X Reportedly Taps Former Tubi Executive as CFO

President-elect Donald Trump has spent the week following his election win penciling in cabinet picks. His choice for Defense Secretary, Pete Hegseth, is raising eyebrows.

The Pick: Hegseth was a co-host on Fox Corp‘s “Fox & Friends,” Trump’s favorite television show.

The Minnesota native, an Iraq and Afghanistan War veteran, has never held a government position. Hegseth has been a strong supporter of Trump since 2016.

According to the Associated Press, Trump encouraged his supporters to buy Hegseth's book in June and said that if he won the election, "The woke stuff will be gone within a period of 24 hours. I can tell you."

Hegseth supports removing women from combat roles in the military, according to The Independent.

Why it Matters: Trump’s selection of Hegseth surprised many Wall Street observers, according to Barron’s. The television host was not on the radar of research analysts.

Trump announced plans Tuesday to appoint Elon Musk and Vivek Ramaswamy to form the “Department of Government Efficiency,” aimed to “cut wasteful expenditures.”

The sprawling U.S. military complex, which now comprises 13% of the federal budget at nearly $1 trillion, has been unable to pass an independent audit for the last six years, according to Reuters.

Wall Street is apparently not worried that Musk and Ramaswamy will gut military spending to federal contractors. The iShares US Aerospace & Defense ETF has risen over 7% since Trump’s election win. General Dynamics Corp , Lockheed Martin Corp and Rtx Corp have posted gains in that period.

What’s Next: Several Democratic Party politicians including Senator Elizabeth Warren voiced disapproval of Trump’s pick, citing Hegseth’s lack of experience. The “Fox & Friends” anchor will face a confirmation hearing in the Senate following Trump’s inauguration.

Also Read:

• Trump Appoints Elon Musk And Vivek Ramaswamy To Lead ‘DOGE,’ Aiming to Slash Bureaucracy And $6.5 Trillion Federal Spending: ‘We Will Not Go Gently’

Photo courtesy of Wikimedia.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The Kansas City Chiefs are the only unbeaten NFL team remaining in the 2024 season and are the betting favorites to be the first team to win back-to-back-to-back Super Bowls in NFL history.

Here's a look at the current betting odds after the midway point of the 2024 NFL season and how it compares to the start of the season.

What Happened: The National Football League has wrapped 10 weeks of the 2024 season and with each team playing 17 games across 18 weeks, every team has now played at least nine of their 17 games in the season.

With teams all past the midway of their 17 games, here's a look at the current betting odds to win Super Bowl LIX from sportsbook DraftKings Inc and how the odds compare to back in February in parentheses after the Chiefs won their second straight Super Bowl.

• Kansas City Chiefs, 9-0: +400 (+650, 2nd)
• Detroit Lions, 8-1: +450 (+1,200, 5th)
• Baltimore Ravens, 7-3: +600 (+900, 3rd)
• Buffalo Bills, 8-2: +800 (+1,000, 4th)
• Philadelphia Eagles, 7-2: +900 (+2,000, 8th)
• San Francisco 49ers, 5-4: +1,000 (+550, 1st)
• Minnesota Vikings, 7-2: +2,200 (Not in top 13)
• Washington Commanders, 7-3: +2,500 (Not in top 13)
• Pittsburgh Steelers, 7-2: +2,500 (Not in top 13)
• Green Bay Packers, 6-3: +2,500 (+2,000, 9th)
• Houston Texans, 6-4: +2,800 (+2,200, 11th)
• Los Angeles Chargers, 6-3: +3,500 (+2,500, 13th)
• Arizona Cardinals, 6-4: +4,000 (Not in top 13)
• Cincinnati Bengals, 4-6: +4,500 (+1,300, 6th)
• Atlanta Falcons, 6-4: +5,000 Not in top 13)

The list of the top 15 favorite teams includes five that were not among the top 13 favorites back in February. The 49ers, the betting favorites, fell to sixth with a 5-4 record. The Bengals, which had the sixth-best odds in February, fell to 14th and the only team with a losing record to be among the 15 favorites. The Lions and Eagles have moved up several places thanks to strong starts.

The 2024 NFL season could see a first-time Super Bowl winner and could even include a team that has never been to a Super Bowl. The Lions and Texans are two of the four teams that have never been to a Super Bowl and both are among the 15 current favorites with the Lions ranked a narrow second behind the Chiefs.

The Bills, Vikings, Chargers, Cardinals, Bengals and Falcons have all been to a Super Bowl but never won, with the Bills and Vikings each having a 0-4 record in career Super Bowls.

Dropping out of the top 13 for odds were the Miami Dolphins (7th), Dallas Cowboys (10th) and New York Jets (12th), which have records of 3-6, 3-6 and 3-7, respectively.

Strong TV Ratings: The 2024 NFL season witnessed some big primetime television matchups and key rivalries that helped boost viewership.

