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Stock Market & Financial Investment News

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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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July 18, 2014
12:21 EDTDISCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
11:04 EDTDISComcast, ESPN reach agreement on carriage of SEC Network, Reuters says
08:21 EDTDISTime Warner merger could change Warner Bros. spot in tv landscape, WSJ says
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July 17, 2014
09:31 EDTDISNetflix, Disney announce multi-year pay TV window agreement in Canada
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09:31 EDTDISMattel says 'Frozen' brand continuing to grow
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06:37 EDTDISFox purchase of Time Warner would challenge ESPN, Reuters says
If 21st Century Fox (FOXA) buys Time Warner (TWX), Fox would mount a significant challenge to Disney's (DIS) ESPN, according to Reuters. An acquisition of Time Warner would add March Madness, prime-time NBA games, and more Major League Baseball games to Fox's already significant arsenal of popular sports events, the news service explained. Reference Link
July 16, 2014
12:26 EDTDISOn The Fly: Midday Wrap
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07:30 EDTDISTime Warner turned down $80B offer from 21st Century Fox, NYT says
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07:24 EDTDISSiemer & Associates to hold a summit
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05:58 EDTDISCBS CEO says 'willing to talk' to Aereo, VentureBeat reports
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July 15, 2014
06:43 EDTDISTime Warner looks for NBA programming deal renewal, Bloomberg says
Time Warner (TWC) and Disney's (DIS) ESPN are looking to renew the last big U.S. sports agreement with the National Basketball Association thatís up for grabs until 2021, according Reuters, citing people familiar with the talks. Time Warner and Disney, which divvy-up airing the games, pay the league an average total of $930M annually. Reference Link
06:36 EDTDISNBA seeks to double TV-rights fees from Disney, Time Warner, WSJ reports
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July 14, 2014
06:56 EDTDISDisney, CBS, Discovery questioned over Comcast merger, Bloomberg says
Disney (DIS), Discovery (DISCA) and CBS (CBS) are being questioned by U.S. antitrust officials who are investigating Comcast's (CMCSA) planned purchase of Time Warner Cable (TWC), according to Bloomberg, citing three people familiar with the matter. Reference Link
July 13, 2014
11:23 EDTDISHulu and South Park announce exclusive multi-year content licensing deal
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July 10, 2014
07:14 EDTDISAereo seeks to survive as cable system, WSJ says
Following its Supreme Court loss, Aereo is now arguing that it should be classified as a cable system and receive a compulsory license that would give it legal access to content and allow it to continue operating, reported The Wall Street Journal. Television broadcasters that own the copyrights in many of the programs that Aereo streams, including CBS (CBS), Disney (DIS), 21st Century Fox (FOXA), and Comcast (CMCSA), successfully sued the service for copyright infringement. In addition to Comcast, publicly-traded cable companies include Time Warner Cable (TWC), Cablevision (CVC), and Charter (CHTR). Reference Link
July 9, 2014
10:02 EDTDISOn The Fly: Analyst Initiation Summary
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07:10 EDTDISDisney ceases on-demand movie sales in Japan via iTunes, Reuters says
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July 8, 2014
18:18 EDTDISU.S. Media sector initiated with a Neutral at Barclays
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18:09 EDTDISDisney initiated with an Equal Weight at Barclays
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07:43 EDTDISComcast growing clout in mobile ads troubling rivals, WSJ says
Executives at several of the large partners to FreeWheel, an online video advertising company acquired by Comcast (CMCSA) in April, are concerned that the cable giant is gathering too much influence over the digital-TV business that will be vital as viewing shifts from traditional sets to mobile devices and tablets, according to The Wall Street Journal. The report lists Time Warner (TWX), Viacom (VIA, VIAB) Disney (DIS) and 21st Century Fox (FOXA) as among FreeWheel's customers, but does not attribute the concerns to executives at any of them specifically. Reference Link
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