Romance Industry

Disney+'s 'Hamilton' gambit pays off, giving platform a big boost: Data

‘Hamilton’ is continuing to soar following its Disney+ debut with 80% of users tuning in to watch the Broadway phenomenon, according to research complied by 7Park Data.

Why Netflix Soared to All-Time Highs Yesterday

With so many people staying home during the COVID-19 pandemic and needing to entertain themselves, Netflix (NASDAQ: NFLX) has emerged as an inadvertent beneficiary of the public health crisis. Goldman Sachs released a bullish note on Friday, reiterating a conviction buy rating on the stock. The analyst believes that Netflix enjoyed record quarterly app downloads in the second quarter, with year-over-year growth in downloads hitting the highest levels since early 2016.

3 Top Entertainment Stocks to Buy Now

You'll find everything from undervalued giants to skyrocketing growth stocks in the entertainment sector right now.

AMC Amends Debt Deal in Move to Buy More Time and Raise Cash

(Bloomberg) -- AMC Entertainment Holdings Inc. and bondholders agreed to a debt overhaul that provides cash and time to repay its borrowings while it tries to withstand the shuttering of its movie theaters amid the pandemic.The company is asking holders of existing subordinated notes to swap for new second-lien secured notes due 2026 that would pay interest as 10% cash or 12% in the form of more notes, according to a statement.The offer covers four sets of existing notes that mature in 2024 through 2027, AMC said. Participants can also subscribe for a pro rata portion of new 10.5% first lien secured notes due 2026 that total $200 million.Silver Lake, the private equity firm that holds a board seat, also agreed buy an additional $100 million of the new first lien notes at 90% of face value, less a 2% arranger premium, AMC said.Investor SupportThe plan has support from investors who hold 73% of the principal of existing notes, which also represent a majority of the holders of each series of notes, AMC said. It extended the deal’s deadline until July 24.AMC had been trying for weeks to hash out an accord with stakeholders as it looks to raise cash, manage its more than $5 billion debt burden and avoid a potential bankruptcy. Companies in the entertainment and leisure industries are among those hardest hit by state and federal guidelines to stay at home.To manage its borrowings, AMC announced an initial debt exchange in June, asking some investors to swap their subordinated notes for the new 12% second lien secured bonds.The movie theater company is working with law firm Weil, Gotshal & Manges and investment bank Moelis & Co.AMC’s term loan due 2026 is quoted at less than 70 cents on the dollar, while its subordinated bonds hover around 30 cents, according to data compiled by Bloomberg and Trace.The largest movie theater chain in the U.S. and Europe, AMC reported a first-quarter loss of $2.18 billion. The company has delayed the reopening of most theaters in the U.S. as Hollywood studios repeatedly shuffle release schedules due to the pandemic.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.

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  AMC Entertainment Bondholder Deal Will Keep Chain Going Into Spring, Even In Worst-Case Scenario

  Deadline
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  AMC Nears Silver Lake Debt Deal, Setting Stage for Creditor Feud

  Bloomberg

S&P 500 Shoots Up 33 Points: Banks, Airlines, and Cruise Line Stocks Brush Off Record COVID-19 Cases on Gilead Treatment Update

Three of the most beaten-down groups of stocks led today's big day higher for stocks, as investors react to positive news about a potential treatment for COVID-19.

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  Dow's Rebound Strengthens As These Tech Stocks Cool Off; Is AMD Stock A Buy Again?

  Investor's Business Daily
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  Nasdaq Closes Near Record High With Help From This Surprising Sector

  Investor's Business Daily

AMC Entertainment Holdings, Inc. Announces Amended Exchange Offers and Consent Solicitations

AMC Entertainment Holdings, Inc. Announces Amended Exchange Offers and Consent Solicitations

Why Netflix Stock Was Surging Today

Netflix (NASDAQ: NFLX) shares were flying higher today after investors woke up to a full-throated endorsement from Goldman Sachs. Analyst Heath Terry raised his price target on the stock from $540 to $670, and once again said it was on his Conviction Buy list. With second-quarter earnings on tap next Thursday, Netflix shares have been rallying into record territory as analysts weigh in with mostly bullish calls ahead of the report.

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  Pretty Chill: Netflix Stock Hits All-Time High As Subscribers Hit Multi-Year High

  Benzinga
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  Dow Jones Set To Post Weekly Gain; Netflix Stock Soars To New Highs

  Investor's Business Daily

Nasdaq is 'moving faster than any train we've ever seen before': veteran strategist

The Nasdaq is like "a train that is moving faster than any train we've ever seen before,” says one veteran strategist.

