Tag Archives: AT&T

Business

AT&T earnings were ‘actually good’ despite stock selloff, says analyst

Leave a comment

AT&T Inc.’s shares fell sharply Thursday after the telecommunications giant cut its free-cash-flow forecast for the year, but one analyst said the latest report wasn’t all bad.

In fact, LightShed Partners analyst Walt Piecyk titled his research note: “AT&T’s Q2 Was Actually Good. Here’s Why.”

Admittedly, AT&T’s
T,
-7.62%
management team didn’t win points from Piecyk for its handling of cash-flow forecasting over the past few months. Piecyk recalled flagging issues with AT&T’s older free-cash forecast back in March, namely a “liberal use of rounding, aversion to simply stating a cash tax estimate for presumably political reasons, and ultimately the use of working capital and DirecTV distributions in their free-cash-flow presentation.”

AT&T said Thursday that various trends contributed to the lowered forecast, including slower customer payment times and higher-than-expected cash expenses related to its own device purchases from suppliers.

“It’s startling that the stock would sell off this steeply on working capital, but management is largely to blame,” Piecyk wrote. “Free-cash-flow guidance should not be this complex and investors shouldn’t include ephemeral working capital benefits in their calculations.”

Elsewhere, however, he saw positives in the report. AT&T’s free-cash-flow metric is important to investors because the company pays a large dividend, but Piecyk doesn’t think that the company will need to cut its dividend any more.

“Its core business is performing well and the 5G capex cycle should be winding down,” he wrote. “In 2023, we believe AT&T can generate over $12 billion of free-cash flow. The full-year benefit of the dividend cut means that $12 billion covers ~$8.2 billion of expected dividend payments,” before taking into account working-capital impacts or about $3 billion in anticipated DirecTV distributions.

Piecyk also had an upbeat view on the company’s wireless performance, especially in light of investor debate about the company’s pricing and promotional strategies.

“The increased pricing on its rate plans did not spike churn and helped deliver post-paid phone ARPU [average revenue per user] growth for the first time in over two years,” he wrote. “This also sends a signal to the wireless industry that there is pricing power in this market.”

Piecyk sees additional room for the company to grow ARPU as the year progresses.

He acknowledged that “[i]nvestors are understandably concerned that AT&T is buying revenue growth with handset subsidies to both new and existing subscribers” but noted that the company was able to grow wireless earnings before interest, taxes, depreciation, and amortization (Ebitda) in the latest quarter. In addition, the company’s upgrade rate fell relative to a year earlier, suggesting that the upgrade cycle is stretching out.

While AT&T is feeling some pain in its business wireline business, Piecyk was impressed by the performance of the company’s fiber business, with net adds up 25% relative to a year before. “This further validates our industry assumptions of target market share for fiber overbuilders and the increased share that can be obtained in legacy markets,” he wrote.

Overall, Piecyk sees opportunities for AT&T moving forward, especially given what the latest numbers indicated about pricing actions. “We continue to believe wireless operators can increase price and cut costs,” he wrote, including through a potential curtailing of device subsidies.

Piecyk rates the stock a buy with a $26 target price.

Read original article here

Technology

7 Ways Uncanny AT&T ‘You Will’ Ad Predicted the Future

Leave a comment

Screenshot: Lucas Ropek/YouTube

In 1993, telecom giant AT&T launched an advertising campaign that somehow predicted quite a lot of aspects of how we work and live today. The “You Will” ad series, directed by now-famed thrill-master David Fincher, was an eerily accurate look at what life in the mid to late 2000s would look like. The ads, narrated by former Magnum P.I. star and professional mustache-haver Tom Selleck, imagined a series of scenarios involving gadgets and technology that didn’t yet exist.

“Have you ever done *insert thing we all do now*? Well, you will!” Selleck would say at the beginning of each ad. “And the company that will bring it to you? AT&T,” he added, at the end of each commercial. The campaign foretold a number of technological advances that would define the decades to come like tablets, smart TVs, remote work, smart watches, and smart home devices.

The central prediction of the ad was wrong, though. As Vox noted a couple years ago, while these ads were “remarkably accurate in predicting the cutting-edge technologies” that would soon arrive, they ultimately missed the fact that the company to “bring it to you” was not AT&T. Instead, it would be a whole bunch of startups that didn’t exist at the time, the publication noted.

That said, it’s uncanny to run down all of the things that “You Will” got right about the future.

Read original article here

Business

How AT&T May Become a Winner in the Streaming Wars

Leave a comment

After a topsy-turvy week, the thought occurred to me during AT&T’s investor call on Thursday: What if John Stankey wound up on the winning side of the streaming wars?

Netflix took a nosedive on Tuesday with an earnings report that proved that it could not suspend the law of gravity forever. The steady upward climb of Netflix subscriber gains had to stop sometime, and that sometime was Q1 2022.

