On Friday, Shares of Twenty-First Century Fox Inc (NASDAQ:FOXA), lost -1.76% to $26.31.
Netflix is said to be negotiating with Disney (DIS) to stream “Star Wars” in Latin America, according to The Wall Street Journal.
Disney owns the rights to the last five “Star Wars” movies, which were comprised in its $4 billion acquisition of Lucasfilm in 2012. The rights for “Star Wars: Episode IV - A New Hope” belong to Twentieth Century Fox (FOXA).
Disney is seeking to improvement awareness of the “Star Wars” franchise in Latin America due to the boom in the movie theater market there since 2005, when the most recent film in the franchise was released, The Journal noted.
Netflix is not likely to gain streaming rights for the films in the U.S. or Europe because of the strong demand for the movies on other formats, such as DVDs and digital copies.
Netflix, however, already has streaming rights for future “Star Wars” movies after being released theaters and available on DVD, The Journal added.
Twenty-First Century Fox, Inc. operates as a diversified media and entertainment company worldwide. It operates through Cable Network Programming; Television; Filmed Entertainment; and Other, Corporate and Eliminations segments.
Shares of Vale SA (ADR) (NYSE:VALE), declined -2.92% to $4.98, during its last trading session.
Iron ore may average about $50 a metric ton in the final quarter of the year after low prices forced many high-cost producers to quit the market and the world’s biggest mining companies accomplished a round of expansions, according to UBS Group AG, according to Bloomberg.
Expansions by BHP Billiton Ltd. and Rio Tinto Group in Australia and Brazil’s Vale SA assisted to drag prices to the lowest level in at least six years in July, prompting the closure of less efficient miners while increasing the clout of the largest producers. Brazil and Australia were gaining market share in China, the world’s biggest consumer, Vale Chief Executive Officer Murilo Ferreira told reporters this week.
“The majors have just regained control of the iron ore market and can, if they wish, curtail supply to support the price,” said Morgan. “Under $50, we look for supply factors to support the price.” Bloomberg Reports
Vale S.A., together with its auxiliaries, engages in the research, production, and sale of iron ore and pellets, nickel, fertilizer, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally.
Shares of Morgan Stanley (NYSE:MS), declined -3.05% to $33.01, during its last trading session.
Malaysia’s ringgit and Indonesia’s rupiah are the most attractive emerging-market currencies to Morgan Stanley’s asset management arm after a selloff drove them to their lowest levels in 17 years.
The currencies are Asia’s worst performers this year as a slump in commodity prices hurts exports as the U.S. prepares to raise interest rates. Morgan Stanley Investment Management predicts the ringgit and rupiah will outperform peers and says developing economies are unlikely to face a repeat of the so-called Taper Tantrum of 2013 when $70 billion was pulled from their bond markets after the Federal Reserve signaled monetary stimulus would be cut.
“Malaysia is the cheapest from our medium-term foreign-exchange modeling in emerging markets, and Indonesia is second,” Jens Nystedt, managing director at the New York-based money manager, said by phone from Jakarta on Wednesday. “Given the selloff that we’ve seen in both currencies and bonds, you’re rewarded to take exposure at this point. India looks attractive but not as attractive.”
“India and Indonesia have taken steps in the right direction given the new governments that have come in to being, and India in particular has been more bold when it comes to reforms compared to other markets,” Nystedt said. The money manager, which had $403 billion of assets at the end of June, also favors government bonds of the two countries along with Malaysian sovereign debt, he said. Bloomberg Reports
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company’s Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
Finally, SYSCO Corporation (NYSE:SYY), ended its last trade with -0.25% loss, and closed at $39.41.
Sysco Corp said on Tuesday it is targeting at least $400 million in annual operating income growth by 2018 as the food distributor aims to improvement deliveries to local, independent restaurants amid raised competition, according to Reuters.
The company is also aiming for a 15 percent return on invested capital, up from 13.1 percent in fiscal 2015.
“It’s going to come from a very targeted, focused top line growth,” Chief Executive Bill DeLaney told Reuters in an interview preceding to an investor conference. In fiscal 2015, the company’s operating profit was $1.2 billion. “What we’re looking to do is grow our cases and to accelerate our case growth with the locally managed customers we have.”
Sysco said an estimated 15 percent to 20 percent of the operating income growth will come from reducing administrative costs. Sysco has already eliminated about $700 million in annual costs over the past three years.
“Now what we need to do is go in a little more surgically and kind of look at all of our processes and all of our work streams and identify more,” he said.
In August, Sysco said it added activist investor Nelson Peltz, CEO of Trian Fund Administration, and Josh Frank, a Trian partner, to its board. Trian revealed a 7 percent stake in Sysco earlier in the month, becoming its largest shareholder. Reuters Reports
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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