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Stock Market & Financial Investment News

News Breaks
July 29, 2013
19:56 EDTCBS, TWCCBS, Time Warner Cable extend negotiating deadline to 9 pm ET, Bloomberg says
News For CBS;TWC From The Last 14 Days
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February 3, 2016
16:32 EDTCBSViacom board expected to replace Redstone, CNBC's Faber says
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16:26 EDTCBSCBS says Shari Redstone offered, declined non-executive Chair role
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16:15 EDTCBSCBS jumps 3.7% after Redstone resigns as Executive Chairman
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16:14 EDTCBSCBS names Moonves as Chairman, Redstone to be Chairman Emeritus
CBS announced that Leslie Moonves has been elected the next Chair of the CBS Board of Directors. He also will continue to serve as President and Chief Executive Officer of CBS, positions he has held since 2006. Moonves' election by the Board follows the recent resignation of Sumner Redstone from his position of Executive Chairman, which was effective February 2, and his appointment to the role of Chairman Emeritus. Shari Redstone, Mr. Redstone's daughter, will continue to serve as Vice Chair of the CBS Board.
16:12 EDTCBSCBS says Redstone resigns as Executive Chairman, Moonves named Chairman
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15:37 EDTTWCCharter pressing California to expedite Time Warner Cable review, CTFN says
Charter (CHTR) is asking the California Public Utilities Commission to expedite its review of the company's proposed merger with Time Warner Cable (TWC) and Bright House, saying additional delays would cause significant financial costs, reports CTFN, citing a conference call between Charter and the Commission. Charter also told the Commission that, if it were to rush approval to April 21, the company could participate in the upcoming FCC spectrum auction, CTFN said. Reference Link
February 2, 2016
15:46 EDTCBSEarnings Watch: Media networks report amid shifts in streaming, TV landscape
Comcast (CMCSA), CBS (CBS), Time Warner (TWX), Viacom (VIA), and 21st Century Fox (FOX) are among media companies expected to report quarterly results over the next several weeks. EXPECTATIONS: Comcast is expected to report EPS of 82c on revenue of $18.77B, CBS is expected to report EPS of 93c, Time Warner is expected to report EPS of $1.00 on revenue of $7.53B, Viacom is expected to report EPS of $1.18 on revenue of $3.26B, and Fox is expected to report EPS of 44c on revenue of $7.54B. LAST QUARTER: Comcast, Fox, and viacom reported mixed results for the previous quarter, while CBS and Time Warner beat on both top and bottom lines. NEWS: On November 10, Comcast announced it expanded its advanced fiber network to Modesto, California as part of the company's ongoing response to Google (GOOG) Fiber. On November 12, the Wall Street Journal broke news that Hulu, a video streaming joint venture of Disney (DIS), Comcast and Fox, is in talks to sell a stake to Time Warner, though the Journal said on January 31 that the company has expressed dissatisfaction with Hulu's inclusion of current-season TV episodes, which it believes contributes to cord-cutting. On December 2, the Wall Street Journal reported that YouTube was holding talks with Hollywood studios and production companies to seek content licenses amid intensified competition with Netflix (NFLX), Amazon (AMZN), and Hulu. On December 9, Re/code reported that Apple (AAPL), rumored to be working on a subscription TV service, walked away from its negotiations with the major networks after being pressed to include "filler" channels in its hypothetical service. Speaking at a January 7 media conference, Time Warner CFO Howard Averill said the company was negotiating to make full seasons of TV shows available to pay-TV customers on demand, mirroring the "binge watching" offered by Netflix. On January 8, the New York Post reported that Corvex Management was considering an activist position in Time Warner. That same day, Benzinga reported that Twenty-First Century Fox remained interested in the company and had made a $105 per share acquisition offer, though Fox later denied the report. On January 14, the New York Post reported that Comcast has begun "ripping up" agreements with cable networks, moving them from basic cable onto digital tiers in response to consumer demand for smaller bundles. On January 27, Reuters reported that SpringOwl Asset Management is urging Viacom to seek outside investment from strategic partners. On January 30, the New York Post reported that Nelson Peltz is considering an activist position in Time Warner. On February 1, the National Football League announced a broadcasting agreement with CBS and Comcast's NBC which will see the two companies paying roughly $225M each for rights to the next two seasons of Thursday Night Football. Also on February 1, it was reported that Fox offered certain employees voluntary buyouts as part of a $250M cost cutting target. STREET RESEARCH: On November 5, Wells Fargo analyst Marci Ryvicker downgraded Time Warner to Market Perform after its "huge" guidance cut last quarter, with the shares also seeing downgrades at CLSA and Bank of America Merrill Lynch. On December 22, Morgan Stanley analyst Benjamin Swinburne called Comcast one of his top large cap picks for 2016, saying the company can use skinny bundles to take market share and potentially add net video customers for the first time since 2006. On January 8, research firm Stifel cut its price target on CBS to $54 from $66, citing a belief that industry syndication and SVOD revenues will significantly decelerate going forward, with CBS having more exposure to those areas than its peers. Meanwhile, JPMorgan added the company to its U.S. focus list on January 11, citing its heavily discounted stock and potentially strong EPS growth in 2016. On February 1, Pacific Crest argued that Comcast shares should be owned going into fourth quarter results, contending that the company's video and broadband investments will likely translate to increased market share and strong cash flows this year. PRICE ACTION: Comcast and Fox, the first of the media giants to report quarterly earnings, are down 2% and 3.6%, respectively, amid the broader market selloff.
07:22 EDTTWCScripps, TWC, reach multiyear retrans agreement, Broadcasting & Cable says
Scripps (SNI) and Time Warner Cable (TWC) have quietly reached a multi-year retransmission consent deal for stations representing more than 3M households in 14 markets, Broadcasting & Cable reports, citing a broadcast source familiar with the deal. The agreement also includes certain Bright House cable systems, the report says. Affected markets include Bakersfield, Cleveland, Cincinnati, Denver, Detroit, Green Bay, Indianapolis, Kansas City, Nashville, Omaha, Milwaukee, San Diego and Tampa, the report says. Reference Link
February 1, 2016
13:54 EDTCBSNFL says CBS to retain Thursday night rights, NBC added as partner
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13:33 EDTCBSCBS, 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 EDTCBSNFL reaches deal with CBS, NBC for Thursday night football, Dow Jones says
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13:18 EDTCBSNFL near deal with CBS, NBC to split up Thursday games, Bloomberg says
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January 28, 2016
09:38 EDTTWCActive equity options trading on open
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08:57 EDTTWCTime Warner Cable working with FCC, DoJ to get Charter deal approved
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06:12 EDTTWCTime Warner Cable reports Q4 Residential Services revenue $4.81B
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06:10 EDTTWCTime Warner Cable reports customer relationship net additions of 200K for Q4
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06:02 EDTTWCTime Warner Cable reports Q4 adjusted OIBDA $2.13B
06:02 EDTTWCTime Warner Cable reports Q4 EPS $1.80, consensus $1.78
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January 27, 2016
14:34 EDTTWCNotable companies reporting before tomorrow's open
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09:07 EDTCBSCBS signs long-term licesing agreement for Showtime programming in Australia
CBS and Stan, a joint venture between Nine Entertainment Co. and Fairfax Media, signed a long-term, exclusive licensing agreement that will bring all future Showtime series and programming to the Australian streaming service. CBS has signed similar exclusive deals for Showitme with Sky in Europe and Bell Media in Canada.
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