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Stock Market & Financial Investment News

News Breaks
April 16, 2014
07:12 EDTVIAB, BSYBY, VIA, DISCABSkyB, Discovery make joint offer for Channel 5, Bloomberg says
British Sky Broadcasting Group (BSYBY) and Discovery (DISCA) have made a joint bid for U.K's Channel 5, while Viacom (VIA, VIAB) has also become involved in the sale process, according to Bloomberg, citing people familiar with the talks. A spokeswoman for Channel 5's owner, Northern & Shell, said the company is scheduled to evaluate the offers with advisers in the coming days. Reference Link
News For BSYBY;DISCA;VIA;VIAB From The Last 14 Days
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February 4, 2016
11:03 EDTVIA, VIABViacom CEO Dauman named Chairman, Bloomberg reports
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09:18 EDTVIABOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Glu Mobile (GLUU), up 21.9%... Solaredge Technologies (SEDG), up 11.2%... Cadence Design (CDNS), up 6.6%. ALSO HIGHER: VirnetX Holding (VHC), up 91.7% after the company won a $625.6M verdict in favor of in a patent infringement lawsuit against Apple (AAPL)... Viacom (VIAB), up 5.1% after CNBC's David Faber reported that sources said CEO Philippe Dauman is likely to be named Chairman despite objections from Shari Redstone. DOWN AFTER EARNINGS: GoPro (GPRO), down 16.4%... ConocoPhillips (COP), down 2.9%... Dunkin Brands (DNKN), down 2.1%... Philip Morris (PM), down 3.2%. ALSO LOWER: L Brands (LB), down 3.3% after providing Q4 guidance, reporting January Same-Store Sales were down 2%... MannKind (MNKD), down 8.1% after Piper Jaffray analyst Joshua Schimmer calls the company a penny stock with a mid-cap valuation.
08:13 EDTVIA, VIABViacom CEO Dauman likely to be named Chairman, CNBC's Faber says
Viacom CEO Philippe Dauman is said to be likely to be named Chairman despite objections from Shari Redstone, reported CNBC's David Faber, citing sources. Reference Link
07:23 EDTVIAB, VIAViacom gains likely to fade, says Bernstein
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07:16 EDTVIAResignation of CBS chairman 'marginally positive,' says Bernstein
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06:05 EDTVIAShari Redstone doesn't want Dauman to become Viacom's chairman, NY Post says
Shari Redstone, the daughter of Sumner Redstone, says she does not want Viacom (VIA) CEO Philippe Dauman to succeed her 92-year-old father as chairman of the media company, The New York Post reports. Shari says, "It is my firm belief that whoever may succeed my father as chair at should be someone who is not a Trustee of my father's trust or otherwise intertwined in Redstone family matters, but rather a leader with an independent voice." CBS yesterday announced that Leslie Moonves has been elected its new chairman, with Sumner servicing as chairman emeritus. Reference Link
February 3, 2016
19:35 EDTVIA, VIABOn The Fly: After Hours Movers
UP AFTER EARNINGS: Glu Mobile (GLUU), up 27.9%... Capstone Turbine (CPST), up 17.2%... Solaredge (SEDG), 12.6%... Take-Two (TTWO), up 8.3%... PennantPark (PNNT), up 5%... Cadence Design (CDNS), up 4.5%... Buffalo Wild Wings (BWLD), up 1%. ALSO HIGHER: VirnetX Holding (VHC), up 90.6% after the company won a $625.6M verdict in favor of in a patent infringement lawsuit against Apple (AAPL)... Viacom (VIAB, VIA), up 9.5% and 7%, respectively, after Viacom issued a brief statement which reads, "The Viacom board of directors is scheduled to meet tomorrow."... CBS (CBS), up 4.7% after Sumner Redstone has resigned as executive chairman of CBS to be replaced by CEO Leslie Moonves. DOWN AFTER EARNINGS: DHT Holdings (DHT), down 5.3%... GoPro (GPRO), down 9.9%... Imperva (IMPV), down 11.7%... Shutterfly (SFLY), down 3.8%... MetLife (MET), down 2.3%. ALSO LOWER: Ambarella (AMBA), down 2.2% after GoPro reported Q4 results.
17:13 EDTVIA, VIABViacom issues statement, says board is scheduled to meet Thursday
Viacom issued a brief statement which reads, "The Viacom board of directors is scheduled to meet tomorrow."
16:47 EDTVIA, VIABCBS, Viacom shares jump following news of Redstone departure
Shares of CBS (CBS) and Viacom (VIA, VIAB) have jumped a respective 4.33% and 7.45% following news that Sumner Redstone has resigned as executive chairman of CBS to be replaced by CEO Leslie Moonves, as well as a report by CNBC's David Faber indicating that Viacom will also move to replace Redstone as chairman on Thursday.
