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Stock Market & Financial Investment News

News Breaks
June 10, 2014
10:41 EDTT, TWC, DISCA, AMCX, CMCSA, FOXA, TWX, DTV, SNI, VIABAMC 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 20, 2015
06:24 EDTTT-Mobile warns of unsustainable costs against cellphone giants, Re/code says
T-Mobile (TMUS) owner Deutsche Telekom (DTEGY) claims Verizon (VZ) and AT&T's (T) wealth makes true competition difficult, reports Re/code, citing statements made at Germany's DLD conference. Deutsche Telekom CEO Tim Hoettges stated the dominance of AT&T and Verizon allowed them to make huge bids at the latest midband spectrum auction to further their market lead. Hoettges also stated he was "intrigued" by last year's unsuccessful merger talks with Sprint (S), and warned that T-Mobile's $4B-$5B investment requirements per year are unsustainable. Reference Link
06:06 EDTFOXADreamWorks planning to lay off 'substantial' number of staff, LA Times reports
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January 18, 2015
16:46 EDTTWX, FOXAWarner Bros.' 'American Sniper' takes top spot with $90.2M at box office
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13:45 EDTTGoogle in talks to acquire mobile-pay platform Softcard, WSJ says
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January 16, 2015
18:07 EDTCMCSA, TCongressional GOP unveil net neutrality law to bypass FCC, LA Times reports
Representatives Fred Upton of Michigan and John Thune of South Dakota endorsed a congressional bill that would protect net-neutrality by banning internet service providers from charging companies extra to load their sites, and prohibit broadband companies from blocking legitimate websites, or slowing speeds for customers, superseding the FCC's authority to regulate the internet, according to the LA Times. Major internet companies such as AT&T (T) , Comcast (CMCSA), and Verizon Communications (VZ) have opposed a recent recommendation by FCC Chairman Thomas Wheeler to treat internet service similar to a utility. Reference Link
17:25 EDTTAT&T reports Q4 $10B charge related to pension benefits and network assets
For the quarter ended December 31, AT&T expects to record a noncash, pre-tax loss of approximately $7.9B related to actuarial gains and losses on pension and postemployment benefit plans. At December 31, the company decreased its assumed discount rates used to measure the pension obligation to 4.3% and to 4.2% for the company's postretirement obligation. These reductions resulted in an actuarial loss of approximately $7.9B. Also contributing to the amount were losses due to updated mortality assumptions offset by asset gains in excess of its assumed rate of return as well as demographic changes and other assumptions. Actuarial gains and losses are managed on a total company basis and are, accordingly, reflected only in consolidated results. Therefore, this loss will not affect segment operating results or margins. The company's Q4 operating results will also include a $2.1B noncash charge for the abandonment in place of certain network assets. During Q4, the company performed an analysis of its network assets and determined that specific copper assets will not be necessary to support future network activity, due to declining customer demand for AT&T's legacy voice and data products and the migration of its networks to next generation technology. This decision by management will not be considered in the company's assessment of segment performance and therefore, this charge will be reflected only in consolidated results and will not affect segment operating results or margins.
11:16 EDTVIAB, FOXACBS, Viacom climb following Stifel upgrades
Shares of CBS (CBS) and Viacom (VIA, VIAB) are climbing after research firm Stifel upgraded the stocks to Buy from Hold. CBS owns the CBS network and other entertainment properties. Viacom owns a number of cable networks, including MTV and Nickelodeon. WHAT'S NEW: CBS' NFL rights leave it well-positioned to charge cable companies and other TV providers high fees, Stifel analyst Benjamin Mogil wrote in a note to investors today. Meanwhile, the company's strong ratings and lower production costs reduce its risk, Mogil stated. CBS has more opportunities when it comes to selling its content to Internet TV networks such as Netflix (NFLX), Mogil believes. The analyst set a $65 price target on the shares. Meanwhile, Mogil believes that Viacom should benefit from the adoption of ratings measurements other than Nielsen's (NLSN) tools. Viacom has complained that Nielsen's tools have underestimated its ratings by failing to adequately take into account new types of content consumption, the analyst noted. Viacom's recent expansion into new international markets should also improve its performance, Mogil stated. He set an $89 price target on the shares. ANOTHER TO WATCH: Mogil initiated coverage of Twenty-First Century Fox (FOXA) with a $41 price target and Buy rating, saying that the company is well-positioned to benefit from its wide range of sports programming. He set a $41 price target on the shares. PRICE ACTION: In late morning trading, CBS advanced 2.75% to $55, Viacom gained 2.5% to $68, and Twenty-First Century Fox rose 0.4% to $34.72.