The jolt that the news of six-figure losses in Q1 and a projected seven-figure loss for Q2 packed a wallop on Netflix stock price. It also dealt a blow to the Hollywood psyche about the long-term promise of streaming, reminiscent of how the earth quaked in August 2015 when then-Disney CEO Bob Iger acknowledged that even the mighty ESPN had faced “some subscriber losses.”

That became the moment that Hollywood begrudgingly had to acknowledge that cord-cutting was a real threat. Will Netflix’s big miss become enshrined eventually as the moment the content bubble burst? Only time and content spend disclosures will tell.

The sense of relief in the AT&T CEO’s voice came in crystal clear even through the tinny webcast audio. The telco giant is glad to be seeing WarnerMedia in the rear-view mirror after closing the spinoff transaction with Discovery on April 8.

AT&T’s Q1 results message to Wall Street analysts took inspiration from the Shakers: ‘Tis a gift to be simple.

Stankey and AT&T chief financial officer Pascal Desroches used the words “simple” and “simplified” no less than eight times during the 70-minute call to describe the new-and-improved AT&T balance sheet. The company’s new growth focus even comes with handy built-in alliteration: 5G and fiber.

It’s not hard to understand why Stankey sounded happy to be talking about its direct stewardship of Warner Bros., HBO and the Turner networks in the past tense. With the streaming wars now being synonymous with the spending wars, AT&T has just offloaded $55 billion in debt and a metric ton of competitive pressures and headwinds in media and entertainment. And it got a boatload of cash in return, plus a majority of the equity in the successor company.

The responsibility for funding HBO Max’s growth is now off of AT&T’s books (mostly). If David Zaslav, Warner Bros. Discovery’s intrepid new leader, manages to make the enlarged company work on a global scale, upside will flow to AT&T shareholders. And if not, Stankey, who is nothing if not an experienced dealmaker, made the best of a bad situation to help mitigate the pain for AT&T shareholders after the telco’s wild ride in media.

“With the completion of the WarnerMedia transaction, AT&T received $40.4 billion in cash and WarnerMedia’s retention of certain existing debt. Additionally, AT&T shareholders received 1.7 billion shares of Warner Bros. Discovery, representing 71% of the new company,” Stankey intoned. “This transaction greatly strengthens our balance sheet and provides us with financial flexibility going forward. We now have a simplified capital allocation framework.”

Surely, AT&T created a smoking crater in its balance sheet with ill-timed purchases of DirecTV (for $48 billion) in 2015 and Time Warner (for $84.5 billion) in 2018. There’s no totaling the lost opportunity costs for both sides of the AT&T/TW merger for the more than five years of unhappy marriage that began with the initial acquisition agreement in October 2016. (The final pricetag for AT&T also has to include the untold millions it spent to prevail against the Justice Department’s quixotic antitrust lawsuit.)

On Thursday, Stankey presided over the disclosure of HBO Max’s subscriber figures for the last time — and they were credible with a 3 million gain over Q4 reaching a 76.8 million total worldwide. Hours after he spoke, David Zaslav, the new leader of Warner Bros. Discovery, pulled the plug on niche streamer CNN+ less than 30 days after it was launched in the waning weeks of the previous WarnerMedia regime’s tenure. Chalk it up to merger mania.

HBO Max’s numbers looked downright strong compared to Netflix’s slump. So why did the AT&T chief sound even happier to be talking in granular terms regarding AT&T’s standing in telco and wireless “flow share” and the like? The answer seems pretty simple.

optional screen reader



Read original article here

Business

American Airlines, Blackstone, AT&T and more

Leave a comment

Check out the companies making headlines before the bell:

American Airlines (AAL) – American soared 10.5% in premarket trading after reporting a smaller-than-expected loss and predicting profitability for the current quarter.

United Airlines (UAL) – United lost an adjusted $4.24 per share for the first quarter, 2 cents more than expected, and the airline’s revenue was also slightly below forecasts. However, United said it expects a return to profitability this quarter as travel demand surges, and the stock rallied 8.3% in the premarket.

Blackstone (BX) – The private equity firm’s shares jumped 4% in the premarket after reporting better-than-expected profit and revenue for the first quarter, helped by strong results from its real estate and credit operations.

AT&T (T) – AT&T earned an adjusted 63 cents per share for the first quarter, 4 cents above estimates, and beat on the top line as well. Those numbers exclude the results of the now spun-off WarnerMedia unit, with AT&T benefiting from an increase in wireless revenue. AT&T added 1.4% in premarket action.

Tesla (TSLA) – Tesla surged 7.4% in premarket trading after reporting record quarterly profit and beating Wall Street’s top and bottom-line estimates. Tesla cautioned that production would be constrained for the remainder of the year due to shortages of computer chips and other parts, but it expects to increase deliveries.

