QUICK BLURBS [AMZN, CMCSA, DIS, FOXA, NFLX, TWX]

8/9/2016: DIS (Earnings Call) Since Pixar acquisition in 2006, released 29 films under Pixar, Marvel, Lucasfilm and Disney Animation banners w/ avg global box of $800mn.  DIS has 4/5 top domestic releases so far in cy16.  Focus is on MVPD multichannel bc that’s where the co. is monetizing the most.  Long-term question is how much […]
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QUICK BLURBS [PYPL, V]

[PYPL: 7/22/16] Visa partnership: gives co. long-term fee certainty, volume-based incentives on Visa transactions, the ability to access Visa’s tokenization service for in-store transactions in the US via Visa cards inside customer PayPal wallets in “millions of retail locations” w/ contactless PoS, while retailers pay fees comparable to other contactless transactions.  In turn, PayPal will give […]
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QUICK BLURBS [EXPE, H, IHG, MAR, PCLN]

(1,042 words) 8/4/2016: PCLN (Earnings Call) 23.7mn bookable rooms, 16.3mn of which are within traditional hotel partners.  The average US hotel’s customer base is 30% biz traveler, 30% leisure and 30% large groups.  PCLN sees an opportunity to expand awareness to business travelers on booking.com and build share. If chains insist on offering discounts to […]
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QUICK BLURBS [AET, ANTM, CVS, ESRX, MCK, UNH]

8/3/2016: CVS (Earnings Call) From 2012-2017, co.’s formulary management strategy has saved $9bn for clients without disrupting member care, and on a quarterly basis, co. is evaluating products w/ significant cost inflation that can be replaced w/ more cost-effective, available alternatives.  And so….effective 1/1/2017, CVS is removing 35 products from standard formulary (including 10 hyperinflationary […]
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QUICK BLURBS [CAR, HTZ, NXPI, TSLA]

8/18/2016: Uber (Interview w/ CEO from Bloomberg) [Later this month, Uber customers can summon a “self-driving” car (w/ safety drivers) from the phones in downtown Pittsburg; no other company has yet gone commercial] CEO Kalanick says that Uber realized they needed to get into self-driving once they realized that Google was going into ride-sharing and […]
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QUICK BLURBS [COH, JCP, KORS]

8/12/2016: JCP (Earnings Call) Renewed focus on home products, w/ home business seeing significant improvement y/y and sequentially (sheets, bath accessories, cookware, furniture, appliances)….co has test stores showcasing all home initiatives in one area (windows, appliances, Ashley’s Furniture, Empire flooring, soft home) and early results have been “excellent.” After launching appliance showrooms store-wide this past […]
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QUICK BLURBS [ONDK, SQ]

(431 words) 8/8/2016: ONDK (Earnings Call) The price that institutional investors are willing to pay for loans has declined because other issuers are competing to finance their loans (and offering higher effective returns) and because risk premiums for this space have just risen, so co. is retaining more on b/s and recognizing lower gains on […]
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QUICK BLURBS [AXP, BX, MCO, OAK]

7/21/2016: AXP (Earnings Call) Very competitive card environment right now, but not that different from 90 days ago.  Co. has seen “some modest share of wallet losses” among its existing customers.  Competitors have launched new marketing efforts and products geared towards capturing same card members as AXP and going after former Costco cobrand member too. […]
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