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☆ BofA Securities' Jessica Reif Ehrlich discusses her buy rating on Disney
  + stars: | 2023-02-09 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA Securities' Jessica Reif Ehrlich discusses her buy rating on DisneyJessica Reif Ehrlich, senior U.S. media and entertainment analyst at BofA Securities, joins 'Squawk on the Street' to break down her buy rating on Disney.
☆ Watch CNBC's full interview with Bank of America's Jessica Reif Ehrlich
  + stars: | 2023-02-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Bank of America's Jessica Reif EhrlichJessica Reif Ehrlich, senior U.S. media and entertainment analyst at BofA Securities, joins 'Squawk on the Street' to break down her buy rating on Disney.
☆ Analysts praise Disney's cost-cutting plan, say focus on profitability is 'restoring the magic'
  + stars: | 2023-02-09 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
The cost-saving initiatives unveiled by Disney on Wednesday give analysts another reason to remain bullish on the media giant. The commentary from analysts comes after the company on Wednesday revealed plans to cut 7,000 jobs and slash $5.5 billion in costs . "Bob Iger laid out a plan for cost cuts, content and streaming rationalization and ultimately improved profitability," said Wells Fargo's Steven Cahall in a Wednesday note to clients. "An execution story is a cleaner catalyst path, and the shares should track higher on confidence + estimates." "Bob Iger has a long, strong track record which provides confidence he will manage this transition for DIS," she said.
☆ Activist Peltz makes nice with Disney, ends board challenge
  + stars: | 2023-02-09 | by ( Svea Herbst-Bayliss Dawn Chmielewski | Svea Herbst-Bayliss | Dawn Chmielewski | ) www.reuters.com   time to read: +6 min
Disney issued a statement applauding Peltz's decision to end a board challenge which it called a "distraction. 'FIRST PHASE' IN DISNEY'S TRANSFORMATIONFor Peltz's Trian Fund Management the board challenge appears to have paid off with an estimated 20% gain on his investment. Analysts said Peltz made a reasonable request for one board seat and to join the 12-member board himself. Peltz appeared on CNBC on Thursday to announce his proxy fight with Disney was over. "Bob Iger has a long, strong track record which provides confidence he will manage this transition for Disney."
☆ Disney CEO Bob Iger has 'very little room for maneuver' as he tackles layoffs, budget cuts, a company reorg, and questions over the future of Hulu and ESPN
  + stars: | 2023-02-07 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +11 min
Disney chief Bob Iger will speak Wednesday on his first quarterly earnings call since returning as CEO. Wall Street wants to see how Disney plans to boost profitability this year and whether it will trade ESPN or Hulu. Aside from a quick visit to Disney World in January, Bob Iger has been lying very low. Media investor Ross Gerber told Insider that Iger would get back to focusing on content rather than on the distribution mechanism. Iger tweeted a photo of himself at Disney World, dressed in a relaxed green cardigan and gray slacks as he posed with cast members on January 19.
☆ Disney has bigger problems than Ron DeSantis
  + stars: | 2023-02-07 | by ( Chris Isidore | ) edition.cnn.com   time to read: +10 min
But there are problems with spinning off ESPN, even if it would raise cash and allow Disney to trim debt. Labor painsUnionized rank-and-file workers at Disney World last week voted 96% against a contract offer from Disney that would have given them raises of at least $1 a year over the next five years. The company called the rejected wage proposal a “very strong offer.”But the last thing that Iger or Disney needs is to upset the strong demand for travel to Disney World or other park locations. Political battles in FloridaThe political culture wars are yet another headache for Iger, as Disney faces the possible loss of the powers it has to operate as a government-like entity for the land on which Disney World operates. “We are monitoring the progression of the draft legislation, which is complex given the long history of the Reedy Creek Improvement District,” said Jeff Vahle, president, Walt Disney World Resort.
☆ Disney investors await CEO Iger's revival plan with results on tap
  + stars: | 2023-02-07 | by ( Dawn Chmielewski | ) www.reuters.com   time to read: +3 min
LOS ANGELES, Feb 7 (Reuters) - Walt Disney Co (DIS.N) CEO Bob Iger is expected to discuss a turnaround plan on Wednesday, when the media company delivers its first quarterly results since the return of the executive who built the modern incarnation of Disney. "This is the right place to do it. It also endorsed Iger's leadership, adding that Disney generated a shareholder return of 554% under his previous tenure as CEO. That change resulted in the departure of Kareem Daniel, head of the Disney Media and Entertainment Distribution group created by Iger's predecessor, Bob Chapek, to consolidate budgeting and distribution for the studio's content. Analysts polled by FactSet estimate Disney+ will have 163 million subscribers, down modestly from the previous quarter.
