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Stock Market & Financial Investment News

News Breaks
March 17, 2014
08:50 EDTCBS, CBSOCBS Outdoor Americas sees IPO pricing between $26-$28 per share
CBS Outdoor Americas (CBSO), the outdoor advertising subsidiary of CBS Corporation (CBS), announced that it launched a road show for its initial public offering. CBSO is offering 20M shares of its common stock. The IPO price is currently expected to be between $26 and $28 per share. After the IPO, CBS will own approximately 83% of CBSO. CBSO plans to convert into a real estate investment trust later this year, following CBS's divestiture of its shares through a tax-free split-off. Goldman Sachs, BofA Merrill Lynch, J.P. Morgan, and Morgan Stanley are acting as joint book-running managers, and Citigroup, Deutsche Bank, and Wells Fargo are acting as book runners.
News For CBS;CBSO From The Last 14 Days
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September 18, 2014
06:37 EDTCBSCBS head looks to reduce radio assets within 12 months, Reuters says
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September 17, 2014
17:19 EDTCBSCBS CEO says online ads not cannibalizing broadcast TV ads
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16:58 EDTCBSCBS CEO says Ray Rice scandal may have increased ratings
16:51 EDTCBSCBS CEO says could offer similar product to HBO Go in Europe
Les Moonves is speaking at the Bank of America conference.
September 16, 2014
11:05 EDTCBSJury finds CBS infringed on podcasting patent, ArsTechnica reports
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07:27 EDTCBSBofA/Merrill to hold a conference
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September 15, 2014
10:39 EDTCBSMedia General renewal with CBS a positive, says Wells Fargo
Wells Fargo views Media General's (MEG) announcement that it has renewed its affiliation agreements with all 12 of its CBS (CBS) stations as a positive that, along with LIN Media's (LIN) prior renewal with CBS, should end investor concerns about additional ''lost affiliations'' for the two. The firm maintains its Outperform rating on Media General.
09:03 EDTCBSCBS and Media General sign deal to renew all affiliation agreements
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September 10, 2014
15:24 EDTCBSCBS CEO Moonves says Nielsen has improved
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06:52 EDTCBSOCBS Outdoor now sees Q3 revenue flat y/y
On September 10, Jeremy Male, CEO of CBS Outdoor Americas, will make the following statements at the Goldman Sachs 23rd Annual Communacopia Conference in New York, New York: “As we previously indicated, national advertising has improved slightly from second quarter levels, but the the overall market is not as strong as expected. As a result, we are updating our view of third quarter revenues, which we now expect to be close to flat year-over-year, down from the low-single-digit range we provided on our August earnings call. This continues to include the comparison issues associated with a contract non-renewal in April 2014 and the sale of our street furniture business in Los Angeles in November 2013. We are pleased to be able to accelerate the proposed closing of the acquisition of outdoor advertising assets from Van Wagner to the fourth quarter of this year, and are now working toward closing the acquisition as early as possible during the quarter. We are also pleased to inform you that this business is trending positively for the second half. Together with our previously announced acquisition of billboards in Chicago, we expect to close three additional tuck-in acquisitions by the end of this year. Together, these four acquisitions amount to a total purchase price of approximately $20M and they will complement our existing top-market U.S. portfolio."
05:56 EDTCBSStocks with implied volatility movement; UNG CBS
Stocks with implied volatility movement; United States Natural Gas Fund (UNG) 31, CBS (CBS) 25 according to iVolatility.
September 8, 2014
11:57 EDTCBSCBS confirms James Corden as host of "The Late Late Show"
The CBS Television Network announced that James Corden will be the new host of THE LATE LATE SHOW. Corden – a multi-faceted performer, host, writer and producer with accomplishments that span television, theater, film and comedy – will take the reins of the daily late night show in 2015. He is a Tony Award-winning performer on Broadway, a BAFTA-winning star of a UK television series, a feature film actor with two releases this year, and an acclaimed host, writer and producer in several genres of television.
11:07 EDTCBSCBS picks James Corden for "Late Late Show," Variety reports
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