- GRIT
- Posts
- Disney Keeps The Kingdom
Good Morning!
Happy Thursday! It is almost Friday:
👉 Disney, Iger has a big win
👉 Amazon does more layoffs
👉Fed chair speaks
STOCK MARKET MADNESS IS ON 📈
Click HERE to view our bracket! 🏀 Let’s recap the championship 🥊
In a MASSIVE upset, the #15 seed Hertz wins the Stock Market Madness challenge. What a run.
DISNEY: Big Win
Disney's shareholders recently voted to keep the current board, showing they trust CEO Bob Iger to improve share prices and find a good successor. Now, Iger has a year to prove he can make Disney's streaming services profitable, improve ESPN's online strategy, succeed at the box office, and select a successor.
Source: WSJ
Disney plans to make its streaming businesses profitable by the end of this fiscal year, a big step since launching Disney+ in 2019. Iger's plan involves cutting costs on content like movies and sports rights by $4.5 billion. For ESPN, Disney is changing its strategy to fit the digital age. It will introduce a sports bundle and a new ESPN streaming service with features for sports betting and fantasy leagues. This is part of moving away from traditional cable to more digital offerings, although it's important they keep it simple for consumers.
🎯 GRIT TAKE: In our opinion, this is a major…upgrade to VIP now to read the full GRIT Take!
AMAZON: More Layoffs
Amazon's AWS division is cutting jobs in its store technology, sales, and marketing teams, the company announced. AWS, once rapidly growing, has seen a sales slowdown as businesses reduce cloud spending due to higher interest rates. Despite this, Amazon remains optimistic about future growth.
Source: VOX
The layoffs affect the team behind Amazon's cashierless "Just Walk Out" technology, Dash carts, and Amazon One palm payment, which moved to AWS in 2022. This move aligns with Amazon's strategy to adjust its technology use in both its own and third-party stores. This is part of Amazon's larger job reduction effort, which has seen over 27,000 roles eliminated across the company since late 2022, including in Twitch, Audible, and its Prime services. Affected U.S. employees will get 60 days of pay and benefits, plus severance.
FED: Holding Steady
Federal Reserve Chair Jerome Powell recently indicated that understanding inflation trends is crucial before deciding on any interest rate reductions. Despite noticing unexpected inflation increases, he emphasized a cautious approach, stating that rate cuts would only be considered once there's confidence inflation is moving towards the 2% target.
Source: Bloomberg
This stance comes amid persistent high inflation, though other economic signs, like employment and consumer spending, remain strong. Powell, along with other Federal Reserve officials, suggests a patient policy approach, hinting at possible rate adjustments later in the year based on data.
Headlines You Need To Know: 🎙
Chart of the Day
📊 Magnificent Seven or Not?
Source: Statista
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstreetoasis
Do you have feedback to share? Click HERE.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy, State Disclosure Policy, and Disclaimer Policy
If you have any questions please contact us at help@gritcap.io
Reply