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Stock Market & Financial Investment News

News For CMCSA;CVC;DIS;TWC;VZ From The Last 14 Days
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May 6, 2015
12:47 EDTTWC, CVC, CMCSACablevision CEO says doesn't need scale to compete
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12:21 EDTTWC, CVCCablevision CEO says he wants to consolidate NY market, Bloomberg reports
Cablevision (CVC) CEO James Dolan said that he wants to consolidate the New York market and wants a deal with Time Warner Cable (TWC), according to Bloomberg, citing Dolan's comments while speaking at a cable industry conference. Cablevision shares are up 5.8% to $21.53 in early afternoon trading.
12:20 EDTCVCCablevision calls active as shares trade near four-year high
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09:36 EDTDISActive equity options trading on open
Active equity options trading on open: AAPL FB BAC HLF EA GRPN EXPD DIS BABA
09:31 EDTCMCSAComcast to launch 4K ultra high-definition set-top box
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07:35 EDTDISDisney price target raised to $121 from $110 at JPMorgan
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05:54 EDTCMCSAComcast adding 'thousands' of jobs in customer support, AP reports
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May 5, 2015
18:10 EDTDISOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were lower for the day. The market began the session in negative territory and remained there throughout the day, taking cues from similar losses in European indexes. ECONOMIC EVENTS: In the U.S., the trade balance deficit grew 43% to $51.4B., significantly higher than analyst expectations for a move to $41.2B. Markit's services PMI declined to 57.4 for April, missing forecasts of 57.8. The Institute for Supply Management's non-manufacturing April PMI was 57.8, beating the anticipated 56.2 reading. WTI crude oil settled up 1.86, or 3.16%, at $60.79 per barrel. In China, the Shanghai Composite Index fell 4.1% on reports of increased margin requirements. COMPANY NEWS: Shares of Salesforce (CRM) advanced 5.92% to $75.84 and were halted near 3:00 pm ET after reports that Microsoft (MSFT) was considering placing a bid for the company, though those rumors were downplayed as the afternoon continued... Disney (DIS) stock rose roughly 1% before finishing the session down fractionally after the company's second quarter results beat analyst expectations. During a CNBC interview, CEO Bob Iger remarked that the company's movie studio business currently has "no holes to fill" after "Avengers: Age Of Ultron" topped box office charts for its opening weekend. MAJOR MOVERS: Among the notable gainers was Cliffs Natural (CLF), which rose 12.29% after reports that Quebec province is prepared to buy a rail line, certain port facilities, and 20% of Bloom Lake mine from the company. Also higher were shares of Netflix (NFLX), advancing 1.92% for the day to finish at $565.55 after BofA/Merrill upgraded the company by a full two ratings to Buy. The firm raised its price target to $722 from $350, citing strong original content and "enormous" international opportunities. Among the noteworthy losers was Avon (AVP), falling 11.87% after the New York Post reported that Coty (COTY) and certain private equity firms may have lost interest in acquiring the company due to financing difficulties. Also lower were multiple companies in the containerboard market, with International Paper (IP), KapStone Paper (KS), Packaging Corp. (PKG), RockTenn (RKT) and MeadWestvaco (MWV) all declining 2%-5% after the IRS proposed rules which analysts believe could exclude papermakers from master limited partnerships. INDEXES: The Dow was down 142.20, or 0.79%, to 17,928.20, the Nasdaq was down 77.60, or 1.55%, to 4,939.33, and the S&P 500 was down 25.03, or 1.18%, 2,089.46.
12:16 EDTDISOn The Fly: Top stock stories at midday
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11:55 EDTCMCSAComcast expands Xfinity Home business by integrating new partner devices
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11:54 EDTCMCSAComcast introduces voice-controlled TV remote
Comcast announced the consumer launch of its new remote control that allows customers to navigate tens of thousands of shows and movies on the X1 platform with their voice. The new Xfinity remote with voice control lets viewers search for networks, shows and movies; set DVR recordings; get recommendations; navigate Xfinity On Demand and more.
11:09 EDTTWCTime Warner Cable to participate in a Q&A session
Executive Vice President and Chief Financial Officer Minson participates in a Q&A session being held in conjunction with The Internet & Television Expo in Chicago on May 6 at 2 pm. Webcast Link
10:15 EDTDISDisney CEO says technology a 'friend' of high-quality media
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10:08 EDTDISDisney says A&E 'still a really good brand,' says supports management
A&E Television Networks is a joint venture between Disney and Hearst Corporation.