Amazon.com Inc , which hosts "Thursday Night Football," is seeing its best ratings with an average of 13 million viewers through week 9, up 4% year-over-year and ahead of averages of 11.86 million in the 2023 season and 9.58 million in the 2022 season, as reported by FrontOfficeSports.

Fox Corporation is averaging 18.65 million viewers for its Sunday games, the company's highest average through week 9 since 2016.

Of the 10 most-watched NFL games for the season, five were on FOX, three were on Paramount Global -owned CBS and two were on Comcast Corporation -owned NBC. The most-watched game to date is the Week 1 Chiefs vs. Ravens matchup on NBC with 29.2 million viewers, as reported by Action Network.

The Chiefs have been featured in six of the most-watched NFL games for the 2024 season.

Read Next:

• Here’s How Much A Super Bowl LIX Commercial Will Cost, How Fox Corporation Stock Could Benefit

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The Kansas City Chiefs are the only unbeaten NFL team remaining in the 2024 season and are the betting favorites to be the first team to win back-to-back-to-back Super Bowls in NFL history.

Here's a look at the current betting odds after the midway point of the 2024 NFL season and how it compares to the start of the season.

What Happened: The National Football League has wrapped 10 weeks of the 2024 season and with each team playing 17 games across 18 weeks, every team has now played at least nine of their 17 games in the season.

With teams all past the midway of their 17 games, here's a look at the current betting odds to win Super Bowl LIX from sportsbook DraftKings Inc and how the odds compare to back in February in parentheses after the Chiefs won their second straight Super Bowl.

• Kansas City Chiefs, 9-0: +400 (+650, 2nd)
• Detroit Lions, 8-1: +450 (+1,200, 5th)
• Baltimore Ravens, 7-3: +600 (+900, 3rd)
• Buffalo Bills, 8-2: +800 (+1,000, 4th)
• Philadelphia Eagles, 7-2: +900 (+2,000, 8th)
• San Francisco 49ers, 5-4: +1,000 (+550, 1st)
• Minnesota Vikings, 7-2: +2,200 (Not in top 13)
• Washington Commanders, 7-3: +2,500 (Not in top 13)
• Pittsburgh Steelers, 7-2: +2,500 (Not in top 13)
• Green Bay Packers, 6-3: +2,500 (+2,000, 9th)
• Houston Texans, 6-4: +2,800 (+2,200, 11th)
• Los Angeles Chargers, 6-3: +3,500 (+2,500, 13th)
• Arizona Cardinals, 6-4: +4,000 (Not in top 13)
• Cincinnati Bengals, 4-6: +4,500 (+1,300, 6th)
• Atlanta Falcons, 6-4: +5,000 Not in top 13)

The list of the top 15 favorite teams includes five that were not among the top 13 favorites back in February. The 49ers, the betting favorites, fell to sixth with a 5-4 record. The Bengals, which had the sixth-best odds in February, fell to 14th and the only team with a losing record to be among the 15 favorites. The Lions and Eagles have moved up several places thanks to strong starts.

The 2024 NFL season could see a first-time Super Bowl winner and could even include a team that has never been to a Super Bowl. The Lions and Texans are two of the four teams that have never been to a Super Bowl and both are among the 15 current favorites with the Lions ranked a narrow second behind the Chiefs.

The Bills, Vikings, Chargers, Cardinals, Bengals and Falcons have all been to a Super Bowl but never won, with the Bills and Vikings each having a 0-4 record in career Super Bowls.

Dropping out of the top 13 for odds were the Miami Dolphins (7th), Dallas Cowboys (10th) and New York Jets (12th), which have records of 3-6, 3-6 and 3-7, respectively.

Strong TV Ratings: The 2024 NFL season witnessed some big primetime television matchups and key rivalries that helped boost viewership.

Amazon.com Inc , which hosts "Thursday Night Football," is seeing its best ratings with an average of 13 million viewers through week 9, up 4% year-over-year and ahead of averages of 11.86 million in the 2023 season and 9.58 million in the 2022 season, as reported by FrontOfficeSports.

Fox Corporation is averaging 18.65 million viewers for its Sunday games, the company's highest average through week 9 since 2016.

Of the 10 most-watched NFL games for the season, five were on FOX, three were on Paramount Global -owned CBS and two were on Comcast Corporation -owned NBC. The most-watched game to date is the Week 1 Chiefs vs. Ravens matchup on NBC with 29.2 million viewers, as reported by Action Network.

The Chiefs have been featured in six of the most-watched NFL games for the 2024 season.

Read Next:

• Here’s How Much A Super Bowl LIX Commercial Will Cost, How Fox Corporation Stock Could Benefit

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Netflix NFLX shares have appreciated 63.3% year to date (YTD), outperforming the broader Zacks Consumer Discretionary sector’s appreciation of 8.6%.

It has also outperformed the Zacks Broadcast Radio and Television industry’s appreciation of 37.3% year to date.

