SAN FRANCISCO (KRON) - In today's edition of Rob Black's Winners and Losers, our financial expert Rob Black and KRON4's James Fletcher talk about Bitcoin, media stocks, and the World Cup.
Here are today's Winners and Losers:
Winner: Media stocks soar after AT&T-Time Warner court decision raises value of all content properties . . . Wall Street analysts expect more media industry mergers and acquisitions after AT&T's legal victory in its deal to buy Time Warner. Shares of major media content companies are rising Wednesday. Time Warner and CBS shares were up more than 3 percent, while 21st Century Fox was up more than 7 percent and Viacom rose 3 percent. Netflix also rallied nearly 1 percent. TV content stocks [are] surging, post-close, on expectations of a merger wave that we see as sensible—but not without risk. The ruling may lead to more mergers moves because it raises the perception of a "more lenient regulatory environment" for acquisitions.
Loser: How a Fed rate hike impacts credit cards, mortgages, savings rates . . .The Fed is raising rates today and in the near term. Borrowing costs will head even higher for shoppers. The good news is some bank customers will start to see noticeably higher savings rates. Americans with credit cards, adjustable-rate mortgages and home equity lines of credit would see their monthly payments rise if the Federal Reserve lifts its key short-term interest rate by a quarter percentage point to a range of 1.75% to 2%, as forecast. Car buyers may feel it, too, though they’re still benefiting from a competitive auto loan market that’s keeping borrowing costs low. Any effect on 30-year mortgages and other long-term loans would likely be muted.
Winner: U.S., Canada and Mexico celebrate FIFA nod to jointly host World Cup .. . big business for NAFTA group . . The U.S.’s previous turn as host came in 1994, when it set a World Cup attendance record that still stands today. WorldCp will create large tourism for the three countries.
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- WOMAN KILLED IN CRASH AFTER TREE FALLS ON DANVILLE FREEWAY
- MEXICAN DRUG CARTEL LEADER 'LA BARBIE' GETS NEARLY 50 YEARS
- TEENAGER WARNS OTHERS AFTER BABY BROTHER DIES IN HOT CAR
- MAN SUES CVS FOR TELLING HIS WIFE ABOUT VIAGRA PRESCRIPTION