Xerox (XRX) – Xerox tumbled 7.3% in the premarket after reporting an adjusted quarterly profit of 12 cents per share, 1 cent below consensus. The office equipment maker was hurt by inflation pressures and supply chain issues.

Dow Inc. (DOW) – The chemical maker’s stock added 2.1% in the premarket after beating estimates on both the top and bottom lines, helped by strong demand and higher prices.

Sleep Number (SNBR) – Sleep Number shares tanked 10.6% in premarket trading following a top and bottom-line miss for its latest quarter. The mattress company earned 9 cents per share, well short of the 33-cent consensus estimate, with supply chain issues impacting its results.

Carvana (CVNA) – Carvana lost $2.89 per share for its latest quarter, wider than the $1.44-per-share loss analysts were anticipating. Revenue beat estimates, but the online auto seller saw its first-ever quarterly sales decline. Carvana fell 5.1% in the premarket.

Lam Research (LRCX) – Lam Research fell 11 cents short of estimates with adjusted quarterly earnings of $7.40 per share, and the chipmaker’s revenue also fell short of Wall Street forecasts. Lam’s expenses increased as it spent more to deal with supply chain disruptions. Lam lost 1.3% in the premarket.

CSX (CSX) – CSX beat estimates by 2 cents with quarterly earnings of 39 cents per share, and the railroad operator’s revenue also topped forecasts. CSX handled fewer shipments, but that was more than offset by an increase in shipping rates. CSX rose 2.1% in premarket trading.

Read original article here

Business

Here is what AT&T is giving investors in WarnerMedia spinoff, and how it will work

Leave a comment

AT&T Inc. detailed its plans for the spinoff of WarnerMedia on Friday, with investors eventually expected to receive a share of the new streaming-media entity for every four AT&T shares they own.

AT&T
T,
+2.19%
is in the process of spinning off its WarnerMedia business in a combination with Discovery Inc.
DISCA,
+0.85%,
which executives have said would allow AT&T to refocus attention on core telecommunications efforts. The company expects the deal to close in April, and executives declared plans for a stock dividend to its investors for April 5 at the close of business.

AT&T explained in a Friday release that those who own AT&T shares as of the end of trading April 5 will be able to receive shares of WarnerMedia SpinCo representing 100% of AT&T’s interest in the business. After the transaction closes, expected sometime in April, investors will receive an estimated 0.24 shares of the newly created WarnerBros. Discovery for each share of AT&T they own.

See also: AT&T issues new guidance as WarnerMedia spin draws nearer

The shares created represent about 71% of WarnerBros. Discovery, which will trade under the ticker symbol “WBD” after the spinoff completes. Shareholders “do not need to take any action” as the SpinCo shares will be automatically exchanged on the date the transaction closes, the company reported.

The potential period between the stock dividend and the closing of the deal could create confusion for anyone who wants to buy or sell the stock. The company noted that between April 4, the trading day before the record date for its spinoff distribution, and the closing of the combination with Discovery, there will be two markets for AT&T’s common stock on the New York Stock Exchange.

Those who choose to sell a share of AT&T’s common stock through the “regular way” market will sell both the AT&T share and the right to receive WarnerBros. Discovery shares through the transaction. Those who participate in the “ex-distribution” market will be selling AT&T’s stock while keeping the right to receive WarnerBros. Discovery shares.

Additionally, in the two-way trading window, those who wish to keep AT&T shares while selling the right to receive WarnerBros. Discovery can use a temporary when-issued option that will be available on the Nasdaq.

While AT&T shareholders will still own the same number of AT&T shares after the transaction close that they did just before the transaction close, the company’s stock price is expected to adjust after the deal is complete, reflecting the spinoff.

AT&T’s board of directors also declared a second-quarter dividend of 27.75 cents a share, the first quarterly dividend under a reduced annual payout that executives outlined last month. The dividend will be payable on May 2 for shareholders of record as of April 14.

Read original article here

Business

AT&T is shutting down its 3G network. Here’s how it could impact you

Leave a comment

AT&T is set to pull the plug on its 3G network Tuesday, with other major US carriers expected to follow suit later this year. The move impacts everything from older phones to home alarm systems and roadside assistance systems.

To move its mobile customers over to 4G without service interruptions, AT&T (T), which owns CNN’s parent company, has been providing free replacement phones to many users with a 3G device. It has also been attempting to alert customers to the network changes through various methods.

“For nearly two years, we’ve proactively sent numerous communications via direct mail, bill messaging, emails and text messages to help customers transition to next generation networks before 3G services end on February 22,” AT&T told CNN Business in a statement.

AT&T is shutting down its 3G networks as part of a greater effort to re-use the spectrum for 4G and 5G — newer standards that are more efficient than 3G. T-Mobile (TMUS) will do the same in the third quarter and Verizon (VZ) will do so by the end of the year.

Here’s what you should know about the 3G shutdown.

What products will be impacted?

