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☆ ESPN Bet has big ambitions and a tough outlook as it launches in New York and aims to gain share in sports betting
▼ + stars: | 2024-09-04 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Executives at ESPN and Penn Entertainment hope that's true of ESPN Bet, which will soon debut in the Big Apple as football season heats up. The company hopes its massive platform and popular talent will attract new users to ESPN Bet. A far lower spend rate than its peers drove the service's market share below 4% in the first quarter of 2024, BofA estimated. In those states, ESPN Bet's share is generally between 3% and 6%. AdvertisementThat gives ESPN's namesake betting app a big advantage, but it's unclear whether that will be enough in the ruthless sports betting market.

Persons: —, Frank Sinatra, Mike Morrison, ESPN's, Penn, Chris Grove, Penn didn't, Grove, Dan Wasiolek, Wasiolek, Bet365, ESPN Bet shouldn't Organizations: Service, New, ESPN, Penn Entertainment, ESPN Bet, Apple, Business, Industry, NFL, Krejcik, Penn, Bank of America, Morningstar, Sports Locations: New York, Pennsylvania

☆ Cable TV's collapse deepens: 'It is becoming increasingly clear that there is no longer any floor'
▼ + stars: | 2024-09-03 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Pay-TV distributors — that's conventional cable guys like Comcast, satellite-TV outfits like DirecTV, and digital alternatives like YouTube TV — lost 1.6 million subscribers in the second quarter of 2024, according to analysts at MoffettNathanson. But not as bad as other Q2s, like in 2023, when the industry lost 1.7 million subscribers, or in 2022, when it lost 1.8 million subs. And in other good news for the TV industry … well, that's about it. That's why YouTube TV lost subscribers for the first time in the first quarter, and added only 50,000 subscribers in the second.

Persons: —, MoffettNathanson's Craig Moffett, Michael Nathanson, we've, Nathanson, Venu, Warner, Fox —, Moffett, James Faris, Jimmy Pitaro Organizations: Service, Comcast, DirecTV, YouTube, Business, Hulu, Moffett, Warner Bros, Disney, Fox, ESPN, ABC

☆ 10 major US cities where rent is affordable and falling fast as national apartment prices reach record highs
▼ + stars: | 2024-09-01 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

"Strong renter retention alongside our growing national rent index underscores the robust demand present in the US market." AdvertisementThe best explanation is that apartment supply remains capped in those markets, Zumper noted. Of those, 28 also happen to have lower rents for one-bedroom apartments than the national median of $1,534. To help renters save, Business Insider narrowed that list down even further to 10 cities where one-bedroom units are cheaper than the national median and rent is down at least 5% year over year. Below are those 10 cities along with their year-over-year and month-over-month rent changes, median rent prices, the monthly savings vs national median, and the national rent rankings among the nation's 100 largest real-estate markets.

Persons: —, Zumper, they've, Anthemos Georgiades Organizations: Service, Business, Syracuse University, Yale University, University of Kentucky, University of Wisconsin, University of Nebraska Locations: Syracuse , New York, New Haven , Connecticut, Lexington , Kentucky, Madison , Wisconsin, Lincoln , Nebraska, Madison, Lincoln, North Carolina, Texas

☆ DirecTV is on the warpath against Disney in a battle it says is existential for cable TV
▼ + stars: | 2024-08-27 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

They really just want to disintermediate all of pay TV and drive everyone to themselves. Fresh off a vicarious victory over Disney, Thun is still looking for revenge. For DirecTV, it's skinny bundles or bustDirecTV believes these strict bundling requirements are to blame for putting pay TV on life support. Disney is "completely responsible" for the fall of pay TV, Pachter said, "because they think the only direction that retransmission fees should go is up." Without skinny bundles, pay TV is 'going to die'If skinnier bundles can't solve pay TV's woes, it's unclear what could.

Persons: —, Venu Sports, Venu, Rob Thun, Thun, Venu didn't, DirecTV's, Geo, They've, Venu wouldn't, Margaret Garnett, I'm, Michael Pachter, he'd, Pachter, Brian Wieser, Puck's John Ourand, Rich Greenfield, Greenfield, — we're, Wieser Organizations: Service, Disney, Fox, Warner Bros ., DirecTV, Business, ESPN, balk, YouTube, Wedbush Securities, Madison, Cable, Paramount, LightShed Partners, Charter Locations: Thun, Wall

☆ Magician Dan Chan shares how he grew his portfolio from $276,000 to over $1 million in under 8 years — without any tricks
▼ + stars: | 2024-08-24 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

A magician rarely reveals his tricks, but in a recent interview, Chan told BI about his simple but unconventional investing strategy. From breathtaking magic to eye-popping returnsAfter missing out on a once-in-a-lifetime opportunity, Chan took a harder route to striking it rich. Around the same time he joined PayPal, he started performing magic shows. AdvertisementFast-forward a few decades to March 2020, when stay-at-home orders threatened to sideline Chan's business. How to invest like a magician — and the company he's nearly all-in onThere's no smoke and mirrors behind Chan's returns.

