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Netflix 's valuation may not be able to withstand falling growth expectations, according to Wolfe Research. Analyst Peter Supino downgraded the streaming service to peer perform from outperform. However, he said he has growing concerns about the company's 2024-2025 growth forecasts. "If future growth falls short, we doubt that NFLX's 50% P/E and 70% EV/EBITDA premium to the S & P would hold up," Supino said in a Friday note. "At today's valuation, Netflix needs to show a virtuous cycle of content, engagement, subs & pricing for shares to appreciate.
Persons: Peter Supino, Supino, Spencer Neumann, — Michael Bloom Organizations: Netflix, Wolfe Research, CY23E
And right now that leverage is around migration,” said Andrew Selee, the president of the nonpartisan Migration Policy Institute. Members of the Mexican National Guard stand on the border between Mexico and Guatemala to prevent the crossing of migrant caravans on October 21, 2022. “The Mexico southern border pretty much was the US southern border,” Meyer said. “What we are looking for is to reach an agreement to confront the migration phenomenon by addressing the causes,” López Obrador said at a news conference. US Secretary of State Antony Blinken is expected to travel to Mexico this week along with other cabinet secretaries and meet with López Obrador.
Persons: Biden, , Andrew Selee, Stringer, George W, Bush, Vicente Fox, Maureen Meyer, ” Meyer, Andrés Manuel López Obrador, Donald Trump, López Obrador, Alicia Bárcena, Bárcena, ” López Obrador, Elizabeth Sherwood, Randall, Antony Blinken, ” Selee, Lopez Obrador, “ López, Arturo Sarukhán, López Obrador’s, Critics, Ned Price, Blinken, ” Price, ” Sarukhán, , Organizations: Mexico City CNN, Ciudad, Mexican, Institute, Mexican National Guard, Getty, Washington Office, US, Washington, CNN, Bloomberg, United Nations, Refugees, Mexican Supreme, State Department, White Locations: Mexico, Washington, Guatemala, AFP, Central America, Caribbean, America, United States, Honduras, El Salvador, Ecuador, Venezuela, Colombia, El Paso , Texas, Nicaragua, Cuba, Costa Rica, Mexican
Sales of previously owned homes fell 0.7% in August from July to a seasonally adjusted, annualized rate of 4.04 million units, according to the National Association of Realtors. "Mortgage rate changes will have a big impact over the short run, while job gains will have a steady, positive impact over the long run." There were just 1.1 million units for sale at the end of August, down 0.9% for the month and down just more than 14% year over year. Sales continue to be weakest on the lower end of the market, where there is the least supply. "This is true not only in tech hubs like Austin and San Francisco, but also affordable markets like Columbus, Ohio."
Persons: Lawrence Yun, Yun, Danielle Hale Organizations: National Association of Realtors, NAR, Homeowners, It's Realtors Locations: Arlington , Virginia, Austin, San Francisco, Columbus , Ohio
Facing fares row, Ryanair hit by new antitrust probe in Italy
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +2 min
Ryanair said on Wednesday that internal Italian flights to Sicily would be cut by 10% in its latest winter schedule, blaming the government's planned price cap. Eddie Wilson, the chief executive of Ryanair DAC, the biggest airline in the Ryanair group, said the airline opposed the measure despite the modification. During a visit to Sicily, Wilson contrasted Ryanair's expansion of foreign flights to and from the island with the reduction on domestic routes. "Italian domestic growth has sadly been negatively impacted by the Italian government's unlawful price cap decree to restrict airlines’ freedom to set low air fares," Wilson said in a statement. Ryanair has already reduced its domestic schedule for flights to Sardinia over the winter.
Persons: International Eleftherios Venizelos, Alkis, Eddie Wilson, Wilson, Alvise Armellini, Keith Weir, Cristina Carlevaro, Jason Neely, Barbara Lewis Organizations: Ryanair, Company, Europe's, International Eleftherios, REUTERS, Ryanair DAC, Thomson Locations: Italy, Sicily, ROME, Athens, Greece, Sardinia
A change may be coming to your streaming services, Warner Bros. The services have been undervalued, Gunnar Wiedenfels said, and "quality content has been given away"That could spell price hikes. AdvertisementAdvertisementAs Insider's Matt Turner summed up: "Streaming services have been underpriced in the name of attracting critical mass." In January, Warner Bros Discovery increased the price of an ad-free subscription to HBO Max for the first time since its launch in 2020. Aside from boosting prices, services are also cracking down on password sharing.
