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Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock, and the cable channel Bravo. The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Matt Strauss will become chairman of the NBCUniversal Media Group.
Persons: Mike Cavanagh, ” Cavanagh, , Cavanagh, Mark Lazarus, Anand Kini, Dan Ives, , ” Rich Greenfield, ” Greenfield, Cesar Conde, Conde “, ” Donna Langley, Peacock, Matt Strauss, Mark Woodbury Organizations: Comcast, USA Network, CNBC, MSNBC, SYFY, Golf Channel, NBC, NBC News, NBC Sports, Bravo, Wall Street Journal, Wedbush Securities, LightShed Partners, Wednesday, NBCUniversal, Group, Telemundo, NBCUniversal Entertainment, Studios, NBCUniversal Media, Universal, General Electric, Netflix, Amazon Prime Locations: NBCUniversal
Here are Wednesday's biggest calls on Wall Street: Loop reiterates Nvidia as buy The firm said it's standing by the stock heading into earnings on Wednesday. "We see more upside potential and are moving up our target price to $51 from $30. Pivotal reiterates Netflix as buy Pivotal raised its price target on Netflix to a Street high $1,100 from $925. Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by the stock following the company's Ignite Conference in Chicago on Tuesday. Citi downgrades Target to neutral from buy The firm downgraded the stock following earnings on Wednesday morning and says it's losing share.
Persons: NVDA, hasn't, Bernstein, Robinhood, HOOD, Tyson, Paul, Apple, Goldman Sachs, Goldman, Piper Sandler, Piper, Morgan Stanley, it's, DELL, qtr, Guggenheim, Oppenheimer, JPMorgan Chase, Cava Organizations: Nvidia, Deutsche Bank, Gaming, Leisure Properties, Deutsche, Netflix, Bank of America, Walmart, Microsoft, Adobe, JPMorgan, Dell, of America, Underperform, Trump, Barclays, Newell Brands, Citi, Target, TGT, HSBC Locations: Chicago
He's the author of the FCC chapter of Project 2025, which hopes to cut Big Tech's immunity for content moderation. Carr's stance on Big TechIn his Project 2025 chapter, Carr writes that one of his four main goals for the FCC is "Reining in Big Tech." His interpretation of the section would give Big Tech immunity only against being compelled to take down content. AdvertisementHe proposed that Big Tech firms be compelled to make public their traffic and monetization algorithms, saying they now operate in a "black box." Carr's two other points in his Project 2025 chapter are to increase accountability measures for federal tech programs and to drive hard to develop 5G infrastructure.
Persons: Donald Trump, Brendan Carr, Carr, that's, Trump Organizations: Federal Communications Commission, FCC, Republican, Republicans, Department of Education, Innovators, Big Tech, Communications, Universal Service Fund, China's Locations: America, Big Tech, China, Russia, Iran
Roku's huge underperformance this year has created an attractive buying opportunity for investors, according to Baird. Analyst Vikram Kesavabhotla upgraded the stock to outperform from neutral and hiked his price target by $20 to $90, implying more than 30% upside from Friday's close. "We also believe the continued fragmentation of content and heightened industry focus on monetization/engagement should help magnify the value of ROKU's platform." "Management is also expressing a disciplined approach toward operating expense growth going forward, which should allow ROKU to consistently deliver operating leverage over the coming years," Kesavabhotla added. Among the 32 analysts covering Roku, 17 have a holding rating, LSEG data shows.
Persons: Baird, Vikram Kesavabhotla, ROKU, Kesavabhotla Locations: Roku
Strategist Michael Wilson sees the S & P 500 reaching 6,500 in 2025. The sector is already up 6.8% since the Nov. 5 election, outperforming the other 10 S & P 500 sectors. The benchmark 10-year Treasury note yield is up more than 80 basis points (0.8 percentage point) since the Fed began cutting rates. While Wilson's base case sees the S & P 500 rising to 6,500, his most optmistic bullish scenario takes the benchmark all the way to 7,400 — 26% above Friday's close. However, his initial 2024 S & P 500 target proved too conservative at 4,500.
