Ready, set, stream [Pete Saloutos via GettyImages]
Hey Snackers,
If your baby's first word is "mummy," "biscuits," or "bonkers," then they might have "Peppa Pig Syndrome." British cartoon Peppa Pig has American kids talking in proper British accents.
Stocks ticked up yesterday as investors turned their attention to corporate earnings from Intel, Twitter, and Snap.
Settled, but unsettling... Since 1999, the opioid crisis has claimed half a million lives in the US. Addiction to opioid drugs like OxyContin, Percocet, fentanyl, and heroin has become a national epidemic. During the pandemic, it got worse: opioid overdose deaths last year were up 37% from 2019 to a record 93K. After two years of negotiations, a few companies that have been blamed for fueling the epidemic have reached a historic $26B settlement with states.
A landmark deal... It's the second-largest settlement in US history, after the $206B deal with tobacco companies in the '90s. If completed, the settlement could end thousands of lawsuits and secure funding for communities to fight the epidemic. Think: addiction treatment programs, opioid education, and funds for first responders. In addition to the payout, distributors also agreed to create a system to help them better spot suspicious drug orders.
Investors reward certainty... Despite the major price tag, shares of McKesson, Cardinal, and AmeriCorp jumped ~5% this week after reports anticipating the settlement broke — J&J stock barely budged. Meanwhile, pharma companies that didn't participate in the settlement — like Teva and AbbVie – face more uncertainty. Investors don’t know how much longer their lawsuits will last, and how much they might cost. OxyContin-maker Purdue Pharma had to file for bankruptcy two years ago to handle its legal liabilities.
More like E-lympics... After a year-long pandemic postponement, the 2020 Olympics kick off today in Tokyo — minus the fans. All spectators have been banned from this year's Games, after Japan declared another state of emergency amid rising Covid cases. Despite the lack of IRL viewers, NBCUniversal is poised to win big even before the competition begins:
Think outside the cable box… Four billion people will watch the Olympics somehow, but NBC is getting creative about where and how they engage:
The Dream Team is now the “Stream Team”… From Amazon adding Premier League matches and Thursday Night Football on Twitch and Prime, to Disney beefing up its ESPN+ offerings — streaming platforms are becoming go-tos for live sports. And live sports are becoming increasingly important to growing streaming subscribers. By packing Peacock with Olympic exclusives, NBC is vying for a “Hamilton moment” — a jump in paid subscribers like the 74% boost Disney+ saw after its exclusive, streaming debut of the fan-favorite musical.
Authors of this Snacks own: shares of Amazon and Bitcoin
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