This man wants to know how they should split their assets.
Netflix Inc. shares edged down with the broader market on Thursday, after Raymond James raised its stock price target by $100 to $465 on strong momentum for its international business and continued growth in the U.S. The new price target is 12% above its current level and comes after a slew of other bullish notes and price target increases this week. "Media consolidation and the shift to more over-the-top (OTT)/direct-to-consumer models plays to Netflix's strengths (e.g. personalization, year round quality programming, service reliability) and may provide a driver for price increases over time," analyst Justin Patterson wrote in a note. Raymond James is expecting Netflix to gain market share around the globe and to retain customers thanks to the depth of its library and pricing power. The company enjoys "material margin expansion potential," and is well-positioned for long-term per-share earnings growth and free cash flow generation, he wrote. The company could have more than 280 million global subscribers by 2024, given the success of shows like the German series "Dark," which had 90% of its viewership outside Germany. Shares were down 0.4% in early trade Thursday, but have gained 116% in 2018 so far and set successive records. The stock is trading at $415.12, after passing the $400 level for the first time earlier this week. The S&P 500 has gained 3.2% in 2018.
AT&T Inc. said Thursday it has entered an alliance with Broofield Infrastructure to offer colocation and other services to customers in 18 Internet Data Centers in the U.S. and 13 overseas. As part of the deal, AT&T will receive $1.1 billion, which it will use to reduce debt. Once the deal closes, expected in six to eight months, customer contracts, employees supporting the alliance, fixed assets, and leased and owned facilities will be transferred to Brookfield. "AT&T will become an active sales channel for the business and will be the anchor tenant of the colocation operations," the company said in a statement. "AT&T will continue to offer customers access to colocation services at more than 350 data centers -- including transferred IDCs -- around the world as part of AT&T's colocation ecosystem program." AT&T shares were up 0.4% premarket but are down 17.7% in 2018, while the S&P 500 has gained 3.5%.
Sirius XM Holdings Inc. shares are down 4.1% in Thursday trading after Goldman Sachs analyst Brett Feldman downgraded the stock to sell from neutral. "We believe the stock's material YTD outperformance (+40% vs. +4% for the S&P 500) has been driven primarily by a range of positioning factors including its relationship with its tracking stock , declining short interest, and Sirius's high share repurchases relative to its low float," Feldman wrote. "We see limited upside potential to subscriber and financial estimates over the near-to medium-term given the slowing pace of new car sales in the US, a maturing used car subscriber acquisition funnel and limited opportunity to increase pricing in the near-term." He has a $6 price target on the stock. Sirius's stock has gained 43% over the past 12 months, while the S&P 500 has gained 14%.
Starbucks Corp. said Thursday that it is launching two new limited-time Cold Foam Tea Lemonades on June 22 in the U.S. and Canada. Summer Sunrise includes a pineapple infusion and foam that's flavored with Teavana Passion Tango herbal tea. Passion Tango tea is included in the Summer Sunset beverage as well. Cold foam is made with blended nonfat milk and is included in other cold beverages on the menu. Starbucks, which ended Wednesday down more than 9% after announcing same-store sales guidance and its company strategy, has been focused on the "Instagram-worthiness" of its latest creations. The company is also focused on "better-for-you" offerings, according to remarks from Chief Executive Kevin Johnson at a recent Oppenheimer conference. Starbucks shares are down 9.1% for the year to date, while the S&P 500 index is up 3.5% for the period.
