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☆ Wall St little changed as investors eye yields, Fed comments
▼ + stars: | 2023-11-08 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. U.S. Treasury yields have retreated sharply from their recent highs. That drop has helped fuel a rally in stocks, sending the S&P 500 (.SPX) and the Nasdaq (.IXIC) to their longest streak of gains in two years through Tuesday's close. Still, comments from several central bank officials over the past few days left the door open for additional hikes, causing some uncertainty among investors. The S&P 500 posted 15 new 52-week highs and five new lows while the Nasdaq recorded 52 new highs and 173 new lows.

Persons: Brendan McDermid, we're, Jason Ware, Jerome Powell, Chuck Mikolajczak, Richard Chang Organizations: New York Stock Exchange, REUTERS, Warner Bros, Dow, Nasdaq, Federal, Treasury, Fed, Albion Financial, Dow Jones, Warner Bros Discovery, Paramount Global, Tech, Thomson Locations: New York City, U.S, Tuesday's

☆ Warner Bros Discovery beats quarterly profit estimates amid strike, sluggish ad market
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Discovery Atlanta campus is pictured after the Writers Guild of America began their strike against the Alliance of Motion Pictures and Television Producers, in Atlanta, Georgia, U.S. May 2, 2023. The media company forged by the union of WarnerMedia and Discovery posted adjusted core earnings of $2.97 billion, above estimates of $2.92 billion, as per LSEG data. The company had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter. In May, it launched its Max streaming service - combining HBO Max's scripted entertainment with Discovery's reality shows. Reporting by Samrhitha Arunasalam in Bengaluru and Helen Coster in New York; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, David Zaslav, Samrhitha, Helen Coster, Saumyadeb Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, SAG, HBO, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru, New York

☆ Morning Bid: Oil-fueled rally turns to Powell
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +5 min

[1/2] Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., November 1, 2023. And that's hit home by dragging U.S. pump prices down to levels not seen since March. Overall, U.S. 10-year yields remained on the back foot at 4.57% first thing and ahead of Wednesday's auction. Although Asian and European stocks fell back a bit, Wall St stock futures were unchanged before the bell. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jerome Powell, Kevin Lamarque, Mike Dolan, who's, Christine Lagarde, Andrew Bailey, Michelle Bowman, Austan Goolsbee, Christopher Waller, BoE, Ping, Donald Trump, White, Philip Jefferson, Michael Barr, Lisa Cook, John Williams, Joachim Nagel, Walt Disney, Ralph Lauren, Toby Chopra Organizations: Federal Reserve, Federal, Committee, REUTERS, Mike Dolan Wall, European Central Bank, Bank of England, Atlanta, Fed, Chicago Fed, St, Reuters, Ping An Insurance, HK, New York Fed, Warner Bros Discovery, MGM Resorts, Biogen, Energy, Treasury, Federal Reserve Bank of New, Thomson Locations: Washington , U.S, U.S, Gaza, Tokyo, Ohio, Kentucky, Brussels, Federal Reserve Bank of New York

The company reported free cash flow of $2.06 billion, compared with $1.72 billion in the prior quarter. The company posted a net loss of $417 million, narrowing from a $2.3 billion net loss from a year-ago period. Advertising revenue at its networks segment declined 12% to $1.71 billion as global conflicts and inflation created an uncertain climate for marketers. The company's streaming unit posted an adjusted core profit of $111 million, compared with a loss of $634 million a year ago. Warner Bros Discovery had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter.

Persons: Mario Anzuoni, Gunnar Wiedenfels, there's, Wiedenfels, David Zaslav, Michael Schulman, Barbie, Thomas Hayes, Samrhitha, Helen Coster, Saumyadeb Chakrabarty, Anil D'Silva, Mark Porter Organizations: Paramount Pictures Studios, REUTERS, Warner Bros Discovery, SAG, Running, HBO, Thomson Locations: Los Angeles , California, U.S, Bengaluru, New York

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Meanwhile, Fed Chair Jerome Powell did not comment on monetary policy in opening remarks to the U.S central bank statistics conference. On the earnings front, eBay <EBAY.O> shed 5.5% as the e-commerce platform forecast fourth-quarter revenue and profit below Wall Street estimates. Advancing issues outnumbered decliners by a 1.31-to-1 ratio on the NYSE and by a 1.08-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and four new lows, while the Nasdaq recorded 31 new highs and 75 new lows.

