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Stock Market & Financial Investment News

News Breaks
May 14, 2014
08:28 EDTDIS, FOXA, CMCSAESPN says competition doesn't stop strong ad sales, LAT reports
ESPN president of sales Ed Erhardt said the Disney-owned (DIS) sports network does not believe its growing competitors Fox Sports 1 (FOXA) and NBC Sports Network (CMCSA) are "taking dollars from us in particular" in the advertising marketplace, reported The Los Angeles Times. Reference Link
News For DIS;FOXA;CMCSA From The Last 14 Days
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September 29, 2014
07:25 EDTFOXA'Equalizer' tops domestic box office with $35M debut, WSJ reports
"The Equalizer," distributed by Sony (SNE), topped the domestic box office with a $35M weekend opening, beating out last week's winner, 21st Century Fox's (FOXA) "The Maze Runner," reported the Wall Street Journal. Reference Link
07:18 EDTCMCSAStarz may struggle to sell itself, WSJ reports
Starz (STRZA) may struggle to sell itself, according to the Wall Street Journal citing challenges facing standalone media companies. The publication says that the standalone networks -- Starz, AMC Networks (AMCX) and Scripps Networks (SNI) -- "lack the heft" of larger peers in negotiations regarding affiliate deals, and look "increasingly vulnerable" now that Comcast (CMCSA), Time Warner Cable (TWC), DirecTV (DTV) and AT&T (T) are joining forces. Reference Link
September 26, 2014
16:55 EDTDISMarket ends week lower after inversion crackdown, mixed data
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September 25, 2014
17:50 EDTCMCSACompanies receive U.S. information requests on Comcast-TWC deal, Bloomberg says
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September 24, 2014
16:22 EDTDISOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed that sales of new homes rose to their highest level in over six years in August. The volume and news flow were relatively light, which may be the case again tomorrow as many market participants celebrate the Jewish holiday of Rosh Hashanah. ECONOMIC EVENTS: In the U.S., new home sales rose 18.0% in August to a 504K unit rate, which was much higher than the expected 4.4% increase. COMPANY NEWS: Bed Bath & Beyond (BBBY) advanced $4.64, or 7.4%, to $67.33 after the home goods retailer last night reported second quarter earnings and revenue that surpassed analysts' consensus estimates. The better than expected report and rise in the stock comes a day after William Blair downgraded the stock yesterday morning... Citizen Financial (CFG), the U.S. retail bank unit of Royal Bank of Scotland (RBS), became the year's second largest IPO behind Alibaba (BABA) after 140M shares began trading on the NYSE this morning. The stock ended it first day up $1.58, or 7.35%, at $23.08, which was far cry from the advance seen by another of the day's new stock debuts. CyberArk (CYBR) priced 5.36M shares at $16.00, opened for trade at $25.00 and ended the day at $29.94, making for a rise of over 87% from its IPO pricing. MAJOR MOVERS: Among the notable gainers was Acorda Therapeutics (ACOR), which advanced $8.27, or 28.18%, to $37.62 after the company agreed to acquire Civitas Therapeutics for $525M in cash. Civitas, which was private, had been scheduled to come public via an IPO that was expected to happen later this week prior to the deal announcement. Also higher was Hasbro (HAS), which rose $2.01, or 3.8%, to $54.95 after striking a deal that gives the company global rights, excluding Japan, to develop dolls based on Disney's (DIS) princess characters, as well as Frozen, beginning in 2016. Mattel (MAT), which currently holds those rights, slid 40c, or 1.25%, to $31.67 in the wake of the news. Also lower were shares of Skechers (SKX), which fell $5.69, or 9.8%, to $52.40 after research firm SportscanInfo reported that the footwear maker's sales had fallen 3% last week. However, Sterne Agee recommended buying the stock on the weakness. INDEXES: The Dow rose 154.19, or 0.9%, to 17,210.06, the Nasdaq gained 46.53, or 1.03%, to 4,555.22, and the S&P 500 added 15.53, or 0.78%, to 1,998.30.
12:29 EDTFOXA20th Century Fox signs TV deal with Canadian Shomi, The Hollywood Reporter says
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12:29 EDTDISHasbro Princess deal positive, says Wells Fargo
After Hasbro announced that beginning in 2016 it would have the global (ex Japan) Disney (DIS)Princess doll license, Wells Fargo thinks that Hasbro has added a premier, established global license that increases the visibility of its results and significantly strengthens its girls business. The firm thinks the deal will cause Hasbro's multiple to expand further, and it keeps an Outperform rating on the shares.
12:14 EDTCMCSANetflix responds to Comcast's extortion claims, Variety reports
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10:02 EDTDISHasbro announces strategic merchandising relationship with Disney
Hasbro (HAS) announced a new strategic merchandising relationship with Disney (DIS( Consumer Products for the globally popular Disney Princess and Frozen properties. The agreement gives Hasbro global rights, excluding Japan, to develop dolls based on Disney Princess stories and characters including Cinderella, Beauty and The Beast, and The Little Mermaid as well as Frozen beginning in 2016.
09:17 EDTCMCSAComcast accuses TWC deal opponents of extortion, Re/code reports
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09:05 EDTFOXAOn The Fly: Pre-market Movers
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07:43 EDTCMCSAARRIS and Comcast trial ew RDK software in broadband modems
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05:57 EDTFOXAStarz hires investment bank to explore sale, WSJ reports
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05:51 EDTFOXAStarz met with 21st Century Fox about takeover, LA Times reports
Starz (STRZA) met with 21st Century Fox (FOXA) on Tuesday to discuss a potential takeover of the cable movie service, Los Angeles Times reports, citing three people familiar with the meeting. No deal may materialize and Fox took the meeting as a courtesy, the paper adds, citing a source. Reference Link
September 23, 2014
11:29 EDTFOXATribune Co. says talks with Fox on Seattle affiliation continue
Tribune Media (TRBAA) and Twenty-First Century Fox (FOXA) have been conducting ongoing discussions regarding Tribune's Fox affiliation in Seattle, KCPQ, Tribune said. "Throughout the course of this dialogue, which is ongoing, a variety of alternatives have been discussed and there is no resolution at this time. Fox has sent to Tribune a notice of termination of the Seattle affiliation agreement effective January 17, 2015. Nonetheless, we are continuing to engage in discussions with Fox and moreover have prepared for all operational and economic possibilities for our Seattle Fox station. We are confident that our remaining thirteen Fox affiliates will remain unaffected based on regulatory and contractual constraints," Tribune reported. KCPQ contributed approximately $13M in EBITDA in FY13 for Tribune.
September 22, 2014
10:31 EDTDISDisney's "The Lion King" becomes highest grossing Broadway show, Deadline says
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06:44 EDTCMCSA, FOXA'The Maze Runner' leads weekend box office sales with $32.5M, WSJ reports
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September 21, 2014
13:37 EDTDISDisney attempts to expand to Indian film market with Khoobsurat release, FT says
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September 17, 2014
13:08 EDTDISDisney sees digital ownership up 37% year to date
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06:13 EDTFOXASky Deutschland tells investors to reject BSkyB offer
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