Jim Cramer weighs in on how investors should approach a market-moving speech, Disney+ DIS launch and CBS CBS earnings.
What’s Up With President Trump?
President Trump will be speaking at the New York Economic Club Tuesday afternoon.
Trump is expected to devote most of his address to the famous Economic Club in Manhattan on trade, tariffs and the broader economy amid speculation he could signal a willingness to roll back tariffs on China-made goods and possibly announce a delay on proposed levies on European-made cars for another six months.
TheStreet’s Martin Baccardax has penned a primer on what investors need to know ahead of the speech and TheStreet’s Nelson Wang will be reporting live from the event.
It’s Launch Time
Disney+ has officially launched.
By any measure, the $6.99 per month subscription gives viewers a lot of bang for their buck. Serving as the linchpin for Disney’s broader direct-to-consumer strategy, Disney+ is anchored by Pixar, National Geographic, Disney Channel, Star Wars and other Disney-owned properties, and includes 500 movies, 7500 episodes of library content and several original programs right out of the gate, reported TheStreet’s Annie Gaus.
On a call last week, Disney CEO Bob Iger told investors the strategy is to “launch big and scale fast” — and accordingly, the media giant also offered a range of discounts to drive pre-sales, including a deal with Verizon that will offer one year free to wireless subscribers on unlimited plans.
CBS Earnings
CBS reported adjusted earnings for the three months ending in September came in at 95 cents per share, down 23.4% from the same period last year but 3 cents ahead of the Street consensus forecast. Group revenues, CBS said, rose modestly from last year to $3.3 billion, just shy of analysts’ estimates of a $3.58 billion tally.
“We delivered record third-quarter revenues as we continue to increase our investment in our premium content and direct-to-consumer streaming services, which is the cornerstone of our growth strategy,” said acting CEO Joe Ianniello. “During the quarter, our direct-to-consumer revenue from CBS All Access and Showtime OTT grew 39% from last year, driven by a strong slate of original programming.”
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