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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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January 21, 2015
08:39 EDTDISDisney reports five employees affected by California measles outbreak, AP says
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06:17 EDTDISOverstock to introduce streaming-video service later this year, WSJ reports
Overstock.com (OSTK) is planning to launch a streaming-video service later this year, CEO Patrick Byrne announced at the National Association of Television Program Executives conference, The Wall Street Journal reports. Overstock would compete in the space with Amazon (AMZN), Hulu (DIS, CMCSA, CMCSK, FOXA), Netflix (NFLX), and Time Warner's (TWX) HBO is also planning a standalone online streaming service that will launch this year. The new Overstock service would be tied to the company's $20-per-year Club O membership program and will launch with about 30,000 titles. Reference Link
January 20, 2015
17:46 EDTDISNetflix says 'looking good' to reach 60M-90M U.S. subscriptions
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14:00 EDTDISFCC fines Viacom, ESPN $1.4M after brodcasting EAS tones to promote movie
The Federal Communications Commission fined Viacom (VIA) and ESPN (DIS) $1.4M for misusing the Emergency Alert System warning tones. The cable networks transmitted EAS warning tones for several days in 2013 to promote the movie “Olympus Has Fallen,” which portrayed a terrorist attack on Washington, D.C. Broadcast or transmission of these tones outside an emergency or test violates the FCC’s laws protecting the integrity of the system. The networks admitted that the commercial contained actual EAS codes and appeared multiple times on the networks. In March 2014, the FCC proposed a total fine of $1,930,000 against NBCUniversal (CMCSA), ESPN, and Viacom. NBCUniversal paid its $530,000 fine, but ESPN and Viacom objected and requested reductions. The FCC rejected their arguments and imposed fines of $1,120,000 against Viacom and $280,000 against ESPN. The fines, which differ based on several factors including the number of channels involved and the number of transmissions on each channel, must be paid in 30 days.

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