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Stock Market & Financial Investment News

News Breaks
December 18, 2012
19:30 EDTT, CMCSAAT&T gets FCC approval to purchase Comcast wireless licenses
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News For T;CMCSA From The Last 14 Days
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October 22, 2014
18:34 EDTTOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 13.1% after reporting third quarter results and increasing share repurchase authorization to $250M... Infinera (INFN), up 9.8%... Tractor Supply (TSCO), up 11.8%... Acacia Research (ACTG), up 7.7%... Marketo (MKTO), up 4.5%... O'Reilly Automotive (ORLY), up 3.9%... Fortinet (FTNT), up 1.5%... Mellanox (MLNX), up 2.9%... ServiceNow (NOW), up just under 1%. ALSO HIGHER: CarMax (KMX), up 1% after announcing a $2B increase to its share repurchase program. DOWN AFTER EARNINGS: Air Methods (AIRM), down 19.8% following preliminary third quarter results... Yelp (YELP), down 13.6%... Core Laboratories (CLB), down 7.9%... Varian Medical (VAR), down 4.9% after reporting fourth quarter results... Open Text (OTEX), down 3.9%... Citrix (CTXS), down 5.7%... Cheesecake Factory (CAKE), down 4.5%... Allied World (AWH), down 4.7%... Lam Research (LRCX), down 3.3%... Skechers (SKX), down just under 1% after reporting third quarter results above analyst estimates... AT&T (T), down 1.5%. ALSO LOWER: DIRECTV (DTV), down just under 1% following AT&T third quarter results... Alcobra (ADHD), down 16% following results of MDX study... WidePoint (WYY), down 8.1% after filing an automatic common stock shelf... New Mountain Finance (NMFC), down 4.4% after filing to sell 5M shares of common stock.
16:44 EDTTAT&T reports Q3 free cash flow $3.5B
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16:42 EDTTAT&T reports Q3 net increase in total wireless subscribers of 2M
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16:38 EDTTAT&T reports Q3 solid wireline consumer revenue growth 3% vs. year ago period
Reports Q3: Total U-verse revenues, including business, up 23.8% year over year; U-verse now a $15B annualized revenue stream. 601,000 U-verse high speed Internet subscriber net adds, including 44,000 business customers; more than 12M total U-verse high speed Internet subscribers. 216,000 U-verse TV subscribers added; more than 6M total U-verse video subscribers. Strategic business services revenue growth of 14.3% year over year, to reach an annualized revenue stream of almost $10B.
16:08 EDTTAT&T down over 3% following Q3 results, guidance
16:06 EDTTAT&T lowers FY14 revenue growth view to 3%-4% from 5% range, consensus $133.08B
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16:04 EDTTAT&T reports Q3 cash from operations $8.7B
16:04 EDTTAT&T reports Q3 postpaid net adds 785,000
Reports Q3: Postpaid net adds of 785,000, more than double the year-ago quarter; more than 2.4M postpaid net adds year to date. Best-ever third-quarter postpaid churn of 0.99%. Wireless revenues up 4.9% versus the year-ago quarter. Wireless data billings up nearly 24% versus the year-earlier quarter. Wireless operating income margin of 24.6%, with adjusted EBITDA service margin of 43.1%. Nearly 1.2M new postpaid smartphones added; smartphones accounted for 91% of postpaid phone sales. Nearly 47M connections on AT&T Mobile Share which represented about 62% of postpaid subscribers; more than half of Mobile Share accounts are on data plans of 10 gigabytes or higher. Best-ever third-quarter 6.8M postpaid smartphone gross adds and upgrades; 3.4M of all smartphone gross adds and upgrades on AT&T Next with no device subsidy.
16:01 EDTTAT&T reports Q3 adjusted EPS 63c, consensus 64c
Reports Q3 revenue $33B, consensus $33.24B.
15:37 EDTCMCSANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
15:30 EDTTNotable companies reporting after market close
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15:28 EDTCMCSAComcast October weekly 51.5 straddle priced for 3.4% move into Q3
13:06 EDTCMCSAEarnings Preview: Comcast reporting Q3 results as Time Warner deal progressing
Comcast (CMCSA, CMCSK) is set to report third quarter earnings before the market open on Thursday, October 23, with a conference call scheduled for 8:30 am ET. Comcast is a diversified media company that operates the NBC family of networks and Universal Pictures, among other cable, internet, and voice services. On February 13, Comcast announced plans to merge with Time Warner Cable (TWC) in a deal valued at $45.2B. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $16.82B, according to First Call. The consensus range for EPS is 64c-76c on revenue of $16.5B-$17.17B. LAST QUARTER: Comcast reported second quarter EPS of 75c against estimates for 72c, on revenue of $16.84B against estimates for $16.95B. TIME WARNER CABLE DEAL: On August 17, The Wall Street Journal reported that the Federal Communications Commission said that one issue it must decide as it reviewed the proposed acquisition of Time Warner Cable is whether to allow Comcast to continue Time Warner Cable's arrangement to handle programming and technology acquisitions for cable operator Bright House Networks. On August 26, Engadget reported that Netflix (NFLX) filed a formal protest against the Time Warner Cable deal, saying that the merger would result in "serious public interest harm" and that a combined cable giant would have a huge amount of leverage over it and rivals such as Hulu. Hulu is a joint venture owned by Comcast along with Disney (DIS) and 21st Century Fox (FOX,FOXA). The New York Post reported on September 8 that Discovery (DISCA) believed Comcast's takeover of Time Warner Cable would give the merged entity an unfair advantage over programmers. That same day, Reuters said a proxy statement detailed that Time Warner Cable employees would split $416M if the merger deal with Comcast did not transpire. At the Goldman Sachs Communacopia Conference on September 10, Comcast said that it has made "a lot of progress" on the shareholder approval process for the Time Warner Cable deal, but expected the agreement