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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
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
The very rich are often bad investors. Here’s why
  + stars: | 2023-09-25 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +8 min
But there are only about 730 billionaires in the country, according to Forbes, and almost none of them inherited longstanding generational wealth. In fact, less than 10% of the current list of billionaires are descended from anyone on the first Forbes’ rich list, published in 1982. If you get the “What?” decision wrong and the sizing decision right, it’s still unfortunate and you’re going to lose money. Every year there’s going to be volatility — one year you’re going to be up 35% and the next year you’re going to be down 25%, but in the long term it will even out to 5%. The current walkout came close to beating the longest strike in WGA history, a 1988 strike that lasted 154 days.
Persons: New York CNN —, Forbes, Victor Haghani, , James White, Haghani, LTCM, CNN’s, it’s, you’re, Cornelius Vanderbilt, Chris Isidore, Oliver Darcy, Laura He Organizations: CNN Business, Bell, New York CNN, Forbes, Elm Partners, Term Capital Management, Federal Reserve, Vanderbilt, Writers Guild, Writers Guild of America, WGA Locations: New York, United States, Russia, Hollywood, China, Beijing
Hollywood’s bitter, monthslong labor dispute has taken a big first step toward a resolution. The Writers Guild of America, which represents more than 11,000 screenwriters, reached a tentative deal on a new contract with entertainment companies on Sunday night, all but ending a 146-day strike that has contributed to a shutdown of television and film production. Conspicuously not doing a victory lap was the Alliance of Motion Picture and Television Producers, which bargains on behalf of studios. “The W.G.A. have reached a tentative agreement” was its only comment.
Persons: Hollywood’s, Guild’s Organizations: Guild of America, Alliance, Television Producers
Tentative writers deal: What's next for the media stocks
  + stars: | 2023-09-25 | 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 EmailTentative writers deal: What's next for the media stocksLaura Martin, Needham senior analyst, joins 'The Exchange' to discuss what Hollywood writers' tentative deal with studios to end strike means, how media stocks will play out, and more.
Persons: What's, Laura Martin, Needham Organizations: Hollywood
Hollywood Writers Reach Tentative Deal With Studios to End Strike
  + stars: | 2023-09-25 | by ( ) www.wsj.com   time to read: 1 min
Why Cities Like New York Are Adopting Congestion TollsNew Yorkers lose an average of 117 hours a year in traffic according to the MTA. Now, New York City is turning to congestion tolls to help unclog its roads. WSJ’s George Downs explores if these tolls actually reduce traffic and whether other U.S. cities will adopt them. Illustration: George Downs/The Wall Street Journal
Persons: George Downs Organizations: MTA, Street Locations: New, , New York City
Pecans were a cash crop for my grandparents, who supplemented their unreliable farm income in any way they could. Unlike peanuts, the farm’s primary crop, pecans required no planting and almost no care, and they paid out every year so long as someone picked them up before the squirrels got there first. I was astonishingly old before I learned that pumpkins are food. The first year I was in graduate school there, a vine with large, squash-like leaves popped up in my raised beds. They were small, dense, pie pumpkins, apparently planted by the neighborhood squirrels.
Persons: Pecans Locations: Lower Alabama, South Carolina
Watch CNBC’s full interview with Needham’s Laura Martin
  + stars: | 2023-09-25 | 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 Needham’s Laura MartinLaura Martin, Needham senior analyst, joins 'The Exchange' to discuss what Hollywood writers' tentative deal with studios to end strike means, how media stocks will play out, and more.
Persons: Needham’s Laura Martin Laura Martin, Needham Organizations: Hollywood
In what lasted for almost five months, the writer's strike has seemingly reached an end. In the last writers strike, in 2008, board members voted two days after a deal was reached, and members voted two days after that. AdvertisementAdvertisementWhen will writers return to work and shows return? The studios that make up the AMPTP opted to finish a deal with writers — who went on strike two months earlier — before even beginning to deal with actors. It was three months into the writers strike before the AMPTP reached out to begin negotiations, and the initial talks sputtered after a just a few days.
Persons: , Jimmy Fallon, Jimmy Kimmel, Stephen Colbert, Drew Barrymore Organizations: Guild of America, Hollywood, Service, Alliance, Television Producers, WGA, SAG, WGA —, Guild
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHollywood can resume production around Thanksgiving in best case scenario, says Puck's Matt BelloniMatt Belloni, Puck founding partner, joins 'Squawk Box' to discuss the end of the Hollywood writers strike, after the WGA and studios reached a tentative deal last night, what it means for the actors' strike, production, and more.
