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Follow this list to discover and track stocks that have gained the highest number of new hedge fund holders in the last quarter.
The Walt Disney Company
Lockheed Martin Corporation
Occidental Petroleum Corporation
Spotify Technology S.A.
Twenty-First Century Fox, Inc.
VICI Properties Inc.
Tradeweb Markets Inc.
Cypress Semiconductor Corporation
Coupa Software Incorporated
Zayo Group Holdings, Inc.
Pivotal Software, Inc.
BJ's Wholesale Club Holdings, Inc.
Hutchison China MediTech Limited
Advanced Disposal Services, Inc.
Biohaven Pharmaceutical Holding Company Ltd.
Silk Road Medical, Inc
Homology Medicines, Inc.
U.S. stocks were mostly higher Wednesday as investors weighed a report on a sticking point to U.S.-China trade agreements against earlier congressional testimony from Federal Reserve Chair Jerome Powell.
Wall Street had a lot to digest Wednesday: Congressional testimony by the head of the Federal Reserve, a possible setback for the U.S.-China trade deal, and the start of impeachment hearings on Capitol Hill. Still, The Dow and S&P 500 managed to set fresh record closing highs but the Nasdaq inched lower. Federal Reserve Chairman Jerome Powell told lawmakers the economy was in good shape and he saw no reason why the record-long 11-year expansion without a recession was near an end. His testimony came on the same day a report showed consumer prices jumped the most in seven months, but remained below the Fed's two percent target. That helped offset investor unease surrounding the U.S.-China trade deal that has yet to be signed. Negotiations between the world's two biggest economies have hit a snag over farm purchases, according to the Wall Street Journal. Ross Gerber is CEO of Gerber Kawasaki. SOUNDBITE (ENGLISH) GERBER KAWASAKI CEO ROSS GERBER, SAYING: "It's clear that the markets and the economies of the world want resolution, want tariffs removed and so any hint that this deal might not get done is going to put pressure on stocks. There is no question." Shares of Walt Disney jumped to an all-time high. There were more than 10 million sign-ups for video streaming service Disney+ in just one day. The entertainment conglomerate was the best performing stock in the Dow and S&P 500. By the way, shares of Netflix were down. Also on the downside, SmileDirectClub was the most recent IPO to disappoint during this earnings season. The teeth alignment company not only posted a bigger quarterly loss, it also warned of even more losses this year. The stock saw almost 20 percent of its value wiped away.
Disney announced on Wednesday that its new streaming service, Disney+, has already reached 10 million sign-ups since launching the day before. The news sent Disney shares soaring to an all time high. Its solid start - despite a technical glitch on its debut - appears to establish Disney a leading player in the streaming wars that pit the company against Netflix, Amazon Prime Video, HBO and newcomer Apple TV. But while Disney's day one numbers were more than three-times the size of what analysts were expecting, it wasn't immediately clear how many of those were from free promotions. Like the offer it made to all new and existing Verizon customers that they were eligible for a free, one year-subscription to Disney+. The company has told investors it plans to reach 60 to 90 million subscribers globally within 5 years, as it competes for customers in a market dominated by Netflix. The streaming giant (Netflix) currently has over 60 million subscribers in the United States and 158 million globally.
Bob Iger’s new book is packaged like a standard businessperson success story, but it contains a lot of surprisingly candid reflections, and quite a few news nuggets.
Roku stock has already recovered from its post-Q3 earnings release selloff after bullish streaming TV investors snatched up a perceived buying opportunity. But the streaming TV stock might have even more room to run...