to be finalized in early fiscal year 2015 versus the previous guidance of late 2014. The company expects the Time Warner Cable merger to generate $1.5B in operating expense synergies. On September 16, Comcast said at the Media, Communications and Entertainment Conference that it would reveal its capital plan at the close of the Time Warner Cable deal and noted at that time that "everything was on track" regarding the merger. The Wall Street Journal reported on September 30 that the FCC pushed for media companies to submit details of their programming agreements with Comcast prior to the Time Warner Cable deal. The FCC announced three days later that it extended time for the companies to file their replies on Comcast regarding the merger. On October 8, Comcast Shareholders approved stock issuance for the Time Warner Cable deal and the next day, Time Warner Cable stockholders approved the Comcast merger deal. STREET RESEARCH: Analysts remained fairly quiet on Comcast throughout the quarter. On September 9, UBS raised its price target on Comcast to $72 from $60 given its strong underlying fundamentals and the expected free cash flow accretion from the Time Warner Cable deal. The firm also said it expected Comcast to accelerate its stock buyback and increase its dividend. UBS kept its Buy rating on the stock. On October 17, Goldman Sachs said that Comcast was its top large cap pick into the earnings report given steady fundamentals, moderated expectations, and valuation. The firm maintained the stock with a Buy rating and a $64 price target. PRICE ACTION: Since the first day of trade following its Q2 report on July 22, shares of Comcast are down about 3.5%. Since it announced its deal with Time Warner Cable on February 13, shares of the media company have fallen just under 6%. In late-morning trade ahead of tomorrow’s Q3 report, shares of Comcast are down fractionally.
11:12 EDTCMCSA, TFCC stops 'informal clock' for review of AT&T, Comcast proposed deals
Federal Communications Commission disclosed in a notice on its website that a number of commenters filed a motion for an extension of time to file replies in Docket 14-57, which is the review of the application of Comcast (CMCSA) for approval of its proposed acquisition of Time Warner Cable (TWC). Among other points, the commenters argue that certain third-party programmers “do not want any of the interested parties’ outside counsel or experts to view [their programming contracts],” the FCC noted. "We agree with these commenters that their current inability to review Highly Confidential Information that has been submitted in these dockets significantly hampers their ability to meaningfully comment and participate in these proceedings, in both Docket 14-57 and Docket 14-90. Accordingly, we are suspending the pleading cycles and stopping our 180-day informal time clock in both dockets," the FCC stated. Docket 14-90 refers to AT&T's (T) proposed purchase of DIRECTV (DTV). Reference Link
09:12 EDTCMCSAComcast should be owned into Q3 results, says Pacific Crest
Pacific Crest expects Comcast's video subscriber trends to improve in Q3, and the firm thinks the company's video business could surpass expectations by gaining share over the next two years. Pacific Crest keeps a $65 price target and Outperform rating on the name.
October 21, 2014
13:09 EDTTEarnings Preview: AT&T to benefit from strong iPhone 6 demand, Wells Fargo says
AT&T (T) is expected to report third quarter earnings after the market close on Wednesday, October 22, with a conference call scheduled for 4:30 pm ET. AT&T is a global telecommunications company offering wireless and long distance services. EXPECTATIONS: Analysts are looking for earnings per share of 64c on revenue of $33.24B, according to First Call. The consensus range for EPS is 59c-66c on revenue of $31.77B-$34.34B. LAST QUARTER: AT&T reported second quarter EPS of 62c against estimates for 63c on revenue of $32.6B against estimates for $33.22B. On its Q2 earnings report, the company forecast FY14 EPS growth at the low end of a mid-single digit range, compared to consensus of $2.62. It sees: FY14 consolidated revenue growth in the 5% range, versus consensus $133.93B; FY14 free cash flow in the $11B range; FY14 capital expenditures remaining in the $21B range. In Q2, AT&T reported the following: total branded smartphone net adds, both postpaid and prepaid, of 576,000; total branded tablet net adds of 250,000; 366,000 postpaid tablet net adds; postpaid churn of 0.86%. On September 25, DirecTV (DTV) stockholders voted overwhelmingly to approve DIRECTV’s proposed merger with AT&T. STREET RESEARCH: Street research has been light in the weeks leading up to AT&T's Q3 earnings report. On September 15, Wells Fargo said AT&T should particularly benefit from strong Apple (AAPL) iPhone 6 demand. After Apple reported that over 4M iPhone 6 units were pre-ordered in the first 24 hours of eligibility, Wells Fargo said that it believed strong demand for the phones will be positive for all of the wireless carriers, but particularly for AT&T because of its strategic decision to focus on its early upgrade "Next!" program. The firm maintained its Outperform rating on AT&T. PRICE ACTION: AT&T’s shares have fallen approximately 4% since the company's Q2 report, but they did manage to make a 52-week high of $37.48 in late July. In afternoon trading ahead of tomorrow’s Q3 report, AT&T’s shares are up 0.5%.
October 20, 2014
07:15 EDTTAT&T weekly volatility elevated into Q3 and outlook
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October 17, 2014
09:59 EDTCMCSAComcast volatility elevated into Q3 and outlook
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09:29 EDTCMCSAComcast it top large cap pick into the print, says Goldman
Goldman said Comcast is its top large cap pick into the earnings report given steady fundamentals, moderated expectations, and valuation. Shares are Buy rated with a $64 price target.
08:00 EDTCMCSAHBO may have fight with cable operators over OTT service price, Reuters says
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