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News Breaks
April 4, 2014
08:58 EDTMSGMadison Square Garden in deal to sell Fuse for over $200M, Bloomberg says
Madison Square Garden has reached a deal, which may be announced as soon as today, to sell Fuse TV to NuvoTV for more than $200M in cash and equity in the Latino-focused channel backed by Jennifer Lopez, according to Bloomberg, citing people with knowledge of the matter. NuvoTV's bid beat out one from Sean “Diddy” Combs' Revolt TV network, which is said to have offered about $200M, the report noted. Reference Link
News For MSG From The Last 14 Days
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October 31, 2014
10:45 EDTMSGMSG says will take 'measured' and 'thoughtful' approach to spin-off exploration
Says likely won't buy another sports franchise.
10:20 EDTMSGMSG says has no timetable for completion of spin-off exploration
Says split would be tax-free spin-off. Says optimistic about sports division. Says will start share buybacks "as soon as possible." Comments made on the Q3 earnings conference call. MSG shares are up 1.01% to $74.83 in morning trading.
07:36 EDTMSGMadison Square Garden reports Q1 EPS $1.38, may not compare to consensus 32c
Reports Q1 revenue $241.7M, consensus $224.22M. Adjusted operating cash flow of $76.2M increased 16%, as compared to the prior year quarter, primarily due to improved AOCF results in the company's MSG Entertainment and MSG Sports segments, partially offset by an increase in unallocated corporate expenses. Operating income of $197.4M increased by $157.5M, as compared to the prior year quarter, primarily due to the $162.4M pre-tax gain on the sale of Fuse, partially offset by other net operating income decreases.
October 30, 2014
15:41 EDTMSGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Exxon Mobil (XOM), consensus $1.73; Chevron (CVX), consensus $2.56; AbbVie (ABBV), consensus 77c; NextEra Energy (NEE), consensus $1.55; Dominion Resources (D), consensus 96c; Aon plc (AON), consensus $1.12; Weyerhaeuser (WY), consensus 30c; Clorox (CLX), consensus $1.03; Rockwell Collins (COL), consensus $1.27; Newell Rubbermaid (NWL), consensus 55c; Pinnacle West (PNW), consensus $2.15; Legg Mason (LM), consensus 0c; TECO Energy (TE), consensus 32c; Oshkosh (OSK), consensus 82c; Hilton Worldwide (HLT), consensus 17c; Genesee & Wyoming (GWR), consensus $1.17; Spirit AeroSystems (SPR), consensus 74c; Madison Square Garden (MSG), consensus 32c; Magellan Midstream (MMP), consensus 66c.
October 28, 2014
12:57 EDTMSGOn The Fly: Midday Wrap
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10:12 EDTMSGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Buffalo Wild Wings (BWLD) upgraded to Outperform at RW Baird... CPFL Energia (CPL) upgraded to Buy from Neutral at UBS... Core Laboratories (CLB) upgraded to Overweight from Equal Weight at Morgan Stanley... Dril-Quip (DRQ) upgraded at Morgan Stanley... DryShips (DRYS) upgraded to Outperform from Underperform at Imperial Capital... FireEye (FEYE) upgraded to Positive from Mixed at OTR Global... GOL Linhas (GOL) upgraded to Outperform from Market Perform at Raymond James... Madison Square Garden (MSG) upgraded to Buy from Hold at ISI Group... Nobel Biocare (NBHGY) upgraded to Neutral from Underweight at JPMorgan... STMicroelectronics (STM) upgraded to Neutral from Sell at Citigroup... Trinity Industries (TRN) upgraded to Positive from Neutral at Susquehanna... Twitter (TWTR) upgraded to Hold from Sell at Pivotal Research... Wal-Mart de Mexico (WMMVY) upgraded to Overweight from Equal Weight at Barclays... Wright Medical (WMGI) upgraded at RBC Capital... XL Group (XL) upgraded to Hold from Sell at Deutsche Bank.
09:20 EDTMSGOn The Fly: Pre-market Movers
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07:17 EDTMSGMadison Square Garden upgraded to Buy from Hold at Maxim
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06:11 EDTMSGMadison Square Garden upgraded to Buy from Hold at ISI Group
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October 27, 2014
19:28 EDTMSGMadison Square Garden up 4.2% to $70.00 following proposed company split
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19:27 EDTMSGMadison Square Garden announces new director nominations including Nelson Peltz
Madison Square Garden's board announced its director nominations for this year's annual meeting, including two new independent directors for election by the company's Class A shareholders: Nelson Peltz and Scott Sperling. Peltz and Sperling will replace Alan Schwartz and Vincent Tese, who have been nominated by the board for election as directors by the company's Class B shareholders. As previously announced, Richard Parsons was re-appointed as a director on September 29 and has been nominated for election by the holders of the company's Class A common stock.
19:25 EDTMSGMadison Square Garden board authorizes $500M stock buyback program
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19:23 EDTMSGMadison Square Garden board unanimously approves plan to explore spin-off
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19:04 EDTMSGMadison Square Garden said to add Nelson Peltz to board, Bloomberg says
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19:03 EDTMSGMadison Square Garden exploring plan to split into two companies, Bloomberg says

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