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News Breaks
June 10, 2014
10:41 EDTCMCSA, FOXA, TWX, DTV, SNI, VIAB, T, TWC, DISCA, AMCXAMC Networks seen as potential target for Viacom, Time Warner
A number of media companies may consider buying AMC Networks (AMCX), research firm Topeka wrote in a note to investors earlier today. AMC Networks owns and operates a number of cable TV channels, including its flagship, which broadcasts the popular "Walking Dead" show. WHAT'S NEW: A number of media companies may consider acquiring AMC, Topeka analyst David Miller theorized in a note to investors earlier today. The recent acquisitions of Time Warner Cable (TWC) and DirecTV (DTV), by Comcast (CMCSA) and AT&T (T) respectively, are likely to make media companies more interested in acquiring AMC, Miller believes. Those deals increase the bargaining power of content buyers and could create headaches for content suppliers if the latter fail to respond, according to Miller, who believes several content providers are considering responding by buying AMC. The most likely suitors for AMC are the largest media companies that are upbeat on the outlook for overseas growth, wrote the analyst. Miller noted that AMC last year bought Chellomedia, which, as of February 2013, developed content for channels that were distributed to more than 390M households in 138 countries. Viacom (VIAB), Time Warner (TWX), Discovery (DISCA), Scripps Networks (SNI), and Twenty-First Century Fox (FOXA) are the most likely suitors for AMC, the analyst indicated. All of those media companies operate cable channels as their core business and all of them have sought to grow by expanding overseas, according to Miller. The analyst kept an $87 price target and Buy rating on AMC Networks. PRICE ACTION: In mid-morning trading, AMC Networks shares were virtually unchanged at $60.70.
News For AMCX;VIAB;TWX;DISCA;SNI;FOXA;TWC;DTV;CMCSA;T From The Last 14 Days
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January 31, 2016
18:07 EDTCMCSA, FOXA'Kung Fu Panda 3' swings to first, 'Finest Hours' lands in choppy waters
"Kung Fu Panda 3" topped the box office in its U.S. debut while nautical disaster drama "The Finest Hours" floundered. WEEKEND LEADER: "Kung Fu Panda 3," produced by DreamWorks (DWA) and distributed by Fox (FOX, FOXA), grossed $41M against expectations for $35M-$50M in its domestic debut during the weekend of January 31. The computer-animated action comedy, featuring the voices of Jack Black, Dustin Hoffman and Angelina Jolie, set a new box office record for January animated film openings but fell somewhat short of the $60.2M and $47.7M debuts seen by previous films in the franchise. BOX OFFICE RUNNERS-UP: "The Revenant," also from Fox, grossed $12.4M. Disney's (DIS) "Star Wars: The Force Awakens" took in an additional $10.8M and stands at $1.98B globally, while the company's "The Finest Hours" earned $10.3M in its domestic start despite an estimated $70M-$80M budget. Rounding out the top five was Universal's (CMCSA, CMCSK) "Ride Along 2" with $8.3M.
16:31 EDTTWXNelson Peltz considering activist position in Time Warner, NY Post says
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13:15 EDTVIABViacom could appeal to long-term investors, Barron's says
Viacom shares look appealing for long-term value oriented investors, Barron's contends in its 'Trader Extra' column, citing activist firm SpringOwl's recent calls for change at the company. Reference Link
January 29, 2016
12:53 EDTCMCSA, FOXABox Office Battle: 'Kung Fu Panda 3' expected to kick 'Revenant' from top spot
DreamWorks Animation's (DWA) "Kung Fu Panda 3" featuring Jack Black is expected to break the record for the largest January opening for an animated feature, topping the opening of "The Nut Job" in 2014. The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. With a strong base of Po the Panda fans and the popularity of a recent TV show, conservative early estimates say "Panda 3" is expected to bring in $35M-$50M. Also opening this weekend are Disney's (DIS) "The Finest Hours," starring Chris Pine, and Open Road Films' "Fifty Shades of Black," starring Marlon Wayans. "The Finest Hours" may disappoint, with expectations topping out at $10M in its opening weekend. "Fifty Shades of Black," meanwhile, is the latest spoof movie from the team of Wayans and Michael Tiddes from "Haunted House" fame. The last film from Wayans had an opening weekend of $8.8M, and this one is currently expected to take in a similar amount. Both films will battle with Fox's (FOX, FOXA) survival story and Oscar contender "The Revenant," starring Leonardo Dicaprio, and Disney's (DIS) "Star Wars: The Force Awakens" for spots in the top five. "The Revenant" and "Star Wars" should each take in $9M-$12M even as they continue to lose theaters this coming weekend. Other publicly traded companies involved in filmmaking include Lionsgate (LGF), Comcast (CMCSA, CMCSK), and Sony (SNE).
06:49 EDTVIABViacom chairman to be evaluated by doctor hired by Manuela Herzer, NY Post says
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06:14 EDTFOXASky names James Murdoch chairman, WSJ reports
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05:24 EDTTAT&T implied volatility of 16 at lower end of index mean range
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January 28, 2016
09:38 EDTTWCActive equity options trading on open
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08:57 EDTTWCTime Warner Cable working with FCC, DoJ to get Charter deal approved
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06:30 EDTTYahoo starts restructuring with 'invest/maintain/kill' list, Re/code reports
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06:12 EDTTWCTime Warner Cable reports Q4 Residential Services revenue $4.81B
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06:10 EDTTWCTime Warner Cable reports customer relationship net additions of 200K for Q4
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06:02 EDTTWCTime Warner Cable reports Q4 adjusted OIBDA $2.13B
06:02 EDTTWCTime Warner Cable reports Q4 EPS $1.80, consensus $1.78
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05:44 EDTTSpringOwl calls for Yahoo, Viacom to seek partners, Reuters reports
SpringOwl Asset Management, which holds undisclosed stakes in Yahoo (YHOO) and Viacom (VIA), is urging the boards of both companies to seek investments from strategic partner, Reuters reports, citing an article that is set to be published today. SpringOwl managing director Eric Jackson says that "Although some shareholders of both Yahoo and Viacom think that a simple sale or break-up of both companies is the best way to create value for shareholders, we believe that both companies could benefit from their own version of the 'Buffett Convert,'" and that while stakes of investors would be diluted if an outside investor steps in, but "they would still be better off because their shares would likely get re-rated upwards substantially with this new partner sitting around the board table." Jackson believes Yahoo should seek outside investment from Liberty Media (LMCA), Verizon (VZ) or AT&T (T), while Viacom would benefit from Alibaba (BABA), Amazon (AMZN) or AMC Entertainment (AMC). Reference Link
05:41 EDTTAT&T implied volatility of 17 at lower end of index mean range
January 27, 2016
16:01 EDTTOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures up 1.02 to 26.01. Option volume leaders: AAPL FB BAC NFLX FCX BABA AA X VZ BA T
14:34 EDTTWCNotable companies reporting before tomorrow's open
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09:29 EDTTFacebook data center project supported by telco heavyweights, FT reports
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06:59 EDTTOptions expected to be active: AAPL FB AMZN BIIB GD HES TXT BA UTX X T
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