Persons: Matt Belloni Matt Belloni, Puck Organizations: Hollywood, WGA
The Hollywood Strike Deal Is a Mixed Blessing For Studios
  + stars: | 2023-09-25 | by ( ) www.wsj.com   time to read: 1 min
A tentative deal between the Writers Guild of America and the Alliance of Motion Picture and Television Producers was announced Sunday night. The deal is still being finalized and will need to be ratified by union members, and a separate deal still needs to be reached with the Screen Actors Guild before production on most TV shows and movies can resume. But the agreement was still a notable breakthrough following five months of acrimony—and long stretches of the two sides not even talking.
Organizations: Writers Guild of America, Alliance, Television Producers, Screen
PBS acquired the docuseries “ Becoming Frida Kahlo,” about the artist, to replace it and it premiered last week. Political Cartoons View All 1179 ImagesPBS has also bought a few more scripted series that were made outside of the U.S., she said. Most of them are aimed at PBS' streaming service, although the Danish series “Seaside Hotel” has aired on the television network. A British drama about the lives of people fighting World War II, “World on Fire,” is premiering its second season in October. Other scripted series are on the docket, including “Unforgotten,” “Van Der Valk,” and “Little Bird,” the latter about an adopted woman who tries to investigate her personal history.
Persons: Ken Burns, , Paula Kerger, John Leguizamo, Kerger, Frida Kahlo, Burns, Jerry Brown, Floyd Abrams, Max Roach, , Vladimir Putin's, Nova, “ Unforgotten, Van Der Valk Organizations: PBS, Hollywood, Public Broadcasting Service, , Elon Musk's, Twitter, Houston Astros, Associated Press Locations: American Buffalo, U.S, Danish, , Boston, Elon, Mariupol
Brian Cox spoke with the BBC about his thoughts on Rupert Murdoch stepping back from chair of News Corp.Cox recounted how Murdoch's son-in-law once asked if the "Succession" writers could "be a bit nicer." Cox, who played a character inspired by Murdoch, criticized the tycoon's ability to "manipulate" politics. Murdoch announced last Thursday he was stepping down from running Fox and News Corp, and handing the reins to his eldest son, Lachlan Murdoch. "I think he's been watching too much 'Succession,' clearly," Cox joked of Murdoch's decision, in the BBC interview. "He's probably the most tenacious human on God's earth," Cox said of Murdoch.
Persons: Brian Cox, Rupert Murdoch, Cox, Murdoch's, Murdoch, Lachlan Murdoch, didn't, Jerry Hall, , Logan Roy, Elisabeth Murdoch, Rupert Murdoch's, Tony Blair, David Cameron, Rishi Sunak, He's Organizations: BBC, News Corp, Service, Fox, 9AM, Daily Telegraph, Corp Locations: Wall, Silicon, Scottish
What the Hollywood Writers’ Deal Means
  + stars: | 2023-09-25 | by ( Whet Moser | ) www.nytimes.com   time to read: +1 min
Hollywood writers reached a deal to end their strikeThe Writers Guild of America, which represents more than 11,000 screenwriters, could begin finalizing a deal on a new contract with entertainment companies as soon as tomorrow. The 146-day strike all but ended after the two sides reached a tentative deal on Sunday night. SAG-AFTRA and the studios have not spoken in more than two months, and no talks are scheduled. But the prospective writers’ deal should provide a blueprint for the actors, since many of their demands are similar. The tentative deal came after several senior company leaders joined the talks directly — among them Robert Iger, Disney’s chief executive; Ted Sarandos, Netflix’s co-chief executive; and David Zaslav, who runs Warner Bros.
Persons: Robert Iger, Ted Sarandos, Netflix’s, David Zaslav Organizations: Guild of America, SAG, Warner Bros .
The Writers Guild of America reached a tentative agreement with Hollywood studios on Sunday. AdvertisementAdvertisement"The WGA and AMPTPT have reached a tentative agreement," the AMPTP email said; the WGA's version was typo-free. The tentative agreement comes after the guild and the AMPTP — which represents major studios and streaming services, including Warner Bros. They were joined on the picket lines by over 160,000 union members of SAG-AFTRA, the actors' union, on July 14. Broadcast networks' fall TV schedules were loaded with reality series, whose writers aren't subject to the WGA agreement.
