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Stock Market & Financial Investment News

News Breaks
January 13, 2014
07:12 EDTT, SFTBF, S, DISH, TMUST-Mobile CEO: Our brand is 'here to stay,' WSJ reports
T-Mobile (TMUS) CEO John Legere says a deal with Sprint (S) “would provide significant scale and capability,” reports the Wall Street Journal. But, “the T-Mobile Uncarrier business, the people, the brand the attitude is here to stay…I think what we’re doing in any scenario we will prevail,”he added. Reference Link
News For TMUS;S;T;DISH;SFTBF From The Last 14 Days
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February 10, 2016
05:53 EDTDISHTime Warner's HBO Now 'falling short of analyst expectations,' NY Post reports
HBO Now, Time Warner's (TWX) streaming service, is falling short of analyst expectations after getting off to a slow start, The New York Post reports. According to two pay-TV insiders, HBO Now had 800,000-1M paying subscribers at the end of 2015, below the 1M-2M subscribers Wall Street forecast. Netflix (NFLX) said last month that it had over 75M subscribers, while Sling TV, part of Dish Network (DISH), reported nearly 400,000 subscribers as of November. Reference Link
February 9, 2016
13:25 EDTTFox, Viacom drop on earnings as Bernstein says linear TV still 'doomed'
21st Century Fox (FOX, FOXA) and Viacom (VIA, VIAB) are trading lower after issuing their latest quarterly reports, with some Wall Street analysts reiterating doom-and-gloom views on the linear TV programming upon which the two media giants have traditionally relied. RESULTS: Fox reported second quarter adjusted earnings per share of 44c, in-line with analyst consensus estimate. Revenue was $7.38B against expectations for $7.51B, with film revenue slowing to $2.36B from last year's $2.75B. During the company's Q2 earnings conference call, 21st Century Fox said it sees its fiscal 2016 EBITDA to be flat to up by a low single digits percentage. Viacom reported first quarter adjusted EPS of $1.18, also in-line with estimates. Revenue was $3.15B against expectations for $3.26B, with domestic ad revenue declining 4%. UBS SEES GROWTH COMING FOR FOX: UBS analyst Meghan Durkin said Tuesday that, despite Fox once again cutting its outlook for 2016 earnings before expenses, growth looks set to lift off for the company through 2019. Current headwinds appear less worrisome than the previous operational issues in the company's broadcast unit; cable subscriber trends have been improving, likely due to a lessening impact from skinny bundles; and U.S. ad results are also improving and should see further boosts from the upcoming presidential elections, the analyst noted. That said, Durkin conceded that few investors will have confidence in her team's bullish growth outlook, but Fox's potential 11% compounded annual growth rate is worth the wait, she argued. Durkin reiterated her Buy rating on the shares while lowering her 2016 earnings per share outlook by 12c to $1.68, noting that Fox's film release schedule for the year "appears much better positioned," though impacts from unfavorable foreign currency exchange remains a "minor swing factor." STILL POSITIVE ON VIACOM: Shifting focus to Viacom, Evercore analyst Vijay Jayant noted today that the company's Q1 ad sales saw sequential improvement, driven by higher prices and moderated ratings declines on the back of investments in content and marketing initiatives. Affiliate fees were lighter than expected, however, which the analyst pinned on the timing of Viacom's digital distribution agreements and presumably its rate reset with AT&T (T). Viacom also announced a global partnership with the popular video messaging service Snapchat, which Jayant said fits well with Viacom's strategy of targeting millennials. The analyst kept a Buy rating and $60 price target on the shares. VALUE TRAP: Taking the more negative outlook, Topeka analyst David Miller said he still struggles to get more constructive on Viacom in the wake of today's results, which missed not just the Street's forecast but also the company's own predictions. Viacom's Paramount film division contracted 15% and the company still faces a "host" of secular challenges, leading Miller to cut his price target to $44 from $45 and caution that the stock continues to be a value trap for investors. Even more bombastic was research firm Bernstein, which reiterated its view that Viacom's old business of serving kids and teens through linear programming is "doomed," while new efforts to grab that demographic through digital outlets is "unlikely" to be won by Viacom. Even if the company succeeds in its on-demand, digital efforts, the margins offered by that business line are "vastly inferior," and today's deal with Snapchat doesn't appear to change that. PRICE ACTION: Shares of Viacom have crashed 15% to $35.51 in afternoon trading, while Fox has slipped 3% to $23.83.
