Latest news with #MichaelNathanson
Yahoo
21 hours ago
- Business
- Yahoo
The Trade Desk Crashes 39% in a Day as Amazon Looms Large
The Trade Desk (NASDAQ:TTD) just got slammed with its worst trading day on recordtumbling over 39% at 11.29am todayafter a string of analyst downgrades reignited concerns that Amazon's (NASDAQ:AMZN) ad tech machine is catching up fast. The shift followed disappointing results and guidance, which only sharpened focus on Amazon's growing role in the demand-side platform (DSP) market. MoffettNathanson's Michael Nathanson lowered his rating to sell and set a Street-low $45 price target, saying the Amazon shadow over this stock is now front and center... and harder to deny. The Trade Desk has now lost more than half its value year-to-date. Warning! GuruFocus has detected 2 Warning Sign with TTD. At the heart of this re-rating is Amazon's strengthening DSP, which helps advertisers target users more preciselyparticularly across streaming platforms like Roku, where Amazon recently struck a notable advertising deal. Bank of America cut the stock two notches to underperform, citing growing structural pressure as rivals like Amazon and Alphabet continue to deliver strong ad revenue across their walled gardens. Wedbush and Citi also moved to the sidelines, noting that The Trade Desk's growth visibility has become increasingly difficult to defend, especially as the competitive backdrop shifts. CEO Jeff Green attempted to brush off Amazon during the earnings call, saying platforms like Amazon and Google are best suited to buy their own inventory with their own data, and that their bias makes them less effective across the open internet. But not everyone's buying it. Lightshed Partners' Rich Greenfield said those comments should scare any investor who owns The Trade Desk stock, arguing that Green may be downplaying the competitive reality. With analyst sentiment at its weakest in over two years, investors now face a tougher call: is this a temporary stumble, or the start of a more structural reset in The Trade Desk's positioning? This article first appeared on GuruFocus.
Forbes
4 days ago
- Business
- Forbes
Opening Day Is Set For The Biggest Game In Sports TV
The teams are ready, opening day is set. And no, I'm not talking about the NFL, though that matters a lot. I'm talking about the imminent arrival of two pricey, sports-focused streaming apps from ESPN and Fox that both launch Aug. 21. The bigger, and sports-only, entry will come from Disney's ESPN, which finally replaces an undernourished ESPN+ streaming app with a full-featured direct-to=consumer offering called just ESPN. At $30 a month, it is the most expensive major app in the market, though it also can be acquired as part of a far cheaper bundle with Disney Plus that carries all of Disney's entertainment and news offerings. Just before Disney's earnings call this week, the company announced that the NFL will take a 10-percent stake in ESPN, a groundbreaking deal that can't have been well received by competitors fearing they'll get worse matchups as a result. In return, ESPN will operate the league's NFL Media holdings, including the NFL Network, the fan favorite RedZone Channel and its official fantasy football operation. A separate deal gives ESPN three more games per season and other league intellectual property to air on the cable NFL Network. And ESPN already has rights to college football and basketball games from the SEC and Big 12 conferences, and the College Football Championship. In a research note published Thursday, MoffettNathanson analysts led by Robert Fishman and Michael Nathanson called the NFL deal 'a major win for ESPN on multiple fronts,' setting a valuation floor for a possible eventual spinoff of ESPN, improving negotiating positions for carriage on various platforms, and removing risk from its shift away from cable to streaming in sports delivery. MoffettNathanson's report said the fantasy deal could be particularly important for ESPN, 'bringing with it a sticky, high-engagement user base that could help deepen retention of ESPN's DTC offerings (or even ESPN Bet).' Disney is separately acquiring Fubo, the virtual network bundle provider that last year successfully sued to block Venu, the sports cable offering that would have featured Disney, Fox and Warner Bros. assets. Fubo's sports-focused bundles will, after regulatory approvals, be sold alongside those of Disney-owned Hulu Plus Live TV, providing yet another way to connect and keep some of the most ardent audiences in television on whatever delivery device. "As Disney continues navigating this pivot, the NFL transaction further strengthens ESPN's brand around football – the most important IP in U.S. media," MoffettNathanson's report notes. Disney also announced a deal with WWE to bring some of the pro wrestling circuit's sticky regular programming to ESPN. Such programming has been a major hit for Netflix since debuting WWE Raw in January, and Disney is clearly hoping for something of the same regular tune-in power for its sports app. Fox One will be more than just sports, but Fox CEO Lachlan Murdoch said