Persons: —, Dan Chan, Chan, Merrill Lynch, David Copperfield, David Blaine, Elon Musk, George Lucas, Paula Abdul, Green, he's, He's, Chan's, Chan doesn't, shouldn't, Jensen Huang, Jensen, I've, Mark Zuckerberg Organizations: Service, Business, PayPal, Costco, Nvidia, Facebook, Google, YouTube Locations: Bay, what's

☆ How David Zaslav can save Warner Bros. Discovery as the cable bundle collapses, according to a top media analyst
▼ + stars: | 2024-08-14 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

AdvertisementThose moves show just how rapidly the cable TV business is unraveling. WBD's direct-to-consumer segment still loses money, and its streaming revenue actually declined 6% from last year — even though Max added 3.7 million subscribers. WBD added 3.9 million streaming subscribers abroad last quarter, thanks to its rollout across Europe ahead of the Olympics, which the company broadcasts outside the US. If that service attracts enough cord-cutters, it could help stop the bleeding in WBD's fast-declining pay TV business in a best-case scenario. Join forces with other media firmsAdvertisementAlthough WBD is struggling as the pay-TV business shrinks, the silver lining is that it's not alone.

Persons: —, David Zaslav, Patience, WBD wasn't, Max, Fox —, Tim Nollen, WBD, Nollen, Venu, NBA would've, it's Organizations: Service, Warner Bros, Business, Paramount, Macquarie Research, Disney, NBA, Comcast's NBC, MLB, NHL, TNT, TBS, Max, Hulu Locations: WBD, Europe, Latin America

☆ 45 unfairly punished stocks primed for a revival: Goldman Sachs
▼ + stars: | 2024-08-13 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

During the sell-off, strategists at Goldman Sachs recommended buying the dip in US stocks, albeit carefully, as they reiterated their year-end S&P 500 price target of 5,600. Economically sensitive stocks have lagged defensives by at least 5 percentage points in a single week 12 times since 2000, according to Goldman Sachs. "Despite the weak jobs report, our economists believe continued economic expansion is far more likely than recession," Kostin wrote. Goldman Sachs found that those micro factors explained 86% of stock returns in the first half of 2024, versus the long-term average of 57%. Fewer worries about the near-term economic outlook mean stocks will no longer trade in lockstep — a win for active investors.

Persons: —, Goldman Sachs, David Kostin, Kostin, abate, lockstep — Organizations: Service, Goldman, Business, Institute of Supply, Walmart Locations: Japan, lockstep, Monday's

☆ Florida residents should flee to these 2 popular states before climate change decimates home values
▼ + stars: | 2024-08-10 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Although steadily rising global temperatures and their effects are increasingly hard to ignore, Burt believes they're not yet factored into property values. Flood insurance costs will skyrocket since they're severely underpriced to climate risk, his research indicates. Related stories"I think that there's a lot of pent-up supply from folks, particularly who are being exposed to these ownership cost increases away from mortgage rates," Burt said. They'll then be prepared to either bear the burden of higher insurance costs, or sell. AdvertisementUnlike Ivy Zelman, who's another analyst with a knack for spying issues in the housing market, Burt doesn't think the Midwest is the best region for beach-dwellers to flee to.

Persons: David Burt, who's, Burt, they're, Ivy Zelman, Burt doesn't Organizations: Service, Business Locations: Georgia, Florida, New York

☆ 'There's a reckoning happening': An underrated risk will crater property values in high-risk markets by up to 60%
▼ + stars: | 2024-08-09 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

That's made Burt even more confident about his long-held thesis, which many property owners are ignoring. For example, flood insurance costs in coastal cities could rise from $5,000 per year to $15,000 under the updated national flood insurance pricing set by the Federal Emergency Management Agency (FEMA), Burt said. And that's assuming flood risk doesn't continue to rise over time, which Burt believes is unlikely. That would be disastrous for all property owners in those markets, even those not trying to sell. Homeowners in cities most vulnerable to the effects of climate change should be sweating, if they aren't already.

