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Stock Market & Financial Investment News

News Breaks
June 16, 2014
07:14 EDTBSYBY, MS, BCS, FOXBSkyB picks Barclays, Morgan Stanley to advise on European units, Reuters says
According to a source, BSkyB (BSYBY) has selected Barclays (BCS) and Morgan Stanley (MS) to advise it on plans to acquire Sky Deutschland and Sky Italia, its German and Italian sister companies, Reuters reports. Reference Link
News For BSYBY;MS;BCS;FOX From The Last 14 Days
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October 22, 2014
13:06 EDTFOXEarnings Preview: Comcast reporting Q3 results as Time Warner deal progressing
Comcast (CMCSA, CMCSK) is set to report third quarter earnings before the market open on Thursday, October 23, with a conference call scheduled for 8:30 am ET. Comcast is a diversified media company that operates the NBC family of networks and Universal Pictures, among other cable, internet, and voice services. On February 13, Comcast announced plans to merge with Time Warner Cable (TWC) in a deal valued at $45.2B. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $16.82B, according to First Call. The consensus range for EPS is 64c-76c on revenue of $16.5B-$17.17B. LAST QUARTER: Comcast reported second quarter EPS of 75c against estimates for 72c, on revenue of $16.84B against estimates for $16.95B. TIME WARNER CABLE DEAL: On August 17, The Wall Street Journal reported that the Federal Communications Commission said that one issue it must decide as it reviewed the proposed acquisition of Time Warner Cable is whether to allow Comcast to continue Time Warner Cable's arrangement to handle programming and technology acquisitions for cable operator Bright House Networks. On August 26, Engadget reported that Netflix (NFLX) filed a formal protest against the Time Warner Cable deal, saying that the merger would result in "serious public interest harm" and that a combined cable giant would have a huge amount of leverage over it and rivals such as Hulu. Hulu is a joint venture owned by Comcast along with Disney (DIS) and 21st Century Fox (FOX,FOXA). The New York Post reported on September 8 that Discovery (DISCA) believed Comcast's takeover of Time Warner Cable would give the merged entity an unfair advantage over programmers. That same day, Reuters said a proxy statement detailed that Time Warner Cable employees would split $416M if the merger deal with Comcast did not transpire. At the Goldman Sachs Communacopia Conference on September 10, Comcast said that it has made "a lot of progress" on the shareholder approval process for the Time Warner Cable deal, but expected the agreement to be finalized in early fiscal year 2015 versus the previous guidance of late 2014. The company expects the Time Warner Cable merger to generate $1.5B in operating expense synergies. On September 16, Comcast said at the Media, Communications and Entertainment Conference that it would reveal its capital plan at the close of the Time Warner Cable deal and noted at that time that "everything was on track" regarding the merger. The Wall Street Journal reported on September 30 that the FCC pushed for media companies to submit details of their programming agreements with Comcast prior to the Time Warner Cable deal. The FCC announced three days later that it extended time for the companies to file their replies on Comcast regarding the merger. On October 8, Comcast Shareholders approved stock issuance for the Time Warner Cable deal and the next day, Time Warner Cable stockholders approved the Comcast merger deal. STREET RESEARCH: Analysts remained fairly quiet on Comcast throughout the quarter. On September 9, UBS raised its price target on Comcast to $72 from $60 given its strong underlying fundamentals and the expected free cash flow accretion from the Time Warner Cable deal. The firm also said it expected Comcast to accelerate its stock buyback and increase its dividend. UBS kept its Buy rating on the stock. On October 17, Goldman Sachs said that Comcast was its top large cap pick into the earnings report given steady fundamentals, moderated expectations, and valuation. The firm maintained the stock with a Buy rating and a $64 price target. PRICE ACTION: Since the first day of trade following its Q2 report on July 22, shares of Comcast are down about 3.5%. Since it announced its deal with Time Warner Cable on February 13, shares of the media company have fallen just under 6%. In late-morning trade ahead of tomorrow’s Q3 report, shares of Comcast are down fractionally.