10:06 EDTDISDisney says 'no question we are seeing a new advertising reality'
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09:54 EDTDISDisney says 'no disturbing trend' regarding expanding basic bundle
09:53 EDTDISDisney says hasn't seen many 'skinny packages' attractive to customers
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09:46 EDTDISDisney sees 'relatively flat' Cable programming, production costs in 2H
Disney (DIS) sees Shanghai Disney opening in about a year. Says will release more details on Shanghai Disney this summer. Says new "Star Wars" trailer has over 200M views. Expects launch of new "Star Wars" movie will accelerate growth of franchise. Says total viewership across ESPN channels up 9% in Q2. Says "impressed" with "Daredevil," says Netflix (NFLX) has ordered second season. Sees relatively flat Cable programming and production costs in 2H, says FY outlook "unchanged." Says ESPN ad revenue up 18% in Q2; says so far in Q3, ESPN ad sales pacing down 2 percentage points. Says continues to be "pleased" with performance of Studio slate. Comments made on the Q2 earnings conference call. Disney is up 0.78% to $111.90 in morning trading.
09:38 EDTDISActive equity options trading on open: AAPL TWTR NFLX TSLA BAC DIS BIDU
Active equity options trading on open: AAPL TWTR NFLX TSLA BAC DIS BIDU
09:13 EDTDISOn The Fly: Pre-market Movers
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09:12 EDTDISDisney CEO sees free cash flow continuing to be 'robust'
Disney CEO Bob Iger spoke on CNBC.
09:07 EDTDIS, VZDisney CEO says company has taken legal action against Verizon
Disney (DIS) CEO Bob Iger said the company has taken legal action against Verizon (VZ) in relation to cable bundling. Iger contends Verizon violated its agreement with Disney's networks, such as ESPN. Iger is speaking on CNBC.
09:06 EDTDISDisney CEO says Marvel film success 'well beyond' initial expectations
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09:03 EDTDISDisney CEO says all business units performed well in Q2
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08:09 EDTDISDisney reports Q2 media networks revenue $5.81B
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08:00 EDTDISDisney reports Q2 adjusted EPS $1.23, consensus $1.11
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07:46 EDTCMCSAComcast Q1 results were solid, says Brean Capital
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07:16 EDTCMCSANational Cable & Telecommunications Association to hold an expo
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06:12 EDTDISDisney May volatility elevated into Q2 and outlook
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06:09 EDTCMCSACisco to deliver video programming, broadband access to subscribers, WSJ says
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05:26 EDTVZT-Mobile launches 'Never Settle Trial' for Verizon customers
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May 4, 2015
18:12 EDTCMCSAComcast looks undervalued, Barron's says
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16:26 EDTDISOn The Fly: Top stock stories for Monday
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15:49 EDTCVCGabelli reports 8.99% stake in Cablevision
15:26 EDTDISDisney May 111 weekly straddle priced for 3.7% movement into Q2
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15:01 EDTDISNotable companies reporting before tomorrow's open
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13:46 EDTVZ, DISEarnings Watch: Analysts largely positive on Disney ahead of earnings
The Walt Disney Company (DIS) is scheduled to report second quarter earnings before the market opens on Tuesday, May 5 with a conference call scheduled for 9:30 am ET. The Walt Disney Company is a diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. EXPECTATIONS: Analysts are looking for earnings per share of $1.10 on revenue of $12.25B, according to First Call. The consensus range for EPS is $1.03-$1.18 on revenue of $11.89B-$12.82B. LAST QUARTER: Disney reported first quarter EPS of $1.27 on revenue of $13.39B, beating estimates for $1.07 and $12.87B, respectively. The company said its cable networks operating income declined 2% to $1.3B in the quarter due to a decrease at ESPN, and its Parks and Resorts revenue was $3.9B vs. $3.6B a year ago. Media Networks revenue for Q1 was $5.86B vs. $4.29B in the year-ago period and Studio Entertainment revenue was $1.86B vs. $1.89B in the year-ago period. During its earnings conference call, the company said cable programming costs were expected to rise 25% in the first half of 2015 and would be flat in the second half of the year. NEWS: During the quarter, Disneyland executives sent multiple emails to the California Department of Public Health urging it to emphasize that the theme park was not responsible for the recent measles outbreaks and was safe for vaccinated people, according to The Associated Press, citing obtained documents. The report noted that "there is no evidence" the company tried to downplay the seriousness of the issue or give misleading statements. In a CNBC interview, Disney Chief Executive Officer Bob Iger said a wearable device is "coming" for park access. Disney/ABC Television Group and Yahoo (YHOO) announced an extension and expansion of their relationship in March. The companies said "content from hit shows across DATG will be featured on Yahoo." At its annual shareholder meeting, Disney said it would premiere three "Star Wars" films between now and May 2017, and said its studio is "at work" on "Frozen 2." Disney