Persons: Brendan McDermid, Armour, Peter Andersen, Michelle Bowman, Jerome Powell, Amruta Khandekar, Anil D'Silva, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Warner Bros, Dow, Nasdaq, Federal Reserve, Treasury, Fed, Andersen Capital Management, Analysts, eBay, Wall, Warner Bros Discovery, Dow Jones, Rockstar Games, NYSE, Thomson Locations: New York City, U.S, Boston

☆ One options trader is making a big bet Disney will pop 10% on earnings this week
▼ + stars: | 2023-11-06 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

We'll touch on Berkshire Hathaway's weekend report, review some interesting companies reporting in the week ahead and then analyze a curious call spread in Disney ahead of earnings. Our thinking, and the options sentiment suggested, that earnings might be the catalyst for a turnaround. It seems at least one institutional options trader thinks that earnings might be the catalyst for an upside move in the name. With Disney trading around $85 a share, apparently someone is willing to bet a small percentage of the current stock price that the stock could pop well over 10% post-earnings — something that hasn't happened since their August 2022 earnings release. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Warren, Warren Buffett, Charlie Munger, Berkshire Hathaway Organizations: Berkshire, MGM Resorts, Warner Bros Discovery, Disney, ESPN, DIS Locations: Disney, Berkshire

☆ Earnings playbook: How to trade the biggest reports this week, including Disney
▼ + stars: | 2023-11-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Horton is set to report earnings before the bell, followed by a conference call at 8:30 a.m. Wednesday Biogen is set to report earnings in the premarket. Disney is set to report earnings after the close, with a conference call scheduled for 4:30 p.m. MGM Resorts is set to report earnings after the closing bell, with a call slated for 5 p.m. What history shows: MGM only exceeds earnings estimates 53% of the time, Bespoke data shows.

Persons: Horton, FactSet's John Butters, Butters, D.R, DHI, BIIB, WBD, Max, Bank of America Jessica Reif Ehrlich, Goldman Sachs, Brett Feldman, Bill Hornbuckle, — CNBC's Michael Bloom Organizations: Disney, MGM Resorts, CNBC, LSEG, Federal Reserve, Investment, Warner Bros, Warner Bros Discovery, Warner, Bank of America, MGM Locations: Macao

☆ Cramer's week ahead: Watch for earnings from oil and gas outfits
▼ + stars: | 2023-11-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

He said he'll be paying close attention to several quarterly earnings reports, especially from oil and gas companies. "Now, we will not be oversold next week like we were when we came in on Monday, so I don't expect the kind of strength we got this week," Cramer said. "So, if you have some positions you don't like, it's time to [sell, sell, sell!]." On Monday, Cramer said he'll be waiting to hear earnings results from Coterra and Diamondback Energy , both oil and gas companies he likes. Disney reports after close, and Cramer said it's important the company indicates it has strategic partners with whom it can conduct business.

Persons: CNBC's Jim Cramer, he'll, Cramer, Tuesday's, Warren Buffett, David Zaslov, he's, Fisher, Danaher Organizations: Diamondback Energy, Emerson Electric, Warner Bros Discovery, Kellogg, Disney, Michigan Consumer, Federal Locations: Devon, Occidental, Kellanova, Michigan

☆ Paramount narrows streaming loss forecast as investments peak
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 3 (Reuters) - Paramount Global shares (PARA.O) surged 10% on Friday, after the media company narrowed the 2023 loss forecast for its fast-growing streaming business as investments peaked a year ahead of target. "We now expect DTC (direct-to-consumer) losses in 2023 will be lower than in 2022 – meaning streaming investment peaked ahead of plan," Paramount CEO Bob Bakish said. Despite the industry's focus pivoting to profitability, analysts do not see a clear path to that target, with brokerage Needham believing that Paramount could be bought by a larger streaming competitor. "It is bite-size enough to be acquired by a larger streaming competitor for its deep library of film and TV content, as well as its sports rights and news assets."

