Wells Fargo’s ‘Rare’ Downgrade Brings Fresh Pressure to Netflix Shares
Here are the technical levels we’re tracking as we break down the firm’s move.
Lots of News But Little Reaction as Market Yawns
The Dow held up on defensive strength while the Nasdaq lost 1%.
New Disney Price Target After Morgan Stanley Update
The entertainment giant has a clear path to a share price increase, according to Morgan Stanley.
We’re Tracking 28 Signals Across 10 of the Portfolio’s Strategies
Let’s scan through the headlines for the stories of the week that speak to our Pro Portfolio holdings.
U.S. and Iran, Deal or No Deal? 8 Key Items Shaping the Stock Market Wednesday
ISM’s Inflation data, SpaceX spending and Foxconn’s July revenue among the headlines shaping the market today/
Who Wants to Believe in Iran Talks? (The Markets Do); Big Earnings; Yen Plan
Let’s look at how Trump holds off big attack on Iran and the markets look optimistic, a joint plan for the yen, and earnings on tap for this week.
Oil Climbs; AMD Takes Stage; Google, Other Big Earnings on Tap
Iran fighting rages on; Advanced Micro Devices showcases at AI event; GM, Alphabet, IBM, Tesla, Lockheed Martin and American Express among names reporting.
Despite Semis Shock, the Market Remains Firmly Complacent
Do we bounce early and then go down again or do we just slide? That will tell traders a lot.
My View on Disney
Disney’s ($DIS) shares have sat out the multi-year bull market and we have sat out Disney.
Our analytical criticism is multi faceted:
* Admission prices at the company’s theme parks are absurdly high — a weakening consumer in the K-shaped economy will almost certainly experience demand elasticity (and a reluctance to attend the parks).
* Disney’s movie lineup is dated and continues to demonstrate disappointing box office sales. ‘Moana’ joins ‘Snow White’ as the latest live-action Disney film to bomb at box office | OutKick
* The company’s balance sheet is debt heavy from a slate of poorly conceived acquisitions. At worst, it could inhibit needed capital spending/expansion at parks, et al.
* AI remains a threat to a number of Disney’s businesses.
All this said, there is a price (and favorable reward vs. risk) for everything. I live under $90 for Disney.
Position: None
Dogs With Fleas
* Uber ($UBER)
* Disney ($DIS)
* Netflix ($NFLX)
Position: None