Category Archives: Yahoo

(Bloomberg) -- The sentiment on stocks and global growth among fund managers surveyed by Bank of America Corp. shows full capitulation, opening the way to an equities rally in 2023.

Most Read from Bloomberg

The banks monthly global fund manager survey screams macro capitulation, investor capitulation, start of policy capitulation, strategists led by Michael Hartnett wrote in a note on Tuesday. They expect stocks to bottom in the first half of 2023 after the Federal Reserve finally pivots away from raising interest rates.

Market liquidity has deteriorated significantly, the strategists said, noting that investors have 6.3% of their portfolios in cash, the highest since April 2001, and that a net 49% of participants are underweight equities.

Nearly a record number of those surveyed said they expect a weaker economy in the next 12 months, while 79% forecast inflation will drop in the same period, according to the survey of 326 fund managers with $971 billion under management, which was conducted from Oct. 7 to Oct. 13.

While the stock market was immune to the bleak sentiment till last month, it has started to better reflect investors pessimism, Hartnett wrote.

As the earnings season gains traction, 83% of investors expect global profits to worsen over the next 12 months. A net 91% said global corporate profits are unlikely to rise 10% or more in the next year -- the most since the global financial crisis -- a sign that suggests further downside to S&P 500 earnings estimates, according to the strategists.

Reporting season starts in earnest this week with major US banks out of the way and Netflix Inc., United Airlines Holdings Inc. and Tesla Inc. slated to release results.

Story continues

Global equities have rallied in recent days amid support from technical levels, changes in UK government policies and a focus on earnings. Hartnett and his team described the rally after a US inflation print last week as a bear hug.

Other survey highlights include:

In absolute terms, investors are most bullish on cash, health care, energy and staples, and most bearish on equities, UK and Eurozone stocks, as well as bonds

The most crowded trades are long US dollar, short Europe equities, long ESG assets, long oil, short emerging markets/China debt and equities as well as short UK debt and equity

A record high share of 68% see the dollar as overvalued

Investors see European sovereign-debt markets as the most likely source for a systemic credit event

Investors see rising odds of a policy pivot in the next 12 months, with 28% of participants seeing lower short-term rates within that timeframe

(Updates with earnings details in seventh paragraph.)

Most Read from Bloomberg Businessweek

2022 Bloomberg L.P.

See the original post here:

BofA Survey Screams Capitulation With Rally Set for 2023 - Yahoo Finance

Yahoo Sports Dan Wetzel, and Sports Illustrateds Pat Forde and Ross Dellenger discuss Pats chat with Utah AD Mark Harlan about the current landscape of the transfer portal during the NIL era, and debate if that new era is a good thing or a bad thing.

[AUDIO LOGO]

DAN WETZEL: All right, also-- Pat, you're really working this week.

[LAUGHTER]

You're actually doing--

PAT FORDE: As opposed to all the weeks where I do nothing.

DAN WETZEL: Kind of. I mean, I'm not saying that. I'm just saying you're working. You had a rather eye-popping quote from the-- although not really that surprising-- from the Utah AD. Why don't you lay that one on us? Because it is a topic we discuss here often.

PAT FORDE: Yeah, I sat down with Mark Harlan, the AD at Utah and Friday, the day before they had USC in. A huge, huge home game. And we were just talking about the state of things. And Kyle Whittingham, who's just an absolute pillar of that program, he's been there-- this is, I think, his 18th year as the head coach. He replaced Urban Meyer. He was his assistant and has never left and has made them really just consistently good.

But you can tell he's a bit frustrated with the current way of the world. He's not necessarily wired for a world where collectives are paying recruits up front to go to school. And the term that Harlan used was that-- he worried that basically you can't outwork people anymore. You work and work and work in recruiting, and then somebody sails in with a bag of cash and says, here, come to our school which, of course, has been the way it's happened before. Under the table though.

So anyway, Harlan told me, quote, "We had a player who was offered, I believe, about a million dollars to pull him over to another team by a collective. I called that AD and had a discussion, right? And he's frustrated. Everybody's frustrated. Because this was a friend. It was a friendly call. It was just to say, listen, it happened. My colleague was-- embarrassed is not the right word, but he was frustrated."

