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Stock Market & Financial Investment News

News Breaks
February 7, 2013
07:08 EDTSNIScripps Networks sees 2013 revenue up 7%-9%
Sees 2013 tax rate 28%-30%.
News For SNI From The Last 14 Days
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February 8, 2016
11:01 EDTSNITV networks seen beating expectations thanks to strong ad market
The outlook for television networks is positive and investors should overweight the sector, research firm Pacific Crest wrote in a note to investors today. WHAT'S NEW: Pacific Crest analyst Andy Hargreaves recommended that investors own the shares of TV network owners 21st Century Fox (FOXA), Time Warner (TWX) and AMC Networks (AMCX). The companies' results should beat expectations, driven by a strong U.S. advertising market and stable pay TV subscriptions, he forecast. Moreover, given their "low elasticity, limited exposure to emerging markets and credit-fueled funding, and historically low valuations," the networks look "highly defensible," the analyst stated. Based on viewership data, 21st Century Fox, AMC and Scripps Networks (SNI) are best positioned to increase their ad revenue going forward, Hargreaves believes. Meanwhile, Fox and Scripps should benefit from strong viewership trends for sporting events, contended the analyst, who kept Overweight ratings on 21st Century Fox, Time Warner and AMC Networks, but maintained a Sector Weight rating on Scripps. WHAT'S NOTABLE: Hargreaves also kept a Sector Weight rating on CBS (CBS), but he recommended owning the stock in the near-term. The company's ad revenue should rise this year, driven by the Super Bowl and political spending, and its fourth quarter results could beat expectations on the back of strong ad revenue and content sales, the analyst predicted. Furthermore, CBS's content is well-positioned to be part of any significant bundle, and the stock's risk/reward ratio is positive, he wrote. PRICE ACTION: In late morning trading, Class A Fox shares slid 3%, AMC gave back 4.4%, Time Warner retreated 2.7%, and CBS and Scripps each fell about 4%.
10:06 EDTSNIScripps Networks announces retirement of Joseph NeCastro
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February 2, 2016
07:22 EDTSNIScripps, TWC, reach multiyear retrans agreement, Broadcasting & Cable says
Scripps (SNI) and Time Warner Cable (TWC) have quietly reached a multi-year retransmission consent deal for stations representing more than 3M households in 14 markets, Broadcasting & Cable reports, citing a broadcast source familiar with the deal. The agreement also includes certain Bright House cable systems, the report says. Affected markets include Bakersfield, Cleveland, Cincinnati, Denver, Detroit, Green Bay, Indianapolis, Kansas City, Nashville, Omaha, Milwaukee, San Diego and Tampa, the report says. Reference Link

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