Persons: Morgan Stanley, Michael Wilson, Wilson, Donald Trump, Baird Organizations: Fed Locations: Washington, Friday's
"We estimate net margins will expand by 78 bp to 12.3% in 2025 followed by a further 35 bp increase to 12.6% in 2026." Heading into this year the Goldman team was too bearish. When it originally set its 2024 forecast last November it called for the index to climb just 5% to 4,700. States the report: "Our economists assume the Trump administration will impose targeted tariffs on imported automobiles and select imports from China. "High multiples are weak signals for near-term returns, but typically increase the magnitude of market drawdown during a negative shock," states the report.
Persons: Goldman Sachs, David Kostin, Goldman, Donald Trump, Trump, Martin Marietta, Stocks Organizations: CNBC Pro, Goldman, Microsoft, Tesla, Electronic Arts, Martin Marietta Materials, Waste Management, Fiverr International, Apple, Adobe, Mastercard, Uber Locations: China
Now, ValueAct has engaged another titan of the market, Meta Platforms, announcing an approximately $1 billion dollar position in the company. With the stock price up about 56% in 2024, ValueAct still sees significant untapped value in Meta. ValueAct has shown at Microsoft and Salesforce that it is very good in helping companies trim fat and build muscle. The AI spending, while concerning to some in the market, can be the muscle that strengthens Meta's core FoA business. It should more than justify Meta's AI spend.
Persons: ValueAct, Mason Morfit, Mark Zuckerberg, OpenAI's GPT, Meta, Martha Stewart Living, Ken Squire Organizations: Reality Labs, Facebook, Microsoft, Meta, RL, Spotify, OpenAI, Adobe, New York Times, Expedia, Century Fox, KKR, 13D Locations: Salesforce
Piper Sandler names Nvidia a top pick The firm said Nvidia is a new top pick. Morgan Stanley reiterates Dell as overweight Morgan Stanley raised its price target on Dell to $154 per share from $136. Morgan Stanley reiterates Nvidia as overweight The firm raised its price target on Nvidia to $160 per share from $150. Wedbush reiterates Tesla as outperform The firm said Tesla remains well positioned. "We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years."
Persons: Wedbush, Piper Sandler, Bernstein, BURL, Morgan Stanley, Dell, DELL, Wolfe, underperform Wolfe, We've, WBD, Blackwell, Cabot, Tesla, Raymond James downgrades Bloomin, Raymond James Organizations: UBS, Vale, Nvidia, Blackwell, Citi, Apple, JPMorgan, Dell, Warner Bros, NBA, Deutsche Bank, Cisco, Orion, Trump White House, Bank of America Locations: China, Burlington, Brazil
AdvertisementSome venture capitalists expect US President Donald Trump to dial back regulation, potentially making it easier to develop new technologies and do business in Silicon Valley. Related VideoWhile many in Silicon Valley dislike Trump, many VCs and startup founders crave more freedom to pursue riskier new technologies unburdened by regulation. E-acc," referring to the recent Silicon Valley movement that wants technological advancements in AI to move as fast as possible, without any guardrails. Regulation has held Silicon Valley back in recent yearsVCs during Biden's presidency have complained about how tough it's been to get deals done. AdvertisementVCs anticipate an innovation boomAmerica is a country of entrepreneurs, and that's especially true in Silicon Valley.
Persons: , Donald Trump, Elon, Ben Narasin, we've, Trump, Musk, cheekily, Vance, Augustus Doricko, Kamala Harris, Aaron Levie, Harris, Mark Pincus, Biden's, Louis Lehot, Foley, Lardner, Lina Khan —, it's, Biden, JD Vance, Khan, Mason Angel, who's, he's, Narasin, Ben Thompson, Rainmaker's Doricko, Angel Organizations: Service, Elon, Venture, White, Department of Government, Zynga, acc, Google, Microsoft, Nvidia, Federal Trade Commission, Department of Justice, Trump, Republican, Big Tech, FTC, SpaceX, Space Force Locations: Silicon Valley, Silicon
The messaging app is fueling Meta's non-advertising revenue growth. That was mostly driven by WhatsApp's business messaging product, which lets companies pay to chat with current or prospective customers. Since the third quarter of 2022, Meta has repeatedly cited WhatsApp business messaging as a key source of revenue growth. AdvertisementGenerative AI could boost the efficiency of Meta's messaging business going forward, Meta CEO Mark Zuckerberg told investors in April. Still, each of Meta's messaging products is distinctly different in who it connects, where people are using it, and how Meta can monetize it.
