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Stock Market & Financial Investment News

News Breaks
August 5, 2014
13:19 EDTTWX, DIS, FOXA, FOXEarnings Preview: Disney shares up more than 6.5% over last three months
The Walt Disney Company (DIS) is scheduled to report third quarter earnings after the market close on Tuesday, August 5 with a conference call scheduled for 5:00 pm 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 $1.17 on revenue of $12.16B, according to First Call. The consensus range for EPS is $1.07-$1.27 on revenue of $11.73B-$12.6B. LAST QUARTER: Disney reported second quarter EPS of $1.11 excluding items against estimates for 96c, on revenue of $11.65B against estimates for $11.24B. The company's media networks revenue was $5.1B, up 4% from the prior quarter and its Q2 cable networks operating income was $2B, an increase of $250M from the prior quarter. NEWS: During the quarter, Disney closed the previously-announced deal to buy Maker Studios for up to $950M. Variety reported that Disney would lay off about 10% of Maker's 380 employees. The NBA looked to double the TV-rights fees it receives from ESPN's majority owner Disney, sources said, and Reuters said a Fox (FOXA) purchase of Time Warner (TWX) would pose a significant challenge to ESPN. The Hollywood Reporter said Disney is not planning to pursue a stake in Vice Media. Also during the quarter, the Supreme Court ruled 6-3 in favor of television network owners and against Aereo, which sells a service that allows its subscribers to watch television programs over the Internet at about the same time as the programs are broadcast over the air. STREET RESEARCH: During the quarter, Barclays initiated Disney with an Overweight rating, as the firm believes new distribution platforms could lead to less leverage and market share loss for the industry. Disney shares were also initiated with a Buy rating and $100 target at Jefferies. PRICE ACTION: Year-to-date, Disney shares are up over 13%. Over the last three months, Disney shares are up over 6.5%. Shares are trading down over 0.5% to $86.75 ahead of tonight's earnings report.
News For DIS;FOX;FOXA;TWX From The Last 14 Days
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January 20, 2015
14:00 EDTDISFCC fines Viacom, ESPN $1.4M after brodcasting EAS tones to promote movie
The Federal Communications Commission fined Viacom (VIA) and ESPN (DIS) $1.4M for misusing the Emergency Alert System warning tones. The cable networks transmitted EAS warning tones for several days in 2013 to promote the movie “Olympus Has Fallen,” which portrayed a terrorist attack on Washington, D.C. Broadcast or transmission of these tones outside an emergency or test violates the FCC’s laws protecting the integrity of the system. The networks admitted that the commercial contained actual EAS codes and appeared multiple times on the networks. In March 2014, the FCC proposed a total fine of $1,930,000 against NBCUniversal (CMCSA), ESPN, and Viacom. NBCUniversal paid its $530,000 fine, but ESPN and Viacom objected and requested reductions. The FCC rejected their arguments and imposed fines of $1,120,000 against Viacom and $280,000 against ESPN. The fines, which differ based on several factors including the number of channels involved and the number of transmissions on each channel, must be paid in 30 days.
13:24 EDTTWXGreenlight has new long positions in Citizens, Time Warner, Bloomberg says
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07:35 EDTTWXTime Warner downgraded at Morgan Stanley
As previously reported, Morgan Stanley downgraded Time Warner to Equal Weight from Overweight. The firm downgraded shares based on balanced risk/reward, and downside risk from affiliate fee growth and TV advertising. Price target lowered to $85 from $90.
