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July 17, 2014
10:00 EDTENOC, ALGT, TWX, IGT, ENH, AFL, SM, FRC, CLC, KEDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aflac (AFL) upgraded to Outperform from Market Perform at Raymond James... Allegiant Travel (ALGT) upgraded to Buy from Fair Value at CRT Capital... Clarcor (CLC) upgraded to Outperform from Neutral at RW Baird... Endurance Specialty (ENH) upgraded to Buy from Neutral at Janney Capital... EnerNOC (ENOC) upgraded to Strong Buy with $28 target at Needham... First Republic Bank (FRC) upgraded to Strong Buy from Outperform at Raymond James... International Game (IGT) upgraded to Neutral from Sell at Goldman... Kayne Anderson (KED) upgraded to Buy from Hold at Stifel... SM Energy (SM) upgraded to Buy from Neutral at Guggenheim... Time Warner (TWX) upgraded to Buy from Neutral at Guggenheim
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November 25, 2014
06:33 EDTAFLAflac management to meet with Sterne Agee
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06:22 EDTTWXHBO, Tencent sign deal to distribute dramas, movies online in China, WSJ reports
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November 21, 2014
12:22 EDTTWXTurner, DISH restore channel service, extend carriage
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November 20, 2014
10:02 EDTFRCOn The Fly: Analyst Initiation Summary
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07:42 EDTTWXStudios looking abroad for opportunity in TV licensing, WSJ reports
For U.S. television studios, such as Time Warner’s (TWX) Warner Bros., licensing shows abroad, which was once a small side business, has become a much-needed source of growth and is increasingly needed to make shows profitable, reported The Wall Street Journal. In addition to Time Warner, CBS Corp. (CBS), Sony (SNE) and 21st Century Fox (FOXA) also see huge promise from international TV distribution, the report noted. Reference Link
November 19, 2014
17:08 EDTFRCFirst Republic Bank initiated with an Underperform at Sterne Agee
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10:34 EDTIGTOptions with increasing implied volatility
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November 18, 2014
10:13 EDTAFLAflac management to meet with UBS
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05:50 EDTALGTAllegiant Travel price target raised to $160 from $142 at Imperial Capital
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November 17, 2014
09:01 EDTFRCFirst Republic Bank CFO Newton to retire, Roffler to succeed as CFO
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06:33 EDTTWXWarner Bros. wins 'Hobbit' royalties fight against Weinsteins, WSJ reports
Time Warner's Warner Bros. has prevailed over the Weinstein brothers in a $75M-plus lawsuit over the royalties for the second and third "Hobbit" films, the Wall Street Journal reports, citing people with knowledge of the situation. Reference Link
November 13, 2014
07:33 EDTAFLPR Newswire to hold a virtual conference
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November 12, 2014
10:43 EDTTWXBernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
06:22 EDTTWXFunny or Die hires Moelis to explore potential sale, WSJ reports
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