(Bloomberg) -- Activist investor Carl Icahn said Occidental Petroleum Corp.’s new target for assets sales won’t be achieved without a “fire sale” that includes its pipeline system, Western Midstream Partners LP, which was already shopped to potential buyers earlier this year.Occidental’s Chief Executive Officer Vicki Hollub said Wednesday in a statement she was “highly confident” the company will exceed the upper end of its $10 billion to $15 billion asset sale plan by the middle of 2020. The oil producer also said it had closed its joint venture with Ecopetrol, raising $1.5 billion in cash and carried capital, and announced $200 million of non-core asset sales.The new timing should be a “slight positive” for Occidental stock because it’s six months ahead of schedule, Leo Mariani, an analyst at KeyBanc Capital Markets Inc., said in a note.Icahn disagreed. The investor, who’s planning a proxy battle for Occidental next year, said in an interview Hollub’s new sales target and the promise of dividend growth “clearly takes stockholders and the market for fools.” Icahn has said he recently reduced his stake in Occidental to 23 million shares, worth roughly $900 million. He owned 33 million shares, or 3.7%, as of June 30, according to data compiled by Bloomberg.“Results are not achieved through endless repetition,” he said. “Instead, they require disciplined and prudent decision-making from the start, which certainly hasn’t occurred here.”A representative for Occidental didn’t immediately respond to a request for comment.A key to beating Hollub’s target is the potential sale of Occidental’s stake in Western Midstream, a pipeline system it inherited in the Anadarko takeover that has a market value of $8.7 billion. The oil producer said it expects to close a “deconsolidation” of Western Midstream by the middle of 2020 along with “the value acceleration of non-strategic or non-core upstream and midstream assets.” The bulk of the asset sale target is made up of an $8.8 billion sale of Anadarko’s African assets to Paris-based Total SA, agreed to in May.Icahn said he believed Hollub assumed Western Midstream was worth more than $15 billion because that’s the valuation she paid for it. “She certainly didn’t do her homework when she bought it from Anadarko,” Icahn said. “Its purchase price valuation is turning out to be a fiction.”The billionaire investor said last week he was planning to launch a proxy fight at Occidental after its $37 billion takeover of Anadarko Petroleum Corp. earlier this year. The billionaire argued the deal, which did not go before a shareholder vote, has put the company’s financial future, including its dividend, at risk if oil prices falter.Shares in Occidental fell about 0.8% in New York to $38.12 a share, giving the company a market share of roughly $34 billion.Hollub said in the statement that she has made debt reduction and protecting Occidental’s dividend her “top priorities” following the Anadarko takeover. The stock is trading at the lowest in about 14 years as investors balked at the amount of borrowing needed to complete the deal, and then questioned whether Occidental can produce enough oil to manage the debt burden.“Hollub and her board should be on notice. Stockholders are watching and fire sales will not be tolerated,” Icahn said, adding that investors will not allow the company to pay down debt “by further punishing stockholders.”To contact the reporters on this story: Scott Deveau in New York at firstname.lastname@example.org;Kevin Crowley in Houston at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Christine Buurma, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Gone are the heady days of 2018 when Netflix Inc. was briefly worth more than entertainment heavyweights Walt Disney Co. and Comcast Corp.Disney’s market value at $268 billion is now twice that of Netflix’s after a recent surge fueled by optimism about its rival streaming service. Disney shares rose 7.4% to a record on Wednesday after reporting that 10 million customers subscribed to its Disney+ service, which debuted on Tuesday.Netflix has seen its market value fall to about $124 billion from a record $182.1 billion in July 2018 amid slowing revenue growth and increasing competition. Comcast Corp. has a market value of $206 billion.To be sure, Disney’s market value increase was aided by its $71 billion acquisition of 21st Century Fox Inc.’s entertainment assets. The deal was completed in March.(Updates shares in second paragraph, notes Fox acquisition in last paragraph.)To contact the reporter on this story: Jeran Wittenstein in San Francisco at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Microsoft Corp. is sending representatives to a series of meetings with Pentagon officials Wednesday to discuss how companies can contribute to the military’s work on artificial intelligence, according to a list of participants reviewed by Bloomberg. Microsoft is the only Big Tech company set to attend the event, which is likely to draw objections from employees and protesters who have broad concerns about the use of AI for military purposes.About 140 companies and organizations are on the list of attendees, which includes Boeing Co., International Business Machines Corp. and Lockheed Martin Corp. Anduril Industries Inc., a new startup from former Facebook Inc. executive Palmer Luckey, will also be there. The defense contractor began working this year on Project Maven, a technology unit of the Pentagon whose official name is the Algorithmic Warfare Cross-Functional Team.For the last two years, Maven has been at the center of a contentious public debate over the technology industry’s willingness to help build military technology. The project uses computer vision software to automatically analyze footage gathered by U.S. military drones. Google, an early participant in Maven, said last summer it would stop working on the project, following protests from employees who said the work strayed too closely to autonomous weaponry. Employees at Clarifai, a small computer vision startup, also objected to Maven, although that company continued to work on the project. It is on the list of attendees