Persons: Dado Ruvic, HBO Max, Bob Bakish, Needham, Samrhitha, Devika Organizations: REUTERS, Paramount Global, Disney, HBO, Rivals Walt Disney, Warner Bros Discovery, Paramount, NFL, Thomson Locations: Bengaluru

☆ These companies are slashing earnings estimates, but the market may have sniffed that out already
▼ + stars: | 2023-11-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The S & P 500 was expected to see an earnings gain of 11% for the fourth quarter on Oct. 1, and that expectation is now down to 7.8%. "We're seeing larger estimate cuts than average for S & P 500 companies through the first month of the fourth quarter," John Butters at FactSet said. Roughly 60 companies in the S & P 500 have disclosed declines of 10% or more in their earnings expectations in the month of October, according to LSEG. Earnings revisions: Notable declines in airlines and cruise lines Here are some of the S & P 500 companies that have seen earnings estimates decline 10% or more since the start of the fourth quarter, according to LSEG. The markets have sniffed this out: What's next The stock market, of course, does not wait for analysts to cut earnings estimates.

Persons: John Butters, FactSet, Nick Raich, Refiners Valero, Goldman Sachs, Morgan Stanley, Alec Young Organizations: Boeing, . Airlines, Companies, Cruise Lines American Airlines, Cruise Line, Alaska Air Group, Southwest Airlines, Airlines, Delta, Entertainment Warner Bros Discovery, Paramount Global, Fox, MGM Resorts, Ford, Motors, Pfizer, Merck, Petroleum, Phillips, Seagate, Texas, Banks, Capital Markets, Blackstone, Intel, JETS, Energy, Pharmaceuticals

Smartphone with Netflix logo is placed on a keyboard in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsLOS ANGELES Oct 19 (Reuters) - Streaming pioneer Netflix (NFLX.O) showed resilience by gaining more quarterly subscribers than in the past three years despite strikes by Hollywood's writers and actors, sending its shares up 13.5% in premarket trading on Thursday. Shares rose to $393.45 in an indication that the company was set to add nearly $21 billion to its market capitalization. "The management deserves an Emmy for managing investor expectations," Bernstein analysts wrote in a note, adding that paid-sharing has opened up a bigger-than-expected market of potential subscribers for Netflix. "Due to its large international presence, Netflix is positioned better than most entertainment companies in plugging programming gaps from the writers' and actors' strikes," said Insider Intelligence principal analyst Ross Benes.

Persons: Dado, Bernstein, Walt Disney, Ross Benes, Benes, Ted Sarandos, Sarandos, Sophie Lund, Yates, Hargreaves Lansdown, Dawn Chmielewski, Lisa Richwine, Chavi Mehta, Gerry Doyle, Arun Koyyur Organizations: Netflix, REUTERS, Paramount Global, Warner Bros Discovery, Writers Guild of America, Intelligence, vise, Netflix's U.S, USA Network, Thomson Locations: Los Angeles, Bengaluru

[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

☆ DirecTV says Warner Bros Discovery streaming CNN violates deal - NYT
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: 1 min

The exterior of the Warner Bros. Discovery Atlanta campus is pictured in Atlanta, Georgia, U.S. May 2, 2023. REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsOct 3 (Reuters) - Satellite TV provider DirecTV warned CNN-parent Warner Bros Discovery (WBD.O) that its plan to stream the news service risks violating a contract between the companies, the New York Times reported on Tuesday, citing people familiar with the matter. DirecTV did not immediately respond to a Reuters request for comment. Reporting by Akash Sriram in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, Akash Sriram, Shinjini Organizations: Warner Bros . Discovery, REUTERS, DirecTV, CNN, Warner Bros Discovery, New York Times, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru

☆ Epic Games is laying off about 830 employees, divesting Bandcamp
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

The Epic Games logo, maker of the popular video game "Fortnite", is pictured on a screen in this picture illustration August 14, 2020. REUTERS/Brendan McDermid/Illustration Acquire Licensing RightsSept 28 (Reuters) - "Fortnite" maker Epic Games is laying off about 830 employees, or 16% of its staff, and divesting online music platform Bandcamp, the company said on Thursday. The videogame company will also spin-off most of SuperAwesome, which Epic Games acquired in 2020. SuperAwesome is a platform for developers to include kid-safety tools in their products. The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles.