Expecting Another Netflix Subscriber Growth Blowout, Analyst Hikes Price Target to $670

Netflix (NASDAQ: NFLX) may be playing it conservative by estimating it will add only 7.5 million new subscribers in the second quarter, less than half the number that signed up in the first, but Wall Street isn't buying it. Goldman Sachs (NYSE: GS) analyst Heath Terry says app downloads hit a record during the period as the streaming giant continued to add new content. The analyst also believes that analysts' consensus estimates for Netflix's earnings in the back half of 2020 and beyond are too low, so he's raised his price target on the streaming service provider to $670 a share, or 32% above where the stock closed Thursday.

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  Pretty Chill: Netflix Stock Hits All-Time High As Subscribers Hit Multi-Year High

  Benzinga
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  Netflix Stock Pops to New Record High on Exuberant Q2 Analyst Forecast

  Variety

Is Netflix a $670 Stock?

Investor enthusiasm is hitting a higher gear for Netflix (NASDAQ: NFLX) ahead of the streaming video giant's second-quarter earnings report on July 16. Shares pushed further beyond $500 on Friday after Goldman Sachs boosted its short-term price target to $670 per share to mark the highest such forecast from a Wall Street firm covering the stock.

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  Pretty Chill: Netflix Stock Hits All-Time High As Subscribers Hit Multi-Year High

  Benzinga
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  Dow Jones Set To Post Weekly Gain; Netflix Stock Soars To New Highs

  Investor's Business Daily

Bed Bath & Beyond Is Running Out of Options

The chain isn't on track to repeat winning omnichannel pivots from the likes of Target and Home Depot.

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  Bed Bath & Beyond 20% coupon: What shoppers need to know about the popular discount amid upcoming store closings

  USA TODAY
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  Bed Bath & Beyond To Close 200 Stores as the 2020 Retail Apocalypse Continues

  GOBankingRates

Invest $3,000 in These 3 Stocks Before the Next Market Crash

Some stocks have risen when the markets have faltered, and some of these business models are getting even stronger in the new normal.

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  DocuSign Is Performing Better Than Expected; Wedbush Lifts Price Target To $240

  Benzinga
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  Why DocuSign Stock Rose Today

  Motley Fool

2 Stocks to Buy if You're Worried About Another Market Crash

Here are two stocks that might do just that: Exelixis (NASDAQ: EXEL) and Netflix (NASDAQ: NFLX). Its revenue largely depends on just one product: Cabometyx, a tyrosine kinase inhibitor (TKI) that specifically targets cancer cells. This cancer drug is approved for the treatment of renal cell carcinoma (RCC), a type of kidney cancer, and hepatocellular carcinoma (HCC), a form of liver cancer.

These ‘epicenter’ stocks could surge higher, says analyst who called March bottom

Surging tech stocks are hiding the opportunity in some beaten-down names, says Fundstrat's Tom Lee.

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  What Are FANG Stocks, And Should You Invest In Them?

  Investor's Business Daily
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  Nearly every FAANG stock hits a record high as the rally in mega-cap tech continues

  Business Insider

Sony Invests $250 Million in Unreal Engine Maker Epic Games

(Bloomberg) -- Sony Corp. invested $250 million in Epic Games Inc., owner of the popular video game Fortnite and the widely used Unreal Engine for game development.The PlayStation maker and Fortnite proprietor didn’t disclose the new value of the games company. Bloomberg News first reported last month that Epic was close to securing funding at a valuation of about $17 billion.The Unreal Engine is used to create many popular game franchises, such as Borderlands and Gears of War, along with Epic’s own Fortnite. The fifth iteration, Unreal Engine 5, made its debut this summer and was demonstrated on PlayStation 5 hardware, signaling the close collaboration between Epic and Sony.Sony is preparing for the introduction later this year of the PlayStation 5, its first major game console release since 2013. Epic is primarily focused on games, but Tim Sweeney, its chief executive officer, said in a statement Thursday that he shares a vision with Sony of a “convergence of gaming, film and music.”Sony’s shares were up as much as 3.2% in Tokyo on Friday, approaching a 19-year high for the company.“Tim Sweeney has a track record of being able to sense which way the wind is blowing in gaming and he is tipping his hand that it’s blowing Sony’s way,” according to Mio Kato, an analyst at LightStream Research. The Unreal Engine is also used in the making of the Netflix Inc. series “The Mandalorian,” so it “blends nicely” with Sony’s interests in TV and movie production as well as gaming, Kato wrote in a note on Smartkarma.Fortnite has been an influential force in games and culture over the last few years. The game had more than 350 million players as of April, benefiting from the influx of people spending more time at home during the coronavirus pandemic. Quarantine has also been a boon for Houseparty, another Epic property, which allows people to chat over video and play games with their friends. Some 50 million users signed up to use the app in March and April.Read more: Fortnite, Rappers and the Billion-Dollar Pandemic Gaming Boom(Updates with Sony share price and Unreal Engine details from third 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.

