On today’s episode of the Zacks Friday Finish Line, Associate Stock Strategist Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories, including the latest twist in the ongoing battle between Comcast and Disney to buy Fox assets, Google’s new legal headache in Europe, and earnings report from the likes of IBM and Microsoft.
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First up, the hosts discuss Comcast’s (CMCSA - Free Report) decision to give up on its fight with Disney (DIS - Free Report) to acquire certain assets from 21st Century Fox (FOXA - Free Report) . Instead of attempting to outbid another Disney offer for Fox’s TV and movie studios, Comcast will focus its efforts on beating out focus for total ownership of British pay-TV giant Sky.
Maddy and Ryan give their own opinions on why Comcast finally decided to throw in the towel on the Fox deal—and what it could mean for the pending Sky deal going forward.
Next, the Finish Line team covers Alphabet (GOOGL - Free Report) and its latest legal troubles in the EU. The Google parent was slapped with a $5 billion fine from EU regulators this week on charges that it violated antitrust rules through its Android mobile operating system.
This is not the first major fine Google has faced in Europe, but it is one of the largest charges every levied against a U.S. company and underscores the regulatory challenges facing many tech behemoths in today’s world. Maddy and Ryan share their perspectives on this story before heading into this week’s top earnings report.
It was an interesting week for earnings as Q2 report season really heated up with the last of the big financials and a plethora of industrials. However, Maddy and Ryan decided to focus on the better-than-expected tech reports of IBM (IBM - Free Report) and Microsoft (MSFT - Free Report) .
IBM was an interesting story because its revenue surprise was primarily lifted by strong sales in its mainframes business, which many investors saw as a bittersweet result because that unit is not really a long-term catalyst for the firm these days. Still, Wall Street found some encouraging signs in IBM’s report.
Meanwhile, Microsoft once again reported impressive growth in its key cloud computing businesses, underscoring the tech behemoth’s renewed industry dominance. Make sure to check out the show to hear what Maddy and Ryan have to say about this report, and more!
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