began on May 2 after talks between the WGA and the major studios reached an impasse over compensation, minimum staffing of writers' rooms and residual payments in the streaming era, among other issues. Reporting by Chandni Shah in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Mario, Walt Disney, Chandni Shah, William Mallard Organizations: Writers Guild of America, Netflix, REUTERS, Mario Anzuoni Companies Comcast Corp, Paramount, Hollywood, Guild of America, Alliance, Television Producers, Walt, WGA, Screen Actors, Thomson Locations: Sunset Bronson, Los Angeles , California, U.S, Bengaluru

☆ Bryan Cranston calls out Bob Iger at striking actors' rally
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike SegarNEW YORK, July 25 (Reuters) - Emmy-winning "Breaking Bad" actor Bryan Cranston rallied a crowd of striking Hollywood actors on Tuesday with comments directed at Walt Disney Co (DIS.N) Chief Executive Bob Iger. Iger angered members of the SAG-AFTRA actors union this month by saying their demands for a labor contract with higher pay and limits on use of artificial intelligence were "unreasonable." At a rally in Times Square in New York near Disney's ABC News studio, Cranston said the actors had "a message for Mr. The actors' union has asked for a requirement that studios obtain consent to use a star's digital image, among other protections. "We will not have you take away our right to work and earn a decent living," Cranston said in his remarks directed at Iger.

Persons: Bryan Cranston, Steve Buscemi, Brendan Fraser, F, Murray Abraham, Jill Hennessy, Mike Segar, Bob Iger, Iger, Cranston, Lisa Richwine, Jonathan Oatis Organizations: SAG, Times, REUTERS, Walt Disney Co, Disney's ABC, Hollywood, Alliance, Television Producers, Disney, Netflix Inc, Thomson Locations: Manhattan, New York City , New York, U.S, New York, Disney's, Hollywood, Iger

☆ Netflix quarterly revenue falls short of forecasts, shares drop
▼ + stars: | 2023-07-19 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

The company said it expected revenue growth to accelerate in the second half of the year. Netflix said it planned to kick-start revenue growth by "creating a steady drumbeat of must watch shows and movies; improving monetization; growing the enjoyment of our games; and investing to improve our service for members." The company reported diluted earnings-per-share of $3.29 for the second quarter, ahead of the $2.86 consensus forecast of analysts surveyed by Refinitiv. Its nearly 6 million subscriber additions outpaced the 1.9 million that Wall Street expected. Quarterly revenue climbed 2.7% from a year earlier to $8.2 billion, shy of analyst forecasts of $8.3 billion.

Persons: we’ve, Lisa Richwine, Deepa Babington Organizations: Netflix Inc, Netflix, Refinitiv, Thomson Locations: ANGELES, United States

☆ Hollywood studios say they offered actors $1 billion in gains before strike
▼ + stars: | 2023-07-18 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

LOS ANGELES, July 17 (Reuters) - Major film and television studios offered Hollywood actors more than $1 billion in higher compensation and enhanced benefits before the SAG-AFTRA union called a strike last week, a group that represents media companies said on Monday. "For SAG-AFTRA to assert that we have not been responsive to the needs of its membership is disingenuous at best," the AMPTP added. The union said the studios countered with an offer of 5%. "We moved on some things, but from day one they wouldn’t meaningfully engage on the most critical issues," SAG-AFTRA said. The actors have joined members of the Writers Guild of America (WGA), which went on strike May 2 after failing to reach a deal with the AMPTP.

Persons: AFTRA, Lisa Richwine, Robert Birsel Organizations: SAG, Alliance, Television Producers, Netflix Inc, Walt Disney Co, Warner Bros Discovery, Writers Guild of America, Thomson Locations: ANGELES

☆ US stocks rise on earnings outlook, global shares dip on China data
▼ + stars: | 2023-07-17 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. The tech-heavy Nasdaq led U.S. stocks higher, supported by megacap growth stocks including Apple, Nvidia and Tesla, ahead of quarterly results from industry heavyweights later this week. Second-quarter earnings are expected to decline 8.1%, according to Refinitiv data, down further than the 5.7% decline expected at the start of the month. Data on U.S. retail sales are expected to show a rise of 0.3% ex-autos, continuing the slower trend but solid enough to fit into the market's soft-landing theme. Futures are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.40% in November.

