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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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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
June 17, 2015
12:15 EDTCBSNexstar and CBS enter into affiliation agreement renewals
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