And welcome back to Roy Exchange. As we close in on the 6 a. m.hour, a check of a few big stories that we are following this morning. Treasury Secretary Scott Besson says he's not forecasting a recession next year. Speaking NBC's Meet the Press yesterday, Besson acknowledges that there are some weak spots when it comes to growth.Clearly, h housing has been struggling and the you so interest rate sensitive sectors have been in a recession. And you know the other thing that was not helpful Kristen was this th ...

Wicked: For Good — yes, the musical about the witches in Oz — is the latest in a legion of films this year taking on politics. https://t.co/9z2y2rYFHE ...

Wicked shattered box office records last year, [music] becoming a worldwide phenomenon. In the first film, we met Marissa Bod as [music] Nessa Rose, Alphaba's devoted younger sister. Now, you might remember this iconic scene when all the Shiz University students go off campus for a night outve.>> You know what. Let's dance. >> Wicked for good.The highly anticipated sequel continues Glenda and Alphaba's story years down the line. The two are now navigating the consequences of their choices and Nessa as well. ...

Wicked: One Wonderful Night features Erivo and Grande — who play Elphaba and Glinda in the Wicked films — singing such Wicked songs as “Popular” and “Defying Gravity.” The special also features other core cast members from both Wicked movies, including Jeff Goldblum (The Wizard), Michelle Yeoh (Madame Morrible), Bowen Yang (Pfannee), Marissa Bode (Nessarose) and Ethan Slater (Boq) — as well as surprise guests. https://t.co/098rIgJRm5 ...

Pricing Changes - Peacock will increase the price of its ad-supported premium plan to $10.99 per month and the premium plus plan to $16.99 per month, effective July 23 [1][4] - This price increase follows a previous $2 rise implemented before the Olympic Games in Paris last year [4] New Tier Introduction - Peacock will test a new "Select" tier aimed at TV enthusiasts, which will feature current seasons of shows on NBC and Bravo, along with a selection of library titles, priced at $7.99 per month [2] Subscriber Growth - Peacock reported a total of 41 million paid subscribers in the first quarter, an increase from 36 million at the end of the previous year [5]

Core Viewpoint - AMC, the largest movie theater operator globally, is experiencing a resurgence due to recent box office successes, particularly during the Memorial Day weekend, despite ongoing challenges from streaming and pandemic-related fears [1] Group 1: Recent Successes - The company benefited from the success of two major films, contributing to a revitalized box office performance [2] - Memorial Day weekend set a record with $326.7 million in domestic ticket sales, driven by Disney's Lilo & Stitch and Paramount's Mission: Impossible -- The Final Reckoning [3] - AMC reported all-time records for admissions revenue, food and beverage revenue, and total revenue during this weekend, marking the highest-attended weekend and five-day period of the year [5] Group 2: Future Outlook - Management believes AMC has turned a corner, with expectations for a robust theatrical box office due to a slate of upcoming films from major studios [7] - Upcoming releases include Disney's Avatar sequel, the next Frozen film, and Warner Bros.' new Superman, which are anticipated to drive further attendance [7] Group 3: Financial Performance and Market Sentiment - Despite recent successes, AMC is still facing revenue declines and losses as of Q1 2025, indicating uncertainty about sustained performance [8] - Short interest in AMC has increased to nearly 15% of outstanding shares, reflecting skepticism among investors about the longevity of the recent stock price surge [9] - The company's future performance is heavily reliant on the film industry's ability to produce hit movies and manage their release timing relative to streaming [10]

Financial Data and Key Metrics Changes - Net sales grew 2% as reported and 4% in constant currency to $827 million [6][25] - Adjusted gross margin increased by 130 basis points to 49.6% [6][25] - Adjusted EBITDA grew 7% to $57 million [6][25] - Cash balance at quarter end was $1.24 billion, an increase of $113 million year-over-year [32] - Total debt remained approximately $2.34 billion [33] Business Line Data and Key Metrics Changes - Dolls gross billings increased 2%, driven by Disney Princess and Wicked, while Barbie and American Girl were comparable to the prior year [26][15] - Vehicles increased 6%, with Hot Wheels growing 7% [26][15] - Infant toddler and preschool overall declined 5%, primarily due to declines in baby gear and Power Wheels [26] - Challenger categories overall increased 14%, driven by growth in Action Figures and Games [28] Market Data and Key Metrics Changes - Gross billings increased 4% in North America, including double-digit growth in Canada [29] - EMEA increased 8% with growth across almost every market [29] - Asia Pacific increased 12%, driven by growth in Australia, India, and China [29] - Latin America declined 7%, reflecting the impact of retailers reducing inventory levels [29] Company Strategy and Development Direction - The company is diversifying its supply chain to reduce reliance on China, with plans to relocate production of 500 toy SKUs from China to other locations in 2025 [9][10] - Aiming to reduce U.S. imports from China to less than 15% of global production by 2026 and less than 10% by 2027 [13][12] - The company is committed to maintaining a strong balance sheet and executing a $600 million share repurchase program for 2025 [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in mitigating actions to offset potential tariff impacts, emphasizing a strong balance sheet and operational excellence [22][23] - The company is pausing full-year 2025 guidance due to uncertainty in consumer spending and the evolving tariff situation [21][22] - Management noted that the toy industry has historically proven resilient during uncertain times [22] Other Important Information - The company reported a strong first quarter with top-line growth and gross margin expansion [6][23] - The entertainment strategy is progressing, with several movies in production and partnerships with major entertainment companies [18][19] Q&A Session Summary Question: Can you outline the roadmap to offset the impact of incremental tariffs? - Management indicated that Q1 was not impacted by tariffs and expects Q2 to be unaffected as well, with potential impacts starting in Q3 [42] - Current exposure to tariffs is estimated at $270 million, before considering mitigating actions [43][44] Question: What flexibility exists in the supply chain to transition out of China? - The company has established a flexible, modular supply chain over seven years, sourcing from multiple countries [50][52] Question: How confident is the company in passing along pricing to retailers? - Management emphasized long-standing relationships with retailers and a strategic approach to pricing, ensuring affordability [55][59] Question: What is the current state of inventory levels post-Easter? - The company reported that both owned and retail inventories are at appropriate levels, with some increases due to the later Easter holiday [78] Question: Have there been changes in retailer buying behavior? - No significant changes in buying behavior were noted, but some volatility is expected in gross billings due to direct import assessments [82][84]

