Group 1: H-1B Visa Changes - The Trump administration plans to significantly increase the H-1B visa application fee to $100,000, citing abuse of the program as a reason for the change [4] - The administration is also considering major reforms to the selection process, potentially eliminating the current lottery system in favor of a skills and salary-based allocation [4] Group 2: Amazon's Grocery Strategy - Amazon announced the closure of all 19 Fresh grocery stores in the UK as part of a strategic reassessment of its grocery operations [11] - Five of the Fresh stores are expected to be converted into Whole Foods supermarkets [11] Group 3: Disney Streaming Price Increase - Disney will raise the prices of its streaming subscription packages starting October 21 [13] - The ad-supported Disney+ plan will increase by $2 to $11.99 per month, while the ad-free plan will rise by $3 to $18.99 per month [14] Group 4: Federal Reserve Insights - Federal Reserve Chairman Jerome Powell indicated that asset prices, including stocks, appear to be at high levels, raising concerns about market valuations [9] - Three Federal Reserve officials expressed support for a range-based inflation target rather than the current fixed 2% target, suggesting a potential shift in monetary policy [16]

Market Overview - Major stock indices are experiencing losses after reaching record highs earlier in the week, with the NASDAQ leading the decline, down approximately 244 points or 1% [3][4] - The bond market shows a slight decrease in yields, with the 10-year yield at 4.12% and the 30-year yield at 4.73%, both down three basis points [5][6] - Gold futures have reached a record high of 3,800, marking a year-to-date gain of 42.77%, while Bitcoin is down 0.67% year-to-date [6][9] Federal Reserve Insights - Fed Chair Jay Powell warns of "no risk-free path" regarding monetary policy, indicating that inflation risks are tilted upwards while employment risks are tilted downwards [9][10] - Powell notes a significant softening in the labor market over the past few months, which complicates the Fed's decision-making process [11][12] - The current policy rate is viewed as only modestly restrictive, suggesting potential for future rate cuts as the Fed assesses economic conditions [22][24] Company-Specific Developments - Apple shares have rebounded following the release of the iPhone 17 lineup, but analysts express concerns over pricing pressure and lack of innovation in the product [40][41] - Disney is advised to shut down its ABC network rather than sell it, as this could enhance its revenue growth rate and overall shareholder value by approximately 10% [50][52] - CoreWeave has received upgrades from Wells Fargo and Melius Research, with analysts highlighting strong demand for cloud services [60][61] Gold Market Dynamics - Gold prices are driven by central bank purchases and a declining US dollar, with UBS projecting gold to reach 3,900 by mid-2026 if current trends continue [92][93] - China's potential role as a custodian for foreign gold reserves is seen as a bullish factor for gold prices [92] Banking Sector Outlook - The banking sector faces challenges with low loan demand, despite growing deposits, leading to increased share repurchases [95][96] - Non-bank financial companies are experiencing double-digit growth, contrasting with traditional banks [100][101] - The potential for bank mergers and acquisitions is increasing as the market stabilizes, although overpaying for targets remains a concern [101][102]

Jimmy Kimmel was due to return to ABC's late-night television lineup on Tuesday after a nearly week-long suspension over his on-air remarks about the assassination of conservative activist Charlie Kir... ...

Core Viewpoint - Disney's reinstatement of "Jimmy Kimmel Live!" has intensified the conflict between ABC and local TV broadcasters Sinclair and Nexstar, who collectively own nearly a third of ABC affiliate stations in the US and have decided not to air the show, opting instead for local news [1][2]. Group 1: ABC's Situation - ABC suspended "Jimmy Kimmel Live!" indefinitely due to backlash from Sinclair and Nexstar, as well as pressure from FCC chair Brendan Carr, who threatened to review local broadcast licenses if the show continued to air [2]. - If Sinclair and Nexstar do not air Kimmel's show, ABC's audience may decline, potentially leading to "makegoods" for ad buyers and a long-term decrease in ad rates, further impacting ABC's already declining TV revenue [3]. Group 2: Local Broadcasters' Risks - Local broadcasters may face backlash for boycotting Kimmel, as viewers who support him might turn to streaming services, resulting in a loss of audience for local TV [4]. - Sinclair and Nexstar experienced a decline in ad revenue, with Sinclair's revenue falling by 6% and Nexstar's by 9% in the second quarter, as viewers continue to migrate away from traditional TV [5]. Group 3: Industry Dynamics - Sinclair and Nexstar have gained significant power through consolidation, with Sinclair owning or operating 185 stations and 646 channels, including 40 ABC affiliates, while Nexstar has about 30 ABC affiliates among its 201 stations [11]. - The consolidation has provided these broadcasters with leverage to negotiate better terms and influence ABC's programming, especially in light of perceived biases in late-night TV [12][18]. Group 4: Political Influence - Both Sinclair and Nexstar have conservative-leaning ownership, which may influence their decision to boycott Kimmel's show, reflecting a broader trend of local broadcasters seeking more power in their relationships with networks [16][18]. - Sinclair has made demands for Kimmel's show to return, including an apology to Charlie Kirk's family, indicating a desire to correct perceived biases in late-night programming [17]. Group 5: Late-Night TV Landscape - The late-night TV format is under pressure from both political influences and a challenging business model, with CBS recently canceling Stephen Colbert's show due to financial losses [18]. - Analysts suggest that the decision to deplatform Kimmel aligns with a broader trend of declining relevance for late-night TV, which is seen as less culturally impactful than before [19].

