Netflix Drops After Disney Ditches Platform To Launch Streaming Service

Shares of Netflix (NFLX) were clown-raped at the open to the tune of 4% in after-hours trading Tuesday, only to recover throughout the morning after the Walt Disney Company (DIS) announced they would be pulling all content from the platform in order to launch their own streaming service in 2019.

Of note, NFLX is nearly oversold in Exodus, and has outstanding 10-day returns with an average 13.94% return 9 out of the last 10 times the OS indicator has triggered.

Disney announced they were ditching Netflix during Tuesday’s earnings call, along with a disastrous 9 percent drop in quarterly profits to $2.37bn and stagnant revenues of $14.2bn compared with the same period in 2016 – sending the stock down nearly 4 percent in after hours trade on Tuesday.

Disney’s new plans include taking majority ownership in video streaming company BAMTech for $1.58bn, increasing it’s stake from 33 percent to 75 percent, as well as an increased investment in original content for both movies and TV shows.

No pricing was announced, however Disney plans to expand the strategy globally after the U.S. launch.

Offensive Move

Disney CEO Robert Iger said the streaming services “mark the beginning of what will be an entirely new growth strategy for the company,” adding “it’s not just a defensive move, it’s an offensive move.”

With the digital push, Disney is trying to insert itself into territory currently claimed by Amazon and Netflix, which have won audiences with a combination of original programmes available on-demand and a business model focused on monthly subscriptions instead of advertising.

Mr Iger said making Disney and ESPN content available on standalone sites and apps is a better bet in the long run than continuing to rely on cable television, movie theatres and licensing agreements to distribute its work.

Disney said its distribution deal with Netflix for new Disney and Pixar movies would end in 2019, with discussions ongoing about the fate of Star Wars and Marvel franchises. –BBC Business

Stocks are getting slapped upside the head in a second negative trading session, after tensions escalated in a fiery exchange between between the United States and North Korea.

Small caps are getting murk’d with the Russell 2000 down nearly 1% as of this writing.

And the VIX is is spiking:

Gold and silver, meanwhile, are loving the prospect of WWIII:

North Korean state-run KCNA news agency reported that North Korea was “carefully examining an operational plan” for targeting Guam with “enveloping fire” using a medium-to-long range ICBM, after Trump warned earlier in the day that any provocation would be “met with fire, fury, and frankly, power, the likes of which this world has never seen before” after a Washington Post report that claimed Pyongyang was capable of building a nuclear weapon able to fit inside a long range missile.

Meanwhile, U.S. Secretary of State Rex Tillerson dialed back President Trump’s comments, saying there was no sign that the threat level from N. Korea had changed, and Americans should “sleep well at night.”

Looks like markets aren’t buying it…

A Tuesday report by Linklaters LLP concluded that Chinese companies plan to spend US$1.5 trillion snapping up foreign companies and investing in manufacturing over the next decade – a 70 percent increase over the last 10 years, The planned expenditures, however, depend on whether or not the deals receive a nod from various government agencies.

Via the Financial Post:

Government policies encouraging Chinese companies to invest in manufacturing capabilities, particularly for advanced technology, and international trade will help maintain deal flow, the law firm, which specializes in advising on mergers and acquisitions, said in the report. Chinese buyers have spent about US$880 billion on assets in other countries in the last 10 years, according to the data.

The success of China’s bidders will depend on their ability to overcome foreign countries’ concerns about national security and interest, which contributed to the failure of as much as US$75 billion in announced outbound deals last year, Linklaters said in the report. China may also have to bow to international pressure to liberalize its markets, it said.

“While the pace of outbound deals has declined in 2017, China’s long-term aspirations” mean that overseas “investment and acquisitions from China will continue to be a significant force over the long term,” Linklaters said.

Not so fast…

Chinese businesses have been blocked from acquiring companies in industries critical to a country’s economy or national security, such as tech and infrastructure firms. German semiconductor manufacturer Axitron SE saw its planned sale to a Chinese company collapse last December following a protest from the Obama administration’s Committee on Foreign Investment. The same committee also terminated a Chinese deal to buy Royal Philips’ NV’s lighting unit, Lumileds.