Persons: Gunnar Wiedenfels, Wiedenfels, Max —, Matt Turner, Comcast's Peacock, Max, Peacock, Mark Schilsky, HBO Max, we're, Bob Iger, Schilsky Organizations: Warner Bros, Discovery, Service, Bank of America Securities Media, Communications, Entertainment Conference, Netflix, Hulu, Disney, Paramount, Apple, Bernstein Research, Warner Bros Discovery, HBO, HBO Max, Wall Street Journal Locations: Wall, Silicon, Hollywood
Morning Bid: Dot plots, oil blots and auto strikes
  + stars: | 2023-09-18 | by ( ) www.reuters.com   time to read: +4 min
A nighttime view of Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, diesel fuel, and other refined petroleum products, in Carson, California, U.S., March 11, 2022. But updated quarterly economic and rate projections from its individual policymakers will map out the remainder of the year and 2024. And just like global markets have been discombobulated this month, the central bank will be grappling with low visibility and a plethora of mixed signals. Chief among the irritants for the central banks has been the rebound in crude oil price and the fading annual base effects that have flattered headline disinflation progress this year. Events to watch for on Monday:* U.S. September NAHB Housing Market Survey, July TIC data on foreign holdings of U.S. Treasuries* U.S. Treasury auctions 3- and 6-month bills* European Central Bank Board Member Fabio Panetta speaksReuters Graphics Reuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsReuters Graphics Reuters GraphicsBy Mike Dolan, editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
Persons: Bing Guan, Mike Dolan Gatecrashed, That's, Detroit's, Taiwan's, TW, chipmaker, Member Fabio Panetta, Mike Dolan, Bernadette Baum Organizations: Petroleum's, Angeles Refinery, REUTERS, U.S . Federal, Bank of England, Bank of Japan, University of Michigan's, automakers, United Auto Workers, General Motors, Ford, chipmakers, China, HK, Survey, Treasury, Central Bank, Member, Reuters Graphics Reuters, Reuters, Thomson Locations: Angeles, Carson , California, U.S, Saudi, China
Price growth for US homes bounced back this summer from its lowest level in over a decade, according to a new report from real estate data provider CoreLogic. Rising mortgage rates have hurt mortgage demand. 10 undervalued markets for homebuyers to look in nowIn addition to sharing their latest Home Price Index report, CoreLogic also shared exclusive data with Insider about which US housing markets are most undervalued right now. Below are 10 undervalued metropolitan areas in the US, according to CoreLogic, along with each's home price index change from the last 12 months as of July and forecasted home price index change. The cities are listed in descending order by expected home price index change.
Persons: Price, Selma Hepp, Hepp, CoreLogic Organizations: Mortgage, New, West : Locations: California , Washington, Massachusetts, Miami , Florida, St, Louis , Missouri, Detroit , Michigan, Northeast, Vermont, New Hampshire, New Jersey, West, West : Idaho, Nevada, Montana, Washington, Arizona, Utah, Oregon, Colorado, Texas, Wyoming, California, CoreLogic
We'll also guide you step-by-step on how to use a VPN to watch UFC 293, no matter where you are. How to watch UFC 293 in the USUS viewers can watch the main event of UFC 293 on ESPN Plus tonight at 10 p.m. Ways to save on the UFC 293 pay-per-view priceIf you're not already a member and plan to sign up for ESPN Plus to watch UFC 293, you can take advantage of a discounted package. How to watch UFC 293 everywhere elseIf you're not in the US, you still have a few options to watch UFC 293. In Canada, UFC 293 will be available as a pay-per-view through most TV providers and directly via UFC Fight Pass.
