New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 25, 2014
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.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 >>
September 28, 2015
06:35 EDTNXST, MEGNexstar Broadcasting offers to buy Media General for $14.50 per share, WSJ says
Nexstar Broadcasting (NXST) Chairman and CEO Perry Sook has sent a letter to the board of Media General (MEG) offering to buy the local-television station owner for $14.50 per share, The Wall Street Journal reports. According to the letter, which was seen by the publication, includes $10.50 in cash and 0.0898 Nexstar shares for each Media General share. Media General previously announced a deal to buy Meredith Corp (MDP). Reference Link
06:08 EDTCMCSAComcast NBCUniversal to acquire 51% stake in Universal Studios Japan
Comcast NBCUniversal (CMCSA) announced that it has agreed to purchase 51% ownership of Universal Studios Japan in a recapitalization transaction, partnering with the current owners including Goldman Sachs (GS), USJ's CEO Glenn Gumpel, Asian private-equity firm MBK Partners, and U.S. hedge fund Owl Creek Asset Management. Comcast NBCUniversal's purchase price for the majority ownership of the theme park destination is Y183B, or $1.5B. "We are excited to expand our global footprint with this wonderful theme park in Osaka and are excited by the opportunities that lie ahead in Japan and all of Asia," said Brian L. Roberts, Chairman and CEO of Comcast. "This investment represents a huge opportunity and commitment to creating value for our shareholders and continuing to grow internationally." Acquiring majority ownership of Universal Studios Japan continues Comcast NBCUniversal's ongoing investment strategy for it's U.S. parks in Orlando and Hollywood.
05:06 EDTHFCStocks with implied volatility movement; HFC IBB
Subscribe for More Information
September 27, 2015
19:39 EDTFOXA, CMCSA'Hotel Transylvania 2' bites down in record-setting debut
Animated children's film "Hotel Transylvania 2" set a domestic record for September while "Maze Runner" and "Black Mass" dropped in their second weekends at the box office. WEEKEND LEADER: Sony's (SNE) computer animated comedy "Hotel Transylvania 2" grossed $47.5M during its domestic open for the weekend of September 27, beating expectations for $35M-$40M and setting a new record for September box office debuts. Adam Sandler, Selena Gomez, and others returned to provide voice acting for the monster-themed movie, which saw the biggest open yet for Sony Pictures Animation. BOX OFFICE RUNNERS-UP: With Robert DeNiro and Anne Hathaway in leading roles, Time Warner (TWX) subsidiary Warner Bros.' "The Intern" opened at $18.2M against estimates sales of $15M-$20M. Fox's (FOX, FOXA) "Maze Runner: The Scorch Trials" came in third with $14M after grossing $30.3M domestically during last weekend's debut. Meanwhile, Comcast (CMCSA, CMCSK) subsidiary Universal's "Everest" jumped to $13.1M after significantly expanding its screen count, while Warner Bros.' "Black Mass" rounded out this weekend's Top 5 at $11.5M.
September 25, 2015
13:17 EDTCMCSA, FOXAFly Watch: 'Hotel Transylvania 2' expected to top weekend box office
Sony's (SNE) animated sequel "'Hotel Transylvania 2," which is opening in 3,600 theaters, is expected to win this weekend's box office with a domestic gross of $35M-$40M. The next bunch of films are all expecting similar grosses in the mid-to-high teens. Time Warner (TWX) subsidiary Warner Bros.' comedy "The Intern," starring Robert DeNiro and Anne Hathaway, is estimated to open in the $15M-$20M range in 3,305 theaters. Comcast (CMCSA, CMCSK) subsidiary Universal's "Everest," which opened last weekend on IMAX (IMAX), is expanding to over 3,000 theaters this weekend and is estimated to gross in the range of $15M-$17M. Fox's (FOX, FOXA) "Maze Runner: The Scorch Trials," which grossed $30.3M domestically for the weekend of September 20, is expected to earn an estimated $16M in its second weekend of release. Warner Bros.' Whitey Bulger biopic "Black Mass," which took in $23.4M in its domestic opening last weekend, is expected to gross $12.5M-$13M this weekend. Additionally, Lions Gate's (LGF) drug cartel drama "Sicario" is playing in about 50 theaters ahead of the film's wide release on October 2.
10:48 EDTCMCSA, CBS, FOXAMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.
07:42 EDTMONMonsanto volatility elevated as shares trend lower
Monsanto October weekly call option implied volatility is at 35, October is at 36, November is at 31; compared to its 52-week range of 14 to 34, suggesting large near term price movement.
07:33 EDTMONGlobal Interdependence Center to co-host a discussion
Subscribe for More Information
September 24, 2015
20:04 EDTFOXA, CMCSA, DISFacebook virtual reality initiative picks up speed with $99 Samsung device
Thursday's Oculus Connect 2 event saw numerous announcements from Facebook (FB) virtual reality subsidiary Oculus VR, including content deals with major media players as well as a $99 VR headset developed in conjunction with Samsung (SSNLF). CONTENT OFFERINGS: The virtual reality firm will be partnering with Fox (FOX, FOXA) and Lionsgate (LGF) to bring more than 100 films to the Oculus Store at launch. Additionally, Netflix (NFLX), Amazon's (AMZN), TiVo (TIVO), and Hulu -- the joint venture of Disney (DIS), Fox, and Comcast's (CMCSA, CMCSK) NBCUniversal -- will be launching apps for the company's virtual reality products, bringing web TV and streaming content to early adopters of the new technology. MAINSTREAM DEVICE: Samsung joined with Oculus to reveal a new $99 "Gear VR" headset on Thursday. Standing in contrast to Oculus' own pricier devices, the Samsung headset will rely on the company's Galaxy line of smartphones to power its virtual reality experiences. Note that a major point of contention regarding the "blockbuster" potential -- or lack thereof -- of VR technology is whether consumers will be willing to pay upwards of $399 for the Oculus gadgets. Samsung's Gear VR tends more towards what Piper Jaffray analyst Gene Munster has called "medium immersion" devices, potentially allaying investor concern over adoption rates with its more attractive point of entry. PRICE ACTION: Facebook shares closed higher by 0.5% and continued to rise in after-hours trading, up another 0.2%.
13:44 EDTCMCSA, DIS, FOXAOculus says bringing Netflix, Huly to GearVR, company says in tweet
Subscribe for More Information
11:05 EDTBKSSEC charges G Asset Management over Barnes & Noble press release
Subscribe for More Information
08:32 EDTVLOValero Energy Partners upgraded on better than expected transaction at SunTrust
Subscribe for More Information
07:47 EDTMONMonsanto volatility elevated as shares trend lower
Monsanto September weekly call option implied volatility is at 32, October is at 34, November is at 31; compared to its 52-week range of 14 to 34, suggesting large near term price movement.
06:45 EDTMONMonsanto plans future in big data, Reuters reports
Subscribe for More Information
September 23, 2015
15:44 EDTMON52-week low stocks with active options: WYNN SNCR PX MON MOS DECK
Subscribe for More Information
09:57 EDTMONMonsanto initiated with an Underperform at Bernstein
Target $85.
09:18 EDTDISPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
08:40 EDTMONMonsanto reinstated with a Neutral at Goldman
Target $105.
08:18 EDTDISDisney volatility flat on tight one-month price movement
Subscribe for More Information
September 22, 2015
10:07 EDTDIS, CMCSA, FOXAMedia companies adjust Netflix strategy ahead of OTT growth, Bloomberg says
Subscribe for More Information
1 | 2 | 3 | 4 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use