Aug 12, 2017

Netflix trouble could move Monday morning's market

Covers of the weekend Barron's, from Dow Jones, have a history of moving Monday morning's market, and this is a prime contender — "The Trouble With Netflix: As Disney goes its own way and Amazon looms, shares could drop more than 50%," by Jack Hough:

  • "One of the all-time great story stocks, Netflix (ticker: NFLX) has a plot flaw, one that could cut its share price by more than half by the end of the decade. It is chiefly a hit-renter, not a hit-owner."
  • "There's no way to tell how much of Netflix's streaming comes from Disney content. ... Netflix can always find more content to license, but increasingly, that will require fierce bidding, because many of the best content owners already have deals with other streamers."
  • Ouch! "Netflix co-founder Reed Hastings once attributed its market-leading stock gains to 'momentum-investor-fueled euphoria.' ... He was right then, and he's even more right now."

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Joe Biden places second in Nevada caucuses, ahead of Pete Buttigieg

Democratic presidential candidate and former Vice President Joe Biden a Nevada Caucus watch party in Las Vegas on Saturday. Photo: Ronda Churchill/AFP via Getty Images

Former Vice President Joe Biden secured second place in the Nevada Democratic caucuses with former Southbend Mayor Pete Buttigieg third, according to NBC News projections Sunday.

Why it matters: It's a boost for Biden, who's widely tipped to be endorsed by House Majority Whip Jim Clyburn (D-S.C.) on Wednesday, ahead of this week's South Carolina primary.

By the numbers: With almost 88% of precincts reporting, Biden has 20.9% of the Nevada votes and Buttigieg has 13.6%.

Flashback: Bernie Sanders wins Nevada caucuses

Editor's note: This is a developing news story. Please check back for updates.

Sanders reveals free childcare plan for preschoolers

Democratic presidential candidate Sen. Bernie Sanders speaks during a campaign rally on Saturday in El Paso, Texas. Photo: Cengiz Yar/Getty Images

Democratic presidential candidate Sen. Bernie Sanders announced on CBS' "60 Minutes" Sunday a new plan to guarantee free child care and pre-kindergarten to all American children from infancy to age four.

Details: In the wide-ranging interview, Sanders told Anderson Cooper he planned to pay for universal childcare with a wealth tax. "It's taxes on billionaires," he said.

Exclusive: Trump's "Deep State" hit list

Illustration: Aïda Amer/Axios. Photos: WPA Pool/Getty Pool, Drew Angerer/Getty Staff

The Trump White House and its allies, over the past 18 months, assembled detailed lists of disloyal government officials to oust — and trusted pro-Trump people to replace them — according to more than a dozen sources familiar with the effort who spoke to Axios.

Driving the news: By the time President Trump instructed his 29-year-old former body man and new head of presidential personnel to rid his government of anti-Trump officials, he'd gathered reams of material to support his suspicions.