Friday’s Headlines: Netflix Lands Spider-Man Movies
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Nautilus (NLS) +6.6%
Zillow (Z) +6.4%
Planet Fitness (PLNT) +5.8%
Etsy (ETSY) +5.6%
Moving Down ⬇️
Tripadvisor (TRIP) -2.3%
Nike (NKE) -2.1%
Ford Motor Company (F) -1.7%
DraftKings (DKNG) -1.6%
1. Netflix (NFLX) just scored the streaming rights to ‘Spider-Man’! Starting next year, all movies released by Sony Pictures will stream exclusively on the streaming service following their theatrical showings and home entertainment releases. As part of the deal, Sony will also give Netflix a first look at the movies it's thinking of taking straight to streaming. This move is a big win for Netflix as it gives the streaming service exclusive content to films with a large fanbase and it’s also a victory against Disney+, which owns part of the Marvel franchise with Sony. Read more on the story here.
2. Over in Alabama, Amazon (AMZN) held a lead in the closely-watched union election yesterday evening. Half of the 3,215 ballots casted have been counted so far, including 1,100 votes against unionization and 463 votes in favour, putting the e-commerce giant ahead by more than a 2-1 margin. Some workers at the Bessemer warehouse are trying to become the first Amazon employees to be unionized and would be represented by the Retail, Wholesale and Department Store Union. A union vote would mean that Amazon would not have complete control over its operations, meaning the company could be forced to pay higher wages, add safety features to its warehouses, or many other costly changes. Check out the full story here.
3. It seems beer and wine were particularly popular drinks last quarter, helping Constellation Brands (STZ) smash earnings expectations on Thursday. The Corona brand-owner reported diluted net earnings of $1.95 per share, down 5.3% year-over-over, but ahead of analysts forecasts of $1.56 per share. Thanks to strong beer sales and improving margins for expensive wines, total revenues rose 3% to $1.95 billion, beating Wall Street’s estimates of $1.9 billion. Despite the impressive earnings beat, Constellation Brands shares were down 4.6% after the call due to a downbeat full-year forecast. The outlook for the year included an estimated net sales growth of between 7% and 9% for the company’s beer segment. See the full earnings report here.