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Stock Market & Financial Investment News

News Breaks
June 25, 2014
10:28 EDTCMCSA, MEG, SBGI, FOXA, GTN, CBS, DIS, NXSTBroadcasters 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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February 2, 2016
06:55 EDTFOXAFox eyes cutting $250M in expenses mainly through buyouts, WSJ says
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February 1, 2016
14:39 EDTFOXAFox eyes voluntary resignations to save $250M, Hollywood Reporter says
21st Century Fox is offering voluntary resignations in its film and TV networks units with a goal of reducing annual costs by $250M, reported The Hollywood Reporter, citing a memo to staff. Reference Link
13:54 EDTCBS, CMCSANFL says CBS to retain Thursday night rights, NBC added as partner
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13:33 EDTCMCSA, CBSCBS, NBC to split rights to Thursday Night Football, WSJ reports
The National Football League has agreed to a rights deal with CBS (CBS) and Comcast's (CMCSA) NBC under which each will broadcast five Thursday night games that also will be simulcast on the NFL Network, said The Wall Street Journal, citing people familiar with the matter. Each network will pay about $225M for the rights under the new deal, or $450M in total, which is an increase $300M CBS paid to the NFL this season, the report noted. Reference Link
13:20 EDTCMCSA, CBSNFL reaches deal with CBS, NBC for Thursday night football, Dow Jones says
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13:18 EDTCMCSA, CBSNFL near deal with CBS, NBC to split up Thursday games, Bloomberg says
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12:58 EDTFOXADreamWorks falls after Piper says 'Kung Fu Panda 3' missed expectations
Shares of DreamWorks Animation (DWA) dropped in midday trading after an analyst from Piper Jaffray said that the studio's new film "Kung Fu Panda 3" slightly underperformed his expectations, despite having topped the U.S. box office in its opening weekend. WHAT'S NEW: DreamWorks' newest picture "Kung Fu Panda 3," starring Jack Black, Dustin Hoffman and Angelina Jolie, topped the U.S. box office this past weekend after its release Friday, grossing $41M domestically. The film was produced by DreamWorks and distributed by 21st Century Fox (FOX), which also distributed the weekend runner-up "The Revenant," which grossed $12.4M in the U.S. WHAT'S NOTABLE: The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. 'SLIGHT' UNDERPERFORMANCE: Commenting on the movie's performance over the weekend, Piper Jaffray analyst James Marsh said in a note to clients that the movie's $41M debut figure was "solid" but still slightly missed the firm's expectations of $45M-$50M. Marsh noted that the movie grossed an "impressive" $58M in China, which set a new opening record for an animated movie in that region. The analyst added that "Kung Fu Panda 3" should still have a solid run over the next few weeks due to good reviews, minimal competition, President's weekend domestically and a Chinese New Year holiday abroad. Marsh maintained an Overweight rating and $31 price target on DreamWorks Animation. RECENT DOWNGRADE: Last week, Topeka analyst David Miller downgraded DreamWorks Animation to Sell from Hold with a $19 price target ahead of the "Kung Fu Panda 3" release, citing valuation. Miller said that shares had already reflected expectations for the movie and recommended that investors trim their positions. PRICE ACTION: In afternoon trading, DreamWorks Animation fell 6.7% to $23.92.
09:01 EDTGTNGray Television announces Chairman William Mayher III passed away
Gray Television announced that William E. Mayher, III, the Chairman of Board since August 1993, passed away yesterday in Athens, Georgia. Throughout his tenure, Mayher had been an active member of Board of Directors, serving on and chairing virtually every Board committee at various times.