is investing $250M in online fantasy sports business DraftKings, said The Wall Street Journal.Disney/ABC Television Group digital chief Albert Cheng is leaving the company, Deadline said. Disney's ESPN objected to Verizon FiOS's (VZ) plans to break up the traditional TV bundle, The Wall Street Journal reported, and The New York Times said Disney refused to run commercials for FiOS' a la carte package on its stations. ESPN filed a breach of contract suit against Verizon over the "flexible bundle," Re/code reported. The Laurene Powell Jobs Trust reported a 7.7% passive stake in Disney in March. STREET RESEARCH: Jefferies raised its price target for Disney shares to $120 from $105 and kept a Buy rating on the stock after analyzing the potential contribution of Shanghai Disneyland. The firm expects attendance at the park to approach 18M and EBIT just north of $250M by 2021. Citigroup analyst Jason Bazinet raised his price target for Disney shares to $125 from $110 on April 27, saying the media giant has an "impressive slate of films" slated for release in 2015–2017. Bazinet, who has a Buy rating on the stock, expects Disney will continue taking share of the global box office. JPMorgan expects Disney to report another quarterly beat relative to consensus expectations amid ongoing strength at the Parks and Consumer Products. UBS raised its price target on Disney to $125 from $116 ahead of the company's earnings report to reflect higher estimates for content and theme parks and their effect on free cash flow. The firm has a Buy rating on shares. PRICE ACTION: Year-to-date, Disney shares are up over 17.5%. Ahead of Tuesday morning's earnings report, shares are trading up 0.2% to $110.75.
13:17 EDTDISOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after having opened in positive territory and showing little movement in the early half of the day. ECONOMIC EVENTS: In the U.S., factory orders climbed 2.1% in March, which was roughly in-line with expectations. The New York ISM current business conditions index jumped to 58.1 in April from a prior reading of 50. In China, the final Purchasing Managers’ Index from HSBC and Markit for April came in at 48.9, which was below the preliminary reading of 49.2 and missed the consensus forecast of 49.4. In Europe, Markit's purchasing managers index for the eurozone’s manufacturing sector fell to 52.0 in April from 52.2 in March. COMPANY NEWS: Dow Chemical (DOW) announced it will cut approximately 1,500-1,750 positions, or approximately 3% of its global workforce, as part of streamlining the organization ahead of the company’s pending separation of a significant portion of its chlorine value chain... McDonald's shares declined fractionally after the company revealed details about the initial steps of the company's turnaround plan. The company said it will restructure its business into four new segments, accelerate the pace of its refranchising and reach the top end of its 3-year $18B-$20B cash return to shareholders target by the end of 2016... Cisco (CSCO) announced that Chuck Robbins will take over as CEO and that John Chambers will assume the role of executive chairman on July 26... Disney (DIS) moved up its second quarter earnings release and conference call following the sudden death of David Goldberg, the CEO of SurveyMonkey and husband of Facebook (FB) COO and Disney Board member Sheryl Sandberg. MAJOR MOVERS: Among the notable gainers was Array BioPharma (ARRY), which rose more than 15% after the company reported on its quarterly results and provided pipeline updates for binimetinib and encorafenib. Also higher after its earnings report was BroadSoft (BSFT), which gained almost 15%. Among the noteworthy losers was Spark Therapeutics (ONCE), which fell 4% after the New England Journal of Medicine published a study that found gene therapy created by another company that previously helped restore sight in patients with a rare form of childhood blindness peaked one to three years after treatment and had diminished by six years. Also lower were shares of Pioneer Natural Resources (PXD), which were down about 3% in afternoon trading after David Einhorn of Greenlight Capital spoke cautiously about the company and the fracking space in general while presenting at the Ira Sohn investor conference. INDEXES: Near midday, the Dow was up 64.48, or 0.36%, to 18,088.54, the Nasdaq was up 19.74, or 0.39%, to 5,025.13, and the S&P 500 was up 7.62, or 0.36%, to 2,115.91.
10:39 EDTVZ, CVCCablevision says cord-cutter package 'a reaction to consumer wants'
Cablevision (CVC) says Verizon (VZ) "known to use misleading" advertising information. Says Verizon "doesn't seem to think much of programming agreements." Says company's packages "totally sustainable."
10:29 EDTCVCCablevision says studying cable industry consolidation
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10:27 EDTCVC, TWC, CMCSACablevision: 'Everybody surprised' that Comcast-Time Warner Cable deal failed
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10:26 EDTCVCCablevision calls audience TV measurement 'broken'
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10:16 EDTCVCCablevision sees 2015 AOCF, CapEx 'substantially similar' to 2014
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10:05 EDTDISDisney volatility elevated into Q2 and outlook
Disney May weekly call option implied volatility is at 47, May is at 33, June is at 23, July is at 22; compared to its 52-week average of 23, suggesting large near term price movement into the expected release of Q2 before the market open on May 5.
