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Stock Market & Financial Investment News

News Breaks
April 9, 2014
10:14 EDTSBGI, GTN, NXSTLocal TV station owners climb following Wells Fargo upgrades
Share of several companies that own local TV stations are climbing after Wells Fargo upgraded a number of names in the sector in a note to investors earlier today. WHAT'S NEW: After speaking with FCC representatives, Wells Fargo, which had previously been concerned that the agency could torpedo sharing deals, now does not expect the agency to veto sharing deals among TV station owners. Sharing deals refer to the sharing of facilities, employees, ad sales, and programming costs by multiple stations. The FCC's Media Bureau had expressed concern that such deals could prevent station owners from having sufficient incentive to operate stations effectively, trade publication Multichannel News reported last month. Wells had also been concerned that the FCC would look to cancel deals involving the buying and selling of TV stations. However, the firm is no longer worried about this issue following its FCC meetings. Additionally, Wells believes that the shares of TV broadcasters it covers are undervalued. The firm upgraded Sinclair Broadcast (SBGI), Gray Television (GTN), and Nexstar (NXST) to Outperform from Market Perform. Wells increased its price target ranges on Sinclair to $32-$34 from $25-$27, on Gray Television to $13-$15 from $10-$12, and on Nexstar to $50-$52 from $36-$40. PRICE ACTION: In early trading, Nexstar surged 7.8% to $40.24, Gray Television jumped 14% to $11.30, and Sinclair rose 5.4% to $28.85.
News For NXST;GTN;SBGI From The Last 14 Days
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March 26, 2015
10:29 EDTSBGISinclair Broadcast launches Sinclair Digital Ventures
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March 25, 2015
19:38 EDTGTNGray Television 12M share Secondary priced at $13.00
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March 24, 2015
14:45 EDTGTNGray Television management to meet with Barrington
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March 23, 2015
12:57 EDTGTNGray Television management to meet with Sidoti
Meetings to be held in Ohio on March 25 and in Chicago on March 26 hosted by Sidoti.
06:03 EDTGTNGray Television files to sell 12M shares of common stock
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