"We think it’s more likely that NFLX builds its ad offering on its own or through smaller M&A deals-similar to its gaming effort," they added. We do not think this would be well received by NFLX shareholders." "We’d be surprised if NFLX made an acquisition of this magnitude, essentially shifting the platform from no ads to ‘all-in’ on AVOD over the span of a few months. "NFLX’s ad efforts are still in the very early stages," the analysts wrote. In a note Wednesday morning, JPMorgan's Cory Carpenter and Doug Anmuth called the acquisition "highly unlikely," as it would usher in a massive shift to ad-supported video content at Netflix. Some major Wall Street firms have already cast doubt on such a tie-up, however.
Spokespeople at both Roku and Netflix told Yahoo Finance that they would not comment on rumors or speculation. Insider first reported Wednesday that internal discussions for the deal were taking place. Shares of Roku ( ROKU) jumped more than 12% intraday on Wednesday amid speculation that the company was holding talks to be acquired by Netflix ( NFLX). ET: Roku shares soar on reports Netflix is in talks to acquire the company Here were the main moves in markets at the close of trading on Wednesday: ET: Stocks break winning streak on Wednesday Consensus economists are looking for headline inflation to rise at a 8.2% annual rate for May, and by 5.9% excluding food and energy prices. The Bureau of Labor Statistics is poised to release its latest Consumer Price Index on Friday, which is expected to show inflation eased only marginally in May from April's elevated 8.3% rate. "Given the uncertainty the market has to discount, and not the least how corporate earnings will fare as the economy slows further, having a market that wobbles a bit before it makes up its mind is probably the healthiest course, at least for now," Krosby added. as it teeters between inching ahead and pulling back, suggests that until there's a more definitive reading on the inflation front coupled with the Fed's thinking on further rate hikes in September, we can expect this bounce back and forth," Quincy Krosby, chief equity strategist for LPL Financial, said in an email. Treasury Secretary Janet Yellen told senators on Tuesday that she expected inflation to remain high and reaffirmed that she saw price increases as being driven by Russia's war in Ukraine, the pandemic-era shift to goods purchases, and ongoing supply chain issues. The Federal Reserve remains in a quiet period ahead of its forthcoming policy-setting meeting next week, which is overwhelmingly expected to set the stage for the central bank to roll out a second 50 basis-point interest rate hike.Īnd other policymakers also reaffirmed that cooling red-hot inflation pressures remains a key priority. stock indexes have remained choppy overall as investors weighed individual company warnings on inflation and the macroeconomic backdrop against policymakers' efforts to bring down elevated prices.
Spotify ( SPOT) shares also gained over 6% after the company's investor day.ĭespite the early-week advances, the major U.S. Individual gainers on Wednesday included streaming company Roku ( ROKU), which gained over 9% following a report from Insider that suggested Netflix ( NFLX) could explore a bid for the company. All Rights Reserved.Shares of Scott's Miracle-Gro Company ( SMG) sank after the company became one of the latest retailers to slash guidance after building more inventory than its end users were demanding. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN.
Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.
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