Missing the days of 3-ring card binders |
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Since TGI Fridays filed for bankruptcy, its franchisees have worried that customers are going to rush to redeem $50M worth of unused gift cards that never expire. Their value is said to exceed TGIF's available cash, sparking fears of a bank run on potato skins. Stocks climbed yesterday as investors waited for the election results… About that: as we put this edition of Snacks to bed last night, there was still no clear winner in what has been one of the closest presidential races in US history. Check the latest here. |
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Searching for a digital Charizard.... The Pokémon Co. turned its popular online trading-card game into a mobile app. Just days after it launched, "Pokémon TCG Pocket" was downloaded 10M+ times. The game, which lets players collect and battle digital Pokémon cards, is raking in an estimated $3M/day from add-on purchases (that's more than "Pokémon Go"). If it can keep it up, it would make $1B+ this year. |
- Evolve: Players get to open two card packs a day for free, and can pay to open more. They can also buy items like digital binder covers or sign up for a $10/month subscription with perks.
- Zzz: The Pokémon Co. has been looking to repeat the success of 2016's "Pokémon Go." "Pokémon TCG Pocket" has already racked up half the downloads that "Pokémon Sleep" got in its first year.
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Not so free to play… Mobile games make up half of global gaming revenue, and are expected to bring in an estimated $93B this year — $41B more than console games. But free-game makers have faced lawsuits over how they get users to spend. Critics say "gacha"-style randomized goodies like loot boxes make mobile gameplay addictive. And a recent EU consumer complaint against top developers like Supercell ("Clash of Clans") said that games' use of their own currencies (picture: Poké Gold) misleads consumers, especially kids, into overspending real money. |
- Epic Games paid out a $245M FTC settlement this year after the agency said its "Fortnite" game used design tricks (like making it easy to click the wrong button) to get players to spend more.
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It's tricky to catch 'em all… Free-to-download mobile games depend on players purchasing items like hot-dog outfits and Pokéballs to make $$. But aggressive monetization tactics could risk users hitting "flee," and to capture customers for the long game, publishers might need to strike a balance. |
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The Financial Sector ETF (XLF) provides investors access to the financial 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 financial sector of the S&P 500? Learn more about the Select Sector SPDR Fund XLF. |
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 Financial Sector ETF (XLF) provides investors access to the financial 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 financial sector of the S&P 500? Learn more about the Select Sector SPDR Fund XLF. |
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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Break out the ginger ale… Beleaguered Boeing has finally managed to put an end to its seven-week strike. The plane maker's 33K union machinists narrowly voted to approve its latest contract offer, which included a 38% pay hike over four years and $12K cash bonuses. 59% of union members voted to OK the deal, which sweetened Boeing's previous offers but still left out a major union demand: the revival of a company pension plan. For Boeing, it ends a costly strike amid one of its worst years. |
- Turbulent: The average Boeing machinist's pay will climb from $76K to $119K over the course of the four-year contract. Still, many union members were said to have mixed feelings about the deal.
- Jet-sized costs: Analysts estimate that the strike has cost Boeing about $50M/day. The total cost to Boeing, its suppliers and customers, and the Seattle region could eclipse $9.6B. Last month the company posted a $6B quarterly loss.
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401(k)'s here to stay… Pensions — retirement plans that provide a fixed monthly payment and leave employers holding the risk of any market declines — have been a big worker ask. 43% of the US's private-sector workers had a pension in 1990, but today just 15% do. Last year's 150K striking union autoworkers also demanded pensions be brought back, but (like Boeing) Ford, Stellantis, and GM ultimately refused. An outlier is IBM, which this year restored its pension plan and nixed 401(k) contributions for employees. |
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A win doesn't mean it's over… Boeing workers won far more than the company initially offered, but union leaders acknowledged that a lot of members weren't thrilled. The union said it would press for better terms in contract talks in 2028. That year is shaping up to be huge for labor: UAW President Shawn Fain has repeatedly called for unions to line up their contracts to May of that year to potentially organize a massive collective strike. |
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Companies like Altria, RJ Reynolds, and Juul are incensed that unauthorized Chinese vapes keep getting past regulators and into consumers' hands. Read more. |
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- Yum Brands unboxed undercooked earnings after same-store sales fell at KFC and Pizza Hut. Burger King parent Restaurant Brands also reported stale results.
- Palantir stock popped 23% yesterday after the data-analytics big shot posted a record profit fueled by spending from its biggest client, the US gov't.
- Dollar Tree's CEO is stepping down after less than two years on the job, as the discount retailer struggles with slumping sales.
- Sports-car icon Ferrari revved up a 7% sales gain in Q3 as the broader auto industry hits the brakes.
- Nintendo said its profit plunged 60% from last year, and it cut its annual forecast for Switch sales as console demand cools.
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- Earnings expected from Novo Nordisk, CVS, Toyota, Sunoco, Qualcomm, AMC, E.l.f., Duolingo, Take-Two, Lyft, Zillow, Coty, Bumble, McKesson, TripAdvisor, Upwork, Beyond Meat, ZipRecruiter, Marriott Vacations, Virgin Galactic, and Allbirds
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Authors of this Snacks own shares of: CVS and GM |
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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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