Story continues

So it was interesting to me. He did not name the school. He did not name the player. But that an AD would talk publicly about this. Yeah, this is the way of the world now. We've got this collective out here that's tied to this school just tampering, going and saying, we want your player. We want this guy, and we're willing to pay him this amount of money.

And then apparently, the player went to the school and said, hey, I'm being-- people are attempting to buy me. If it's a million dollars, it's probably a quarterback, although there's some other NFL-caliber players on the Utah roster. But if that's the way of the world-- that's the kind of thing that drives coaches crazy is don't come buy my player off my campus.

DAN WETZEL: If I had a collective offering a million dollars to a transfer, I would not be frustrated. I'd be quite happy.

PAT FORDE: Would you?

DAN WETZEL: Yeah, I might pretend I was frustrated.

[LAUGHTER]

It's better than not having a collective offering a million dollars.

PAT FORDE: Except how rare-- it's probably pretty rare if the kid says no. And then not only says no, but turns it in, basically.

DAN WETZEL: Yeah, I think it-- yeah, I don't know. There was a story earlier this year from ESPN, from Pete at ESPN, about Zay Flowers at Boston College. He got offered like 300 grand wide receiver from one school and 600 from another and turned them down because he wanted to stay at BC and finish and get his degree. And that's going to be worth more than that money. And it's a nice story.

And he immediately told everybody that it happened. And his dad's got like 11 kids, like a single dad. Drives a truck. And the money would have been big. And it was a big-- oh, is this what we want the sport to be? My thing with all of these things where you're trying to stop it is, no, this is what the sport is. This is what America is. This is what-- this is how it works.

See more here:

Utah AD says NIL collective offered a player $1 Million to transfer | College Football Enquirer - Yahoo Sports

Chipotle CEO Brian Niccol says California governor Gavin Newsom's proposed changes to the minimum wage could cause the restaurant chain to rethink its presence in the state.

"We pay well beyond $15 an hour in California. So there there is legislation that has the potential to take the hourly wage up to $21, $22 an hour that will put organizations in a place where prices probably have to rise. It's unfortunate because it also impacts the economic model, and that could impact how many restaurants we open in the future in a state like California which is a shame," Niccol said at the Yahoo Finance All Markets Summit on Monday.

People are served in a Chipotle outlet in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly

About 15% of Chipotle's 3,000 plus locations in the U.S. are located in California.

In early September, Newsom signed into law a bill establishing a "Fast Food Council." The 10-member council will set standards for pay, hours and working conditions for fast-food workers in the Golden State. If the referendum receives roughly 623,000 signatures by the first week of December, the measure will appear on the November 2024 California ballot.

The legislation could pave the way for raising the minimum wage for fast food workers to $22 an hour for employers with more than 26 workers. Currently, the minimum wage stands at $15 in the state.

"Equitable? You signed a bill from the hills of Napa that singles out franchise owners with new rules and costs to appease your biggest campaign donors; will raise prices on lower income Californians and will accelerate business leaving the state," tweeted the CEO of the International Franchise Association Matt Haller to Newsom.

Niccol predicts any changes to the industry that come as a result of the Fast Food Council will ultimately backfire on Newsom.

"The brand is loved in California and the employees love working there, and the customers love getting our food. And hopefully that legislation doesn't get in the way of great economics that result in great opportunities for employees and customers. If it does, we will deal with it accordingly...it will be a shame," Niccol added.

Story continues

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

See the original post:

Chipotle will probably have to raise prices because of California's fast food wage bill: CEO - Yahoo Finance

The COVID-19 booster market is starting to look more like an annual flu season than it did in the first two years of the pandemic.

That's according to Moderna (MRNA) CEO Stphane Bancel, who joined Yahoo Finance's 2022 All Markets Summit to discuss the COVID vaccine outlook.

Bancel noted that not everyone is likely to need an annual booster. "I think it's going to be like the flu. If you're a 25-year-old do you need an annual booster every year if you're healthy? You might want to ... but I think it's going to be similar to flu where it's going to be people at high risk, people above 50 years of age, people with co-morbidities," Bancel said.

That isn't the 8 billion global population potential market of the pandemic, but it is still 1.5 billion people that fall into those categories, Bancel said.