NFLX shares’ outperformance can be attributed to its growing subscriber base, driven by expanding local and international content offerings and increasing engagement levels.

The company had 282.72 million paid subscribers across 190 countries globally at the end of the third quarter of 2024 and it expects paid additions to increase in the fourth quarter due to normal seasonality.

Netflix is benefiting from its expanding domestic and international content offerings that are aiding in driving user growth. NFLX’s investment in creative communities in India, Japan, Thailand, Korea and other international markets is improving user retention and driving top-line growth.

Netflix, Inc. Price and Consensus

Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote

At the end of the second quarter of 2024, user engagement was reported to be 2 hours of viewing per member per day.

Netflix’s Expanding Indian Portfolio to Benefit Prospects

NFLX recently announced the trailer of Nayanthara: Beyond the Fairytale, a documentary set to launch on Nov. 18, 2024. The documentary will feature narrations from Vignesh Shivan, Rana Daggubatti, Taapsee Pannu, and Nagarjuna Akkineni and will give viewers a peek into the Lady Superstar’s magical life.

Netflix’s strategy to drive its active user base is focused on regional programming and a diversified foreign language content portfolio. Netflix India’s Maharaja, a historical drama film starring Vijay Sethupathi and Anurag Kashyap, generated a viewership of 22.6 million after its release in June 2024 and is one of the studio's most viewed productions.

Apart from India, Netflix is releasing content for several other international locations like Japan, Korea, Brazil and Thailand, to name a few.

The company is set to launch two of its biggest Latin American shows in December 2024. Senna, a biopic of one of the greatest Formula One drivers from Brazil and A Hundred Years of Solitude, a show based on Gabriel García Márquez’s novel from Colombia, are some anticipated hits that are expected to increase on-demand viewership in the area in the fourth quarter of 2024 and thereby drive topline.

In the fourth quarter of 2024, Netflix’s returning series Squid Game S2 and Outer Banks S4, as well as Black Doves, a drama starring Keira Knightley, are expected to drive the top line by increasing user retention and subscription prospects.

Netflix’s efforts to deliver customized content to viewers by developing and improving monetization and refined plans and pricing aids prospects. While NFLX has increased prices in EMEA countries, it has also altered prices in Spain and Italy.

Further, Netflix’s recent offerings in the live event market have strengthened its leadership position as a streaming service provider by expanding its footprint to engage with customers who are inclined toward live television.

Mike Tyson and Jake Paul boxing match set to take place on Nov. 15, 2024, and Christmas Day NFL games, with the Kansas City Chiefs against the Pittsburgh Steelers and the Baltimore Ravens against the Houston Texans, are some of its unscripted and high-value live events that are expected to positively impact the on-demand viewership hours in the fourth quarter of 2024.

Netflix’s Guidance Positive

For the fourth quarter of 2024, Netflix expects revenues to be $10.12 billion, indicating an increase of 15% year over year.

The consensus mark for fourth-quarter 2024 revenues is pinned at $10.15 billion, indicating year-over-year growth of 14.95%.

For the fourth quarter of 2024, Netflix expects its earnings to be $4.23 per share.

The Zacks Consensus Estimate for fourth-quarter 2024 earnings is currently pegged at $4.2 per share, up 9.6% in the past 30 days and suggesting a year-over-year increase of 99.05%.

The Zacks Consensus Estimate for 2024 earnings is currently pegged at $19.78 per share, up 64.42% year over year and indicating an increase of 3.7% in the past 30 days.

NFLX’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, and missed in one, the average surprise being 5.73%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

For fiscal 2025, based on F/X rates as of Sept. 30, 2024, Netflix expects revenues of $43-$44 billion, indicating growth of 11-13% from 2024 revenue guidance of $38.9 billion, driven by an increase in paid subscribers and ARM.

Netflix expects a fiscal 2025 operating margin of 28% (also based on F/X rates as of Sept. 30, 2024) compared with a forecast for 27% in 2024 and ads revenues are expected to roughly double year over year in 2025.

Should Investors Jump Into Netflix Stock?

Netflix stock is not so cheap, as the Value Score of D suggests a stretched valuation at this moment.

In terms of the forward 12-month Price/Earnings (P/E) ratio, NFLX is trading at 34.4X, higher than the Zacks Consumer Discretionary sector’s 19.36X.

Netflix faces stiff competition from industry competitors, namely Fox FOXA, Roku ROKU and TEGNA TGNA.

While ROKU’s popularity is driven by the Roku Channel and Roku TV Program, FOXA rides on the growing viewership of Tubi, Fox News and Fox Business Network. TGNA’s long-term agreements with NBC, CBS and ABC are a concern for Netflix’s prospects.

However, NFLX’s expanding international content portfolio and clientele bodes well for the investors.

Netflix currently carries a Zacks Rank #2 (Buy), which implies that investors may want to jump into NFLX stock.

You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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