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Stock Market & Financial Investment News

News Breaks
August 7, 2014
12:14 EDTHAR, XONE, PCLN, THOR, DDD, CTRP, SNI, MTLS, SSYS, FOXAOn The Fly: Midday Wrap
Stocks on Wall Street began the session higher, thanks in part to better than expected initial jobless claims data and an agreement to extend the ceasefire between Israel and Gaza. The averages saw their highs a short time after the open, but then began to drift lower. By mid-morning the Dow had crossed into negative ground and the S&P and Nasdaq soon followed, leaving the major indexes all in the red, but not by much, near noon. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 14K to 289K in the week ended August 2, versus expectations for 300K new claims. A report on consumer credit growth in June is expected at 3:00 pm ET. COMPANY NEWS: Shares of several 3D printer makers climbed after one of the companies in the sector, Stratasys (SSYS), reported stronger than expected second quarter results and raised its guidance. Near noon, Stratsys surged 19%, while 3D Systems rose 3%, Materialise (MTLS) advanced 6% and ExOne (XONE) gained more than 7%. MAJOR MOVERS: Among the notable gainers was Chinese online travel agency Ctrip.com (CTRP), which gained 10% after the company expanded its partnership with Priceline (PCLN) and received a $500M investment from the U.S. online travel giant. Also higher was 21st Century Fox (FOXA), which rose 6.5% after the company reported higher than expected fourth quarter earnings and the stock was upgraded to Market Perform from Underperform at Cowen. Among the noteworthy losers was Thoratec (THOR), which plunged 29% and was downgraded at Goldman, Credit Suisse and BTIG after reporting lower than expected second quarter revenues and lowering its FY14 profit guidance. Also lower following their earnings reports were Harman (HAR), which fell over 4%, and Scripps Networks (SNI), which dropped nearly 5%. INDEXES: Near midday, the Dow was down 37.98, or 0.23%, to 16,405.36, the Nasdaq was down 2.92, or 0.07%, to 4,352.13, and the S&P 500 was down 4.35, or 0.23%, to 1,915.89.
News For FOXA;CTRP;PCLN;SSYS;DDD;XONE;MTLS;THOR;HAR;SNI From The Last 14 Days
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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%.
08:50 EDTTHORThoratec announces end of 'go shop' period in merger agreement with St. Jude
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August 20, 2015
10:36 EDTSNIScripps Networks names president Burton Jablin as COO
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09:17 EDTSNI, FOXADisney hit with another downgrade on TV concerns
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07:20 EDTCTRPCitigroup to hold a conference
Hong Kong / China Corporate Day is being held in Hong Kong on August 20.
06:36 EDTFOXA, SNIBernstein 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 18, 2015
16:07 EDTXONEExOne to open new Production Service Center in Sweden
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10:17 EDTFOXADisney downgraded as Wells moves away from content providers
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10:07 EDTXONEHigh option volume stocks
High option volume stocks: CCOI XONE XDE OMER JMBA URBN W SCCO DKS ESPR FEYE W
10:00 EDTFOXAOn The Fly: Analyst Downgrade Summary
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07:56 EDTFOXA21st Century Fox downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded 21st Century Fox (FOXA) to Market Perform with a $31-$33 price target range saying value is shifting from content to distribution. Wells also downgraded Disney (DIS) and CBS (CBS) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
07:13 EDTFOXA21st Century Fox downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded 21st Century Fox (FOXA) to Market Perform with a $31-$33 price target range saying value is shifting from content to distribution. Wells also downgraded Disney (DIS) and CBS (CBS) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
07:12 EDTFOXADisney downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Disney (DIS) to Market Perform with a $112-$119 price target range saying value is shifting from content to distribution. Wells also downgraded CBS (CBS) and 21st Century Fox (FOXA) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
August 16, 2015
16:59 EDTFOXA'Straight Outta Compton' sidesteps rivals in $56.1M weekend debut
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August 14, 2015
17:29 EDTFOXAGreenlight Capital gives quarterly update on stakes
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16:37 EDTPCLNAppaloosa gives quarterly update on stakes, takes stake in Apple
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13:03 EDTFOXA, PCLNOmega Advisors gives quarterly update on stakes, discloses stake in Google
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11:24 EDTFOXAFly Watch: 'Straight Outta Compton' expected to lead weekend box office
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05:55 EDTCTRPCtrip.com pullback a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Michael Olson views the recent pullback in shares of Ctrip.com as a buying opportunity and reiterates an Overweight rating on the name with a $91 price target. Shares have sold off 9% in the face of the 3% devaluation of the Chinese RMB, Olson tells investors in a research note. Olson believes the devaluation is likely to have a limited impact on Ctrip.com's revenue and thinks the selloff in shares is an overreaction.
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