08:36 EDTVZMicronet Enertec subsidiary enters into purchase agreement
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07:45 EDTDISTheater owners upset by Disney conditions on 'Avengers' sequel, WSJ says
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07:33 EDTCVCCablevision reports Q1 Cable net revenues $1.452B
Cable net revenues for the first quarter 2015 increased 2.4% to $1.452 billion, AOCF increased 0.8% to $446.6 million and operating income increased 1.0% to $252.1 million, all compared with the prior year period. For the first quarter 2015, Lightpath net revenues increased 5.0% to $91.1 million, AOCF increased 12.8% to $43.4 million and operating income increased 10.4% to $19.3 million, each as compared with the prior year period. First quarter "Other" net revenues increased 0.4% to $81.8 million, AOCF deficit decreased 23.9% to $35.9 million and operating loss decreased 20.6% to $47.6 million, all compared with the prior year period.
07:32 EDTCVCCablevision reports total customers as of March 31 of 3.112M
07:31 EDTCVCCablevision reports Q1 cont ops EPS 20c, consensus 17c
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07:30 EDTDISDisney price target raised to $125 from $116 at UBS
UBS raised its price target on Disney to $125 from $116 to reflect higher estimates for content and theme parks and their effect on free cash flow. UBS reiterated its Buy rating on Disney shares.
07:29 EDTVZT-Mobile on pace to overtake Sprint as third among U.S. carriers, Bloomberg says
T-Mobile's (TMUS) subscriber growth rate puts it on pace to overtake Sprint (S) as the third largest U.S. carrier behind Verizon (VZ) and AT&T (T) in terms of subscriber count, reported Bloomberg, which noted that T-Mobile's spot as number three in the U.S. could be confirmed when Sprint reports on its earnings on Tuesday. Reference Link
07:11 EDTDISDisney adjusts time of earnings release to about 8am EDT Tuesday, May 5
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06:31 EDTVZSpherix Cisco files complaint against Verizon and Cisco
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06:06 EDTCMCSAComcast reports Q1 NBCUniversal revenue up 7.9% to $6.6B
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06:05 EDTCMCSAComcast reports Q1 Cable Communications revenue up 6.3% to 11.43B
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06:03 EDTCMCSAComcast plans to repurchase additional $2.5B during 2015
Comcast announced that it plans to repurchase an additional $2.5B during 2015, subject to market conditions, bringing its total 2015 share repurchase plan to $6.75B.
06:02 EDTCMCSAComcast reports Q1 adjusted EPS 79c, consensus 74c
Reports Q1 revenue $17.85B, consensus $17.41B. Reports Q1 revenue excluding Olympics and Super Bowl up 7.2% to $17.48B.
May 3, 2015
17:09 EDTTWC, CMCSACharter holds informal merger talks with Time Warner Cable, WSJ says
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16:44 EDTDIS, CMCSADisney's 'Avengers: Age Of Ultron' leads U.S. weekend box office with $187.7M
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May 1, 2015
12:18 EDTVZCogent, Verizon enter into interconnection agreement
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12:17 EDTVZCogent, Verizon enter into interconnection agreement
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07:39 EDTDISDisney volatility elevated into Q2 and outlook
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April 30, 2015
19:31 EDTTWCTime Warner, Charter in acquisition talks with Bright House, WSJ says
Time Warner Cable (TWC) and Charter (CHTR) have both approached Bright House to discuss an acquisition of the company, the Wall Street Journal reported earlier, citing sources. If Charter were to acquire Bright House, the move could be a "steppingstone" to pursue Time Warner Cable itself, said people familiar with Charter's thinking. Reference Link
16:01 EDTVZOptions Update; April 30, 2015
iPath S&P 500 VIX Short-Term Futures up 60c to 21.84. Option volume leaders: AAPL TSLA TWTR GILD FB AMZN CELG VZ KMI according to Track Data.
14:22 EDTCMCSAComcast May volatility elevated into Q1 and outlook
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14:11 EDTTWCCharter, TWC have eached separately approached Bright House, DJ says
Dow Jones cites sources.
14:03 EDTCVCCablevision May volatility elevated into Q1 and outlook
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10:52 EDTTWC, CMCSATime Warner Cable CEO says 'nothing' company could have done to save merger
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10:46 EDTTWCTime Warner Cable CEO says in investment cycle, expects 'great' 2016
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09:05 EDTTWCTime Warner Cable will not be pioneers on skinny packages
The company said there is still a lot of play left in Triple Play. If skinny packages works for its peers, it will be "fast followers".
