Broadcasting live to New York, Bloomberg eleventh, Rio to Washington, d C, Bloomberg to Boston, Bloomberg twelve to San Francisco, Bloomberg nine to the country's JUS Exam Channel one nine and around the globe the Bloomberg Radio Plus appen Bloomberg dot com. This is taking stock, coming upon taking stock, a look at the US pay television industry. We're gonna talk about skinny bundles and the competitors. Will Amazon and
Dish be the winners? But right now let's go to Charlie Pellett in the Bloomberg news room for Bloomberg Business Flag. Thank you very much, pim Fox Fox are advancing, heading toward records, the DAL, the SMP, NEZ, dang all gaining. Verizon shares rising on Yahoo deal speculation. Right now we have got shares a Verizon up by one percent. Yahoo shares they are Horror by one point one percent. GE
report had second quarter profit to beat analysts estimates. Those surging sales and energy units helped the industrial giant counter the impact of a sluggish economy. But GE shares are trading lower. They're down now by one point nine percent. GE sold fewer locomotives and less oil field equipment. This global economic uncertainty took a toll on demand for big ticket industrial products. Karen Ubelhardt is a senior analyst at Bloomberg Intelligence. Actually thought it was a good quarter. They
did beat expectations. Oil and gas was very weak, but I actually was worried about it actually even being weaker. Uh yeah, I mean the stocks had a decent run. I think it's more about expectations than it is about actual results. I think the results were pretty good. Honeywell International cut its twenty six sales forecast amidst sluggish global growth and lower demand for energy related products and services.
Honeywell International down two point six percent. Sketcher's USA and VF Corps posting weaker second quarter results than analysts predicted, assigned the shaky global economy prompted shoppers to put off purchases of sneakers and jeans. Sketchers down twenty two point four percent. Right now, shares A VF Corps are trading LAWA by nine tenths of one percent. Equities higher S and P five hun Did It Index up seven to
seventy two, a gain. There are four tenths of one percent down, Industrial is up twenty eight, a gain of two tenths of one percent. NAS stack of twenty five, a gain of five tenths of one percent, Gold down seven twenty benced, THET three A dropped. There are five tenths of one percent, and crude oil thirty of barrel now West Texas Intermediate Town one percent to thirty two on Wall Street. Now a look at the other stories making news. Thank you Charlie from the Bloomberg News room.
I'm Rami in essentio. Munich. Police say there are several people dead and wounded in an attack on a mall. Police also say the shooter or shooters are now on the run. This man works at a nearby gas station. Are parios everybody are running around. Train service has been halted after reports at the gunmen or gun men tried to flee by train. Donald Trump met with campaign volunteers
this morning, offering praise and thanks. Trump says he'll benefit from the Democratic Party's poor treatment of Bernie Sanders and Bernie was tough. Bernie was stuff. We're gonna get a lout of the Bernie voters by the woman because they didn't treat Bernie right. They didn't treat him right. Now that the Republican National Convention has wrapped up, it's the Democrats turn. Here's Amy Morris from the Bloomberg Washington newsroom.
