Investors Are Really Confident These Days: LIVE MARKETS BLOG

 | Dec 12, 2017 | 4:30 PM EST
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Here's what happened on Wall Street Tuesday, December 12.

The Dow Jones Industrial Average and S&P 500 both closed the day at record highs while the Nasdaq gave back its earlier gains to close trading in the red. 

Dreamworks to Bring 6 New Projects to Netflix in 2018

Dreamworks and Netflix (NFLX) announced a partnership Tuesday to bring six new projects to the streaming service in 2018.

The first project will be "Trolls: The Beat Goes On," which will premiere on Netflix January 19.

Netflix and Dreamworks have been partners for some time, announcing an expansion of a former multi-year deal in 2015. Last year the two companies also announced an expansion of their existing partnership. 

Investors Are Really Confident These Days

The quarterly Wells Fargo/Gallup Investor and Retirement Optimism index registered a 140 reading, the poll's second highest reading ever and close to the record of 147 set in 2000.

The survey polled 1,015 American retired and non-retired investors in November who had at least $10,000 to invest outside retirement plans. Investors were particularly optimistic about the economy, the stock market and employment. 

Retired investors are more optimistic than non-retired, however, with a +151 to +135 split. 

AMC Is Bringing Cinemas to the Kingdom

AMC Entertainment (AMC) and Saudi Arabia's main sovereign wealth fund announced a partnership to bring cinemas to the country as it lifts a 35-year-old ban on cinemas. 

"In line with the fund's mandate to help unlock promising new sectors within the kingdom, PIF and AMC Entertainment will explore theatrical exhibition and related investment and partnership opportunities in Saudi Arabia," the Public Investment Fund said.

AMC shares were up more than 3% Tuesday afternoon.

In a separate deal, Costco (COST) announced that it partnered with movie-theater subscription service MoviePass and streaming service Fandor to offer a one-year subscription to both services for a flat rate.

Helios and Matheson Analytics (HMNY) , which owns a majority stake in Moviepass, was up 12% Tuesday afternoon. 

Toyota Partners With Panasonic Over EV Batteries

Toyota Motor (TM) and Panasonic Corp. (PCRFY) are teaming up to build a consortium of companies to standardize electric car batteries in a move that could help the Japanese auto industry catch up with foreign rivals, according to the Nikkei Asian Review.

Toyota subsidiary Daihatsu Motor and capital partner Mazda Motor are expected to be asked to join the group as well. Rivals like Honda Motor could also be asked to join.

Activision Climbs on Goldman Upgrade

Activision Blizzard (ATVI) shares were rising 2.23% to $64.57 Tuesday after analysts at Goldman Sachs upgraded the stock to "buy" from "hold" on a valuation call, saying that its valuation relative to peers makes it an attractive security. 

The firm expects the company to have accelerating earnings growth over the next two to three years. As a result, Goldman raised its 2019 EPS estimate to $3.04 per share from its previous guidance of $2.79 per share. 

New Email Scam Invokes Package Delivery Companies in Scheme

The FBI issued a warning about an email scheme that fits perfectly with the holiday season.

Hackers are sending out emails saying that packages moved by FedEx (FDX) , UPS (UPS) and the U.S. Postal Service could not be delivered. The emails then ask potential victims to open attachments purportedly carrying invoices, but the attachments actually contain software that compromises your computer. 

The FBI says that people should not open the attachment or click on the link. Instead, the email should be sent to the trash bin where they recommend the file be deleted again. 

BlackRock Warns of 'Bubble-Like' Bitcoin Valuations

Bellinda Boa, head of active investments for Asia-Pacific for BlackRock (BLK) , says that the money manager is "seeing sort of bubble-like valuations" for cryptocurrency bitcoin. "BlackRock's view is that this isn't a financial asset like we would trade in terms of equities and fixed-income instruments," Boa said, according to Bloomberg

Bitcoin pushed back above the $17,000 mark Tuesday morning, reaching a high of $17,273.69. However, the volatile digital currency also reached a low of $16,259.28 over the past 24 hours. 

Nintendo Has Sold 10 Million Switch Units

Nintendo (NTDOY) announced that it has sold over 10 million units of its latest gaming console, the Nintendo Switch, since its March debut in spite of numerous reports of supply shortages. 

"In short, our unique and differentiated proposition with Nintendo Switch is working," said Reggie Fils-Aimé, president and chief operating officer of Nintendo of America, according to Forbes. "We're seeing ongoing momentum and strong demand for the system, since our March launch, through the Black Friday weekend, and now well into the holiday period."

The company promised that supplies would match demand during the holiday season this year. "Our supply chain is very robust," Fils-Aimé said. "Product is arriving at stores and to our dot-com retailers literally every day."

Westfield Sells Itself and Mall Empire for $15.7 Billion

Shopping Mall owner Westfield sold itself to France's Unibail-Rodamco for $15.7 billion Tuesday as brick and mortar retail continues its trend toward consolidation. The Australian company owns and operates 35 shopping centers in the U.S. and U.K. that are valued at about $32 billion, according to Reuters

Westfield shareholders will receive $7.55, or A$10.01, per share in the deal, an 18% premium over the stock's previous closing price. Including debt, the deal is worth $24.7 billion. 

AIG Launches Cybersecurity Service

AIG (AIG) announced that it is launching a cybersecurity service to gauge threat levels for its clients Tuesday. 

The analysis scores companies based on the effect a hack might have on their business and the potential cost from such a threat. 

The company also announced a new partnership with cybersecurity firms CrowdStrike Inc and Darktrace to launch CyberMatics, a service that verifies information AIG receives from customers' cybersecurity tools.

Pepsi Purchases 100 Tesla Semis

Pepsi (PEP) announced the purchase of 100 Tesla (TSLA) electric Semis, making it the largest public purchase of the soon-to-be-active freight transportation vehicles. 

Pepsi joins Walmart and Anheuser Busch (BUD) in making public announcements about purchasing the vehicles. 

Reuters reports that the total order tally for Tesla's semis sits at 267 trucks. 

Pepsi currently has a fleet of about 10,000 trucks already in service. The Tesla rigs aren't expected to come online until 2019. 

Disney Rises as Comcast Drops Out of Running for Fox

Shares of Disney (DIS) were rising premarket after rival Comcast (CMCSA) announced that it was no longer pursuing the purchase of entertainment assets from 21st Century Fox (FOXA)

"When a set of assets like 21st Century Fox's becomes available, it's our responsibility to evaluate if there's a strategic fit that could benefit our company and our shareholders," Comcast said in a statement. "That's what we tried to do and we are no longer engaged in the review of those assets. We never got the level of engagement needed to make a definitive offer."

Comcast said that it has a "strong portfolio of business" already and it will continue to focus on driving growth and creating content for its customers. 


U.S. futures contracts were indicating a positive open for markets that shook off a terror attack in New York City to push higher in the previous session. 

Dow Jones Industrial Average futures contracts were up 0.12% while S&P 500 futures rose 0.08% and Nasdaq futures climbed 0.01%. 

Asian markets had a tough run Tuesday with the Shanghai Composite leading the way lower, closing trading down 1.25%. The Hang Seng closed the day down 0.59% and the Nikkei dropped 0.32%. 

In Europe, the FTSE 100 rose 0.24%, the DAX in Germany rose 0.16% and the CAC 40 in France gained 0.31% with about four hours left in trading. 

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