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Stock Market & Financial Investment News

News Breaks
March 11, 2014
13:09 EDTGOOG, DISDisney weighs purchase of YouTube network Maker Studios, Re/code says
Disney (DIS) is in talks with Maker Studios, a video network that publishes videos on Google's (GOOG) YouTube platform and generates 5.5B video views per month, in a deal that could value Maker at $500M or more, Re/code reports, citing people familiar with the negotiations. Reference Link
News For DIS;GOOG From The Last 14 Days
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November 17, 2014
06:35 EDTDIS'Dumb and Dumber To' takes first at the box office from 'Big Hero 6', WSJ says
Comcast (CMCSA) company Universal Pictures' "Dumb and Dumber To" brings in $38.1M at the box office, taking first away from Disney's (DIS) "Big Hero 6," which brought in $36M this weekend, reports the Wall Street Journal. "Big Hero 6" has a two week total of $111.7M in North America, the Journal adds. Reference Link
06:23 EDTGOOGFacebook working on 'Facebook at Work' website, FT reports
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06:10 EDTGOOGGoogle partners with Telstra to test Project Loon in Australia, SMH reports
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November 14, 2014
17:13 EDTDISAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
17:07 EDTGOOGSoros Fund Management gives quarterly update on stakes
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14:46 EDTDISDisney movies service partnering with Wal-Mart's Vudu, Reuters reports
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06:37 EDTDISDreamWorks competes with key Hasbro partner Disney, NY Times says
After multiple news outlets reported that Hasbro (HAS) was in talks about buying DreamWorks (DWA), The New York Times says that the toy maker holds very lucrative contracts with Disney (DIS), which views DreamWorks as a key competitor. Hasbro gets up to 30% of its revenue from products linked to Disney, the newspaper quoted some analysts as saying. Reference Link
06:00 EDTGOOGGoogle to retire Google Wallet for digital goods API on March 2, 2015
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November 13, 2014
14:26 EDTGOOGAVG Technologies, Google renew Internet search and advertising agreement
AVG Technologies (AVG) announced earlier it has signed a renewal of its Internet search and advertising services agreement with Google (GOOG; GOOGL). The agreement has a 16-month term. AVG Technologies advised that the company's news release earlier today included an incorrect statement of the terms of the Google contract.
07:01 EDTDISHasbro deal with Disney could be impacted with merger, says Piper Jaffray
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06:22 EDTGOOGLenovo, Asustek to launch $149 Chromebook, DigiTimes reports
Lenovo and Asustek plan to release Chromebooks using Google (GOOG) certified solutions from Rockchip in 1H15, reports DigiTimes. According to DigiTimes Resarch's latest finding from the Greater China supply chain, the devices are expected to be priced at $149. Reference Link
06:20 EDTGOOGAmazon's Web-services chief not threatened by cash threat from rivals, WSJ says
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November 12, 2014
13:04 EDTGOOGYouTube launches Music Key beta monthly subscription service
Google introduced YouTube Music Key beta, a monthly subscription service starting with the promotional price of $7.99/month, discounted from $9.99/month, that will feature ads-free music, background play and offline viewing. It will also include a subscription to Google Play Music, which in the coming days will be upgraded to give users the ability to watch many YouTube official music videos right from the app. "Starting today, you’ll see a new home just for music on your YouTube app for Android, iOS and on YouTube.com that shows your favorite music videos, recommended music playlists based on what you’re into and playlists of trending music across YouTube," Google also stated in its blog post related to the launch. Reference Link
12:56 EDTGOOGFCC chairman disagrees with Obama on Internet rules, Washington Post says
FCC Chairman Tom Wheeler told the executives of major Internet companies that he favors a more nuanced solution for regulating the Internet than the one suggested by President Obama, according to The Washington Post. Wheeler said he would "try to split the baby" between the president's proposal and the agenda of Internet executives who don't want the rules to affect their business, the newspaper stated, citing four unnamed sources who attended a meeting with Wheeler. Comcast (CMCSA), Time Warner Cable (TWC), Verizon (VZ), Cablevision (CVC) ,and AT&T (T) are major Internet Service Providers. Executives from Google (GOOG) and Yahoo (YHOO) were at the meeting with Wheeler, the newspaper said. . Reference Link
11:44 EDTDISSeaWorld sinks to 52-week low after Q3 profit, attendance fall
Shares of theme park and entertainment company SeaWorld (SEAS) are plunging after the company’s profit, attendance and adjusted EBITDA all fell significantly on a year over year basis. The also forecast fiscal year 2014 revenue and adjusted EBITDA to be down from last year. WHAT'S NEW: This morning, SeaWorld reported Q3 adjusted earnings per share of $1.01, missing analysts' $1.13 consensus by 12 cents. Revenue for the quarter was $495.84M, compared to analysts' consensus estimates of $495.4M. Adjusted EBITDA in the quarter was $209.1M, a decrease of $45.3M, or 18%, compared to the third quarter of 2013. Attendance in Q3 ws 8.4M, down from 8.9M a year ago. The company believes the decline in attendance results from a combination of factors including negative media attention in California along with a challenging competitive environment, particularly in Florida. The competitive challenges in Florida relate to significant new attraction offerings at competitor destination parks, along with a delay in the scheduled opening of one of the company's new rides at its Busch Gardens Tampa park. The decrease in total revenue in the third quarter was primarily driven by a 5.2% decline in attendance, along with a 2.9% decline in total revenue per capita from $60.74 in the third quarter of 2013 to $58.99. WHAT’S NOTABLE: Looking ahead, SeaWorld forecast FY14 revenue and adjusted EBITDA to be down 6%-7% and 14%-16%, respectively. The FY14 revenue consensus ahead of the company's report was $1.37B. The company also said it expects to take a restructuring charge of up to $13M in Q4 related to its cost reduction initiatives. The company sees FY14 capital expenditures to be in the range of $155M-$165M and fiscal year 2015 CapEx to be in the range of $185M-$195M. Jim Atchison, the company's Chief Executive Officer, noted that the attendance trends the company experienced in the latter part of the second quarter continued into Q3. He called 2014 a “challenging year,” and said the company was executing a cost savings plan that is expected to deliver approximately $50M of annual cost savings by the end of 2015. He also said the company was adjusting its attraction and marketing plans to address immediate top-line concerns. PRICE ACTION: In late morning trading, SeaWorld fell $2.24, or 12.04%, to $16.36 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $16.53. Including today's pull back, the shares have lost approximately 48% over the past 12 months. OTHERS TO WATCH: Other companies in the theme park space include Disney (DIS), up 0.03%, Six Flags (SIX), down 0.16%, and Cedar Fair (FUN), up 0.76%.
11:14 EDTGOOGGoogle DoubleClick says software bug fixed
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10:43 EDTDISBernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
10:28 EDTGOOGGoogle says aware of, working on problem with DoubleClick, CNBC reports
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07:51 EDTDISDisney trades at a premium despite low forward growth, says Cowen
Cowen raised its price target on Disney shares to $83 from $75, but reiterated its Market Perform rating on Disney shares, citing the stock's premium trading valuation despite the lowest forward earnings growth of its peer group. The firm also cited higher sports programming costs, as well as difficulty envisioning outperformance to current estimates.
06:12 EDTGOOGVestager says not all concerns about Google can be covered by inquiry, WSJ says
New EU antitrust chief Margrethe Vestager says she will investigate the concerns posed by Google’s control over large amounts of data, but notes that not all of society’s concerns can be addressed by the competition case, the Wall Street Journal reports. Reference Link
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