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Tag: Walt Disney Co

  • These 10 stocks saw double-digit gains and outperformed November's strong market

    These 10 stocks saw double-digit gains and outperformed November's strong market

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    Traders work on the floor of the New York Stock Exchange during morning trading on Nov. 1, 2023.

    Michael M. Santiago | Getty Images

     November was a stellar month for Club stocks.

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  • JPMorgan CEO Jamie Dimon to business leaders: ‘Help Nikki Haley’

    JPMorgan CEO Jamie Dimon to business leaders: ‘Help Nikki Haley’

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    JPMorgan CEO Jamie Dimon has a message for some of the world’s wealthiest corporate leaders: Help Nikki Haley’s presidential campaign.

    “Even if you’re a very liberal Democrat, I urge you, help Nikki Haley, too. Get a choice on the Republican side that might be better than [Donald] Trump,” Dimon said Wednesday at a conference hosted by The New York Times’ DealBook franchise.

    Present in the audience for Dimon’s remarks was a who’s who of Wall Street titans, including hedge fund veteran Bill Ackman. Billionaire Tesla CEO Elon Musk, media titan David Zaslav and Disney CEO Bob Iger were all scheduled to speak later in the day.

    Dimon was clearly addressing his remarks to the people in the room, and not to all liberal Democrats.

    The comments come as Haley is riding a wave of new support from key big money political backers. On Tuesday, the political network financed largely by billionaire Charles Koch formally endorsed the former governor of South Carolina.

    Haley told CNBC’s Squawk Box that she and Dimon spoke by phone recently about the state of the economy. Dimon has a net worth is $1.8 billion, according to Forbes.

    At the Dealbook conferene, Dimon stopped short of saying the Republican presidential nominee should be anyone but Trump.

    “I would never say that, you know, because he might be the president and I have to deal with him too,” said Dimon.

    Haley’s current momentum extends beyond Wall Street. A recent CNN poll showed 42% of likely GOP primary voters in the key primary state of New Hampshire supported Trump, with Haley in second place, getting 20%. For Haley, that’s an 8-point increase since the last CNN/University of New Hampshire poll in September.

    Florida Governor Ron DeSantis was in fourth place in that poll at 9%, behind former New Jersey Gov. Chris Christie’s 14%.

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  • Hunger Games prequel, ‘Napoleon’ lead as Thanksgiving box office shows signs of life

    Hunger Games prequel, ‘Napoleon’ lead as Thanksgiving box office shows signs of life

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    Tom Blyth and Rachel Zegler star as Coriolanus Snow and Lucy Gray Baird in Lionsgate’s “Hunger Games: The Ballad of Songbirds and Snakes.”

    Lionsgate

    This year’s Thanksgiving box office was both feast and famine for the theatrical industry.

    Lionsgate’s “Hunger Games: The Ballad of Songbirds and Snakes” had a solid second week run in cinemas, generating an estimated $42 million for the five-day Thanksgiving frame and Apple’s “Napoleon,” an R-rated war epic distributed by Sony, snared around $32.5 million.

    Meanwhile, Disney’s latest animated feature “Wish,” which celebrates the company’s 100th anniversary, fell startlingly short of box office expectations, tallying just $31.7 million over its first five days in theaters. Analysts had foreseen an opening of $45 million to $55 million for the five-day period.

    “It wouldn’t be a holiday box office season without some occasional upsets and this weekend is delivering on that front,” said Shawn Robbins, chief analyst at BoxOffice.com. “‘Napoleon’ is a solid win for Sony, Apple, theaters and moviegoers all around. Another successful adult-driven film was needed right now after the vacancy left behind by ‘Dune: Part Two’ and the light holiday calendar still ahead.”

    Top Thanksgiving box office titles (five-day)

    • “Hunger Games: The Ballad of Songbirds and Snakes” (Lionsgate) — $42 million
    • “Napoleon” (Apple/Sony) — $32.5 million
    • “Wish” (Disney) — $31.7 million
    • “Trolls Band Together” (Universal) — $25.3 million
    • “Thanksgiving” (Sony) — $11.13 million
    • “The Marvels” (Disney) — $9.2 million
    • “The Holdovers” (Focus Features/Universal) — $3.75 million
    • “Saltburn” (Amazon MGM/Warner Bros. Discovery) — $2.72 million
    • “Next Goal Wins” (Disney) — $2.57 million
    • “Five Nights at Freddy’s” (Universal) — $2.5 million
    • Taylor Swift’s Eras Tour concert film (AMC) — $2.33 million

    ** All figures are estimated by studios

    Yet, the underperformance of “Wish” continues to call attention to issues over at Disney’s animation studios, which have struggled to lure audiences back to theaters since the pandemic. For comparison, Universal’s “Trolls Band Together” managed to snag $25.3 million for the five-day period and it was the film’s second week in theaters.

    “Disney’s ‘Wish’ is struggling to reach even the most conservative of expectations,” said Robbins. “It is a performance that again highlights the studio’s long road ahead to rebuild brand and audience confidence while making their films stand out as theatrical events again rather than have them be cannibalized by the impact of flailing streaming-focused strategies.”

    Overall, the Thanksgiving box office secured around $172 million, an improvement over the previous three years of pandemic-pressured ticket sales. Prior to the coronavirus outbreak, the five-day Thanksgiving spread — consisting of the Wednesday before Thanksgiving through Sunday — had resulted in more than $250 million in ticket sales each year. 

    Thanksgiving 5-day frame over the last decade

    • 2023 — $172 million (estimated)
    • 2022 — $122.8 million
    • 2021 — $142.7 million
    • 2020 — $21.4 million
    • 2019 — $263.4 million
    • 2018 — $315.6 million (biggest all-time Thanksgiving frame)
    • 2017 — $270.5 million
    • 2016 — $260.8 million
    • 2015 — $258.5 million
    • 2014 — $230.2 million
    • 2013 — $294.2 million

    Source: Comscore

    “This important period of Thanksgiving moviegoing has been solid though not earth-shattering,” said Paul Dergarabedian, senior media analyst at Comscore. “This week’s performance is encouraging for the industry, though at under $200 million, the total box office has not returned to the heyday years of pre-2020 levels.”

    Still, Dergarabedian noted that the Thanksgiving box office offered moviegoers an eclectic selection of films across genres and age demographics, something that has been lacking in recent years.

    “Overall, this is a positive step forward for Thanksgiving box office moviegoing traffic as the industry continues to learn how to navigate a rapidly evolving marketplace,” said BoxOffice.com’s Robbins.

    Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal distributed “The Holdovers,” “Trolls Band Together” and “Five Nights at Freddy’s.”

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  • Elon Musk’s X apocalyptic moment

    Elon Musk’s X apocalyptic moment

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    Is this the beginning of the end for X, the social-media site previously known as Twitter?

    In the last two days, major advertisers, ranging from IBM Corp. IBM, Apple Inc. AAPL, Lions Gate Entertainment Corp. LGF.A, Walt Disney Co. DIS, even the European Union, have pulled their ads from X, after Elon Musk appeared to endorse antisemitic conspiracy theories and because these big spenders weren’t thrilled with the algorithm’s product placement nestled alongside pro-Nazi posts.

    Earlier…

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  • Disney, Warner Bros., Comcast, Paramount Global are the latest to pull ads from Elon Musk’s X

    Disney, Warner Bros., Comcast, Paramount Global are the latest to pull ads from Elon Musk’s X

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    Add Walt Disney Co. DIS, Warner Bros. Discovery Inc. WBD, Comcast Corp. CMCSA and Paramount Global PARA to the growing list of major brands pausing advertising on Elon Musk’s embattled X. Lions Gate Entertainment Corp. LGF.A also said it would be pulling ads, just as its Hunger Games prequel is hitting movie theaters. The media giants follow Apple Inc. AAPL and IBM Corp. IBM who halted marketing — and tens of millions of dollars a year — as Musk faces blowback over antisemitic abuse on his social media platform as well as his own comments.

    …

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  • CNBC Daily Open: Slowing demand means fewer revenue beats

    CNBC Daily Open: Slowing demand means fewer revenue beats

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    Signage for the “Disneyland City Hall”, in Disneyland Paris, in Marne-la-Vallee, east of Paris, on October 16, 2023.

    Ian Langsdon | Afp | Getty Images

    This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

    What you need to know today

    Streak continues, sans Dow
    Major U.S. indexes continued their blistering winning streak Wednesday — except for the Dow Jones Industrial Average, which snapped a seven-day streak. Asia-Pacific markets mostly rose Thursday. Japan’s Nikkei 225 climbed around 1.5% and South Korea’s Kospi added 0.5% after dropping 3.24% in the last two sessions, wiping out more than half of its gains earlier in the week.

    Prices slump in China
    Fresh data from China’s National Bureau of Statistics showed the country continuing to struggle with deflationary pressures. China’s consumer price index for October declined 0.2% year on year, more than the 0.1% drop predicted. Producer prices also fell 2.6% — though it’s smaller than the expected 2.7% decline.

    Disney pluses subscribers
    Disney’s shares jumped around 3% in extended trading after the company reported quarterly earnings. Earnings per share came in at 82 cents, higher than the expected 70 cents. Total Disney+ subscribers, at 150.2 million, also beat forecast by more than 2 million. But the firm’s revenue fell short of estimates — its second consecutive miss — even as quarterly revenue increased 5% to $21.24 billion year on year.

    Weakness in Arm
    Arm reported earnings for the first time after its initial public offering. The semiconductor licensing company had a net loss of $110 million, but that’s because of a one-time share-based compensation of more than $500 million. Revenue, on the other hand, was up 28% year on year, as licensing sales jumped 106%. Still, shares sank 6.8% after the bell on weak guidance for the current quarter.

    [PRO] ‘Fallen angels’
    The bond market’s in its worst state in 200 years, according to BNP Paribas’ global chief investment officer. But one corner of the market — known as “fallen angels” — presents an opportunity for 8% yield at a relatively low risk-reward ratio, the analyst said. CNBC Pro screened for top-rated funds under that criteria and came up with a list of ‘fallen angels’ that might provide soaring returns.

    The bottom line

    Earning season’s winding down, and it’s been mostly a good one so far.

    Out of the approximately 88% of companies in the S&P 500 have reported results, more than 88% have surpassed earnings estimates. However, only 62% have beaten revenue expectations. This suggests slowing demand is catching up with companies — but they’ve so far managed to expand their margins by cutting costs.

    With hard-hitting reports from Disney and Arm coming in after the bell and no major economic data released, major indexes had a tepid day. Trading volume was lower than the 30-day average.

    Nonetheless, the S&P 500 managed to inch up 0.1%, its eighth straight day of gains, and the Nasdaq Composite ticked up 0.08% for its ninth positive session. The last time both indexes enjoyed such uninterrupted gains was in November 2021. But the Dow Jones Industrial Average snapped its best winning streak since July with a 0.12% drop yesterday.