09:11 EDTDISHViacom sees affiliate revenue growth in low-mid single digit range
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February 8, 2016
17:00 EDTTNFL shopping streaming rights for Thursday Night Football, Bloomberg says
The NFL is shopping the web streaming rights for Thursday Night Football and has held talks with Apple (AAPL), Amazon (AMZN), Yahoo (YHOO), Facebook (FB), Verizon (VZ) and AT&T (T), reports Bloomberg, citing sources. Though some of the companies rejected the high price asked by the league, Yahoo, Verizon, and AT&T are expected to bid, the sources told Bloomberg. The NFL is not pursuing a longterm relationship, and will instead use the next several years to explore various distribution models in preparation for selling a broader array of digital rights near 2021, the report said. Reference Link
14:50 EDTTAT&T management to meet with Evercore ISI
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February 5, 2016
09:04 EDTDISHDISH to open software development office in Denver, add 100 tech jobs
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February 4, 2016
12:28 EDTTAdtran spikes after Cowen analyst sees revenue opportunity in AT&T pact
Shares of communications equipment maker Adtran (ADTN) are advancing after research firm Cowen raised his rating and price target on shares following recent industry checks. WHAT'S NEW: Cowen analyst Paul Silverstein raised his rating on Adtran shares to Market Perform from Underperform following industry checks regarding Adtran's new G.Fast broadband access project win at AT&T (T). Recent industry checks confirm that Adtran was selected by AT&T for its G.Fast broadband access build-out project, the analyst said, and noted that checks also show that Adtran is the only vendor selected by AT&T for the Outside Network Unit and Distribution Point Unit functions of the project. The analyst, who raised his price target on Adtran shares to $16 from $14, sees the pact with AT&T as a significant revenue opportunity for Adtran over the next few years. WHAT'S NOTABLE: Adtran reported fourth quarter results on January 20, with earnings per share coming in at 12c on revenue of $139M, beating analysts' projections of 3c and $137.75M, respectively. On its quarterly conference call, the company forecast revenue for the first quarter to be flat to slightly up. According to Cowen's research note today, Adtran won't realize revenue gains from its broadband pact with AT&T until the beginning of calendar year 2017. PRICE ACTION: Shares of Adtran are up over 4.5% to $18.98 in midday trading. OTHERS TO WATCH: Shares of Calix (CALX), which also sells broadband communications access systems and software for fiber- and copper-based networks, are up 1.35% in midday trading.
10:01 EDTTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AT&T (T) initiated with a Buy at DA Davidson... Abaxis (ABAX) initiated with an Underperform at Credit Suisse... Aratana Therapeutics (PETX) initiated with an Outperform at Credit Suisse... Care.com (CRCM) initiated with an Equal Weight at Morgan Stanley... GCP Applied Technologies (GCP) initiated with a Buy at Jefferies... Heritage-Crystal Clean (HCCI) initiated with a Buy at Roth Capital... IDEXX (IDXX) initiated with an Outperform at Credit Suisse... Nexvet Biopharma (NVET) initiated with an Outperform at Credit Suisse... PetMed Express (PETS) initiated with an Underperform at Credit Suisse... Phibro Animal Health (PAHC) initiated with an Outperform at Credit Suisse... Pure Storage (PSTG) initiated with a Perform at Oppenheimer... SeaWorld (SEAS) initiated with a Neutral at Janney Capital... Seattle Genetics (SGEN) initiated with an Overweight at Barclays... VCA Inc. (WOOF) initiated with an Outperform at Credit Suisse... Verizon (VZ) initiated with a Neutral at DA Davidson... Zoetis (ZTS) initiated with an Outperform at Credit Suisse.
06:28 EDTTNews Corp not interested in Yahoo acquisition, Business Insider says
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05:49 EDTTVerizon initiated with a Neutral at DA Davidson
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05:48 EDTTAT&T initiated with a Buy at DA Davidson
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February 3, 2016
18:41 EDTTYahoo hires Qatalyst to advise on strategic alternatives, Re/code says
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14:09 EDTTBain, TPG among PE firms weighing bid for Yahoo core, FT reports
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13:37 EDTTComcast to be possible bidder for wireless airwaves, Bloomberg says
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February 2, 2016
08:04 EDTTMUS, TForum Global to hold a conference
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06:20 EDTTYahoo investors waiting on explicit sale signals, Re/code says
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February 1, 2016
09:11 EDTDISHDISH says releases Hopper 3 to customers nationwide
DISH Network (DISH) announced the availability of its award-winning Hopper 3 to customers nationwide. The third-generation of DISH's whole-home DVR system, Hopper 3 features 16 tuners, delivers an enhanced 4K experience and supports up to seven TVs simultaneously. In the coming weeks, Hopper 3 will launch the Netflix (NFLX) app and integrate Netflix titles into its universal search results.
05:13 EDTTAT&T implied volatility of 16 at lower end of index mean range
January 31, 2016
11:39 EDTSS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 29, 2016
05:24 EDTTAT&T implied volatility of 16 at lower end of index mean range
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