16:32 EDTVIA, VIABViacom board expected to replace Redstone, CNBC's Faber says
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16:26 EDTVIACBS says Shari Redstone offered, declined non-executive Chair role
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16:15 EDTVIACBS jumps 3.7% after Redstone resigns as Executive Chairman
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February 2, 2016
15:46 EDTVIA, VIABEarnings Watch: Media networks report amid shifts in streaming, TV landscape
Comcast (CMCSA), CBS (CBS), Time Warner (TWX), Viacom (VIA), and 21st Century Fox (FOX) are among media companies expected to report quarterly results over the next several weeks. EXPECTATIONS: Comcast is expected to report EPS of 82c on revenue of $18.77B, CBS is expected to report EPS of 93c, Time Warner is expected to report EPS of $1.00 on revenue of $7.53B, Viacom is expected to report EPS of $1.18 on revenue of $3.26B, and Fox is expected to report EPS of 44c on revenue of $7.54B. LAST QUARTER: Comcast, Fox, and viacom reported mixed results for the previous quarter, while CBS and Time Warner beat on both top and bottom lines. NEWS: On November 10, Comcast announced it expanded its advanced fiber network to Modesto, California as part of the company's ongoing response to Google (GOOG) Fiber. On November 12, the Wall Street Journal broke news that Hulu, a video streaming joint venture of Disney (DIS), Comcast and Fox, is in talks to sell a stake to Time Warner, though the Journal said on January 31 that the company has expressed dissatisfaction with Hulu's inclusion of current-season TV episodes, which it believes contributes to cord-cutting. On December 2, the Wall Street Journal reported that YouTube was holding talks with Hollywood studios and production companies to seek content licenses amid intensified competition with Netflix (NFLX), Amazon (AMZN), and Hulu. On December 9, Re/code reported that Apple (AAPL), rumored to be working on a subscription TV service, walked away from its negotiations with the major networks after being pressed to include "filler" channels in its hypothetical service. Speaking at a January 7 media conference, Time Warner CFO Howard Averill said the company was negotiating to make full seasons of TV shows available to pay-TV customers on demand, mirroring the "binge watching" offered by Netflix. On January 8, the New York Post reported that Corvex Management was considering an activist position in Time Warner. That same day, Benzinga reported that Twenty-First Century Fox remained interested in the company and had made a $105 per share acquisition offer, though Fox later denied the report. On January 14, the New York Post reported that Comcast has begun "ripping up" agreements with cable networks, moving them from basic cable onto digital tiers in response to consumer demand for smaller bundles. On January 27, Reuters reported that SpringOwl Asset Management is urging Viacom to seek outside investment from strategic partners. On January 30, the New York Post reported that Nelson Peltz is considering an activist position in Time Warner. On February 1, the National Football League announced a broadcasting agreement with CBS and Comcast's NBC which will see the two companies paying roughly $225M each for rights to the next two seasons of Thursday Night Football. Also on February 1, it was reported that Fox offered certain employees voluntary buyouts as part of a $250M cost cutting target. STREET RESEARCH: On November 5, Wells Fargo analyst Marci Ryvicker downgraded Time Warner to Market Perform after its "huge" guidance cut last quarter, with the shares also seeing downgrades at CLSA and Bank of America Merrill Lynch. On December 22, Morgan Stanley analyst Benjamin Swinburne called Comcast one of his top large cap picks for 2016, saying the company can use skinny bundles to take market share and potentially add net video customers for the first time since 2006. On January 8, research firm Stifel cut its price target on CBS to $54 from $66, citing a belief that industry syndication and SVOD revenues will significantly decelerate going forward, with CBS having more exposure to those areas than its peers. Meanwhile, JPMorgan added the company to its U.S. focus list on January 11, citing its heavily discounted stock and potentially strong EPS growth in 2016. On February 1, Pacific Crest argued that Comcast shares should be owned going into fourth quarter results, contending that the company's video and broadband investments will likely translate to increased market share and strong cash flows this year. PRICE ACTION: Comcast and Fox, the first of the media giants to report quarterly earnings, are down 2% and 3.6%, respectively, amid the broader market selloff.
February 1, 2016
07:35 EDTDISCAIMAX, Discovery enter global distribution, marketing partnership
IMAX (IMAX) announced a distribution and marketing partnership, which provides Discovery Communications' (DISCA, DISCB, DISCK) flagship network Discovery Channel with 18 months of exclusive paid global television rights for up to 10 IMAX documentary films to be released through the IMAX Original Film Fund, following the titles' theatrical release across the IMAX institutional theatre network. The alliance marks IMAX's first television distribution agreement for original content. Under the partnership agreement, Discovery Channel will air IMAX documentaries worldwide following their theatrical IMAX release, and consult on development, production and marketing. The IMAX Original Film Fund was established in 2014 to deliver new educational documentaries for the Company's institutional partners, which include many of the world's most prestigious museums, science centers and aquariums. The Fund will finance an ongoing supply of educational documentaries that push the envelope of traditional documentary filmmaking for a new generation of moviegoers.
January 31, 2016
13:15 EDTVIA, VIABViacom 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
06:49 EDTVIAB, VIAViacom chairman to be evaluated by doctor hired by Manuela Herzer, NY Post says
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January 28, 2016
05:44 EDTVIASpringOwl 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
January 26, 2016
12:00 EDTVIABViacom downgraded to Market Perform from Outperform at Barrington
Barrington analyst James Goss downgraded Viacom (VIAB) to Market Perform saying it will take time for the company to fix the measurement issues in its key, younger demographics. The analyst believes a cautious is warranted into Viacom's earnings release on February 9.
11:56 EDTVIA, VIABViacom downgraded to Market Perform from Outperform at Barrington
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11:42 EDTVIABOptions with increasing call volume; TEX MTW MTG SEE KBH SNDK WDC VALE VIAB PII
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