Darden Restaurants Inc. shares jumped 8.3% in Thursday premarket trading after the company reported fiscal fourth-quarter earnings that beat expectations. Net income for the quarter totaled $174.5 million, or $1.39 per share, up from $123.8 million, or 98 cents per share, for the same period last year. Adjusted EPS was also $1.39. Revenue was $2.13 billion, up from $1.93 billion last year. The FactSet consensus was for EPS of $1.35 and revenue of $2.13 billion. Same-store sales for Darden's legacy brands, which includes Olive Garden (up 2.4%), The Capital Grille (up 2.6%), and Eddie V's (up 3.6%) was up 2.2%. Same-store sales for Cheddar Scratch Kitchen, a more recent acquisition, was down 4.7% for the quarter. For fiscal 2019, Darden expects same-store sales growth of 1% to 2%, sales growth of 4% to 5%, and EPS of $5.40 to $5.56. The FactSet consensus is for EPS of $5.41. On Wednesday, Darden raised its dividend 19% to 75 cents per common share, payable to shareholders of record on July 10, 2018. And the company authorized a new share repurchase program of $500 million. Darden shares are down nearly 3% for the year to date, but up 5.7% for the last 12 months. The S&P 500 index is up 3.5% for 2018 so far.
AMC Entertainment Holdings, Inc. has completed a $53 million transaction to sell and simultaneously lease back one of its theaters, the company sai...
Shares of Kroger have jumped 10% after the century-old grocer grew digital sales 66% during the first quarter.
Brian Krzanich was ousted as Chief Executive of chip-making giant Intel (INTC) following an investigation into a "consensual relationship with an I...
Sustainable investors, playing the long game, are engaging with companies to strengthen human-rights practices.
The federal contractor joins Microsoft and others in criticizing the separation of migrant children from their parents.
Time magazine on Thursday used a viral image of a sobbing 2-year-old Honduran child snapped by Pulitzer Prize-winning photographer John Moore along...
First Lady Melania Trump has made an unannounced trip to Texas for briefings and a tour of a facility serving children who have entered the U.S. il...
Today’s economy is not the greatest ever in U.S. history. In fact, it was just as strong in 2014.
Audiobooks were found to elicit a greater emotional response than film and TV adaptations.
Chris Mamula thought everyone could and should be a DIY investor when he started writing about these topics. Now he admits he was wrong.
An ABLE account lets you save for a family member with disabilities in a tax-favored way.
|30 yr fixed Jumbo||4.61%|
|30 yr fixed||4.44%|
|15 yr fixed||3.88%|
|10 yr fixed||3.76%|
|30 yr fixed refi||4.44%|
|15 yr fixed refi||3.87%|
|5/1 ARM refi||4.20%|
|$30K Home Equity Loan||5.22%|
|$50K Home Equity Loan||4.92%|
|$75K Home Equity Loan||4.92%|
|$100K Home Equity Loan||4.78%|
|5 yr CD||1.73%|
|2 yr CD||1.20%|
|1 yr CD||1.01%|
|MMA Savings Jumbo||0.62%|
|60 Mo Used Car||4.21%|
|48 Mo Used Car||4.24%|
|36 Mo Used Car||4.18%|
|72 Mo New Car||3.76%|
|60 Mo New Car||3.87%|
|48 Mo New Car||3.73%|
|60 Mo Auto Refi||3.11%|
|36 Mo Auto Refi||2.57%|
|Avg APR||Last Wk||6 Mnths|
Quentin Fottrell answers your questions about inheritance, tipping, weddings, re-gifting, or any tricky money issues relating to family and friends. Have a question? Send it to the Moneyist.
This man says he tried to find the son he fathered in his teens, but his son found him and discovered he was loaded.
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This man wants to know how they should split their assets.
This father has four options for repayment. His wife and his son disagree with them.
How technology can help older people at work.
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Shares of real estate investment trusts focused on malls jumped Thursday after the Supreme Court ruled that states may collect sales taxes on inter...
Housing affordability - defined as housing payments divided by income - is at its most stretched since 2008, largely due to tepid wage growth. In r...
AT&T Inc. said Thursday it has entered an alliance with Broofield Infrastructure to offer colocation and other services to customers in 18 Interne...
Real estate services firm Cushman & Wakefield filed preliminary plans for an initial public offering, hoping to cash in on the nine-year bull marke...