(KRON) — In today’s installment of Winners & Losers, financial expert Rob Black discusses a continuing fear of inflation, the National Football League’s new streaming service and the potential sale of WWE.
Loser: Fear of inflation, the Fed and earnings send stocks lower
Stocks fell as investors mulled disappointing earnings from Walmart and General Motors and braced for results from Big Tech due out after the bell.
Alphabet and Microsoft will come after today’s close, the Fed during Wednesday’s trade, Meta Platforms (Facebook) after Wednesday’s close and Apple and Amazon.com after Thursday’s close.
Home price growth slowed for the second straight month in May but was still 19.7% higher compared with the same month last year,
Walmart says the high cost of food and gas is hindering customers from buying anything else.
IMF cut their global growth forecast, warning risks to the outlook “are overwhelmingly tilted to the downside” and stressing the “extraordinarily uncertain” outlook.
McDonald’s and Coca-Cola’s earnings shows companies are managing through tough times.
Winner: NFL tackling its own streaming app
The Hulu of hard knocks.
The NFL has decided that the best company to take a crack at streaming its games is itself.
On Monday, the league launched its new streaming service, NFL+ (great name, no notes), for $4.99/month, or $39.99/year.
NFL+ will give subscribers access to in-market Sunday afternoon games and national games on Sunday, Monday and Thursday nights.
A premium version of the service for an additional $5 a month (or $79.99 per year) will feature full replays and bird’s-eye views of games that armchair GMs can use to analyze plays.
NFL+ does have one challenge flag — games on the app will only be viewable on mobile devices or tablets, not TVs.
Hopefully that strategy is sound, because the league is giving up big money: Its last mobile deal with Verizon paid out around $2.3 billion over five years.
Looking ahead … the NFL is sifting through bids for the rights to its lucrative $1.5 billion Sunday Ticket package, which DirecTV has held since 1994 (their deal expires after this season).
Apple, Amazon and Youtube TV are reportedly the front-runners.
Winner: World Wrestling Entertainment might be sold to streamers
HULK Hogan and the Undertaker is for sale???
Vince McMahon, the CEO of WWE, is retiring after being caught up in numerous sex scandals and cover ups at WWE.
WWE is a recognized leader in global entertainment sports. It produces original content 52 weeks a year and distributes it to a global audience. WWE is committed to family-friendly entertainment.
WWE can be seen in more than 1 billion homes worldwide in 30 languages through NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers.
A Loop Capital analyst said there is a greater likelihood the company will be sold after the retirement of McMahon.
Comcast, Walt Disney, Amazon.com and possibly even Netflix are logical buyers.
There is demand for live event programming, and it is the first time that one could realistically think that WWE could be for sale.