Persons: , WhatsApp, Meta, Matt Idema, Mark Mahaney, Mahaney, that's, Tom Alison, Mark Zuckerberg, Zuckerberg, Adam Mosseri, Crisan Organizations: Facebook, Meta, Service, Evercore ISI, Business, DMs Locations: Austin , Texas, Messenger
Rivian Chief Software Officer Wassym Bensaid says the future of cars will be hands-free. Related storiesA $5 billion investment from Volkswagen announced in June could help the struggling EV company deliver on its cheapest model yet, the R2, priced at $45,000 and set to launch in 2026. In January, Goldman Sachs analysts said Rivian's software is "a key part of the value proposition and monetization opportunity" for the company. "Software is, really behind the scenes, pervasive throughout the entire company," Bensaid told BI. "And we see Rivian as a tech company.
Persons: Wassym Bensaid, Bensaid, , we're, robotaxis, wasn't, RJ Scaringe, EVs, Scaringe, Kleiner Perkins, Tesla, Rivian, We're, Goldman Sachs Organizations: Service, Business, Rivian, TechCrunch, CSO, EV, Motors, Volkswagen, Tesla Locations: Irvine , California, San Francisco
An outperforming fund manager who previously sold Meta Platforms shares over concerns about the company's virtual reality investments is now bullish on the technology giant's artificial intelligence strategy. This optimistic stance marks a significant shift for Yiu, who revealed that his fund had previously sold out of Meta Platform shares two years ago due to concerns about the company's virtual reality investments. Meta's Reality Labs division, home to the company's virtual reality technologies and projects, took on $13.72 billion in losses in 2022 before Zuckerberg pivoted strategy. Meta is among the top 10 holdings in Yiu's Blue Whale Growth Fund, which itself is up 16.6% in 2024. Yiu's endorsement comes as Meta faces scrutiny over its ambitious AI spending plans, prompting mixed reactions from Wall Street analysts.
Persons: Stephen Yiu, Yiu, CNBC's, Metaverse, Zuckerberg, Meta, Benjamin Black, Black, Nat Schindler, Morningstar, Morningstar's Malik Ahmed Khan, Michael Bloom, Jonathan Vanian, Ari Levy Organizations: Blue, Growth, Meta, Nvidia, Labs, Wall Street, Deutsche Bank
Multiple outlets reported, citing unnamed sources, that a "Game of Thrones" movie is in the works. Warner Bros. Martin first suggested a "Game of Thrones" movie to tie up the franchise in a 2014 interview with The Hollywood Reporter. They grossed $1.8 million at the box office, according to Box Office Mojo. Warner Bros. PicturesA "Harry Potter" TV series reboot was announced last year after the box office failure of the "Fantastic Beasts" spin-off series.
Persons: , aren't, George R.R, Martin, David Benioff, Weiss, Arya Stark, Maisie Williams, Bran Stark, Isaac Hempstead Wright, Sansa Stark, Sophie Turner, HBO Matthias Frey, Shawn Robbins, Robbins, Max, Frey, David Zaslav, Harry Potter, Denis Villeneuve's, Matt Reeves, " Frey Organizations: HBO, Warner Bros, Service, Hollywood, Discovery, Business, Wall Street, Department of Media, Creative Industries, City , University of London, Thrones, Office, Warner Bros ., HBO Warner Bros, Variety
Threads, Meta 's rival to Elon Musk's X app, now has nearly 275 million monthly users, CEO Mark Zuckerberg said Wednesday. The latest numbers indicate Threads is up 175% from a year ago when it reached 100 million users. The app is also up from 200 million monthly actives since Meta's second-quarter report in July. The app is now signing up more than 1 million users per day, Zuckerberg also said on Wednesday. X remains ahead of Threads in terms of users, with research firm Sensor Tower estimating in March that the app had 550 million monthly users.
Persons: Mark Zuckerberg, Elon, Zuckerberg, Musk, Susan Li, We've, Bernstein, they're, Li, Davidson's Luria Organizations: Meta, Twitter, Facebook, Microsoft Locations: Menlo Park , California, U.S, X's U.S
Analysts think there's still room for Meta shares to run, even after the company posted disappointing metrics in its latest quarterly report . Wall Street majors are largely optimistic on Meta over the next year, with most firms assigning a price target that implies at least 5% upside. META remains best early GenAI winner in the group," Morgan Stanley analyst Brian Nowak wrote in a note to clients. Shmulik has a price target on the high range of the Street. "We're constructive on the core business, we believe Meta can continue delivering revenue growth above expectations."