The shutdown will impact people still using 3G Kindles, 3G flip phones, the iPhone 5 and older models as well as various Android phones. It will also affect home alarm systems and medical devices such as fall detectors. Some in-car crash notification and roadside assistance systems like OnStar will need to be updated or replaced, too.
If you’re not sure which network your phone is on, open Settings, tap Network and Internet, and then select Mobile Network on Android devices. On iOS, choose Settings, Cellular and then pick Cellular Data Options. AT&T also has a dedicated webpage to determine if your device will be impacted by the shut down.

It can be harder to tell with other everyday products. If you’re not sure whether the device relies on 3G, you can call the manufacturer or car dealer.

What can I do about it?

For those who don’t want to get rid of their 3G mobile devices, there are some workarounds. In theory, it will be possible to access a web browser via Wi-Fi or make calls over wireless on a 3G phone if the user has an app enabling voice-over-internet protocol, such as Facebook Messenger. Similarly, people with a 3G e-reader will still be able to download new books on the device via Wi-Fi.

Other 3G products may be more complicated. My Alarm Center, a home security systems business, has warned customers that certain alarm systems will need to be replaced by a technician to avoid potential disruptions. “Even if your alarm appears to function, it will no longer communicate with our central service station to notify us that emergency services are needed,” the company states on its website.
General Motors (GM), which owns OnStar, started pushing over-the-air updates in October to vehicles released as far back as 2015, including models from Chevrolet, Buick and Cadillac, which may be impacted by the transition. As a general rule, most cars built in the last five years with connectivity are using 4G modems. If the car does run on 3G, the manufacturer may offer an upgrade program or the wireless carrier can provide an adapter with a modem that can be plugged into a vehicle.

Why is this happening?

The 3G network launched in 2002 and became the driving force behind the early App Store boom around the end of that decade. The wireless companies later moved on to 4G and more recently 5G networks.

Last month, AT&T and Verizon turned on C-band 5G networks, an important set of higher radio frequencies that will supercharge the internet. The change will allow users to, for example, stream a Netflix movie in 4K resolution or download a movie in seconds. (Verizon said its C-band speeds reach nearly 1 gigabyte per second, about 10 times as fast as 4G LTE.)

Only a small portion of wireless customers are still using 3G networks. Verizon said in a blog post that 99% of its customers have already upgraded to 4G LTE or 5G, and AT&T said less than 1% of its mobile data traffic runs on 3G networks. T-Mobile did not respond to a request for comment about its 3G user base.

Read original article here

Entertainment

‘Matrix’ Co-Producer Sues Warner Bros. Over HBO Max Streaming Release

Leave a comment

“The Matrix Resurrections” co-producer Village Roadshow Entertainment Group filed a lawsuit against Warner Bros., alleging the studio parent’s decision to release the movie simultaneously on HBO Max and in theaters was a breach of contract.

The suit, which was filed in Los Angeles Superior Court on Monday, is the latest indication of growing tensions between factions of the entertainment industry as major media companies give priority to direct-to-consumer streaming over traditional distribution platforms.

Warner Bros. parent WarnerMedia, a unit of

AT&T Inc.,

T -0.19%

put its entire 2021 slate of movies on its sister streaming service HBO Max at the same time as their theatrical release. The studio also moved the release date of “The Matrix Resurrections” to 2021 from 2022 in an effort to help HBO Max attract more subscribers, the lawsuit alleged.

“WB’s sole purpose in moving the release date of ‘The Matrix Resurrections’ forward was to create a desperately needed wave of year-end HBO Max premium subscriptions from what it knew would be a blockbuster film, despite knowing full well that it would decimate the film’s box office revenue and deprive Village Roadshow of any economic upside that WB and its affiliates would enjoy,” the suit said.

“The Matrix Resurrections” performed disappointingly at the box office, garnering only a fraction of the revenue generated by its predecessors.

Other films released during the pandemic performed well at the box office, including “Spider-Man: No Way Home,” which unlike “The Matrix Resurrections” wasn’t released on a streaming platform when it came out in theaters, the lawsuit said.

Keanu Reeves and Carrie-Anne Moss in the latest ‘Matrix’ movie.



Photo:

Warner Bros./Everett Collection

Moves by major media companies to give priority to their streaming services over other platforms have potentially significant financial implications for actors, producers and financial partners who fear that the push to streaming will come at their expense.

In July, actress Scarlett Johansson filed a lawsuit against

Walt Disney Co.

, alleging her contract to star in the Marvel movie “Black Widow” was breached when the media giant released the movie on its streaming service Disney+ at the same time as its theatrical launch.

Ms. Johansson, who argued her box office-based performance bonus was hurt by the Disney+ move, was seeking as much as $80 million in damages. Disney, which denied it violated her agreement, settled with Ms. Johansson in September.