"It's a lot of people that are going to need an annual booster. And people that are younger are going to need to decide what to do," he said, noting that he has chosen to get an annual flu shot for years.

While many health experts have been worried about the low uptake in boosters and what it could mean for the coming winter variants, others have echoed Bancel's comments, including Children's Hospital of Philadelphia's Dr. Paul Offit, who recently told Yahoo Finance that boosters are most important for high-risk groups.

With the new bivalent boosters seeing low demand, with only 5% uptake in the month since they've been authorized, questions swirl about what the U.S. has in store for the winter.

Bancel said that uptake is still higher than the seasonal flu vaccine.

"The uptake is actually stronger than seasonal flu from that data I've seen," he said, adding that time will tell.

"It's the first time we're going to be more in an 'endemic' setting (rather) than a pandemic setting," Bancel said.

Moderna's COVID-19 vaccine was the company's first commercial product and continues to be the key source of revenue today.

Story continues

FILE - A pharmacist injects a patient with a booster dosage of the Moderna COVID-19 vaccine at a vaccination clinic in Lawrence, Mass., on Wednesday, Dec. 29, 2021. U.S. regulators have authorized updated COVID-19 boosters, the first to directly target today's most common omicron strain. The move on Wednesday, Aug. 13, 2022, by the Food and Drug Administration tweaks the recipe of shots made by Pfizer and rival Moderna that already have saved millions of lives. (AP Photo/Charles Krupa, File)

But low demand isn't just a U.S. problem. The COVID-19 vaccine market globally is waning, even as new variants burden health care systems.

Even so, Moderna stands to gain from its market position.

A new report from Airfinity pegs the two mRNA vaccines as market dominant, at 94% overall, for 2023. But, the report notes that demand is falling, and with that revenues will follow. Moderna and competitor Pfizer/BioNTech (PFE/BNTX) are both increasing prices as a result and are preparing for even higher prices once entering the commercial market, which will begin once existing government contracts are fulfilled.

"Moderna is estimated to be selling vials for between $32 - $50 with the United States potentially paying even more. Moderna indicated that the potential prices in the U.S. market could range from $64 to $100 per dose," the report said.

This comes while even more competitors come online, but according to the report, still won't be able to penetrate at the level Moderna and Pfizer.

Follow Anjalee on Twitter @AnjKhem

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

Excerpt from:

Moderna CEO: Not everyone will need an annual COVID booster - Yahoo Finance

You wont see it in any campaign ads, but Republicans plan to cause some financial friction if they win one or both houses of Congress in the November 8 midterm elections.

The GOP campaign plan is to ding President Biden and his fellow Democrats for high inflation, while exploiting voter concerns over crime and illegal immigration. It might work. Data site fivethirtyeight gives Republicans good odds of winning the House and lesser odds of winning the Senate. Republicans only need to control one chamber to block Bidens legislative agenda and redirect Congresss focus.

If Republicans do take the House, they seem poised to mount a debt-ceiling showdown, as has happened several times beforeusually triggering voter disgust. Legislation dating to 1917 sets a limit on the total amount of federal borrowing, with Congressional approval required when the government needs to borrow more. Congress has raised the debt ceiling many times, usually without much of a ripple. But Republicans have developed a strategy of holding up debt ceiling extensions for political purposes, knowing that financial markets would crater if Washington couldnt pay what it owes, and had to default. By threatening financial chaos, the (il)logic goes, Republicans draw attention to policy priorities voters would otherwise ignore.

House Minority Leader Kevin McCarthy, who would probably become House Speaker if Republicans prevail in November, recently told Punchbowl News that his party might demand government spending cuts in order to vote to extend Washingtons borrowing limit. You cant just continue down the path to keep spending and adding to the debt, McCarthy said. You got to change your current behavior. The problem is, Republicans would probably propose something drastic that President would be sure to veto, setting up a possible debt-ceiling smackdown.

The last time Congress raised the debt ceiling was in December 2021. It didnt really make news because nothing dramatic happened. Democrats who controlled Congress werent going to cause chaos on their own watch, so they raised by borrowing limit by enough to last for about 18 months.