Persons: Bernstein, Goldman Sachs, Morgan Stanley, Brian Nowak, " Nowak, Deutsche Bank's Benjamin Black, Mark Shmulik, Shmulik, Meta Organizations: Meta, Facebook, Wall, Lab, Reality Labs, Bank of America, Barclays, Citi, Deutche, Deutsche, Locations: U.S
Reddit shares soar 40% on profitability, rosy guidance
  + stars: | 2024-10-30 | by ( Ashley Capoot | In | ) www.cnbc.com   time to read: +2 min
Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange on March 21, 2024. Shares of Reddit popped more than 40% on Wednesday, one day after the social media company posted a surprise profit in its third-quarter results and offered rosy guidance. Reddit said fourth-quarter revenue will be between $385 million and $400 million, above the average analyst estimate of $357.9 million. "It was another strong quarter for Reddit and our communities as we achieved important milestones, including new levels of user traffic, revenue growth, and profitability," Reddit CEO Steve Huffman said in a press release. They said they're encouraged by Reddit's strong revenue growth, improved profitability and growing daily active unique users.
Persons: Steve Huffman, Snoo, Reddit, JP Morgan, they're, Bernstein, Jekyll, Hyde, that's, Michael Bloom, Jonathan Vanian Organizations: New York Stock Exchange, LSEG, Citi, JP
Another busy day of megacap technology earnings kicks off Wednesday with results from Meta Platforms and Microsoft after the bell. Wall Street expects Meta Platforms to post third-quarter earnings of $5.25 per share, up from $4.39 a year ago, per LSEG. For Microsoft, EPS and revenue are expected to reach $3.10 and $64.51 billion, respectively, for the fiscal first quarter . Meta Platforms For Meta Platforms, analysts are hunting for signs that AI is continuing to boost the company's core product and advertising spending. Microsoft Microsoft faces a tougher bar headed into the print, with many analysts leaning toward caution as the company lags some of its megacap peers and underperforms the Nasdaq Composite.
Persons: haven't, Davidson, Gil Luria, Citi's Ronald Josey, Citi's Josey, Mark Mahaney, Barton Crockett, Mark Shmulik, Bank of America's Justin Post, Keith Bachman, Citi's Tyler Radke, Morgan Stanley's Keith Weiss, Weiss, Goldman Sachs, Kash Rangan, Azure's Organizations: Meta, Microsoft, D.A, Revenue, Google, Bank of America's, Microsoft Microsoft, Nasdaq, BMO Capital Markets, BMO
The company saw a 68% revenue increase and a 47% rise in daily active visitors in Q3. Reddit's third-quarter revenue soared 68% to $348.4 million from a year ago, comfortably beating analysts' expectations of $312.8 million. This positive net increase was consistent with its second-quarter results, during which the platform saw a 51% increase in daily active users globally. Elon Musk's X reported 1.6% growth in daily active users in 2024's second quarter, per the FT. The daily active users on all of Meta's platforms combined, which include Facebook, Instagram, and Threads, increased by 7%, according to its second-quarter earnings report.
Persons: , Steve Huffman, Huffman, Reddit, AMAs, Elon Musk's, Jefferies, RDDT Organizations: Service, Analysts, Global, Elon, Facebook, New York Stock Exchange Locations: Spanish
Don't let the after-hours stock action fool you, Meta Platforms delivered one heck of a strong third quarter and a current quarter revenue guide above expectations. Ok, now that the "bad" is out of the way, let's look at what investors should really be focused on as they consider what to do with Meta stock. Meta Platforms Why we own it : We value Meta Platforms for its targeted advertising dominance. Notably, Meta AI, the company's version of a ChatGPT-type generative artificial intelligence search/answer engine, now has over 500 million monthly active users. Looking ahead to 2025, the team noted on the release, "We continue to expect significant capital expenditures growth in 2025.