☆ Bank of America reveals its top stocks ahead of earnings, including a favorite solar name
  + stars: | 2023-01-28 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
There still are plenty of stock-buying opportunities as earnings reports continue to roll out, according to Bank of America analysts. CNBC Pro combed through Bank of America's recent research to find the most attractive stocks that are well-positoned ahead of their reports. Fox Buy shares of the "best positioned" company in media, analyst Jessica Reif Ehrlich said recently about Fox . "We find Grab well positioned to balance revenue growth with profitability in both its core businesses— delivery & mobility," Salgaonkar said. Thesis: 1) We find Grab well positioned to balance revenue growth with profitability in both its core businesses - delivery & mobility.
☆ Netflix password crackdown will create churn in early 2023, says BofA Securities' Jessica Reif Ehrlich
  + stars: | 2023-01-20 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix password crackdown will create churn in early 2023, says BofA Securities' Jessica Reif EhrlichJessica Reif Ehrlich of BofA Securities, joins 'TechCheck' to discuss the future of Netflix.
☆ Bank of America says these stocks have the most 'potential upside' this holiday season
  + stars: | 2022-12-10 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Analysts at Bank of America named five stocks this week that they say every investor must own heading into 2023. CNBC Pro combed through Bank of America research looking for stocks with major upside potential. Netflix Shares of Netflix are down 46.8% this year, but analyst Jessica Reif Ehrlich is standing by the streaming giant. Kroger Kroger shares have gained nearly 2.6% this year, but the stock has a lot more room to run, according to analyst Robert Ohmes. ... We rate Solo Brands' shares Buy as we believe its unique platform strategy should enable its high growth Leisure brands."
☆ Top media analyst from Bank of America names the best value stock in the sector
  + stars: | 2022-12-07 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +4 min
Warner Bros. Discovery is the best value stock in the media and entertainment sector, according to Bank of America. That implies that Warner Bros. Discovery has made a tremendous amount of operational and strategic changes since April, wrote analyst Jessica Reif Ehrlich. Warner Bros.
☆ At Disney, Iger confronts succession problem he helped create
  + stars: | 2022-11-22 | by ( Dawn Chmielewski Helen Coster | Dawn Chmielewski | Helen Coster | ) www.reuters.com   time to read: +6 min
[1/3] FILEPHOTO: Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. In his 15 years as Disney chief executive, Iger postponed his retirement four times, sidelining would-be successors. read more Part of his mandate, according to Disney, is to work with the board to develop a successor to lead the company. Chapek was among a shortlist of internal candidates vying for Iger's job, according to a source familiar with discussions. Another seen as a top contender was Kevin Mayer, Disney's longtime head of strategic planning who had shepherded the successful launch of Disney+, according to sources.
☆ Disney's media sales boss to exit in Iger shake-up
  + stars: | 2022-11-22 | by ( ) www.reuters.com   time to read: +1 min
Nov 21 (Reuters) - A day after returning to the company, Walt Disney Co (DIS.N) Chief Executive Bob Iger moved to undo a corporate structure put in place by his hand-picked successor. Iger said the restructuring would result in changes to Disney Media & Entertainment Distribution, a unit former CEO Bob Chapek formed in October 2020 to centralize all film and television sales and distribution. Bank of America analyst Jessica Reif Ehrlich said Iger's decisive action resembles his management approach during his first stint as Disney's CEO. During that time, he quickly calmed tensions with Pixar Animation Studio's chief executive, Steve Jobs. Reporting by Dawn Chmielewski in Los Angeles; Editing by Mark Porter and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.
☆ Watch CNBC's full interview with Bank of America's Jessica Ehrlich
  + stars: | 2022-11-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Bank of America's Jessica EhrlichJessica Reif Ehrlich, senior U.S. media and entertainment analyst at BofA Securities, joins 'The Exchange' to discuss her bullish case for Netflix and explore if the worst is over for Netflix in the short term.
☆ Bank of America double upgrades Netflix to buy, says ad subscriber tier can drive 23% upside
  + stars: | 2022-11-15 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
Netflix's monetization efforts make it an attractive stock despite slowing subscriber growth, Bank of America said Tuesday. Analyst Jessica Reif Ehrlich took over coverage of the stock and double upgraded it to buy from underperform. Ehrlich also has a price target of $370 on Netflix, implying upside of 23.6% from Monday's close. "Despite slower sub growth, we believe efforts to improve monetization via a value-oriented ad tier and significant conversion of password sharers has the potential to drive operating/financial upside." The streaming giant, which is using Microsoft for its ad needs, turned to the tier after years of rejecting the idea as a way to mitigate declines in subscriber growth.
