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Stock Market & Financial Investment News

News Breaks
July 16, 2014
16:34 EDTCBSO, CBSCBS Outdoor completes separation from CBS and REIT conversion
CBS Outdoor Americas (CBSO) announced its full separation from CBS (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 will begin operating as a real estate investment trust and intends 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, 2014 with respect to certain issues relevant to the company’s qualification to be taxed as a REIT. “Achieving our independence and beginning to operate as a REIT are two important steps in our strategic transformation with significant benefits for shareholders,” said Jeremy Male, CEO. “CBS was very supportive as a parent and we thank them for the opportunity to be steering the company independently. Later this year, our rebranding will reposition the company during this exciting time in the out-of-home industry as it continues to evolve and adopt new technologies that add value and relevancy to our media.”
News For CBSO;CBS From The Last 14 Days
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June 24, 2015
08:25 EDTCBSNetflix on pace to have larger audience than all networks, FBR says
FBR Capital analyst Barton Crockett says that while Netflix (NFLX) is not rated by Nielsen (NLSN), the 10B hours streamed in Q1 reported by the company are equivalent to having a 24-hour rating of 2.6, on par with Disney's (DIS) ABC and Comcast's (CMCSA) NBC. And while ratings at broadcasters are falling on average, Netflix is growing its ratings at a 40%-plus compound annual rate, Crockett tells investors this morning in a research note. At this pace, Netflix in a year will have a larger 24-hour audience than all broadcast networks, he contends. Regarding last night's 7-for-1 stock split announcement, Crockett says the move reflects management's confidence in the "durability of the recent stock surge." For perspective, three years ago Netflix shares were around $60. This morning they are trading up $18.69 to $699.88 in the pre-market. Crockett has an Outperform rating on the streaming service with a $900 price target.
June 23, 2015
13:09 EDTCBSHulu to sell Showtime premium package for subscribers
Hulu (DIS;NWSA;CMSA) will sell Showtime Networks' (CBS) Internet streaming service to subscribers in early July, reports Variety. Hulu will offer Showtime to its subscribers for $8.99 in addition to the $7.99 fee Hulu subscribers pay per month.Reference Link

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