“Are You Still Watching?”
YES! Obviously. Netflix reported earnings after the bell. $NFLX was up 5% after-hours, then it was down 5%, then it kind of fell back to neutral. But does it really matter? They added 9.6 million global subscribers in Q1 from a year ago, and none of us (or the relatives that pay for them) are cancelling subscriptions anytime soon.
BlackRock, Baby
$BLK reported earnings this morning. They reported $6.5 trillion in assets under management. Yes, you read that number correctly. They also reported the strongest first quarter they’ve had in four years. They were up 3% today because that’s showbiz, baby.
“It’s Settled.”
Apple and Qualcomm and have settled their royalty dispute and now $QCOM looks like this. The stock is up 23% on the news. TWENTY. THREE. PERCENT.
Zoom Zoom Zoom, Make My Heart Go Boom Boom
Zoom, the video communications company, is IPOing on Thursday. They’ll be listing on the NASDAQ under the ticker $ZM. They’ve updated their share price from $28-$32 to $33-$35. This will bring their valuation to $9 billion. Blah blah blah, this is all well and good, but did we mention that they’re profitable?
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More Hulu For Disney
AT&T is selling their 9.5% stake in Hulu to Disney for $1.43 billion. This now gives Disney 66% ownership of Hulu, which is worth $15 billion after this transaction. Disney plans on launching exclusive shows in the near future on the service in the coming years. Truthfully, we just wish Hulu had past seasons of Bar Rescue.
That Vape Life
PAX Labs, makers of cannabis vaporizers and the once-owners of Juul (until it was spun off into an independent company), is allegedly raising $400 million, according to The Information. The company expects $113 million in revenue this year but predicts $1.2 billion by 2023. So, not Juul levels of revenue, but high enough.
Crypto Raises
Crypto company ConsenSys is attempting to raise $200 million, according to the Information. The company laid of 13% of workers several months ago and has allegedly struggled to stay afloat after last year’s crypto market crash. They also posted $28 million in revenue last year, or 109,943.80 Ether as of this writing.
Sony: The Ridesharing Company
Sony is launching S.Ride, a cab hailing service, in Tokyo. The service is a product of Minna no Taxi, or Everybody’s Taxi, a coalition between Sony, Daiwa, and Kokusai — the big 2 cab companies in Japan — along with four other regional companies. Unlike other countries, Uber’s footprint in Japan is rather small compared to Japan-based taxi operators.
Get Ready for PlayStation 5
Sony today revealed to Wired the early specs and features for their PlayStation 5, which hasn’t been formally announced yet. The company is working with AMD for GPUs and CPUs, implementing high-speed solid state disk drives, working on supporting VR and 8K visuals, and incorporating “3D sound.” The PlayStation 5 will not see release until at least 2020, though game developers already have early development kits to make games supporting it when it sees release.
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