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Stock Market & Financial Investment News

News Breaks
June 25, 2014
12:33 EDTMEG, CMCSA, MON, IACI, HFC, SBGI, DIS, BKS, CBS, EPD, VLO, FOXA, ZU, NXST, PXDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the U.S. sharply lowering its view of how the economy performed in the first quarter of this year. The market opened lower following the disappointing GDP revision, as well as a lower than expected durable goods report, but the averages soon turned mixed and all moved into positive ground by about 11 am ET, where they have been drifting since. ECONOMIC EVENTS: In the U.S., the Bureau of Economic Analysis released its third and final estimate of real gross domestic product for the first quarter. The government now estimates that output in the U.S. declined at an annual rate of 2.9%, which was worse than the prior estimate of 1% contraction and significantly down from the fourth quarter of 2013, when real GDP grew 2.6%. The estimate of Q1 personal spending growth was knocked down to a 1.0% clip from the prior 3.1% pace. Durable goods orders dropped 1.0% in May, versus expectations for them to have been unchanged. Markit's services PMI surged to a record 61.2 for the flash June reading from May's 58.1 figure. COMPANY NEWS: Shares of a number of television network owners, most notably CBS (CBS), advanced after the Supreme Court ruled that Aereo, a start-up service backed by the Barry Diller-controlled IAC (IACI) that streams tv shows over the Internet, had violated copyright laws. Following the high court ruling, which overturned a lower court judgment on the matter, CBS rose more than 4%, while Disney (DIS), which owns ABC Network, 21st Century Fox (FOXA), the owner of Fox, and Comcast (CMCSA), which owns NBC, all advanced about 1%. Shares of tv station owners reacted even more favorably, with Nexstar (NXST) surging 15%, Sinclair (SBGI) rising 14% and Media General (MEG) gaining 10%... Shares of Barnes & Noble (BKS) rose 4% after the bookseller announced that its board authorized management to separate its Retail and Nook Media divisions and the company reported better than anticipated fourth quarter revenue. MAJOR MOVERS: Among the notable gainers was Monsanto (MON), which advanced 5% after the company reported better than expected Q3 results, raised its full year EPS outlook to the upper end of its previous guidance range and announced a new $10B share repurchase authorization. Also higher was zulily (ZU), which rose over 10% after Goldman Sachs upgraded the stock to Buy, citing the recent pullback in shares and expectations for higher than expected customer growth into 2015. Among the noteworthy losers was Valmont Industries (VMI), which fell 7% after the company lowered its fiscal 2014 earnings per share outlook. Also lower were a number of refiners, including Valero (VLO), which was down 10%, and HollyFrontier (HFC), which slid 8%, after the U.S. reportedly reclassified condensate as a processed product and gave Pioneer Natural Resources (PXD) and Enterprise Products Partners (EPD) permission to export the type of oil to foreign buyers. INDEXES: Near midday, the Dow was up 23.20, or 0.14%, to 16,841.33, the Nasdaq was up 9.79, or 0.23%, to 4,360.15, and the S&P 500 was up 4.14, or 0.21%, to 1,954.12.
News For CBS;IACI;NXST;BKS;MON;ZU;DIS;CMCSA;FOXA;SBGI;MEG;VLO;HFC;PXD;EPD From The Last 14 Days
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December 10, 2014
06:25 EDTDISDisney downgraded to Hold from Buy at Topeka
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December 9, 2014
15:03 EDTCMCSA, DIS, FOXA, CBSDiscovery Communications rises after CEO sees outperforming U.S. peers
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11:11 EDTDIS, CMCSA, FOXADiscovery, Hulu announce new distribution agreement
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08:55 EDTFOXA21st Century Fox co-COO says company has 'clear' succession plan
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08:54 EDTFOXA21st Century Fox co-COO says on track for FY15, FY16 guidance
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07:32 EDTNXSTUBS to hold a conference
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06:48 EDTDIS, FOXA, CMCSA, CBSAnalysts say Netflix undermining TV ad revenue, NY Times reports
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06:25 EDTCMCSAComcast, USA Network trialing 'Playing House' on-demand , WSJ reports
Comcast (CMCSA) is planning to make new episodes of the sitcom "Playing House" available first on its on-demand service and air them on the USA Network the following week, The Wall Street Journal reports. Reference Link
05:24 EDTNXSTNexstar provides third extension to DISH distribution agreement
Nexstar Broadcasting (NXST) announced that it has provided the third extension of its distribution agreement with DISH Network (DISH) allowing the satellite television provider the right to continue to air Nexstarís highly rated programming until 11:59 p.m. ET on Wednesday, December 10. The agreement covers Nexstarís broadcast platform inclusive of 60 network affiliated and local stations in 46 markets. DISHís previous extension with Nexstar expires at 11:59 p.m. ET. Nextar stated that for over two months, it has been negotiating in good faith to establish a mutually agreeable contract with DISH and Nexstar remains hopeful that a resolution can be reached without a service interruption to viewers in affected markets.
December 8, 2014
14:36 EDTCMCSATime Warner Cable CEO reports strong trends in October, November, says UBS
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10:00 EDTFOXA, CBSOn The Fly: Analyst Initiation Summary
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07:40 EDTPXDMany E&P target prices lowered at SunTrust
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07:23 EDTCBSUBS to hold a conference
42nd Annual Global Media & Communications Conference is being held in New York on December 8-10 with webcasted company presentations to begin on December 8 at 8 am; not all presentations may be webcasted. Webcast Link
06:40 EDTIACIIAC looks to sell majority stake in CollegeHumor, Fortune reports
IAC is looking to sell entertainment website CollegeHumor for around $100M, Fortune reports, citing sources. IAC bought a majority stake in the entertainment website eight years ago for around $20M. Reference Link
December 7, 2014
12:26 EDTCBSCBS, DISH reach content carriage agreement
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December 5, 2014
16:55 EDTCBSCBS initiated with a Neutral at UBS
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16:54 EDTFOXA21st Century Fox initiated with a Buy at UBS
Target $46.
16:54 EDTDISDisney initiated with a Buy at UBS
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16:52 EDTBKSDow just below 18K as market finishes week with gains
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15:12 EDTBKSBarnes & Noble NOOK said to be potential target for Wal-Mart, Bloomberg reports
Wal-Mart (WMT) is interested in e-books and could target Barnes & Noble's (BKS) NOOK Media, said TheDeal, according to Bloomberg.
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