Video subscriptions to cable companies have stagnated. Yet, some cable companies have managed to deliver pleasant earnings surprises. And growth. That’s nice. How are they doing it, and what’s the opportunity for investors? Here to explain is Ann Miletti, managing director and lead portfolio manager with the Core Equity team at Wells Capital Management.
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Chief Portfolio Strategist Dr. Brian Jacobsen, CFA, CFP®, and Chief Equity Strategist John Manley share their thoughts on this week’s European Union summit.
Although details are lacking, which we should be used to by now with these summits, today’s news from Europe seems to be a step in the right direction. Instead of having the European Stability Mechanism (ESM) lend money to governments, who then would need to recapitalize their banks, the ESM is going to bypass the national governments and inject capital directly into the banks. This should help governments’ balance sheets from getting leveraged up as they attempt to bailout their overly leveraged banks.
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In 2008, when President Obama was then president-elect, his chief of staff, Rahm Emanuel, famously said, “You never want a serious crisis to go to waste.” People on the right excoriated him for taking such a Machiavellian view of politics, but he had a good point. In fact, Franklin Delano Roosevelt used the pain of the Great Depression to transform the U.S. economy, and Ronald Reagan used extremely high unemployment in the 1980s to drive through tax reform in 1981. A crisis can often be a catalyst for significant change.
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Environmental Forum readers, here is the latest version of our ESG (Environmental, Social, Governance) Notes compiled each week by Adam Berkowitz. If you have any questions or comments about Nelson Capital’s ESG notes, please leave them for Adam below or visit our website
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A report showing an improvement in the housing market gave stocks a boost, but concerns about Europe and a disappointing consumer confidence report kept gains modest.
The Dow advanced 32 points, well off of its highs, with 16 of its 30 components gaining ground; the S&P 500 rose 6; and the Nasdaq was higher by 17. Advancers led decliners by seven to four on the NYSE and four to three on the Nasdaq. The prices of Treasuries weakened. Gold futures fell $13.50 to close at $1,574.90 an ounce, and the price of crude oil staged a last-minute recovery, rising 15 cents to settle at $79.36 a barrel.
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