Story continues

Republicans broadly voted against raising the debt ceiling then, knowing they could vote that way, as the minority, and the extension would pass anyway. Republicans, in fact, are usually deficit hawks when theyre out of power. They become more dovish when theyre running the government, however. The GOP controlled Congress and the White House for the first two years of the Trump presidency, from 2017 to 2019. They passed a big tax cut bill, but did nothing to curtail spending. Federal deficits during Trumps first three years in office averaged about $1.1 trillion per year, the same as under President Obama before him. Including 2020, when Congress passed massive amounts of federal stimulus, federal deficits under Trump averaged about $2.1 trillion per year.

[Follow Rick Newman on Twitter, sign up for his newsletter or sound off.]

Republicans hint that theyll use the next debt-ceiling deadline, which will probably occur in mid or late 2023, to tighten up eligibility requirements for Social Security and Medicare, and impose work requirements for some welfare programs. They wont actually get any of that, and everybody knows it. Biden would veto any such legislation, if a Republican-controlled Congress passed it. If Republicans control just one chamber and simply block a debt-ceiling extension, demanding spending cuts as a condition of extending it, Biden will call their bluff and Republicans will back down at the last second. Thats how the play has ended every other time Republicans have performed it.

The debt-ceiling drama usually has little impact on markets, since everybody knows the script. The one exception came in 2011, when down-to-the-wire negotiations caused a sharp stock selloff and led Standard & Poors to cut the US credit rating by one notch, because of political brinkmanship. The debt is much bigger now, as percentage of GDP, than it was in 2011. And interest rates the government must pay to finance the debt are higher. So who knows, the threshold for market mayhem in 2023 may be lower.

There are at least two other scenarios in which voters might rue a Republican Congress, or one Republican-controlled chamber able to block Biden-backed legislation. The first scenario is a recession that might call for new fiscal stimulus measures. Economists now think theres at least a 50-50 chance of a recession by early 2023, and Republicans have spent a lot of breath complaining about the last big stimulus bill Democrats passed, with no GOP support, in 2021. If theres any stimulus at all during a 2023 recession, Republicans will want to make it smaller rather than larger, and they might block it completely while claiming theres still stimulus money in the system from 2021.

Republicans also seem less inclined to approve military aid for Ukraine, with McCarthy telling Punchbowl, Its not a free blank check. Reduced aid for Ukraine wouldnt affect American voters directly, except that Americans seem to favor vigorous aid to Ukraine and a foreceful rebuke to Russia. As disruptive as Russias war in Ukraine is, it would be worse if Russia were to win and feel emboldened to threaten other European countries or wreak even more havoc on global food and energy markets.

If Republicans do ascend in the midterms, theyll mostly use these tactics to demonstrate why voters should return the GOP to full control of government in 2024. Voters appreciate restraint, and may welcome a less activist approach than the Biden Democrats have offered. But they dont love chaos, and we may find out next year if Republicans realize that.

Rick Newman is a senior columnist for Yahoo Finance. Follow him on Twitter at @rickjnewman

Click here for politics news related to business and money

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

See original here:

The Republican plan to jolt markets if they win in November - Yahoo Finance

Solar energy company SunPower built its reputation on creating a reliable infrastructure to power up homes through clean energy.

Now, its betting that electric vehicles will play a critical role in building that green system for consumers.

Speaking to Yahoo Finance Live (video above), CEO Peter Faricy pointed to bidirectional charging, EV charging that allows electricity to flow both ways, as key to accelerating the move towards electrification.

This is really going to change the world for consumers, Faricy said. The grid today doesn't have enough capacity for all the future EV sales that we expect.

Faricys comes on the heels of SunPowers new collaboration with General Motors, agreeing to develop and install a new home energy system, allowing GMs EVs to provide backup energy to residences. SunPower specifically plans to provide solar panels to GM customers to help bring energy costs down and provide a clean energy solution that allows drivers to avoid charging using fossil fuels.

If you just plug in to your garage, and you don't have solar power, you're just connecting to usually coal or gas or whatever fossil fuel the local utility uses. You're only as green as your charging source, Faricy said.

To enable screen reader support, press +Option+Z To learn about keyboard shortcuts, press slash

While high gas prices helped accelerate EV adoption in the U.S., with emission-free cars accounting for roughly 5% of the market share, bidirectional charging has largely been limited so far. Only a handful of cars currently sold allow for that capability, including the Ford F-150 Lightning (F) and Kia EV6.

