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Stock Market & Financial Investment News

News Breaks
February 14, 2013
18:18 EDTCBSCBS CEO Moonves: We had our best Q4 ever in all profit measures
On CBS' (CBS) Q4 earnings conference call, CEO Les Moonves said, "We had our best fourth quarter ever in all profit measures, including OIBDA, operating income and EPS. Our sources of high-margin growth are hitting on all cylinders, and as a result we are driving earnings like never before. 2013 is going to be an even better year with significant growth in retrans, reverse compensation, digital streaming, and domestic and international syndication." Moonves said the company was looking at significantly higher retrans revenue for 2013, and it was ahead of its target of reaching $1B in revenue from retrans by 2017, possibly sooner. He noted that the syndication pipeline remains very robust, and expects 2013 to be a "tremendous year."
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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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