Morning Beat: Netflix, Inc. (NFLX), Microsoft Corporation (MSFT), and Valeant Pharmaceuticals Intl Inc (VRX)
Netflix, Inc.(NASDAQ:NFLX) shares are down by 8.67% in pre-market after CEO, Reed Hastings, raised concerns about the company’s growth prospects on the international front. The Streaming giant says it expects 2 million new subscribers internationally against consensus estimates of 3.5 million new subscribers.
Netflix, Inc. (NASDAQ:NFLX) attributes the fewer net ads on the international front to a tough comparison to last year when it added Australia and New Zealand. Given that, the company expects 500,000 new domestic additions against analyst’s estimates of 586,000 new ads, further arouses the impact of competition back at home.
The company’s subscription base could come under immense pressure going forward ahead of the planned rate hikes that will affect more than half of US subscribers.
Bill Gates is in support of Microsoft Corporation (NASDAQ:MSFT) suing the US government over the way authorities seek customer data stored by tech companies. The tech giant wants to be allowed to notify its customers once the government accesses any of their data.
Microsoft Corporation (NASDAQ:MSFT) in its case argues that the government is essentially violating the constitution by gagging it on notifying users about data requests. Gates supports the idea of the government going covertly to get data, but that should only be in extraordinary cases.
The billionaire co-founder is now calling for more collaboration between law enforcement agencies and privacy advocates in a bid to strike a balance on which data authorities can access.
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) finds itself in a tight spot as it continues to analyze which assets to sell, to pay down its $30 billion debt. The company’ market cap has plunged $11 billion over the past year, further arousing concerns of whether it will be able to meet its debt obligations.
A selloff of some assets is seen as the only way out of the current standoff. However, the same will have to be carried out without compromising key businesses. The hardest part is ensuring the selloff process does not in any way offset cash flow, which could make any remaining debt unbearable.
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is currently working with Goldman Sachs Group Inc (NYSE:GS) and Centerview as it continues to analyze which assets to divest.
Alphabet Inc (NASDAQ:GOOGL) owned YouTube is taking the art of streaming VR content to another level with the unveiling of its latest feature, Live streaming, and 360-degree video. Streaming of 1440 video at 60 frames per second is now a possibility with the new feature.
To watch the content one will only need a phone or a web browser as Live 360 product takes care of the rest. Creators of VR content will on the other hand only need cameras that cost as little as $350, to create VR content.
YouTube has also started to offer support for spatial audio on Android as it bids to improve VR experience. It is also working on new APIs that will make it easy for all cameras to stream live VR content.
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