08:57 EDTTWCTime Warner Cable expects FY15 CapEx to be 'a little higher' than last year
08:56 EDTTWCTime Warner Cable expects FY15 adjusted OIBDA to be flat
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08:42 EDTTWCTime Warner Cable 'feels great' about overall health of financial growth
The company said, "While other people were more focused on the merger, we were quietly executing our plan." The company said that while it was confident the deal would be consummated, it was ready and "never took [our] eyes off the ball." Comments taken from Q1 earnings conference call.
06:32 EDTTWCTime Warner Cable coverage resumed with an Equal Weight at Morgan Stanley
Target $170.
06:32 EDTCMCSAComcast coverage resumed with an Overweight at Morgan Stanley
Target $65.
06:14 EDTTWCTime Warner Cable reports Q1 residential video net additions of 30K
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06:13 EDTTWCTime Warner Cable reports Q1 adjusted OIBDA $2.0B, operating income $1.08B
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06:12 EDTTWCTime Warner Cable reports Q1 adjusted EPS $1.65, consensus $1.88
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April 29, 2015
15:00 EDTTWCNotable companies reporting before tomorrow's open
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14:00 EDTCMCSA, TWCFCC says Comcast-Time Warner Cable-Charter docket closed
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13:32 EDTCMCSA, DISHulu subscriber base jumped 50% year-over-year, The Verge reports
Hulu now has 9M subscribers, an increase of 50% over the same period last year, the venture's CEO stated, according to The Verge. Hulu is owned by Disney (DIS), Comcast (CMCSA) and 21st Century Fox (FOXA), Reference Link
12:19 EDTDIS, CMCSAAMC Networks monetization improved with Hulu deal, says Piper Jaffray
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10:53 EDTCVCOptions with increasing implied volatility
Options with increasing implied volatility: THRX ALTR ARIA DECK ANF KORS CVC CCE
09:47 EDTTWCCharter, Time Warner Cable CEOs to meet next week to talk deal, CNBC reports
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07:41 EDTTWC, CMCSA, CVCCablevision suitor could pay 50% premium in takeout, says Jefferies
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06:10 EDTCMCSA, DISHulu said to land 'Seinfeld' streaming rights, WSJ reports
Hulu, which is owned by Disney (DIS), Comcast (CMCSA) and 21st Century Fox (FOXA), has reportedly landed a deal to stream all 180 episodes of "Seinfeld," The Wall Street Journal reports. Though terms of the deal have not been disclosed, a source believes that the per-episode value of the show would be around $700,000. Amazon (AMZN) and Yahoo (YHOO) were also bidders for the streaming rights to "Seinfeld," and Netflix (NFLX) expressed interest initially, but later signed a deal for streaming rights to "Friends." Reference Link
05:21 EDTCMCSAAOL, NBCUniversal announce video content partnership
AOL Inc. (AOL) and NBCUniversal, a Comcast (CMCSA) company, announced an expansive content distribution and development agreement of both exclusive and non-exclusive content. The announcement was made at AOL’s Digital Content NewFronts event at The World Trade Center, in front of more than 800 senior-level brand, agency and partner clients. Beginning this summer, NBCUniversal video clips and segments from select entertainment and news programming will be available to stream on AOL On (on.aol.com), the AOL On mobile app, and across 16 major over-the-top platforms which the AOL On app is available. The content will be from NBCUniversal's vast portfolio of broadcast networks, cable channels and digital networks, including Bravo, CNBC, E!, Esquire, MSNBC, NBC, Oxygen, Syfy, Telemundo and USA. Together, the companies are exploring AOL brand experts to appear across certain NBCUniversal linear TV properties. Further, AOL and NBCUniversal will co-develop and co-produce original Web video series for distribution over the NBCUniversal and AOL platforms, and are in discussions on creating weekly live programming together.
April 28, 2015
14:09 EDTCMCSAEarnings Watch: TV network owners to report amid takeover rumors
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13:13 EDTCMCSA, CVC, DISCablevision and Hulu announce new agreement to provide Hulu to Optimum customers
Cablevision (CVC) and Hulu (DIS; FOX; FOXA; CMCSA) announced that they have reached an agreement to offer Hulu’s subscription streaming service to Optimum customers. Cablevision is the first cable or satellite provider to agree to distribute Hulu’s comprehensive catalog of on-demand content. Cablevision plans to provide pricing and other particulars for Hulu, including its availability date, in the near future.
