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Stock Market & Financial Investment News

News Breaks
March 18, 2013
06:27 EDTDISDisney's "Oz" continues to lead at the box office, Bloomberg reports
"Oz the Great and Powerful,” Walt Disney's (DIS) prequel to the classic “The Wizard of Oz,” led box-office sales for a second weekend, taking in $42.2M at theaters in the U.S. and Canada, more than double those of the weekend’s new releases, reports Bloomberg. Reference Link
News For DIS From The Last 14 Days
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February 9, 2016
13:34 EDTDISDisney technical notes ahead of results
The shares are in an active downtrend with a bearish double top pattern in play. The downside for the pattern is to the $80 area, if it completes. If the news is a bearish disappointment, the pattern is likely to continue to unfold. Initial support is at the 52-week low at $89.04. If the news is a positive surprise, the first level of significance is resistance at the $100 area. Resistance levels on the way are at $93.46 and $96.43.
12:18 EDTDISOn The Fly: Top stock stories at midday
Stocks have moved in a fairly wide range, with the Dow beginning the session with triple digit losses, moving briefly into positive territory, and now hovering near the flat line. Oil prices continue to dictate the equity market's direction, as each move of oil prices toward the plus side is followed by a subsequently positive move for stocks. With oil back below $30 per barrel, the major averages have found it hard to maintain any upward momentum. ECONOMIC EVENTS: In the U.S., wholesale sales dipped 0.3% in December, while inventories fell 0.1%. The Labor Department's Job Openings and Labor Turnover Survey showed job openings rose 261,000 in December to about 5.61M. In Asia, most major markets remain closed for Chinese New Year, but one of the exceptions, Japan, saw its main indexes plunge, as the Nikkei dropped 5.4% and the Topix fell 5.5%. COMPANY NEWS: Class A shares of 21st Century Fox (FOXA) declined 3% after the company reported lower than expected second quarter revenue, while peer Viacom (VIAB) tumbled 15% following its own revenue miss. The results of the two media conglomerates weighed on the largest name in the space, Disney (DIS), which fell 1% near noon ahead of its own earnings report, which is due after the closing bell today. MAJOR MOVERS: Among the notable gainers was Salesforce (CRM), which rose 5% after it was upgraded to Hold from Underperform at Jefferies. Also higher was Boston Scientific (BSX), which gained 4% after it announced that Medicare will cover its Watchman LAAC device. In addition, Belden (BDC) and Goodyear Tire (GT) were up 20% and 5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was ITC Holdings (ITC), which fell 2% after it agreed to be acquired by Fortis in a cash and stock deal valued at $11.3B. Also lower were Plains All American (PAA), Bristow Group (BRS) and HCP (HCP), which were down 14%, 24%, and 15%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 75.85, or 0.47%, to 15,951.20, the Nasdaq was down 16.69, or 0.39%, to 4,267.06, and the S&P 500 was down 8.08, or 0.44%, to 1,845.36.
12:03 EDTDISStocks with call strike movement; DIS MSFT
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11:09 EDTDISEarnings Watch: 'Star Wars,' ESPN in focus as Disney reports Q1 earnings
The Walt Disney Company (DIS) is scheduled to report first quarter earnings after the market close on Tuesday, February 9 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 $1.45 on revenue of $14.75B, according to First Call. The consensus range for EPS is $1.27-$1.55 on revenue of $13.51B-$15.95B. LAST QUARTER: Disney reported fourth quarter adjusted EPS of $1.20, beating estimates for $1.14, on revenue of $13.51B, just missing estimates for $13.55B. Media Networks revenue for Q4 was $5.83B vs. $5.22 in the year-ago period, Parks and Resorts revenue was $4.36B vs. $3.96B a year earlier. The company also said Studio Entertainment for Q4 was $1.78B, Consumer Products revenue was $1.2B and Interactive revenue was $347M. Operating income at Cable Networks increased$381M to $1.7B in Q4. Speaking on CNBC, Chief Executive Officer Bob Iger said the company is "really bullish" on ESPN and said the channel's future "remains very bright." Iger also commented that the company was seeing "a different media environment in general," with more competition for the consumer. Iger later said on the company's earnings conference call that "We like the environment because we think long-term it gives us more opportunities." NEWS: During the quarter, The Wall Street Journal reported that Hulu, a joint venture with Disney, Comcast (CMCSA, CMCSK) and Fox (FOX, FOXA), was