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Stock Market & Financial Investment News

News Breaks
June 25, 2014
10:28 EDTCBS, SBGI, NXST, GTN, MEG, DIS, FOXA, CMCSABroadcasters jump after Supreme Court rules against Aereo
The Supreme court ruled 6-3 in favor of television network owners and against Aereo, which sells a service that allows its subscribers to watch television programs over the Internet at about the same time as the programs are broadcast over the air. WHAT'S NEW: Television broadcasters that own the copyrights in many of the programs that Aereo streams sued the service for copyright infringement. A district court previously denied an injunction against Aereo that was sought by television networks and the Second Circuit affirmed, but the Supreme Court ruled that "Because Aereo’s activities are substantially similar to those of the CATV companies that Congress amended the Act to reach, Aereo is not simply an equipment provider." PRICE ACTION: Following the Supreme Court ruling against Aereo and in favor of broadcast TV network owners, shares of CBS (CBS) are up more than 5%. Shares of Disney (DIS), which owns ABC Network, are up 1.4%, 21st Century Fox (FOXA), the owner of Fox, is up 1.6% and Comcast (CMCSA), which owns NBC, is up 1%. Meanwhile, owners of television stations are up as well, with Sinclair Broadcast Group (SBGI) up 14%, Nexstar (NXST) up 12%, Media General (MEG) up 6% and Gray Television (GTN) up 4.6%. Reference Link
News For CBS;SBGI;NXST;GTN;MEG;DIS;FOXA;CMCSA From The Last 14 Days
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July 18, 2014
12:21 EDTCBS, CMCSA, FOXA, DISCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
11:04 EDTDIS, CMCSAComcast, ESPN reach agreement on carriage of SEC Network, Reuters says
08:21 EDTCBS, CMCSA, FOXA, DISTime Warner merger could change Warner Bros. spot in tv landscape, WSJ says
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07:05 EDTCBS, FOXACBS CEO says will examine CNN if Time Warner puts up for sale, Reuters says
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06:53 EDTFOXABSkyB aims for European expansion with Fox German, Italian units, Reuters says
In an effort to try to expand in Europe, BSkyB has started discussions with Rupert Murdoch's 21st Century Fox to purchase Sky Deutschland and Sky Italia, according to Reuters, citing comments from one top-ten shareholder in BSkyB. The move would create a European powerhouse with 20M subscribers. Reference Link
July 17, 2014
14:52 EDTCMCSAYahoo Sports, NBC Sports announce expanded fantasy football coverage
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10:00 EDTFOXAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21st Century Fox (FOXA) downgraded to Buy from Strong Buy at ISI Group... Charter (CHTR) downgraded to Hold from Buy at Jefferies... Covidien (COV) downgraded to Hold from Buy at Needham... Diageo (DEO) downgraded to Underweight from Neutral at JPMorgan... GNC Holdings (GNC) downgraded to Hold from Buy at Jefferies... International Game (IGT) downgraded to Market Perform from Outperform at BMO Capital... JAVELIN Mortgage (JMI) downgraded to Market Perform from Outperform at JMP Securities... Macquarie Group (MQBKY) downgraded to Underweight from Neutral at JPMorgan... PNC Financial (PNC) downgraded to Neutral from Buy at Compass Point... PetSmart (PETM) downgraded to Sector Perform from Outperform at RBC Capital... Rexam (REXMY) downgraded to Hold from Buy at Deutsche Bank.
09:31 EDTDISNetflix, Disney announce multi-year pay TV window agreement in Canada
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09:31 EDTDISMattel says 'Frozen' brand continuing to grow
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09:22 EDTFOXA, CMCSAComcast price target raised to $66 from $62 at Maxim
Maxim raised its price target for Comcast (CMCSA) shares to $66 citing synergies from the Time Warner Cable (TWC), Charter deal. The firm says it values NBC Universal on a 10 times 2015 EBITDA, which it notes is a 14% discount to Fox's (FOXA) proposed bid for Time Warner (TWX), which values Time Warner at 11.6 times. Maxim keeps a Buy rating on Comcast shares.
08:42 EDTCBS, FOXACBS, Yahoo among potential CNN buyers if Time Warner divests, WSJ says
If Time Warner (TWX) were to divest CNN, which has been raised as a possiblity given the interest in Time Warner expressed by Fox News owner 21st Century Fox (FOXA), the "long list of potential buyers" would include CBS (CBS), Yahoo (YHOO) and Bloomberg LP, said The Wall Street Journal, citing media analysts and executives. Reference Link
08:33 EDTFOXALong 21st Century Fox, short Time Warner good in short-term, says BMO Capital
BMO Capital recommends a short-term trade of being long 21st Century Fox (FOXA) and shorting Time Warner (TWX), as the firm doesn't expect the deal to be completed any time soon. The firm expects Time Warner's stock to drop on profit taking, though it doesn't expect the shares to return to their prior levels.
08:32 EDTSBGISinclair Broadcast launches American Sports Network
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08:24 EDTFOXA21st Century Fox downgraded to Buy from Strong Buy at ISI Group
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08:05 EDTFOXATime Warner price target raised to $100 from $77 at Argus
Argus increased its price target on Time Warner (TWX) after 21st Century Fox (FOXA) made an $85 takeover bid for the company. The firm does not believe that Time Warner would consider an offer below $100. It keeps a Buy rating on the shares.
07:53 EDTFOXA21st Century Fox purchase of Time Warner logical at $100, says Wells Fargo
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07:32 EDTFOXATime Warner upgraded to Buy from Neutral at Janney Capital
As previously reported, Janney Capital upgraded Time Warner (TWX) to Buy and raised its fair value estimate on the stock to $100 following the takeover approach made by 21st Century Fox (FOXA). Janney estimates a merger would be neutral to Fox at $101 in an all-cash deal, but could be neutral to Fox at a price as high as $160 if it were an all-stock deal.
07:22 EDTFOXATime Warner price target raised to $90 from $80 at JPMorgan
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07:20 EDTFOXAFox would need to boost offer to pique Time Warner interest, WSJ reports
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06:37 EDTDIS, FOXAFox purchase of Time Warner would challenge ESPN, Reuters says
If 21st Century Fox (FOXA) buys Time Warner (TWX), Fox would mount a significant challenge to Disney's (DIS) ESPN, according to Reuters. An acquisition of Time Warner would add March Madness, prime-time NBA games, and more Major League Baseball games to Fox's already significant arsenal of popular sports events, the news service explained. Reference Link
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