for this week’s meetings, which are co-hosted by Maven officials.Wednesday’s event is billed as an “AI Industry Day,” and the stated goal is to develop AI technology to assist soldiers in the field. The government said it is particularly interested in facial recognition, natural language processing, social media data and drone footage.Microsoft has made significant inroads with its military business over the last year. It won a contract a year ago worth as much as $480 million to build combat-ready versions of its HoloLens augmented reality headsets. Last month, it also won a $10 billion contract called Joint Enterprise Defense Infrastructure, or JEDI, to build cloud computing infrastructure for the Defense Department.Both contracts inspired criticism from Microsoft employees who said they hadn’t signed up to build weaponry. The company’s executives have consistently said they would not step back from working with the U.S. military. In a meeting with employees the week after the company won the JEDI contract, Microsoft Chief Executive Officer Satya Nadella said he respected dissenting opinions but that the company had always been unambiguous about its military work, according to a person who attended and asked not to be identified discussing a private event. A Microsoft spokesman declined to comment. Microsoft’s ties to government work have caused controversy in other areas, too. Workers at Microsoft’s GitHub unit have asked the company to cancel a contract with the U.S. Immigration and Customs Enforcement agency. On Wednesday morning, a group of protesters gathered at a GitHub conference in San Francisco to draw attention to the issue.The Defense Department has put increasing focus on AI in recent years. It sees the technology as key to geopolitical competition with China. But building it has come with challenges. U.S. officials have spoken openly about tensions in the military’s relationship with tech companies.“Some employees in the tech industry see no compelling reason to work with the Department of Defense,” Lieutenant General Jack Shanahan, the head of the Pentagon’s Joint Artificial Intelligence Center, said at an event last week. Their reluctance, he said, often came from the government’s inability to adapt to the pace of the private sector: “We don’t make it easy for them.”(Updates with GitHub protests in the seventh paragraph.)To contact the author of this story: Joshua Brustein in New York at email@example.comTo contact the editor responsible for this story: Mark Milian at firstname.lastname@example.org, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Biohaven Pharmaceutical Holding Co. is readying for what Chief Executive Officer Vlad Coric calls a “David versus Goliath” showdown with large-cap competitor Allergan Plc in a race to sell a new class of migraine medicines.A potential first-quarter approval of Biohaven’s rimegepant, a medicine that has shown clinical success in treating migraines, would place it behind competitor Allergan’s expected approval next month. However, publications in the New England Journal of Medicine and the Lancet medical journals paired with plans to use direct-to-consumer advertising may give Biohaven a leg up, Coric said.“Telemedicine, e-commerce, social media; we’re going to incorporate a modern day launch with a traditional launch as well,” Coric said in an interview at Bloomberg’s New York headquarters on Tuesday. “If you’re prepared to run your business -- that will also open up a lot of optionality,” Coric added, when asked about plans for potential partnerships or deals to better compete with larger peers.Coric said a potential partnership or deal would have to be more than an “incremental” step as the company looks to “build value year-over-year,” he said.Biohaven -- long the subject of deal speculation, including a Bloomberg report in April that the company was exploring a sale -- has continued to build out a commercial team for the migraine drug. The New Haven, Connecticut-based company elected to raise roughly $300 million in a June public share offering to help bolster its cash reserves as it makes the jump from development to commercialization.Upcoming results from a migraine prevention study of rimegepant could also position the company better to compete with Allergan as the maker of Botox gets closer to completing its sale to AbbVie Inc., according to Coric. If the results are positive in the coming months, “that would give patients one dose of one drug” to help both treat and prevent migraine attacks, he said.Coric wants investors who may be focused solely on the regulatory decision for the company’s migraine drug to know that Biohaven will have data from other later-stage assets in the coming months. If successful, results from troriluzole in Alzheimer’s disease and generalized anxiety disorder may offer the drugmaker an opportunity to “transform,” he said.To contact the reporter on this story: Bailey Lipschultz in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Cristin Flanagan, Jeremy R. CookeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com – In a tale of two stock markets, the Dow surged to new intraday and closing highs, while the other major indexes struggled.
The Australian dollar has initially tried to rally during the trading session on Wednesday, but rolled over significantly, reaching towards the 0.68 level. Beyond that, there is also a major technical indicator right there.
From understanding your risk tolerance to maintaining emotional control, achieving your retirement goals takes a much different investing approach than regular stock trading.
The Zacks Analyst Blog Highlights: Booking, Allergan, Honda Motor, Infosys and Activision Blizzard
Investing.com – Stocks were rising modestly Wednesday on gains for Walt Disney (NYSE:DIS) and Federal Reserve Chairman Jerome Powell's assertion that the central bank can leave interest rates alone for a while. But concerns about the China-U.S. trade dispute was keeping gains in check.
Investing.com – Disney said Wednesday its Disney+ plus streaming service surpassed 10 million subscribers on its debut yesterday, sending shares to session highs.