Persons: Brendan McDermid, Tim Sweeney, Sweeney, Harry Potter, Chavi Mehta, Samrhitha, Jaspreet Singh, Arun Koyyur, Maju Samuel Organizations: REUTERS, Epic Games, Warner Bros Discovery, Apple, U.S, Supreme, Thomson Locations: SuperAwesome, Bengaluru

☆ Epic Games is laying off roughly 900 employees - Bloomberg News
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

The Epic Games logo, maker of the popular video game "Fortnite", is pictured on a screen in this picture illustration August 14, 2020. REUTERS/Brendan McDermid/Illustration Acquire Licensing RightsSept 28 (Reuters) - "Fortnite" maker Epic Games is laying off about 900 employees, or 16% of its staff, Bloomberg News reported on Thursday. The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles. Epic Games could not immediately be reached for comment. Reporting by Chavi Mehta and Samrhitha Arunasalam in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Harry Potter, Chavi Mehta, Samrhitha, Arun Koyyur Organizations: REUTERS, Bloomberg, Warner Bros Discovery, Apple, U.S, Supreme, Thomson Locations: Bengaluru

☆ Full-frontal nude dating show ‘Naked Attraction’ premieres on Max
▼ + stars: | 2023-09-27 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

REUTERS/Danny Moloshok/File Photo Acquire Licensing RightsSept 27 (Reuters) - A new addition to streaming service Max strips the reality dating show genre down to its bare essentials. "Naked Attraction" features six nude contestants in glass booths whose body parts are gradually revealed, “bit by lovely bit,” until a single contestant is chosen for a date. “I will remind you that HBO is the home of ‘Real Sex’ and ‘Cathouse,'” Bloys said at the Vox Media’s Code 2023 conference, referring to other explicit shows. “You need an entire mix of programming.”Discovery+ acquired all seasons of "Naked Attraction," in a 2021 deal with Britain-based distributor All3Media. As of Wednesday, the show was the most popular series on the streaming service, a week after its launch.

Persons: Casey Bloys, Danny Moloshok, Max, ” Casey Bloys, ‘, Bloys, CNN Max, Ana Navarro, Dawn Chmielewski, Cynthia Osterman Organizations: HBO, HBO Television, Association Summer Press, REUTERS, Max, ‘, Vox, Warner Bros, Discovery, CNN, Thomson Locations: Beverly Hills , California, U.S, Britain, Italy, Sweden, Singapore, American, Dana Point , California

The iconic Hollywood sign is pictured the day after the Writers Guild of America (WGA) announced it reached a preliminary labor agreement with major studios in Los Angeles, California, U.S., September 25, 2023. The Writers Guild of America (WGA) leadership voted unanimously to end the strike on Wednesday, the guild said in a statement. In other areas, the guild said it won guarantees of minimum staffing in writers’ rooms, a key issue for many of its members. Maher and Drew Barrymore had angered writers by saying this month that their talk shows would return before the strike ended. The end of the WGA strike does not return Hollywood to normal.

Persons: Mario Anzuoni, Walt Disney, Adam Conover, WE, Conover, David Slack, Bill Maher, Maher, Drew Barrymore, Lisa Richwine, Dawn Chmielewski, Jamie Freed, Leslie Adler, Gerry Doyle Organizations: Writers Guild of America, REUTERS, Guild of America, WGA, Netflix, Warner Bros Discovery, SAG, Thomson Locations: Los Angeles , California, U.S, United States

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 25 (Reuters) - Big media companies gave up early share gains from hopes of an end to screenwriters' strike on Monday as focus shifted to an ongoing strike by actors, whose resolution is crucial for a full return to work in Hollywood. But a strike by a larger guild of actors is still on. Nearly 160,000 film and television actors, stunt performers and other media professionals walked off the job in July, demanding higher wages and protection against artificial intelligence use. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.

