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News Breaks
March 5, 2014
10:05 EDTSWHC, FMAO, GOLD, DST, FOXA, TW, VLY, P, CCBG, ERIC, TRMB, LAZ, CIROn The Fly: Analyst Upgrade Summary
21st Century Fox (FOXA) upgraded to Outperform from Market Perform at BMO Capital... CIRCOR (CIR) upgraded to Buy from Hold at KeyBanc... Capital City Bank (CCBG) upgraded to Outperform from Market Perform at Keefe Bruyette... DST Systems (DST) upgraded to Overweight from Equal Weight at Evercore... Lazard (LAZ) upgraded to Positive from Neutral at Susquehanna... Pandora (P) upgraded to Neutral from Sell at MKM Partners... Randgold Resources (GOLD) upgraded to Buy from Neutral at Nomura... Trimble Navigation (TRMB) upgraded to Overweight from Neutral at JPMorgan... Valley National (VLY) upgraded to Market Perform from Underperform at Keefe Bruyette... Farmers & Merchants (FMAO) upgraded to Outperform from Neutral at Boenning... Pandora (P) upgraded at MKM Partners... Towers Watson (TW) upgraded to Conviction Buy from Buy at Goldman... Ericsson (ERIC) upgraded to Outperform from Sector Perform at RBC Capital... Smith & Wesson (SWHC) upgraded to Outperform from Market Perform at Cowen.
News For FOXA;CIR;CCBG;DST;LAZ;P;GOLD;TRMB;VLY;FMAO;ERIC;TW;SWHC From The Last 14 Days
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August 27, 2015
10:31 EDTPPandora calls active
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10:23 EDTPRumor: Pandora moves up on renewed takeover chatter
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06:40 EDTFOXANielsen to start tracking for online streaming shows, WSJ reports
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05:37 EDTERICEricsson renews playout services contract with ITV
Ericsson announced that it has renewed its playout services contract with ITV, the UK's leading commercial television network. The contract, which has been extended until 2024, will see Ericsson continue to provide playout services for ITV's portfolio of channels including ITV, ITV2, ITV3, ITV4, ITV HD and CITV and their associated regional variants as well as ITV's newest TV channels, ITV Encore and ITVBe. As part of the contract, Ericsson has designed, built and integrated a state-of-the-art scalable simulcast platform for ITV. The modular infrastructure will allow ITV the flexibility to deliver new services and launch existing services onto new platforms, easily and with a high level of resilience.
August 26, 2015
16:26 EDTLAZOn The Fly: Top stock stories for Wednesday
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13:40 EDTLAZPeabody hires Lazard to help with debt restructuring, Bloomberg reports
Peabody Energy (BTU) has hired Lazard (LAZ) to advise it on how to restructure its $6.3B of debt, Bloomberg reports, citing two people with knowledge of the matter. Peabody is having discussions with creditors over ways to reduce its debt load, including swapping obligations for new shares or convertible notes, the report says. Reference Link
08:30 EDTDSTDST Systems management to meet with Avondale
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07:57 EDTSWHCSmith & Wesson volatility elevated into Q1 and outlook
Smith & Wesson September call option implied volatility is at 57, October is at 46, January is at 49; compared to its 52-week range of 26 to 61, suggesting large near term price movement into the expected release of Q1 results on August 27.