FT subscribers can click here to receive Moral Money every Wednesday by email. Welcome to Moral Money. This week we have: A brewing fight among ESG standard-setters $10bn worth of impact — from coffee ...
(Bloomberg Opinion) -- Netflix Inc. broke the cable-TV bundle. Now it’s time to put it back together again, and cable giants like Comcast Corp. look eager to help.It’s true that streaming has created more choices for consumers. You don’t necessarily need to subscribe to a $100-a-month cable package just to access kid-friendly Disney programs or re-runs of “The Big Bang Theory” (or pay extra for the ability to DVR the episodes you’ll miss). There are on-demand apps for both of those now — Disney+, which launched on Tuesday, and HBO Max, which becomes available in May. At the same time, one major consequence of the streaming wars is that they’ve caused a new kind of consumer frustration. It feels like everything is becoming segregated across various services with their own individual paywalls. That requires knowing which TV programs and movies reside where, having to toggle among those different apps — which isn’t as smooth as simply channel-surfing — and managing multiple monthly subscriptions. Sign up for enough of them, and it can easily add up to the cost of good old cable, especially given that a strong internet connection is a necessary component. It’s a situation that’s unsustainable, and already the media and cable giants seem to be eyeing the reintroduction of bundles to make things easier on consumers (and to make their subscriptions stickier).As Comcast’s Matthew Strauss put it, "The great un-bundling could give birth to the great re-bundling.” He should know. Strauss is the former executive vice president of Comcast's Xfinity Services; he was recently put in charge of Peacock, the company’s own streaming product set to launch in April with content provided by its NBCUniversal sports and entertainment division. It will join Netflix, Disney+, Apple TV+, Amazon Prime Video, HBO Max and many more in the new streaming marketplace."How could someone possibly navigate all these apps? That's not how you watch TV,” Strauss said in a phone interview in September. “My prediction is that we're going to come full circle."Strauss and I were on the topic because Comcast had just made something called Xfinity Flex free to customers who subscribe to the company’s internet services but not its cable-TV packages. Flex is essentially a dashboard where users can access streaming subscriptions. It’s a lot like the home screen shown when powering up a Roku, Apple TV or Amazon Fire TV Stick — a display of tiles teasing different programs or services. The Xfinity X1 cable service is still front and center for Comcast, but Flex is a sign that the company is at least exploring how to cater to what may some day be a mostly internet-only customer base. While it may not be a bundle, it’s not hard to make the leap and envision a day when Comcast tries to offer bundles of streaming apps to its internet subscribers, serving as the go-between for programmers and customers just like it does in the cable world. Walt Disney Co. is already providing some evidence that it’s thinking the same way. As I noted in my column Tuesday, the entertainment giant recognizes that many viewers want more than a single app dedicated to superhero flicks and G-rated content. That’s why, alongside the launch of Disney+, it also began offering a $13-a-month bundle that tacks on Hulu and ESPN+. While Apple Inc.’s own original works such as “The Morning Show” can be watched with an Apple TV+ subscription, the company also has separately taken to aggregating rival apps in Apple TV Channels, where users can sign up on an a-la-carte basis. Similarly, Amazon.com Inc. has Prime Video and Amazon Channels. These aggregation efforts could all be precursors to bundling.Charter Communications Inc. CEO Tom Rutledge, during a September investor conference, discussed the challenges for so-called direct-to-consumer businesses — such as Disney+, CBS All Access, and so on — that traditionally haven’t had to deal directly with subscribers because the cable giants had typically maintained those relationships. Suddenly, programmers are having to handle billing and service issues and come up with customer-retention strategies. (Disney got a taste of this Tuesday, when its brand-new app was hit by technological glitches.) “All of those activities we do on behalf of traditional pay-TV vendors,” Rutledge said. It’s very hard to get “economies of scale in the direct-to-consumer marketplace like we’ve gotten out of the historic business.” That certainly sounds like someone who’s ready to negotiate some new distribution partnerships. Direct-to-consumer is industry jargon referring to how a streaming app bypasses the traditional distributors — flying directly past Charter and Comcast to the end user. So wouldn’t it be something if the winners of the streaming wars turned out to be none other than the cable companies? At the very least, remnants of their bundling model are sure to live on in streaming.To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Walt Disney said on Wednesday that more than 10m people have signed up to its new video streaming service, only a day after its launch, wowing investors and sending its shares sharply higher. The company, the largest media group in the world, did not specify how many of the 10m were signing up to free trials for its Disney+ service, but the number was higher than Wall Street analysts had expected.