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Stock Market & Financial Investment News

News Breaks
August 5, 2014
13:19 EDTFOX, TWX, DIS, FOXAEarnings 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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February 26, 2015
10:01 EDTTWXRumor: Time Warner active on speculation of a large investor stake
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February 25, 2015
11:47 EDTTWX, DISAnalysts clash on DreamWorks following Q4 miss
The shares of animated film and television show maker DreamWorks (DWA) are rising, despite the weaker than expected results reported by the company last night. Two analysts offered very different views on the company's outlook following its results. BACKGROUND: DreamWorks last night reported a fourth quarter per share loss of ($3.08), versus analysts' consensus outlook for a ($3.01) per share loss. The company's revenue also came in below expectations. Excluding $210M in pre-tax charges associated with DreamWorks' restructuring plan, its loss was (75c) per share, the company stated. BEARISH TAKE: In a note to investors today, FBR Capital analyst Barton Crockett wrote that DreamWorks' results were "ugly," as they included $155M of write-offs on films and TV shows. However, Crockett believes that the crucial factor for the company's outlook is whether it can consistently compete with the entertainment giants, including Disney (DIS), Viacom (VIA), and Time Warner (TWX). Crockett is not convinced that DreamWorks will be able to hold its own, and he believes that its 2015 results could come in below expectations. The analyst warned that the company may have difficulty meeting its 2015 consumer products revenue guidance. DreamWorks expects its consumer products revenue to double this year, but the movie-based toy space is "very competitive" in 2015, as toys based on multiple popular children's films are set to be released, Crockett stated. Moreover, after conducting checks online, Crockett reports that there does not seem to be a great deal of interest in DreamWorks' movie "Home," which is set to be released on March 27. He kept an Underperform rating on the shares and raised his price target on the stock to $14 from $12. BULLISH TAKE: DreamWorks' results were mixed, but the results are not very important, Piper Jaffray analyst James Marsh stated. The company's guidance for its TV and consumer products businesses were solid, the analyst believes. Moreover, the company "took specific and decisive action" to avert a liquidity crunch, Marsh wrote. Specifically, DreamWorks raised $185M of capital by selling its real estate in Glendale, California and then leasing it back, and increased the size of its current credit facility to $450M from $400M, Marsh reported. The moves should "largely" eliminate investors' worries about the company's liquidity position, Marsh stated. He kept a $26 price target and Overweight rating on the stock. WHAT'S NOTABLE: On DreamWorks' earnings conference call last night, the company's CEO Jeffrey Katzenberg stated that it did not obtain more than 10% of its revenue from Netflix (NFLX) last year. However, in an SEC filing earlier this morning, DreamWorks clarified that it had obtained 14.9% of its revenue from Netflix last year. PRICE ACTION: In late morning trading, DreamWorks rose 5.6% to $22.31.
February 24, 2015
13:01 EDTFOX, FOXATom Rothman to replace Amy Pascal at Sony Pictures, FT reports
Former Fox Filmed Entertainment (FOXA) co-Chairman Tom Rothman will replace Amy Pascal as co-chairman of Sony Pictures (SNE), The Financial Times reports. Sony Entertainment CEO Michael Lynton has extended his contract, the publication notes. Rothman has run Sony's TriStar label since 2013. Reference Link
06:56 EDTFOXAFox News' O'Reilly mounts defense of disputed statements, NY Times reports
Bill O'Reilly, the host of a popular prime time show on 21st Century Fox's Fox News, yesterday defended himself against accusations that he had falsely claimed to have reported on the Falklands war and to have covered "active war zones," according to The New York Times. O'Reilly, who says he covered violent demonstrations in the aftermath of the war, last night played footage of violent protests in Argentina following the conflict and spoke with a former NBC News bureau chief who said there were tanks in the streets of Buenos Aires when OReilly was there, the newspaper stated. The website Mother Jones and a number of O'Reilly's former CBS colleagues have disputed his accounts, The times reported. Reference Link
06:10 EDTTWXSalem Media Group, CNN to team up for three GOP presidential primary debates
February 23, 2015
18:13 EDTDISBob Chapek named Chairman, Walt Disney Parks and Resorts
Bob Chapek has been named Chairman, Walt Disney Parks and Resorts, it was announced by Robert A. Iger, Chairman and CEO, and Thomas O. Staggs, COO, The Walt Disney Company. A 22-year veteran of The Walt Disney Company, Chapek has served since 2011 as President of Disney Consumer Products, driving a technology-led transformation of the company’s consumer products, retail and publishing operations. He assumes his new role effective immediately.
11:35 EDTTWX, DISAmazon picks Benson to head advertising for original TV series, Variety says
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09:12 EDTFOXADiscovery volatility flat into 21st Century Fox denied it held talks
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08:55 EDTFOXAFox News' O'Reilly defending statements, NY Times reports
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08:33 EDTFOXA, FOX'Fifty Shades' ticket sales retain top spot at box office, Reuters says
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07:38 EDTTWXComcast, AT&T deals could be delayed by document access case, WSJ says
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07:00 EDTFOXA, FOX21st Century Fox says 'no truth' in rumors of Discovery talks, Reuters reports
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06:34 EDTFOXA, FOX21st Century Fox, Discovery held preliminary merger talks, AFR reports
21st Century Fox (FOXA) executives met with their counterparts at Discovery Communications (DISCA) nearly two weeks ago to discuss a possible takeover offer, The Australian Financial Review reports, citing sources. According to the sources, discussions were "nascent" and talks are in the "very, very early days." A spokesperson for 21st Century Fox has denied talks took place. Reference Link
February 22, 2015
13:03 EDTDISDisney raises prices at the Magic Kingdom, Orlando Sentinel says
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February 19, 2015
08:15 EDTTWXWarner Bros. exec says not in talks with Apple on streaming, Re/code reports
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07:25 EDTTWXCable nets speed up shows to add more ads, WSJ says
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February 17, 2015
17:29 EDTFOXABerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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13:18 EDTTWXOmega Advisors gives quarterly update on stakes
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12:56 EDTFOXA, DISDecline of TV viewing accelerated, NY Post reports
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07:15 EDTFOXA, FOX'Fifty Shades' opens to $94.4M, WSJ says
Comcast (CMCSA, CMCSK) subsidiary Universal's "Fifty Shades of Grey" earned roughly $94.4M in its opening weekend, reports the Wall Street Journal. The film earned an additional $172M overseas. Fox' (FOX, FOX.A) "Kingsman: The Secret Service" debuted in second place with $42M, and Viacom (VIA, VIA.B) subsidiary Paramount's "SpongeBob SquarePants: Sponge Out of Water" took $40M in its second week. Reference Link
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