Persons: Brendan McDermid, Morgan Stanley, Goldman, it's, Anthony Saglimbene, James Ragan, Brent, Herbert Lash, Karen Brettell, Amanda Cooper, Wayne Cole, Lincoln, Christina Fincher, Barbara Lewis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Wall, Nasdaq, Apple, Nvidia, Tesla, Tesla Inc, Bank of America Corp, Goldman Sachs Group Inc, Netflix Inc, Dow Jones, Fed, Treasury, Reuters Graphics Oil, Thomson Locations: New York City, U.S, China, Troy , Michigan, Davidson, Seattle, Europe, New York, London, Sydney

☆ Global shares dip after China data; US stocks gain
▼ + stars: | 2023-07-17 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. The tech-heavy Nasdaq led U.S. stocks higher, supported by megacap growth stocks including Apple and Tesla, ahead of quarterly results from industry heavyweights later this week. Stocks in Europe closed lower, with the pan-regional STOXX 600 index (.STOXX) down 0.63% while MSCI's gauge of stocks across the globe (.MIWD00000PUS), which is heavily weighted to U.S. megacap stocks, edged higher by 0.14%. Futures are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.40% in November. U.S. crude fell $1.27 to settle at $74.15 per barrel and Brent settled down $1.37 at $78.50.

Persons: Brendan McDermid, Morgan Stanley, Goldman, it's, Anthony Saglimbene, James Ragan, Brent, Herbert Lash, Karen Brettell, Amanda Cooper, Wayne Cole, Lincoln, Christina Fincher, Barbara Lewis Organizations: New York Stock Exchange, REUTERS, YORK, Nasdaq, Apple, Tesla, Tesla Inc, Bank of America Corp, Goldman Sachs Group Inc, Netflix Inc, Dow Jones, Fed, Treasury, Reuters Graphics Sterling, Bank of England, CBA, Thomson Locations: New York City, U.S, China, Troy , Michigan, Davidson, Seattle, Europe, New York, London, Sydney

The actors' union said on Thursday its board had unanimously agreed to a strike after failing to reach a deal with studios, including Walt Disney Co (DIS.N) and Netflix Inc (NFLX.O). Officials said actors would join picket lines in New York and Los Angeles starting on Friday. The economic damage is expected to spread after actors join the picket lines. The actors' walkout will shut down the studios' remaining U.S.-based productions of film and scripted television and hamper many overseas shoots. Britain's main entertainment industry union Equity said it backed its U.S. counterpart and would be bringing up many of the same issues in its own contract negotiations over the next 12 months.

Persons: Fran Drescher, Duncan Crabtree, Drescher, Rather, AFTRA, Paul Fleming, Lisa Richwine, Marie, Louise Gumuchian, Diane Craft, Andrew Heavens, Barbara Lewis Organizations: SAG, Alliance, Television Producers, Studios, Britain's Equity, Hollywood, Writers Guild of America, Walt Disney Co, Netflix Inc, Los Angeles, Equity, U.S ., Reuters, Thomson Locations: Hollywood's, New York, Los, California, Britain, London

LOS ANGELES, July 13 (Reuters) - Hollywood actors will go on strike at midnight on Thursday after talks with studios broke down, joining film and television writers who have been on picket lines since May and deepening the disruption of scores of shows and movies. The actors' union announced at a Thursday press conference that the strike will begin at midnight after its national board unanimously authorized the walkout. Fran Drescher, former star of "The Nanny" TV show and the president of SAG-AFTRA, called the studios' responses to actors' concerns "insulting and disrespectful." But the loss of actors, who will also not promote their films or TV shows while on strike, will put more pressure on media companies to find a resolution. The economic damage is expected to spread after actors join the picket lines on Friday.

Persons: Fran Drescher, Drescher, AFTRA, Rather, Duncan Crabtree, Ridley Scott, Bob Iger, Iger, Matt Damon, Oppenheimer, Lisa Richwine, Jonathan Allen, Dawn Chmielewski, Marie, Louise Gumuchian, Mark Porter, Bill Berkrot Organizations: SAG, Writers Guild of America, Television Producers, Netflix Inc, Walt Disney Co, Reuters, Alliance, Paramount Pictures, Hollywood, WGA, Screen Actors Guild, Disney, CNBC, Comcast, Paramount Global, Thomson Locations: ANGELES, United States, Hollywood's, Morocco, Malta, Idaho, California

☆ Hollywood faces possible second strike as actors' talks near deadline
▼ + stars: | 2023-06-30 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

The letter came after union negotiators issued a video saying their talks had been "extremely productive," a possible sign that a deal was within reach. A strike by SAG-AFTRA, which represents 160,000 actors, would turn up the heat on Hollywood studios already grappling with a nearly two-month work stoppage by the Writers Guild of America (WGA). Any ongoing filming would have to halt if actors also strike. The studios and the WGA have not held talks since the writers' strike began on May 2. The last writers' strike in 2007 and 2008 cost the California economy an estimated $2.1 billion.

Persons: Jennifer Lawrence, Meryl Streep, Phoebe Waller, Indiana Jones, Waller, AFTRA, Judd Apatow, Lisa Richwine, Hanna Rantala, Sarah Mills, Mary Milliken, Rosalba O'Brien Organizations: Netflix Inc, Walt Disney Co, SAG, Hollywood, Writers Guild of America, WGA, Reuters, Television Producers, Thomson Locations: ANGELES, London, California, Los Angeles

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