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News Breaks
December 6, 2012
09:52 EDTT, AKAMAkamai jumps after announcing partnership with AT&T
Internet content delivery company Akamai (AKAM) is rallying after it announced an alliance with AT&T (T) earlier today. Under the deal, Akamai's content delivery platform will be combined with AT&T's IP network to deliver content delivery and telecom services to companies. Specifically, Akamai's servers will be placed at the edge of AT&T's IP network and in AT&T facilities throughout the United States, the companies said. With the deployment of Akamai's infrastructure within AT&T's network infrastructure, end customers are expected to benefit from more efficient content routing and better delivery of digital content, video and Web applications, AT&T and Akamai believe. The companies will initially focus their efforts in North America, but plan to expand globally within 12 months. No financial details of the deal were disclosed. In early trading, Akamai rose $3.13, or 8.82%, to $38.63.
News For AKAM;T From The Last 14 Days
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February 9, 2016
15:02 EDTAKAMEarnings Watch: Akamai to report as client losses, Google competition looms
Akamai (AKAM) is expected to report fourth quarter earnings after the close on Tuesday, February 9, with a conference call scheduled for 4:30 pm ET. Akamai is a provider of cloud computing services and content delivery networks. EXPECTATIONS: Analysts are looking for earnings per share of 62c on revenue of $568.72M. EPS consensus ranges 58c-64c on a revenue range of $559.0M-$576.23M, according to First Call. During the company's last earnings conference call, Akamai forecast Q4 EPS of 60c-64c on revenue of $557M-$577M, and also noted expectations for declining revenue from its large media clients. LAST QUARTER: On October 27, Akamai reported third quarter EPS of 62c against expectations for 58c, and revenue of $551M versus estimates of $550.29M. NEWS: On November 2, Akamai announced the acquisition of cybersecurity firm Bloxx, which it said would enhance its cloud security offerings. On November 19, the company announced a collaboration with Google (GOOG, GOOGL) to reduce hosting and traffic costs for Akamai customers who also use Google's cloud platform. In early December, Google quietly began rolling out its own cloud content delivery network. STREET RESEARCH: Akamai saw no less than five analyst downgrades following its last earnings report, with JPMorgan, Canaccord, Cowen, Craig-Hallum, and FBR all negative on the company in the wake of its disappointing guidance and lower traffic growth from its three largest customers. On November 20, Goldman Sachs downgraded Akamai to Sell and lowered its price target to $52 from $62, with the research firm highlighting reduced orders from large clients as well as an industry focus on cutting download sizes. On November 24, JMP Securities said its checks with content delivery network experts revealed that "very few" of Akamai's clients other than its largest customers can build their own CDN systems. The firm reiterated its Outperform rating and $85 target on the shares, saying Akamai is well-positioned for the growing opportunity in over-the-top streaming and the convergence of cloud security and CDN. On December 9, JPMorgan said Apple's (AAPL) suspension of its TV streaming plans removes a catalyst for Akamai's media business recovery, leading the research firm to struggle to see a near-term driver of sustainable volume improvement. Following reports of Google planning its own content delivery network, JPMorgan and Craig-Hallum cut their outlooks on Akamai on December 14, saying the news could mark a first step toward Google competing for some of Akamai's business. PRICE ACTION: Shares of Akamai have slipped 2.4% to $40.00 ahead of Tuesday's results.
14:48 EDTAKAMAkamai February weekly 40 straddle priced for 14% movement into Q4
14:36 EDTAKAMNotable companies reporting after market close
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13:25 EDTTFox, Viacom drop on earnings as Bernstein says linear TV still 'doomed'
21st Century Fox (FOX, FOXA) and Viacom (VIA, VIAB) are trading lower after issuing their latest quarterly reports, with some Wall Street analysts reiterating doom-and-gloom views on the linear TV programming upon which the two media giants have traditionally relied. RESULTS: Fox reported second quarter adjusted earnings per share of 44c, in-line with analyst consensus estimate. Revenue was $7.38B against expectations for $7.51B, with film revenue slowing to $2.36B from last year's $2.75B. During the company's Q2 earnings conference call, 21st Century Fox said it sees its fiscal 2016 EBITDA to be flat to up by a low single digits percentage. Viacom reported first quarter adjusted EPS of $1.18, also in-line with estimates. Revenue was $3.15B against expectations for $3.26B, with domestic ad revenue declining 4%. UBS SEES GROWTH COMING FOR FOX: UBS analyst Meghan Durkin said Tuesday that, despite Fox once again cutting its outlook for 2016 earnings before expenses, growth looks set to lift off for the company through 2019. Current headwinds appear less worrisome than the previous operational issues in the company's broadcast unit; cable subscriber trends have been improving, likely due to a lessening impact from skinny bundles; and U.S. ad results are also improving and should see further boosts from the upcoming presidential elections, the analyst noted. That said, Durkin conceded that few investors will have confidence in her team's bullish growth outlook, but Fox's potential 11% compounded annual growth rate is worth the wait, she argued. Durkin reiterated her Buy rating on the shares while lowering her 2016 earnings per share outlook by 12c to $1.68, noting that Fox's film release schedule for the year "appears much better positioned," though impacts from unfavorable foreign currency exchange remains a "minor swing factor." STILL POSITIVE ON VIACOM: Shifting focus to Viacom, Evercore analyst Vijay Jayant noted today that the company's Q1 ad sales saw sequential improvement, driven by higher prices and moderated ratings declines on the back of investments in content and marketing initiatives. Affiliate fees were lighter than expected, however, which the analyst pinned on the timing of Viacom's digital distribution agreements and presumably its rate reset with AT&T (T). Viacom also announced a global partnership with the popular video messaging service Snapchat, which Jayant said fits well with Viacom's strategy of targeting millennials. The analyst kept a Buy rating and $60 price target on the shares. VALUE TRAP: Taking the more negative outlook, Topeka analyst David Miller said he still struggles to get more constructive on Viacom in the wake of today's results, which missed not just the Street's forecast but also the company's own predictions. Viacom's Paramount film division contracted 15% and the company still faces a "host" of secular challenges, leading Miller to cut his price target to $44 from $45 and caution that the stock continues to be a value trap for investors. Even more bombastic was research firm Bernstein, which reiterated its view that Viacom's old business of serving kids and teens through linear programming is "doomed," while new efforts to grab that demographic through digital outlets is "unlikely" to be won by Viacom. Even if the company succeeds in its on-demand, digital efforts, the margins offered by that business line are "vastly inferior," and today's deal with Snapchat doesn't appear to change that. PRICE ACTION: Shares of Viacom have crashed 15% to $35.51 in afternoon trading, while Fox has slipped 3% to $23.83.