Persons: Bob Hopkinson, Netflix —, they've, Alex O'Keefe, O'Keefe, Keefe, Drew Barrymore, Barrymore, Insider's Reed Alexander, Alison Brower, TUSC Organizations: Guild of America, Hollywood, WGA, Service, Alliance, Television Producers, Warner Bros, Disney, Netflix, SAG, Guild, Union Solidarity Coalition Locations: Wall, Silicon
DETROIT (AP) — Ford Motor Co. said Monday that it's pausing construction of a $3.5 billion electric vehicle battery plant in Michigan until it is confident it can run the factory competitively. The move comes as the company is in the midst of national contract talks with the United Auto Workers union, which wants to represent workers at battery factories and win them top wages. In February, Ford announced plans to build the plant in Marshall, Michigan, employing about 2,500 workers to make lower-cost batteries for a variety of new and existing vehicles. But Ford spokesman TR Reid confirmed Monday that plant construction has been paused and spending has been limited on it. Earlier this year Virginia dropped out of the race for the same Ford plant after Republican Gov.
Persons: , Ford, Marshall, TR Reid, , Shawn Fain, Sarah Lightner, Ford “, , ” Lightner, Sam Abuelsamid, Abuelsamid, Biden, Glenn Youngkin, Joey Cappelletti, David Koenig Organizations: DETROIT, — Ford Motor, United Auto Workers union, UAW, Ford, Detroit, General Motors, EV, Amperex Technology, . Ltd, Republican State Rep, Guidehouse, Republican Gov, Chinese Communist Party, ____ Associated Press Locations: Michigan, Marshall , Michigan, Detroit, Marshall, China, U.S, Virginia, Lansing , Michigan, Dallas
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Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/media/hollywood-writers-reach-agreement-with-studios-streamers-to-end-strike-57fb5dd
Persons: Dow Jones
Videos from social media showed riverfront communities in North Carolina such as New Bern, Belhaven and Washington experiencing significant flooding. Tens of thousands of North Carolina homes and businesses remained without electricity across several eastern counties as of Saturday afternoon, according to poweroutage.us, which tracks utility reports. A Duke Energy map showed scattered power outages across much of eastern North Carolina, as winds toppled tree limbs and snagged power lines. Brian Haines, a spokesperson for the North Carolina Division of Emergency Management, said there were reports of downed trees but no major road closings. The governors of North Carolina, Virginia and Maryland each declared a state of emergency on Friday.
Persons: Ophelia, Philippe Papin, Papin, Jeff Brooks, WTVD, Brian Haines, Carl Cannon Jr, Cannon Jr, , Michael Brennan, , ” Brennan, Lee, Aaron Montgomery, ___ Mattise, Jackie Quinn, Ron Todt, Sudhin, Christopher Weber Organizations: U.S, National Hurricane Center, Coast Guard, Duke Energy, North Carolina Division, Emergency Management, Beaufort Pirate, AP Radio Locations: ANNAPOLIS, Md, North Carolina, Virginia, Richmond , Virginia, Charlottesville , Virginia, Delmarva, New Jersey, Jersey, Sea Isle City, New York, New England, East Coast, Emerald Isle , North Carolina, New Bern, Belhaven, Washington, Lookout Bight, Cape Lookout , North Carolina, North, Banks, Beaufort, , Maryland, Boston , New York City, Williamsburg , Virginia, Virginia Beach, Nashville , Tennessee, Philadelphia, Atlanta, Los Angeles
LOS ANGELES (AP) — Union leaders and Hollywood studios reached a tentative agreement Sunday to end a historic screenwriters strike after nearly five months, though no deal is yet in the works for striking actors. The Writers Guild of America announced the deal in a joint statement with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and production companies in negotiations. “WGA has reached a tentative agreement with the AMPTP,” the guild said in an email to members. The tentative deal to end the last writers strike, in 2008, was approved by more than 90% of members. In that walkout, the writers strike started first and ended second.
Persons: , would've, NBC’s, Jimmy Fallon ”, ABC’s “ Jimmy Kimmel, AFTRA, , Bob Iger, Ted Sarandos, David Zaslav, Donna Langley, NBCUniversal, Los Angeles Mayor Karen Bass, Gavin Newsom, Netflix's, ABC's, Drew Barrymore, Bill Maher ” Organizations: ANGELES, — Union, Hollywood, Guild of America, Alliance, Television Producers, WGA, Screen, American Federation of Television, Radio, Crew, SAG, Disney, Netflix, Warner Bros ., Los Angeles Mayor, California Gov, Writers Guild of America Locations: Hollywood
While the agreement still needs to be ratified by members of WGA, which represents more than 11,000 writers, this marks a significant turning point in the nearly five-month-long strike. The current walkout came close to beating the longest strike in WGA history, a 1988 strike that lasted 154 days. “But we are, as of today, suspending WGA picketing.” The Guild encouraged members to join the picket line for the actors’ strike instead this week. One person close to the matter said that, as a result, writers could potentially be back to work in just days. People familiar with the matter on Sunday night voiced optimism the studios’ agreement with the writers will also allow it to reach a deal with the actors.