Persons: Israel Adesanya, Sean Strickland, Strickland, Tai Tuivasa, Alexander Volkov, We'll, McGregor, ExpressVPN, CEST, Felipe Dos Santos, Justin Tafa, Austen Lane, Tyson Pedro, Anton Turkalj, ESPN Plus Carlos Ulberg, Da Woon Jung, Jack Jenkins, Chepe Mariscal, Jamie Mullarkey, John Makdessi, Landon Quinones, Charles Radtke, Shane Young, Gabriel Miranda, Kevin Jousset, Kiefer Crosbie Organizations: UFC, ESPN Plus, ESPN, Amazon, Apple, PlayStation, Samsung, TNT Sports, BT, BT Sport, You'll, LG, AEST, ESPN Plus Israel, ESPN Plus Carlos Locations: Canada, Australia, New Zealand, Germany, Italy, Spain, Poland, Switzerland, Asia, Africa, Brazil
Former Treasury chief Larry Summers got panned for posting a graph suggesting US inflation could be tracing the same path now as in the 1970s. Nobel laureate Paul Krugman said the chart was "problematic on many fronts", adding the 1970s story was different. Market veteran Jim Bianco slammed the post as "chart crime", pointing out scale and calculation inconsistencies. In another post, Summers urged the Federal Reserve to reject suggestions that inflation is "securely under control." "Lots of people beating up on Larry Summers over his chart making recent disinflation look just like the mid-70s disinflation, which reaccelerated.
Persons: Larry Summers, Nobel, Paul Krugman, Jim Bianco, Summers, Bianco Organizations: Treasury, Service, Federal Reserve, Bianco Research Locations: Wall, Silicon
Learn moreAljamain Sterling and Sean O'Malley will meet inside the octagon for a UFC 292 main event to decide the UFC Bantamweight champion. We'll also guide you step-by-step on how to use a VPN to watch UFC 292, no matter where you are. How to watch UFC 292 everywhere elseIf you're not in the US, you still have a few options to watch UFC 292. In Canada, UFC 292 will be available as a pay-per-view through most TV providers and directly via UFC Fight Pass. UFC 292 Fight Card: Sterling vs. O'MalleyMain Card — 10 p.m.
Persons: Sterling, Sean O'Malley, We'll, Zhang Weili, Amanda Lemos, CEST, McGregor, ExpressVPN, O'Malley, Women's, Neil Magny, Ian Machado Garry, Da'mon, Mario Bautista, Marlon Vera, Pedro Munhoz, Chris Weidman, Brad Tavares, Gregory Rodrigues, Denis Tiuliulin, Austin Hubbard, Kurt Holobaugh, Brad Katona, Cody Gibson, Andre, Gerald Meerschaert, Andrea Lee, Natalia Silva, Karine Silva, Maryna Organizations: UFC, ESPN, ABC, TNT Sports, Amazon, Apple, PlayStation, Samsung, BT, BT Sport, You'll, LG, AEST, Sterling Locations: Canada, Australia, New Zealand, Germany, Italy, Spain, Poland, Switzerland, Asia, Africa, Brazil
Disney announced higher prices for its streaming services, and Wall Street is loving it. The entertainment company hiked prices for Disney+, Hulu, and ESPN by almost 30%. Here's what Wall Street is saying about Disney's price hikes and 3rd-quarter earnings results. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Here's how Wall Street reacted to Disney's earnings report and streaming price hikes.
Persons: Disney, Goldman Sachs, JPMorgan Organizations: Disney, ESPN, Service, Hulu, Bank of America, PENN, ESPN BET, " Bank of America, JPMorgan Locations: Hulu, Wall, Silicon, Parks
[Loud laborers] ... may crave attention and love to hear themselves talk even when it was nothing extraordinary, they were simply doing their jobs. "Loud laborers are often quite politically savvy and are very active on professional social networks, where they publicize their tasks and achievements," she added. Why some focus on 'visibility'Why do loud laborers exist? What you can do about loud laborersWhile loud laborers in the workplace may be irksome, it is important to set boundaries as best you can, said Salemi. For Price, loud working is persistent in a workplace because such behavior has been rewarded or validated by leadership.
