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Stock Market & Financial Investment News

News Breaks
February 14, 2013
13:01 EDTCBSEarnings Preview: REIT spin-off plans put CBS near all-time high into Q4 report
CBS (CBS) is set to report Q4 earnings after the market closes on Thursday, February 14, with a conference call scheduled for 4:30 pm ET. CBS is a media company that operates entertainment, cable networks, publishing, local broadcasting, and outdoor segments... EXPECTATIONS: Analysts are looking for EPS of 69c on revenue of $3.79B, according to First Call. The consensus range for EPS is 65c-75c, on revenue of $3.7B-$3.96B... LAST QUARTER: CBS reported Q3 adjusted EPS of 65c against estimates for 61c, on revenue of $3.42B against estimates for $3.49B. On January 16, CBS announced that it will seek to convert its Outdoor Americas advertising unit into a real estate investment trust, or REIT. Following the news, shares of CBS surged over 7% to all-time highs. Earlier this week, CBS announced a content licensing agreement with Amazon (AMZN) that expanded the amount of CBS content that would be available for streaming via Amazon's Prime Instant Video Service... STREET RESEARCH: Street Research has been generally positive on CBS, with the company's plan to spin-off its Outdoor Americas unit into a REIT getting a broad and positive reception on the Street. Following the January announcement for its REIT spin-off plans, at least three firms raised their price target on CBS. Wedbush also upgraded the stock to Outperform from Neutral, following the REIT spin-off plans, raising its price target on shares to $50 from $36. On January 23, Wells Fargo reduced its Q4 EPS estimate for CBS, citing lower on demand and political revenue, though the firm maintained its Outperform rating on the stock... PRICE ACTION: Shares of CBS have gained more than 24% since the company's Q3 report. Shares of CBS are trading down about 0.5% in early afternoon trading ahead of its Q4 report.
News For CBS From The Last 14 Days
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July 18, 2014
12:21 EDTCBSCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
08:21 EDTCBSTime Warner merger could change Warner Bros. spot in tv landscape, WSJ says
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07:05 EDTCBSCBS CEO says will examine CNN if Time Warner puts up for sale, Reuters says
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July 17, 2014
08:42 EDTCBSCBS, Yahoo among potential CNN buyers if Time Warner divests, WSJ says
If Time Warner (TWX) were to divest CNN, which has been raised as a possiblity given the interest in Time Warner expressed by Fox News owner 21st Century Fox (FOXA), the "long list of potential buyers" would include CBS (CBS), Yahoo (YHOO) and Bloomberg LP, said The Wall Street Journal, citing media analysts and executives. Reference Link
July 16, 2014
16:34 EDTCBSCBS Outdoor completes separation from CBS and REIT conversion
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12:26 EDTCBSOn The Fly: Midday Wrap
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11:45 EDTCBSMedia stocks rally after Time Warner rejects Fox bid
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07:30 EDTCBSTime Warner turned down $80B offer from 21st Century Fox, NYT says
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05:58 EDTCBSCBS CEO says 'willing to talk' to Aereo, VentureBeat reports
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