    This lull in news’ only temporary. Federal Reserve Chair Jerome Powell will speak about monetary policy Thursday and October’s consumer price index reading comes out next Tuesday. Those events will serve as the next major catalysts for stocks, said AXS Investments CEO Greg Bassuk. And though it’s admittedly a very long shot, we’ll see, then, if (the surviving) major indexes manage to extend their winning streak — or precipitate a new fall.

    But for investors hoping to time markets and reap quick gains on those events, CNBC’s Bob Pisani has a warning. “The idea that you can predict the future direction of stock prices, and act accordingly — is not a successful investing strategy,” Pisani writes. “The key to investing is not market timing” — it’s giving yourself time in the market.

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  • CNBC Daily Open: Earning’s better than revenue this season

    CNBC Daily Open: Earning’s better than revenue this season

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    Visitors wearing emblematic Mickey and Minnie Mouse ears look on, in front of the Sleeping Beauty-inspired castle at Disneyland Paris, in Marne-la-Vallee, east of Paris, on October 16, 2023. characters.

    Ian Langsdon | Afp | Getty Images

    This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

    What you need to know today

    Streak continues, sans Dow
    Major U.S. indexes continued their blistering winning streak Wednesday — except for the Dow Jones Industrial Average, which snapped a seven-day streak. Europe’s regional Stoxx 600 rose 0.28%, lifted by strong earnings reports. Marks and Spencer shares popped 8.39% on the back of a solid first half of the year, while Dutch wind turbine manufacturer Vestas surged 9.8% after beating profit expectations.

    Disney pluses subscribers
    Disney’s shares jumped around 3% in extended trading after the company reported quarterly earnings. Earnings per share came in at 82 cents, higher than the expected 70 cents. Total Disney+ subscribers, at 150.2 million, also beat forecast by more than 2 million. But Disney’s revenue fell short of estimates, even as it increased 5% to $21.24 billion compared with the same period a year earlier.

    Weakness in Arm
    Arm reported earnings for the first time after its initial public offering. The semiconductor licensing company had a net loss of $110 million, but that’s because of a one-time share-based compensation of more than $500 million. Revenue, on the other hand, was up 28% year on year, as licensing sales jumped 106%. Still, shares sank about 8% after the bell on Arm’s weak guidance for the current quarter.

    Fresh AT1s from UBS
    UBS started selling U.S. dollar Additional Tier 1 bonds Wednesday, with a five-year bond offering around 10% yield and a 10-year around 10.125%, according to LSEG news service IFR. Why’s this newsworthy? Because $17 billion worth of AT1 bonds were wiped out when UBS took over Credit Suisse in March, causing an uproar among bondholders — and continuing to pose legal challenges.

    [PRO] A short-cover rally?
    Stock markets are enjoying their longest winning streak in two years. But some analysts are worried that November’s blistering start isn’t a true and sustainable rally. Instead, it’s more to do with hedge funds buying up stocks to cover their short positions. (When investors bet that stock prices will move down, they have to buy shares if prices move up, which pushes up prices even further.)

    The bottom line

    Earning season’s winding down, and it’s been mostly a good one so far.

    Out of the approximately 88% of companies in the S&P 500 have reported results, more than 88% have surpassed earnings estimates. However, only 62% have beaten revenue expectations, suggesting that slowing demand is catching up with companies. The silver lining is that this phenomenon suggests margins have grown.

    With hard-hitting reports from Disney and Arm coming in after the bell and no major economic data released, major indexes had a tepid day. Trading volume was lower than the 30-day average.

    Nonetheless, the S&P 500 managed to inch up 0.1%, its eighth straight day of gains, and the Nasdaq Composite ticked up 0.08% for its ninth positive session. The last time both indexes enjoyed such uninterrupted gains was in November 2021. But the Dow Jones Industrial Average snapped its best winning streak since July with a 0.12% drop yesterday.

    This lull in news’ only temporary. Federal Reserve Chair Jerome Powell will speak about monetary policy Thursday and October’s consumer price index reading comes out next Tuesday. Those events will serve as the next major catalysts for stocks, said AXS Investments CEO Greg Bassuk. And though it’s admittedly a very long shot, we’ll see, then, if (the surviving) major indexes manage to extend their winning streak — or precipitate a new fall.

    But for investors hoping to time markets and reap quick gains on those events, CNBC’s Bob Pisani has a warning. “The idea that you can predict the future direction of stock prices, and act accordingly — is not a successful investing strategy,” Pisani writes. “The key to investing is not market timing” — it’s giving yourself time in the market.

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  • SAG-AFTRA says studios’ latest offer falls short of union’s AI demands

    SAG-AFTRA says studios’ latest offer falls short of union’s AI demands

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    NEW YORK, NEW YORK – OCTOBER 31: Rebecca Damon joins SAG-AFTRA members on strike during Halloween on October 31, 2023 in New York City. The strike, which began on July 14, entered its 100th day on October 21st as the actors’ union and Hollywood studios and streamers failed to reach an agreement. (Photo by John Nacion/Getty Images)

    John Nacion | Getty Images Entertainment | Getty Images

    SAG-AFTRA actors aren’t totally on board with Hollywood studios’ latest labor agreement pitch.

    The Screen Actors Guild-American Federation of Television and Radio Artists said there were still “several essential items” that they couldn’t agree with during their negotiations with the Alliance of Motion Picture and Television Producers, including artificial intelligence guidelines.

    Studios put forth this “last, best and final offer” over the weekend, with top executives making clear that they would not make further concessions. SAG-AFTRA spent time Sunday and Monday evaluating the deal.

    It is unclear if the AMPTP will return to the table to continue bargaining or if talks will officially shutdown.

    Representatives from the AMPTP did not immediately respond to CNBC’s request for comment.

    Hollywood actors initiated a work stoppage in mid-July as initial negotiations broke down with studios including Disney, Paramount, Universal, Netflix and Warner Bros. Discovery. They resumed talks for a short period of time in early October, but those broke down for several weeks.

    Later in the month, talks resumed again, but so far, SAG-AFTRA and the AMPTP have been unable to reach a deal.

    Television and film performers were looking to improve wages, working conditions, and health and pension benefits, as well as establish guardrails for the use of AI in future television and film productions. Additionally, the union sought more transparency from streaming services about viewership so that residual payments can be made equitable to linear TV.

    The 116 day strike has disrupted marketing campaigns and prevented production from commencing on a significant portion of Hollywood’s film and television projects.

    Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is a member of the Alliance of Motion Picture and Television Producers.

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  • Disney and other entertainment giants report after upbeat results from peers, but investors are getting harsher on companies that don’t deliver

    Disney and other entertainment giants report after upbeat results from peers, but investors are getting harsher on companies that don’t deliver

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    Last month, Netflix Inc.
    NFLX,
    +1.80%
    stock jumped after it reported big subscriber gains and hiked prices. Last week, results from Paramount Global
    PARA,
    +15.44%
    beat expectations, sending shares of the streaming and entertainment giant on its best percentage gain in nearly a year, and Roku Inc.
    ROKU,
    +8.58%
    also offered an upbeat outlook.

    This week — as Walt Disney Co., Warner Bros. Discovery Inc., Lions Gate Entertainment Corp. and AMC Entertainment Holdings Inc. all report results — we’ll get a deeper sense of whether the entertainment industry is starting to make investors happy again, even if they make viewers less happy in the process.

    Those companies will report as the streaming industry, under pressure from investors to turn a better profit, consolidates and as platforms charge more to watch and cram more advertisements into shows and films.

    Cable TV providers and movie theaters, too, are trying to figure out a way forward as streaming becomes more prevalent. Even as Hollywood’s writers come back to work following a strike that shut down production, its actors are still striking, with issues surrounding AI usage to portray actors, streaming payments and other issues in the balance.

    Disney
    DIS,
    +2.14%    ,
    which reports results on Wednesday, faces questions about losses at Disney+, efforts to cut billions in costs and stamp out streaming-account sharing, its planned takeover of the streaming platform Hulu and speculation over which of its large media properties it might sell. BofA analysts recently estimated that ESPN, which Disney has leaned on for years, could be worth around $24 billion. Meanwhile, activist investor Nelson Peltz has been angling for seats on Disney’s board, and its fight with Florida Gov. Ron DeSantis continues.

    Elsewhere, Warner Bros. Discovery
    WBD,
    +6.23%
    — the parent company of the streaming service Max, Warner Bros. Pictures, Discovery Channel, CNN and other channels — reports on Wednesday, as it tries to turn its reserves of intellectual property into franchise films. Meme-stock theater chain AMC
    AMC,
    +2.19%    ,
    which also reports Wednesday, following upbeat results from rival Cinemark Holdings Inc.
    CNK,
    -2.43%    .

    Sales at the theater chains have been lifted in recent months by “Barbie” and “Oppenheimer.” While both were original films, analysts have said the avalanche of sequels and remakes in theaters is unlikely to stop.

    The pressure to boost profits will ultimately affect what TV shows and films get made, and what viewers actually consume. And a report from FactSet on Friday found that investors have been more unkind than usual to companies whose results come up short of Wall Street’s expectations.

    That report found that through the third-quarter earnings season, companies whose earnings miss expectations have seen an average stock-price drop of 5.2% during the two days before the publication of the results through the two days after. If that figure holds, it would be the stock market’s biggest adverse reaction to an earnings miss since the second quarter of 2011.

    This week in earnings

    Among S&P 500 companies, 55 including one from the Dow, will report quarterly results during the week ahead.

    EV startup Rivian Automotive Inc.
    RIVN,
    +0.68%
    reports amid concerns about EV demand. Following Ticketmaster parent Live Nation Entertainment Inc.’s
    LYV,
    +3.53%
    blowout quarterly results last week, results from Madison Square Garden Entertainment Corp.
    MSGE,
    +1.03%
    will shed more light on people’s appetites for live entertainment. Results from digital marketing platform Klaviyo Inc.
    KVYO,
    +3.86%
    and fast-casual chain Cava Group Inc.
    CAVA,
    +5.49%
    — both recent IPOS — will offer a deeper look at digital ad budgets and a competitive restaurant backdrop, respectively.

    The New York Times Co.
    NYT,
    +0.91%
    also reports during the week. So do Planet Fitness Inc.
    PLNT,
    -0.09%    ,
    Gilead Sciences
    GILD,
    +0.44%    ,
    eBay Inc.
    EBAY,
    +3.98%
    and Take-Two Interactive Software
    TTWO,
    +1.03%    .

    The call to put on your calendar

    Cybersecurity drama: Cyberattacks are getting more severe, and customers are starting to feel their effects more acutely. Against that backdrop, casino and resort operator MGM Resorts International
    MGM,
    +5.27%
    will report quarterly results on Wednesday, in the wake of a cyberattack that took down some of its systems. MGM has said that attack, which the company disclosed in September, would cost them roughly $100 million.

    The company said the fallout of that attack — which disrupted hotel bookings and put hotels on manual operations, resulting in long lines — was largely contained to September. But the SEC last week accused software company SolarWinds Corp.
    SWI,
    +1.74%
    of failing to disclose its purported cybersecurity vulnerabilities, potentially leaving other companies wondering whether they’re vulnerable to similar legal action.