Bank blocked?

Chinese aviation and shipping giant HNA Group Co. is one of the acquisitive companies under enhanced government scrutiny, while several major Chinese banks which helped fund their growth have stopped issuing new loans to the company, according to sources familiar with the matter.

That said, the Linklaters report closes by saying “Despite potentially increased scrutiny by Chinese regulators and banks of some of the deals underlying these flows, we expect China to remain ‘open for business’ with respect to genuine strategic overseas acquisitions. If such investments are blocked in some jurisdictions, this may redirect Chinese players’ interest towards other jurisdictions.”

Indices dipped across Asia following a late-Tuesday selloff in U.S. markets over escalating tensions between the United States and North Korea. The risk-off trading saw rises in the yen and gold, while U.S. Treasuries edged higher.

Japan’s Topix saw it’s biggest slide since May 18, followed by South Korea’s benchmark index losing over 1 percent in Wednesday trade. European indices also sagged, with nearly every sector of the Stoxx Europe 600 index declining following harsh threats traded between N. Korean president Kim Jong Un and U.S. President Trump.

North Korean state-run KCNA news agency reported that North Korea was “carefully examining an operational plan” for targeting Guam with “enveloping fire” using a medium-to-long range ICBM, after Trump warned earlier in the day that any provocation would be “met with fire, fury, and frankly, power, the likes of which this world has never seen before” after a Washington Post report that claimed Pyongyang was capable of building a nuclear weapon able to fit inside a long range missile.

Volatility Spike

Yesterday’s spat between Trump and Kim Jong Un caused volatility indicators across the world to spike, as the renewed tensions between the USA and North Korea coincide with markets hitting all time highs, while uncertainty looms over the availability financial safety nets from the Fed and ECB.

“The market is realizing that economies are doing well enough for both the Fed and the ECB to remove stimulus,” Ken Peng, a Hong Kong-based investment strategist at Citi Private Bank, said. “This is going to make a lot of people a bit more nervous about liquidity. In that environment, these geopolitical headlines will have more impact, more punch. The talk is more intense than what it used to be.” –Bloomberg

Escalating tensions between the U.S. and North Korea couldn’t come at a worse time for top-heavy markets. Let’s hope cooler heads prevail.

Hours after President Trump’s harsh warning to North Korea that any more provocations would be met with more ‘fire, fury and power [than] the world has ever seen,’ Kim Jong Un responded – warning that they are ‘seriously considering a strategy to strike Guam with mid-to-long range missiles.”

A spokesman for the Korean People’s Army, in a statement carried by the North’s state-run KCNA news agency, said the strike plan will be “put into practice in a multi-current and consecutive way any moment” once leader Kim Jong Un makes a decision.

In another statement citing a different military spokesman, North Korea also said it could carry out a pre-emptive operation if the United States showed signs of provocation.

Earlier Pyongyang said it was ready to give Washington a “severe lesson” with its strategic nuclear force in response to any U.S. military action.

Washington has warned it is ready to use force if need be to stop North Korea’s ballistic missile and nuclear programs but that it prefers global diplomatic action, including sanctions. -Bloomberg

In response, U.S. Congresswoman and delegate to Guam Madeline Z. Bordallo, 84, issued a statement saying “Recent reports regarding North Korea’s nuclear capabilities are deeply troubling, but I remain confident that Guam remains safe and protected.

President Trump must work in partnership with the international community to de-escalate the growing tensions in the region and prevent North Korea from advancing its nuclear program further.”

#NorthKorea military considers firing Hwasong-12 missiles near US military bases on #Guam https://t.co/gBKiX0rSNb pic.twitter.com/l9KPVCvSQi

— Sangwon Yoon (@sangwonyoon) August 8, 2017

After #DPRK threat to attack #Guam, the delegate in Congress from the US territory issues a statement. pic.twitter.com/sd7uLRZgT4

— Steve Herman (@W7VOA) August 8, 2017

North Korea says it is "carefully examining" a plan to strike the U.S. Pacific territory of #Guam with missiles. https://t.co/rZ1EOKl4ji pic.twitter.com/UY0hKawxnF

— Jeffrey Guterman (@JeffreyGuterman) August 8, 2017

Meanwhile, US B-1B Lancers have arrived in Guam to reinforce the U.S. presence in the region.