10:01 EDTVIAB, FOXAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with a Buy at Stifel... Arista Networks (ANET) initiated with a Neutral at Buckingham... Boston Beer (SAM) initiated with a Buy at Jefferies... Brocade (BRCD) initiated with a Neutral at Buckingham... CBS (CBS) initiated with a Buy at Stifel... Cabela's (CAB) initiated with an Outperform at Raymond James... Coach (COH) initiated with a Market Perform at Bernstein... Costco (COST) initiated with an Outperform at BMO Capital... Crane (CR) initiated with a Hold at Canaccord... Flowserve (FLS) initiated with a Neutral at Susquehanna... Fortinet (FTNT) initiated with a Buy at Buckingham... Gap (GPS) initiated with a Market Perform at Bernstein... GrubHub (GRUB) initiated with a Buy at Stifel... Imperva (IMPV) initiated with a Neutral at Buckingham... KLX Inc. (KLXI) initiated with a Sector Perform at RBC Capital... KNOT Offshore Partners (KNOP) initiated with a Buy at UBS... L Brands (LB) initiated with a Market Perform at Bernstein... Michael Kors (KORS) initiated with an Outperform at Bernstein... Northstar Realty (NRF) initiated with a Buy at Sterne Agee... OmniVision (OVTI) initiated with a Buy at Rosenblatt... Qorvo (QRVO) initiated with a Buy at Brean ... RSP Permian (RSPP) initiated with an Outperform at Northland... Ross Stores (ROST) initiated with a Market Perform at Bernstein... SPX Corp. (SPW) initiated with a Neutral at Susquehanna... TJX (TJX) initiated with an Outperform at Bernstein... Tiffany (TIF) initiated with a Market Perform at Bernstein... Viacom (VIAB) initiated with a Buy at Stifel... Xylem (XYL) initiated with a Neutral at Susquehanna... iGATE (IGTE) initiated with a Buy at Deutsche Bank... lululemon (LULU) initiated with an Outperform at Bernstein.
10:01 EDTTWX, DISCAOn The Fly: Analyst Downgrade Summary
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09:57 EDTVIABFollow-up: Viacom coverage transferred to a Buy at Stifel
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09:09 EDTCMCSAYouTube to host Super Bowl halftime show
YouTube will host a Halftime Show produced in collaboration with Collective Digital Studio that will be live streamed on the AdBlitz Channel, the Google (GOOG, GOOGL) property announced in a blog post. The show will feature more than 20 YouTube creators and musicians with over 60M combined subscribers, YouTube stated. The Super Bowl is being broadcast on Sunday, Feb. 1 on Comcast's (CMCSA) NBC Network. Reference Link
08:56 EDTDISCADiscovery downgraded at Atlantic Equities
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06:21 EDTDISCADiscovery downgraded to Neutral from Overweight at Atlantic Equities
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January 15, 2015
18:03 EDTFOXADISH, Fox News reach content carriage agreement
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16:23 EDTTWXTime Warner downgraded to Hold from Buy at Stifel
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16:22 EDTVIABViacom initiated with a Buy at Stifel
Target $89.
16:19 EDTFOXA21st Century Fox initiated with a Buy at Stifel
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15:09 EDTVIABViacom extends contract of CEO by two years, CNBC's Faber reports
Viacom (VIAB, VIA) has extended the contract for its CEO Philippe Dauman by two years through 2018, reported CNBC's David Faber on Twitter, citing sources. "He'll get more RSU's, maybe 1 reason he sold so much stock lately," Faber wrote. Reference Link
07:52 EDTFOXA'Avatar' sequel pushed back to 2017, AP says
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06:27 EDTTIntel to partner with more IT players for Internet of Things, DigiTimes reports
Intel (INTC) is preparing to team up with more IT firms such as AT&T (T), Verizon (VZ), Cisco (CSCO), SAP (SAP), and Microsoft (MSFT) in order to expand the Internet of Things industry in 2015, reports DigiTimes. According to sources from the upstream supply chain, Intel has been playing an active role in helping Taiwan build its smart city infrastructure and has also cooperated with Chunghwa Telecom to develop the IoT and cloud computing applications. Reference Link
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