In Monday’s lawsuit, Village Roadshow also alleges that Warner Bros. is attempting to cut the company out of future movies and TV shows based on characters or intellectual property that it has ownership stakes in. Village Roadshow said it has invested $4.5 billion in its more-than-two-decade partnership and co-financed many Warner Bros. hits including “Joker,” “American Sniper” and the “Matrix” franchise.

“WB has also been devising various schemes to deprive Village Roadshow of its continuing rights to co-own and co-invest in the derivative works from the films it co-owns,” the suit alleged.

In response to the lawsuit, a spokeswoman for Warner Bros. said: “This is a frivolous attempt by Village Roadshow to avoid their contractual commitment to participate in the arbitration that we commenced against them last week. We have no doubt that this case will be resolved in our favor.”

The partnership between the two companies does contain an arbitration clause to resolve disputes, but Village Roadshow said in the suit that it doesn’t apply in this case.

“Instead, the parties’ contracts expressly allow Village Roadshow to bring any action for injunctive or non-monetary relief in this Court, as they agreed that the arbitration agreement `shall not prevent any party from seeking injunctive relief and other forms of non-monetary relief in the state or federal courts located in Los Angeles County, California,’” the suit said.

The suit comes just weeks before AT&T is expected to close on its deal to combine the WarnerMedia assets with

Discovery Inc.

and create a new company dubbed Warner Bros. Discovery.

Village Roadshow has also been exploring strategic options including taking on investments or even selling itself, The Wall Street Journal previously reported.

Bradley Cooper starred in the 2014 movie ‘American Sniper,’ which Village Roadshow co-financed.



Photo:

Warner Bros./Everett Collection

When Warner Bros. unveiled its strategy to put its 2021 movie slate on HBO Max and in theaters, it said it was doing so both to boost the new streaming service and as a counterbalance the effects the Covid-19 pandemic had on the theatrical industry.

The studio earned the wrath of Hollywood producers and stars by not alerting them to the decision in advance. Many feared they would be shortchanged by the move and were openly critical of the studio.

Warner Bros. ended up cutting new deals with much of the talent involved in its 2021 slate, which cost the studio more than $200 million, the Journal previously reported.

No deal regarding “The Matrix Resurrections” was reached, and Village Roadshow said in its suit that not only was the box office for the movie cannibalized but that it was also a victim of “rampant piracy” that Warner Bros. “knew would come by distributing this marquee picture on a streaming platform on the same day as its theatrical release.”

Piracy has been on the rise since more films have been released on streaming platforms, according to firms that track such data. Theater owners have also been vocal about their concerns of increased piracy due to the streaming first strategy.

The issue over the release of “The Matrix Resurrections,” isn’t the only significant crack in Village Roadshow’s 25-year partnership with Warner Bros. It also claimed Warner Bros. is violating Village Roadshow’s rights to participate in projects derived from movies it co-produced.

Village Roadshow co-financed the 2019 film ‘Joker,’ starring Joaquin Phoenix.



Photo:

Niko Tavernise/Warner Bros./Everett Collection

Village Roadshow said Warner Bros. tried to force it to give up its rights in a TV series based on the movie “Edge of Tomorrow,” which it co-financed and co-produced.

“When Village Roadshow refused, WB said the quiet part out loud: it will not allow Village Roadshow to benefit from any of its Derivative Rights going forward, despite the over $4.5 billion it has paid WB to make and distribute 91 films. In other words, if Village Roadshow won’t give up its rights, WB will make sure they are worth nothing,” the suit said.

“Warner Bros. has a fiduciary duty to account to Village Roadshow for all earnings from the exploitation of the films’ copyrights, not just those it can’t hide through sweetheart deals to benefit HBO Max,” said Mark Holscher, a Kirkland & Ellis litigation partner who represents Village Roadshow.

Village Roadshow also said under its agreement with Warner Bros. it should have the option to partner in “Wonka,” a prequel to “Charlie and the Chocolate Factory” that it co-produced.

Write to Joe Flint at joe.flint@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Read original article here

Sports

2022 AT&T Pebble Beach Pro-Am leaderboard, grades: Tom Hoge wins as Jordan Spieth fades down the stretch

Leave a comment

In the end, Tom Hoge rolled. The 2022 AT&T Pebble Beach Pro-Am champion shot a closing 68 on Sunday to beat three-time major winner Jordan Spieth by two strokes and win his first professional golf event since 2011.

Hoge emerged from a pack that saw Spieth at the top of it for most of the day. After making double at the fifth hole and going out in a pedestrian 36, he didn’t make a mistake on the second nine, shot 32 and ran down somebody who looked like he was going to cruise to his second title in the last six years on this course.

Hoge’s iron play on the second nine was brilliant. The apex was a 141-yard approach on No. 16 to 9 inches, but he found all nine greens in regulation and hit seven of those approaches inside 20 feet. He gained 2.3 strokes on approach shots on those nine holes alone, and of course he buried one of the two approaches he hit outside 20 feet.