    The numbers to watch

    The gig economy and delivery demand: Rival ride-hailing platforms Uber Technologies Inc. and Lyft Inc. report results on Tuesday and Wednesday, respectively. Maplebear Inc.
    CART,
    +0.94%    ,
    better known as the grocery-delivery platform Instacart, also reports on Wednesday.

    Analysts have been kinder to Uber
    UBER,
    +2.73%    ,
    the larger of the two ride-hailing companies. But Lyft has tried to cut its prices and roll out new services, including one that tries to match women and non-binary riders and drivers. The financials from all three companies will land after strong results from food-delivery platform DoorDash Inc.
    DASH,
    +5.35%    ,
    which has expanded its services into retail an effort to compete with Instacart and other delivery providers. And they’ll fill in the picture of rider demand following the back-to-school season and a bigger push to get workers back into offices.

    Beyond ride-sharing, results from Uber and Instacart will narrow the lens on delivery demand, as some analysts question whether higher prices for basics and the return of student-loan payments might make food delivery more dispensable. Analysts also seem likely to zero on in those companies’ high-margin digital-ad businesses, as more e-commerce platforms try to turn their apps and websites into online billboard space.

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  • Taylor Swift Eras Tour film seeking more box office records as it sticks around in theaters

    Taylor Swift Eras Tour film seeking more box office records as it sticks around in theaters

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    Taylor Swift performs onstage during her The Eras Tour concert at Lumen Field in Seattle, Washington, on July 22, 2023.

    Mat Hayward/tas23 | Getty Images Entertainment | Getty Images

    Taylor Swift is seeking to smash more box office records as her Eras Tour concert film sticks around theaters.

    Box office analysts initially believed the singer’s film would wrap up its limited run in the theaters on Nov. 5.

    In AMC Entertainment’s initial announcement of ticket availability for the Eras Tour concert film, the company said audiences could “view showtimes and purchase tickets through November 5th.”

    AMC clarified Friday that the Nov. 5 date was the cutoff for the first run of tickets available for the film when presales began.

    The extra time in theaters can only benefit the film and the box office. Already Swift’s Eras Tour has shattered records and helped the theater industry weather a light release calendar.

    Heading into the weekend, The Eras Tour film has collected $150 million in domestic receipts and more than $200 million globally. That global haul represents more than 18% of the $1.092 billion total global box office earned since the film was released Oct. 13, according to data from Comscore.

    Read more: Beyoncé concert film will help boost weak December box office

    “It’s been a remarkable, one-of-a-kind, record-breaking and influential run for The Eras Tour, not to mention a huge win for Taylor Swift and theater owners,” said Shawn Robbins, chief analyst at BoxOffice.com.

    Expectations are that Swift will add another $10 million domestically this weekend and the film could be No. 1 at the box office once again.

    So far, The Eras Tour film is the highest-grossing domestic and global concert film release of all time but lags just behind the “Michael Jackson’s This Is It” concert documentary’s global haul of $262.5 million.

    Box office records (Taylor’s version)

    • Highest opening weekend for a concert film: Taylor Swift: The Eras Tour — $92.8 million
    • Widest domestic release for a concert film: Taylor Swift: The Eras Tour — 3,855 locations
    • Highest-grossing concert film domestically: Taylor Swift: The Eras Tour — $150 million, and counting
    • Highest-grossing concert film worldwide: Taylor Swift: The Eras Tour — $203.8 million, and counting
    • Highest-grossing concert film documentary worldwide: “Michael Jackson’s This Is It” — $262.5 million

    Source: Comscore

    Swift’s concert film release came at an opportune time. Labor strikes in Hollywood led several films to depart the theatrical calendar, including the much-anticipated “Dune: Part Two” from Warner Bros. Discovery and Legendary Entertainment.

    “One movie can make all the difference,” said Paul Dergarabedian, senior media analyst at Comscore. “This incredible box office performance is made all the more impressive given the film’s truncated release pattern that had it essentially playing on big screens four days a week.”

    Swift’s unique release, coupled with her decision to distribute the film through theater chain AMC instead of a traditional Hollywood studio, has also led to increased speculation about where the concert film will land on streaming.

    Taylor Swift’s previous movies

    • Taylor Swift: Journey to Fearless (2010): aired on The Hub, which has since been rebranded as Discovery Family, and then made available on DVD
    • Taylor Swift: Speak Now World Tour Live (2011): made available on DVD
    • The 1989 World Tour Live (2015): released through Apple Music
    • Taylor Swift: Reputation Stadium Tour (2018): streaming on Netflix
    • Taylor Swift: City of Lover Concert (2020): ABC TV Special
    • Miss Americana (2020): streaming on Netflix
    • Folklore: The Long Pond Studio Sessions (2020): streaming on Disney+

    Currently, it appears that Swift is waiting for the SAG-AFTRA strike to wrap up before negotiating with streamers for the rights to her concert film. The film is much coveted in the industry and a big bidding battle is expected.

    Swift has previously worked with Apple Music, Netflix and Disney to release filmed versions of her concerts and documentary projects.

    Correction: An earlier version of this story incorrectly said it would be the Eras Tour movie’s last weekend at the box office. The headline and story have been corrected.

    Don’t miss these stories from CNBC PRO:

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  • Disney to buy remaining Hulu stake from Comcast in widely expected move

    Disney to buy remaining Hulu stake from Comcast in widely expected move

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    Rafael Henrique | SOPA Images | LightRocket | Getty Images

    Disney said Wednesday that it had agreed to buy Comcast‘s one-third stake in streaming service Hulu, a long-expected outcome.

    Disney said it expects to pay Comcast’s NBCUniversal about $8.61 billion by Dec. 1, reflecting the guaranteed minimum value of $27.5 billion for the streaming service the two sides agreed upon in 2019.

    Disney could pay more based on Hulu’s equity value as of Sept. 30. The company said the appraisal process should wrap up some time next year.

    Originally, Disney and Comcast had set a deadline to resolve Hulu’s ownership by January. In September, the rival media giants moved up that deadline, effectively acknowleding the outcome announced Wednesday.

    Disney already sells Hulu as part of a streaming bundle with its Disney+ and ESPN+ products.

    Read the full release from Disney.

    Disclosure: Comcast’s NBCUniversal is the parent company of CNBC.

    This is breaking news. Please check back for updates.

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  • There’s a ton worth streaming in November 2023. So as prices rise, here’s how to avoid breaking the bank.

    There’s a ton worth streaming in November 2023. So as prices rise, here’s how to avoid breaking the bank.

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    November offers a false spring for streaming viewers.

    After a slow couple of months, there’s suddenly an abundance of top-tier shows on the way, but don’t be fooled — the streaming scene is going to be largely bleak in the coming months, until productions fully ramp up sometime next year following the strikes that have crippled Hollywood.

    Meanwhile, streaming costs keep rising (Netflix’s top tier is the first to cross the $20 barrier) and consumers are getting less for their money, with fewer new shows and smaller libraries, while streamers push subscribers toward ad-supported tiers that generate more revenue per user while providing a worse viewing experience. Still, all the ad-supported tiers cost less than $10 a month, meaning it may be time for budget-conscious consumers to suck it up and deal with commercials if they don’t want to break the bank.

    Read more: Netflix is raising prices to get you to watch ads, and it will probably work

    That’s why it’s even more important to examine which services you’re really willing to pay for. The days of subscribing to six streaming services — even though you might only regularly watch three — are over. But by adding and canceling services month to month, you can save money while still being able to watch your favorite shows (for example, instead of watching a 12-episode show that drops every week and paying for three months, subscribe for just one month once the show nears its end and binge it all at once).

    Such a churn strategy takes some planning, but it pays off. Keep in mind that a billing cycle starts when you sign up, not necessarily at the beginning of the month.

    Each month, this column offers tips on how to maximize your streaming and your budget, rating the major services as a “play,” “pause” or “stop” — similar to investment analysts’ traditional ratings of buy, hold or sell, and picks the best shows to help you make your monthly decisions.

    Here’s a look at what’s coming to the various streaming services in November 2023, and what’s really worth the monthly subscription fee:

    Apple TV+ ($9.99 a month)

    The price of Apple TV+ has doubled in a little over a year, and in any other month, it’d be easy to argue it has priced itself out of the range of casual viewers. But Apple’s November lineup is so impressive that it’s actually somehow still a good deal.

    The alt-history space drama “For All Mankind” (Nov. 10) returns for its fourth season, with an eight-year time jump after Season 3’s shocking finale. The Mars colony is now thriving, but tensions are rising over the mining of mineral-rich asteroids. Toby Kebbell (“Servant”) joins the cast, along with Daniel Stern and Tyner Rushing, who join holdovers Joel Kinnaman, Krys Marshall, Wrenn Schmidt and Coral Pena. It’s a fantastic and frequently thrilling series, and arguably Apple’s best drama.

    And a challenger to that title is also coming back. “Slow Horses” (Nov. 29), the darkly funny thriller about a group of washed-up spies, returns for its third season. Gary Oldman stars as perpetually disgruntled spymaster Jackson Lamb, leading his team of misfits as they get dragged into an international conspiracy after one of their own is kidnapped. Based on the novels by Mick Herron, “Slow Horses” is smart and cynical, a terrific twist on traditional spy stories.

    Then there’s “Monarch: Legacy of Monsters” (Nov. 17), an action-conspiracy series about a ragtag group trying to expose a secretive organization that knows the truth about Godzilla and other kaiju creatures terrorizing the planet. Kurt Russell stars with his son, Wyatt (who plays his dad in flashbacks), along with Anna Sawai, Ren Watabe and Kiersey Clemons. The series is intended to slide right into the MonsterVerse that includes “Godzilla vs. Kong,” “Kong: Skull Island” and “Godzilla: King of the Monsters,” and for anyone who grew up watching monster movies, this could be a lot of fun.

    Apple
    AAPL,
    +1.87%
    also has “Fingernails” (Nov. 3), a sci-fi romance movie starring Jessie Buckley, Riz Ahmed, Jeremy Allen White and Luke Wilson; “The Buccaneers” (Nov. 8), a “Bridgerton”-esque period drama based on the Edith Wharton novel about a group of rich American girls who hit London in the 1870s looking for suitable husbands; the holiday musical special “Hannah Waddingham: Home for Christmas” (Nov. 22); and a new version of the tear-jerking children’s classic “The Velveteen Rabbit” (Nov. 22).

    Meanwhile, Martin Scorsese’s critically acclaimed “Killers of the Flower Moon” should hit Apple TV+ within the next month or two, after it completes its theatrical run, and Ridley Scott’s historical epic “Napoleon,” starring Joaquin Phoenix, his theaters Nov. 22. It, too, will stream on Apple at an as-yet-undisclosed date in the coming months.

    There are also new episodes every week of “Lessons in Chemistry” (finale Nov. 24), and “The Morning Show” (season finale Nov. 8). If that’s not enough, you could always catch up on “Foundation,” “Swagger,” “Platonic” or discover “Bad Sisters.”