New rotation of B-1B Lancers arrives in #Guam from @28thBombWing to support Pacific continuous #bomber presence https://t.co/IbZcPSGiXL pic.twitter.com/60UPZkWWNa

— U.S. Pacific Command (@PacificCommand) August 8, 2017

This is some bond villain shit.

In a fiery Tuesday interview with MSNBC hosts Ali Velshi and Stephanie Ruhle, Deputy White House advisor Dr. Sebastian Gorka labeled radical Islam “evil” which “has to be destroyed.”

“It’s not about economics, it’s not about being disenfranchised. It’s about people who have an ideology that is evil and has to be destroyed.” –Sebastian Gorka

The MSNBC hosts were taken aback by Gorka’s comments, who insisted that most terrorist attacks on U.S. soil and Europe are carried out by “lone wolf lunatics,” to which Gorka hit back “There is no such thing as a lone wolf, you do know that… That was a phrase invented by the last admin to make Americans stupid. There has never been a serious attack or a serious plot that was unconnected to ISIS or Al Qaeda.”

Gorka went on to say “We will call it Radical Islamic terrorism, we will target the ideology, we will call them out for being evil, and we will work with our Muslim partners. This is the crucial part; we are not here to invade other people’s countries and occupy them. The President think that’s fundamentally un-American. We are here to help those nations that share our values and share our interests.”

See below: 

According to deep state’s department of brand management & optics Atlantic division, the ever-pious Hillary Clinton wants to become a pastor – a move which is sure to bring religious rust-belt swing voters back to the blue side for any future political endeavors…

“Hillary Clinton wants to preach. That’s what she told Bill Shillady, her longtime pastor, at a recent photo shoot for his new book about the daily devotionals he sent her during the 2016 campaign. Scattered bits of reporting suggest that ministry has always been a secret dream of the two-time presidential candidate: Last fall, the former Newsweek editor Kenneth Woodward revealed that Clinton told him in 1994 that she thought “all the time” about becoming an ordained Methodist minister. She asked him not to write about it, though: “It will make me seem much too pious.” The incident perfectly captures Clinton’s long campaign to modulate—and sometimes obscure—expressions of her faith.” –The Atlantic

Because what better way to make people forget about a massive pay-for-play scheme, raping Haiti, and a bitchy image than God?

Seances

While Hillary has apparently been in the closet for decades over her desire to preach, she turned heads in the 90’s when investigative journalist Bob Woodward wrote in his book ‘The Choice,” that Clinton “held imaginary conversations with Eleanor Roosevelt and Mahatma Ghandi as therapeutic release.” When an advisor suggested that she communicate with Jesus Christ, she declined, saying it would be “too personal.”

Satanic Idols

In 1993, the president of Wellesley College approved a new rule that all senior theses written by a president or first lady of the United States would be kept under lock and key, a move aimed at preventing the public from learning about their new First Lady. After the Clintons left the White House, however, Hillary’s senior thesis was released to the public – a 92 page homage to radical leftist Saul Alinsky, who dedicated his book to Lucifer.

Hillary describes Alinsky as a “neo-Hobbesian who objects to the conventional mystique surrounding political processes; for him, conflict is the route to power.”

Kind of like Satan, or Jihad.

That’s the spirit! 

I’m sure you remember #Spiritcooking satanist Marina Abramovic from 2016 election Wikileaks – who Tony Podesta gave money to, who was invited to Hillary Clinton’s Campaign launch, whose art Hillary Clinton placed in US embassies around the world, who Hillary wanted to invite to a lunch event, who donated the maximum $2700 to Hillary’s campaign, and who said in a Reddit AMA (“Ask Me Anything”) that her spirit cooking dinners in private homes are not art.