That one came on a 22-foot birdie at the par-3 17th hole, which Spieth had just bogeyed in front of him. Buoyed by a one-stroke lead, Hoge made it two with this monster putt and strode to the closing hole which he parred for the victory.

Winning in professional golf is an extremely difficult thing to do. We say it all the time, but I’m not sure we can possibly say it enough. After his win at the Canadian Tour Players Cup in his second OWGR start in 2011, Hoge lost his next 285 starts before Sunday at Pebble. More recently, though, the trend had been good. Two top fives in his last four starts, including a solo second at the American Express a few weeks ago.

A career grinder, Hoge just cashed in one of his best opportunities — beating Spieth to get his first-ever PGA Tour victory and an invite to the Masters in April. The trajectory of his career looks consistent and solid, but what he did on Sunday at Pebble, with Spieth staring him down, is a lot more difficult than he made it look. Grade: A+

Here are the rest of our grades for the 2022 AT&T Pebble Beach Pro-Am.

Jordan Spieth (2nd): This week was the perfect representation of Spieth’s golf as well as his career. He’ll take you all over the yard, and often right up next to the abyss (often metaphorically, sometimes literally). And then by sleight of hand, he’ll cover the canyon and show you the sea. He’s golf’s most heart-stopping showman, and 132 strokes at Pebble Beach this weekend that included one harrowing one over a 70-foot drop, was the perfect representation of this reality. Regardless of how it ended, I have optimism for the rest of his spring, especially since he came into the week struggling with his iron play and proceeded to flush nearly everything he looked at. Grade: A

Patrick Cantlay (T4): It’s hard to express disappointment in Cantlay given that this was his sixth consecutive top-11 finish, but it did feel a bit reminiscent of last year when Daniel Berger won and Cantlay couldn’t seal the deal. He shot 71 this year (and 68 last year), and I’m not real worried about his relative mediocrity from tee to green on Sunday. I’m more concerned that he start to play his way into contention at big-time events like the Players and various majors just like he’s been doing at regular PGA Tour events for the last eight months. Grade: A-

Joel Dahmen (T6): Among the players on the leaderboard on Sunday, you could make the case that Dahmen was the most compelling winning story. After winning last year for the first time on the PGA Tour in an opposite-field event (and the first time anywhere since 2014), this would have been a windfall. He faded after three early birdies on Sunday, but with two missed cuts coming into this week, he should be encouraged about the rest of 2022. He’s a solid player, but we underrate how meaningful top 10s are to golfers like him. He has just eight of them worldwide since the start of 2020. Grade: A

Seamus Power (T9): The Irishman led by five after 36 holes before it all fell apart for him. His disastrous weekend started on Saturday at Monterey Peninsula, which played as the easiest course in the three-course rota. He shot 74 on a course that played to an average of under 71. He then went out in 38 on Sunday at Pebble but came home in 34 to finish even on the day and T9 for the event. It was still his fifth straight top 20, but given where he was on Friday evening (commandingly in first place), it has to feel like a disappointment. Grade: B

Jason Day (T24): Of all the big names coming into the final round, I thought Day was probably the most disappointing. He could only muster a 74 over the final 18, and he was negative from tee to green and on approach shots over 36 measured holes at Pebble. I’m excited about what Day’s year could be, but this was a moment for him to step into a void left by the top players exiting this tournament, and he didn’t do it. I’m also less confident than he is about how many wins he could feasibly accumulate for the rest of 2022. Grade: B-

