Latest news with #LaurentYoon
Globe and Mail
2 days ago
- Business
- Globe and Mail
Analysts Offer Insights on Communication Services Companies: Warner Bros (WBD) and DoorDash (DASH)
Companies in the Communication Services sector have received a lot of coverage today as analysts weigh in on Warner Bros (WBD – Research Report) and DoorDash (DASH – Research Report). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Warner Bros (WBD) Bernstein analyst Laurent Yoon maintained a Hold rating on Warner Bros today and set a price target of $11.00. The company's shares closed last Thursday at $11.65. According to Yoon is a 4-star analyst with an average return of 10.3% and a 75.0% success rate. Yoon covers the NA sector, focusing on stocks such as Paramount Global Class B, Charter Communications, and T Mobile US. ;'> The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Warner Bros with a $12.82 average price target, which is an 11.6% upside from current levels. In a report issued on July 2, Wells Fargo also maintained a Hold rating on the stock with a $11.00 price target. DoorDash (DASH) In a report released today, Mike McGovern from Bank of America Securities maintained a Buy rating on DoorDash, with a price target of $245.00. The company's shares closed last Thursday at $238.24. McGovern has an average return of 33.3% when recommending DoorDash. ;'> According to McGovern is ranked #1798 out of 9871 analysts. DoorDash has an analyst consensus of Moderate Buy, with a price target consensus of $229.04, which is a -6.7% downside from current levels. In a report issued on June 29, Raymond James also maintained a Buy rating on the stock.
Chicago Tribune
21-04-2025
- Business
- Chicago Tribune
Disney's parks are its economic engine. Tariffs could put a damper on it
As trade tensions and tariff-fueled fears of a recession roil the economy, stock analysts warn that Walt Disney Co.'s theme parks could take a hit. Typically, amusement park attendance in the U.S. is tied to the health of the American economy. When people feel better about their financial situation, they're more likely to spend on discretionary purchases, such as a Disney vacation, said Laurent Yoon, senior analyst at Bernstein. 'When the economy is not doing well, the parks' performance tends to follow that trend,' said Yoon, who wrote a note to clients late last week about the pressures on the company, including the parks' exposure to economic shifts. Over the last few months, consumer sentiment has plunged amid fears of a trade war and President Trump's tumultuous changes on tariff policies. This month, a University of Michigan survey found that consumer sentiment in April dropped 11% from March, marking the fourth straight month of declines. 'Economic hope and economic optimism are big drivers of the American economy,' said Martin Lewison, associate professor of business management at Farmingdale State College in New York. 'When that optimism dries up, it changes consumption behavior.' This could affect future bookings for the Disney parks. Visitors who have already scheduled trips tend not to cancel, but those who were considering a vacation may put it off if they're concerned about their personal financial situations, said Jessica Reif Ehrlich, senior media and entertainment analyst at Bank of America. Disney did not respond to a request for comment. The company's parks could also be vulnerable to decreased international tourism. Trade tensions between the U.S. and other nations have already led to some anti-American backlash. Canadians, for example, have been boycotting American products in stores and canceling their plans to visit the U.S. after Trump has repeatedly called for annexing Canada as the 51st state. Overall international travel to the U.S. is expected to decrease by 5% this year, with a 15% decline from Canada, according to Tourism Economics, a Philadelphia-based travel data company. Although Disney does not release visitor tallies, international tourists are a vital source of business for Walt Disney World in Orlando, Fla., and Disneyland Resort in Anaheim, even if they have not returned in the same numbers as before the pandemic. 'International visitors are really important,' Reif Ehrlich said.'They tend to spend more and stay longer so they're really profitable.' In 2023, about 8% of Orlando's visitors were from other countries, according to data from the Visit Orlando trade association. International visitors (not including Canada) stayed about eight nights and spent a little more than $1,110 per person on their trip, the association said. Anaheim attracted a total of 25.8 million visitors in 2023, according to the Visit Anaheim marketing association. Those visitors spent $6.5 billion, an increase of 7.5% compared with 2022, the group said. Disney was already feeling the heat from rival Universal's new Epic Universe theme park, which is opening next month in Orlando. Disney executives have fielded questions during nearly every earnings call about plans to compete against the new theme park and repeatedly said bookings were positive. The theme parks are key to the Burbank-based media and entertainment company's overall finances. Disney's experiences division — which includes its theme parks in the U.S. and around the world, as well as its cruise line, merchandise and luxury travel experiences such as the Aulani resort and spa in Hawaii — has long been the economic engine that powers the company. Last year, the division brought in almost 60% of the company's operating income. Disney plans to invest $60 billion over 10 years into the division to lure new visitors and give frequent guests a reason to come back. That includes major expansions to Disneyland Resort and Walt Disney World.