in talks to sell a stake in the company to Time Warner (TWX) that would value the service at more than $5B. In a November regulatory filing, Disney disclosed that domestic subscribers for ESPN as of October 3, 2015 were 92M, a decline of 3M subscribers from the previous year, as estimated by Nielsen Media Research. In December, The Financial Times said that Disney doubled its stake in youth focused media group Vice Media to $400M. In December, Disney's "Star Wars: The Force Awakens" shattered U.S. box office records, debuting at $238M domestically for the weekend of December 20, beating analyst estimates of $200M-$230M. "Star Wars: The Force Awakens" has since crossed the $900M mark at the domestic box office, making it the only picture in history to reach this milestone. Additionally, "Star Wars" reached the $2B mark worldwide, becoming only the third film ever to do so and just the second to do it in original release. Disney's success from the newest "Star Wars" film has been somewhat overshadowed by the increase in cord-cutting and its troubling impact on ESPN, Steven Russolillo of the Wall Street Journal's Ahead of the Tape said ahead of the company's Q1 earnings. STREET RESEARCH: On the day after Disney's Q4 earnings report, Piper Jaffray analyst James Marsh said he felt the stock's valuation largely reflected the current outlook. Jefferies analyst John Janedis lowered his price target for Disney to $92 from $112 on February 1, saying domestic growth at the parks is likely to moderate. He believes investors will focus on ESPN, Shanghai and Disney's domestic parks. In January, Atlantic Equities analyst Hamilton Faber downgraded Disney to Neutral from Overweight and cut his price target to $104 from $148. Faber looked at how cord cutting will affect ESPN and is concerned about high levels of fixed costs in its sports rights while ESPN faces revenue headwinds. Also in January, JPMorgan analyst Alexia Quadrani lowered her price target for Disney shares to $120 from $124 but calls the stock "extremely attractive" at current levels. She said that concern over ESPN subscriber losses is being exaggerated. PRICE ACTION: Year-to-date, Disney shares are down over 13%. Ahead of Tuesday afternoon's earnings report, shares are lower by over 1% to $90.96.
09:34 EDTDISActive equity options trading on open
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06:35 EDTDISDisney's ESPN woes may overshadow 'Star Wars' success, WSJ says
Disney's success from the newest "Star Wars" film has been somewhat overshadowed by the increase in cord-cutting and its troubling impact on ESPN, Steven Russolillo of the Wall Street Journal's Ahead of the Tape says. When the media conglomerate reports Q1 results Tuesday, the stock's next move will probably be determined by what the company says about ESPN, the Journal says. ESPN accounts for 52% of Disney's operating income in FY15, even though its contribution has been declining for the past four years, the report says. Reference Link
February 8, 2016
13:04 EDTDISDisney volatility elevated into Q1 and outlook
Disney February weekly call option implied volatility is at 94, February is at 51, March is at 36; compared to its 52-week range of 14 to 36, suggesting large near term price movement into the expected release of Q1 results on February 9.
06:17 EDTDISCBS' Moonves eyeing bigger move to digital content, Reuters says
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February 7, 2016
17:27 EDTDIS'Kung Fu Panda' defends top spot as undead Jane Austen misses
"Kung Fu Panda 3" missed analyst forecasts for its second week at the box office but still staved off newcomers "Hail, Caesar!" and "Pride And Prejudice And Zombies," with the latter coming in sharply below estimates. WEEKEND LEADER: "Kung Fu Panda 3," produced by DreamWorks (DWA) and distributed by Fox (FOX, FOXA), grossed $21M domestically for the weekend of February 7. The film dipped roughly 49% from its $41M debut, missing expectations for $23M-$24.7M. BOX OFFICE RUNNERS-UP: Universal's (CMCSA, CMCSK) "Hail, Caesar!" debuted at $11.4M versus expectations for $10M-$11M. Directed by the Coen brothers, the comedy film features an ensemble cast of Josh Brolin, George Clooney, Ralph Fiennes, Jonah Hill, Scarlett Johansson, Tilda Swinton and Channing Tatum. Meanwhile, Fox's "The Revenant" took in another $7.1M for a U.S. total of $149.7M, while Disney's (DIS) "Star Wars: The Force Awakens" added $6.9M to its domestic tally. Rounding out the top five was Lionsgate's (LGF) "The Choice" with $6.1M against a reported budget of $10M. "Pride And Prejudice And Zombies," Sony's (SNE) undead take on the Jane Austen classic, shambled to just $5.2M despite predictions of a possible $10M-$11M open.