require.config({"baseUrl":"https://sportsfly.cbsistatic.com/fly-0155/bundles/sportsmediajs/js-build","config":{"version":{"fly/components/accordion":"1.0","fly/components/alert":"1.0","fly/components/base":"1.0","fly/components/carousel":"1.0","fly/components/dropdown":"1.0","fly/components/fixate":"1.0","fly/components/form-validate":"1.0","fly/components/image-gallery":"1.0","fly/components/iframe-messenger":"1.0","fly/components/load-more":"1.0","fly/components/load-more-article":"1.0","fly/components/load-more-scroll":"1.0","fly/components/loading":"1.0","fly/components/modal":"1.0","fly/components/modal-iframe":"1.0","fly/components/network-bar":"1.0","fly/components/poll":"1.0","fly/components/search-player":"1.0","fly/components/social-button":"1.0","fly/components/social-counts":"1.0","fly/components/social-links":"1.0","fly/components/tabs":"1.0","fly/components/video":"1.0","fly/libs/easy-xdm":"2.4.17.1","fly/libs/jquery.cookie":"1.2","fly/libs/jquery.throttle-debounce":"1.1","fly/libs/jquery.widget":"1.9.2","fly/libs/omniture.s-code":"1.0","fly/utils/jquery-mobile-init":"1.0","fly/libs/jquery.mobile":"1.3.2","fly/libs/backbone":"1.0.0","fly/libs/underscore":"1.5.1","fly/libs/jquery.easing":"1.3","fly/managers/ad":"2.0","fly/managers/components":"1.0","fly/managers/cookie":"1.0","fly/managers/debug":"1.0","fly/managers/geo":"1.0","fly/managers/gpt":"4.3","fly/managers/history":"2.0","fly/managers/madison":"1.0","fly/managers/social-authentication":"1.0","fly/utils/data-prefix":"1.0","fly/utils/data-selector":"1.0","fly/utils/function-natives":"1.0","fly/utils/guid":"1.0","fly/utils/log":"1.0","fly/utils/object-helper":"1.0","fly/utils/string-helper":"1.0","fly/utils/string-vars":"1.0","fly/utils/url-helper":"1.0","libs/jshashtable":"2.1","libs/select2":"3.5.1","libs/jsonp":"2.4.0","libs/jquery/mobile":"1.4.5","libs/modernizr.custom":"2.6.2","libs/velocity":"1.2.2","libs/dataTables":"1.10.6","libs/dataTables.fixedColumns":"3.0.4","libs/dataTables.fixedHeader":"2.1.2","libs/dateformat":"1.0.3","libs/waypoints/infinite":"3.1.1","libs/waypoints/inview":"3.1.1","libs/waypoints/jquery.waypoints":"3.1.1","libs/waypoints/sticky":"3.1.1","libs/jquery/dotdotdot":"1.6.1","libs/jquery/flexslider":"2.1","libs/jquery/lazyload":"1.9.3","libs/jquery/maskedinput":"1.3.1","libs/jquery/marquee":"1.3.1","libs/jquery/numberformatter":"1.2.3","libs/jquery/placeholder":"0.2.4","libs/jquery/scrollbar":"0.1.6","libs/jquery/tablesorter":"2.0.5","libs/jquery/touchswipe":"1.6.18","libs/jquery/ui/jquery.ui.core":"1.11.4","libs/jquery/ui/jquery.ui.draggable":"1.11.4","libs/jquery/ui/jquery.ui.mouse":"1.11.4","libs/jquery/ui/jquery.ui.position":"1.11.4","libs/jquery/ui/jquery.ui.slider":"1.11.4","libs/jquery/ui/jquery.ui.sortable":"1.11.4","libs/jquery/ui/jquery.ui.touch-punch":"0.2.3","libs/jquery/ui/jquery.ui.autocomplete":"1.11.4","libs/jquery/ui/jquery.ui.accordion":"1.11.4","libs/jquery/ui/jquery.ui.tabs":"1.11.4","libs/jquery/ui/jquery.ui.menu":"1.11.4","libs/jquery/ui/jquery.ui.dialog":"1.11.4","libs/jquery/ui/jquery.ui.resizable":"1.11.4","libs/jquery/ui/jquery.ui.button":"1.11.4","libs/jquery/ui/jquery.ui.tooltip":"1.11.4","libs/jquery/ui/jquery.ui.effects":"1.11.4","libs/jquery/ui/jquery.ui.datepicker":"1.11.4"}},"shim":{"liveconnection/managers/connection":{"deps":["liveconnection/libs/sockjs-0.3.4"]},"liveconnection/libs/sockjs-0.3.4":{"exports":"SockJS"},"libs/setValueFromArray":{"exports":"set"},"libs/getValueFromArray":{"exports":"get"},"fly/libs/jquery.mobile-1.3.2":["version!fly/utils/jquery-mobile-init"],"libs/backbone.marionette":{"deps":["jquery","version!fly/libs/underscore","version!fly/libs/backbone"],"exports":"Marionette"},"fly/libs/underscore-1.5.1":{"exports":"_"},"fly/libs/backbone-1.0.0":{"deps":["version!fly/libs/underscore","jquery"],"exports":"Backbone"},"libs/jquery/ui/jquery.ui.tabs-1.11.4":["jquery","version!libs/jquery/ui/jquery.ui.core","version!fly/libs/jquery.widget"],"libs/jquery/flexslider-2.1":["jquery"],"libs/dataTables.fixedColumns-3.0.4":["jquery","version!libs/dataTables"],"libs/dataTables.fixedHeader-2.1.2":["jquery","version!libs/dataTables"],"https://sports.cbsimg.net/js/CBSi/app/VideoPlayer/AdobePass-min.js":["https://sports.cbsimg.net/js/CBSi/util/Utils-min.js"]},"map":{"*":{"adobe-pass":"https://sports.cbsimg.net/js/CBSi/app/VideoPlayer/AdobePass-min.js","facebook":"https://connect.facebook.net/en_US/sdk.js","facebook-debug":"https://connect.facebook.net/en_US/all/debug.js","google":"https://apis.google.com/js/plusone.js","google-platform":"https://apis.google.com/js/client:platform.js","google-csa":"https://www.google.com/adsense/search/async-ads.js","google-javascript-api":"https://www.google.com/jsapi","google-client-api":"https://apis.google.com/js/api:client.js","gpt":"https://securepubads.g.doubleclick.net/tag/js/gpt.js","hlsjs":"https://cdnjs.cloudflare.com/ajax/libs/hls.js/1.0.7/hls.js","newsroom":"https://c2.taboola.com/nr/cbsinteractive-cbssports/newsroom.js","recaptcha":"https://www.google.com/recaptcha/api.js?onload=loadRecaptcha&render=explicit","recaptcha_ajax":"https://www.google.com/recaptcha/api/js/recaptcha_ajax.js","supreme-golf":"https://sgapps-staging.supremegolf.com/search/assets/js/bundle.js","taboola":"https://cdn.taboola.com/libtrc/cbsinteractive-cbssports/loader.js","twitter":"https://platform.twitter.com/widgets.js","video-avia":"https://vidtech.cbsinteractive.com/avia-js/1.9.0/player/avia.min.js","video-avia-ui":"https://vidtech.cbsinteractive.com/avia-js/1.9.0/plugins/ui/avia.ui.min.js","video-avia-gam":"https://vidtech.cbsinteractive.com/avia-js/1.9.0/plugins/gam/avia.gam.min.js","video-ima3":"https://imasdk.googleapis.com/js/sdkloader/ima3.js","video-ima3-dai":"https://imasdk.googleapis.com/js/sdkloader/ima3_dai.js","video-utils":"https://sports.cbsimg.net/js/CBSi/util/Utils-min.js","video-vast-tracking":"https://vidtech.cbsinteractive.com/sb55/vast-js/vtg-vast-client.js"}},"waitSeconds":300});