07:25 EDTFOXA, FOXViacom buys 50% stake in five Indian TV channels, WSJ says
Viacom (VIA, VIAB) is completing a deal with India's Reliance Industries giving it 50% ownership of five Indian TV channels for an undisclosed sum, reports the Wall Street Journal. Competitors including Discovery Communications (DISCA), 21st Century Fox (FOX, FOXA), and AMC Networks (AMCX) are similarly looking towards foreign investment as U.S. consumers move away from traditional cable packages. PricewaterhouseCoopers predicts 16% annual growth in Indian TV revenue over the next five years. Reference Link
06:29 EDTTWXTime Warner downgraded to Equal Weight from Overweight at Morgan Stanley
06:06 EDTFOXA, FOXDreamWorks planning to lay off 'substantial' number of staff, LA Times reports
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January 18, 2015
16:46 EDTTWX, FOXA, FOXWarner Bros.' 'American Sniper' takes top spot with $90.2M at box office
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January 16, 2015
11:16 EDTFOXACBS, Viacom climb following Stifel upgrades
Shares of CBS (CBS) and Viacom (VIA, VIAB) are climbing after research firm Stifel upgraded the stocks to Buy from Hold. CBS owns the CBS network and other entertainment properties. Viacom owns a number of cable networks, including MTV and Nickelodeon. WHAT'S NEW: CBS' NFL rights leave it well-positioned to charge cable companies and other TV providers high fees, Stifel analyst Benjamin Mogil wrote in a note to investors today. Meanwhile, the company's strong ratings and lower production costs reduce its risk, Mogil stated. CBS has more opportunities when it comes to selling its content to Internet TV networks such as Netflix (NFLX), Mogil believes. The analyst set a $65 price target on the shares. Meanwhile, Mogil believes that Viacom should benefit from the adoption of ratings measurements other than Nielsen's (NLSN) tools. Viacom has complained that Nielsen's tools have underestimated its ratings by failing to adequately take into account new types of content consumption, the analyst noted. Viacom's recent expansion into new international markets should also improve its performance, Mogil stated. He set an $89 price target on the shares. ANOTHER TO WATCH: Mogil initiated coverage of Twenty-First Century Fox (FOXA) with a $41 price target and Buy rating, saying that the company is well-positioned to benefit from its wide range of sports programming. He set a $41 price target on the shares. PRICE ACTION: In late morning trading, CBS advanced 2.75% to $55, Viacom gained 2.5% to $68, and Twenty-First Century Fox rose 0.4% to $34.72.
10:01 EDTFOXAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with a Buy at Stifel... Arista Networks (ANET) initiated with a Neutral at Buckingham... Boston Beer (SAM) initiated with a Buy at Jefferies... Brocade (BRCD) initiated with a Neutral at Buckingham... CBS (CBS) initiated with a Buy at Stifel... Cabela's (CAB) initiated with an Outperform at Raymond James... Coach (COH) initiated with a Market Perform at Bernstein... Costco (COST) initiated with an Outperform at BMO Capital... Crane (CR) initiated with a Hold at Canaccord... Flowserve (FLS) initiated with a Neutral at Susquehanna... Fortinet (FTNT) initiated with a Buy at Buckingham... Gap (GPS) initiated with a Market Perform at Bernstein... GrubHub (GRUB) initiated with a Buy at Stifel... Imperva (IMPV) initiated with a Neutral at Buckingham... KLX Inc. (KLXI) initiated with a Sector Perform at RBC Capital... KNOT Offshore Partners (KNOP) initiated with a Buy at UBS... L Brands (LB) initiated with a Market Perform at Bernstein... Michael Kors (KORS) initiated with an Outperform at Bernstein... Northstar Realty (NRF) initiated with a Buy at Sterne Agee... OmniVision (OVTI) initiated with a Buy at Rosenblatt... Qorvo (QRVO) initiated with a Buy at Brean ... RSP Permian (RSPP) initiated with an Outperform at Northland... Ross Stores (ROST) initiated with a Market Perform at Bernstein... SPX Corp. (SPW) initiated with a Neutral at Susquehanna... TJX (TJX) initiated with an Outperform at Bernstein... Tiffany (TIF) initiated with a Market Perform at Bernstein... Viacom (VIAB) initiated with a Buy at Stifel... Xylem (XYL) initiated with a Neutral at Susquehanna... iGATE (IGTE) initiated with a Buy at Deutsche Bank... lululemon (LULU) initiated with an Outperform at Bernstein.
10:01 EDTTWXOn The Fly: Analyst Downgrade Summary
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January 15, 2015
18:03 EDTFOXA, FOXDISH, Fox News reach content carriage agreement
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16:23 EDTTWXTime Warner downgraded to Hold from Buy at Stifel
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16:19 EDTFOXA21st Century Fox initiated with a Buy at Stifel
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07:52 EDTFOXA, FOX'Avatar' sequel pushed back to 2017, AP says
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January 13, 2015
14:04 EDTDISCalifornia connects 26 measles cases to Disneyland, Reuters says
Health officials in California have confirmed additional cases of measles in people who attended Disneyland (DIS) last month, increasing the number of people infected to 26, Reuters reports. Reference Link
11:58 EDTDISESPN sets cable ratings record for college championship game, Variety says
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06:28 EDTTWXCNN reaches deal with FAA to study use of drones in reporting, WSJ reports
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January 12, 2015
09:15 EDTTWX, FOXA, DIS'Taken' seqeul knocks 'Hobbit' from top spot at box office, WSJ reports
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09:04 EDTTWXAmazon wins first Golden Globe for 'Transparent,' Business Insider reports
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January 11, 2015
16:08 EDTFOXARentrak says 21st Century Fox's Taken 3 wins weekend box office
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