NCAA President Charlie Baker has announced that the organization will move to ban proposition betting, or prop betting, a practice which he says "threaten[s] the integrity of competition." Investors on Wall Street now question the policy change's bottom-line impact on sports betting apps such as DraftKings (DKNG). Yahoo Finance Anchors Brad Smith and Seana Smith discuss the sports betting sector and athletes' monetization. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Nicholas Jacobino
Many on Wall Street are bullish toward Netflix (NFLX), with 40 Buy ratings and 16 Hold ratings. Wedbush analysts gave the stock an Outperform rating and raised the price target to $725 from $615, but removed Netflix from its "Best Ideas List." Wedbush Securities Vice President of Equity Research Alicia Reese joins Yahoo Finance to give insight into why Wedbush removed Netflix from the "Best Ideas" list, yet remains bullish on the stock. "We were still very bullish on the stock. We just don't expect the same outsized growth in the shares that we saw over 2023. I think what we're going to see is a shift to some extent from subscriber growth in 2023 that was really outsized. A lot of that driven by the password sharing crackdown and the ad tier as its limited churn. We think ad tier will continue to limit churn over 2024 and beyond," Reese states. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Nicholas Jacobino
The University of Michigan's Consumer Sentiment Index beat March expectations with a reading of 79.4, surpassing predictions of 76.5. This figure marks the highest level since July 2021, indicating a resurgence in consumer confidence. Additionally, pending home sales data released Thursday morning beat February estimates with a 1.6% month-over-month increase versus the 1.5% expected. The rise in pending home sales is attributed to more individuals entering the workforce and increased inventory levels in the housing market. Yahoo Finance's Seana Smith and Madison Mills break down the details, analyzing how markets (^DJI, ^IXIC, ^GSPC, ^RUT) are digesting these numbers. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Angel Smith
(Bloomberg) -- More New Yorkers have stopped paying their property taxes — a troubling trend since the onset of the pandemic that city officials attribute to the end of a tax-lien sales program that punishes delinquency.Most Read from BloombergLondon Insurers Face Baltimore Bridge Payouts Worth BillionsDubai Is Losing Its Allure for Wealthy RussiansBiden Gains Ground Against Trump in Six Key States, Poll ShowsChina Property Crisis Is Rippling Through Its Biggest BanksUBS Banker’s Frustration Exp
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