Yahoo
17-04-2025
- Business
- Yahoo
Disney's parks are its economic engine. Tariffs could put a damper on it
As trade tensions and tariff-fueled fears of a recession roil the economy, stock analysts warn that Walt Disney Co.'s theme parks could take a hit. Typically, amusement park attendance in the U.S. is tied to the health of the American economy. When people feel better about their financial situation, they're more likely to spend on discretionary purchases, such as a Disney vacation, said Laurent Yoon, senior analyst at Bernstein. "When the economy is not doing well, the parks' performance tends to follow that trend,' said Yoon, who wrote a note to clients late last week about the pressures on the company, including the parks' exposure to economic shifts. Over the last few months, consumer sentiment has plunged amid fears of a trade war and President Trump's tumultuous changes on tariff policies. This month, a University of Michigan survey found that consumer sentiment in April dropped 11% from March, marking the fourth straight month of declines. Read more: 'I don't trust America.' Trump's tariffs, detentions take a toll on local tourism 'Economic hope and economic optimism are big drivers of the American economy," said Martin Lewison, associate professor of business management at Farmingdale State College in New York. "When that optimism dries up, it changes consumption behavior.' This could affect future bookings for the Disney parks. Visitors who have already scheduled trips tend not to cancel, but those who were considering a vacation may put it off if they're concerned about their personal financial situations, said Jessica Reif Ehrlich, senior media and entertainment analyst at Bank of America. Disney did not respond to a request for comment. The company's parks could also be vulnerable to decreased international tourism. Trade tensions between the U.S. and other nations have already led to some anti-American backlash. Canadians, for example, have been boycotting American products in stores and canceling their plans to visit the U.S. after Trump has repeatedly called for annexing Canada as the 51st state. Overall international travel to the U.S. is expected to decrease by 5% this year, with a 15% decline from Canada, according to Tourism Economics, a Philadelphia-based travel data company. Although Disney does not release visitor tallies, international tourists are a vital source of business for Walt Disney World in Orlando, Fla., and Disneyland Resort in Anaheim, even if they have not returned in the same numbers as before the pandemic. "International visitors are really important," Reif Ehrlich said."They tend to spend more and stay longer so they're really profitable." In 2023, about 8% of Orlando's visitors were from other countries, according to data from the Visit Orlando trade association. International visitors (not including Canada) stayed about eight nights and spent a little more than $1,110 per person on their trip, the association said. Anaheim attracted a total of 25.8 million visitors in 2023, according to the Visit Anaheim marketing association. Those visitors spent $6.5 billion, an increase of 7.5% compared with 2022, the group said. Disney was already feeling the heat from rival Universal's new Epic Universe theme park, which is opening next month in Orlando. Disney executives have fielded questions during nearly every earnings call about plans to compete against the new theme park and repeatedly said bookings were positive. The theme parks are key to the Burbank-based media and entertainment company's overall finances. Disney's experiences division — which includes its theme parks in the U.S. and around the world, as well as its cruise line, merchandise and luxury travel experiences such as the Aulani resort and spa in Hawaii — has long been the economic engine that powers the company. Last year, the division brought in almost 60% of the company's operating income. Disney plans to invest $60 billion over 10 years into the division to lure new visitors and give frequent guests a reason to come back. That includes major expansions to Disneyland Resort and Walt Disney World. Shares of Disney closed at $82.77 on Wednesday, down 2.6%. Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times. Sign in to access your portfolio
Los Angeles Times
17-04-2025
- Business
- Los Angeles Times
Disney's parks are its economic engine. Tariffs could put a damper on it
As trade tensions and tariff-fueled fears of a recession roil the economy, stock analysts warn that Walt Disney Co.'s theme parks could take a hit. Typically, amusement park attendance in the U.S. is tied to the health of the American economy. When people feel better about their financial situation, they're more likely to spend on discretionary purchases, such as a Disney vacation, said Laurent Yoon, senior analyst at Bernstein. 'When the economy is not doing well, the parks' performance tends to follow that trend,' said Yoon, who wrote a note to clients late last week about the pressures on the company, including the parks' exposure to economic shifts. Over the last few months, consumer sentiment has plunged amid fears of a trade war and President Trump's tumultuous changes on tariff policies. This month, a University of Michigan survey found that consumer sentiment in April dropped 11% from March, marking the fourth straight month of declines. 