    Who’s Apple TV+ for? It offers a little something for everyone, but not necessarily enough for anyone — although it’s getting there.

    Play, pause or stop? Play. Even though its price has soared, Apple is still cheaper than most, and it delivers value this month. (Remember, you can get three free months of Apple TV+ if you buy a new Apple device.)

    Hulu ($7.99 a month with ads, or $17.99 with no ads)

    After a fallow October, Hulu has a lot more to offer in November, continuing its strong year.

    FX’s “A Murder at the End of the World” (Nov. 14) was pushed back from an August release date due to the Hollywood strikes, but it should fit better in a colder season anyway. From Brit Marling and Zal Batmanglij, the producers of Netflix’s cult favorite sci-fi series “The OA,” the limited series is an Agatha Christie-style murder mystery set at a billionaire’s secluded, snowbound retreat in Iceland. Emma Corrin (“The Crown”) stars as an amateur detective while Clive Owen (“Children of Men”) plays the mysterious tycoon.

    A wintry setting also plays a key role in the fifth season of FX’s “Fargo” (Nov. 22), the latest installment in Noah Hawley’s noirish crime anthology. Juno Temple (“Ted Lasso”) plays a seemingly ordinary Midwestern housewife who’s not at all what she appears to be. She’s joined by an all-star cast that includes Jon Hamm, Jennifer Jason Leigh, Lamorne Morris and Dave Foley. Each season of “Fargo” is a quirky, violent delight, and this one looks no different.

    Also: Disney officially plans to buy remaining Hulu stake from Comcast

    Just to make things confusing, while both “A Murder at the End of the World” and “Fargo” are FX series, “Murder” will stream exclusively on Hulu, while “Fargo” episodes will first air on FX then stream a day later.

    In an interesting experiment, director Baz Luhrmann has recut his 2008 romantic drama “Australia,” starring Nicole Kidman and Hugh Jackman, and turned it into a six-episode miniseries — renamed “Faraway Downs” (Nov. 26) — using extra footage shot during the original filming. The movie flopped in theaters, but Luhrmann says it should work better as a miniseries, saying “episodic storytelling has been reinvigorated by the streaming world.”

    For more: Here’s what’s new on Hulu in November 2023 — and what’s leaving

    Hulu also has “Black Cake” (Nov. 1), a generations-spanning family drama based on the bestselling novel by Charmaine Wilkerson; “Quiz Lady” (Nov. 3), a comedy movie about estranged sisters, starring Awkwafina and Sandra Oh; and a handful of sports documentaries, including “The League” (Nov. 9), about Negro League baseball, and “Brawn: The Impossible Formula 1 Story” (Nov. 15), hosted by Keanu Reeves.

    Fresh off October’s addition of “Moonlighting,” Hulu is adding all eight seasons of another 1980s classic, “L.A. Law” (Nov. 3), along with a ton of holiday fare, including “Adam Sandler’s Eight Crazy Nights” and “Miracle on 34th Street” (both Nov. 1), and “Elf” and “National Lampoon’s Christmas Vacation” (both Nov. 23).

    And don’t forget the season finales of “Welcome to Wrexham” (Nov. 15) and “Goosebumps” (Nov. 17), as well as next-day streams of network shows such as “The Golden Bachelor” and “Bob’s Burgers.”

    Who’s Hulu for? TV lovers. There’s a deep library for those who want older TV series and next-day streaming of many current network and cable shows.

    Play, pause or stop? Pause and think it over. If you’re on the ad-supported plan, it’s well worth it. But for the pricey, $18 ad-free plan, you may want to wait until December and see how some of these new series pan out.

    Netflix ($6.99 a month for basic with ads, $15.49 standard with no ads, $22.99 premium with no ads)

    Netflix just raised some prices again, but for most customers, it’s still a good value.

    The critically acclaimed royal-family drama “The Crown” (Nov. 16) is back for the first half of its sixth and final season (four episodes drop this month, with the final six coming in December). Events pick up in 1997 after the marriage of Prince Charles (Dominic West) and Princess Diana (Elizabeth Debicki) ends, as Queen Elizabeth II (Imelda Staunton) reflects on her legacy. There’s already controversy over how it’ll handle Diana’s tragic death.

    Read more: Here’s what’s new on Netflix in November 2023 — and what’s leaving

    Netflix
    NFLX,
    +2.06%
     also has “The Killer” (Nov. 10) a “slick but conventional” thriller movie from director David Fincher, starring Michael Fassbender as a hit man on the run; “Squid Game: The Challenge” (Nov. 22), a reality competition show putting 456 players through challenges inspired by the hit Korean drama (minus the murders, presumably); “Scott Pilgrim Takes Off” (Nov. 17), an anime version of the graphic novels and cult-favorite movie “Scott Pilgrim vs. the World” (which is also coming Nov. 1); “All the Light We Cannot See” (Nov. 2), a critically panned miniseries about a blind French girl and a German soldier in the final days of WWII, starring Aria Mia Loberti, Louis Hofmann and Mark Ruffalo; Season 5, Part 2 of the popular small-town romantic drama “Virgin River” (Nov. 30); and “The Netflix Cup: Swing to Survive” (Nov. 14), Netflix’s first livestreamed sporting event, with teams of Formula 1 drivers and PGA stars in a match-play golf tournament from Las Vegas.

    There are also fresh episodes of “The Great British Baking Show” every Friday until its season finale Dec. 1.

    Who’s Netflix for? Fans of buzz-worthy original shows and movies.

    Play, pause or stop? Pause. “The Crown” and “The Great British Baking Show” are the top draws, but aside from those, there’s not a lot else to move the needle this month. However, if you can live with commercials, you can find value at $7.

    Paramount+ ($5.99 a month with ads, $11.99 a month with Showtime and no ads)

    Paramount+ has some interesting stuff in November. But is it enough to justify a subscription?

    “Lawmen: Bass Reeves” (Nov. 5), joins the streaming service’s extensive slate of shows produced by Taylor Sheridan, telling the story of one of the Wild West’s most overlooked real-life heroes: Bass Reeves (played by David Oyelowo), who was the first Black U.S. marshal west of the Mississippi and overcame countless hurdles in enforcing the law in the era of Reconstruction. A marksman with something like 3,000 arrests to his name, Reeves was purportedly the inspiration for the story of the Lone Ranger. Say what you will about Sheridan’s formulaic shows, but he knows how to make a good Western. This should be worth a watch.

    There’s also “The Curse“ (Nov. 10), an intriguing new Showtime series starring Nathan Fielder (“Nathan for You”) and Oscar-winner Emma Stone that puts a dark twist to an HGTV-like home-improvement show; and “Good Burger 2” (Nov. 22), a sequel to the 1997 cult-classic fast-food comedy starring Kenan Thompson and Kel Mitchell.

    On the sports side, Paramount has NFL football every Sunday, Big Ten and SEC college football every Saturday, and a full slate of UEFA Champions League soccer.

    Who’s Paramount+ for? Gen X cord-cutters who miss live sports and familiar Paramount Global 
    PARA,
    -0.74%
      broadcast and cable shows.

    Play, pause or stop? Pause. There’s decent value with a couple of promising new shows, especially when factoring in Paramount’s live sports and vast library of movies and network shows.

    Max ($9.99 a month with ads, $15.99 with no ads, or $19.99 ‘Ultimate’ with no ads)

    It’s a very skippable month for Max.

    The Warner Bros. Discovery 
    WBD,
    +1.41%
     streaming service only has a handful of new originals to offer, including Season 2 of Issa Rae’s hip-hop comedy “Rap Sh!t” (Nov. 19), as Shawna (Aida Osman) and Mia (KaMillion) come to a crossroads on their road to fame; Season 2 of the biographical drama “Julia” (Nov. 16), starring Sarah Lancashire as iconic chef Julia Child as she and her husband return from France and face new challenges; “Bookie” (Nov. 30), a new comedy from Chuck Lorre (“Big Bang Theory”) and Nick Bakay about an L.A. bookie looking for new angles as the potential legalization of sports gambling threatens to upend his shady business; and Rob Reiner’s documentary “Albert Brooks: Defending My Life” (Nov. 11), delving into the life of the comedy legend.

    Also: Here’s everything coming to Max in November 2023 — and what’s leaving

    There are also a ton of holiday-themed shows from Food Network, HGTV and OWN; live sports on its free (for now) Bleacher Report tier that includes NBA and NHL games, college basketball and U.S. men’s soccer (Nov. 16 and 20); and new episodes of “The Gilded Age” and “Last Week Tonight with John Oliver.”

    Who’s Max for? HBO fans and movie lovers. And now, unscripted TV fans too, with a slew of Discovery shows.

    Play, pause or stop? Stop. Max still has a great library, but the new offerings fall short. Even the ad tier isn’t worth it — try again another month.

    Amazon’s Prime Video ($14.99 a month, or $8.99 without Prime membership)

    “The Boys” spinoff “Gen V” ends its first season on Nov. 3, but fans of ultra-violent superheroes will be able to slide right into Season 2 of the hit animated series “Invincible” (Nov. 3), which returns to Prime Video after a two-and-a-half-year layoff. Based on the graphic novels by Robert Kirkman, Cory Walker and Ryan Ottley, the very adult series picks up with Mark (Steven Yeun) still reeling from the revelations about his superhero father (J.K. Simmons) at the end of Season 1, while a new villain (voiced by Sterling K. Brown) appears on the scene. Annoyingly, Season 2 will be split in two, with four episodes in November and another four coming in early 2024.

    More: What’s new on Amazon’s Prime Video and Freevee in November 2023

    Amazon’s
    AMZN,
    +2.94%
     streaming service also has “007: Road to a Million” (Nov. 10), an “Amazing Race”-like competition series hosted by Brian Cox where nine teams of two endure James Bond-inspired challenges around the globe to try to win a big cash prize, and “Twin Love” (Nov. 17), a reality dating show involving 10 sets of identical twins split into two houses.

    Who’s Prime Video for? Movie lovers, TV-series fans who value quality over quantity.

    Play, pause or stop? Stop. There’s no a compelling reason to start a relatively pricey subscription now. That even goes for “Invincible” fans, who would be better off waiting until the second half drops and bingeing when all episodes are available. Splitting up eight episodes is ridiculous.

    Disney+ ($7.99 a month with ads, $13.99 with no ads)

    Tim Allen returns for Season 2 of “The Santa Clauses” (Nov. 8), as the jolly one continues his search for a successor. Eric Stonestreet joins the cast as the exiled “Mad Santa,” along with Gabriel Iglesias as Kris Kringle and Tracey Morgan as the Easter Bunny (because, of course!).

    Meanwhile, Lil Rel Howry, Ludacris and Oscar Nunez star in the new family comedy movie “Dashing Through the Snow” (Nov. 17), and Danny Glover will play Santa in the Disney Channel original film “The Naughty Nine” (Nov. 23).