October 21, 2014
14:41 EDTMSMorgan Stanley may sell natural gas export business, FT says
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08:18 EDTBCS, MSBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
October 20, 2014
07:21 EDTMS, BCSFederal Reserve Bank of New York and Boston to hold a workshop
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06:49 EDTFOXTumblr, TV shows collaborate to broaden reach, NY Times says
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October 19, 2014
18:38 EDTFOXSony's ‘Fury’ wins at the box office,'Gone Girl' keeps second place, WSJ says
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17:39 EDTFOXDish's AutoHop wins wins tentative ruling over Fox, Bloomberg says
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October 17, 2014
16:55 EDTMSStocks end volatile week lower amid oil price plunge
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12:52 EDTMSOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday, as the averages bounce back following steep declines in several recent sessions. Better than expected earnings from General Electric (GE) and Morgan Stanley (MS), a rebound in European stock markets and a stronger than expected reading on U.S. consumer confidence may all be contributing to the brightened mood evidenced by today's trading. ECONOMIC EVENTS: In the U.S., housing starts rebounded 6.3% to a 1.017M pace in September, beating expectations for a monthly increase of 4.6%. Building permits increased 1.5% to a 1.018M rate, which was below the expected 2.3% rise. The first release on the University of Michigan's consumer sentiment index for October came in at 86.4, versus expectations for a decline to 84.0 from the prior 84.6 reading. COMPANY NEWS: General Electric shares rose over 3% after the company reported better than expected third quarter profit and nearly in-line revenues. Morgan Stanley, whose quarterly results also topped Street expectations, advanced 2.5%. MAJOR MOVERS: Among the notable gainers was Westmoreland Coal (WLB), which gained 23% after it stuck a deal to acquire Oxford GP, the general partner of Oxford Resource Partners (OXF), and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units. Afterward, Brean Capital raised its price target on Westmoreland to $60, noting the announcement represents an entry into the MLP space. Also higher were shares of Textron (TXT), which advanced 11% after the aircraft and defense company reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. Among the noteworthy losers was Urban Outfitters (URBN), which dropped 13% and was downgraded by at least three Street research firms after the owner of Anthropologie and its namesake clothing stores warned that its Q3 earnings may be negatively impacted by continued weakness in its comparable retail sales. Also lower was Myriad Genetics (MYGN), which fell 7% after guiding to lower than expected Q1 adjusted earnings, citing a higher than expected increase in costs to perform its myRisk Hereditary Cancer test following the test's national launch. INDEXES: Near midday, the Dow was up 295.34, or 1.83%, to 16,412.58, the Nasdaq was up 62.43, or 1.48%, to 4,279.82, and the S&P 500 was up 29.48, or 1.58%, to 1,892.24.
11:01 EDTMSMorgan Stanley says 'no basis' to take adjustment on FVA
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10:56 EDTMSMorgan Stanley trades down from open, levels to watch
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10:38 EDTMSMorgan Stanley says still hard to tell when markets will reset from 'choppiness'
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10:22 EDTMSMorgan Stanley says volatility may affect institutional results
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10:15 EDTMSMorgan Stanley says well positioned for further capital actions
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09:17 EDTMSOn The Fly: Pre-market Movers
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07:19 EDTMSMorgan Stanley reports Q3 Institutional Securities net revenues ex-DVA $4.3B
Wealth Management net revenues were $3.8B. Investment Management reported net revenues of $655M. Fixed Income & Commodities sales and trading net revenues were $997M. James P. Gorman, Chairman and CEO, said, “Morgan Stanley has delivered another quarter of earnings growth and strong performance based on consistent execution for our clients. We are well positioned to create superior returns for our shareholders, particularly as the U.S. economy continues to strengthen.”
07:18 EDTMSMorgan Stanley reports Q3 EPS 65c ex-DVA, tax benefit, consensus 54c
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07:17 EDTMSMorgan Stanley reports Common Equity Tier 1 capital ratio 14.3% at Sept. 30
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07:16 EDTMSMorgan Stanley says Q3 included net discrete tax benefit of 12c per share
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07:16 EDTMS Morgan Stanley reports Q3 EPS 77c ex-DVA, consensus 54c
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