'Economic hope and economic optimism are big drivers of the American economy,' said Martin Lewison, associate professor of business management at Farmingdale State College in New York. 'When that optimism dries up, it changes consumption behavior.' This could affect future bookings for the Disney parks. Visitors who have already scheduled trips tend not to cancel, but those who were considering a vacation may put it off if they're concerned about their personal financial situations, said Jessica Reif Ehrlich, senior media and entertainment analyst at Bank of America. Disney did not respond to a request for comment. The company's parks could also be vulnerable to decreased international tourism. Trade tensions between the U.S. and other nations have already led to some anti-American backlash. Canadians, for example, have been boycotting American products in stores and canceling their plans to visit the U.S. after Trump has repeatedly called for annexing Canada as the 51st state. Overall international travel to the U.S. is expected to decrease by 5% this year, with a 15% decline from Canada, according to Tourism Economics, a Philadelphia-based travel data company. Although Disney does not release visitor tallies, international tourists are a vital source of business for Walt Disney World in Orlando, Fla., and Disneyland Resort in Anaheim, even if they have not returned in the same numbers as before the pandemic. 'International visitors are really important,' Reif Ehrlich said.'They tend to spend more and stay longer so they're really profitable.' In 2023, about 8% of Orlando's visitors were from other countries, according to data from the Visit Orlando trade association. International visitors (not including Canada) stayed about eight nights and spent a little more than $1,110 per person on their trip, the association said. Anaheim attracted a total of 25.8 million visitors in 2023, according to the Visit Anaheim marketing association. Those visitors spent $6.5 billion, an increase of 7.5% compared with 2022, the group said. Disney was already feeling the heat from rival Universal's new Epic Universe theme park, which is opening next month in Orlando. Disney executives have fielded questions during nearly every earnings call about plans to compete against the new theme park and repeatedly said bookings were positive. The theme parks are key to the Burbank-based media and entertainment company's overall finances. Disney's experiences division — which includes its theme parks in the U.S. and around the world, as well as its cruise line, merchandise and luxury travel experiences such as the Aulani resort and spa in Hawaii — has long been the economic engine that powers the company. Last year, the division brought in almost 60% of the company's operating income. Disney plans to invest $60 billion over 10 years into the division to lure new visitors and give frequent guests a reason to come back. That includes major expansions to Disneyland Resort and Walt Disney World. Shares of Disney closed at $82.77 on Wednesday, down 2.6%.
Los Angeles Times
15-04-2025
- Business
- Los Angeles Times
As Hollywood faces tariff trouble, don't downplay the China problem
If you've been reading this newsletter, you know that Hollywood is already in a tough spot. President Trump's tariffs, the resulting stock market volatility and a possibly looming recession won't make life any easier for the entertainment industry. In the days after Trump's so-called Liberation Day speech, the markets have given investors whiplash, with each new update sending stocks gyrating for another unpredictable cycle. The administration's subsequent backtracking hasn't quelled the turmoil. Last week, Trump put a 90-day pause on the latest levies, but the 10% across-the-board tariffs remain in place and with import taxes now at 145% for Chinese goods. Now Trump says smartphones, computers and other electronics are excluded from the tariffs on China. Confused? You're not alone, and as the cliche goes, markets hate uncertainty. Stocks are generally down, including those of the major media and entertainment firms, which are all vulnerable to a potential economic downturn, even if they aren't all as exposed to trade disputes on their own. Concerns about pocketbook issues could make people think twice about taking vacations and going out. They might even encourage people to further cull their streaming services. Walt Disney Co. shares are down 14% from a month ago. Warner Bros. Discovery, which is loaded up with debt and thus sensitive to shakiness in the capital markets, is off by 21%. Comcast, Paramount, Lionsgate and AMC Networks have all fallen. Though Hollywood isn't as dependent on global trade as, say, the microchip industry, there are several ways the current situation could play out. Advertising spending tends to pull back in a wobbly economy, and this is all happening just weeks before the networks' and streaming services put on their big upfront presentations to ad buyers. So the timing is not great, and streaming services are increasingly reliant on cheaper ad-based tiers for revenue and subscriber growth. Theme parks could come under increased pressure. Park attendance, including at Disneyland and Walt Disney World, is typically a good barometer for consumers' confidence in the economy, which already appears to be falling. Meanwhile, Comcast is preparing to open