Read original article here

Technology

Samsung’s promotional teasers for the Galaxy S22, Galaxy S22+ and Galaxy S22 Ultra inadvertently start a few days early in the US

Leave a comment

, , , , , ,

search relation.

, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

 

Read original article here

Technology

Google Stadia May Not Be Long for This World

Leave a comment

The Stadia controller that could become a collector’s item someday with the way things are going.
Photo: Joanna Nelius / Gizmodo

Stadia may not have blossomed into the cloud gaming service that Google had hoped, but the technology behind it may live on by powering other services.

Google Stadia was supposed to be a gamer’s dream: You could play games on any device without experiencing lag thanks to the power of Google’s cloud. But after several hiccups, Google is shifting the focus of its Stadia division to a new back-end service called Google Stream, according to Insider. The company has been working on securing deals with partners like Capcom and Bungie, both of which Google pitched on its cloud technology to run their games within the browser. (With Sony buying Bungie, that may now be off the table.)

Google is also apparently courting Peloton, which has had its share of recent troubles and could probably use a marketable partnership to take the pressure off its dwindling bike sales. Peloton is reportedly working on a game for its bikes called Lanebreak, which uses Google’s cloud services as the backend. The Peloton bikes also run a version of Google’s Android OS.

In a statement, Google spokesperson Patrick Seybold told Insider: “We announced our intentions of helping publishers and partners deliver games directly to gamers last year, and have been working toward that.” Seybold added that while Google wouldn’t comment on rumors and speculation, it is “still focused on bringing great games to Stadia in 2022.”

Technically, Stadia isn’t dead. You can still log on, pay for a monthly subscription or buy an entire game outright, and start playing with a PlayStation, Xbox, or Stadia controller and a supported Android device or Chromecast Ultra. But there is no longer a Google-led team of game developers since the company shuttered its Stadia Games and Entertainment internal game studios last February.

Google has at least one deal with AT&T in the works similar to what it pitched to Bungie and Capcom, though it doesn’t use Google Stream branding. AT&T customers can stream the game Batman: Arkham Knight directly through their web browser, which uses Google’s technology on the backend.

Google is clearly trying to salvage what is left of Stadia by embedding its technology into existing products and platforms instead of pursuing consumers directly. Former and current Google employees told Insider they’d estimated only 20% of Stadia’s business is consumer-related. The other bulk is focused on “proof-of-concept work for Google Stream” and the types of deals mentioned above.

After the Insider report broke, Google tweeted out a statement to Stadia followers:

While this news is likely to bum out Stadia subscribers, it’s not entirely surprising that Google would head in this direction. Its cloud is where it makes a bulk of its money and where it’s putting a ton of resources. The company’s Q4 2021 earnings put Google’s cloud revenue growth at 45%, though it also lost $890 million.

Regardless of the new direction of Google Stream, there are still some Stadia employees holding out hope on the inside. “There are plenty of people internally who would love to keep it going,” an anonymous Google employee told Insider. “But they’re not the ones writing the checks.”

Read original article here