|Bid||23.60 x 2900|
|Ask||24.02 x 1100|
|Day's range||23.38 - 24.10|
|52-week range||15.95 - 31.78|
|Beta (5Y monthly)||0.93|
|PE ratio (TTM)||92.32|
|Earnings date||29 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||07 Jun 2018|
|1y target est||32.14|
(Bloomberg Opinion) -- And it begins. Apple Inc. now officially faces a double threat on the regulatory front.On Tuesday, the European Union announced it has opened two formal antitrust investigations into the tech giant to see if the company has broken competition laws with its App Store and Apple Pay services. Specifically, the regulators plan to investigate Apple’s rules surrounding its in-app purchase system, where its charge developers a 30% cut for digital content or services sold on its platform (the 30% fee is lowered to 15% after the first year for subscriptions), along with the company’s restrictions on developers from informing users of alternative purchasing avenues inside their iOS apps. The EU will also look into how Apple Pay is the only payment solution allowed to use Apple mobile devices’ “tap and go” payment functionality inside physical stores.Of the two, the potential regulation of the App Store is the bigger deal. For years, the digital store’s excessive fee structure has been a main point of contention for app developers. Epic Games Inc. CEO Tim Sweeney has repeatedly said the commission rate was too high given the actual middle-man services Apple provides. Further, in 2019 music-streaming company Spotify Technology SA filed a complaint with the EU, citing Apple’s fees and restrictive rules, which the regulator has now cited as an impetus for the formal investigation. The detractors have a point — the Apple App Store has attained excessive power in the marketplace. Companies have no choice but to accept Apple’s terms to get access to the more than 1.5 billion iOS devices in active use and the 500 million people who use the App Store on a weekly basis. Antitrust laws were designed to ensure vigorous competition and protect consumers from harmful anti-competitive business practices. And the Apple App Store’s onerous practices fit that bill.Apple has long argued the App Store has spurred a wave of innovation over the last decade and allowed startups to scale their customer bases rapidly with its “safe, secure” platform. But the company’s user base has grown so large and is too dominant in the market. Outside of Google’s Android there is little to no competition in the smartphone space to reach such a large audience. Apple also has hurt its standing by relaxing its App Store rules for certain large companies. In April, Bloomberg News reported that the company allowed a handful “premium subscription video” providers — including Amazon.com Inc., Vivendi SA, and Altice USA Inc.’s Altice One — the ability to charge consumers directly using their own payment systems without paying a commission to Apple.Unfortunately, not all companies have the negotiation leverage of Amazon. Regulators should stand up for the smaller companies that frankly need the fee break more. Moreover, the EU should at least mandate Apple to allow developers to inform users they can purchase content outside the app.At the end of the day, a lower App Store commission rate wouldn’t be the end of the world for Apple. For all the talk about the company’s strategic shift to services, the segment, of which the App Store is only a part, accounted for just 18% of its sales in its most recent fiscal year. But a 50% reduction, for example, would be a tremendous boon for smaller companies — spurring more innovation and lower prices for consumers. That’s an end result regulators should fight for.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Altice USA (NYSE: ATUS) today makes the following statement following the sale of a portion of Altice USA shares by Canada Pension Plan Investment Board (CPP Investments):
Altice USA (NYSE: ATUS) today announces that Dexter Goei, Altice USA CEO, will participate in the MoffettNathanson 7th Annual Media & Communications Summit on Tuesday, May 12, 2020 and the 48th Annual J.P. Morgan Global Technology, Media and Communications Conference on Wednesday, May 13, 2020.
In the first quarter, Altice (ATUS) sees record demand for its broadband service and achieves the best-ever quarterly performance with 50,000 broadband net additions.
Altice USA (NYSE: ATUS) will host a conference call on Thursday, April 30, 2020 at 4:30 p.m. EDT to discuss financial and operating results for the first quarter ended March 31, 2020. A press release reporting the results will be issued at 4:05 p.m. EDT.