in an earnings call earlier this week that the $19.99-a-month app will lean on the company's winning combination of existing sports and news coverage that has kept it in the black since Rupert Murdoch sold off most of the company's entertainment assets to Disney in 2019. Fox One won't offer any original or exclusive content, relying instead of existing programming from Fox's broadcast network, Fox News Channel and Fox Business Channel. That includes weekly NFL games, Big 10 college football, baseball, European and US soccer, NASCAR and more. Fox and Disney aren't the only two players here, though the lineups are rapidly evolving as traditional big media companies restructure themselves for the next era of streaming TV and entertainment distribution. Among the tech giants with video operations, Amazon has Thursday Night Football from the NFL and will add NBA games this fall under a new deal. Apple TV has an unusual 360-degree deal with Major League Soccer, and also carries Friday night MLB games. It reportedly is in line for an expensive new deal for Formula One racing, on the back of its recent theatrical hit starring Brad Pitt, F1: The Movie. Netflix has carefully edged into live sports, seeing it as another vector into regular fan tune-in with specific sports events it can own, such as boxing and MMA matches. It just re-upped its rights to two Christmas Day NFL games after last year's success, and may be the new home for UFC, which is owned by the same company that controls WWE, TKO Holdings. The sports space beyond those players is even more fractured, as several media companies hope their live-sports portfolios are strong enough to aid tune-in for everything else they do. Paramount, owner of CBS and the Paramount Plus and Pluto streaming services, for instance, will still have its traditional share of NFL games each weekend and a piece of college football and basketball games from the Big T0 and a revived Pac-12, plus March Madness for men's and women's college basketball in the spring. But Paramount may be distracted by its merger, which closed Thursday, with David Ellison's Skydance Entertainment, backed by the many billions of dollars of his father, Oracle founder Larry Ellison, and RedBird Capital's Jerry Cardinale. David Ellison, speaking on CNBC Friday morning, said the NFL is now a minority partner in Paramount through its existing deal with Skydance Sports. The league has an opt-out provision in its CBS deal in any change of control, but Ellison said, 'It's not something we're worried about. We're both committed to being partners." That said, negotiations continue with the league, whose most recent rights deal with all its partners also includes a 'look-in' provision giving the league and the media companies a chance to opt out in 2029. The league is more likely to prune under-performing partners than the other way around, should it exercise that clause, given the continuing appeal of NFL games to what's left of audiences for traditional broadcast and cable. 'We believe we'll be in business with the NFL for the foreseeable future,' Ellison said. More generally, Ellison said that, while cutting a promised $2 billion in 'synergies' out of the combined Paramount-Skydance, 'You can't cut to grow. We've all seen that's a business model that doesn't work. We're really going to invest in growth areas like studios and streaming and sports.' Comcast's NBC and Peacock have been beefing up their sports offerings beyond their top-0rated Sunday Night Football weekly broadcast, acquiring rights to primetime Big 10 football games this season, including as many as 16 on NBC and Peacock both, and another eight Peacock-only league games. And the company splashed out hundreds of millions of dollars this time last year to grab rights for some NBA games, including some that will air only on Peacock each week. Comcast has long held rights to the Winter and Summer Olympics in the United States, and demonstrated the potential power of an integrated approach at last year's Paris games that spotlighted the most popular sports and matchups on broadcast and cable outlets while allowing hard-core fans to dive deep online into all video of any specific sport in the competition. Comcast is expected to reprise that approach in February's Winter games in Milan and Cortina d'Ampezzo, Italy, though it's unclear how it will work after the spinoff of most NBCUniversal cable networks into a separate company called Versant that is now underway. Warner Bros. Discovery is also about to split itself into two companies, three years after a big merger brought together WarnerMedia and Discovery Networks. What's left in sports after the split will have a considerably smaller footprint, especially given the loss of NBA games each week. What will be called Discovery Global will have the former TNT Sports, now called Bleacher Report, among its cable network holdings. The company still retains rights to some early-round March Madness and College Football Playoff games, among other odds and ends, WBD's much-loved Inside the NBA show will now be produced by Warner Bros. but run on ESPN each week.