But researchers have increasingly pointed to the use of vehicles themselves as key sources of power, to fill the supply gaps that still remain in the power grid. With an aim to move to 100% zero-emission cars by 2035, California alone is expected to see peak charging demand more than double by 2030, according to a recent study by Stanford University.

Story continues

While the Biden administration has targeted the deployment of half a million public charging units by 2030, most experts admit that number falls far short of the number of units needed to support the larger goal of slashing half of all gas-powered cars by 2030.

Globally, the transition to electrification is estimated to add 2,000 TWh to annual energy demand by 2050 - a 40% increase - according to a study by global advisory group ICF, with 400 million EVs expected on the roads by 2040.

A Ford Motors pre-production all-electric F-150 Lightning truck prototype is seen at the Rouge Electric Vehicle Center in the Rouge Complex in Dearborn, Michigan, U.S. September 16, 2021 REUTERS/Rebecca Cook

Bidirectional charging enables energy to flow in and out of vehicles, allowing EVs to provide backup power to buildings or specific loads, through vehicle-to-building charging. Its mobility also allows for EVs to be deployed to sites prior to expected power outages and be used in an emergency, responding to natural disasters.

Faricy said SunPowers new home energy system with GM will be deployed alongside the Silverado Pickup launch, set for 2024. In addition to providing homeowners with an additional source of energy, Faricy said it will also give drivers the opportunity to stretch their wallets while expanding the grids capacity.

Silverado EV customers with a home energy system are also expected to be able to store solar-generated electricity in their compatible electric vehicles battery and export it directly into their properly equipped home during the hours when electricity costs the most, providing an opportunity for them to save even more money on electricity bills depending on home size, energy usage, and utility rates, he said.

Akiko Fujita is an anchor and reporter for Yahoo Finance. Follow her on Twitter @AkikoFujita

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

Read this article:

SunPower CEO: Bidirectional charging 'will change the world for consumers' - Yahoo Finance

Americans are moving on from COVID-19. Most public places, transit, and municipalities have gotten rid of mask mandates. Vaccine booster rates have plateaued, even with the introduction of a new bivalent shot targeting multiple variants, including Omicron.

Pfizer (PFE), the giant, legacy drugmaker, along with its partner BioNTech and rival, Moderna (MRNA), saved lives with messenger-RNA-based vaccines that also gave a big boost to profits. Now to a degree Pfizer has to move on, too.

Next year for Pfizer is a pivotal year, Chief Executive Albert Bourla said in an interview at Yahoo Finances All Markets Summit on Monday. It is the year that we can prove to the world and prove to ourselves that we can do multiple launches. I believe in the strength of our commercial organization, and in the strength of our manufacturing organization.

The company plans to bring more than 10 new medicines to market in 2023, far higher than its typical one or two annually. Thats because its looking to replace declining revenue from its COVID-19 vaccine, Comirnaty, and its viral treatment, Paxlovid. Pfizer has forecast those drugs will generate $32 billion and $22 billion of sales this year, respectively. That's more than half Pfizer's revenue.

Some analysts dont think the drugs will meet those targets. Carter Gould at Barclays, for example, is modeling $31 billion in vaccine sales and $21.5 billion for Paxlovid. He wrote in a recent note that sales could then fall by 43% and 51%, respectively, in 2023.

Pfizer CEO Albert Bourla speaks to Yahoo Finance's Julie Hyman.

Regardless of whether Pfizer meets coronavirus-related sales targets for 2022, the trend is downward thereafter. Bourla has laid out a plan to replace the revenue.

We committed to bringing in $25 billion of risk-adjusted revenue by 2030 and we are already exceeding 10. Our internal pipeline, I think, is the biggest competitive advantage, and business development will provide growth over loss of exclusivity, he said.

The prospect of revenue loss has haunted Pfizer before. Pre-2020, investors saw the biggest risk to Pfizer as being the so-called patent cliff, the loss of exclusive rights to some of its blockbuster medicines. Bourla, who joined Pfizer as CEO in 2019, was working to slim the company down and grow its pipeline of new drugs when the pandemic hit.