February 5, 2016
17:10 EDTDISComcast appears undervalued, could rise 20%, Barron's reports
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13:46 EDTDISBox Office Battle: 'Kung Fu Panda 3' expected to remain on top
DreamWorks Animation's (DWA) "Kung Fu Panda 3," starring Jack Black, is expected to retain the top spot at the box office in its second weekend of release, with an estimated domestic gross of $23M-$24.7M. Second place is likely to be a toss-up between Comcast (CMCSA, CMCSK) subsidiary Universal's "Hail, Caesar!," directed by the Coen brothers and starring George Clooney, and Lionsgate's (LGF) Jane Austen parody "Pride and Prejudice and Zombies," which are both predicted to open in the $10M-$11M range. Expected to round out the top five are Fox's (FOX, FOXA) survival story and Oscar contender "The Revenant," which is expected to earn an additional $8M-$9M, and Disney's (DIS) "Star Wars: The Force Awakens," which is expected to gross another $7M in its eighth weekend at theaters -- pushing it past the $900M mark domestically and the $2B mark globally. Other publicly traded companies involved in filmmaking include Sony (SNE), Time Warner (TWX), and Viacom (VIA, VIAB).
13:39 EDTDISDisney says new 'Star Wars' to reach $2B in global sales on Saturday
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February 4, 2016
06:28 EDTDISNews Corp not interested in Yahoo acquisition, Business Insider says
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February 3, 2016
06:16 EDTDISHulu eyes Sundance film acquisitions, Bloomberg reports
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February 2, 2016
15:46 EDTDISEarnings Watch: Media networks report amid shifts in streaming, TV landscape
Comcast (CMCSA), CBS (CBS), Time Warner (TWX), Viacom (VIA), and 21st Century Fox (FOX) are among media companies expected to report quarterly results over the next several weeks. EXPECTATIONS: Comcast is expected to report EPS of 82c on revenue of $18.77B, CBS is expected to report EPS of 93c, Time Warner is expected to report EPS of $1.00 on revenue of $7.53B, Viacom is expected to report EPS of $1.18 on revenue of $3.26B, and Fox is expected to report EPS of 44c on revenue of $7.54B. LAST QUARTER: Comcast, Fox, and viacom reported mixed results for the previous quarter, while CBS and Time Warner beat on both top and bottom lines. NEWS: On November 10, Comcast announced it expanded its advanced fiber network to Modesto, California as part of the company's ongoing response to Google (GOOG) Fiber. On November 12, the Wall Street Journal broke news that Hulu, a video streaming joint venture of Disney (DIS), Comcast and Fox, is in talks to sell a stake to Time Warner, though the Journal said on January 31 that the company has expressed dissatisfaction with Hulu's inclusion of current-season TV episodes, which it believes contributes to cord-cutting. On December 2, the Wall Street Journal reported that YouTube was holding talks with Hollywood studios and production companies to seek content licenses amid intensified competition with Netflix (NFLX), Amazon (AMZN), and Hulu. On December 9, Re/code reported that Apple (AAPL), rumored to be working on a subscription TV service, walked away from its negotiations with the major networks after being pressed to include "filler" channels in its hypothetical service. Speaking at a January 7 media conference, Time Warner CFO Howard Averill said the company was negotiating to make full seasons of TV shows available to pay-TV customers on demand, mirroring the "binge watching" offered by Netflix. On January 8, the New York Post reported that Corvex Management was considering an activist position in Time Warner. That same day, Benzinga reported that Twenty-First Century Fox remained interested in the company and had made a $105 per share acquisition offer, though Fox later denied the report. On January 14, the New York Post reported that Comcast has begun "ripping up" agreements with cable networks, moving them from basic cable onto digital tiers in response to consumer demand for smaller bundles. On January 27, Reuters reported that SpringOwl Asset Management is urging Viacom to seek outside investment from strategic partners. On January 30, the New York Post reported that Nelson Peltz is considering an activist position in Time Warner. On February 1, the National Football League announced a broadcasting agreement with CBS and Comcast's NBC which will see the two companies paying roughly $225M each for rights to the next two seasons of Thursday Night Football. Also on February 1, it was reported that Fox offered certain employees voluntary buyouts as part of a $250M cost cutting target. STREET RESEARCH: On November 5, Wells Fargo analyst Marci Ryvicker downgraded Time Warner to Market Perform after its "huge" guidance cut last quarter, with the shares also seeing downgrades at CLSA and Bank of America Merrill Lynch. On December 22, Morgan Stanley analyst Benjamin Swinburne called Comcast one of his top large cap picks for 2016, saying the company can use skinny bundles to take market share and potentially add net video customers for the first time since 2006. On January 8, research firm Stifel cut its price target on CBS to $54 from $66, citing a belief that industry syndication and SVOD revenues will significantly decelerate going forward, with CBS having more exposure to those areas than its peers. Meanwhile, JPMorgan added the company to its U.S. focus list on January 11, citing its heavily discounted stock and potentially strong EPS growth in 2016. On February 1, Pacific Crest argued that Comcast shares should be owned going into fourth quarter results, contending that the company's video and broadband investments will likely translate to increased market share and strong cash flows this year. PRICE ACTION: Comcast and Fox, the first of the media giants to report quarterly earnings, are down 2% and 3.6%, respectively, amid the broader market selloff.
