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Stock Market & Financial Investment News

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May 15, 2014
12:48 EDTFOXA, APO21st Century Fox confirms intent to form JV with funds managed by Apollo Global
21st Century Fox (FOXA) confirms its intent to form a joint venture with funds managed by affiliates of Apollo Global Management (APO) comprised of Endemol, Shine Group and CORE Media Group. The parties have entered into a preliminary agreement, subject to a number of conditions, which calls for 21st Century Fox and funds managed by affiliates of Apollo to jointly own and manage the new joint venture. There can be no assurance that the proposed transaction will be completed.
News For FOXA;APO From The Last 14 Days
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July 16, 2014
07:25 EDTFOXA21st Century Fox volatility expected to move on Time Warner rejecting $80B offer
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07:23 EDTFOXATime Warner volatility expected to move,rejects $80B offer from 21st Century Fox
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07:12 EDTFOXATime Warner rejected $80B offer from 21st Century Fox, CNBC reports
Time Warner (TWX) has formally rejected an $80B takeover offer from Rupert Murdoch's 21st Century Fox (FOXA), CNBC's Andrew Ross Sorkin reports, citing sources. The deal valued Time Warner at $85 per share and included 60% non-voting stock and 40% cash, Sorkin added. Fox would raise $24B in financing for the deal, he noted. Fox also planned on spinning off its CNN unit in an attempt to appease regulators, the reporter said. Rupert Murdoch remains "determined" to buy Time Warner, Sorkin noted, believing a combination would generate at least $1B in synergies. Time Warner has hired Citigroup and others following receipt of 21st Century Fox's offer, Sorkin added. Shares of Time Warner rallied 13% to $79.97 in pre-open trading following Sorkin's report. The stock closed yesterday down 67c to $71.01.
07:06 EDTFOXATime Warner rejected $80B offer from 21st Century Fox, CNBC reports
07:04 EDTFOXARupert Murdoch 'determined' to own Time Warner, CNBC reports
07:04 EDTFOXATime Warner hired Citigroup, others after 21st Century Fox offer, CNBC says
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07:02 EDTFOXATime Warner rejected $85/share offer from 21st Century Fox, CNBC says
July 14, 2014
16:57 EDTFOXACourt of Appeals reaffirms rejection of Fox's claims against DISH's Hopper
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16:44 EDTFOXAFox Broadcasting loses bid to halt 'Dish Anywhere,' Hollywood Reporter says
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11:14 EDTFOXA21st Century Fox unites FBC, and Fox Television in new unit
21st Century Fox announced that Dana Walden and Gary Newman will oversee a new business unit within Fox Networks Group, Fox Television Group, which will combine Fox Broadcasting Company, FBC, and 20th Century Fox Television, TCFTV. The announcement was made by Peter Rice, Chairman of Fox Networks Group, to whom both Mr. Newman and Ms. Walden will now report. Their respective appointments are effective later this month. In their new roles as Chairmen and CEOs of Fox Television Group, Mr. Newman and Ms. Walden will be responsible for all facets of the FOX broadcast network, including programming, digital, marketing and other functions. The new roles also call for the duo to continue oversight of 20th Century Fox Television, which they have led for the past 15 years. 20th Century Fox Television is comprised of the parent studio, cable production arms Fox 21 and Fox Television Studios, the licensing division Fox Consumer Products and the syndication division Twentieth Television. While both companies will be housed within Fox Television Group, FBC and TCFTV will continue to operate as independent entities, but will share financial and creative goals, and be led jointly by Ms. Walden and Mr. Newman.
08:05 EDTFOXABona Film chairman to acquire 21st Century Fox stake in Bona Film for $71.4M
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06:42 EDTFOXA'Dawn of the Planet of the Apes' leads box office with $73M opening, WSJ says
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July 13, 2014
15:41 EDTFOXA21st Century Fox's 'Apes' sequel leads box office with $73M, WSJ says
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11:23 EDTFOXAHulu and South Park announce exclusive multi-year content licensing deal
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July 11, 2014
08:19 EDTAPOApollo Global valuation attractive after pullback, says BMO Capital
After meeting with Apollo Global's CFO, BMO Capital is upbeat about the company's outlook. The firm expects the company's credit business to be a growth driver for years to come, although its private equity business is expected to show very slow growth, according to BMO Capital. The firm raised its price target on the shares to $36 from $35 and keeps an Outperform rating,
July 10, 2014
11:21 EDTAPOInternational Game Technology rises as GTECH reportedly prepares bid
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07:14 EDTFOXAAereo 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 EDTFOXAOn The Fly: Analyst Initiation Summary
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10:02 EDTAPOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
06:16 EDTAPOApollo Global downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Apollo Global to Neutral citing higher uncertainty around rising rates. Citi lowered its price target for shares to $28 from $32.
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