Persons: David Burt, Michael Lewis, Burt, That's, I'm, it's Organizations: Service, Business, Federal Emergency Management Agency, FEMA Locations: Lee County , Florida, Fort Myers, Paris, that's

☆ 'Babies tossed out with the bath water': Why top strategists aren't scared during the wildest market since March 2020
▼ + stars: | 2024-08-06 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Related storiesWhile those concerns served as the kindling, it was the July jobs report that sparked terror. A closer look at the jobs report reveals that while job additions underwhelmed, jobless claims were also minimal. AdvertisementSecond-quarter earnings growth has been impressive so far and seems set to rise by low single digits, according to UBS GWM. The bullish strategy chief remarked in a note Monday that six of the 11 market sectors have enjoyed double-digit earnings growth this quarter, while only three have seen declines. "Such sell-offs can offer an opportunity to 'catch babies tossed out with the bath water,'" Stoltzfus wrote.

Persons: —, Oppenheimer, Jonathan Golub, Oppenheimer Jason Draho, Americas Solita Marcelli, Marcelli, Beryl, Draho, That's, David Lefkowitz, John Stoltzfus, Stoltzfus Organizations: Service, Business, UBS, UBS Global Wealth Management, Labor, UBS GWM Locations: Americas

☆ 41 cities for hopeful homebuyers looking for leverage at work as unemployment rises
▼ + stars: | 2024-08-03 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Leading real-estate analyst Ivy Zelman recently told Business Insider that entry-level houses are still about 20% more expensive than normal. While the unemployment rate remains relatively low, it has now risen for four straight months and appears to be accelerating. A higher unemployment rate is a troubling sign for employees, including those who have jobs and aren't looking to leave. In a tight job market, workers can demand higher raises since there aren't as many viable replacements for them if they left. Note that data for the cities is from June — the most current data obtained by Business Insider — while the national data is from July.

Persons: —, shouldn't, Ivy Zelman, Jobs, Realtor.com Organizations: Service, Business, Street Locations: Realtor.com

☆ 6 underappreciated stocks to buy now: Top-3% fund manager in the last decade
▼ + stars: | 2024-08-02 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Read previewLeading fund manager David Vaughn would have every reason to be confident — cocky, even. Playing it safe can pay offSince Vaughn doesn't pretend that he can predict the future, he hedges his bets accordingly. ClariVest's international fund, which Vaughn has run since its inception in early 2013, holds a whopping 120 to 150 stocks at a time — far higher than many of its peers. The top fund manager and his colleagues don't develop an in-depth thesis for each stock or get cozy with sweet-talking management teams. Advertisement6 international stocks to buy nowAlthough Vaughn avoids getting attached to stocks in his heavily diversified fund, that doesn't mean he doesn't have favorite ideas in international markets.

Persons: —, David Vaughn, Vaughn, You've, Vaughn doesn't, We'd, that's, Charlie Brown, Lucy Organizations: Service, Carillon, Stock Fund, Business Locations: ClariVest

☆ Buy these 23 top stocks for consistent income as falling interest rates hurt savers
▼ + stars: | 2024-08-01 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

Barring a major shock, interest rates will fall for the first time since 2020 next month. Here are 23 high-yielding stocks to buy now, according to BMO Capital Markets. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInvestors' wait for lower interest rates is almost over, for better or worse. But while the market has long lusted after lower rates, cuts can be a double-edged sword.

Persons: — Organizations: BMO Capital Markets, Service, Federal, Business

☆ Rent is falling fastest in these 20 cities, thanks to surging apartment supply
▼ + stars: | 2024-07-31 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Median one-bedroom apartment prices rose at the fastest rate in 12 months in July, according to a new report from real-estate site Zumper. 20 cities where rent is receding fastestApartment dwellers looking for lower rent should start their search in the South. Five of the 20 US real-estate markets where one-bedroom apartment prices fell by at least 5% in July were in Texas, and 11 others were in the South or Southwest regions. AdvertisementBelow are the 20 US markets where rent for a one-bedroom apartment fell at least 5% from July 2023, according to Zumper. Each is also listed along with its year-over-year and month-over-month rent changes, median rent price, and national rent ranking among the nation's 100 biggest markets.

Persons: —, Anthemos Georgiades Organizations: Service, Business, Lone Star Locations: Texas, South

☆ 'You have to be invested': 6 hot stocks to buy as US markets rebound to record highs by Labor Day
▼ + stars: | 2024-07-30 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In a little over a week, the index sank from near 5,670 to under 5,400 as the mega-cap tech stocks that drove the market higher suddenly sold off. Advertisement"You have to get involved in stocks; you have to be invested in the US equity market," Salama told Business Insider. However, the trader isn't abandoning his bullish view on mega-cap tech stocks. AdvertisementStoltzfus agrees that the market's favorite stocks, including those tied to artificial intelligence, aren't wildly overvalued, as some bears have argued.

