On The Rock
Top Themes of the Week
Happy Sunday!
As corporate earnings take center stage in the upcoming week, investors will closely watch key players like Tesla, Netflix, and major banks for insights into the state of the market. This week will also shed light on how the financial sector is responding to rising interest rates, with Bank of America and Goldman Sachs reporting.
The market remains cautious due to rising geopolitical risks.
Overall, the earnings season presents an opportunity for companies to steer the market out of its recent slump. Stronger-than-expected results could boost stocks, although rising interest rates remain a limiting factor.
Top Tech
Google's AI-powered search feature, SGE (Search Generative Experience), is enhancing its capabilities. SGE will now generate images based on prompts, similar to Bing's support of OpenAI's DALLE-E 3. Users can also draft content within SGE, customizing length and tone.
Google also plans to stop making the claim that YouTube TV is "$600 cheaper than cable" after an advertising review board complaint.
Netflix
The Star Trek franchise is returning to Netflix with the acquisition of the animated kids series "Star Trek: Prodigy." Netflix's animation unit is undergoing a restructure, leading to job cuts and the cancellation of two pre-production films.
For Netflix, investors will be keen this week to learn more about potential price changes, measures to curb password sharing, and the success of its advertising tier. The streaming giant's performance and growth strategy will be closely watched.
Media
Ebony magazine's parent company, Ebony Media Group, is collaborating with Lionsgate to launch a new free, ad-supported streaming television (FAST) channel called "Ebony TV by Lionsgate."
This channel is scheduled to premiere on Samsung TV Plus on October 11 and will also become accessible on Roku, Tubi, and Amazon Freevee by the end of the month. Ebony TV by Lionsgate will showcase content from the Lionsgate library that celebrates Black culture.
Sports
ESPN plans to expand its ESPN+ streaming service by adding the National Football League, National Basketball Association, and local Major League Baseball games. They aim to launch a combined ESPN+ and ESPN network DTC service in 2025.
UFC is hosting a Fight Night in Riyadh as part of the Riyadh Season festival, marking its debut in Saudi Arabia. This expansion aligns with UFC and WWE's global presence while enhancing Saudi Arabia's sports profile.
Monumental Sports Network launched a direct-to-consumer subscription service allowing fans to watch Washington, DC's basketball and hockey teams for $19.99 per month or $199.99 per year through their app.