Persons: biggie, that's, China's ByteDance, Mark Zuckerberg, Jensen Huang, Zuckerberg, we're, Meta, it's, haven't, Jim Cramer's, Jim Cramer, Jim, Andrej Sokolow Organizations: LSEG, Meta, People, Management, China's, Reality Labs, Nvidia, ., Facebook, CNBC, Getty Locations: Ray, capex
CFRA trimmed its Amazon price target to $219 a share on October 21, indicating 13% upside ahead. The firm has a "buy" rating on the stock and a $210 price target, which implies an 8.3% gain from current levels. The firm said investors have toned down margin expectations due to Amazon's spending in new investment areas, such as Project Kuiper. AdvertisementWedbush reiterated its "outperform" rating and $225 price target, implying a 16% gain from current levels. Morgan Stanley has a $210 price target for the stock, representing upside of about 8% from Wednesday's share price.
Persons: , Arun Sundaram, Sundaram, Justin Post, BofA, Scott Devitt, Wedbush, Morgan Stanley, Bullish, Brian Nowak Organizations: Service, CFRA, Bank of America, Amazon Web Services, 3Q, JPMorgan, Wedbush Securities
"We believe we are still in the early stages of the AI growth story," UBS equity strategist Sundeep Gantori wrote in a Monday note to clients, noting the launch of ChatGPT in 2022 as an inflection point for AI adoption. "The company should benefit from healthy user engagement, improving monetization of Reels, and longer-term monetization of Instagram and WhatsApp offer longer-term opportunities," UBS wrote. Moving forward, UBS sees a favorable risk/reward profile for the name, citing steady iPhone growth and strong growth in its services, among others, as catalysts. UBS thinks this early adopter of AI applications is still "well placed" to benefit from use cases that are relevant to the industry. "While we agree that rising competition will result in some subscriber churn, we expect Netflix to continue to report strong growth globally."
Persons: Sundeep Gantori, Gantori, AAPL, INTC Organizations: UBS, Nvidia, Reality Labs, Apple, Intel, Apple Intelligence, Netflix
Wells Fargo sees outperformance from Spotify ahead. These are all the components of a premium growth stock." "We think SPOT is viewed as a positive actor due to its investments in [user interface] and cont'd sub growth," the analyst said. "More likely, we think SPOT and its Label partners could look to find new avenues of monetization, which might incl. SPOT YTD mountain SPOT, year-to-date The stock moved nearly 1% after Cahall's call.
Persons: Wells, Steven Cahall Organizations: Spotify
A slate of overweight-rated tech stocks are worth buying ahead of earnings, Morgan Stanley said. Microsoft Morgan Stanley analyst Keith Weiss is sticking with the tech giant ahead of earnings. Indeed, Microsoft shares are up nearly 14% in 2024, but the firm said the stock is too attractive to ignore at current levels. Apple The firm is also standing by its top pick Apple ahead of quarterly earnings on Oct. 31, despite reports of mixed iPhone 16 demand. "We expect Apple to post a strong Sept Q top- and bottom-line beat," he added.
Persons: Morgan Stanley, Microsoft Morgan Stanley, Keith Weiss, GenAI monetization, Weiss, Atlassian Weiss, Erik Woodring, Woodring, billings Organizations: CNBC, Fortinet, Microsoft, Apple, Gross, TEAM, Apple Intelligence, Locations:
Live Nation Entertainment's efforts to develop venues are an additional growth driver for an already strong company, according to JPMorgan. The firm reiterated an overweight rating on the entertainment stock and raised its price target to $137 per share from $118. "A global leader in live entertainment, ticketing, and talent management services, we see Live Nation as a multi-year free cash flow growth story supported by a management team focused and compensated on continued monetization of artist, tour, and venue content," the analyst added. Of the 22 covering the stock, 18 have either a buy or strong buy rating on it, per LSEG. LYV YTD mountain LYV year to date
Persons: David Karnovsky Organizations: JPMorgan, Investment, Ticketmaster
Matt Steiner Leads Meta's AI Ads Resurgence
  + stars: | 2024-10-24 | by ( Lara O'Reilly | ) www.businessinsider.com   time to read: 1 min
Steiner is Meta's vice president of monetization infrastructure, ranking, and AI foundations. AI and machine learning have been key to Meta's recent resurgence, particularly in areas like ad targeting and measurement that were hampered by Apple's 2021 privacy update. His team works on innovations like large AI models that can support multiple inputs and prediction outputs across different advertiser goals, like clicks or sales. It's also integrating AI into Meta's self-service Ads Manager product to help advertisers drive better performance. Meta said in July that more than 1 million advertisers had used at least one of its generative AI ad features in the past month.
Persons: Steiner, Meta
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