Persons: you've, André Spicer, Nicole Price, Vicki Salemi, Price, Salemi, bode Organizations: Bayes Business, CNBC
You'll want to know how to watch the UFC 291 live stream tonight, July 29. We'll also guide you step-by-step on how to use a VPN to watch UFC 291, no matter where you are. If you're not in the US, you still have a few options to watch UFC 291. In Canada, UFC 291 will be available as a pay-per-view through most TV providers and directly via UFC Fight Pass. UFC 291 Fight Card: Poirier vs. Gaethje 2Main Card — 10 p.m.
Persons: Dustin Poirier, Justin Gaethje, Poirier, Gaethje, Jan Blachowicz, Alex Pereira, We'll, CEST, McGregor, ExpressVPN, Stephen Thompson, Michel Pereira, Tony Ferguson, Bobby Green, Michael Chiesa, Kevin Holland, Gabriel Bonfim, Trevin Giles, Derrick Lewis, Marcos Rogerio De Lima, Claudio Ribeiro, Jake Matthews, Darrius, CJ Vergara, Vinicius Salvador, Matthew Semelsberger, Uros Medic, Miranda Maverick, Priscila Organizations: UFC, Delta Center, ESPN, ABC, TNT Sports, Amazon, Apple, PlayStation, Samsung, BT, BT Sport, You'll, LG, AEST Locations: Salt Lake City , Utah, Canada, Australia, New Zealand, Germany, Italy, Spain, Poland, Switzerland, Asia, Africa, Brazil
While recent inflation data was encouraging, he said, "one data point does not make a trend." Reuters Graphics Reuters Graphics'STRANGE BUSINESS CYCLE'Until the Fed declares its inflation war at an end, however, economists and market analysts say risks to a benign outcome will remain. "At 3.5%, July won't be the last time the Fed hikes," Furman said in an interview. Ed Al-Hussainy, senior rates analyst at Columbia Threadneedle, meanwhile, is skeptical that the impact of rapid rate hikes has already been absorbed. "To say we have the same economy with real rates at negative 2% as we do at positive 2%, I don't buy it."
Persons: Jerome Powell, Christopher Waller, Waller, Thomas Barkin, Nick Bunker, Jason Furman, Obama, Furman, Ed Al, Columbia Threadneedle, Raphael Bostic, Austan Goolsbee, shouldn't, Goolsbee, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Reuters Graphics, Richmond Fed, Reuters Graphics Reuters, Fed, Harvard University, White, Columbia, Atlanta Fed, Chicago Fed, CNBC, Thomson Locations: U.S
While recent inflation data was encouraging, he said, "one data point does not make a trend." Reuters Graphics Reuters Graphics'STRANGE BUSINESS CYCLE'Until the Fed declares its inflation war at an end, however, economists and market analysts say risks to a benign outcome will remain. "At 3.5%, July won't be the last time the Fed hikes," Furman said in an interview. Ed Al-Hussainy, senior rates analyst at Columbia Threadneedle, meanwhile, is skeptical that the impact of rapid rate hikes has already been absorbed. "To say we have the same economy with real rates at negative 2% as we do at positive 2%, I don't buy it."
Persons: Jerome Powell, Christopher Waller, Waller, Thomas Barkin, Nick Bunker, Jason Furman, Obama, Furman, Ed Al, Columbia Threadneedle, Raphael Bostic, Austan Goolsbee, shouldn't, Goolsbee, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Reuters Graphics, Richmond Fed, Reuters Graphics Reuters, Fed, Harvard University, White, Columbia, Atlanta Fed, Chicago Fed, CNBC, Thomson Locations: U.S
Over the long term, stocks are the way to grow wealth, according to Bank of America. Some $5.43 trillion is in money market funds, as of the week ending June 21 , according to the Investment Company Institute. "That's another way of saying that the S & P 500 is one of the world's best wealth-generating machines ever constructed," she added. Further, financial crises tend to be followed by economic and earnings growth cycles, along with sustained price gains for stocks. "All of the above are powerful structural forces for future long-term earnings growth — and key reasons not to rebalance too far in the direction of money market funds," Sanfilippo wrote.