Persons: Organizations: Los Angeles CNN, Writers Guild of America, WGA, SAG, Hollywood, Industries, Empire State Development Locations: Hollywood, New York
LOS ANGELES (AP) — Sylvester Stallone and Jason Statham weren't enough to save “ Expend4bles ” from a debut box office flop. The Lionsgate and Millennium's film, also known as “Expendables 4,” pulled in a mediocre $8.3 million for the big-budget project. It starred several popular names, including Stallone, Statham, Curtis “50 Cent" Jackson, Megan Fox and Dolph Lundgren. It's been nearly a decade since the franchise released a film, which opened with $15.8 million and eventually grossed $214 million globally. But times have certainly changed, as the film barely placed second behind “The Nun 2," a horror movie that earned $8.4 million in its first week.
Persons: — Sylvester Stallone, Jason Statham weren't, , , Comscore, Stallone, Statham, Curtis “, Jackson, Megan Fox, Dolph Lundgren, It's, Michael Chaves, Venice ”, Kenneth Branagh’s, Agatha Christie, Denzel Washington, “ Barbie, Greta Gerwig, “ Oppenheimer, Christopher Nolan Organizations: ANGELES, Lionsgate, Warner Bros, Orient Express, Sony, GameStop, American Federation of Television, Radio Artists, Writers Guild of America Locations: Venice
Talk Modern Masculinity Is Broken. Now, with her new book, “What About Men?” Moran turns her eye to what she sees as the limited and limiting discussions around modern masculinity. If I’m going to start talking about a difficult idea, I want to approach it in the most successful way possible. Part of the framing of your book is that there’s not enough discussion about young men’s struggling to adapt to changing ideas about masculinity. Men going: “Our lives have gotten materially worse since women started asking for equality.
Persons: Caitlin Moran, Moran, ” Moran, , men’s, Beanie Feldstein, Caitlin Moran’s, you’ve, we’re, David Marchese, Alok Vaid, Menon, ordinariness, Joyce Carol Oates, Robert Downey Jr Organizations: The Times, IFC Films, Everett, The New York Times, WENN Rights, Marvel Locations: London
Here's a look at the steps to come for writers, and for the actors whose strike continues. In the last writers strike, in 2008, board members voted two days after a deal was reached, and members voted two days after that. But while the show's joke writers will be free to return, many of their usual guests will not, with the ongoing actors strike bringing limits on such appearances. HOW LONG WILL THE ACTORS STRIKE LAST? It was three months into the writers strike before the AMPTP reached out to begin negotiations, and the initial talks sputtered after a just a few days.
Persons: Jimmy Fallon, ” ABC's, Jimmy Kimmel, Stephen Colbert ”, Drew Barrymore, Severance, ABC's “, Organizations: ANGELES, FIRST, Hollywood's, Writers Guild of America, Alliance, Television Producers, Hollywood, WGA, Screen, American Federation of Television, Radio Artists, Guild, Apple, ABC's “ Abbott, SAG Locations: hollywood
The iconic Hollywood sign is shown in early morning light in Los Angeles, California, U.S., July 13, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 23 (Reuters) - Negotiators for the striking Writers Guild of America (WGA) and Hollywood studios will meet again on Sunday after a fourth day of talks failed to reach a deal. Writers walked off the job in early May after negotiations failed to agree on compensation, minimum staffing of writers' rooms, the use of artificial intelligence and residuals that reward writers for popular streaming shows. The SAG-AFTRA union, comprising 160,000 members from actors to stunt performers, joined the writers in July, calling for a work stoppage and putting Hollywood into two simultaneous strikes for the first time in 63 years. Reporting by Urvi Dugar in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons: Mike Blake, Walt Disney, Urvi, William Mallard Organizations: REUTERS, Guild of America, Hollywood, WGA, Alliance, Television Producers, Netflix, SAG, Thomson Locations: Los Angeles , California, U.S, Bengaluru
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