• 9 hours ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and a big update from Comcast.

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Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04There was a lot of focus on retail on Wednesday.
00:06Shares of Target plunged 20% after it cut its full-year outlook.
00:11It was a different story, however, for TJX.
00:13The parent company of TJ Maxx, HomeGoods, and Marshalls beat quarterly forecasts
00:18and said the holiday shopping season was off to a strong start.
00:22On Thursday, attention will turn to existing home sales,
00:25jobless claims, and results from BJ's Wholesale Club.
00:29Shifting now to other business headlines,
00:32Comcast is breaking into two separate companies.
00:35Company 1 keeps the Comcast name and will include Comcast's legacy broadband,
00:40cable, and wireless hardware operations,
00:43along with the Universal Movie Studio and theme parks, NBC News,
00:47the Peacock streaming service, the Bravo cable channel, and Telemundo.
00:52Company 2, called Spinco, will include E!, CNBC, MSNBC, USA Network,
00:59and a number of other cable channels.
01:01The move splits the faster-growing part of the company from the cable TV content business,
01:07which is losing out viewers, to streaming.
01:09Comcast is betting that it can get consumers to pay more for broadband and internet access
01:15by pushing more content from NBC, Telemundo,
01:18and Bravo through the pipes of its Peacock streaming service.
01:21Peacock has both a time and cost appeal to consumers.
01:25Streaming means consumers can watch whatever they want, whenever they want.
01:29And then there's the money issue.
01:31Peacock's cheapest plan is $7.99 a month, plus the cost of internet access.
01:37Compare that to the average cable bill, which costs around $100 a month.
01:42That'll do it for your daily briefing from the New York Stock Exchange.
01:45I'm Conway Gittins with The Street.
01:51you

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