Persons: Lauren Sanfilippo, Sanfilippo, — CNBC's Michael Bloom Organizations: Bank of America, Investment Company Institute . Retail
Here are just a few: What do you think about the use of stop-loss orders? The short answer is we don't use stop-loss orders at the Club. A stop-loss order includes a predetermined price that when (or if) hit converts to a market order. Whereas the stop-loss order will convert to a market order once the stop-loss price is hit, this order will convert to a limit order. But at the Club, we prefer to stick with market orders for all our trades to get the best possible prices.
Persons: Jim, — Thomas H, Hey Jim, Love, — Bruce M, Tony Jim, Ron I, Jim Cramer's, Jim Cramer Organizations: Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, NYSE
Noguchi also warned of risks to Japan's economy, such as uncertainty over global economic and market developments. Under yield curve control (YCC), the BOJ sets a -0.1% target for short-term interest rates and caps the 10-year bond yield around 0% to reflate growth and inflation. With inflation exceeding its target, markets are simmering with speculation the BOJ will soon tweak YCC due to criticism the policy is distorting market pricing and crushing financial institutions' profit margins. BOJ Governor Kazuo Ueda has stressed the need to keep monetary policy ultra-loose until there is more evidence wages will keep rising next year, helping Japan sustainably hit the 2% inflation target. Reporting by Leika Kihara Editing by Chang-Ran Kim and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.
Persons: Asahi Noguchi, Noguchi, Seiji Adachi, Kazuo Ueda, Leika, Chang, Ran Kim, Sam Holmes Organizations: Noguchi, Global, Bank of Japan, Thomson Locations: Japan, TOKYO, Naha
Core consumer inflation has now stayed above the central bank's 2% target for 14 straight months, casting doubt on its view the recent cost-driven inflation will prove temporary. "As the pass-through of rising costs runs its course, core consumer inflation will peak around summer," said Ryosuke Katagi, market economist at Mizuho Securities. BOJ Governor Kazuo Ueda has stressed the need to keep loose policy until inflation is sustainably around 2% and accompanied by wage hikes. He has also said core consumer inflation will slow back below 2% by September or October, though sustained price rises have put that view into some doubt. In its last projections made in April, the BOJ expected core consumer inflation to hit 1.8% in the current fiscal year ending in March 2024.
Persons: Ryosuke, Stefan Angrick, Kazuo Ueda, Leika Kihara, Takahiko Wada, Jacqueline Wong Organizations: Mizuho Securities, Bank of Japan, Reuters, Moody's, Thomson Locations: TOKYO, Japan's, Tokyo
"Our baseline view is that the S & P 500 will rise by 3% to 4500 by year-end 2023 and will reach 4700 (+7%) in 12 months. The S & P 500 is up about 14% year to date, surprising many on Wall Street who predicted a weak first half for stocks. .SPX YTD mountain The S & P 500 has rallied in the first half of the year, bucking the predictions of many experts. To hedge against the S & P 500 falling, Goldman's options analysts recommended using a put-spread collar on the index. One important consideration is that, as a hedge, the trade has less risk for investors who already own the S & P 500.
Persons: Goldman Sachs, Cormac Conners, Goldman, — CNBC's Michael Bloom Organizations: Survey
We'll also guide you step-by-step on how to use a VPN to watch UFC 289 no matter where you are. How to watch UFC 289 in the USUS viewers can watch the main event of UFC 289 on ESPN+ tonight at 10 p.m. In Canada, UFC 289 will be available as a pay-per-view though several TV providers as well as directly via UFC Fight Pass. Here's the fight card for UFC 289: Nunes vs. AldanaESPNEarly Prelims — 7 p.m. ET on UFC Fight PassDavid Dvorak vs. Stephen Erceg (Flyweight)Diana Belbita vs. Maria Oliveira (Women's strawweight)Prelims — 8 p.m.