Persons: Mike Blake, Walt Disney, Susannah Streeter, Hargreaves Lansdown, WBD, David Zaslav, Rosenblatt, Barton Crockett, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur Organizations: Writers Guild of America, Disney Studios, REUTERS, Big, Warner Bros Discovery, Paramount Global, Hargreaves, Paramount, Disney, Netflix, Media, Thomson Locations: Burbank , California, U.S, Hollywood, Bengaluru

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. The union representing roughly 11,500 film and television writers and the group that represents the studios and streaming companies announced the preliminary agreement on Sunday. The three-year deal, whose details were not disclosed, needs to be approved by the leadership of the Writers Guild of America and union members to officially end the strike. But even after the approval, it will take longer for productions to resume as Hollywood actors are still on strike. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.

Persons: Mike Blake, Walt Disney, Susannah Streeter, Hargreaves Lansdown, WBD, David Zaslav, Craig Huber, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur Organizations: Writers Guild of America, Disney Studios, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Paramount, Disney, Media, Huber Research Partners, Thomson Locations: Burbank , California, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Uncertainty around the trajectory for interest rates, including a potential hike by year-end and expectations for fewer cuts next year, have pushed the 10-year Treasury yield to a 16-year high, hurting growth stocks. ET, Dow e-minis were down 13 points, or 0.04%, S&P 500 e-minis were down 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 11 points, or 0.07%. HP Inc (HPQ.N) dipped 2.7% after Warren Buffett's Berkshire Hathaway (BRKa.N) sold nearly 4.8 million shares of the PC maker. Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Arun Koyyur and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Berkshire Hathaway, Jerome Powell, dampening, Raffi Boyadjian, Walt Disney, Warren Buffett's Berkshire Hathaway, Jefferies, JD.com, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Federal Reserve, Nvidia, Investors, Traders, XM, Dow e, Media, Warner Bros Discovery, Paramount Global, Netflix, HP Inc, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Berkshire, Bengaluru

☆ Stocks making the biggest moves in premarket trading: AstraZeneca, Paramount, Nike and more
▼ + stars: | 2023-09-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

AstraZeneca — Shares rose 1.4% after Jefferies upgraded the stock to buy from hold. Dow — Shares of the petrochemicals company rose 1.6% Monday during premarket trading. Chinese e-commerce stocks — U.S.-traded shares of JD.com and PDD Holdings lost 3.1% and 2.3%, respectively, as sentiment around China's economy worsened. HP — Shares of the computer company fell about 3% after Berkshire Hathaway sold 4.8 million shares, or approximately $130 million, of HP. Sealed Air — The food packaging company jumped 2.7% after Citi upgraded shares to buy from neutral.

Persons: Jefferies, Locker, Berkshire Hathaway, Anthony Pettinari, Nio, —, Alex Harring, Jesse Pound Organizations: WGA, Guild of America, SAG, Paramount Studios, AstraZeneca —, Urban Outfitters, Dow —, JPMorgan, Nike, Jefferies, Citi, U.S, PDD Holdings, Media, — Media, Paramount, Warner Bros, Disney, HP —, Berkshire, HP Locations: Los Angeles , California, China, JD.com, U.S

☆ 10 things to watch in the stock market Monday, including Disney, Ford and Amazon
▼ + stars: | 2023-09-25 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

In the week ahead , Club name Costco (COST) reports its quarter after the closing bell Tuesday. The analysts also remove their price target, saying the generative AI narrative is "too positive a force to contend with." Club name Oracle (ORCL) gets a price target cut to $130 per share from $132 at BMO Capital, which keeps market perform (hold) rating. Jefferies downgrades Club name Foot Locker (FL) to hold from buy and cuts price target to $18 per share from $28. Citi lowers price target on Club name Starbucks (SBUX) to $104 per share from $112.