I think it’s safe to say that Hillary Clinton is a fan of Marina Abramovic, whose ‘art’ probably wouldn’t go over so well with the Methodist congregation Hillary apparently wants to preach to.

While Hillary’s base is sure to lap up her new ‘revelation’ about her faith, the rest of us aren’t buying it…

What will they cook up next?

The Google engineer who authored a now infamous 10-page ‘anti-diversity’ memo which went viral internally before leaking over the weekend has been fired for his beliefs.

In the memo, titled ‘Google’s Ideological Echo Chamber,’ author James Damore argues that certain topics of conversation at Google are ‘shamed’ into silence, stifling meaningful discussion. “This silencing has created an ideological echo chamber where some ideas are too sacred to be honestly discussed,” wrote Damore, who when on to say that political correctness breeds “the most extreme and authoritarian elements of this ideology.”

Damore also said the gender gap and lack of women in technology jobs is due in part to biological differences.

In response, Google CEO Sundar Pichai released an internal memo titled “our words matter,” which states that the senior engineer violated the company’s code of conduct, and that while Damore’s anti-diversity memo was open for debate, “portions of the memo violate our Code of Conduct and cross the line by advancing harmful gender stereotypes in the workplace.”

Pichai’s memo goes on; “Our job is to build great products for users that make a difference in their lives. To suggest a group of our colleagues have traits that make them less biologically suited to that work is offensive and not OK. It is contrary to our basic values and our Code of Conduct, which expects ‘each Googler to do their utmost to create a workplace culture that is free of harassment, intimidation, bias and unlawful discrimination.”

Backlash to Google’s decision has spread like wildfire as the hashtag #GoogleManifesto trends

#GoogleManifesto author James Damore has been fired.

This is a disgrace. https://t.co/V0Yc6srK7E

— Jeff Giesea (@jeffgiesea) August 8, 2017

It's not Trump, but Google, who's ushering in 1984. #GoogleManifesto

— David Sutcliffe (@SutcliffeDavid) August 8, 2017

Google's VP of Diversity campaigned for Hillary. Can't make this stuff up. https://t.co/GbiyeyApHD

— Jack Posobiec ?? (@JackPosobiec) August 8, 2017

This.#GoogleManifesto #googlememo pic.twitter.com/SFWXYIBhsF

— Pelle Billing (@pellebilling) August 7, 2017

Google's Diversity VP follows a President Hillary fanfiction account. No surprise James Damore was fired #GoogleManifesto pic.twitter.com/pn8MUb6Irs

— Jack Posobiec ?? (@JackPosobiec) August 8, 2017

A Google manager brags about how he keeps an internal blacklist based on his spying on employee emails. #GoogleManifesto pic.twitter.com/VqllkE6Jhc

— Supreme Dark Lord (@voxday) August 7, 2017

No results found. pic.twitter.com/ahoBwz7m2b

— Stefan Molyneux (@StefanMolyneux) August 8, 2017

Here's a picture of Google's censorship team. It explains so much.#GoogleManifesto pic.twitter.com/6fKgd42YIn

— /pol/ News Forever (@polNewsForever) August 8, 2017

Google hired Hillary campaign worker as their Diversity VP. Danielle Brown. What a joke pic.twitter.com/4PTIovTj6Y

— Jack Posobiec ?? (@JackPosobiec) August 8, 2017

Google Engineer: "Woman & men may be different"

Google CEO: Fires man for "perpetuating gender stereotypes"

Ads are targeted by gender??? pic.twitter.com/FKGhf7Bp0s

— Ed (@DowdEdward) August 8, 2017

Hi @sundarpichai,

You're a big dopey moron for firing James Damore. We're going to hire him. Get bent.#GoogleManifesto pic.twitter.com/WIaW4BZB4O

— Gab (@getongab) August 8, 2017

Is the New York Times about to get the CNN treatment from James O’Keefe of Project Veritas?