Yahoo
25-06-2025
- Business
- Yahoo
Oppenheimer Increases PT on Amazon (AMZN) Stock, Maintains Outperform
Inc. (NASDAQ:AMZN) is one of the 10 AI stocks that Jim Cramer and analysts are watching. On June 20, Oppenheimer raised its price target on AMZN shares to $250 from $215 and kept an Outperform rating. The firm cited higher margins that are now more aligned with Street expectations, supported by an improved trade outlook compared to early May. E-commerce performance remains above overall retail, with quarter-to-date growth of 3.7% year-over-year for non-store retailers, compared to 2.7% for retail excluding motor vehicles, parts, and gas. Oppenheimer noted that it is keeping its revenue forecast largely unchanged but is adjusting margins upward due to reduced trade costs. It is worth noting that on June 18, MoffettNathanson analyst Michael Nathanson noted that the company announced the integration of Disney's real-time ad exchange, DRAX, into its demand-side platform, one day after a similar announcement involving Roku. The firm stated that Amazon is 'chipping away at The Trade Desk's (TTD) moat,' a view it has repeated throughout the year. A customer entering an internet retail store, illustrating the convenience of online shopping. In addition to that, during June 6's Mad Money episode, Cramer commented, 'Amazon, well, how can you not beat, I mean Amazon's everything. It's retail, cloud service… web tech.' Amazon (NASDAQ:AMZN) sells consumer products, subscriptions, and advertising through online and physical stores, while also offering electronic devices and media content. The company's services include computing, storage, database, analytics, and machine learning, which support various AI-related workloads. While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
29-05-2025
- Business
- Business Wire
Focus Partners Wealth Expands with First External Acquisition Since Rebrand
NEW YORK--(BUSINESS WIRE)-- Focus Financial Partners Inc., an interdependent partnership of wealth management, business management, and related financial services firms, today announced that Focus Partners Wealth, LLC will acquire Churchill Management Corporation in a transaction expected to close in the third quarter of 2025, subject to customary closing conditions. Upon completion of this transaction, Churchill will be the first external firm that Focus Partners Wealth has acquired since its rebrand in January 2025. Churchill is expected to add approximately $9.4 billion, measured as of March 31, 2025, to Focus Partners Wealth's existing regulatory assets under management. 'M&A remains an avenue for us to add high-quality firms that are committed to evolving for the benefit of their clients,' said Michael Nathanson, CEO of Focus Financial Partners. 'Firms like Churchill, with its commitment to outstanding client service and industry-leading success, are ideal for the integrated model we are building. From our first conversation, it was clear that we shared a vision, making this a natural fit and a special opportunity for both firms.' Founded in 1963, Los Angeles-based Churchill provides investment management and financial planning services to clients nationwide. The firm's employees include a national team of advisors and business development professionals. This transaction will bring together two businesses with a shared client-first philosophy. The Churchill team will gain access to a more expansive suite of client services, while Focus Partners Wealth will gain a national, growth-oriented team that complements Focus Partners Wealth's presence and service offering. The Churchill business will operate as a division of Focus Partners Wealth for a period of time following completion of the acquisition before transitioning to Focus Partners Wealth in the future. 'As we continue to build Focus Partners, there is nothing that thrills me more than joining forces with a great firm that enhances what we do,' said Adam Birenbaum, CEO of Focus Partners Wealth. 'The Churchill team is highly talented and complementary. They combine a very rare mindset of high growth and progress forward with a high standard of care. I cannot wait to welcome them.' This alignment of values and complementary strengths sets the stage for a smooth integration—one that benefits Focus Partners Wealth, the Churchill team, and, most importantly, the clients they serve. Leadership from both organizations shared their enthusiasm for what this transaction makes possible. 'Throughout our more than 60 years of serving clients, our core principle has been to meet and exceed our clients' financial goals using a comprehensive, multi-strategy approach to investing,' said Randy Conner, President of Churchill. 'We are excited to begin providing an even greater depth of services to our valued clients with the resources of Focus Partners Wealth.' Travis Danysh, Chief Corporate Development Officer of Focus Financial Partners, added, 'We view a successful transaction as one that strengthens our business and furthers our capabilities for clients. The addition of Churchill supports our goals to add talented and client-oriented businesses to Focus Partners Wealth.' Berkshire Global Advisors LP served as the exclusive financial advisor to Churchill. RBC Capital Markets served as the exclusive financial advisors to Focus on the transaction. About Focus Financial Partners Inc. Focus is an interdependent partnership of wealth management, business management, and related financial services firms, rooted in a client-first approach and powered by the collective energy and capabilities of its many advisors and professionals. The Focus partnership includes firms operated under the Focus Partners brand that reflect the company's key business lines. Through a blend of innovative solutions, strong capital backing, and deep business expertise, Focus empowers its firms to achieve their business objectives by helping them better serve their clients and advisors. Discover more about how Focus is evolving the wealth and business management landscape by visiting or by following the company on LinkedIn. About Focus Partners Wealth, LLC Focus Partners Wealth is an organization of wealth, asset, and business management resources that brings strength, innovation, and partnership to client relationships. Through a comprehensive range of services, Focus Partners Wealth works with clients at every stage, helping them manage their financial future. Their team of advisors works collectively to deliver personalized wealth planning strategies across local communities, placing clients' values, goals, motivations, and priorities at the heart of what they do. With nearly 100 locations across the country, Focus Partners Wealth serves clients in all 50 states. For more information visit About Churchill Management Group Founded in 1963, Churchill Management serves over 7,000 clients with combined regulatory assets under management of over $9.4 billion as of March 31, 2025. The firm credits its success to a combination of its commitment to communication, dedicated service teams, and a blend of tactical and fully invested strategies tailored around comprehensive financial planning. © 2025 Focus Financial Partners. All rights reserved.
CNBC
22-05-2025
- Business
- CNBC
Consumer need isn't there for OpenAI hardware product, says Michael Nathanson
Michael Nathanson, MoffettNathanson founding partner and senior research analyst, joins 'Power Lunch' to discuss if physical hardware will be a part of AI, who are the winners in big tech, and much more.