August 25, 2015
19:16 EDTFOXATV service Hulu to feature programmatic ads powered by Facebook, Oracle
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10:57 EDTFOXAHilliard Lyons upgrades Disney after recent pullback
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August 24, 2015
09:45 EDTFOXAOn The Fly: Analyst Downgrade Summary
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07:34 EDTFOXA21st Century Fox downgraded to Hold from Buy at Needham
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07:02 EDTGOLDRandgold upgraded to Outperform from Sector Perform at RBC Capital
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August 23, 2015
16:22 EDTFOXA'Straight Outta Compton' finds little contention for No. 1 box office spot
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August 21, 2015
13:11 EDTFOXAFly Watch: 'Straight Outta Compton' eyes second weekend at top spot
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08:53 EDTFOXAAfter rough week, Disney shares expected to recover
With fears of cord cutting and declining advertising rates consuming the minds of investors and analysts this week, Disney (DIS) shares have dropped 7% over the past five trading days. Stepping out of the growing pack of bearish analysts is FBR Capital's Barton Crockett. ROUGH WEEK: On Tuesday, Wells Fargo analyst Marci Ryvicker downgraded her rating on Disney (DIS), CBS (CBS), 21st Century Fox (FOXA) to Market Perform from Outperform. None of the large media companies reported that their revenue from cable stations or broadcast networks increased in the most recent quarter, Ryvicker told investors. TV distributors have more favorable characteristics than the media companies, she argued. Then on Thursday, Bernstein analyst Todd Juenger downgraded Disney (DIS), along with Time Warner (TWX), to Market Perform from Outperform. The move by viewers away from ad-supported platforms to non-ad-supported services like Netflix (NFLX) will bring a "prolonged structural decline" to the U.S. television industry, Juenger contended. PATH TO RECOVERY: Sentiment is driving Disney and the media stocks lower, FBR Capital's Barton Crockett tells investors this morning in a research note titled "Performance Is the Best Defense: How Disney, Near Term, Can Separate from Peers." Cord cutting and advertising fears are taking down the valuation multiples in the media sector, but consensus earnings estimates are little changed, the analyst writes. Cord cutting is the term used to describe the dropping of cable or satellite TV in favor of an online streaming service. Crockett sees a number of "performance positives near term" that can help shares of Disney recover. The owner of ESPN can separate itself from peers with solid second half of 2015 advertising trends when football returns, he believes. Disney can also benefit from the retail push for Star Wars movie merchandise, starting with a midnight door-buster national product launch on September 4, the analyst writes. PETER OUT: Crockett expects cord-cutting fears to "peter out." Cable bundles broadband with TV, and most households have a sports fan, he points out. While Netflix takes audiences from non-sports content, sports will save the bundle subscription model that benefits Disney's ESPN unit, Crockett thinks. He has an Outperform rating on Disney with a $124 price target. The stock closed yesterday down $6.44, or 6%, to $100.01. Over the past three months, Disney is down over 9%.
August 20, 2015
09:17 EDTFOXADisney hit with another downgrade on TV concerns
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06:36 EDTFOXABernstein cuts Disney, Time Warner with TV entering 'structural decline'
Bernstein analyst Todd Juenger downgraded his rating on both Disney (DIS) and Time Warner (TWX) saying the U.S. television industry is entering a period of "prolonged structural decline." With viewers moving away from ad-supported platforms to non-ad-supported, media companies with the least exposure to U.S. advertising represent the most favorable investments, Juenger tells investors in a 48-page research note on the Media sector. The analyst moved both companies to a Market Perform rating from Outperform, and lowered his price target for Disney to $114 from $125 and for Time Warner to $90 from $101. He called the downgrade of Time Warner a "very close call" as his new price target still represents 15% upside from current levels. Share performance in the entire Media sector will be challenged until the content owners take steps to "reclaim on-demand viewing" from streaming services like Netflix (NFLX) and use it to protect affiliate fees, Juenger argues. His Outperform-rated names are Nielsen (NLSN) and 21st Century Fox (FOXA). Along with Time Warner and Disney, the analyst has Market Perform ratings on AMC Networks (AMCX), CBS (CBS), Scripps Networks (SNI) and Discovery (DISCA). Juenger has an Underperform rating on Viacom (VIAB). Wells Fargo on Tuesday also downgraded Disney to Market Perform. Piper Jaffray this morning told investors that the recent pullback in shares of AMC Networks brings a "great" entry point into the name.
August 19, 2015
13:08 EDTLAZCSN to pick either Rotschild or Lazard as advisor for asset sales, Reuters says
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09:05 EDTPPandora price target raised to $25 from $20 at Rosenblatt
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