08:54 EDTCMCSAComcast shares should be owned into Q4 results, says Pacific Crest
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07:13 EDTDISDisney price target lowered to $92 from $112 at Jefferies
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January 31, 2016
20:11 EDTFOXA, DIS, CMCSATime Warner, Hulu talks heat up over issue of current seasons, WSJ says
Time Warner's (TWX) negotiations to potentially buy into Hulu, a joint venture of Comcast (CMCSA, CMCSK), Fox (FOX, FOXA) and Disney (DIS), have been heating up lately over the issue of Hulu subscribers being able to view current-season TV shows, reports the Wall Street Journal, citing sources. Though the feature is a differentiator for Hulu when compared to Netflix (NFLX) and Amazon (AMZN), Time Warner believes the presence of full, current seasons contributes to cord cutting, the report says. Reference Link
18:07 EDTDIS, FOXA, CMCSA'Kung Fu Panda 3' swings to first, 'Finest Hours' lands in choppy waters
"Kung Fu Panda 3" topped the box office in its U.S. debut while nautical disaster drama "The Finest Hours" floundered. WEEKEND LEADER: "Kung Fu Panda 3," produced by DreamWorks (DWA) and distributed by Fox (FOX, FOXA), grossed $41M against expectations for $35M-$50M in its domestic debut during the weekend of January 31. The computer-animated action comedy, featuring the voices of Jack Black, Dustin Hoffman and Angelina Jolie, set a new box office record for January animated film openings but fell somewhat short of the $60.2M and $47.7M debuts seen by previous films in the franchise. BOX OFFICE RUNNERS-UP: "The Revenant," also from Fox, grossed $12.4M. Disney's (DIS) "Star Wars: The Force Awakens" took in an additional $10.8M and stands at $1.98B globally, while the company's "The Finest Hours" earned $10.3M in its domestic start despite an estimated $70M-$80M budget. Rounding out the top five was Universal's (CMCSA, CMCSK) "Ride Along 2" with $8.3M.
14:54 EDTNXSTNexstar 'remains eager' to reach agreement after Cox drops programming
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January 29, 2016
12:53 EDTFOXA, DIS, CMCSABox Office Battle: 'Kung Fu Panda 3' expected to kick 'Revenant' from top spot
DreamWorks Animation's (DWA) "Kung Fu Panda 3" featuring Jack Black is expected to break the record for the largest January opening for an animated feature, topping the opening of "The Nut Job" in 2014. The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. With a strong base of Po the Panda fans and the popularity of a recent TV show, conservative early estimates say "Panda 3" is expected to bring in $35M-$50M. Also opening this weekend are Disney's (DIS) "The Finest Hours," starring Chris Pine, and Open Road Films' "Fifty Shades of Black," starring Marlon Wayans. "The Finest Hours" may disappoint, with expectations topping out at $10M in its opening weekend. "Fifty Shades of Black," meanwhile, is the latest spoof movie from the team of Wayans and Michael Tiddes from "Haunted House" fame. The last film from Wayans had an opening weekend of $8.8M, and this one is currently expected to take in a similar amount. Both films will battle with Fox's (FOX, FOXA) survival story and Oscar contender "The Revenant," starring Leonardo Dicaprio, and Disney's (DIS) "Star Wars: The Force Awakens" for spots in the top five. "The Revenant" and "Star Wars" should each take in $9M-$12M even as they continue to lose theaters this coming weekend. Other publicly traded companies involved in filmmaking include Lionsgate (LGF), Comcast (CMCSA, CMCSK), and Sony (SNE).
06:14 EDTFOXASky names James Murdoch chairman, WSJ reports
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January 28, 2016
17:20 EDTNXSTNexstar comments on Cox making 'mischaracterizations'
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10:35 EDTMEG, NXSTCox Communications: Nextar, Media General merger 'not in the public interest'
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09:38 EDTDISActive equity options trading on open
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07:45 EDTSBGISinclair Broadcast to hold a conference call
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07:25 EDTMEGMeredith likely to be range bound for a few quarters, says Wells Fargo
After Meredith (MDP) and Media General (MEG) terminated their merger, Wells Fargo expects Meredith's stock to be range bound for a few quarters, since it believes that no M&A deals in the broadcast sector will take place until the spectrum auction is over 6-9 months from now. Wells says that Meredith's magazines business continues to weaken its results, and it keeps a Market Perform rating on the shares.
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