11:18 EDTTWC, CMCSADiscovery cut to sell as Comcast deal collapse seen hurting negotiating position
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06:26 EDTTWCTime Warner Cable ready for merger talks with Charter, Reuters says
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06:16 EDTTWC, CMCSATime Warner Cable reached out to Cox, which didn't show interest, WSJ reports
According to sources, Time Warner Cable reached out to Cox Communications in the past few days to discuss a possible merger, The Wall Street Journal reports. The sources say Cox "didn't show interest" in a deal with Time Warner Cable, whose $45B with Comcast (CMCSA) fell apart last week. Cox commented, "We’ve been clear we’re not for sale, and we’ll continue to explore any potential growth opportunities that align with our business objectives." Reference Link
06:05 EDTVZFCC could reject Dish's wireless license auction bids, WSJ reports
According to sources, the FCC could reject Dish Network's (DISH) "attempt to benefit from billions of dollars in small-business discounts" in a wireless license auction, The Wall Street Journal reports. Earlier this year, Dish won $13.3B worth of bids in the auction, and later claimed $3.3B in discounts intended for small businesses. Dish, which said it disclosed its bidding plans in advance, believes its participation in the auction introduced competition to AT&T (T) and Verizon (VZ). Reference Link
05:56 EDTCMCSA, TWCDiscovery downgraded to Sell from Neutral at UBS
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April 27, 2015
11:50 EDTTWC, CMCSAFuture of Comcast chief in question as contract nears end, NY Post reports
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11:37 EDTVZ, DISESPN files breach of contract suit against Verizon, Re/code reports
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10:00 EDTDISOn The Fly: Analyst Upgrade Summary
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08:14 EDTCMCSA, TWC, CVC, VZBofA/Merrill media & telecom analysts hold analyst/industry conference call
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07:13 EDTVZUBM Tech to hold a conference
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06:48 EDTDISDisney upgraded to Buy from Neutral at Guggenheim
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06:18 EDTDISDisney price target raised to $125 from $110 at Citigroup
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05:56 EDTTWCStocks with implied volatility movement; VALE TWC
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April 26, 2015
17:05 EDTCMCSAUniversal's 'Furious 7' leads U.S. weekend box office with $18.3M
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April 24, 2015
16:31 EDTCMCSA, TWCStocks finish week higher following strong tech earnings
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16:19 EDTTWC, CMCSAOn The Fly: Top stock stories for Friday
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14:28 EDTCMCSA, TWCCharter seeks talks with TWC about 'friendly' merger, Bloomberg reports
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14:14 EDTTWC, CMCSATWC jumps after Bloomberg says Charter made approach
Shares of Time Warner Cable (TWC) are moving higher after Bloomberg reported that Charter Communications (CHTR) has already reached out to the cable giant to discuss a potential merger. Shares of TWC are up $7.07 to $155.83 while Charter shares are up $2.48 to $186.06. Comcast (CMCSA) today ended its bid to acquire TWC due to regulatory concerns.
14:10 EDTTWCCharter approaching banks for TWC deal financing, Bloomberg reports
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13:13 EDTTWCTime Warner Cable reinstated with a Buy at BofA/Merrill
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12:49 EDTCMCSA, TWCOn The Fly: Top stock stories at midday
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12:16 EDTCMCSA, TWCTWC expected to want $170/share or more in deal, CNBC's Faber reports
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11:15 EDTDISDisney calls active on renewed Carl Icahn speculation
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11:03 EDTDISRumor: Disney active on renewed Carl Icahn speculation
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11:03 EDTCMCSA, TWCDISH says Comcast, TWC merger termination 'best possible outcome'
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10:00 EDTCVCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Outperform from Neutral at Macquarie... Alaska Air (ALK) upgraded to Buy from Neutral at Buckingham... Amazon.com (AMZN) upgraded at Raymond James... American Electric (AEP) upgraded to Buy from Hold at Deutsche Bank... Broadridge (BR) upgraded to Buy from Hold at Evercore ISI... Cablevision (CVC) upgraded to Hold from Sell at Brean Capital... Cisco (CSCO) upgraded to Conviction Buy from Buy at Goldman... Core Laboratories (CLB) upgraded to Outperform from Sector Perform at Iberia... Crown Castle (CCI) upgraded to Outperform from Market Perform at Raymond James... Encore Wire (WIRE) upgraded to Buy from Neutral at Sidoti... Gigamon (GIMO) upgraded to Buy from Neutral at DA Davidson... Juniper (JNPR) upgraded on improved outlook at RBC Capital... KPN (KKPNY) upgraded to Buy from Neutral at Goldman... Knight Transportation (KNX) upgraded to Outperform from Market Perform at Avondale... Mattel (MAT) upgraded to Buy from Neutral at Goldman... Microsoft (MSFT) upgraded to Buy from Neutral at Nomura... Premiere Global (PGI) upgraded to Outperform from Market Perform at Raymond James... Quintiles (Q) upgraded to Buy from Hold at Jefferies... Southwestern Energy (SWN) upgraded to Market Perform at Raymond James... TE Connectivity (TEL) upgraded on positive catalysts at SunTrust... Target (TGT) upgraded to Buy from Neutral at BofA/Merrill... TriState Capital (TSC) upgraded to Overweight from Equal Weight at Stephens... United Continental (UAL) upgraded to Buy from Hold at Evercore ISI... Vipshop (VIPS) upgraded to Buy from Hold at HSBC... Vocera (VCRA) upgraded to Buy from Hold at Craig-Hallum.
