Walt Disney Expects 90 Million Subscribers on Disney+

迪士尼预计五年内Disney+订户将达到9000万

—in five years. Disney+ launches in the U.S. today. Disney is in the process of reinventing itself around streaming. It has a massive movie and TV library and huge resources for creating new ones. And it wants to deliver that content directly to the consumer.

Disney+今日（11月12日）在美国上线。迪士尼(Walt Disney, DIS)正在以流媒体服务为重心重塑自身。该公司拥有庞大的电影和电视资料库以及用于创造新电影和电视的大量资源，而且希望能够让消费者直接购买这些内容产品。

But those ambitions won’t come cheap. Disney (ticker: DIS) doesn’t expect Disney+ to turn a profit in the next five years—and that will be dragging on earnings.

但是这些宏大的计划代价很高，该公司预计未来五年Disney+无法盈利，这将给迪士尼的利润造成拖累。

Honeywell Had $4 Billion in Software Sales This Past Year

霍尼韦尔过去一年的软件销售额为40亿美元

Software is a profitable new business for the century-old industrial conglomerate. Honeywell (HON) makes products from airplane engines to electricity meters. Now, it wants to look more like software companies such as Salesforce.com (CRM) or SAP (SAP.Germany).

对于这家拥有百年历史的工业集团而言，软件是一项有利可图的新业务。霍尼韦尔(Honeywell, HON)生产从飞机发动机到电表等一系列工业产品。现在，该公司希望自己看起来更像是一家类似Salesforce.com (CRM)或SAP (SAP.德国）的软件公司。

Honeywell’s software helps clients boost output, cut maintenance costs, and improve reliability. And it delivers faster revenue growth and higher profit margins than the company’s industrial assets. The software opportunity makes Honeywell a recent Barron’s stock pick.

霍尼韦尔的软件可帮助客户提高产量、削减维护成本并提高可靠性。与该公司的工业资产相比，软件业务带来了更快的收入增长和更高的利润率。霍尼韦尔因其软件业务而成为《巴伦》最近推荐的一只股票。

The U.S. Protein Industry Brings in $121 Billion a Year

美国蛋白质产业每年带来1210亿美元收入

—according to The U.S. Department of Agriculture. Protein as in beef, pork, and poultry. Sure, Beyond Meat (BYND) and other alternative meat makers have been getting the attention lately, but the real stuff is still big business.

这是美国农业部最新发布的数据，指的是牛肉、猪肉和家禽所含的蛋白质。当然，Beyond Meat (BYND)和其他人造肉制造商最近已经引起了人们的关注，但真正的肉类仍然是一个大产业。

Large meat processors like Tyson Foods (TSN) and Hormel Foods (HRL) hold the power in the industry. They’ve been growing profit margins by producing more value-added products—like crispy buffalo chicken strips. They’ve also reduced costs through increased mechanization.

泰森食品(Tyson Foods, TSN)和荷美尔食品(Hormel Foods, HRL)等大型肉类加工商在行业中占据主导地位，这些公司通过生产更多的增值产品（例如脆皮水牛肉条）来提高利润率。这些公司还通过提高机械化程度降低了成本。

We’ll hear about Tyson’s latest quarter when the company reports earnings this morning.

泰森食品今日将公布最近一个季度的财报。

翻译 | Anqi

版权声明：

《巴伦》(barronschina) 原创文章，未经许可，不得转载。英文版见2019年11月12日报道“90 Million Potential Disney+ Subscribers, and Two More Numbers to Know”。

（本文内容仅供参考，投资建议不代表《巴伦》倾向；市场有风险，投资须谨慎。）