Yahoo Finance Instagram Founders Part With Facebook, Wall Street Braces for Fed | Free Lunch
On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney highlights breaking news involving Qualcomm and Apple, as well as AMD. He also speculates about the Federal Open Market Committee meeting commencing today. Later, he highlights the recent evolution of media stocks.
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U.S. stocks were relatively flat in morning trading Tuesday, with energy and financial leaders experiencing the best of the trading as Wall Street braces for news out of the FOMC meeting commencing today.
The impending rate hike has been expected for some time, but there’s not certainty when it comes to the tone the Fed will set for the near future, and it is likely that investors will wait until the meeting concludes tomorrow to truly establish next steps.
Elsewhere, Silicon Valley experienced a leadership shakeup this morning as the founder of Instagram announced they were leaving Facebook FB, which bought the picture-sharing platform in 2012. Reports have suggested the Facebook chief Mark Zuckerberg’s increasing presence at Instagram caused a rift between the leaders.
Other major stories from Tuesday morning include a fresh escalation in ongoing legal disputes between Qualcomm QCOM and Apple AAPL, with the former accusing the iPhone maker of stealing trade secrets, and the latest analyst sentiment regarding AMD AMD after its recent monumental run.
The first half of today’s Free Lunch focuses on these new stories. Make sure to check out Ryan’s recap of the headlines!
Later, the host returns to a conversation about the evolving nature of the media industry. The Netflix NFLX-led streaming revolution has changed what it means to be a content producer, and that means traditional media conglomerates have been forced to adapt.
Media conglomerates have underperformed the S&P 500 for years, and Wall Street is likely looking for the evolution of the business to result in stronger outcomes soon. Consolidation has been an answer for some, as evidenced by AT&T T and Time Warner’s merger and the pending pairing of Disney DIS and most of 21st Century Fox FOXA.
But is that the only direction for media to move? And where does that leave competitors like Viacom VIAB? Ryan answers these questions, and several more, on the second half of today’s show!
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Viacom Inc. (VIAB) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
Facebook, Inc. (FB) : Free Stock Analysis Report
QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report
AT&T Inc. (T) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report
Twenty-First Century Fox, Inc. (FOXA) : Free Stock Analysis Report
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