Story continues

As Bourla tells it, the process of developing and producing Comirnaty showed Pfizer employees that they could indeed be nimble, and that they could meet seemingly insurmountable goals. Hes trying to use those lessons to foster pharmaceutical development internally and through partnerships (like the successful one with BioNTech). Hes also been making acquisitions to gain new drugs, including Biohaven for $11.6 billion (migraine medicine); Global Blood Therapeutics for $5.4 billion (sickle cell disease treatment); and Arena Pharmaceuticals for $6.7 billion (immuno-inflammatory disease therapies).

Bourla said hell continue on the same acquisition path: We want to acquire science at early stages, that we can add value to by bringing our manufacturing capabilities, our clinical development capabilities.

Shares of Pfizer surged 60% in 2021 as revenue almost doubled. Theyve fallen about 25% this year as investors questioned what would come next. Sell-side analysts, for their part, are evenly split between buy and hold ratings. Pfizer is due to report its third-quarter earnings on Nov. 1.

Julie Hyman is the co-anchor of Yahoo Finance Live, weekdays 9am-11am ET. Follow her on Twitter @juleshyman, and read her other stories.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Follow this link:

Pfizer CEO: 2023 will be a 'pivotal year' as COVID-19 drug sales wane - Yahoo Finance

The Golden State Warriors do, in fact, have very big rings.

The 2021-22 NBA champions unveiled and distributed their championship rings ahead of their season opener against the Los Angeles Lakers, and the jewelry was indeed gaudy enough for a team with four rings in eight years. The rings were designed by Jason of Beverly Hills.

First, the requisite Ring Math. As the Warriors laid out, their new ring features 16 carats of yellow and white diamonds set into yellow gold, representing their 16 wins in last season's playoffs. It has seven carats of yellow cushion cut diamonds on its bezel to represent the team's seven championships. And it has 43 baguettes on the Bay Bridge logo to represent Stephen Curry dropping 43 points in Game 4 of the NBA Finals.

The Warriors said it is the first NBA championship ring to feature yellow diamonds, in case you are in a really hard basketball trivia league.

The novel feature of the ring is a secret compartment that opens to show a collection of trophies reflecting each player's personal count of championships. So, four for Stephen Curry, Draymond Green, Klay Thompson and Andre Iguodala, three for Kevon Looney and one for everyone else.

You can see it up close and in action here:

And Curry gave it a whirl here:

Other features of the ring include architectural features of the Chase Center on the side, the game scores of each series in their playoff run, seven Larry O'Brien trophies, the team's "Just Us" mantra and an Oracle Arena pattern on the underside of the ring.

And, because no ring especially a Warriors ring is complete without some trash talk, the Celtics' parquet floor, on which the team won the ring in the first place.

Now we wait and see if the Warriors have to design yet another one in the near future, though "Can a secret compartment fit five trophies?" probably isn't a question most NBA fans want answered.

The Warriors found a way to take a dig at the Celtics with their NBA championship rings. (AP Photo/Godofredo A. Vsquez)

See the original post:

Warriors unveil championship ring with yellow diamonds, secret compartment and a dig at the Celtics - Yahoo Sports

The movie business is in flux, as the rise of streaming has put pressure on traditional movie theater operations, like AMC Entertainment (AMC). Nevertheless, the movie theater model remains alive and well, said acclaimed producer Jerry Bruckheimer at Yahoo Finance's All Markets Summit on Monday.

"You've just got to make movies and embrace the audience," he said. "Unfortunately, with the pandemic, we weren't making a lot of movies that really could play in theaters. Streaming has its place. Theaters have their place. I always use this analogy: You have a kitchen, right? Would you like to go out to eat? So, it's not always [one or the other]. You might want to stay home and watch television."

Bruckheimer's career has featured some of Hollywood's biggest blockbuster successes, including "Pirates of the Caribbean," "Bad Boys," and most recently "Top Gun: Maverick." For Bruckheimer, the "Top Gun" sequel, which stars Tom Cruise, re-affirmed that group movie theater experiences, with the right movies, remain alluring.

It's a group experience. Its exhilarating when you go to opening weekend and people are cheering and applauding for the right type of movie, and that's what happened with 'Top Gun,' Bruckheimer said. "I went all weekend the first weekend, and stood behind the seats at the Chinese Theater. I was watching the movie in IMAX, and watched how exhilarated the fans were. When you talk to people, most people haven't seen it just once. They've seen it twice, or three times. One person wrote us saying they'd seen it 100 times."

