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Stock Market & Financial Investment News

News Breaks
August 7, 2014
17:06 EDTSAAS, COUP, TWX, THOR, FOXA, SSYSOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory and appeared ready to build on yesterday’s gains. There was little to point to as a catalyst, but the early move was likely helped by better than expected initial jobless claims data and an agreement to an extended ceasefire by between Gaza and Israel. The market saw its highs shortly after the open and then began to drift lower. By noon each of the major equity indexes had crossed into negative ground and by mid-afternoon the sellers were in control and renewed the selling trend that has been prevalent in recent sessions. 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. Consumer credit grew by $17.3B in June, versus expectations for it to have increased $18.3B for the month. In Europe, both the European Central Bank and the Bank of England decided to keep their main interest rates unchanged. COMPANY NEWS: 21st Century Fox (FOXA) advanced $1.63, or 5.04%, to $33.96 after the company reported higher than expected fourth quarter earnings and the stock was upgraded to Market Perform from Underperform at Cowen. Chairman and CEO Rupert Murdoch spoke on the company's earnings conference call, which is a bit outside of the recent norm, and said the company's decision to no longer pursue an acquisition of Time Warner (TWX) is "resolute." Chief Operating Officer Chase Carey echoed that the company is "done" as far as Time Warner and added that 21st Century Fox says will not pursue any other content company. MAJOR MOVERS: Among the notable gainers was inContact (SAAS), which gained $1.34, or 17.45%, to $9.02 and was upgraded at Oppenheimer and Benchmark Co. after reporting better than expected Q2 results. Also higher was Stratasys (SSYS), which rose $14.78, or 14.94%, to $113.69 after the company reported stronger than expected second quarter results and raised its guidance. Among the noteworthy losers was Thoratec (THOR), which fell $9.83, or 30.18%, to $22.74 and was downgraded by at least four Street firms following the company's Q2 miss and lowered guidance. Also lower after its earnings report were shares of Coupons.com (COUP), which fell $4.58, or 23.5%, to $14.91. INDEXES: The Dow fell 75.07, or 0.46%, to 16,368.27, the Nasdaq dropped 20.08, or 0.46%, to 4,334.97, and the S&P 500 slipped 10.67, or 0.56%, to 1,909.57.
News For FOXA;TWX;SSYS;THOR;COUP;SAAS From The Last 14 Days
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August 25, 2015
19:16 EDTFOXATV service Hulu to feature programmatic ads powered by Facebook, Oracle
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10:57 EDTFOXA, TWXHilliard Lyons upgrades Disney after recent pullback
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06:07 EDTTWXWarner Bros. in talks with China Media Capital to form film JV, WSJ reports
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August 24, 2015
09:45 EDTFOXA, THOROn The Fly: Analyst Downgrade Summary
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08:29 EDTTHORWilliam Blair to hold a field trip
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07:34 EDTFOXA21st Century Fox downgraded to Hold from Buy at Needham
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06:39 EDTTHORThoratec downgraded to Market Perform from Outperform at Raymond James
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06:19 EDTTHORThoratec downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Thoratec (THOR) to Hold from Buy ahead of the closing of its merger transaction with St. Jude Medical (STJ), which is expected to close by year-end.
August 23, 2015
16:22 EDTFOXA, TWX'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 EDTFOXA, TWXAfter 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
16:48 EDTTWXOn The Fly: Top stock stories for Thursday
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13:26 EDTTWXOn The Fly: Top stock stories at midday
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13:11 EDTSAASinContact management to meet with Craig-Hallum
Meeting to be held in Toronto on August 26 hosted by Craig-Hallum.
10:00 EDTTWXOn The Fly: Analyst Downgrade Summary
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09:17 EDTTWX, FOXADisney hit with another downgrade on TV concerns
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06:36 EDTTWX, FOXABernstein 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.
06:24 EDTTWXTime Warner downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Todd Juenger downgraded Time Warner (TWX) to Market Perform 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. He cut his price target for Time Warner to $90 from $101 and calls the downgrade a " very close call" with his new price target representing 15% upside from current levels. The analyst also downgraded shares of Disney (DIS) to Market Perform.
06:22 EDTTWXDisney downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Todd Juenger downgraded Disney (DIS) to Market Perform 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. He cut his price target for Disney shares to $114 from $125. The analyst also downgraded shares of Time Warner (TWX) to Market Perform. Shares of Disney closed yesterday down 45c to $106.49. Wells Fargo on Tuesday also downgraded the stock to Market Perform.
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