09:48 EDTCMCSA, TWCCharter unlikely to go hostile on Time Warner Cable, CNBC's Faber says
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08:57 EDTCMCSA, TWCAG Holder says Comcast abandoning deal 'best outcome for American consumers'
Comcast (CMCSA) abandoned its plans to acquire Time Warner Cable (TWC) for approximately $45.2B after the Department of Justice informed the companies that it had significant concerns that the merger would make Comcast an unavoidable gatekeeper for Internet-based services that rely on a broadband connection to reach consumers, the DOJ announced. "The companies' decision to abandon this deal is the best outcome for American consumers," said Attorney General Eric Holder. "The Antitrust Division of the United States Department of Justice has demonstrated, time and again, that it can and will defend the interests of the American consumer no matter the complexity of the issue or the size of the opponent. This is a victory not only for the Department of Justice, but also for providers of content and streaming services who work to bring innovative products to consumers across America and around the world."
08:51 EDTCMCSAComcast CEO says 'not speculating in any way' on other potential deals
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08:49 EDTCMCSA, TWCComcast CEO says may be room for more buyback after deal termination
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08:37 EDTCMCSA, TWCComcast up 0.5%, Time Warner Cable down 0.5% after confirming deals terminated
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08:36 EDTTWC, CMCSATime Warner Cable CEO Marcus says company 'strong and getting stronger'
08:35 EDTCMCSA, TWCTime Warner Cable says company, Comcast 'mutually agreed' to terminate merger
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08:34 EDTCMCSA, TWCComcast CEO Roberts says 'excited for what's next'
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08:34 EDTTWC, CMCSAComcast: Merger with Time Warner Cable, deal with Charter terminated
08:33 EDTCMCSA, TWCComcast says 'structured deal so if government didn't agree, we could walk away'
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08:33 EDTTWC, CMCSAComcast says Time Warner Cable transaction has been terminated
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08:32 EDTTWC, CMCSAComcast says Time Warner Cable transaction has been terminated
07:55 EDTCVCCablevision upgraded to Hold from Sell at Brean Capital
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07:18 EDTTWC, CMCSACharter could buy Time Warner Cable, says RBC Capital
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06:50 EDTVZ, CMCSA, DISDisney, Fox refuse to run FiOS commercials, NY Times says
Disney (DIS) and 21st Century Fox (FOXA) are refusing to run commercials for Verizon (VZ) FiOS' slimmed down, a la carte package on a number of their stations, according to The New York Times. Disney, Fox and Comcast (CMCSA) have objected to FiOS' new offering, the news service stated. Reference Link
06:08 EDTTWC, CMCSAComcast faced intense scrutiny from FCC, DOJ in Time Warner Cable deal, WSJ says
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06:04 EDTCMCSA, TWCCharter's deal to buy Bright House 'off the table,' NY Post reports
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April 23, 2015
19:41 EDTCVCCablevision announces 'cord cutter package,' includes option for HBO Now
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19:28 EDTTWC, CMCSAComcast to make statement about merger withdrawal Friday, Financial Times says
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16:49 EDTTWC, CMCSAOn The Fly: Top stock stories for Thursday
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15:41 EDTTWC, CMCSAFaber says Comcast to drop deal for Time Warner Cable, CNBC reports
CNBC's David Faber is confirming a similar report from Bloomberg earlier that said Comcast (CMCSA) plans to drop its plans to buy Time Warner Cable (TWC).
