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Stock Market & Financial Investment News

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March 12, 2012
12:08 EDTMTU, DANG, XOM, PCBC, KUTV, TZYM, ZOLL, RENN, YOKU, TUDO, DISOn The Fly: Mid-Day Wrap
Stocks on Wall Street were mixed at mid-day, with the Dow higher and the Nasdaq lower, but neither by a wide margin. The Dow is being led by the shares of Exxon Mobil (XOM), which are up more than 1.3% despite oil being down more than $1.00 a barrel. The averages have moved in a narrow range in a low-volatility, low-volume session. Investors are looking to tomorrow's FOMC meeting for clues as to any change in the Fed's strategy... ECONOMIC EVENTS: In the U.S., the economic calendar was light today, but will be heavier the rest of the week, with reports due on retail sales, consumer sentiment and small business optimism along with a rate meeting for the FOMC. With little domestic data, investors focused on international news, most notably China's February trade deficit of $31.5B, which was its largest in over 20 years... MARKET NEWS: Disney's (DIS) expensive sci-fi film "John Carter" opened to disappointing domestic grosses, as widely expected... Tudou Holdings (TUDO) jumped almost 150% following its acquisition by Youku.com (YOKU), which also saw its shares rise about 18%. Other Chinese media and tech names also traded higher following the news, with Renren (RENN), Ku6 Media (KUTV), and Dangdang (DANG) among those advancing... MAJOR MOVERS: Among the notable gainers were ZOLL Medical (ZOLL), after agreeing to a $93 per share buyout offer from Asahi Kasei, and Pacific Capital Bancorp (PCBC), which agreed to be acquired for $46 per share by UnionBanCal, a subsidiary of Mitsubishi UFJ Financial (MTU). Noteworthy losers included Tranzyme (TZYM), after saying a Phase 3 trial of one of its drugs failed to meet its endpoints, and Anthera Pharmaceuticals (ANTH), following downgrades at Citigroup and Cowen after one of its trials was halted due to the lack of the drug's efficacy... INDICES: Near noon, the Dow was up 14.15, or 0.11%, to 12,936.17; the Nasdaq was down 11.15, or 0.37%, to 2,977.19; and the S&P 500 was down 3.34, or 0.24%, to 1,367.53.
News For DIS;TUDO;YOKU;RENN;KUTV;DANG;ZOLL;PCBC;MTU;TZYM;XOM From The Last 14 Days
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November 17, 2014
10:10 EDTDISDreamWorks sinks, Hasbro rebounds after takeover talks reportedly end
Shares of movie maker DreamWorks (DWA) are tumbling after multiple media outlets reported that talks about a takeover of the company by Hasbro (HAS) had ended. WHAT'S NEW: Talks about an acquisition of DreamWorks by Hasbro have ended, multiple news outlets including The Wall Street Journal and Deadline reported over the weekend. However, Deadline, citing unnamed sources, reported that there's "still a slight chance" that the talks will resume. Hasbro's CEO and board visited DreamWorks' campus recently and a potential name for the combined entity - DreamWorks-Hasbro - was discussed, Deadline stated. Hasbro halted the talks because it became concerned about the negative reaction of its stock to reports about the discussions, Deadline added. Barron's weighed in on the issue over the weekend, writing that the deal "doesn't make sense economically." Partnering with DreamWorks would be logical for Habro, but buying DreamWorks would not be a good move for the toy maker, Barron's stated. DreamWorks' recent inability to create big hits or generate free cash makes it a poor takeover target for Hasbro, Barron's indicated. WHAT'S NOTABLE: In a note to investors on Thursday, Sterne Agee analyst Vasily Karasyov wrote that there is "no industrial logic" whatsoever to a combination of DreamWorks and Hasbro. Karasyov said there was no good reason for Hasbro to buy DreamWorks for $35 per share, the price that the movie maker was seeking, according to some reports. Karasyov predicted that the deal would not occur and kept a $17 price target and Underperform rating on the shares. Additionally, Piper Jaffray said the possible acquisition of DreamWorks Animation by Hasbro could have impacted the latter company's partnership with Disney (DIS). Piper thought buying a competing animation company could alter Disney's view of Hasbro as a partner. PRICE ACTION: In early trading, DreamWorks fell 15% to $22.08, while Hasbro gained 4.3% to $56.33.
07:12 EDTXOMBloomberg / Mayer Brown to co-host a conference
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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
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).
14:46 EDTDISDisney movies service partnering with Wal-Mart's Vudu, Reuters reports
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10:00 EDTYOKUOn The Fly: Analyst Downgrade Summary
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09:24 EDTYOKUYouku Tudou downgraded to Underweight from Neutral at HSBC
09:16 EDTYOKUOn The Fly: Pre-market Movers
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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
November 13, 2014
17:13 EDTYOKUYouku Tudou sees Q4 revenue RMB1.15B-RMB1.22B, consensus RMB1.21B
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17:10 EDTYOKUYouku Tudou reports Q3 adjusted EPS RMB(50c) , consensus RMB(82c)
Reports Q3 revenue RMB1.11B, consensus RMB1.10B.
15:18 EDTYOKUNotable companies reporting after market close
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07:01 EDTDISHasbro deal with Disney could be impacted with merger, says Piper Jaffray
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November 12, 2014
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%.
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.
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.
05:42 EDTYOKUYouku Tudou announces partnership with Xiaomi
Youku Tudou announced that it has entered into a strategic partnership with Xiaomi. The partnership aims to accelerate the development of its multi-screen media and entertainment ecosystem. The two companies will jointly develop content and technology, including developing multi-screen online video services. Xiaomi will invest in Youku Tudou by acquiring the latter's stock on the open market. It will also license content from Youku Tudou, and the two companies will jointly invest in the production and distribution of online video content and movies.
November 11, 2014
18:19 EDTDISCBS, Disney look to block FCC Comcast merger disclosures, Bloomberg says
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November 10, 2014
15:57 EDTDISWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
09:27 EDTYOKUXiaomi rumored to mull stakes in Youku Tudou, Baidu unit, Marbridge Daily says
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