its long-awaited Epic Universe theme park in Orlando, Fla., in a big bet on its own intellectual property at a time when consumers are feeling pessimistic about the economy. Although Disney executives have expressed optimism about summer booking for the parks this year, the trade war and the administration's generally nationalistic worldview has increased anti-U.S. sentiment abroad. That is already putting a damper on America's tourism industry, according to a report from Bernstein analyst Laurent Yoon and as my colleagues Suhauna Hussain and Andrea Chang reported. For California's already struggling film and TV production landscape, the tariffs will result in cost increases, for example, by raising the price of Canadian lumber used to build sets. And don't forget the possible loss of the Chinese box office, which has already become a problem for Hollywood and may soon get worse. The China Film Administration on Thursday said it would cut back on the number of U.S. films allowed into the world's second-largest film market. China used to be a gold mine for U.S. studios, which could count on certain blockbuster films making huge amounts of money from the nation's booming middle class. But that changed in recent years as China's own film industry became increasingly adept at creating films with impressive production values and often patriotic themes. The Chinese government, of course, put its thumb on the scale in favor of homegrown productions. Hollywood's box office from China last year was down at least 75% from its 2017 peak, according to TD Cowen analyst Doug Creutz. Hollywood now accounts for a small percentage of overall annual ticket sales in China. Even so, it would be a mistake to downplay the issue. With the costs of U.S. movies increasing, every little bit of lost revenue matters. Effects-driven spectacles such as 'Jurassic World Rebirth' and 'Avatar: Fire and Ash' can still do big business in the Middle Kingdom if they're allowed in. What would the 'Fast & Furious' series be without Chinese audiences? Don't forget Hollywood already lost Russia as a film market, after Vladimir Putin's invasion of Ukraine. One less major territory these days can make the difference between breaking even and not, according to film industry insiders. Most high-level dealmaking is also probably on hold for now. With Trump, everything is a negotiating tactic, and policies announced one day might be completely different the next. In that murky kind of environment, it will be difficult for executives to make long-term multibillion-dollar commitments. That, for the time being, is the big-picture issue. Whether you think Trump is recklessly dismantling an eight-decade global trade system for wrongheaded ideological reasons, or you believe he's causing short-term pain to rewire the economic order in America's favor, few would deny these moves are destabilizing. President Trump tees off on '60 Minutes' again, threatens CBS broadcast licenses. Trump takes to his Truth Social platform to criticize '60 Minutes' coverage, which remains relentless despite his legal action against the program. Theaters want you to wait longer to stream movies. Why that probably won't happen. Top theater lobbyist Michael O'Leary called for a minimum theatrical window for 45 days. But many say it's too late to turn back time. Judge sides with Sony in 'Wheel of Fortune' and 'Jeopardy!' fight with CBS. Sony claimed CBS licensed the shows to TV stations at below-market rates and failed to maximize advertising revenues. Newsmax made defamatory statements about Dominion Voting Systems, judge rules. Dominion is seeking $1.6 billion in damages, which will be decided by a jury in a trial that will begin April 28 unless a settlement is reached. Coalition urges California attorney general to halt OpenAI's for-profit transition. A petition signed by nonprofits, foundations and labor groups was sent to the state attorney general on Wednesday, urging him to halt OpenAI's plans to restructure the nonprofit's commercial arm into a for-profit business. Hollywood's pullback hasn't reached the Warner Bros. Discovery executive suite. Even after a rocky year, Chief Executive David Zaslav's pay package rose 4% to $52 million for 2024, maintaining his standing as one of the most handsomely paid executives in America, ahead of his Hollywood counterparts, Meg James wrote. Bob Iger, who runs the much larger Disney, was paid $41 million last year. Angel Studios' animated movie 'The King of Kings' opened with $19 million domestically, making it the latest faith-based success from the independent distributor. It debuted in second place, behind 'A Minecraft Movie,' which has now grossed $281 million in the U.S. and Canada, giving theaters a much-needed boost. Domestic sales are now essentially flat with last year, but still down significantly from prepandemic levels. Production of television shows, feature films and commercials all declined in the Los Angeles area during the first three months of the year, Samantha Masunaga reports. On-location production declined 22.4% compared with the same period a year earlier, according to a report released Monday by the nonprofit organization FilmLA, which tracks shoot days in the Greater Los Angeles region. This should come as no surprise to anyone following our weekly charts. The latest are below: Listen: Post-hardcore band Turnstile has new music.
