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Stock Market & Financial Investment News

News Breaks
February 4, 2014
12:25 EDTDISEarnings Preview: Analyst predicts Disney will report stronger than expected Q1
The Walt Disney Company (DIS) is scheduled to report first quarter earnings after the market close on Wednesday, February 5 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 91c on revenue of $12.23B, according to First Call. The consensus range for EPS is 84c-97c on revenue of $11.92B-$12.54B. LAST QUARTER: Disney reported fourth quarter EPS of 77c against estimates for 76c on revenue of $11.57B against estimates for $11.4B. The company's media networks revenue was $4.95B vs. $4.88B a year prior and its parks and resorts revenue was $3.7B, up 8% from a year prior. The company reported its Q4 cable networks operating income $1.3B. Disney (DIS) Chairman and CEO Bob Iger disputed rumors that the company could be looking to sell its eight ABC TV stations. Iger commented, "These have been good assets for us... We don't comment about acquisitions or divestitures, but I don't think it would be wise to either predict or to conclude that these assets were on the market." NEWS: During the quarter, Disney raised its annual dividend 15% to 86c per share. The Wall Street Journal recently reported that Disney's interactive-media unit will cut "several hundred" people from its workforce, with cuts likely starting after the company's quarterly report. Earlier in the quarter, Disney's Pixar Animation Studios laid off less than 5% of its 1,200-person workforce following the delay of its upcoming film, "The Good Dinosaur." Disney elected Twitter's Jack Dorsey to its board of directors. Barron's said Discovery Communications (DISCA) could bid for Scrips Networks (SNI) and that may spark interest in Discovery by Disney, Viacom (VIAB) or Fox (FOXA). Hulu said on its blog that it will reach $1B in revenue in 2013, up from $695M in 2012. STREET RESEARCH: Stifel predicts that Disney will report stronger than expected Q1 results, and expects the company's results to generally be upbeat. Bernstein believes that Disney's stock probably doesn't adequately reflect the value of the A&E Television Network. The firm thinks the network's operating outlook is stable to improving, and it values the asset at $23.5B. B. Riley downgraded the stock to Neutral from Buy. PRICE ACTION: Year-to-date, Disney shares are down almost 7%. Over the last three months, Disney shares are up over 3%, and shares are up over 1.5% today ahead of tomorrow's earnings report.
News For DIS From The Last 14 Days
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March 2, 2015
12:00 EDTDISFCC probing Comcast, Time Warner Cable, The Verge says
The FCC is investigating whether Comcast (CMCSA) or Time Warner Cable (TWC) limited or restricted companies' ability to access streaming video services, according to The Verge, which cited an FCC document. Disney (DIS), CBS (CBS), and Viacom (VIA) were among the companies approached by the FCC about the matter, The Verge stated. Reference Link
February 27, 2015
06:07 EDTDISTiVo, RPX buy Aereo assets, WSJ says
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February 26, 2015
12:48 EDTDISEarnings Preview: J.C. Penney sees Q4 SSS at high end of 2%-4% view
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February 25, 2015
11:47 EDTDISAnalysts clash on DreamWorks following Q4 miss
The shares of animated film and television show maker DreamWorks (DWA) are rising, despite the weaker than expected results reported by the company last night. Two analysts offered very different views on the company's outlook following its results. BACKGROUND: DreamWorks last night reported a fourth quarter per share loss of ($3.08), versus analysts' consensus outlook for a ($3.01) per share loss. The company's revenue also came in below expectations. Excluding $210M in pre-tax charges associated with DreamWorks' restructuring plan, its loss was (75c) per share, the company stated. BEARISH TAKE: In a note to investors today, FBR Capital analyst Barton Crockett wrote that DreamWorks' results were "ugly," as they included $155M of write-offs on films and TV shows. However, Crockett believes that the crucial factor for the company's outlook is whether it can consistently compete with the entertainment giants, including Disney (DIS), Viacom (VIA), and Time Warner (TWX). Crockett is not convinced that DreamWorks will be able to hold its own, and he believes that its 2015 results could come in below expectations. The analyst warned that the company may have difficulty meeting its 2015 consumer products revenue guidance. DreamWorks expects its consumer products revenue to double this year, but the movie-based toy space is "very competitive" in 2015, as toys based on multiple popular children's films are set to be released, Crockett stated. Moreover, after conducting checks online, Crockett reports that there does not seem to be a great deal of interest in DreamWorks' movie "Home," which is set to be released on March 27. He kept an Underperform rating on the shares and raised his price target on the stock to $14 from $12. BULLISH TAKE: DreamWorks' results were mixed, but the results are not very important, Piper Jaffray analyst James Marsh stated. The company's guidance for its TV and consumer products businesses were solid, the analyst believes. Moreover, the company "took specific and decisive action" to avert a liquidity crunch, Marsh wrote. Specifically, DreamWorks raised $185M of capital by selling its real estate in Glendale, California and then leasing it back, and increased the size of its current credit facility to $450M from $400M, Marsh reported. The moves should "largely" eliminate investors' worries about the company's liquidity position, Marsh stated. He kept a $26 price target and Overweight rating on the stock. WHAT'S NOTABLE: On DreamWorks' earnings conference call last night, the company's CEO Jeffrey Katzenberg stated that it did not obtain more than 10% of its revenue from Netflix (NFLX) last year. However, in an SEC filing earlier this morning, DreamWorks clarified that it had obtained 14.9% of its revenue from Netflix last year. PRICE ACTION: In late morning trading, DreamWorks rose 5.6% to $22.31.
February 23, 2015
18:13 EDTDISBob Chapek named Chairman, Walt Disney Parks and Resorts
Bob Chapek has been named Chairman, Walt Disney Parks and Resorts, it was announced by Robert A. Iger, Chairman and CEO, and Thomas O. Staggs, COO, The Walt Disney Company. A 22-year veteran of The Walt Disney Company, Chapek has served since 2011 as President of Disney Consumer Products, driving a technology-led transformation of the company’s consumer products, retail and publishing operations. He assumes his new role effective immediately.
11:35 EDTDISAmazon picks Benson to head advertising for original TV series, Variety says
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February 22, 2015
13:03 EDTDISDisney raises prices at the Magic Kingdom, Orlando Sentinel says
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February 17, 2015
12:56 EDTDISDecline of TV viewing accelerated, NY Post reports
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