Bloomberg Congressional reporter Eric Wawson says he is watching for the theme of the convention, any specific policies that might unite Democrats. We know that minimum wage is a major one. Equal pay will also be emphasized. But if you looked at the way the platform came to go, there was a major fight on trade, for example. The platform remains neutral on that, Wawson says. While Democratic senators do plan to be in Philly on the House side, their election
contests are just too close. Many House members planning to stay away. Amy Moore is Bloomberg Radio Washington, and the New Jersey town made famous by the Jersey Shore reality TV series, is ready for some quiet time on its beaches. Seaside Heights is banning speakers, boom boxes, and any other loud music from its beaches beginning today. It's part of a sixty day experiment Global News twenty four hours a day, powered by more than journalists and analysts in more than
one under twenty countries. I'm Ramie in essentio. This is Bloomberg, Charlie, and we thank you and again recapping S and P five Hunted Index up seven to two, a gain narrow four tenths of one percent. I'm Charlie Pellet and that's a Bloomberg business flash. You're listening to Stock with Kathleen on Bloomberg Radio. Netflix is putting pressure on traditional pay
television providers such as Comcast. At the same time, these cable companies are fighting with satellite providers and other competitor It is in order to attract a shrinking customer base. Here to tell us more about trends in the US pay television industry. Tuna Amobi, equity analyst for SMP Capital I Q Tuna, thanks very much for being with me tell us about these trends and the competition that is coming from non traditional television broadcasters. Hi Pox, Hi team,
good afternoon, Thanks for having me on the show. Um So, I guess you know. We're seeing a trend now of consumers increasingly sobstitute in their traditional pay TV packages for online video. Um. Some of this reflects the maturation of the USA TV landscape. Um also the fact that cable bills have been rising much faster than inflation, so consumers have been increasingly looking for cheaper alternatives like Netflix, and now we're seeing a whole new generation of skinny cable
bundle packages with Internet. So I think, um, the traditional pay TV companies are getting a run of their money because their customer bases declining or at least very mature, and we're seeing um, you know, these up starts, you know, kind of chipping away. What's what if you could define what is the term skinny bundle or skinny package, what does that mean? Well, it's just the term to refer
to slim down programming packages. So if you think about the average um, you know, viewer gets you know, literally hundreds of channels, but studies have shown that consumers will only watched just a handful of those. So the thinking is, why should consumers continue to pay for um, literally hundreds or dollars of channels at the minimum that they're not
even watching. So that's why we're seeing more customized offerings, so called skinny bundles that you know, you can basically, um, you know, get customized packages in some respects, including some of the most watched you know programming channels for much cheaper monthly subprison fees. To tell us about Amazon and what you foresee their programming will be like in the next couple of years. UM, Well, seen, we've seen Amazon really you know, elevate their their game in terms of
their video offering. UH. So, not only have they rotcheted up their original programming investments in the last several years, UM, we're also seeing them trying to customize some of their offerings because recently they just launched you know, a stand alone streaming offering, so you no longer need to be a prime subscriber to to be able to get the Amazon you know video. This is an aim that had to have competition with Netflix. So while they're still lagging Netflix,
Amazon in terms of the uh the the array of content. UM. I think they really have made a significant amount of you know effort in the last several years to at least close from ground and we're seeing their membership um grow significantly thanks in large parts to what they're now offering on the video side. Tuna is Amazon worth seven forty eight dollars a share. It's currently up a little
bit more than a half a percent today. Well, you know, I think that's a very good question that we struggle with. We certainly still have um, you know, by recommendation on on Amazon. Um. You know, I think that frankly, I think that we we see quite some offsite, albeit relatively moderate, from current levels. UM. There's any number of ways you
can justify that valuation. Right, So there's this um Amazon web services that you know is growing and leafs and bounds which could be spun off down the road, we think. And then they're also getting share um you know from traditional retailers like wal Mart and Target, and just recently we saw this huge success from Prime Day, which really really said inbar in terms of what you can expect and how you can expect Amazon to you know, customized
marketing offering. So it's all about you know, convenience and selection and price. When you talk about Amazon, I think they're doing a great job in that respect. To know, why do you consider Sony Corporation s n E is the symbol of the American Depository received Why do you think that Sony is worth buying? Well, I have to tell you Sony, they conglomerate. UM, I think they really have turned around or kind of reinvented their um you know,
struggling core electronics business. So now they're you know, shifting towards more kind of more kind of mobile and customized devices, and they've done a pretty decent job in that. But I think more importantly, I think Sonny is really made some strides on the entertainment side. PlayStation View, for example, is one of those skinny packages that have emerged over the past year and surprisingly getting some traction they against some of these other competitors. So I think they really
try to reinvent their their offerings. And keep in mind when you say PlayStation View, it's not really about PlayStation on itself. It's literally content that's made available across you know, dozens, if not hundreds of devices, and they've been able to really get subtraction with the content providers. Thank you very much. Tuna, a mobi equity analyst for S and P, joining us like giving us the details of trends in the pay
television industry in the United States. The shares of Sony the a d r s UP todays thirty dollars one cents. The stock of Sony up more than twenty two so far this year, This is taking Stock, I'm pim Fox, my co host Kathleen Hayes on vacation, and this is Bloomberg. Miss Hampton's Commuter Minute is brought to you you by land Rover. When towers seem like trees, and roads become rivers, their range Rover Evoke is there to guide you through the
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