    In non-holiday fare, Disney has three upcoming Doctor Who specials celebrating the iconic sci-fi series’ 60th anniversary. The first, “Doctor Who: The Star Beast” (Nov. 25), reunites David Tennant and Catherine Tate, as the Doctor and Donna Noble battle the villainous Toymaker (Neil Patrick Harris), with the other two specials coming in December, when the 15th Doctor (Ncuti Gatwa of “Sex Education”) will be introduced.

    There’s also 2019’s “Spider-Man: Far From Home” (Nov. 3), and new episodes of “Loki” (finale Nov. 9), “Goosebumps” (finale Nov. 17) and “Dancing With the Stars.”

    Who’s Disney+ for? Families with kids, hardcore “Star Wars” and Marvel fans. For people not in those groups, Disney’s
    DIS,
    -0.64%
     library can be lacking.

    Play, pause or stop? Stop. After a recent price hike, there’s just not enough to justify a subscription (unless your kids will absolutely melt down without it).

    Peacock ($5.99 a month with ads, or $11.99 with no ads)

    It’s a pretty bleak month for Peacock originals, with only the reality dating spinoff “Love Island Games” (Nov. 1); “Please Don’t Destroy: The Treasure of Foggy Mountain” (Nov. 17), the first movie from the “SNL” comedy trio; and Season 2 of the Paris Hilton reality series “Paris in Love” (Nov. 30).

    It’s a bit brighter on the sports side, with Big Ten college basketball starting Nov. 6, Big Ten college football every Saturday, NFL Sunday Night Football and a full slate of English Premier League soccer, golf, motorsports and winter sports.

    And on Thanksgiving (Nov. 23), Peacock will stream the annual Macy’s Thanksgiving Day Parade, the National Dog Show and an NFL game, as the 49ers play the Seahawks.

    Who’s Peacock for? Live sports and next-day shows from Comcast’s 
    CMCSA,
    +1.28%
     NBCUniversal are the main draw, but there’s a good library of shows and movies.

    Play, pause or stop? Stop. The live-sports offerings are the only lure.

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  • The top 10 things to watch in the stock market Friday

    The top 10 things to watch in the stock market Friday

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    The top 10 things to watch Friday, Oct. 20

    1. Will the yield on the 10-year Treasury breach 5% Friday, and how will markets react? U.S. stocks are down in premarket trading, with S&P 500 futures falling 0.27%, potentially leading to another disappointing week for equities. Stocks have been held back by high bond yields and strengthening oil prices.

    2. American Express (AXP) reports a big third-quarter earnings beat Friday, with earnings-per-share (EPS) of $3.30, ahead of analysts’ forecasts for $2.94 a share. Revenue climbs by 13%, boosted by travel-and-entertainment spending. Millennial and Gen-Z spending rises by 18% in the U.S.

    3. Oilfield services firm Schlumberger (SLB) misses slightly on revenue expectations for the third quarter, but beats adjusted EPS estimates by a penny. The company has reported nine-consecutive quarters of double-digit, year-over-year growth in its international business, and expects sequential revenue growth in the fourth quarter.

    4. UBS assumes coverage on a handful of drug stocks, including Club name Eli Lilly (LLY). The bank designates Eli Lilly a buy, with a price target of $710 a share, saying it expects “meaningful upward revisions” for diabetes-and-obesity treatment Mounjaro.

    5. Intuitive Surgical (ISRG) reports a mixed quarter, as the company continues to see pressure on its bariatrics business due to the rise in GLP-1 obesity drugs. This used to be the company’s largest source of procedure growth.

    6. General Motors (GM) is reportedly close to reaching a tentative agreement with the United Auto Workers union that would resolve a month-long strike, which has also engulfed Club name Ford Motor (F) and Stellantis NV (STLA), according to Bloomberg.

    7. Deutsche Bank upgrades Union Pacific (UNP) to a buy rating, while slightly raising its price target to $258 a share, up from $257. The firm cites improving U.S. rail volumes and increasing confidence around new CEO Jim Vena.

    8. Wolfe Research upgrades Club holding Morgan Stanley (MS) to a neutral-equivalent rating from underperform, without a price target. Meanwhile, Wednesday’s post-earnings sell-off of the bank stock was an overreaction.

    9. JPMorgan reiterates Club holding Amazon (AMZN) as its best idea in the internet sector on the expectation that revenue growth at cloud unit Amazon Web Services will accelerate in the second half of this year, while North American retail margins expand.

    10. Goldman Sachs lowers its price target on Club name Walt Disney (DIS) to $125 a share, down from $128, while maintaining a buy rating on the stock. The firm asks: is the stock is now at the point of peak uncertainty?

    Sign up for Jim Cramer’s Top 10 Morning Thoughts on the Market email newsletter for free.

    (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)

    As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

    THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER.  NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.  NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

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  • CNBC Daily Open: Fed says inflation too high, U.S. Treasurys in spotlight

    CNBC Daily Open: Fed says inflation too high, U.S. Treasurys in spotlight

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    Federal Reserve Chairman Jerome Powell speaks during a meeting of the Economic Club of New York in New York City, U.S., October 19, 2023. 

    Brendan Mcdermid | Reuters

    This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

    What you need to know today

    Powell says inflation is too high
    Federal Reserve Chair     Jerome Powell said the central bank would be “resolute” in its commitment to its 2% mandate, despite acknowledging recent signs of cooling inflation. Still, Powell didn’t commit to a specific policy path and gave no indication that he was leaning toward a push higher for interest rates.  

    Shaky markets
    Stocks slid on Thursday, with the Dow down over 250 points after Powell’s speech. The benchmark 10-year U.S. Treasury yield crossed the key level of 5% for the first time since 2007. Asia-Pacific markets were all lower on Friday, with South Korean stocks leading declines.

    Disneyland or Disney World?
    Disney highlighted in a filing just how strong its theme park business is for its bottom line. The theme parks segment had more than $24 billion in revenue for the nine months ended July 1. That’s 17% higher than the comparable year ago period. Admissions alone accounted for nearly $8 billion of 2023′s nine-month total, up 21% from last year.

    Las Vegas Sands’ Asia bet
    The world’s largest casino company’s recovery from the Covid-19 pandemic is gaining steam, and Asia is a big reason why. Las Vegas Sands announced it pulled in $1.12 billion in third-quarter adjusted property EBITDA, an important gauge of profitability in the gambling industry. That’s nearing pre-pandemic levels, off just 6% from the same period in 2019.

    [PRO] Should you lock in those high yields right now?
    A bond bear market has dominated this year. But with 10-year Treasury yields surging to 5% — a 16-year high, many investors might now be tempted to lock in those high yields and buy into bonds. Volatility in the bond market may, however, cause some hesitation among investors. Wall Street weighs in on the right moves to make.

    The bottom line

    Stock markets have had a rough run this week as fears of inflation and high Treasury yields linger. There’s no two ways about where the Federal Reserve stands on its battle against rising prices as Chair Jerome Powell firmly backed the central bank’s 2% target, adding that he doesn’t think rates are too high now.

    “Does it feel like policy is too tight right now? I would have to say no,” he said.

    Recent data has shown that while U.S. inflation remains well above the target rate, the pace of monthly increases has decelerated, but evidently not fast enough by Fed standards.

    To top it all off, the yield on the 10-year Treasury bond notched above 5% as it rose for the fourth day in a row, pressuring equity markets further.

    High bond yields pressure equity markets because stocks are traditionally looked at as riskier assets that can sometimes provide higher returns, while bonds stand to provide a steady, less-risky source of regular income.

    These high interest rates have also pressured some of the largest and most profitable banks in the United States as big Wall Street lenders have quietly been laying off workers all year — and some of the deepest cuts have yet to come.

    “Banks are cutting costs where they can because things are really uncertain next year,” Chris Marinac, research director at Janney Montgomery Scott, said. “They need to find levers to keep earnings from falling further and to free up money for provisions as more loans go bad.”

    In the same vein, Tesla CEO Elon Musk expressed concerns about the high interest rate environment and said it makes it harder for consumers to buy cars, sending shares of the EV maker down over 9% on Thursday.

    Netflix on the other hand, surged 16% on Thursday following an encouraging quarterly earnings report and several victories, including a 70% jump in its new ad-supported subscription tier.

    Investors will now look for results from companies including Comerica, Regions Financial and American Express. Oilfield services company SLB is also on deck to report.

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  • CNBC Daily Open: When inflation is too high and so are yields

    CNBC Daily Open: When inflation is too high and so are yields

    [ad_1]

    Federal Reserve Chairman Jerome Powell speaks during a meeting of the Economic Club of New York in New York City, U.S., October 19, 2023. 

    Brendan Mcdermid | Reuters

    This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

    What you need to know today

    Powell says inflation is too high
    Federal Reserve Chair     Jerome Powell said the central bank would be “resolute” in its commitment to its 2% mandate, despite acknowledging recent signs of cooling inflation. Still, Powell didn’t commit to a specific policy path and gave no indication that he was leaning toward a push higher for interest rates.  

    Shaky markets
    Stocks slid on Thursday, with the Dow down over 250 points after Powell’s speech and as the benchmark 10-year U.S. Treasury yield inched closer to the key level of 5%. Europe’s Stoxx 600 closed at seven-month lows, falling for a third straight session.

    Disneyland or Disney World?
    Disney highlighted in a filing just how strong its theme park business is for its bottom line. The theme parks segment had more than $24 billion in revenue for the nine months ended July 1. That’s 17% higher than the comparable year ago period. Admissions alone accounted for nearly $8 billion of 2023′s nine-month total, up 21% from last year.

    Las Vegas Sands’ Asia bet
    The world’s largest casino company’s recovery from the Covid-19 pandemic is gaining steam, and Asia is a big reason why. Las Vegas Sands announced it pulled in $1.12 billion in third-quarter adjusted property EBITDA, an important gauge of profitability in the gambling industry. That’s nearing pre-pandemic levels, off just 6% from the same period in 2019.

    [PRO] How to take advantage of the near 5% yield
    Investors were handed an income opportunity they haven’t seen in more than a decade when the 10-year Treasury yield climbed near 5% on Thursday. A move above 5% will lead more investors to scoop up the assets and can also make sense for those worried about the economy and a potential recession, predicted some analysts.

    The bottom line

    Stock markets have had a rough run this week as fears of inflation and high Treasury yields linger. There’s no two ways about where the Federal Reserve stands on its battle against rising prices as Chair Jerome Powell firmly backed the central bank’s 2% target, adding that he doesn’t think rates are too high now.

    “Does it feel like policy is too tight right now? I would have to say no,” he said.

    Recent data has shown that while U.S. inflation remains well above the target rate, the pace of monthly increases has decelerated, but evidently not fast enough by Fed standards.

    And the worries don’t end there, the yield on the 10-year Treasury hit a high of 4.996%, trading at levels last seen in 2007, which begs the question – why put your money in risky stocks?

    These high interest rates have also pressured some of the largest and most profitable banks in the United States as big Wall Street lenders have quietly been laying off workers all year — and some of the deepest cuts have yet to come.

