News Corp Stock Price, News & Analysis

Realtor.com® has released its Top 10 Markets for Renters report, highlighting cities in the South and Midwest as prime destinations for renters. Austin, Texas tops the list, followed by Oklahoma City and Birmingham, Alabama. These markets offer a combination of affordable rental options, economic opportunity, and short commutes.

Key findings include:

• Average rent-to-income ratio of 21.0% in top markets
• Average rental vacancy rate of 8.8%, surpassing national averages
• Average forecasted 2024 unemployment rate of 3.3%
• Average expected commute time of 25 minutes in 2024

The report emphasizes the importance of rental affordability, availability, economic growth, and quality of life factors in determining the best markets for renters.

News Corp (NWS) has announced it will release its fourth quarter and full year Fiscal 2024 results on Thursday, August 8, 2024. CEO Robert Thomson and CFO Susan Panuccio will host a live audio webcast at 5:00 p.m. EDT (7:00 a.m. AEST on August 9 in Sydney) to discuss the results. Investors and interested parties can register for the webcast using the provided link. The earnings release will be available on the company's investor relations website prior to the call, and an archived version of the webcast will be accessible afterwards. A replay of the call will also be made available shortly after its conclusion.

Realtor.com's June Rental Report reveals a 0.4% decline in median asking rent to $1,743, marking the 11th consecutive month of decreases. Despite this trend, rents remain 21.2% ($305) higher than pre-pandemic levels. The South experienced the largest declines, while the Midwest saw increases. Tampa, Florida, led with a 39.5% increase compared to 2019.

Key findings include:

• All unit sizes saw rent declines, with studios falling 1.2% year-over-year
• Half of the top 10 markets with highest rent increases since 2019 are in the South
• Despite recent declines, rents are still significantly higher than pre-pandemic levels in many areas

The report highlights the need for increased rental supply to address affordability concerns and prevent renters from allocating a larger portion of their income to housing costs.

According to Realtor.com's June housing report, the number of homes for sale surged by 36.7% year-over-year. Median days on the market increased to 45 days, indicating a more buyer-friendly environment. Inventory rises were most significant in Tampa (92.7%), Orlando (81.8%), and Phoenix (77.3%). Despite the increase, inventory remains below pre-pandemic levels. The South and West recorded the highest inventory growth at 48.7% and 36.5%, respectively. List prices rose in the Northeast, Midwest, and West, but fell by 1.9% in the South. The typical home took 45 days to sell, two days longer than the previous year.

London Stock Exchange Group (LSEG) and Dow Jones have entered a multi-year partnership to integrate data, news, and analytics across their platforms.

Starting July 2, 2024, LSEG Workspace will feature news from Dow Jones brands, including The Wall Street Journal and MarketWatch, available to premium subscribers at no extra cost.

Dow Jones newsrooms will utilize LSEG's data tools, enhancing The Wall Street Journal's deal coverage with over 40 years of data. LSEG will also serve as a primary data source for the WSJ Investment Banking Scorecard.

This collaboration aims to launch an enhanced news experience within LSEG Workspace by early 2025, with tailored content for enterprise clients.

Dow Jones announced its acquisition of A2i Systems, a leader in AI-powered fuel pricing solutions, on July 2, 2024. A2i will operate as a subsidiary of OPIS within Dow Jones's energy business. The acquisition aims to enhance Dow Jones's AI capabilities, offering advanced predictive technologies and real-time pricing data through A2i's PriceCast platform. This platform is used at over 12,500 fuel sites, EV charging stations, and convenience stores globally. Dow Jones reported revenues of $544 million in its latest earnings, with a 15% growth in its energy business. The acquisition is expected to diversify OPIS's offerings and strengthen its position in the retail sector amid growing market demand for advanced pricing, analysis, and forecasting solutions.

Key executives, including Almar Latour, CEO of Dow Jones, emphasized the acquisition's potential to create immediate value for customers and expand Dow Jones's AI-driven innovations in the energy sector. Brian Crotty, general manager of Dow Jones's energy business, highlighted the strategic importance of the move in capturing the booming EV market. A2i's founder and CEO, Frodi Hammer, expressed confidence in scaling their technology as part of OPIS and the broader Dow Jones organization.

Realtor.com®'s recent survey reveals that 17% of Americans are part of the 'Sandwich Generation'—those who concurrently care for their children and elderly parents or grandparents. About a third of this group has found their caregiving responsibilities beneficial in achieving homeownership, despite the ongoing affordability crisis in the housing market. The survey highlights that over half of the Sandwich Generation receiving family financial support find it helpful in buying a home, while 47% say it assists in saving for retirement. However, nearly half of the respondents report that their caregiving role negatively impacts their finances, with 30% unable to buy a home and another 30% struggling to pay off mortgages. Millennials, who form the largest segment of the Sandwich Generation, are notably divided, with 46% hindered in home buying and 43% benefiting financially from their caregiving roles. The study underscores the significant impact of intergenerational family dynamics on homeownership and retirement savings.

Realtor.com® celebrates the 80th anniversary of the GI Bill by identifying the top 10 U.S. housing markets for military households. The top metro area is Des Moines-West Des Moines, Iowa, followed by Augusta-Richmond County, GA-SC, and Columbia, SC. Key factors include affordability, homeownership rates, and job stability. The GI Bill has helped veterans with home buying, education, and employment opportunities. Realtor.com® advises military homebuyers to work with specialized buyer's agents to maximize their benefits. The company also launched a new initiative to promote buyer's agents for underserved communities, including veterans.

Realtor.com has launched a new initiative to promote the benefits of buyer's agents for underrepresented communities, including BIPOC, AANHPI, LGBTQ+, first-time, Veteran, and lower-income buyers. The campaign aims to educate these groups about the advantages of having a buyer's agent, especially amid rising transaction costs and reduced access to buyer representation which could further limit their ability to purchase homes. The initiative, launched in April, has already seen significant engagement with nearly 40 million impressions and 18,000 downloads of the agent toolkit. Prominent real estate organizations like Zillow and Compass have also shown support. Digital ads and a joint letter from various real estate organizations will further amplify the campaign.