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Stock Market & Financial Investment News

News Breaks
May 1, 2012
13:34 EDTCBSEarnings preview: Advertising trends will be scrutinized in CBS's Q1
CBS (CBS) is expected to report Q1 earnings after the market close on Tuesday, May 1 with a conference call scheduled for 4:30pm ET. Analysts are looking for EPS of 44c on revenue of $3.78B. The consensus range is 38c-48c for EPS, and $3.69B-$3.89B for revenue, according to First Call. Positives for the media company's quarter may be seen coming from political ad spending. At an industry conference in late February, CEO Les Moonves said Q1 advertising trends are "good," substantially better than Q4. Revenue boosts may be also seen coming from from digital streaming and retransmission. A possible negative for the quarter may be seen from a slowdown in economic growth and any impact that has on corporate advertising spending. On April 9, Citigroup downgraded CBS to Neutral from Buy citing valuation and kept a $35 price target for the stock. On April 18, JPMorgan raised its estimates for CBS, citing steady ad trends and contributions from non-advertising streams. The firm expects the company to report solid Q1 results and raised its price target for shares to $38 from $35.
News For CBS From The Last 14 Days
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August 31, 2014
13:50 EDTCBSNomura to hold a conference
Digital Media Conference 2014 to be held in New York on September 3-4.
August 28, 2014
08:32 EDTCBSLIN Media overhang should be removed by deal, says Wells Fargo
After LIN Media (LIN) and CBS (CBS) signed a long-term affiliation agreement involving ten stations, Wells Fargo thinks the deal removes "a pretty significant overhang" on LIN's stock, since most of its affiliation deals with CBS expire on January 1, 2015, according to the firm.
07:32 EDTCBSCBS, LIN Media sign deal to renew station affiliation agreements
CBS (CBS) announced a deal with LIN Media (LIN) to renew existing station affiliation agreements for 12 LIN stations in ten markets nationwide.
07:30 EDTCBSLIN Media, CBS renew network affiliation agreements in 10 markets
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August 25, 2014
10:44 EDTCBSGray Television renewal with CBS removes overhang, says Wells Fargo
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08:31 EDTCBSCBS, Gray Television sign affiliation deal
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August 21, 2014
06:20 EDTCBSCBS seeking bigger share of pay-television revenue from affiliates, WSJ reports
CBS last week stripped an Indianapolis station of its affiliation due to a fee disagreement as it seeks a bigger share of pay-television revenue, reports the Wall Street Journal. The Indianapolis station's owner LIN Media (LIN) was set to be acquired by Media General (MEG) for $1.6B this year, but Media General cut its acquisition price Wednesday by 7%, or more than $100M, with the move from CBS cited as one of the reasons. According to Gabelli & Co., the lack of a CBS affiliation may cost the statio tens of millions of dollars in annual revenue to decline. Reference Link

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