    “Banks are cutting costs where they can because things are really uncertain next year,” Chris Marinac, research director at Janney Montgomery Scott, said. “They need to find levers to keep earnings from falling further and to free up money for provisions as more loans go bad.”

    Investors will now look for results from more financial companies including Comerica, Regions Financial and American Express. Oilfield services company SLB is also on deck to report.

    And the good news is — it’s Friday!

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  • Disney reveals ESPN’s financials, proving its sports business isn’t ‘imploding’

    Disney reveals ESPN’s financials, proving its sports business isn’t ‘imploding’

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    Walt Disney Co. offered investors their first glimpse at ESPN’s financials Wednesday with disclosures that struck one analyst as a “relief.”

    ESPN generated $12.6 billion in revenue during the nine months that ran through July 1, up from $12.3 billion in the comparable period a year before. The business brought in $1.9 billion in operating income during the same span, down from about $2.1 billion in the year-earlier span.

    The ESPN breakout includes financials from Disney’s
    DIS,
    -1.76%
    eight domestic ESPN-branded television channels, along with ESPN on ABC, the ESPN+ streaming service and ESPN-branded international channels.

    The business sits within the sports segment of Disney’s newly recast financials. On the whole, the sports unit, which also includes Star-branded sports networks in India, brought in $13.2 billion in revenue for the nine months through July 1, compared with $13.4 billion in the same period a year prior. Operating income for the sports segment came in at $1.5 billion over the nine-month period, versus $1.8 billion a year earlier.

    “There’s perhaps more durability in ESPN’s top-line growth than expected,” Wells Fargo analyst Steven Cahall wrote. “The real test comes when ESPN launches DTC,” meaning the long-awaited streaming service for the flagship network.

    Don’t miss: ESPN’s ‘melting iceberg’ is yet another challenge for Disney, analyst says

    Cahall further noted that excluding Star, the sports business “is not declining at an overly precipitous rate.” Disney still has to navigate the eventual move of sports programming from linear television to streaming against the backdrop of soaring rights fees, but the latest financial disclosures “may provide some semblance of relief that the main Sports biz isn’t imploding as we speak,” he noted.

    Disney Chief Executive Bob Iger said earlier this year that traditional TV was near “obsolescence” as he teased a potential sale of linear assets. He also mentioned looking for a strategic partner for ESPN.

    Read: Should the NFL buy ABC from Disney? One analyst makes the case.

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  • U.S. stocks lose ground after Hamas attacks Israel

    U.S. stocks lose ground after Hamas attacks Israel

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    U.S. stocks were slightly lower Monday as investors edged away from equities and other assets perceived as risky in favor of traditional havens after a surprise attack by Hamas on Israel over the weekend raised geopolitical alarms.

    What’s happening

    • The Dow Jones Industrial Average
      DJIA
      was down 26 points, or 0.1%, at 33,382.

    • The S&P 500
      SPX
      fell 11 points, or 0.3%, to 4,295.

    • The Nasdaq Composite
      COMP
      was down 102 points, or 0.8%, at 13,329.

    Stocks bounced Friday after a stronger-than-expected September jobs report, allowing the S&P 500 to rise 0.5% for the week and break a streak of four straight weekly declines. The Dow saw a 0.3% weekly decline, while the Nasdaq Composite rose 1.6%.

    What’s driving markets

    The attack by Hamas on Israel raised fears of a broader conflict.

    “Such geopolitical tension is traditionally and unsurprisingly negative on sentiment, with investors likely to be unsettled by the prospect of further uncertainty,” said Richard Hunter, head of markets at Interactive Investor.

    The price of Brent crude
    BRN00,
    +3.80%    ,
    the global energy benchmark, jumped nearly 4% amid concerns oil supplies from the region may be compromised.

    Need to Know: From $150 oil to no impact at all: What the surprise attack on Israel means to markets

    “The shocking attacks in Israel have sent the price of oil soaring, as investors assess the potential for the conflict to disrupt supply in the Middle East, if other countries are drawn in,” said Susannah Streeter, analyst at Hargreaves Lansdown.

    U.S. stock futures dived as bourses in much of Europe and Asia sold off, while traders moved into the perceived havens of gold
    GC00,
    +1.17%    ,
    the U.S. dollar
    DXY
    and government bonds, such as the German bund
    BX:TMBMKDE-10Y.

    See: Gold, U.S. dollar rally as investors flock to havens as Israel-Hamas war escalates

    The U.S. Treasury market is closed on Monday for Columbus Day and Indigenous Peoples’ Day, but futures
    TY00,
    +0.80%
    are trading and these indicate falling benchmark yields.

    “Geopolitical risk doesn’t tend to linger long in markets but there are many second order impacts that could come through in the weeks, months and years ahead from this weekends’ developments,” said Jim Reid, strategist at Deutsche Bank.

    Indeed, traders may find their focus soon switches this week back to monetary and corporate issues. Markets ultimately reacted positively to what on the surface was a strong nonfarm payrolls report published Friday, as traders believed it was not so hot it would move the needle on Fed policy.

    With that in mind, the U.S. producer and consumer prices data for September will be published on Wednesday and Thursday, respectively, with further evidence of easing price pressure required to cement no more rate increases by the Federal Reserve this year.

    Then Friday sees the start proper of the third-quarter company-earnings season, when big banks such as JPMorgan Chase
    JPM,
    -0.69%    ,
    Citigroup
    C,
    -0.97%    ,
    and Wells Fargo
    WFC,
    -0.93%
    present their results.

    Earnings Watch: Q3 earnings are here: S&P 500 heads toward year of profit declines as JPMorgan, and Delta report this week

    Forecasts suggest analysts have become less confident about corporate profitability in recent weeks. Aggregate S&P 500 earnings are expected to decline by 0.3% for the year to Q3 2023, which would mark the fourth consecutive quarter of falling earnings, according to John Butters, senior earnings analyst at FactSet.


    Source: FactSet

    Read: Good for stocks? Why Tom Lee says the attack on Israel could help equities.

    Companies in focus

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  • 5 things to know before the stock market opens Thursday

    5 things to know before the stock market opens Thursday

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    Here are the most important news items that investors need to start their trading day:

    1. Taking a breath

    Investors took a small sigh of relief after a series of bad days on Wall Street. The Dow broke a three-day losing streak, while the S&P 500 and the Nasdaq Composite also took a more positive note after the release of new jobs data. ADP reported Wednesday that private payrolls rose 89,000 in September, far below the 160,000 economists had been expecting. Investors are hoping that means a historically tight labor market might finally be loosening, which could give the Federal Reserve a reason to stop hiking rates. But the ADP numbers can differ significantly from the official government numbers, which are due out Friday, so the relief might be short-lived. Follow live market updates.

    2. Striking out

    Kaiser Permanente employees, joined by Union members representing the workers, walk the picket line in Los Angeles, California on October 4, 2023. 

    Frederic J. Brown | AFP | Getty Images

    There’s a new strike in town. More than 75,000 healthcare workers walked off the job Wednesday at Kaiser Permanente, the nation’s largest healthcare nonprofit organization. The union — which says this is the largest strike of healthcare workers in U.S. history — is seeking a long-term solution to staffing shortages that have left employees burnt out. Its members also say they want better pay and benefits. Negotiations between the two sides are ongoing. Kaiser said it has contingency plans in place to ensure patients receive care during the strike, which is expected to last three days.

    3. Smartphone wars

    Google Pixel 8 Rose

    Courtesy: Google

    Google unveiled two new Pixel phones Wednesday as it continues to try to take smartphone market share away from Apple. The Pixel 8 and Pixel 8 Pro have new AI-powered editing tools built into the camera app, among other features. The new Best Take tool allows users to take a series of photos and then pick the best takes from each image and combine them into one picture where everyone is looking at the camera and smiling. Meanwhile, Apple released a software update that it said will fix a bug that’s led to overheating iPhones. Some consumers who bought the new titanium iPhone 15 models complained online that they were (literally) too hot to handle.

    4. More forgiveness

    WASHINGTON, DC – OCTOBER 04: U.S. President Joe Biden delivers remarks on new Administration efforts to cancel student debt and support borrowers at the White House on October 04, 2023 in Washington, DC. 

    Kevin Dietsch | Getty Images

    President Joe Biden canceled another $9 billion of student loan debt on Wednesday. The relief comes from his administration’s fixes to a number of programs, including income-driven repayment plans and Public Service Loan Forgiveness. About 125,000 Americans will benefit from the new round of forgiveness. The move comes after the Supreme Court struck down Biden’s plan to cancel up to $20,000 in student loan debt for tens of millions of Americans. That means many people had to start repaying their student loans, beginning on Oct. 1, for the first time in three years after a stretch of time when payments were paused amid the pandemic.

    5. Disney discounts

    Visitors can avoid lines at Disney World if they buy into the system.

    Joseph Prezioso | Anadolu Agency | Getty Images

    Maybe dreams do come true. Disney is offering discounts on children’s tickets at its domestic theme parks. The deal, which is good for a limited time, comes as park attendance is lagging. Disney and others in the business have seen a slowdown in attendance and hotel room occupancy as consumers deal with inflation. Nonetheless, parks remain profitable for the company and it’s planning to double down on its parks. For the discounts, children’s tickets (valid for kids aged 3 to 9) for the California-based Disneyland resort will be available for as low as $50, while the Florida-based Disney World will offer half-off children’s tickets and dining plans for four-night stays.

    — CNBC’s Hakyung Kim, Jeff Cox, Spencer Kimball, Sofia Blum, Kif Leswing, Annie Nova and Sarah Whitten contributed to this report.

    — Follow broader market action like a pro on CNBC Pro.

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  • How to maximize your streaming in October 2023, and why Netflix is all you really need

    How to maximize your streaming in October 2023, and why Netflix is all you really need

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    It’s time to churn, baby, churn.

    The streaming scene has changed significantly over the past year or so, and for the worse: more expensive, less new programming, smaller libraries of older shows. And it’s coming at a time when consumers are being increasingly pressed by higher costs on all fronts. Prices for Disney’s ad-free tiers are rising sharply in October, and Amazon will jack up prices early next year for those who don’t want to see commercials. So it’s time for consumers to once again reassess which services are really worth paying for.

    There are three options if you don’t want your monthly streaming bill to look like your old triple-digit cable bill: bundle (you can save significantly with a Hulu-Disney+ package, for example), move to cheaper plans with commercials (ugh) or just drop the services you watch least. Pick a maximum monthly price ceiling and stick to it — at this point, most people don’t need more than two or three services anyway.

    If you’re frustrated by paying more for less, and want to make a point, cancelling a service is the one way that companies will take notice. Streaming services hate churn (adding and dropping services month-to-month) because it lowers their subscriber base and forces them to raise their marketing costs to win you back. As a consumer, it’s really your only weapon.

    Don’t like how Max keeps removing older shows? Dump it. Finding yourself watching less and less Disney+? Ditch it. It’s satisfying, it’s economical and you can always sign up again in the future.