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  Sony invests $250m in Fortnite-owner Epic Games

  The Telegraph
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  Sony (SNE) Ups the Game With Stake Purchase in Epic Games

  Zacks

SoftBank-Backed Coupang Buys Hooq Assets to Take on Netflix

(Bloomberg) -- South Korean e-commerce giant Coupang Corp. is buying the software of Hooq Digital Ltd., the Southeast Asian video streaming service owned by Singtel, Sony and Warner Bros that’s filed for liquidation, according to people familiar with the deal.Coupang has already struck a deal to acquire the assets, the people said, asking not to be named because the information hasn’t been announced.The deal ushers SoftBank-backed Coupang into a competitive but fragmented video streaming arena and pits it against the likes of Amazon.com Inc. and Netflix Inc. U.S. giants have emerged as frontrunners, squeezing out a number of domestic players with splashier local programming and fuller Hollywood slates. In a sign of accelerating consolidation, Tencent Holdings Ltd. recently agreed to buy the assets of Malaysian streaming platform iFlix Ltd. And last month, ride-hailing giant Gojek won funding from Golden Gate Ventures and other backers for its own video foray.Coupang, backed also by BlackRock Inc. and Sequoia Capital, has designs too on its own home market. Korea in recent years birthed blockbusters that captivated global audiences from “Parasite” to “Train to Busan,” yet Netflix and Alphabet Inc.’s Youtube remain dominant local players. South Korea’s government announced a plan last month to nurture five homegrown over-the-top or streaming service providers into global companies, and support their growth by expediting deals and investment in content.A Coupang representative declined to comment.Read more: Tencent Buys Assets of Struggling Streaming Platform IFlixHooq, a joint venture between Singapore Telecommunications Ltd., Sony Pictures Television Inc. and Warner Bros Entertainment Inc., filed for liquidation in March and discontinued service at the end of April. Set up in 2015, it offered movies and drama series across Singapore, the Philippines, Thailand, Indonesia and India, but ran into trouble during the pandemic.Coupang, widely regarded as South Korea’s Amazon, has been aggressively expanding into new businesses such as food delivery and digital payments, mirroring the U.S. giant by broadening its services. The Seoul-based company, founded in 2010 by Chief Executive Officer Bom Kim, was said to be valued at $9 billion in late 2018 and has been eyeing a public listing as early as next year, Bloomberg News reported in January.Buoyed by the growth in subscribers to its delivery service, sales at the startup rose to a record 7.15 trillion won ($5.9 billion) in 2019.Read more: Coupang Grew Revenue 64% in Boost For SoftBank’s Startup Cred(Updates with details on Asian market from the third 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.

Dow Jones Futures: In This Coronavirus Stock Market Rally, Go APE; Apple, Amazon, Tesla, Netflix In Focus

The coronavirus stock market rally is going great, with big-cap techs soaring. Here's what investors need to do now.

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  Stock Market News for Jul 10, 2020

  Zacks
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  Dow Jones Set To Post Weekly Gain; Netflix Stock Soars To New Highs

  Investor's Business Daily

Netflix pulled off a showstopper early in the pandemic, but will the sequel deserve the price?

The runaway success of streaming services during the pandemic leads to the invariable entertainment-tinged question: What does Netflix do for an encore?

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  Even during pandemic beekeeping remains an essential service

  Associated Press
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  Private aviation sees demand surge during coronavirus

  Yahoo Finance Video

Was Hedge Funds’ Crystal Ball Right About The Hershey Company (HSY)?

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]

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  Did Hedge Funds Make The Right Call On Elanco Animal Health Incorporated (ELAN) ?

  Insider Monkey
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  Did Hedge Funds Make The Right Call On Hilton Grand Vacations Inc. (HGV) ?

  Insider Monkey

With Theaters Closed, Big Movie Premieres Shift To Netflix, Other Streamers

With movie theaters closed because of the coronavirus pandemic, the big Hollywood film premieres this summer are happening on Netflix, Disney+ and other streaming video services.

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  Netflix Stock Pops to New Record High on Exuberant Q2 Analyst Forecast

  Variety
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  Pretty Chill: Netflix Stock Hits All-Time High As Subscribers Hit Multi-Year High

  Benzinga

Top Netflix Shareholders

The top shareholders of Netflix are Leslie J. Kilgore, David Hyman, Greg Peters, Capital Research Group, Vanguard Group, and BlackRock.