Persons: —, John Salama, he's, Salama, There's, John Stoltzfus, who's, Stoltzfus, I've, Trump, Biden, Harris, Parris, it's Organizations: Service, Business, Labor, Oppenheimer Asset Management, House, Shmump, Dell Technologies

☆ 16 cities with hot job markets where homes cost $150,000 less than the national average
▼ + stars: | 2024-07-27 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Read previewAffordable homes are already rare in this cutthroat housing market, so finding a fairly priced property in a city with promising job prospects may seem like an impossible task. While property prices are no longer surging, they're still elevated, as are mortgage rates. "In-demand, affordable markets, such as those on the Wall Street Journal/Realtor.com Housing Market Ranking list, have seen prices climb, especially high relative to pre-pandemic prices." Homes in those standout cities also cost 6% more than last year, while the rest of the US had flat home prices. Within that group, there were 16 real-estate markets where homes were at least $150,000 less than the national average that also had an unemployment rate at or below 4%.

Persons: —, Realtor.com, Hannah Jones, Danielle Hale, Jones, Hale Organizations: Service, Business, Street Journal, National Association of Realtors, Wall Street Locations: Realtor.com

☆ 'Nobody wants to talk about it': A market-shifting real-estate trend is hiding in plain sight — and these 5 states will benefit most
▼ + stars: | 2024-07-27 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

"We've got a real headwind from climate change," Zelman told Business Insider in late July. AdvertisementThe two hottest days in recorded history were earlier this week, according to the Europe-based Copernicus Climate Change Service. Most scientists say that's due to climate change caused by humans, but even if it's a coincidental pattern, the trend of rising temperatures is undeniable. AdvertisementMidwestern cities are destined to overtake the 'Sun Melt'During the "great reshuffling" of the pandemic, warmer states in the Sun Belt region were among the biggest beneficiaries. The widespread advent of remote work allowed millions of people to relocate, and many moved in droves to warmer states in the Southern US.

Persons: —, Zelman, she's, We've, I've, Sylvain Leduc, Daniel Wilson Organizations: Service, Zelman, Associates, Wall, Business, Van Lines, Federal Reserve Bank of San Locations: Europe, Southern, South, Carolinas , Tennessee, Florida, Arizona, North Carolina, South Carolina , Tennessee, Georgia, Alabama, Texas, Midwest, Federal Reserve Bank of San Francisco, Miami, Ohio, Michigan , Illinois , Iowa, Wisconsin, Cleveland

☆ A massive tech sell-off and small-cap rally are just getting started. Make 5 investments to avoid missing out.
▼ + stars: | 2024-07-26 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Small caps should also get a boost from interest rate cuts, which typically translate to disproportionately large gains for the group. That helps confirm what investors are realizing: small caps are the place to be. When large caps sneeze, the market catches a coldThe small-cap breakout has coincided with large technology stocks breaking down. Small caps also tend to have less of an international presence than their larger peers, so they don't miss out as much when converting overseas profits to dollars. The small-cap index is closely tied to economically sensitive parts of the market, which should continue to participate in this rally.

Persons: —, chartmaster, BMO Capital Markets David Keller, who's, Russell, David Keller, StockCharts.com, Keller, you've, he'd, Keller didn't Organizations: Service, Tech, Nvidia, Meta, Business, BMO Capital Markets, BMO Capital, BMO, Therapeutics, Myriad Genetics, Holdings

☆ 9 stocks to buy as historically cheap small caps rally during a risky earnings season: Bank of America
▼ + stars: | 2024-07-24 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

US small caps hadn't been down that long since the painful stretch from mid-2007 to early 2011. While smaller stocks languished, large-cap companies dominated, due in part to enthusiasm about their exposure to artificial intelligence. Bank of AmericaThis valuation discrepancy is no secret, so Bank of America believes the market rally will broaden beyond the mega-cap leaders as investors shift toward smaller stocks. Earnings expectations for small caps have tumbled in the last several months, Hall said, noting that analysts are no longer pricing in positive profit growth. "Guidance has still generally been weaker than average for small caps."

