Plus: Alibaba to publish its earnings report on Nov.16
| For November 12, 2023 |  |
| Let’s take a look at the week ahead in Business. Arbër
p/Arber | |
| 1 | | "The Marvels," which debuted this weekend, is set to become Marvel's biggest box-office flop yet. Industry experts estimate the movie will gross around $50M this weekend, less than the $80M initial prediction. More details: "The Marvels" grossed $21.5M in its first day and is expected to gross anywhere from $47M to $52M. With a budget of $274M, the box-office earnings are disappointing and are likely to result in a loss, a rare occurrence for Marvel movies. Keep a lookout: Depending on how poorly it does, it could result in a change of strategy for Disney, which had a decade of unprecedented box office success with its Marvel movies, grossing nearly $30B. Many industry analysts have pointed out that fans may have "superhero fatigue," but others have suggested that Disney+ and the ease at which Marvel movies and series can be watched from home has played a major role. |     | |
| 2 | | Alibaba is set to publish its earnings financial reports on Nov. 16. Wall Street estimates Alibaba will report $30.79B in revenue. More: - This estimate represents a slight increase from the same period last year when the company reported $28.95B in revenue. The e-commerce giant's stock price has increased to $82 from its yearly low of $58 but has dropped 32% since reaching a year-high of $121.
- Overall, the stock continues to trail the S&P 500 by 13%.
- Analysts believe the company will grow from the AI wave, as its new tools could become the backbone for AI development in China.
| | | |
| 3 | | Boeing is reportedly set to close an order on a large number of 777 jets in a new deal with Emirates on Monday, Nov. 13. What to look for: This order is separate from the 155 planes that Emirates has already ordered from Boeing. In addition to at least 20 Boeing 777 planes, the airline company is looking to acquire several 787 aircraft. More details: While 777 jets are expected to debut in 2025, they are seen by Emirates as a way of getting ahead of the competition. Other companies, such as Turkish Airlines, have also ordered around 600 planes from Boeing and Airbus, a sign that the industry is decisively recovering from the 2020 pandemic crisis. | | | |
| 4 | | According to reports, Continental may announce 5500 job cuts as soon as Nov. 13. The company is one of Europe's largest auto parts manufacturers. More: - Out of the 5500 jobs, at least 1000 of the affected employees will be in Germany, where Continental AG is headquartered.
- If 5500 employees are let go, it would represent 3% of Continental's global workforce.
- The company is likely to cut administrative roles first, while other departments, such as operations and business, will remain as they are.
- Replying to a media inquiry, Continental said that any decisions made would focus on making the company more efficient and that the public would be notified once a change is implemented.
| | | |
| 5 | | What to look for: Orders for the $699 Humane AI Pin will begin on Nov. 16, as the company presented the device earlier this week. More details: Humane is a tech company based in Silicon Valley, founded by two former Apple employees. The AI Pin is a wearable device that can be clipped into clothes. The pin can take 13-megapixel pictures, video, translate, play sounds, etc. The device's starting price is $699, while users will have to pay a $24 monthly subscription to have unlimited calling, texting, and data with T-Mobile. The device will be available in three colors and will weigh around 50 grams. | | | |
| 6 | | Keep a lookout: German cable company Tele Columbus is close to securing $214M in funding from creditors, according to reports. In exchange, creditors would push the existing loan maturity deadline to 2028. More details: Tele Columbus shareholder has secured cash injections from Morgan Stanley Infrastructure Partners and United Internet AG amounting to $107M. The cable company currently has about $495M of term loans due in October next year and $696M of high-yield bonds maturing in May 2025. According to reports, the debt extension may also come with an option for the company to pay interest in-kind instead of in cash. | | | |
| 7 | | Quick Hits: - Elevate your Kubernetes skills with this must-read resource for building cloud native applications. Get your Kubernetes Cookbook today.*
- Airlines in Argentina did not charge fees for the fans who flew to attend Taylor Swift's concert, which was postponed. The decision is being seen by industry experts as unusual and highlights Swift's star power.
- SAG-AFTRA has presented details from the deal that Hollywood studios agreed with, helping end a long strike that put all movie productions on hold.
- Credit rating agency Moody's has stated that the U.S. risks losing its AAA status soon, making it the third major agency that could remove the U.S.'s perfect rating.
*This is sponsored content. | | | |
| Upcoming Events | | NOV
25 | | AI in Financial Services with Saroop Bharwani | | | | | | | NOV
25 | | The Future of Fractional Work with David Berkowitz | | | | | | * This is a sponsored event | | | |
Term of the Day Cash position: Cash position is the amount of cash and cash equivalents an entity has on its balance sheet at a given time. Question of the Week What perks would convince you to return to the office? Join the conversation |
 | Writer | | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. | | This newsletter was edited by Vibha Chapparike | |
| |
| |