Comcast (CMCSA) reported first-quarter 2025 adjusted earnings of $1.09 per share, which beat the Zacks Consensus Estimate by 11.22% and increased 4.8% year over year.Consolidated revenues decreased 0.6% year over year to $29.88 billion. The figure beat the Zacks Consensus Estimate by 0.69%.Quarter Details of CMCSAConnectivity & Platforms revenues (67.4% of revenues) declined 0.7% year over year to $20.13 billion in the reported quarter. Under the segment, Residential Connectivity & Platforms revenues decrea ...

Financial Data and Key Metrics Changes - AMC's revenue in Q4 2024 increased by 18% year-over-year, reaching a post-pandemic record of $1.3 billion [9][26] - Adjusted EBITDA for Q4 2024 was $164.8 million, more than triple the adjusted EBITDA reported for Q4 2023, reflecting a 240% increase [10][30] - The company generated over $200 million in cash from operating activities and $114 million in free cash flow in Q4 2024, marking the highest quarterly cash flow post-pandemic [11][31] Business Line Data and Key Metrics Changes - Attendance reached over 62 million guests in Q4 2024, a 20% increase compared to Q4 2023, setting a post-pandemic record [12][25] - Food and beverage revenue per patron reached an all-time fourth quarter record of $7.15, while admissions revenue per patron was $11.56, the second highest for Q4 [25][26] - For the full year 2024, AMC achieved all-time records for admissions revenue per patron, food and beverage revenue per patron, and total revenue per patron [13] Market Data and Key Metrics Changes - The domestic industry box office increased from $3.6 billion in the first half of 2024 to $5.1 billion in the second half, indicating a significant recovery in the market [15][16] - The overall box office for 2024 was flat compared to 2023, primarily due to the impact of strikes in the first half of the year [20][121] Company Strategy and Development Direction - AMC's "GO Plan" aims to leverage strengths and accelerate recovery by enhancing guest experiences and increasing attendance [41][42] - The company plans to invest in premium experiences, including upgrading IMAX auditoriums and adding more Dolby Cinema screens [43][44] - AMC is focused on strengthening its balance sheet while pursuing growth initiatives to enhance financial returns [56][68] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, projecting a potential increase in the number of wide-release films by approximately 17% compared to 2024 [19] - The company believes that the box office will grow significantly in 2025 and 2026, with expectations of $0.5 billion to $1 billion growth compared to 2024 [22][124] - Management acknowledged the challenges faced by the industry, including a 40% decline in attendance compared to pre-pandemic levels, but highlighted improvements in profit per patron [61][63] Other Important Information - AMC successfully sold approximately $65 million in movie-themed merchandise in 2024, with a profit margin around 50% [88] - The company has expanded its popcorn sales significantly, doubling sales in 2024 compared to 2023 and increasing distribution to 11,000 retail stores [102][105] Q&A Session Summary Question: Regarding the AMC GO Plan and CapEx - Management indicated that CapEx will remain around $200 million until access to growth capital is secured, with future increases flagged in advance [73][75] Question: Thoughts on streaming and theatrical releases - Management noted that some streaming services are embracing theatrical releases, which could benefit both industries, and highlighted ongoing discussions with major studios about release windows [78][114] Question: Update on merchandise and collectible items - Management reported strong sales in movie-themed merchandise and plans to increase inventory to meet demand [88][93] Question: Opportunities for negotiating longer windows for theatrical releases - Management expressed hope for longer release windows, believing it would benefit both theaters and studios financially [109][115] Question: When might the industry reach a steady state closer to pre-pandemic levels? - Management projected that the box office will grow significantly in 2025 and 2026, with expectations of blockbuster films driving attendance [124]