After a two-year delay brought on by COVID-19, "Top Gun: Maverick" netted nearly $1.5 billion at the box office. Even before the pandemic, that would have been a triumph, as only 51 movies in history have ever hit the billion-dollar box office mark, according to data from Box Office Mojo reported on by Insider.

Story continues

LONDON, ENGLAND - MAY 19: Producer Jerry Bruckheimer attends the Royal Film Performance and UK Premiere of "Top Gun: Maverick" at Leicester Square on May 19, 2022 in London, England. (Photo by Tristan Fewings/Getty Images for Paramount Pictures)

Bruckheimer's work spans traditional studios and tech-native streamers. For instance, he's currently producing "Beverly Hills Cop 4" for Netflix (NFLX) and on "Young Woman and the Sea" with Disney (DIS). Meanwhile, "Top Gun: Maverick" was released in theaters through Paramount (PARA) with plans to stream on Paramount Plus.

So, what sequel does Bruckheimer want to make next?

"Well, we hope to do another 'Pirates'," he said.

When "Pirates of the Caribbean: The Curse of the Black Pearl" came out in 2003, it was an unlikely hit. That movie based on the eponymous theme park ride and starring Johnny Depp as the now-famed Captain Jack Sparrow has since become a five-movie series. Over two decades, the franchise has grossed more than $4 billion worldwide. This puts Pirates among the top 15 highest-grossing movie franchises of all-time the DC Extended Universe has grossed $5.6 billion, while Transformers has netted $4.86 billion, CNBC reported.

Bruckheimer has also succeeded in television, producing the "CSI" franchise, "Lucifer," and "The Amazing Race." This year, he's had two new shows come out: Showtime's "American Gigolo" and CBS's "Fire Country," which follows firefighters in Northern California.

"I like to do shows that give you an inside look into a world you've never been part of," Bruckheimer said. "We have this new show called 'Fire Country,' which had the highest ratings of any new show that just came out two weeks ago... It's giving you an inside look at what firefighters do. 'CSI' gave people a good look at what CSI do, and 'Top Gun' gave you a great look at what aviators do. I love giving people process."

Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. Follow her on Twitter at @agarfinks.

Click here for the latest trending stock tickers of the Yahoo Finance platform.

Read the latest financial and business news from Yahoo Finance.

Download the Yahoo Finance app for Apple or Android.

Follow Yahoo Finance on Twitter, Facebook, Instagram, LinkedIn, and YouTube.

Link:

'Top Gun' producer on why the movie theater model isn't dead: 'It's exhilarating' - Yahoo Finance

October is a little early to really be talking about the NFL draft, but lets face it: Some of these teams (specifically looking at you, Carolina Panthers) dont really have much left to play for. In the coming weeks, more and more fan bases will start looking toward the offseason as their teams rack up the losses and sink into irrelevancy.

A handful of teams will be looking for a franchise quarterback in next years draft class. Alabama might have that guy under center right now. Tua Tagovailoa, Mac Jones and Jalen Hurts all repped the crimson and white in recent seasons, and now Bryce Young is poised to be the next highly drafted Alabama signal-caller.

Young just might be the best of them all. He's a magician in the pocket and easily one of the most talented throwers in the country. Hes been able to execute whatever throw Alabamas offense requires of him, and it's a unit coordinated by former NFL head coach Bill OBrien. Young won the Heisman Trophy last season in just his first year as a starter, with 4,872 passing yards and 47 passing touchdowns to go along with three more scores on the ground. From a skills perspective, Young appears to have all the goods to be a long-term starting quarterback in the NFL.

However, Youngs draft projection isnt fully agreed upon by analysts. His size (listed at 6-foot, 194 pounds on Alabamas roster) is going to draw some concern among people who prefer taller, sturdier passers in the pocket. Still, Young appears to offer enough high-level passing traits that translate to the current aesthetic of the NFL game. Youngs legs are a weapon, but his arm is the driving force of what makes him arguably the best quarterback prospect in the 2023 NFL draft.