February 1, 2016
07:13 EDTDISDisney price target lowered to $92 from $112 at Jefferies
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January 31, 2016
20:11 EDTDISTime Warner, Hulu talks heat up over issue of current seasons, WSJ says
Time Warner's (TWX) negotiations to potentially buy into Hulu, a joint venture of Comcast (CMCSA, CMCSK), Fox (FOX, FOXA) and Disney (DIS), have been heating up lately over the issue of Hulu subscribers being able to view current-season TV shows, reports the Wall Street Journal, citing sources. Though the feature is a differentiator for Hulu when compared to Netflix (NFLX) and Amazon (AMZN), Time Warner believes the presence of full, current seasons contributes to cord cutting, the report says. Reference Link
18:07 EDTDIS'Kung Fu Panda 3' swings to first, 'Finest Hours' lands in choppy waters
"Kung Fu Panda 3" topped the box office in its U.S. debut while nautical disaster drama "The Finest Hours" floundered. WEEKEND LEADER: "Kung Fu Panda 3," produced by DreamWorks (DWA) and distributed by Fox (FOX, FOXA), grossed $41M against expectations for $35M-$50M in its domestic debut during the weekend of January 31. The computer-animated action comedy, featuring the voices of Jack Black, Dustin Hoffman and Angelina Jolie, set a new box office record for January animated film openings but fell somewhat short of the $60.2M and $47.7M debuts seen by previous films in the franchise. BOX OFFICE RUNNERS-UP: "The Revenant," also from Fox, grossed $12.4M. Disney's (DIS) "Star Wars: The Force Awakens" took in an additional $10.8M and stands at $1.98B globally, while the company's "The Finest Hours" earned $10.3M in its domestic start despite an estimated $70M-$80M budget. Rounding out the top five was Universal's (CMCSA, CMCSK) "Ride Along 2" with $8.3M.
January 29, 2016
12:53 EDTDISBox Office Battle: 'Kung Fu Panda 3' expected to kick 'Revenant' from top spot
DreamWorks Animation's (DWA) "Kung Fu Panda 3" featuring Jack Black is expected to break the record for the largest January opening for an animated feature, topping the opening of "The Nut Job" in 2014. The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. With a strong base of Po the Panda fans and the popularity of a recent TV show, conservative early estimates say "Panda 3" is expected to bring in $35M-$50M. Also opening this weekend are Disney's (DIS) "The Finest Hours," starring Chris Pine, and Open Road Films' "Fifty Shades of Black," starring Marlon Wayans. "The Finest Hours" may disappoint, with expectations topping out at $10M in its opening weekend. "Fifty Shades of Black," meanwhile, is the latest spoof movie from the team of Wayans and Michael Tiddes from "Haunted House" fame. The last film from Wayans had an opening weekend of $8.8M, and this one is currently expected to take in a similar amount. Both films will battle with Fox's (FOX, FOXA) survival story and Oscar contender "The Revenant," starring Leonardo Dicaprio, and Disney's (DIS) "Star Wars: The Force Awakens" for spots in the top five. "The Revenant" and "Star Wars" should each take in $9M-$12M even as they continue to lose theaters this coming weekend. Other publicly traded companies involved in filmmaking include Lionsgate (LGF), Comcast (CMCSA, CMCSK), and Sony (SNE).
January 28, 2016
09:38 EDTDISActive equity options trading on open
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