Netflix is putting out strong performance data, but investors don't seem to care, according to Credit Suisse. Despite positive numbers coming from app downloads and a stellar slate of original content coming out of the streaming company, investors are still fleeing the stock, the firm said. "Investor interest in Netflix is at a nadir with a view the stock will not work given these competitive launches the next few quarters," said Credit Suisse research analyst Douglas Mitchelson in a note to clients on Monday. "This suggests that for Netflix shares to rebound, 3Q19 results would have to come in well ahead of expectations." Shares of Netflix have cratered nearly 20% since the company reported second quarter earnings that showed a rare loss in U.S. subscribers and a big whiff on international subscriber adds. Investors are cautious on the stock with new streaming launches from Disney, Apple and HBO on the horizon. Mitchelson said a huge beat on third quarter earnings could be the o..
VIDEO1:1001:10Land Rover unveils all-new 2020 DefenderThe Bottom LineLand Rover finally revealed its newly redesigned 2020 Defender at the Frankfurt auto show on Monday — a boxy SUV that was pulled off the market in North America in 1997. Land Rover gave its new Defender a power boost with so-called mild-hybrid electric vehicle technology the didn't exist 22 years ago. It helps give the new Defender 395 horsepower and 406 pound-feet of torque, making it capable of towing up to 8,201 pounds. The company is introducing two different models, the two-door Defender 90 and four-door Defender 110, which give a nod to the original off roader's wheel base length. "The new Defender is respectful of its past but is not harnessed by it," said Gerry McGovern, Chief Design Officer, Land Rover. The car will have six available trims: the Defender, Defender S, Defender SE, Defender HSE, Defender X and Defender First Edition. Customers can also select from four optional accessory packs for t..
VIDEO3:4003:40Brexit damage will be huge for everyone, former Greek PM saysSquawk Box EuropeFormer Greek Prime Minister Alexis Tsipras believes it's time for a more flexible economic policy in the country and has told his main political rival to make good use of what he achieved over the last four years. Tsipras, who was elected as prime minister back in 2015 on an anti-austerity platform, oversaw the third, and last, bailout program that the embattled Greek economy received. He put forward hundreds of measures at the demand of creditors, which aimed at cutting red tape and increasing labor market flexibility, among other policy areas. However, Tsipras' premiership ended in July, after a snap election gave an outright majority to the conservative leader Kyriakos Mitsotakis. "(Mitsotakis) has to work and to move forward in order to take advantage of what we did in the last four-and-a-half years," Tsipras, leader of the Syriza party, told CNBC's Steve Sedgwick at the Ambro..
VIDEO4:1904:19Economics and business drives politics: Egypt petroleum ministerCapital ConnectionEgypt's petroleum minister praised the "practical and pragmatic" approach to energy security among countries signed up to the Eastern Mediterranean Gas Forum. "I think that energy and, specifically now, gas is very important," Tarek el Molla told CNBC's Hadley Gamble at the World Energy Congress in Abu Dhabi on Tuesday. The forum, which aims to establish a regional gas market and offer more competitive prices, was launched earlier this year. It consists of Egypt, Jordan, Israel, Italy, Greece, Cyprus, and the Palestinian Authority, with its headquarters in Cairo. "The people of the region would benefit out of this gas in order to have some prosperity, some welfare and wellbeing. Therefore, to be more practical and pragmatic, we sought to have this forum." When asked whether the Eastern Mediterranean Gas Forum was an example of business interests coming before political differences,..
European Union Competition Commissioner Margrethe Vestager gives a joint press at the EU headquarters in Brussels on July 18, 2018. -John Thys | AFP | Getty ImagesMargrethe Vestager has been named as the next head of competition policy for the EU, meaning she will continue to oversee investigations into major technology firms. Vestager, once dubbed by President Donald Trump as Europe's "tax lady," has become famous for her billion-dollar-fines against Google and the call on Apple to repay 13 billion euros back to the Irish government; to name just a few of her most well-known investigations over the last five years. But despite her experience in the role, the Danish politician will have plenty of challenges ahead. These include addressing increasing concerns over data privacy and data use, as well as a potential reform of competition rules. Vestager decided earlier this year to block a major rail merger between a French and a German firm — a move that upset their respective govern..
Hisense Roku TVRokuAmazon and Roku are bringing their fierce rivalry in the U.S. streaming device market to Europe. At the IFA consumer electronics show in Berlin last week, both companies announced expansion plans into key European markets like the U.K. and Germany. The goal: bring their platforms to the televisions of international customers eager to take advantage of a slew of new streaming services. "We are starting to look a lot harder at international, as our growth continues into the U.S.," Roku CEO Anthony Wood said in a CNBC interview from the conference. To do this, both companies are investing in partnerships with already-strong European brands. Roku announced its first licensing agreement in Europe on Saturday, saying Chinese television manufacturer Hisense will start selling Roku TV models in the U.K. starting in the fourth quarter of this year. That means Roku's operating system, which provides access to thousands of streaming channels, will come built-in to the new ..