People who cover college football know just how good Young is and he even showed that throughout Alabamas 52-49 loss against Tennessee this past weekend. The Crimson Tide dropped that game even though Young managed 455 yards and two touchdown passes on 8.8 yards an attempt. Without Young putting the offense on his back for drives at a time, Alabama wouldve been walked off the field by Tennessee. Seth Galina, a college football analyst for Pro Football Focus, is bullish on Young and his ability to be the face of an NFL franchise.

Story continues

Young is one of the most intelligent quarterback prospects we've seen in a long time, Galina said in an interview with Yahoo Sports. He processes information at a high level. Besides being supremely accurate, one of his best traits is figuring out what coverages and plays the defense is going to be running before the snap so he can play as fast as possible after the snap. He's not waiting for the defense to declare itself after the snap, he's one step ahead.

Bryce Young's ability on the move is one of the traits that NFL teams figure to love, even if there are questions over his size. (Photo by Andy Altenburger/Icon Sportswire via Getty Images)

Youngs prowess as a passer, before and after the snap, has scouts and analysts enamored, but even Galina cant totally overlook Youngs size. There havent been too many players at Youngs size who have had sustained success over the years Russell Wilson and Drew Brees are probably the strongest examples of smaller quarterbacks having long, successful careers. Still, the totality of his game makes him an enticing prospect despite his size.

Evaluating him as an NFL prospect is trickier, Galina said. At his height and weight, there aren't many quarterbacks who are selected in the draft, never mind the first round. We can always compare him to some of the shorter quarterback outliers over the last couple decades who have been elite NFL starters, but they are outliers for a reason. If Young is two inches taller, he might be the best quarterback prospect in a long time. That's how smart he is.

Youngs draft prospects are certified even with the concerns about his size. NFL teams have been willing to overlook players that dont have prototypical size in exchange for otherworldly skills. Beyond that, Young holds a special place in the history of Alabamas football program.

He appears to have a little extra juice than the three NFL quarterbacks that played before him and has something in his closet that none of them have a Heisman Trophy. Young will enter the NFL as a more accomplished player individually than the other three, and Tagovailoa, Jones and Hurts have all shown signs that they can be quarterbacks worthy of a second starting contract in the NFL.

This puts Young in an interesting position as far as his Crimson Tide legacy goes, which Sports Illustrated and SEC Networks Richard Johnson explained to Yahoo Sports.

It cannot be understated how much Bryce Young means to Alabama, Johnson said. Sure, you may think it's Alabama and they've got all the talent in the world, but they don't beat Texas earlier this season without him. They don't come as close to beating Tennessee as they did without him either. As Bama has pivoted away from the defensive and run-game oriented offense of the early Saban era, this team is almost the exact opposite. It's basically all Young.

Youngs presence represented a bit of a philosophical shift in the way Saban operated his program. In his early days, the Crimson Tide were filled with behemoth players like Andre Smith and Chance Warmack and Terrence Cody, but as college football (and football in general) has become schematically sleeker, players like Young have really been able to shine. The truth of the current iteration of Alabama football is that it needs players like Young to be able to take control of games for stretches at a time.

He has a preternatural ability to operate outside of the pocket and keep plays alive when they've broken down, and it has saved the Bama offense multiple times, especially this year's version, Johnson said. Last year, he was one of the most pressured quarterbacks in college football and yet he still produced the way he did. That could be attributed to the WRs he had, but his offensive line situation is similarly struggling and without a real standout receiver, his best pass-catcher is probably running back Jahmyr Gibbs.

The thing is, we've already seen what Bama's offense is without him against a good defense when Jalen Milroe spelled him against Texas A&M. Yes, Milroe is young, but previous Bama backups have come in games and, you know, won the national championship. Without Young, I don't think the Tide will be doing that this year.

Youngs NFL prospects will be debated over the next seven months, but his current impact on college football cant be overstated from a skill or legacy perspective. Young is one of the most productive players in this era of football and projects be one of the highest draft picks in 2023.

Right now, Young and Ohio State quarterback C.J. Stroud are the top dogs in the quarterback class. For Young, just turn on the tape and youll see why hes going to be the face of a franchise even with concerns about the long-term viability of his game. Hes a special talent, and the reason why Alabama still has a chance to win the national championship in the wake of their loss to Tennessee.

View post:

Bryce Young's NFL draft prospects are dogged by questions about his size and that's about it - Yahoo Sports