Persons: Amanda Nunes, Irene Aldana, We'll, Miesha, Julianna Peña, Nunes, Peña, ExpressVPN, Aldana, David Dvorak, Stephen Erceg, Diana Belbita, Maria Oliveira, Women's, Chris Curtis, Miranda Maverick, Jasmine Jasudavicius, Aiemann, Kyle Nelson, Blake Bilder, Charles Oliveira, Beneil, Mike Malott, Adam Fugitt, Dan, Nate Landwehr, Marc, Andre Barriault, Eryk Anders Organizations: UFC, Rogers Arena, ESPN, BT, Miesha Tate, Amazon, Apple, PlayStation, Samsung, BT Sport, Express, Aldana ESPN Locations: Vancouver, Canada
Corning could be due for a bounce as the potential for earnings upside enters the realm of possibility, according to Morgan Stanley. Analyst Meta Marshall upgraded the glass materials maker to overweight from equal weight and raised her price target by $3 to $38. But after three straight negative revisions, Marshall said consensus estimates for Corning's earnings are now considered within the realm of being achieved. And Corning's valuation also creates an attractive entry point, as Marshall said she expects the rally to the price target once estimates get revised up in the fourth quarter. For the rest of 2023, Meta said the most optionality comes from improvements in the fiber business's order trends.
Persons: Corning, Morgan Stanley, Meta Marshall, Marshall, Meta, it's, — CNBC's Michael Bloom Locations: Japan
Secretary of State Antony Blinken is expected to travel to China in the coming weeks for talks, two U.S. officials told NBC News on Tuesday. The news comes after a previously planned trip was postponed following the discovery of a Chinese spy balloon flying over the United States. U.S. officials did not provide additional details on the timing of Blinken's rescheduled trip, which was first reported by Bloomberg. President Joe Biden and Chinese President Xi Jinping previously met in November in Bali, Indonesia, where they agreed that Blinken would visit China to follow up on the discussions. A Chinese government representative defended its actions, saying Monday that "China always respects the right of navigation."
Persons: Antony Blinken, Blinken, Wang Yi, Ned Price, Joe Biden, Xi Jinping, John Kirby, Biden Organizations: American Israel Public Affairs, NBC, U.S, Bloomberg, ., State Department, China's Ministry of Foreign Affairs, National Security, U.S . Locations: Washington , DC, China, United States, . American, South Carolina, Singapore, Bali , Indonesia, Taiwan, Bali, American, Beijing
Many were accused of treason or involvement in “illicit activities” for having contact with foreign journalists or human rights’ organizations that the Ortega regime views as a threat. He gave me, for example, the name of our international human rights lawyer, Jared Genser, who became my angel through all of this. Both spoke at the Geneva Summit for Human Rights and Democracy in May, where Maradiaga was awarded the 2023 Courage Award. Those Nicaraguans who only are asking for the protection of basic human rights and human dignity. “After all this work that we do as human rights defenders, there’s a private life that also has to be taken care of.
Persons: CNN — It’s, Felix Maradiaga, , Maradiaga, Berta Valle, Berta, I’m, Washington ’, , , Félix, Daniel Ortega –, Ortega, ” Maradiaga, , ’ Maradiaga, Daniel Ortega, Ned Price, ” Price, Valle, Jared Genser, It’s, he’s, “ It’s, Alejandra, ” Valle, Nicaragua –, I’ve, that’s, Pope Francis, Adolf Hitler, Vladimir Kara, Murza, pic.twitter.com, , there’s Organizations: CNN, State Department, Nicaraguan, Geneva, Human Rights, Democracy, US State Department, Dulles International Airport, UN, Oslo Freedom, Catholic Church, Central American, National Assembly of Locations: United States, Valle, Nicaragua, Washington, Miami, American, Nicaraguan, Oslo, National Assembly of Nicaragua, China, Hong Kong, Venezuela, Cuba, Afghanistan, Ukraine,
The new pricing system scraps a so-called fuel import parity policy that more closely aligned prices at the pump with the oil market and exchange rates. In a research note, JPMorgan (JPM.N) described the reworked pricing policy as "more friendly than investors expected." The policy shift will be tested when oil prices rise, and apply upward pressure on what consumers can expect to pay for motor fuels or LPG. Petrobras' new pricing policy also came under criticism from some as too opaque. The previous pricing policy was adopted seven years ago by conservative former President Michel Temer.
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