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April 11, 2014
06:12 EDTSNE, DWA, VIVHYDreamWorks Animation may look to take a piece of Vevo, Re/code reports
DreamWorks (DWA) may be looking to expand by taking a piece of Vevo, a company owned primarily by Vivendi's (VIVHY) Universal Music Group, Sony (SNE) Music and Abu Dhabi Media, reports Re/code. According to industry sources, CEO Jeffrey Katzenberg submitted a bid to Vevo's owners this week. The amount of the stake is unknown. Reference Link
News For DWA;SNE;VIVHY From The Last 14 Days
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January 23, 2015
12:45 EDTDWADreamWorks Animation tumbles, levels to watch
The stock was last at $19.28, off the earlier low of the day at $18.30, which is a new 52-week low and current support. Resistance is at $20.08, the session high.
12:36 EDTDWAAnalysts disagree on DreamWorks after restructuring news
Two analysts disagreed on the outlook for animated film maker DreamWorks Animation (DWA) after the company last night announced that it would implement a restructuring initiative. BACKGROUND: DreamWorks said that it will reduce the amount of films it produces annually to two from three. The company added that it would lay off about 500 of its employees and take a pre-tax charge of about $290M as a result of its restructuring. BULLISH TAKE: Piper Jaffray analyst James Marsh upgraded DreamWorks to Overweight from Neutral following the company's announcement. The film maker has finally brought its production costs under control, and the stock's risk/reward ratio is positive, Marsh believes. DreamWorks’ earnings before interest, taxes, depreciation and amortization margins will jump to 18%-20% by 2016, up from 10%-12% today, the analyst stated. BEARISH TAKE: Janney Capital analyst Tony Wible downgraded DreamWorks to Sell from Hold, writing that the restructuring will undermine the company's growth for two years and cause investors to become concerned about its liquidity position. Meanwhile, the company's film business is unlikely to grow significantly until 2017, Wible added. On the other hand, DreamWorks remains an attractive takeover candidate for a foreign buyer, and its book value per share is relatively high, the analyst stated. PRICE ACTION: In early afternoon trading, DreamWorks fell 85 to $19.65. Earlier today the shares set a new 52 week low of $18.30.
12:33 EDTDWAOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq leading and the Dow lagging. The futures dipped this morning after UPS (UPS) pre-announced that its quarterly earnings would miss Street estimates. The earnings miss dragged other transportation names lower. ECONOMIC EVENTS: In the U.S., Markit's preliminary January manufacturing PMI fell to 53.7 from 53.9 previously, versus expectations for a reading of 54.0. Existing home sales rebounded 2.4% to a 5.04M rate in December, which was below the consensus forecast for a 3% increase. The leading indicators rose 0.5% to 121.1 in December, topping expectations for a rise of 0.4%. COMPANY NEWS: Shares of UPS plunged over 9% after the shipping giant warned that its Q4 adjusted EPS is now expected to be $1.25, below the consensus forecast of $1.47. "UPS invested heavily to ensure we would provide excellent service during peak when deliveries more than double. Though customers enjoyed high quality service, it came at a cost to UPS. Going forward, we will reduce operating costs and implement new pricing strategies during peak season,” said CEO David Abney. Subsequently, its peer, FedEx (FDX), reaffirmed its FY15 EPS forecast of $8.50-$9.00. The outlook compares to a consensus forecast of $8.97. FedEx shares, which were briefly halted for the announcement, are down 2% afterward... Shares of McDonald’s (MCD) slid about 1% near noon after its earnings miss, though the world’s largest restaurant chain's same-store sales declined less than analysts expected. Same-store sales in the company's fiscal fourth quarter declined 0.9%, versus the Consensus Metrix analysts' estimate for a 1.5% drop. Of note, McDonald’s U.S. same-store sales had their first monthly gain in more than a year in December, having risen 0.4%. MAJOR MOVERS: Among the notable gainers was Starbucks (SBUX), which rose 6.5% and had several research firms issue upbeat notes after the company reported in-line results last night. At least three firms responded to the report by raising their price targets on the shares. Also higher was Array BioPharma (ARRY), which jumped 38% after announcing that it has reached a definitive agreement with Novartis (NVS) to acquire worldwide rights to encorafenib, a BRAF inhibitor currently in Phase 3 development. Among the noteworthy losers was Avon Products (AVP), which dropped 11% after Wells Fargo downgraded the stock to Market Perform from Outperform after shares rallied yesterday over 14% following a report that the company has held talks with TPG Capital about a possible deal. Wells says it leveraged buyout math suggests a takeout of the entire company is unlikely. Also lower was DreamWorks Animation (DWA), which fell 9% after announcing a new strategic plan that will see it cut its feature production from three films per year down to two and cut about 500 jobs. INDEXES: Near midday, the Dow was down 42.58, or 0.24%, to 17,771.40, the Nasdaq was up 9.68, or 0.2%, to 4,760.08, and the S&P 500 was down 3.40, or 0.16%, to 2,059.75.
