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Stock Market & Financial Investment News

News Breaks
July 16, 2014
07:43 EDTDISCA, FOXA, TWXDiscovery volatility expected to move on Time Warner rejecting 21st Century Fox
Discovery (DISCA) volatility expected to move after Time Warner (TWX) rejected an $80B offer from 21st Century Fox, (FOXA). Overall option implied volatility of 25 is near its 26-week average of according to Track Data, suggesting non-directional price movement. Discovery is expected to release of Q2 results on July 31.
News For DISCA;FOXA;TWX From The Last 14 Days
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October 21, 2014
09:55 EDTTWXBlackout not 'game changer' for Time Warner, DISH, says Wells Fargo
Wells Fargo believes the removal of several of Time Warner's (TWX) Turner channels from DISH's (DISH) line-up will not be a "game changer" for either company. Wells notes the majority of Time Warner's affiliate growth comes from TNT and TBS networks, and it does not expect the channel loss to impact DISH's subscriber trends. The firm expects the networks to come back to DISH "eventually."
October 20, 2014
09:31 EDTDISCARobinhood.org to hold conference
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06:49 EDTFOXATumblr, TV shows collaborate to broaden reach, NY Times says
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06:34 EDTDISCAHasbro reports pre-tax charge due to restructuring of Hub Network
On September 25, Hasbro (HAS) and Discovery (DISCA) announced Hub Network would become Discovery Family Channel effective October 13, 2014. The network will broaden its programming focus to serve families in primetime and continue to showcase Hasbro Studios award-winning children’s content in daytime. As a result of restructuring the Company’s investment in the Hub Network joint venture, the Company recorded a pre-tax charge of $11.6M, or 6c per diluted share, in the third quarter 2014. This net charge is primarily related to the costs associated with recording the fair value of a put/call option exercisable at the end of 2021 that the Company and Discovery entered into related to this transaction.
October 19, 2014
18:38 EDTFOXASony's ‘Fury’ wins at the box office,'Gone Girl' keeps second place, WSJ says
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17:39 EDTFOXADish's AutoHop wins wins tentative ruling over Fox, Bloomberg says
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October 17, 2014
10:58 EDTTWXHBO streaming service may cost around $15 a month, The Information reports
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09:33 EDTFOXATribune, 21st Century Fox renew, extend Seattle affiliate agreement
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08:00 EDTTWXHBO may have fight with cable operators over OTT service price, Reuters says
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October 16, 2014
16:30 EDTTWXOn The Fly: Closing Wrap
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12:29 EDTTWXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, though well off their worst levels. The market opened sharply lower following less than stellar quarterly reports from some of the country’s largest corporations and a number of in-focus "momentum" names such as Netflix (NFLX) and eBay (EBAY). The early drop extended the market’s recent declines and put the averages close to correction territory. The market moved off its lows after a regional Fed president, who'd recently been seen as hawkish, said in an interview that the central bank should consider delaying the end of quantitative easing and that it should be more data driven than time driven. The comments were attributed as the catalyst for a reversal that brought the averages all the way back to positive territory, though the market has once again drifted back into negative ground. ECONOMIC EVENTS: In the U.S., initial jobless claims decreased by 23K to 264K last week to hit their lowest level since April 2000. Industrial production rebounded 1.0% in September, beating expectations for a rise of 0.4% and pushing capacity utilization up to 79.3% from 78.7% previously. The Philadelphia Fed manufacturing index fell 1.8 points to 20.7 in October, which was not as low as the expected 19.9 reading. The NAHB homebuilder sentiment index fell 5 points to 54 in October, versus expectations for it to hold steady at 59. Also of significant note, St. Louis Fed President James Bullard, who is not a voting FOMC member though was quoted recently saying that a rate hike might be appropriate as soon as early next year, reversed course this morning and told Bloomberg in an interview that the Fed should consider delaying an end to its quantitative easing program. COMPANY NEWS: Shares of Netflix (NFLX) plunged 22% after the company provided lower than expected Q4 profit guidance and reported lower than expected subscriber data. The move after its earnings report last night also follows Time Warner's (TWX) announcement yesterday of plans for a standalone HBO online service and Piper Jaffray saying it believes CBS (CBS) will similarly launch an over-the-top Showtime offering next year... eBay (EBAY) shares slipped nearly 6% after the company missed revenue expectations for the third quarter and lowered its outlook for fiscal 2014. Following the report, analysts at both RBC Capital and CLSA downgraded the stock. MAJOR MOVERS: Among the notable gainers was Chesapeake Energy (CHK), which rose 17% after the company announced that it sold Marcellus and Utica shale assets to Southwestern Energy (SWN) for $5.375B. Shares of the buyer Southwestern, however, fell 8% after the deal announcement. Also lower was Extreme Networks (EXTR), which dropped almost 19% after cutting its first quarter outlook citing significant delays with its North American deals as well as headwinds in Europe. INDEXES: Near midday, the Dow was down 28.46, or 0.18%, to 16,113.28, the Nasdaq was down 16.16, or 0.38%, to 4,199.16, and the S&P 500 was down 2.08, or 0.11%, to 1,860.41.
10:49 EDTTWXCBS likely to launch Showtime OTT service in 2015, says Piper Jaffray
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10:01 EDTTWXOn The Fly: Analyst Upgrade Summary
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09:18 EDTTWXMoonves: Showtime standalone service in 'not too distant future,' NY Times says
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08:37 EDTTWXTime Warner upgraded at Topeka
As previously reported, Topeka upgraded Time Warner to Buy from Hold. The firm upgraded shares citing better than expected guidance targeted at yesterday's analyst day. Price target raised to $90 from $70. Note that BofA/Merrill also upgraded shares today.
08:23 EDTTWXTime Warner price target raised to $85-$90 from $79-$81 at Wells Fargo
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07:49 EDTTWXTime Warner upgraded at BofA/Merrill
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07:47 EDTTWXTime Warner added to Focus List at JPMorgan
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07:10 EDTTWXTime Warner upgraded to Buy from Hold at Topeka
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06:31 EDTTWXTime Warner upgraded to Buy from Neutral at BofA/Merrill
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