(Bloomberg Opinion) -- What was once sacrosanct is no more. Apple Inc. seems to have blinked.Late Wednesday, Bloomberg News reported that Apple has relaxed its rules requiring a 30% cut for any content sold inside video apps on its iOS platform. The tech giant said its program allows “premium subscription video” providers the ability to charge consumers directly using their own payment systems without paying a commission to Apple.For customers of Amazon.com Inc., which started taking advantage of the change on Wednesday, it means Amazon’s Prime Video subscribers in the U.S., U.K. and Germany, can now buy or rent video content using the e-commerce company’s app on Apple’s platforms. Amazon.com Inc. had previously only allowed video purchases outside of Apple’s ecosystem, such as its website. Canal+, owned by Vivendi SA, and Altice USA Inc.’s Altice One had already joined Apple’s program in recent years.As recently as last year, Apple CEO Tim Cook told CBS News the company didn’t have a dominant position in any market. But analysts have said Apple’s App Store may be the one business where it actually had excessive power over developers, because of the steep commission it was able to demand in exchange for allowing their apps, in-app purchases and subscriptions to be sold on its platforms. (The 30% subscription fee is lowered to 15% after the first year.)The Apple App Store’s high commission structure has been infuriating for many companies. In 2019, music-streaming company Spotify Technology SA filed a complaint against Apple with the European Commission, while Epic Games Inc. CEO Tim Sweeney, whose company makes Fortnite, has consistently railed against Apple’s commission structure as unjustified. Netflix Inc. even abandoned using Apple’s payment system altogether to avoid the fee in 2018.Why did Apple budge? Perhaps it’s a move to preempt further pressure from regulators. Whatever the reason, once the first step is made toward lower fees, there is no turning back.It’s only a matter time before other companies such as Netflix, Spotify and countless others ask for better terms as well. Lower middle-man fees can also be good news for consumers if it leads to lower prices, too.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Apple Inc. has relaxed a controversial policy that took a 30% cut of payments when video apps on its platform sold TV shows and movies.Amazon.com Inc. started taking advantage of the change on Wednesday, selling and renting movies via its Prime Video service on Apple devices without needing to give Apple a share of the money.“Apple has an established program for premium subscription video entertainment providers to offer a variety of customer benefits,” the Cupertino, California-based technology giant said in a emailed statement. The program applies to multiple services, including Amazon Prime Video. Canal+, a unit of Vivendi SA, started participating in 2018. Altice One, a cloud-based video service from Altice USA Inc., signed up in February.The program lets these premium services charge viewers via their own payment method instead of Apple’s in-app-purchase system, which takes a 30% cut. “Customers have the option to buy or rent movies and TV shows using the payment method tied to their existing video subscription,” Apple said in the statement.Apple said the program also provides a number of other benefits, including “integration with the Apple TV app, AirPlay 2 support, tvOS apps, universal search, Siri support and, where applicable, single or zero sign-on.”Most other types of apps and services on Apple devices like the iPhone, iPad, and Apple TV require the use of Apple’s in-app-purchase system for downloads and upgrades. Some developers, including Spotify Technology SA, have said Apple’s system is an antitrust issue and have had to raise their prices by 30% for iPhone users to offset Apple’s fees.Read more: Apple and Google Face Growing Revolt Over App Store ‘Tax’ (Updates with details of program participants in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Altice USA (NYSE: ATUS) announces today it is making more content available to its residential Optimum and Suddenlink video customers by offering access to live and on demand programming from Hallmark Channel, Hallmark Drama, Hallmark Movies & Mysteries, Cooking Channel, DIY Network, Science Channel, and Discovery Family now through April 22nd at no additional cost.
(Bloomberg) -- The broadband sector could become a safe haven for investors looking to store cash in the event of a financial crisis.Demand for internet access will be recession-proof, if history is an indicator. A Bureau of Labor Statistics analysis from 2009 to 2010 showed total household spending declined year-over-year while computer information and cable services spending increased. That may be even more the case now amid the coronavirus outbreak, as many Americans are working remotely from home and relying on streaming services like Netflix Inc. for entertainment.“The criticality of broadband has increased since the global financial crisis,” Gregory Williams, an analyst covering cable and satellite services at Cowen, said in a note to clients. It’s “now considered a fairly price inelastic utility-like necessity.”AT&T Inc., Charter Communications Inc., Comcast Corp. and Altice USA Inc. are among the long list of potential benefactors providing internet-based services across the U.S. Pure-play businesses like Charter are seen best positioned for upside. Shares of the Stamford, Connecticut-based company have fallen just 8% since the beginning of the year, compared to a 20% decline in the S&P 500 Index.Michael McKenzie, managing director of private investment firm Grain Management, said that broadband connections grew 15% from 2008 to 2009. While there’s no guarantee that will happen this time, the sector is likely to fare better than cable or entertainment peers as consumers look to cut discretionary spending.“I think it’s highly unlikely that [broadband connectivity] declines in a recession,” McKenzie said in an interview. It “should be a safe bet” given its historic stability, he said.McKenzie said there may be some “depressed” spending in certain sectors like hospitality. But in general, stocks linked to mobile network operators and tower owners will “tend to benefit from what we see coming out of this crisis.”(Corrects broadband connection growth in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
In response to the COVID-19/coronavirus pandemic, Altice USA has taken several steps to ensure that Americans within the communities we serve have reliable access to high-speed broadband connectivity to keep them connected to the people, information, and resources they rely on.
NEW YORK, March 11, 2020 -- HC2 Broadcasting, the broadcasting subsidiary of HC2 Holdings, Inc. (NYSE: HCHC), announces today the launch of the Cheddar News network on more.
Horizon Media and Altice USA (ATUS) announce today Performance+, a first-to-market, innovative product to help advertisers map business outcomes against their media spend throughout the entirety of the marketing funnel – a media mix that now can include integrated sponsorships and performance media across the Altice News family of networks in one unified package. In an industry first, Horizon and Altice USA have announced that the pricing of all sponsorship packages will be closely linked to business outcomes that they deliver for brands. “Our partnership with Altice USA allows us to bring our clients advertising solutions measured by business outcomes with integrated sponsorships on Cheddar, News 12, or i24 as part of one holistic offering,” said Stan Fields, EVP Chief Client Officer of Horizon.
Altice's (ATUS) fourth-quarter results reflect revenue growth in Residential and Business Services, but decline in News and Advertising.
High operating expenses might weigh on Lyft's (LYFT) Q4 results. However, the top line is likely to have benefited from strong growth in Active Riders.
High passenger revenues and moderate fuel costs are likely to have aided Copa Holdings'(CPA) fourth-quarter performance. However, the prolonged period of MAX groundings may have hurt results.
With solid demand across portfolio, driven by a comprehensive suite of services that reduces risks related to critical communications operations, Motorola (MSI) is likely to have recorded healthy top-line growth in the fourth quarter.
First-quarter fiscal 2020 revenues from the QCT segment of Qualcomm (QCOM) are likely to have declined due to prolonged trade war with China and price wars with cheaper alternatives.
First-quarter fiscal 2020 revenues of Qualcomm's (QCOM) QTL segment are likely to have increased due to seasonality factors and global patent licensing agreement with Apple Inc.