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Stock Market & Financial Investment News

News Breaks
May 24, 2013
17:26 EDTNWSANews Corp. to take $1.2B-$1.4B charge in Q4 related to publishing segment
On May 24, News Corporation disclosed in a regulatory filing that it concluded that certain of its goodwill and intangible assets were potentially impaired and that it expects to record a pre-tax non-cash impairment charge in the range of $1.2B-$1.4B in Q4 related to its publishing segment. The company tests goodwill for impairment on an annual basis in Q4 and at other times if a significant event or change in circumstances indicates that it is more likely than not that the fair value of these assets has been reduced. During Q4, the Company adjusted its future outlook and related strategy principally with respect to the Australian publishing business and secondarily with respect to the U.S. publishing businesses which resulted in a reduction in expected future cash flows. As a result, the company determined that the fair value of these reporting units declined below their respective carrying values and expects to record an impairment charge in the quarter. Additionally, goodwill and intangible assets in the publishing segment continue to be at risk for future impairment.
News For NWSA From The Last 14 Days
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March 20, 2015
06:28 EDTNWSAReuters' news sites 'inaccessible' in China, Reuters reports
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March 19, 2015
05:24 EDTNWSANews Corp builds investment plan in APN News to 14.99% stake
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March 16, 2015
15:13 EDTNWSANews Corp. management to meet with Jefferies
Meeting to be held in Boston on March 20 hosted by Jefferies.
10:44 EDTNWSANetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.

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