It’s been a bullish U.S. market lately, Federal Reserve interest rates have been low, but how long can it last? Some industry experts believe a selloff is in the cards, with Ron Paul predicting the market could fall 50% over the next 12 months, while others are hoping for a tamer correction.
Here’s what you should know:
Lions Gate Entertainment Corp. (USA) (LGF)
Lionsgate had a hit in its hands this past weekend.
The Hitman’s Bodyguard — starring Samuel L. Jackson and Ryan Reynolds — topped the weekend’s box office figures, bringing in $21.6 million. The box office take topped expectations, which were in the range of $16 million to $19 million.
The film was largely panned by critics, which said the following:
- “The whole film feels slightly grubby and low-res, like it’s been languishing in private mode on the filmmakers’ pre-HD YouTube page since 2008,” New York Magazine’s Emily Yoshida said.
- “The political realism doesn’t sit well with the exploding cars, singing nuns and quipping killers,” Globe and Mail’s Kate Taylor critiqued.
- “Standard stuff. But it’s got more humor and zest than most movies of its kind. And that makes it pretty darn enjoyable,” said an upbeat Seattle Times’ Soren Anderson.
About 70% of the audience for The Hitman’s Bodyguard was 25 and older, while 52% of film-goers were male. The movie was directed by Patrick Hughes, responsible for titles such as The Expendables 3 and Red Hill.
LGF stock fell 19.5% year-to-date.
Microsoft Corporation (MSFT)
Microsoft had a busy weekend as it unveiled plenty of gaming news at a Germany conference.
The company held a presser at Gamescom, revealing the launch of a limited edition version of the Xbox One X, slated for Nov. 7 release. The Project Scorpio version of the console has special packaging and will retail for $500.
However, what the device actually offers is the ability to play 100 Xbox One games in an “enhanced” manner, meaning better visuals. Games that will be enhanced with the Project Scorpio Xbox One X include Halo 5, Fallout 4 and Disneyland Adventures.
Microsoft also announced a Middle Earth: Shadow of War bundle for the Xbox One S. There’s also a Minecraft version of the bundle for the same console, which will be available on Oct. 3, in all markets except Brazil and China.
The tech giant’s gaming division will be publishing Playerunknown’s Battlegrounds for Xbox One. The PC title’s inclusion in Microsoft’s gaming console was announced earlier this year, but it is now known that the company will publish it.
MSFT stock is up 7.1% over the past three months.
Sempra Energy (SRE)
Over the weekend, Bloomberg reported that Sempra Energy is close to acquiring Oncor Electric.
The publication claimed on Sunday that sources familiar with the matter have revealed a $9.45 billion price tag for Sempra’s acquisition. The announcement comes days after it was reported that a mystery bidder was in the running to buy Oncor Electric.
A deal could be officially announced as soon as Monday, but the terms of the agreement have yet to be fine-tuned so there’s a possibility the merger falls through in the coming days.
Sempra reportedly came forward and placed the bid for the company at an Aug. 18 bankruptcy hearing for Oncor Electric. The move would help the latter company survive, as it has been attempting to refinance $50 billion in loans over the previous three years.
SRE stock is up 15.8% year-to-date.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.