    One benefit of streaming services is they’re a lot easier to cancel than cable. With prices soaring, now’s the time to be brutal in winnowing your subscriptions. A churn strategy takes some planning, but it pays off. Keep in mind that a billing cycle starts when you sign up, not necessarily at the beginning of the month.

    Each month, this column offers tips on how to maximize your streaming and your budget, rating the major services as a “play,” “pause” or “stop” — similar to investment analysts’ traditional ratings of buy, hold or sell, and picks the best shows to help you make your monthly decisions.

    Here’s a look at what’s coming to the various streaming services in October 2023, and what’s really worth the monthly subscription fee:

    Netflix ($6.99 a month for basic with ads, $15.49 standard with no ads, $19.99 premium with no ads)

    After a ho-hum past few months, Netflix
    NFLX,
    +0.33%
    is rolling out a more robust lineup in October. Which is nice, because no other streaming service is.

    After a two-year layoff, the French heist thriller series “Lupin” (Oct. 5) returns for its third season. Omar Sy stars as a master thief who’s now on the lam, and he carries the show largely on his charisma. It’s a fun one, and a welcome return for viewers.

    But the big-name show of the month is “The Fall of the House of Usher” (Oct. 12), from horror hit-maker Mike Flanagan (“The Haunting of Hill House,” “Midnight Mass”). The miniseries, based on Edgar Allan Poe’s classic story, combines Gothic horror with a modern twist, as the corrupt CEO of a family-owned and scandal-plagued pharmaceutical company is forced to face demons from his past as his family members keep dying, one by one, in increasingly gruesome ways. The sprawling cast includes Bruce Greenwood, Annabeth Gish, Carl Lumbly, Carla Gugino, Rahul Kohli, Mark Hamill, Henry Thomas and Mary McDonnell. This should be one to watch, if for nothing else than to finally see a Sackler-like family get their comeuppance.

    Also on the way: the seventh seasons of the raunchy animated adolescent comedy “Big Mouth” (Oct. 20) and the Spanish high school soap “Elite” (Oct. 20); “Pain Hustlers” (Oct. 27), a meh-looking satirical crime drama starring Emily Blunt and Chris Evans as scheming pharmaceutical reps; and the nature documentary “Life on Our Planet” (Oct. 25), narrated by Morgan Freeman.

    More: What’s new on Netflix in October 2023 — and what’s leaving

    And you may have missed it, but Netflix snuck in a new season of “The Great British Baking Show” at the end of September. New episodes stream every Tuesday, and feature new co-host Alison Hammond, replacing Matt Lucas, who always seemed out of place.

    Who’s Netflix for? Fans of buzz-worthy original shows and movies.

    Play, pause or stop? Play. Between some good-looking new shows, fresh eps of the “Great British Baking Show” and recent additions such as “Sex Education” (though its final season is underwhelming) and HBO’s classic “Band of Brothers,” Netflix is once again a must-have.

    Max ($9.99 a month with ads, or $15.99 with no ads)

    After a dismal September, Max has a better October lineup, with Season 2 of the beloved pirate comedy “Our Flag Means Death” (Oct. 5), starring Rhys Darby and Taika Waititi as wildly different ship captains involved in a star-crossed romance; Season 2 of “The Gilded Age” (Oct. 29), Julian Fellowes’ “Downton Abbey”-esque costume drama set in 1880s New York high society, with a sprawling cast that includes Carrie Coon, Cynthia Nixon, Christine Baranski, Morgan Spector and Louisa Jacobson; and the fourth and final season of the DC superhero dramedy “Doom Patrol” (Oct. 12).

    Notably, Warner Bros. Discovery’s
    WBD,
    +1.59%
    Max is launching its live-sports tier — the unfortunately named Bleacher Report Sports — on Oct. 5, just in time for the MLB playoffs and upcoming NBA season. The add-on tier will be free for all subscribers through February, when its price will shoot up to $9.99 a month.

    Also: What’s new on Max in October 2023 — and what’s leaving

    This is also your last chance to watch a bunch of AMC shows that are getting a two-month promotional run on Max: “Fear the Walking Dead” Seasons 1-7, “Anne Rice’s Interview with the Vampire” Season 1, “Dark Winds” Season 1, “Gangs of London” Seasons 1-2, “Ride with Norman Reedus” Seasons 1-5, “A Discovery of Witches” Seasons 1-3, and “Killing Eve” Seasons 1-4 will all leave Oct. 31. Do yourself a favor and at least watch “Dark Winds.”

    One more hidden gem to discover: Season 3 of the British rom-com “Starstruck,” which landed Sept. 28. It’s utterly charming and unwaveringly romantic, with literal LOL moments and some of the most swoon-worthy banter in recent years. Catch up with all three seasons, it’s an easy binge that’s well worth it.

    Who’s Max for? HBO fans and movie lovers. And now, unscripted TV fans too, with a slew of Discovery shows.

    Play, pause or stop? Pause and think it over. It’s an exceptionally weak month for streamers, but Max’s lineup — especially with the addition of live sports and its deep library — makes it one of the least weakest.

    Amazon’s Prime Video ($14.99 a month, or $8.99 without Prime membership)

    Prime Video has a fine lineup in October. Not great. Not terrible. But very OK.

    “Totally Killer” (Oct. 6) looks to be a cleverer-than-most spin on a horror trope, as Kiernan Shipka (“Mad Men”) stars as a 17-year-old who travels back in time to 1987 to stop a serial killer before he can start a slaying spree that terrorized her mother (Julie Bowen).

    Greg Daniels’ existential comedy “Upload” (Oct. 20) is back for its third season of rom-com exploits in a digital afterlife, thanks to uploaded consciousness. (Disclaimer: I liked Season 1, but can’t for the life of me remember if I ever watched Season 2, which doesn’t bode well, but perfectly fits this month’s “meh it’s OK” theme.)

    Meanwhile, Amazon’s
    AMZN,
    +0.90%
    free, ad-supported channel, Freevee, has the second season of “Bosch: Legacy” (Oct. 20), the “Bosch” spinoff starring Titus Welliver as a private investigator in L.A., while his daughter Maddie (Madison Lintz) charts her own path as a police officer. As gritty detective shows go, it’s solid.

    Prime Video also has a decent lineup of NFL Thursday Night Football; “The Burial” (Oct. 13), a funeral-home drama movie starring Oscar-winners Jamie Foxx and Tommy Lee Jones; all 11 seasons of the classic sitcom “Frasier” (Oct. 1), just in time for the reboot on Paramount+; as well as new eps every week of “The Boys” spinoff “Gen V” and the season finale of “The Wheel of Time” (Oct 6).

    See more: Everything coming to Amazon’s Prime Video and Freevee in October 2023

    It’s also a good time to dig into Prime Video’s extensive library, before commercials come early next year. In an obnoxious move, rather than add an ad-supported tier at a lower price, Amazon will subject all subscribers to commercials — unless they pay an extra $3-a-month ransom. Commercials will be especially annoying on Prime’s more cinematic series, so watch great-looking shows like “I’m a Virgo,” “Dead Ringers” and “The English” interruption-free, while you still can.

    Who’s Prime Video for? Movie lovers, TV-series fans who value quality over quantity.

    Play, pause or stop? Pause. There’s no a compelling reason to start a subscription now, but if you already have one, there’s probably enough to watch.

    Disney+ ($7.99 a month with ads, $13.99 with no ads, starting Oct. 12)

    After a hiatus of more than two years, Marvel’s “Loki” (Oct. 5) is finally back for its second season. The new season finds the eponymous god of mischief (played by Tom Hiddleston) bouncing across the multiverse in a battle for free will while trying to elude agents of the mysterious Time Variant Authority. Season 1 of “Loki” was one of Marvel’s better TV adaptations, and hopes are high that Season 2 can recapture that sense of chaotic fun. Owen Wilson returns as TVA agent Mobius, and Oscar winner Ke Huy Quan (“Everything Everywhere All at Once”) joins the cast, which also features Jonathan Majors as big bad Kang the Conqueror, which is… problematic. Disney is reportedly still planning for Majors to play a key role in “Loki” and the next phase of “Avengers” movies despite his arrest on assault charges earlier this year, which prompted troubling allegations of past physical and emotional abuse toward women. (“Loki” had already finished filming prior to his arrest.)

    Disney also has “Goosebumps” (Oct. 13), about a group of high school friends fighting supernatural forces as they uncover long-buried secrets about their small town in this series adaptation of R.L. Stine’s hugely popular series of spooky novels. (It’ll also stream on Hulu.)

    The “Star Wars” spinoff “Ahsoka” has its season finale Oct. 3, while ABC’s “Dancing with the Stars” will stream every Tuesday.

    Who’s Disney+ for? Families with kids, hardcore “Star Wars” and Marvel fans. For people not in those groups, Disney’s
    DIS,
    +1.15%
     library can be lacking.

    Play, pause or stop? Pause. The price of ad-free Disney+ jumps by $3 a month starting Oct. 12 — how much do you or your family really want to watch “Loki” and “Goosebumps”? It’ll be worth it for some, but an opportune time to cancel for others.

    Hulu ($7.99 a month with ads, or $17.99 with no ads, starting Oct. 12)

    Hulu has been on a fantastic run since the start of summer, but all good things must end. And it happens to coincide with a $3-a-month hike to its ad-free subscription.

    October’s lineup is weak, and heavily weighed toward Halloween-themed fare, such as Season 2 of FX’s spinoff anthology “American Horror Stories” (Oct. 26); the Stephen King thrillers “Rose Red” (Oct. 1) and “The Boogeyman” (Oct. 5); the Starz horror series “Ash vs. Evil Dead” (Oct. 1); the body-horror movie “Appendage” (Oct. 2); and “Goosebumps” (Oct. 13), a live-action adaptation of R.L. Stine’s bestselling kids’ book series (which will also stream on Disney+).

    Non-horror shows include new seasons of Fox’s “The Simpsons,” “Family Guy” and “Bob’s Burgers” (all Oct. 2), and Season 2 of the comedy “Shorsey” (Oct. 27), the “Letterkenny” spinoff series about minor-league hockey that has a surprising amount of heart to go with its absolutely filthy dialogue.

    For more: What’s coming to Hulu in October 2023 — and what’s leaving

    As an added bonus, all five seasons of ABC’s 1980s detective-agency rom-com “Moonlighting” (Oct. 10), starring Bruce Willis and Cybill Shepherd, will stream for the first time ever (legally at least). If I remember correctly, there were some really high highs but also some really low lows — but it’ll be worth checking out, for nostalgia if nothing else.

    There are also new eps every week of “The Golden Bachelor” and “Bachelor in Paradise,” the season finale of “Only Murders in the Building” (Oct. 3) and the series finale of “Archer” (Oct. 11). And if you missed it, all three seasons of “Reservation Dogs” are there and just begging to be watched, or rewatched. (It’s about as perfect as a TV series could ever be, and the recently concluded Season 3 is the best thing I’ve seen this year.)