February 8, 2016
17:00 EDTTNFL shopping streaming rights for Thursday Night Football, Bloomberg says
The NFL is shopping the web streaming rights for Thursday Night Football and has held talks with Apple (AAPL), Amazon (AMZN), Yahoo (YHOO), Facebook (FB), Verizon (VZ) and AT&T (T), reports Bloomberg, citing sources. Though some of the companies rejected the high price asked by the league, Yahoo, Verizon, and AT&T are expected to bid, the sources told Bloomberg. The NFL is not pursuing a longterm relationship, and will instead use the next several years to explore various distribution models in preparation for selling a broader array of digital rights near 2021, the report said. Reference Link
14:50 EDTTAT&T management to meet with Evercore ISI
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13:45 EDTAKAMAkamai volatility elevated into Q4 and outlook
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February 4, 2016
12:28 EDTTAdtran spikes after Cowen analyst sees revenue opportunity in AT&T pact
Shares of communications equipment maker Adtran (ADTN) are advancing after research firm Cowen raised his rating and price target on shares following recent industry checks. WHAT'S NEW: Cowen analyst Paul Silverstein raised his rating on Adtran shares to Market Perform from Underperform following industry checks regarding Adtran's new G.Fast broadband access project win at AT&T (T). Recent industry checks confirm that Adtran was selected by AT&T for its G.Fast broadband access build-out project, the analyst said, and noted that checks also show that Adtran is the only vendor selected by AT&T for the Outside Network Unit and Distribution Point Unit functions of the project. The analyst, who raised his price target on Adtran shares to $16 from $14, sees the pact with AT&T as a significant revenue opportunity for Adtran over the next few years. WHAT'S NOTABLE: Adtran reported fourth quarter results on January 20, with earnings per share coming in at 12c on revenue of $139M, beating analysts' projections of 3c and $137.75M, respectively. On its quarterly conference call, the company forecast revenue for the first quarter to be flat to slightly up. According to Cowen's research note today, Adtran won't realize revenue gains from its broadband pact with AT&T until the beginning of calendar year 2017. PRICE ACTION: Shares of Adtran are up over 4.5% to $18.98 in midday trading. OTHERS TO WATCH: Shares of Calix (CALX), which also sells broadband communications access systems and software for fiber- and copper-based networks, are up 1.35% in midday trading.
10:01 EDTTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AT&T (T) initiated with a Buy at DA Davidson... Abaxis (ABAX) initiated with an Underperform at Credit Suisse... Aratana Therapeutics (PETX) initiated with an Outperform at Credit Suisse... Care.com (CRCM) initiated with an Equal Weight at Morgan Stanley... GCP Applied Technologies (GCP) initiated with a Buy at Jefferies... Heritage-Crystal Clean (HCCI) initiated with a Buy at Roth Capital... IDEXX (IDXX) initiated with an Outperform at Credit Suisse... Nexvet Biopharma (NVET) initiated with an Outperform at Credit Suisse... PetMed Express (PETS) initiated with an Underperform at Credit Suisse... Phibro Animal Health (PAHC) initiated with an Outperform at Credit Suisse... Pure Storage (PSTG) initiated with a Perform at Oppenheimer... SeaWorld (SEAS) initiated with a Neutral at Janney Capital... Seattle Genetics (SGEN) initiated with an Overweight at Barclays... VCA Inc. (WOOF) initiated with an Outperform at Credit Suisse... Verizon (VZ) initiated with a Neutral at DA Davidson... Zoetis (ZTS) initiated with an Outperform at Credit Suisse.
06:28 EDTTNews Corp not interested in Yahoo acquisition, Business Insider says
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05:49 EDTTVerizon initiated with a Neutral at DA Davidson
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05:48 EDTTAT&T initiated with a Buy at DA Davidson
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February 3, 2016
18:41 EDTTYahoo hires Qatalyst to advise on strategic alternatives, Re/code says
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14:09 EDTTBain, TPG among PE firms weighing bid for Yahoo core, FT reports
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13:37 EDTTComcast to be possible bidder for wireless airwaves, Bloomberg says
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February 2, 2016
08:04 EDTTForum Global to hold a conference
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06:20 EDTTYahoo investors waiting on explicit sale signals, Re/code says
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February 1, 2016
05:13 EDTTAT&T implied volatility of 16 at lower end of index mean range
January 31, 2016
20:43 EDTAKAMOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:44 EDTAKAMAutodesk, Akamai among top tech picks after January selloff, Barron's says
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