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Stock Market & Financial Investment News

News Breaks
August 7, 2014
13:25 EDTDIS, TWX, CBSO, FOXA, CBS, CMCSA, FOXEarnings Preview: CBS shares little changed since Q1 report
CBS (CBS) is set to report second quarter earnings after the market close on Thursday, August 7, with a conference call scheduled for 4:30 pm ET. CBS is a diversified media company that operates entertainment, cable networks, publishing, local broadcasting, and outdoor segments. EXPECTATIONS: Analysts are looking for adjusted earnings per share of 72c on revenue of $3.23B, according to Bloomberg. The consensus range for EPS is 68c-76c, on revenue of $3.15B-$3.31B. LAST QUARTER: CBS reported first quarter adjusted EPS of 78c against estimates for 75c on revenue of $3.86B against estimates for $3.92B. CBS also reported a repurchase of $2B or 31.4M shares in Q1. As of March 31, the company had $3.43B of authorization remaining on its share repurchase program. COMPANY NEWS: On June 25, 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. 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." Shares of TV network broadcasters such as Disney (DIS), which owns ABC Network, 21st Century Fox, the owner of Fox, and Comcast (CMCSA), which owns NBC, rose following the news. Reuters reported on July 18 that CBS CEO Leslie Moonves said the firm would examine Time Warner's (TWX) CNN if it goes up for sale as part of a merger with Rupert Murdoch's Twenty-First Century Fox (FOX, FOXA). CBS OUTDOOR SPIN-OFF: On July 16, CBS Outdoor Americas (CBSO) announced its full separation from CBS through the completion of an exchange offer by CBS Corporation of its 81% ownership of the company’s common stock, and following an initial public offering of 19% of the company’s common stock on March 28. As a result, the company is no longer a subsidiary of CBS Corporation. On July 17, the company began operating as a real estate investment trust and intended to elect and qualify to be taxed as a REIT for the remainder of the fiscal year ending December 31, and for subsequent tax years. The Internal Revenue Service issued a private letter ruling on April 16 with respect to certain issues relevant to the company’s qualification to be taxed as a REIT. STREET RESEARCH: Wall Street research has been fairly quiet on CBS during the quarter. Wells Fargo said on June 11 that CBS's split off of CBS Outdoor was 'positive' for both companies and believed the CBS Outdoor REIT conversion process would occur "much earlier" while CBS could announce a 2.75-3.0 times target leverage ratio earlier than anticipated. The firm had Outperform ratings on both stocks. In regards to the Aereo ruling, On June 25, Wells Fargo said the Supreme Court ruling against Aereo is "clearly a positive" for broadcasters. The firm continued to like stocks in the space, particularly CBS due to near-term catalysts and an attractive valuation. Barclays initiated the U.S. media sector with a Neutral rating on July 8 and said that the new distribution platforms could lead to less leverage and market share loss for the industry overall. CBS was given an Equal Weight rating. PRICE ACTION: CBS shares are up 1.89% since the first day of trade following its Q1 report. In afternoon trading ahead of its Q2 report, CBS is down 0.4% to $57.41.
News For CBS;TWX;FOX;FOXA;DIS;CMCSA;CBSO From The Last 14 Days
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December 9, 2014
06:48 EDTTWX, CBS, CMCSA, FOXA, DISAnalysts 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
December 8, 2014
14:36 EDTCMCSATime Warner Cable CEO reports strong trends in October, November, says UBS
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10:00 EDTTWX, CBS, FOXAOn The Fly: Analyst Initiation Summary
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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
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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16:55 EDTTWXTime Warner initiated with a Buy 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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December 4, 2014
17:58 EDTDISDisney should continue to deliver returns, Barron's says
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16:27 EDTFOXA, CBSOn The Fly: Closing Wrap
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15:58 EDTFOXA, CBSStarz weighs alternate option after failing to find buyer, Bloomberg reports
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09:47 EDTCBSCBS, DISH not currently in negotiations, CNBC reports
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09:45 EDTCBSCBS has no interest in acquisition of Starz, CNBC's Faber says
CBS (CBS) has no interest in pursuing an acquisition of Starz (STRZA), according to CNBC's David Faber, citing sources.
06:10 EDTTWXDirecTV contract with HBO has clauses for streaming, WSJ reports
DirecTV's (DTV) contract with Time Warner's (TWX) HBO has clauses should the premium channel's streaming-video service sign up more than 450,000 subscribers nationally, Wall Street Journal reports, citing people familiar with the matter. If the subscriber number is hit, DirecTV could scale back its marketing of HBO and get the right to offer the streaming product, the Journal adds. Reference Link
December 3, 2014
16:08 EDTDISDisney increases annual dividend 34% to $1.15 per share
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16:07 EDTDISDisney increases annual dividend 34% to $1.15 per share
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11:19 EDTCMCSAOpponents of Comcast-TWC deal form coalition, Re/code reports
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10:50 EDTCMCSAFCC restarts clock on Time Warner Cable/Comcast and AT&T/DirecTV deals
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