you were out with a very compelling case late last week around uh Disney's ABC asset and that rather than sell it, they should just shut it down. I'm curious if you could just walk through some of those mechanics and some of your thinking around um you know around that that property. >> Yeah, sure.So, um we basically published this note today saying that they should just shut down the TV broadcast company called ABC. Not sell it, just shut it down. And our logic was that because of the comments of FCC chair ...

Core Viewpoint - The analysis suggests that Disney should shut down its ABC asset instead of selling it, as this could lead to an increase in overall shareholder value by approximately 10% due to accelerated revenue growth and a higher valuation multiple [2][4][7]. Group 1: ABC Asset Analysis - Disney's ABC asset is currently valued at only 5% of its potential worth if shut down, indicating that maintaining it is detrimental to Disney's overall financial health [3][4]. - The shutdown of ABC would allow Disney to eliminate regulatory concerns, enabling quicker responses to technological changes, particularly in the context of generative AI [5][6]. Group 2: Streaming Strategy - Disney is expected to continue raising prices for its streaming services, including Disney Plus, to compensate for the loss of revenue from linear TV networks [7][8]. - The company is likely to adopt a bundling strategy, offering discounts for combined subscriptions to Disney Plus, Hulu, and ESPN, similar to tactics used by other industries to drive sales [9][10].

Core Insights - Disney is implementing a new round of price hikes for its streaming services effective October 21, 2025, following a previous increase in October 2024 [1][2] - The price changes will affect standalone subscriptions for Disney Plus, Hulu, ESPN, bundles, and Hulu Plus Live TV [1][2] Pricing Changes - Legacy subscribers of the Disney Plus Premium, Hulu, ESPN Select bundle will see their monthly fee increase from $22 to $25, while the Hulu Plus Live TV legacy plan will rise from $88 to $95 [3] - Certain subscriptions, such as Hulu's ad-free plan and the ad-free Disney Duo bundle, will not see price increases [3] New Monthly Pricing Breakdown - Disney Plus with Ads: $12 - Disney Plus without Ads: $19 - Hulu with Ads: $12 - ESPN Select with Ads: $13 - Disney Plus and Hulu bundle: $11 - Disney Plus, Hulu, and ESPN Select bundle: $20 (without Ads: $30) - Disney Plus, Hulu, and HBO Max bundle: $20 (without Ads: $33) - Hulu Plus Live TV (with Disney Plus, ESPN Select): $90 (without Ads: $100) - Hulu Plus Live TV only: $89 [5] Market Context - With these changes, Disney's on-demand streaming services will align more closely with competitors like Peacock, Apple TV Plus, and HBO Max, while its live TV service will be priced higher than YouTube TV and comparable to traditional cable packages [5]

Is this the company's biggest whopper yet? ...

Core Viewpoint - Sinclair Inc. will preempt "Jimmy Kimmel Live!" on its ABC affiliate stations, replacing it with news programming, despite The Walt Disney Co. announcing the show's return [1][2][5]. Group 1: Sinclair Inc. - Sinclair operates the largest network of local television stations, owning, operating, or providing service to 185 television stations in 85 markets [9]. - The company also owns the Tennis Channel and multicast networks such as Comet, Charge!, and The Nest, delivering content through multiple platforms [9]. - Sinclair's history dates back to 1971, founded by Julian Sinclair Smith, and has grown significantly over the decades [10][11][13]. Group 2: Disney's Decision - Disney initially suspended "Jimmy Kimmel Live!" to avoid inflaming a tense situation following comments made about the assassination of Charlie Kirk [5][6]. - After discussions with Jimmy Kimmel, Disney decided to resume production of the show [6]. Group 3: Financial Implications - The preemption of "Jimmy Kimmel Live!" by Sinclair and Nexstar Media Group Inc. may lead to financial repercussions for ABC, as it shuts out certain advertisers [3][11].

Group 1 - Disney is raising the price of its streaming services Disney+, Hulu, and ESPN+ starting October 21, with Disney+ increasing by $2 to $11.99 per month [1] - This marks the fourth price hike in four years for Disney, reflecting a broader trend in the streaming industry where companies are increasing costs due to pressures from cord-cutting [1] - The price increases come amid backlash against Disney+ following the suspension of Jimmy Kimmel's late-night show, leading to social media posts and celebrity testimonials about canceled subscriptions [2] Group 2 - Disney CFO Hugh Johnston indicated that the company plans to continue increasing prices in line with the value provided to consumers, attributing growth to exceptional content from its movie and TV studios [4] - The economic environment, including inflation and rising consumer goods costs, has impacted the overall market and is a factor in the upcoming 2024 presidential election [3]