It all started with an innocent Monday afternoon poke at the ‘failing’ New York Times, owned by Mexican billionaire Carlos Slim (and which undoubtedly influenced the 2016 U.S. election with it’s overt anti-Trump bias).

How much longer will the failing nytimes, with its big losses and massive unfunded liability (and non-existent sources), remain in business?

— Donald J. Trump (@realDonaldTrump) August 7, 2017

Hours later, O’Keefe replied with a huge teaser…

Stay tuned… https://t.co/uBTqwMeSDC

— James O'Keefe (@JamesOKeefeIII) August 8, 2017

OH BOY! 

The last time O’Keefe set his sights on the MSM, CNN suffered a a multi-combo takedown from which they’ll never recover, after Project Veritas journalists infiltrated the Fake News Network with hidden cameras.

Not only was host Van Jones caught on film calling the Russia narrative a “big nothing burger,” Project Veritas also scored footage of a CNN producer who said the ‘Russia’ story is fake news pushed for ratings, and a hate-filled associate producer’s vitriol for conservatives – stating “American voters are stupid as shit,” and admitting to a company-wide hatred for President Trump.

Voters “Stupid as sh*t” says New Day associate producer #AmericanPravda #CNNhttps://t.co/NViTBRJmp0 pic.twitter.com/hJzjtcCSNF

— James O'Keefe (@JamesOKeefeIII) June 30, 2017

Finally, after hand-grenading billions in value, AT&T announced three days ago that they are considering jettisoning the Fake News Network (along with TMZ) as part of their purchase of CNN parent company Time Warner, announced in late 2016.

Vindication

Dr. Sebastian Gorka, Deuty assistant to President Trump, hailed the O’Keeffe sting as ‘complete vindication for the president,’ in a June interview with Breitbart.

“I think this is the day when the Left rues ever coming up with the phrase ‘Fake News’ because now we have the evidence. We have the consequences of systematic generation of Fake News, happening at the epicenter of one of the places that was producing the most of it,” he said.

“It’s just a testament to the determination of the president,” Gorka continued. “He sticks with what he knows to be true. He hangs in there doggedly and finally. Thanks to intrepid people like James O’Keefe, we have the evidence, and people are getting fired.”

So what’s O’Keefe got on the New York Times? Inquiring minds want to know if perhaps one of O’Keefe’s operatives was even at that charity event former FBI Director James Comey attended during his visit to the grey lady in late June.

Looks like AG Sessions is taking a break from busting potheads and not indicting Loretta Lynch for lying under oath about her email accounts.

In response to a much anticipated lawsuit filed by the city of Chicago this morning to prevent the Trump administration from withholding federal funds from sanctuary cities, Jeff Sessions hit back in a scathing letter directed at mayor Rahm Emanuel.

The lawsuit asserts that the new federal policies to withhold money from sanctuary cities forces the nation’s third largest city to choose between its constitutional rights and federal funding, claiming “These new conditions also fly in the face of longstanding City policy that promotes cooperation between local law enforcement and immigrant communities.”

The policies also include a requirement that local law enforcement agencies give federal authorities 48 hours notice before releasing anyone wanted for immigration violations.

Democratic Mayor Rahm Emanuel said on Sunday that the city would sue, escalating a pushback against an immigration crackdown launched by Republican President Donald Trump’s administration. –Bloomberg

Sessions hits back

Jeff Sessions did not mince words. In a response issued hours later, the Attorney General said that ‘no amount of federal taxpayer dollars will help a city that refuses to help its own residents‘ (boom) – an admonishment over Chicago’s out of control crime rate.

Letter below:

“No amount of federal taxpayer dollars will help a city that refuses to help its own residents.

“The Mayor complains that the federal government’s focus on enforcing the law would require a ‘reordering of law enforcement practice in Chicago.’ But that’s just what Chicago needs: a recommitment to the rule of law and to policies that rollback the culture of lawlessness that has beset the city.

“This administration will not simply give away grant dollars to city governments that proudly violate the rule of law and protect criminal aliens at the expense of public safety. So it’s this simple: Comply with the law or forego taxpayer dollars.”