(Tiffany Rose/Getty Images) |
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Baseball's see-through pants will be heading back to the store. The MLB players' union said the league will phase out its new (sheer) Nike uniforms that "everyone hates" by next season. Guess they didn't cover their bases. Stocks sank yesterday, rounding out a gloomy April as investors braced for an expected rate hold today from the Fed. Earnings have been strong, including for Amazon (which beat expectations yesterday). Meanwhile, cannabis stocks were higher after a report said the DEA might reclassify marijuana as a less dangerous drug. |
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Pinball and beer pints… Dave & Buster's, the Chuck E. Cheese of the adult world, is getting into betting. The bar-restaurant-arcade chain will soon start offering social wagering on its app, meaning customers can bet on which half of their friend group will win Skee-Ball or bomb in Hot Shots basketball. D&B's 5M loyalty members will earn rewards while competing, which could boost the time and $$ they spend at the arcades. |
- Lucra(tive): D&B's is teaming up with gamification software startup Lucra to power its betting features. Lucra's contests are open to adults in 44 states, and D&B's said there'll be a limit on the size of bets allowed.
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Dave & Buster's bracket… is different from your March Madness wagers on DraftKings or FanDuel. Still, D&B's may be trying to capitalize on the betting boom: US sports betting has exploded since the Supreme Court struck down a federal ban in 2018. Over half of states have legalized sports bets, and last year Americans legally wagered a record $120B on sports, up 28% from the previous year. But D&B's wants to capitalize on a more casual form of wagering: |
- Social betting: These informal bets often take the form of Venmo'ing your friend $5 after losing in Jenga, or handing someone $10 after your prediction failed to materialize.
- It's a smaller industry than sports betting, but companies like Lucra are emerging to formalize (and monetize) these friendly bets. Lucra even signed a deal with the pickleball ratings system to allow players to compete for cash.
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Adults just wanna have fun… The kidult economy is thriving as grownups try to connect with their inner child through Disney park visits, collectible Squishmallows, and "Star Wars" Lego sets. Companies like Dave & Buster's, Bowlero, and Topgolf have capitalized, realizing that adults don't need to ask for token money. Social betting could raise the stakes in the world of kidult entertainment. |
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The future of A.I. could impact all technology companies. Why continue to take single stock risk? |
The Technology Sector ETF (XLK) provides investors access to the technology stocks in the S&P 500, all encapsulated within a single security. Why continue to take on the risk of single stock exposure, when you can own the entire technology sector of the S&P 500? Learn more about the Select Sector SPDR Fund XLK. Advertiser's disclosure: All ETFs are subject to risk, including possible loss of principal. Sector ETF products are also subject to sector risk and non-diversification risk, which will result in greater price fluctuations than the overall market. An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1-866-SECTOR-ETF (866-732-8673) or visit www.sectorspdrs.com. Read the prospectus carefully before investing. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust. |
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The future of A.I. could impact all technology companies. Why continue to take single stock risk? |
The Technology Sector ETF (XLK) provides investors access to the technology stocks in the S&P 500, all encapsulated within a single security. Why continue to take on the risk of single stock exposure, when you can own the entire technology sector of the S&P 500? Learn more about the Select Sector SPDR Fund XLK. Advertiser's disclosure: All ETFs are subject to risk, including possible loss of principal. Sector ETF products are also subject to sector risk and non-diversification risk, which will result in greater price fluctuations than the overall market. An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1-866-SECTOR-ETF (866-732-8673) or visit www.sectorspdrs.com. Read the prospectus carefully before investing. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust. |
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Meet the 3EO… Paramount boss Bob Bakish stepped down Monday and will be replaced by three execs who'll share the "office of the CEO." Bakish pioneered Paramount's push into streaming as viewers cut the cable cord. Under his leadership, the Hollywood studio launched its streamer, Paramount+, and acquired ad-supported streamer Pluto TV. Also on Monday, Paramount reported that it narrowed its Q1 streaming loss and grew its Paramount+ subscribers to 71M — up nearly 4M in three months. Still, Paramount lost $554M, largely from streaming. Off-screen drama… Media exec Shari Redstone controls 5% of all Paramount shares through her ownership of holding co National Amusements. But get this: that 5% accounts for 77% of all Class A shares, aka the kind that come with voting rights. Bakish reportedly had concerns about a merger Redstone signed off on with production company Skydance Media, which some shareholders said would unfairly benefit Redstone. (Skydance has since sweetened its deal.) The New York Times reported that Redstone didn't feel Bakish was moving swiftly enough to secure Paramount's future in a Netflixified world. |
- Pause: Disney and Warner. Bros Discovery's streamers have fast-forwarded past Paramount's sub #s and are eyeing profitability this year as Paramount+ aims for 2025.
- Still: Netflix is the only profitable major streamer, with 270M reported subscribers, more than 2X its closest rival, Disney+.
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Old Hollywood's having an identity crisis… Studio giants have struggled to transition from entertainment's Golden Age to its Netflix-binge era and find their place in the streamconomy. But their troves of content have made them prime acquisition targets: Disney bought 21st Century Fox, Amazon snapped up MGM, and Comcast got NBCUniversal. Because even as streamers spend billions to churn out new content, it's hard to beat "The Godfather" and "Titanic" — both made by Paramount. |
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- Grimace: For the first time in two years, McDonald's missed profit estimates as Middle East boycotts dragged on and customers stopped lovin' higher prices. Its soda ally, Coke, had bubbly growth despite price hikes.
- TokShop: TikTok Shop is getting hot. 500K+ merchants sold on the platform at the end of last year. Despite the potential of a Tik-ban, brands have raced to the app, where Americans buy $7M worth of products daily.
- Poke: Eli Lilly hiked its annual sales forecast by $2B thanks to its hugely popular weight-loss drug, Zepbound. Lilly's CEO said the biz was doing everything it could to boost production in the second half of this year.
- Unplug: Tesla gutted its charging team in a new round of layoffs, despite its plugs recently becoming the North American standard. Elon Musk reportedly suggested slowing the company's Supercharger network expansion.
- Lede: Eight US newspapers sued Microsoft and OpenAI, alleging their articles were used to train ChatGPT. In December, The New York Times became the first major paper to sue over AI-related copyright infringement, and more could follow.
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| - Fed interest-rate decision
- Job openings
- Earnings expected from eBay, Pfizer, CVS, Mastercard, Norwegian Cruise Line, Kraft Heinz, Marriott, Estée Lauder, ADP, Garmin, GlaxoSmithKline, DuPont, Yum Brands, and DoorDash
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Authors of this Snacks own shares of: Amazon, Comcast, CVS, Disney, Kraft Heinz, Microsoft, Norwegian Cruise Line, and Tesla |
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
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