☆ Netflix could rise 24% on the back of its new ad-supported tier and password crackdown, BofA says
  + stars: | 2022-11-15 | by ( Carla Mozée | ) www.businessinsider.com   time to read: +3 min
Netflix shares could rise 24% from current levels to hit $370, Bank of America said Tuesday. Netflix shares on Tuesday rose as much as 4.5% to $312.71, the highest price in about six months. Netflix earlier this month rolled out its "Basic with Ads" subscribership tier that costs $6.99 a month. BofA estimated the Basic AVOD tier could drive $719 million in revenue in the United States and Canada in 2024. Netflix estimates 100 million potential subscribers, including 30 million in the US and Canada, are lost as a result of password sharing, said BofA.
☆ The CEO of Barry Diller's IAC says Netflix with ads will be a double blow to network TV revenue: 'Now they're losing audience and losing scarcity.'
  + stars: | 2022-10-20 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +4 min
The growth of ad-supported streaming at scale is set to challenge the $60 billion TV ad business. One top internet executive, IAC CEO Joey Levin, says Netflix will destroy networks' scarcity argument. Wall Street also is waiting to see if Netflix draws ad dollars from social media or TV. Traditional TV networks are about to lose one of their main arguments for charging big rates for ads. Netflix's arrival on Madison Avenue next year is going to erode the hugely lucrative TV ad business, said Levin, who spoke with Insider in September.
☆ After months of subscriber losses, Netflix is under pressure to prove its ad-supported tier can stop the bleeding. Here's why Wall Street is skeptical ahead of this week's earnings results.
  + stars: | 2022-10-17 | by ( Reed Alexander | ) www.businessinsider.com   time to read: +7 min
Netflix will report third-quarter earnings Tuesday, and all eyes are on its new ad-supported tier. Wall Street hopes that the streamer's Basic with Ads plan will boost subscriptions and revenue — but some analysts are skeptical. Complicating matters further, analysts at Wedbush Securities warned that the streamer may report hundreds of thousands of additional subscriber losses this quarter. A recent survey conducted by Samba TV with Harris X found that nearly half of current Netflix subscribers said they'd consider simply trading down their existing membership to the forthcoming cheaper service. While the service still counts more than 220 million overall subscribers, Netflix has blamed the losses on increased competition and account sharing.
☆ How political candidates are targeting you on social media based on your music tastes, shopping habits and favorite TV shows
  + stars: | 2022-09-23 | by ( Casey Tolan | ) edition.cnn.com   time to read: +11 min
(CNN) Marco Rubio hopes to sway voters interested in Chick-fil-A, Ram trucks, and Duck Dynasty. "Political campaigns are using that to their advantage." Rogan, a controversial figure who's popular on the right, attracted more attention from campaigns targeting Facebook ads than any other interest topic in the period analyzed by CNN. The targeting data shows a wide variety of approaches. But most people likely have no idea that they're seeing certain political ads because of their interests in a band or TV show, Woolley noted.
☆ Warner Bros. Discovery CEO David Zaslav faces 3 key challenges as financial headwinds disrupt his strategy and threaten his promises to Wall Street
  + stars: | 2022-09-22 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +12 min
MoffettNathanson analyst Robert Fishman crystallized the daunting task ahead for Zaslav and WBD in his August 5 report "Reality First. The honeymoon was short-lived," said one senior Hollywood insider. It turns out there are five, housing some 40,000 employees globally: Warner Bros., HBO Max, the Turner entertainment channel business, CNN, and Discovery. The WBD insider said there isn't a rush to hire a new chief and that the company will continue to meet people. Under the ownership of AT&T, WarnerMedia's financials were buried in its parent's spreadsheets — now as a pure-play entertainment company, Warner Bros.
☆ MIT professor wrongfully accused of spying for China helps make a major discovery
  + stars: | 2022-08-25 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com   time to read: +8 min
Months after an MIT professor was cleared of spying for China, he helped make a major scientific discovery. But for me, I’m stopping that research,” Chen, a Chinese immigrant, said. The research, Chen emphasized, is still in its early stages and the material likely years away from commercial use. The failure to report specific work history, for example, had been interpreted by officials as attempts to conceal affiliations with China. “And I decided to stay and actually I’d say I’m very grateful that I got all the opportunities that occurred.
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