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News Breaks
April 21, 2014
07:26 EDTP, SNE, VIVHYPandora sued in NY over older songs, NY Times reports
Sony (SNE), Universal Music (VIVHY) and Warner Music, along with an independent label, filed a lawsuit in New York that accuses Pandora (P) of violating the state’s common-law copyright protections by using recordings of songs made before Feb. 15, 1972, without permission, reported The New York Times on Thursday. Reference Link
News For P;SNE;VIVHY From The Last 14 Days
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September 16, 2014
09:45 EDTPRumor: Pandora moves up on renewed activist speculation
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07:27 EDTPBofA/Merrill to hold a conference
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September 15, 2014
11:45 EDTSNEMicrosoft slips after confirming purchase of Minecraft maker
Shares of software giant Microsoft (MSFT) are lower after the company reached an agreement to acquire Mojang, the developer for the "Minecraft" video game franchise. WHAT'S NEW: Microsoft announced this morning that it agreed to acquire Mojang for $2.5B. The company expects the acquisition to be break-even in FY15 on a GAAP basis. The acquisition is expected to close in late 2014. Microsoft plans to continue to make "Minecraft" available across all the platforms on which it is available today, which include its own Xbox platform, as well as on PCs, iOS, Android, and Sony's (SNE) PlayStation. "Minecraft" has had more than 100M downloads on PC alone since its launch in 2009, the company stated. WHAT'S NOTABLE: The announcement confirms a Wall Street Journal report from September 9 that said Microsoft was nearing a deal to buy the game maker for more than $2B. The report noted a Mojang acquisition would be the first multi-billion dollar acquisition by CEO Satya Nadella and it may be an unexpected push after Nadella had signaled a focus on its enterprise business rather than its consumer ones. Ahead of the acquisition, Reuters reported on September 13 that the impending purchase is aimed at pulling users onto Microsoft's Windows Phone platform. In the report, Tap Lab CEO Dave Bisceglia said, "If Microsoft could on Windows phones give players a unique and compelling experience that you can't get on the other platforms, that could be a driver to sell devices to existing Minecraft fans.” ANALYST OPINION: The Reuters report also cited Nomura analyst Rick Sherlund, who said "We don't view this acquisition as a signal of Microsoft's intent to double down on Xbox but consider it an attempt to better address mobile on a cross-platform basis." Also commenting on Microsoft this morning was Morgan Stanley, which expects the company to have a durable 12%-14% total return profile from full-year 2015 to full-year 2017. The firm increased its price target on the stock to $51 from $43, but with Microsoft trading at a 13% premium to the S&P, Morgan Stanley said investors should wait for better entry points before getting more aggressive in buying the shares. The firm added that Microsoft's solid enterprise business, stabilizing consumer business, and a shift towards more attractive cloud assets puts its on a more solid footing than it has ever seen, pointing towards sustained EPS growth. PRICE ACTION : In late-morning trading, Microsoft fell $0.42, or 0.9%, to $46.28.
07:29 EDTSNESony's 'No Good Deed' tops weekend box office, WSJ reports
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07:20 EDTPPandora ad trends improving in back half, says JPMorgan
JPMorgan believes Pandora's advertising is strengthening in the back half of 2014 with accelerating growth in ad revenue. The firm reiterates an Overweight rating on the stock with a $42 price target.
06:25 EDTSNEWearable orders appear optimistic in 2014, DigiTimes reports
Supply chains are seeing optimistic demand throughout 2014 for wearables, reports DigiTimes. Makers are seeing orders for flexible AMOLED panels and component orders for 1.56-inch panels. Reference Link
September 12, 2014
08:05 EDTSNERockstar Games says Grand Theft Auto V to launch Nov. 18 for PS4, Xbox One
Rockstar Games (TTWO) announced that Grand Theft Auto V will arrive on the PlayStation 4 (SNE) computer entertainment system and Xbox One, the all-in-one games and entertainment system from Microsoft (MSFT) on November 18, with the PC version to follow on January 27, 2015.
07:58 EDTPPandora outlook has improved, says Oppenheimer
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07:19 EDTSNESony confirms PS4 tops U.S. console sales for eighth straight month
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07:19 EDTSNEConsoles lead video game sales up 8% in August, Bloomberg reports
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06:30 EDTSNEGlobal tablet shipments to increase 9.1% in Q3, DigiTimes Research reports
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05:41 EDTSNESony collaborates with Teradek
Teradek announced collaboration with Sony to integrate Sony’s wireless camera adapter, the CBK-WA100 and CBK-WA101, with Teradek’s T-Rax and Slice H.264 decoders. The integration offers broadcasters a powerful point-to-point MPEG-2 solution for HD live video transmission from the field to TV stations or ENG trucks.
September 11, 2014
15:45 EDTPPandora management getting savvier on content costs, says Maxim
Maxim said Pandora's (P) new multi-year rights agreement with BMG supports its view that management is getting more savvy on managing content costs. The firm also thinks the tone of Apple (AAPL) at its launch event suggests its service has yet to gain traction as a competitor to Pandora and that comments from Sirius XM's (SIRI) CFO indicate Pandora is gaining traction in car integration. The firm maintains it Buy rating and $35 price target on Pandora.
09:01 EDTPPandora strikes U.S. licensing deal with BMG
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September 10, 2014
12:46 EDTSNESony Entertainment CEO says division spin-off 'not happening,' NY Post reports
The CEO of Sony's entertainment division, Michael Lynton, said that Sony is not entertaining a sale, spin-off, or joint venture of its entertainment business, New York Post reports, citing an overview of the business from Lynton during Golgman Sachs' Communacopia conference. Lynton also said that the entertainment division's music business has a very bright future, and the company "really wants the subscription model to thrive." Lynton also said that network TV is a promising business if producers know the landscape of the international market, New York Post added. Reference Link
10:01 EDTSNEViacom and Sony reach internet distribution agreement
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September 9, 2014
11:34 EDTVIVHYVivendi considers stake in Mediaset TV unit, Bloomberg reports
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11:22 EDTVIVHYVivendi considers stake in Mediaset TV unit, Bloomberg reports
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September 8, 2014
10:06 EDTVIVHYOn The Fly: Analyst Downgrade Summary
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08:12 EDTVIVHYVivendi downgraded to Market Perform from Outperform at Raymond James
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