15:13 EDTCVCCablevision May volatility elevated into Q1 and outlook
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15:12 EDTTWC, CMCSAComcast plans to give up on Time Warner Cable deal, Bloomberg reports
Comcast (CMCSA) plans to scrap its proposed acquisition of Time Warner Cable (TWC) amid indications that the deal is unlikely to be approved by regulators, reported Bloomberg, citing people with knowledge of the matter. An announcement regarding the deal may come as soon as tomorrow, one of the people reportedly told Bloomberg. In afternoon trading, Comcast shares are up 2.4% to $60.15, Time Warner Cable shares are up 0.6% and shares of Charter (CHTR), which has expressed interest in buying TWC if the deal gets scrapped, are up 0.4% to $185.65. Reference Link
15:02 EDTCMCSA, TWCComcast said to plan final decision today on TWC deal, Blooomberg says
15:01 EDTCMCSA, TWCTime Warner Cable down 1% after Bloomberg says Comcast plans to drop deal
14:59 EDTCMCSA, TWCComcast said to plan to give up on Time Warner Cable deal, Bloomberg says
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13:01 EDTCMCSA, TWCOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday amid another deluge of earnings reports. Stocks began the session in negative territory and have remained there through the morning before crossing into positive ground right near noon. The averages gapped up after making it back to the green, putting the Nasdaq back above the all-time closing record it achieved in 2000. A question for the afternoon will be whether the average can hold on to set a new all-time closing high fifteen years later. ECONOMIC EVENTS: In the U.S., initial jobless claims inched up 1K to 295K in the week ended April 18, versus the expected 287K first-time claims. Markit's flash manufacturing PMI fell 1.5 points to 54.2 in April, versus expectations for it to hold steady at 55.7. New home sales dropped 11.4% to a 481K rate in March, versus expectations for a less severe 4.5% drop to a 515K rate. COMPANY NEWS: Shares of Time Warner Cable (TWC) slid about 1% after The Wall Street Journal reported that the FCC's staff recommended a course of action that could derail the company's merger with Comcast (CMCSA). However, research firm Jefferies remained upbeat on Time Warner Cable shares, upgrading the stock this morning and saying that Charter (CHTR) would probably buy the company if the government nixes the Comcast deal... Among members of the Dow that issued earnings reports this morning, Caterpillar (CAT) slid fractionally while 3M (MMM) and Procter & Gamble (PG) each fell about 2%. MAJOR MOVERS: Among the notable gainers was ARRIS (ARRS), which jumped 21% after the company agreed to acquire its competitor Pace for aggregate stock and cash consideration of $2.1B. Also higher following their earnings reports were Skechers (SKX), which rose nearly 13%, and Dunkin' Brands (DNKN), which gained 8.5%. Among the noteworthy losers was MobileIron (MOBL), which plunged 22% after the company warned of a Q1 revenue miss and announced the resignation of its CFO. Also lower following their earnings reports were Texas Instruments (TXN), which fell 7%, and General Motors (GM), which declined nearly 4%. INDEXES: Near midday, the Dow was up 81.31, or 0.45%, to 18,119.58, the Nasdaq was up 22.69, or 0.45%, to 5,057.86, and the S&P 500 was up 10.32, or 0.49%, to 2,118.28.
10:12 EDTTWC, CMCSACharter seen as white knight for Time Warner Cable if Comcast deal blocked
The shares of Time Warner Cable (TWC) are declining after The Wall Street Journal reported that the FCC's staff recommended a course of action that could derail the company's merger with Comcast (CMCSA). However, research firm Jefferies remained upbeat on Time Warner Cable shares, saying that Charter (CHTR) would probably buy the company if the government nixes the Comcast deal. WHAT'S NEW: The FCC's staff yesterday recommended that the agency allow an administrative law judge to decide whether Comcast's proposed takeover of Time Warner Cable should be allowed to proceed, according to The Wall Street Journal. Such a move by the FCC would be seen as a strong sign that the agency does not believe that the takeover is in the public interest, the newspaper stated. ANALYST REACTION: In a note to investors earlier today, Jefferies analyst Mike McCormack upgraded time Warner Cable to Buy from Hold. Assuming the Comcast deal is going to close, Time Warner Cable's stock is worth $193, McCormack wrote. But, even in the unlikely event that the deal is not approved, Charter Communications is likely to step in and buy Time Warner Cable at a similar valuation as that which Comcast agreed to, McCormack predicted. An acquisition by Charter would face less regulatory risk than the Comcast deal, he added. Moreover, if the Comcast deal,is vetoed, Time Warner Cable could return up to $7B of cash to shareholders before holding talks with Charter, wrote the analyst, who set a $193 price target on Time Warner Cable. WHAT'S NOTABLE: John Malone, the chairman of Liberty Media (LMCA), has previously said that Charter would look to buy Time Warner Cable if its deal with Comcast falls through. PRICE ACTION: In early trading, Time Warner Cable slipped fractionally to $149.30, Comcast rose 2% to $60 and Charter gained 0.4% to $185.70.
09:18 EDTTWC, CMCSAOn The Fly: Pre-market Movers
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08:50 EDTCMCSAComcast volatility flat with uncertainty of completion of Time Warner Cable deal
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07:29 EDTTWC, CMCSAJefferies ups Time Warner Cable to Buy, sees Charter as potential bidder
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05:58 EDTCMCSA, TWCFCC staff recommends hearing on Comcast-TWC merger, WSJ reports
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05:37 EDTTWCTime Warner Cable upgraded to Buy from Hold at Jefferies
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