Julie Hyman breaks down Monday’s business headlines, including: The EU opening an antitrust probe into Google, The U.S. Supreme Court siding with college athletes over allowing benefits that include cash or cash-equivalent awards, Steven Spielberg signing a deal with Netflix to produce multiple films, and the U.S. housing market reaching record-high prices.
Netflix (NASDAQ: NFLX) has seen a massive increase in competition for consumer's couch time over the last couple of years. Media giants like Walt Disney (NYSE: DIS) have invested billions in direct-to-consumer streaming services new and old, while longtime-rival Amazon (NASDAQ: AMZN) also made a step-up in its streaming-content investment in 2020.
Netflix (NASDAQ:NFLX) got a reconfirmed sell from Benchmark. The firm reiterated its sell rating saying its deal to produce content for Steven Spielberg is “less significant” than investors believe, CNBC reported. Benchmark maintained its $448 price target on the company.