Dow Jones 40,589 (+0.75%) |
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| Dow Jones 40,589 (+0.75%) |
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TikTok trends are bleeding into investor relations: after social-media users set out to prove that Chipotle's bowl sizes vary, the burrito biz's CEO used the company's earnings call to tell investors it's retraining staff at stores with "outlier portion scores." Guac's still extra. Tech stocks had a rough week, with the Nasdaq shedding 2%, but US indexes rallied on Friday after the Fed's fave inflation gauge was in line with expectations. The Dow led Friday's gains as traders bet on a September rate cut. Apple, Amazon, and other Big Techies report this week. 🧠 One quiz is all it takes: Start your week off strong by testing your knowledge of the past week's biz news with our Snacks Seven quiz. Here's an appetizer: |
- Which fast-casual chain reported growing foot traffic and announced plans to open 315 new locations this year? (Check your answer.)
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The NBA's new media deals show how much streamers will splurge for cable's lunch |
"Roundball Rock" is back… The NBA scored a hat trick of monster media-rights deals last week worth $77B over 11 years. Out: current rights holder Warner Bros. Discovery's, which has broadcast NBA games on its TNT cable network for over three decades. In: Comcast's NBCUniversal, Disney's ESPN, and Amazon's Prime Video. The new deals — which start with the 2025 season — are worth more than double what the NBA gets now. |
- Stat line: Each year Disney will pay the NBA $2.6B, Comcast will fork over $2.5B, and Amazon's set to spend $1.9B. The contracts also reportedly include $2.2B for the WNBA over 11 years, an annual increase of more than 3x.
- Foul? Warner — which tried to rival Amazon Prime Video's bid but was rejected by the NBA — insists that its current contract with the league gives it the right to match a bid. On Friday, Warner sued the NBA.
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Streaming's spending like a D1 university… heavy on sports, light on arts. The NBA's media-rights dunk is the latest in a string of deals between leagues and streamers. YouTube is paying $2B/szn for "NFL Sunday Ticket," and Apple's shelling out $250M/yr for Major League Soccer rights. Next year Netflix will be the home of WWE's "Raw" (a $5B deal). NBC's Peacock has deals with the NFL, WWE, the Tour de France, and the Olympics (NBC holds the US media rights to the Olympics through 2032). Meantime, streamers are cutting spending on originals: Netflix released 16% fewer original programs last year, and Disney said it would chop its content budget by $2B this year. The # of original TV seasons on streaming platforms is down 19% YoY. |
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Sports are a hit show that never ends… Netflix has called sports a loss leader, citing "dramatically expensive" TV rights. Still, their popularity with key demographics (18-to-49s) makes them valuable for maintaining subscribers. Because live sports are a big reason folks keep cable, streamers' deals could lead to more cord-cutting. Warner will have to find something else to keep cable providers and customers interested in TNT. |
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8% Dividend Yield Investment Opportunity |
Elite investors often get special deals that aren't available to the public. Take Warren Buffett, for example. When he invested $10B in Occidental Petroleum, he didn't buy the publicly traded stock. He got preferred stock paying an 8% dividend. While you won't be investing alongside Warren Buffet, Monogram is offering the public preferred stock with an 8% yield (in cash or kind) that's convertible to its public stock.* We believe this is great timing — Monogram plans to file for FDA approval to market their robotic surgery tech this year. The common stock closed at $2.55 last week, but the unlisted convertible preferred stock (which is convertible into one share of common) is available for $2.25 per share. Learn more on their website. |
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8% Dividend Yield Investment Opportunity |
Elite investors often get special deals that aren't available to the public. Take Warren Buffett, for example. When he invested $10B in Occidental Petroleum, he didn't buy the publicly traded stock. He got preferred stock paying an 8% dividend. While you won't be investing alongside Warren Buffet, Monogram is offering the public preferred stock with an 8% yield (in cash or kind) that's convertible to its public stock.* We believe this is great timing — Monogram plans to file for FDA approval to market their robotic surgery tech this year. The common stock closed at $2.55 last week, but the unlisted convertible preferred stock (which is convertible into one share of common) is available for $2.25 per share. Learn more on their website. |
