Horizon Global Corp
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Consumer Discretionary : Auto Components | Small Cap BlendCompany profile

Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. Its towing product category includes devices and accessories installed on a tow-vehicle for the purpose of attaching a trailer and camper, among others, such as hitches and other towing accessories. Its trailering product category includes control devices and components of the trailer itself, such as brake controls and brake replacement parts. Its cargo management product category includes a range of products used to facilitate the transportation of various forms of cargo, to secure that cargo or to organize items. Its other product category includes a range of items, such as tubular push bars, side steps, and commercial brooms and brushes.

Closing Price
Day's Change
-0.05 (-2.37%)
B/A Size
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10-day average volume:

UPDATE: Netflix shares edge lower after rival Hulu cuts prices

10:32 am ET January 26, 2019 (MarketWatch)

By Ciara Linnane, MarketWatch

Move comes a week after Netflix raised its prices to help pay for its massive slate of films and TV shows

Netflix Inc. shares fell 1.4% Wednesday, after rival streaming video service Hulu announced price cuts for its monthly service.

Hulu, a joint venture owned by Walt Disney Co. (DIS), 21st Centry Fox Inc. (FOXA), Comcast Corp. (CMCSA) and AT&T Inc. (T), said that from February, it will start charging just $5.99 a month for its basic, ad-supported subscription plan, down from $7.99. The non-ad-supported plan will continue to cost $11.99 a month.

The move comes a week after Netflix (NFLX) raised the price of its U.S. service by 13% to 18% to help cover the costs of its content. The company has been taking on a lot of expensive, high-yield debt to cover the costs of the shows and films it makes itself, growing its long-term debt to about $10.4 billion at end-2018 from $6.5 billion at the start of the year.

It also comes a day after Netflix made history when it garnered 10 nominations for the 91st Academy Awards (http://www.marketwatch.com/story/favourite-and-roma-lead-oscar-noms-with-10-each-2019-01-22) for the Alfonso Cuaron-helmed "Roma," tying for first place with Yorgos Lanthimos' "The Favourite."

Read now:Netflix becomes first streaming service to join MPAA (http://www.marketwatch.com/story/netflix-becomes-first-streaming-service-to-join-mpaa-2019-01-22)

It was the streaming giant's first nomination for Best Picture. Netflix has won many Emmy nominations, but its practice of releasing films on its own platform at the same time as in theaters has irked Hollywood, where the typical release period is 16 and a half weeks, before a film goes to video-on-demand services.

See now:Netflix earnings and subscriber additions beat expectations, but stock falls (http://www.marketwatch.com/story/netflix-earnings-and-subscriber-additions-beat-expectations-but-stock-falls-2019-01-17)

Related:Netflix thinks 'Fortnite' is a bigger competitor than other streaming services (http://www.marketwatch.com/story/netflix-thinks-fortnite-is-a-bigger-competitor-than-hbo-2019-01-17)

That practice had seen Netflix excluded from award eligibility at major film festivals (http://www.marketwatch.com/story/netflix-will-not-compete-at-cannes-film-festival-after-rule-change-2018-04-11), including Cannes. "Roma" had a limited theatrical run in November before it was made available to stream on Netflix.

The film's Oscar backing is a positive, not just for Netflix, for all streaming services, said one expert.

"As global viewership continues to grow, so will investment in content and original programming for streaming," said Bill Demas, chief executive of Conviva, a real-time measurement and analytics platform for streaming TV publishers.

See also: Netflix reportedly set to produce 90 movies a year, with budgets up to $200 million (http://www.marketwatch.com/story/netflix-reportedly-set-to-produce-90-movies-a-year-with-budgets-up-to-200-million-2018-12-16)

"Over the past year Conviva-measured, video-on-demand viewership grew 111%, so it is unsurprising that leaders in streaming like Netflix, Hulu, and others have become serious contenders for the most coveted awards in entertainment," he said.

BTIG analyst Richard Greenfield, a longtime Netflix bull, said Wednesday he is increasingly convinced that Netflix has a model that puts it far ahead of legacy media companies attempting to compete with it.

"Netflix is a rocket hurtling towards Mars, while legacy media companies are bicycles with engineers that only have the ability to make more bicycles. By the time they learn to make cars, let alone rockets, Netflix will be another planet or even solar system away."

Netflix shares have gained 28% in the last 12 months, outperforming the S&P 500 , which is down 7% and the Dow Jones Industrial Average , which has lost 6%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 26, 2019 10:32 ET (15:32 GMT)

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