10:07 EDTSNEHigh option volume stocks
High option volume stocks: CE TSM RYAM NOC SNE FXCM LBTYA TKMR LF STT
10:02 EDTDWAOn the Fly: Analyst Downgrade Summary
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10:02 EDTDWAOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmSurg (AMSG) upgraded to Overweight from Neutral at Piper Jaffray... Anglo American (AAUKY) upgraded to Neutral from Sell at Goldman... Autobytel (ABTL) upgraded to Buy from Hold at Ascendiant... Charles River Labs (CRL) upgraded to Outperform from Market Perform at William Blair... Chesapeake (CHK) upgraded to Outperform from Neutral at Credit Suisse... CubeSmart (CUBE) upgraded to Buy from Neutral at SunTrust... Cypress Semiconductor (CY) upgraded to Neutral from Underweight at JPMorgan... DreamWorks Animation (DWA) upgraded to Overweight from Neutral at Piper Jaffray... E-Trade (ETFC) upgraded at Credit Suisse... Kate Spade (KATE) upgraded to Buy from Neutral at Mizuho... LinkedIn (LNKD) upgraded to Strong Buy from Market Perform at Raymond James... Matthews (MATW) upgraded to Outperform from Neutral at Macquarie... Meridian Bioscience (VIVO) upgraded to Buy from Hold at Craig-Hallum... Michael Kors (KORS) upgraded to Buy from Neutral at Mizuho... NIC Inc. (EGOV) upgraded to Hold from Sell at Maxim... Natural Grocers (NGVC) upgraded to Overweight from Neutral at Piper Jaffray... Nucor (NUE) upgraded to Buy from Neutral at Goldman... ResMed (RMD) upgraded to Buy from Hold at Needham... Smith & Wesson (SWHC) upgraded to Buy from Neutral at Dougherty... Ternium (TX) upgraded to Neutral from Sell at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at BB&T... ZAGG (ZAGG) upgraded to Buy from Hold at Craig-Hallum... lululemon (LULU) upgraded to Overweight from Neutral at JPMorgan.
09:21 EDTDWAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Infinera (INFN), up 13.2%... E-Trade (ETFC), up 5.6%... Starbucks (SBUX), up 5%... ResMed (RMD), up 3.2%. ALSO HIGHER: IVUS (VVUS), up 6.2% after being initiated with an Outperform at RBC Capital... Vitae Pharmaceuticals (VTAE), up 12.3% after 3M share Secondary priced at $11.90... lululemon (LULU), up 3.5% after being upgraded to Overweight from Neutral at JPMorgan. DOWN AFTER EARNINGS: Kimberly Clark (KMB), down 4.6%... Bank of New York Mellon (BK), down 2.1%... Altera (ALTR), down 4.4%... Kansas City Southern (KSU), down 3.3%... McDonald's (MCD), down fractionally. ALSO LOWER: LeapFrog (LF), down 32.8% after reporting preliminary third quarter results and withdrawing fiscal 2015 guidance... Molycorp (MCP), down 10.7% after being downgraded to Neutral from Buy at DA Davidson... Dreamworks (DWA), down 12% after announcing that it will cut 500 jobs, reduce films released per year, and seeing a $55M charge for 'The Penguins of Madagascar' and 'Mr. Peabody and Sherman'... Otonomy (OTIC), down 1.8% after secondary increased to 2.55M shares, priced at $29.25.
06:41 EDTDWADreamWorks Animation downgraded to Underperform from Market Perform at Cowen
Note that Janney Capital downgraded and Piper Jaffray upgraded Dreamworks this morning following last night's restructuring announcement.
06:35 EDTDWADreamWorks Animation downgraded to Sell from Neutral at Janney Capital
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06:17 EDTSNESony to delay earnings report due to last year's cyberattack
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05:33 EDTDWADreamWorks Animation upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded DreamWorks Animation to Overweight citing the company's restructuring and its belief future write-downs are unlikely. Piper believes DreamWorks has "finally" gotten film production costs under control and raised its price target for shares to $26 from $22. Shares of the movie maker closed yesterday up 63c to $21.31.
January 22, 2015
16:26 EDTDWADreamWorks Animation sees $55M charge for Penguins, Mr. Peabody
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16:23 EDTDWADreamWorks Animation announces departure of COO Mark Zoradi
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16:23 EDTDWADreamWorks Animation COO Mark Zoradi leaving company
In connection with the 2015 Restructuring Plan, the company also announced that Lewis Coleman, the company’s Vice Chairman, and Mark Zoradi, the company’s COO, would be leaving the company. The company currently anticipates that Mr. Zoradi will leave the company during the quarter ending March 31, 2015 and Mr. Coleman will retire from the company on or about January 30, 2015. On January 19, 2015, Mr. Coleman resigned from the company’s Board of Directors effective immediately.
16:19 EDTDWADreamWorks Animation reduces films per year to two, cuts 500 jobs
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06:54 EDTSNESony sees mobile success in Middle East and Africa, WSJ says
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January 21, 2015
06:36 EDTSNESony's 'The Interview' nets $40M in online and TV sales, Re/code says
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06:35 EDTSNESony planning to reduce headcount in Japan by 1,500, Variety reports
According to media reports in Japan, Variety reports that Sony is planning to reduce its headcount in various divisions in Japan by about 1,500 by the end of FY14 through early retirement programs. The process, which began last August, involved Sony's corporate planning and finance departments, but has now been expanded to include corporate headquarters staff. Reference Link
January 20, 2015
18:38 EDTSNESony probed Indian operations for corruption, Bloomberg reports
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06:06 EDTDWADreamWorks planning to lay off 'substantial' number of staff, LA Times reports
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