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Big Tech on deck… When Amazon, Microsoft, and Meta report, investors will be looking to see whether the trio's multibillion-dollar AI-vestments are paying off. Last week Google reported solid revenue growth for ads, which bodes well for Meta and Amazon. But cloud computing was its fastest-growing unit, up ~30% as its data centers powered AI. Amazon and Microsoft have also seen AI-juiced cloud strength, while Meta more than doubled its Q1 profit as it infused AI into its ad products (think: better targeting). But after a steep Big Tech sell-off, analysts say the companies might need blow-out results to win investors back. Spilling some #s… Exxon, Chevron, Shell, ConocoPhillips, BP, and Phillips 66 are set to pump out earnings. After a string of record profits during the pandemic, in Q1 Chevon, Exxon, and Conoco posted double-digit profit drops. Oil prices have cooled and a natural-gas supply glut has dragged on gas prices. But M&A is hot as oil cos team up to boost production and snag prime drilling real estate. Oil giants have made $100B+ worth of merger deals since late last year, and Conoco said in May that it would buy rival Marathon Oil for $23B. But as global oil demand falls, Wall Street isn't gassing up energy earnings. |
Lost the spark… Last week's earnings from carmakers confirmed that the EV transition is still losing speed. Tesla stock tumbled after the biz said its quarterly profit plummeted 45% while revenue from car sales sank 7% as deliveries fell. On Thursday, Ford stock had its worst drop since 2008 after the F-150 icon said its EV biz lost $1.1B, dragging down profit. Meantime, GM paused plans for an electric Buick and postponed an EV factory in Michigan. Porsche also poured cold water on its EV transition, saying it'll take longer than expected. The crypto constituency… Former Prez Trump proposed a national bitcoin "stockpile" when he spoke Saturday at a bitcoin conference in Nashville to try to solidify his place as the crypto candidate. The GOP added defending crypto to its platform, and cos like Coinbase and Marathon Digital (the largest bitcoin-mining company) saw shares climb with Trump's election odds. But President Biden's decision to bow out has boosted focus on the battle for the crypto constituency. Now some crypto advocates say they're encouraged by VP Harris' pro-tech history. |
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Cut the line between scammers and your data |
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Cut the line between scammers and your data |
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- GTA: The SAG-AFTRA union began striking on Friday against 10 major video-game studios including Take-Two, Epic Games, and EA. Performers will halt voice, motion capture, and stunt work for games.
- Ryan: Disney's "Deadpool & Wolverine" was on pace for a record US debut. AMC, which reported last week, said the US box office was heating up. June hauls nearly matched those from April and May combined.
- Gold: The Paris Olympic Games — the city's first in a century — will cost about $8.7B, making them the cheapest Summer Olympics since 2008. The 2016 Rio Games cost 3x more.
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| - Monday: Earnings expected from McDonald's, Tilray, and Royal Philips
- Tuesday: US monthly house-price index, consumer-confidence index, and job openings. Earnings expected from SoFi, PayPal, Pfizer, BP, Procter & Gamble, JetBlue, Phillips 66, Merck, Sysco, AMD, Microsoft, Starbucks, Pinterest, Caesars Entertainment, Live Nation, Match Group, Mondelez, and Denny's
- Wednesday: US Fed's interest-rate decision; Powell's press conference. ADP employment data. Earnings expected from Boeing, Norwegian Cruise Line, Kraft Heinz, Altria, Teva Pharmaceutical, Wingstop, Humana, Mastercard, Scotts Miracle-Gro, AutoNation, GE HealthCare, T-Mobile, Garmin, GlaxoSmithKline, Penske, Bausch + Lomb, DuPont, HSBC, Steve Madden, Meta, Qualcomm, Carvana, Etsy, MGM Resorts, eBay, Cheesecake Factory, and Herbalife
- Thursday: US initial jobless claims. Earnings expected from Allstate, Aflac, Goodyear, Marriott Vacations Worldwide, MetLife, Crocs, Moderna, ConocoPhillips, Wayfair, SiriusXM, Hershey, Wendy's, Toyota, Shake Shack, Roblox, Shell, Hertz, AB InBev, Thomas Reuters, Ferrari, Kellanova, Utz, Cigna, Shake Shack, Amazon, Apple, Intel, Coinbase, Roku, Block, Snap, Twilio, Microchip, Atlassian, DoorDash, GoDaddy, Motorola, Clorox, DraftKings, and Prudential
- Friday: US unemployment report. Earnings expected from Exxon Mobil, Chevron, and Squarespace
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Authors of this Snacks own bitcoin and shares of: Apple, Alphabet, Amazon, Exxon, GM, Disney, Tesla, Match Group, Microsoft, Starbucks, Warner Bros. Discovery, Kraft Heinz, and Norwegian Cruise Line |
Advertiser's disclosures:
* This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to read the prospectus supplement and accompanying base prospectus carefully for a more complete understanding of the issuer and the offering. The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over the counter market. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck. |
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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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