Persons: Jim Cramer, Guggenheim, Morgan Stanley, —, Max, CloudWorld, Jefferies, Jim Cramer's, Jim Organizations: Dow, Nasdaq, Costco, Hollywood, Disney, Paramount, Comcast, Universal, Warner Bros Discovery, Writers Guild of America, Alliance, Television Producers, United Auto Workers, General Motors, Chrysler, Ford, UAW, Ford ., Club, Microsoft, OpenAI, Guggenheim, Apple, Pro, Oracle, BMO Capital, Jefferies, Nike, Citi, Starbucks, Jim Cramer's Charitable, CNBC Locations: Canada

The Writers Guild of America (WGA), which represents roughly 11,500 film and television writers, reached a preliminary three-year deal with major studios on Sunday. While actors remain on strike, late-night and daytime talk shows may resume production once their writers receive the Guild's greenlight to return to work in the coming days or weeks. Film and television producer Todd Garner said he expects that once actors reach a deal, scores of productions will race to restart at once. Major television shows and movies are contractually in first position with actors, Garner said. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.

Persons: David Swanson, Drew Barrymore, Barrymore, Jimmy Fallon, Todd Garner, Garner, " Garner, Walt Disney, Susannah Streeter, Hargreaves Lansdown, Rosenblatt, Barton Crockett, Lisa Richwine, Dawn Chmielewski, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur, Sandra Maler Organizations: Netflix, Writers Guild of America, REUTERS, Hollywood, Guild of America, SAG, Long, Warner Bros Discovery, Comcast, Hargreaves, Paramount, Disney, Thomson Locations: Los Angeles , California, U.S, California, Los Angeles, Bengaluru

Strike signs await striking SAG-AFTRA actors and Writers Guild of America (WGA) outside Disney Studios in Burbank, California, U.S., July 25, 2023. The WGA, which represents 11,500 film and television writers, described the deal as "exceptional" with "meaningful gains and protections for writers." While writing may resume, the SAG-AFTRA actors' union remains on strike. Efforts to restart daytime talk shows without writers, such as "The Drew Barrymore Show," collapsed this month, in the face of criticism from striking writers and actors. Even as studio executives celebrated the end of the longest-running writers' strike since 1988, it is only half the labor battle.

Persons: Mike Blake, Caroline Renard, Hollywood's, Drew Barrymore, Bob Iger, Iger, It's, Brandon K, Hines, Kevin Klowden, David Zaslav, Ted Sarandos, Donna Langley, AFTRA, Dawn Chmielewski, Lisa Richwine, Danielle Broadway, Christopher Cushing Organizations: Writers Guild of America, Disney Studios, REUTERS, WGA, Hollywood, SAG, Alliance, Television Producers, Walt Disney, Netflix, Warner Bros Discovery, Disney, Milken Institute, Reuters, Thomson Locations: Burbank , California, U.S, California, New Mexico, Georgia, New York, Los Angeles

☆ Hollywood’s brief thaw belies a long winter
▼ + stars: | 2023-09-25 | by ( Jennifer Saba | ) www.reuters.com time to read: +4 min

The union representing movie and TV writers tentatively agreed to a new contract on Sunday, setting the stage to end a five-month impasse. Content production is back on the budget line for streaming services. They too want to share in the spoils of a successful movie or TV series on streaming services. Charter now doesn’t have to carry eight Disney networks including FXX and Disney Junior, while Disney also is giving Charter’s customers access to its ad-supported streaming services for no additional charge. The brief thaw belies a long winter.

Persons: Fran Drescher, Duncan Crabtree, Walt Disney, Bob Iger, Ted Sarandos, David Zaslav, Donna Langley, ”, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: SAG, Writers Guild of America, Hollywood, Netflix, Reuters, Guild of America, Walt, Warner Bros Discovery, NBC Universal, Charter Communications, Disney, Disney Junior, WWE, Paramount Global, Paramount, Alliance, Producers, WGA, Thomson Locations: Los Angeles , California, U.S

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