Persons: —, Jill Carey Hall, Russell, Hall, they'll, haven't, It's, everyone's Organizations: Service, Bank of America's, Business, Bank, America, Bank of America, Federal Reserve, —

☆ A 5-part investing playbook for avoiding chaos as US stocks head down a rocky path to the election: Truist's strategy chief
▼ + stars: | 2024-07-23 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Read previewInvestors should stay on guard as this market rally loses steam, a veteran strategy chief says. The investment chief and the chief market strategist signaled in April that US equities had an attractive risk-reward setup after a 5.5% selloff. "All those factors combined suggest maybe a choppier market, even though we still think the long-term bull market is intact," Lerner said. "In the fall, I think investors will eventually come back to tech because I still think that's the main secular theme of this bull market," Lerner said. "But I don't know that this is a game changer for this bull market where small caps will be leadership."

Persons: —, Truist's Keith Lerner, Lerner, Truist, Truist Lerner, he's, you've, isn't, haven't Organizations: Service, Nasdaq, Business

☆ The manager behind a pair of top-3% growth funds shares a proven strategy for playing the AI boom — and 6 of her favorite stocks to buy now
▼ + stars: | 2024-07-21 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Ankur Crawford, who co-manages the top-1% Alger Capital Appreciation Fund (ACAAX) and top-3% Alger Spectra Fund (SPECX), has done just that. But many in markets believe that AI stocks' feverish rally is running out of steam as investors rotate away from technology companies. But both funds target two types of growth stocks, Crawford said: high-unit-volume powerhouses that control their industries, and established firms in the midst of a significant makeover. "They're usually market-dominant players; they're changing their markets," Crawford said of the former group. 6 top growth stocks to buy nowAfter outlining the strategy that her funds follow, Crawford named six stocks she's bullish on that are in both funds.

Persons: —, Ankur Crawford, Crawford Organizations: Service, Business

☆ Mega caps are peaking. Prepare for a reversal by buying 15 lesser-known stocks on a list that's lapped its benchmark since 2008.
▼ + stars: | 2024-07-19 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

The market's largest stocks are falling back to the pack after driving gains for 18 months. However, leading strategists at BMO Capital Markets say US stocks can build on their gains anyway. Here are 15 small-cap stocks that are well positioned for a market reversal. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA long-expected shift is sending shockwaves through the stock market, but top minds at BMO Capital Markets say investors with diversified portfolios have nothing to worry about.

Persons: —, Russell Organizations: BMO Capital Markets, Service, Business

☆ 15 major cities where rent is at least 15% cheaper than the national average
▼ + stars: | 2024-07-18 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

However, apartment prices are still far higher than in 2020 in most markets. Here are 15 cities where rent costs at least 15% less than the national average. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRent continues to tick down across the US, but at this pace, it would take several lifetimes to see pre-pandemic apartment prices again. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business

☆ David Zaslav's Warner Bros. Discovery experiment has failed, Bank of America's top media analyst says. Here are the company's 3 best paths forward.
▼ + stars: | 2024-07-17 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Zaslav, the cable-executive-turned-mogul, orchestrated the tie-up between Warner Media and Discovery after running the latter for 15 years. "The current composition as a consolidated public company is not working," Ehrlich wrote in a July 16 note. AdvertisementZaslav should reexamine his strategy and look at options that would benefit his long-suffering stock, Ehrlich wrote. 3 best blueprints for a WBD turnaroundIn the note, BofA media analysts outlined several potential paths forward for Zaslav and the company. Advertisement"We have long discussed an impending 'rebundling' in media, as the current streaming market is oversaturated and ripe for consolidation," Ehrlich wrote.

Persons: —, it's, David Zaslav, hasn't, Jessica Reif Ehrlich, Ehrlich, BofA, Bob Iger, Fox Organizations: Service, Warner Bros, Warner Media, Discovery, Business, Bank of America's, NBC, Disney, ABC, CBS, Paramount, Skydance, Max Locations: Zaslav, Hollywood

☆ 11 top tech stocks to buy for up to 41% upside as strong Q2 earnings spark another major rally
▼ + stars: | 2024-07-17 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Few voices in markets have matched Ives' zeal for tech stocks in recent years. "The AI revolution is the strongest tech trend we've seen in 40 years," Ives said. "And anyone that thinks different will be proven wrong because the growth is so outsized in the tech sector." 11 tech stocks to buy nowWhile Wedbush is bullish about tech broadly, Ives and his colleagues are most excited about 11 stocks that are either exceptional tech giants or leading cybersecurity companies. Below are those 11 stocks along with the ticker, market capitalization, price target, and upside to that target for each.

Persons: —, Dan Ives, Ives, monetization Organizations: Service, Wedbush Securities, Business, Nvidia, Microsoft, Wall, Tech

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