    Who’s Hulu for? TV lovers. There’s a deep library for those who want older TV series and next-day streaming of many current network and cable shows.

    Play, pause or stop? Stop. If you’re on the ad tier, this month might be tolerable, but it’s certainly not worth $17.99.

    Paramount+ ($5.99 a month with ads, $11.99 a month with Showtime and no ads)

    Twenty years after ending its 11-season run (with 37 Emmy wins), the classic sitcom “Frasier” (Oct. 12) is back. Sort of. Kelsey Grammar returns in this revival as the pompous Dr. Frasier Crane, who’s moved back to Boston to be closer to his adult son (played by Jack Cutmore-Scott), who doesn’t necessarily want him there. The cast is mostly new, though Bebe Neuwirth (as Frasier’s ex-wife Lilith) and Peri Gilpin (his radio producer Roz) will reportedly guest star. David Hyde Pierce (Niles) and Jane Leeves (Daphne) will not return, however, which is a bummer since that’s where much of the original show’s laughs came from (John Mahoney, who played Frasier’s father Marty Crane, died in 2018). The jury’s out on this one — while in theory, it could be a refreshing update to a nostalgic favorite, the trailer is not encouraging.

    Paramount+ also has “Pet Sematary: Bloodlines” (Oct. 6), a creepy prequel to the 2019 horror reboot; “Fellow Travelers” (Oct. 27), a decades-spanning queer love story starring Matt Bomer and Jonathan Bailey; and Showtime’s courtroom drama “The Caine Mutiny Court-Martial” (Oct. 6), the late director William Friedkin’s last film, starring Keifer Sutherland, the late Lance Reddick and Jake Lacy.

    That’s on top of a live-sports lineup that includes SEC and Big Ten college football on Saturdays, NFL football every Sunday and UEFA Champions League soccer matches.

    Who’s Paramount+ for? Gen X cord-cutters who miss live sports and familiar Paramount Global
    PARA,
    +0.62%
     broadcast and cable shows.

    Play, pause or stop? Stop. There’s a good football lineup, at least.

    Apple TV+ ($6.99 a month)

    It’s another slow month for Apple
    AAPL,
    +0.30%    ,
    highlighted by the miniseries “Lessons in Chemistry” (Oct. 13), based on Bonnie Garmus’ bestselling novel. Brie Larson stars as a woman in the 1950s whose dreams of becoming a scientist are scuttled by male chauvinism, and instead becomes the host of a TV cooking show, where she inspires housewives and fights the patriarchy. Apple is getting a reputation for getting big-name stars for prestige-type series, only for the shows to fizzle out and quickly be forgotten (like “Mosquito Coast,” “Hello Tomorrow” and “Dear Edward,” for starters). I have yet to see any marketing for this series, and it would not be a surprise for someone to ask six months from now: “Wait, Brie Larson was in an Apple show?”

    There’s also a new documentary from Errol Morris, “The Pigeon Tunnel” (Oct. 20), about the life of spy-turned-writer David Cornwell, aka John le Carré; and “The Enfield Poltergeist” (Oct. 27), a four-part docuseries about the supposed real-life haunting that inspired “The Conjuring 2.”

    Apple’s biggest title will be on Oct. 20 in movie theaters, with the wide release of Martin Scorsese’s “Killers of the Flower Moon,” the spectacular-looking historical drama about a series of mysterious killings of Osage tribal members in Oklahoma in the 1920s, starring Leonardo DiCaprio, Lily Gladstone and Robert De Niro. There’s no streaming release date yet, but expect it to land on Apple TV+ after its theatrical run, possibly in November but more likely in December.

    There are also new episodes every week of “The Morning Show,” “The Changeling” (season finale Oct. 13) and “Invasion” (season finale Oct. 25).

    Who’s Apple TV+ for? It offers a little something for everyone, but not necessarily enough for anyone — although it’s getting there.

    Play, pause or stop? Stop. Apple’s had a great year, but there’s just not a lot on right now. But there’s good stuff coming in November (Season 4 of “For All Mankind”) and December (Season 3 of “Slow Horses”).

    Remember, you can get three free months of Apple TV+ if you buy a new iPhone, iPad or Mac. Strategically, if you buy an iPhone 15, and wait a bit to redeem the free trial, you’ll want it to extend into January.

    Peacock (Premium for $5.99 a month with ads, or $11.99 a month with no ads)

    It’s all about horror and sports for Peacock this October.

    On the scary side, there’s Season 2 of the werewolf rom-com “Wolf Like Me” (Oct. 19), starring Josh Gad and Isla Fisher; “Five Nights at Freddy’s” (Oct. 27), a horror movie based on the videogame about a troubled security guard who starts working the night shift at a cursed pizza parlor, starring Josh Hutcherson and Matthew Lillard; and the true-crime anthology “John Carpenter’s Suburban Screams” (Oct. 13).

    On the sports side, Peacock has the Rugby World Cup (through Oct. 28), NFL Sunday Night Football, Big Ten and Notre Dame college football, English Premier League soccer, and a full slate of golf, motorsports and horse racing.

    Meanwhile, the “John Wick” prequel miniseries “The Continental” ends Oct. 6.

    Who’s Peacock for? Live sports and next-day shows from Comcast’s
    CMCSA,
    -1.16%
     NBCUniversal are the main draw, but there’s a good library of shows and movies.

    Play, pause or stop? Stop. The live-sports offerings are the only lure.

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  • Hollywood writers strike declared over after boards approve new contract with studios

    Hollywood writers strike declared over after boards approve new contract with studios

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    LOS ANGELES — Leaders of the screenwriters union declared their nearly five-month-old strike over Tuesday after board members approved a contract agreement with studios, bringing Hollywood at least partly back from a historic halt in production.

    The governing boards of the eastern and western branches of the Writers Guild of America and their joint negotiating committee all voted to accept the deal, two days after the tentative agreement was reached with a coalition of Hollywood’s biggest studios, streaming services and production companies. After the vote they declared that the strike would be over and writers would be free to start on scripts at 12:01 a.m. Wednesday.

    Late-night talk shows — the first to go dark when writers walked out on May 2 — are likely the first shows that will resume. Scripted shows will take longer to return, with actors still on strike and no negotiations yet on the horizon.

    The writers still have to vote to ratify the contract themselves in early October, but lifting the strike will allow them to work during that process, the guild told members in an email.

    After Tuesday’s board votes, the contracts were released for the first time to the writers, who had not yet been given any details on the deal, which their leaders called “exceptional.”

    The three-year agreement includes significant wins in the main areas writers had fought for — compensation, length of employment, size of staffs and control of artificial intelligence — matching or nearly equaling what they had sought at the outset of the strike.

    The union had sought minimum increases in pay and future residual earnings from shows of between 5% and 6%, depending on the position of the writer. The studios had wanted between 2% and 4%. The compromise deal was a raise of between 3.5% and 5%.

    The guild also negotiated new residual payments based on the popularity of streaming shows, where writers will get bonuses for being a part of the most popular shows on Netflix
    NFLX,
    -1.44%    ,
    Max and other services, a proposal studios initially rejected. Many writers on picket lines had complained that they weren’t properly paid for helping create heavily watched properties.

    The writers also got the requirement they sought that shows intended to run at least 13 episodes will have at least six writers on staff, with the numbers shifting based on the number of episodes. They did not get their desire for guaranteed staffs of six on shows that had not yet been ordered to series, settling instead for a guaranteed three.

    Writers also got a guarantee that staffs on shows in initial development will be employed for at least 10 weeks, and that staffs on shows that go to air will be employed for three weeks per episode.

    On artificial intelligence, the writers got the regulation and control of the emerging technology they had sought. Under the contract, raw, AI-generated storylines will not be regarded as “literary material” — a term in their contracts for scripts and other story forms a screenwriter produces. This means they won’t be competing with computers for screen credits. Nor will AI-generated stories be considered “source” material, their contractual language for the novels, video games or other works that writers may adapt into scripts.

    Writers have the right under the deal to use AI in their process if the company they are working for agrees and other conditions are met. But companies cannot require a writer to use AI.

    Still-striking members of the Screen Actors Guild-American Federation of Television and Radio Artists returned to the picket lines earlier Tuesday for the first time since the writers struck their tentative deal, and they were animated by a new spirit of optimism.

    “For a hot second, I really thought that this was going to go on until next year,” said Marissa Cuevas, an actor who has appeared on the TV series “Kung Fu” and “The Big Bang Theory.” “Knowing that at least one of us has gotten a good deal gives a lot of hope that we will also get a good deal.”

    Writers’ picket lines had been suspended, but they were encouraged to walk in solidarity with actors, and many were on the lines Tuesday, including “Mad Men” creator Matthew Weiner, who picketed alongside friend and “ER” actor Noah Wyle as he has throughout the strikes.

    “We would never have had the leverage we had if SAG had not gone out,” Weiner said. “They were very brave to do it.”

    The Alliance of Motion Picture and Television Producers, which represents the studios in negotiations, chose to deal with the longer-striking writers first, and leaders of SAG-AFTRA said they had received no overtures on resuming talks. That’s likely to change soon.

    Actors also voted to authorize their leadership to potentially expand their walkout to  include the lucrative videogame market, a step that could put new pressure on Hollywood studios to make a deal with the performers who provide voices and stunts for games.

    The Screen Actors Guild-American Federation of Radio and Television Artists announced the move late Monday, saying that 98% of its members voted to go on strike against videogame companies if ongoing negotiations are not successful. The announcement came ahead of more talks planned for Tuesday.

    Acting in videogames can include a variety of roles, from voice performances to motion capture work as well as stunts. Video game actors went on strike in 2016 in a work stoppage that lasted nearly a year.

    Some of the same issues are at play in the video game negotiations as in the broader actors strike that has shut down Hollywood for months, including wages, safety measures and protections on the use of artificial intelligence. The companies involved include gaming giants Activision Blizzard
    ATVI,
    -0.05%    ,
    Electronic Arts
    EA,
    -1.13%    ,
    Epic Games, Take 2 Productions
    TTWO,
    -0.99%
    as well as Disney
    DIS,
    -1.19%
    and Warner Bros.′
    WBD,
    +0.28%
    videogame divisions.

    “It’s time for the videogame companies to stop playing games and get serious about reaching an agreement on this contract,” SAG-AFTRA President Fran Drescher said in a statement.

    Audrey Cooling, a spokesperson for videogame producers, said they are “continuing to negotiate in good faith” and have reached tentative agreements on more than half of the proposals on the table.

    So far this year, U.S. consumers have spent $34.9 billion on videogames, consoles and accessories, according to market research group Circana.

    The threat of a videogame strike emerged as Hollywood writers were on the verge of getting back to work after months on the picket lines.

    The alliance of studios, streaming services and producers has chosen to negotiate only with the writers so far, and has made no overtures yet toward restarting talks with SAG-AFTRA. That will presumably change soon.

    SAG-AFTRA leaders have said they will look closely at the writers’ agreement, which includes many of the same issues, but it will not effect their demands.

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