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Stock Market & Financial Investment News

News Breaks
July 17, 2014
08:42 EDTYHOO, CBS, FOXA, TWXCBS, Yahoo among potential CNN buyers if Time Warner divests, WSJ says
If Time Warner (TWX) were to divest CNN, which has been raised as a possiblity given the interest in Time Warner expressed by Fox News owner 21st Century Fox (FOXA), the "long list of potential buyers" would include CBS (CBS), Yahoo (YHOO) and Bloomberg LP, said The Wall Street Journal, citing media analysts and executives. Reference Link
News For TWX;CBS;YHOO;FOXA From The Last 14 Days
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August 31, 2015
16:08 EDTCBSBarrington to hold a conference
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12:04 EDTYHOOStocks with call strike movement; BABA YHOO
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08:44 EDTFOXANetflix confirms that it will not renew agreement with Epix
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August 30, 2015
18:51 EDTFOXANetflix to lose access to certain high profile movies, Re/code says
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17:13 EDTTWX'Compton' leads again as 'We Are Your Friends' stumbles at box office
Hip hop biopic "Straight Outta Compton" continued its domestic box office dominance while Christian drama "War Room" outpaced analyst estimates and electronic dance flick "We Are Your Friends" fizzled. U.S. WEEKEND LEADER: Comcast (CMCSA, CMCSK) subsidiary Universal's "Straight Outta Compton" grossed $13.2M domestically for the weekend of August 30, securing the top box office spot for a third consecutive week. In a record-breaking performance for musical biopics, the gangster rap film has earned $134.1M in the U.S. since opening earlier this month. Though Warner Bros.' (TWX) "We Are Your Friends" was predicted to challenge "Compton" with sales ranging $8M-$10M, the Zac Efron-led electronic music film flopped at just $1.8M. BOX OFFICE RUNNERS-UP: Produced with an estimated budget of $3M, Sony's (SNE) faith-based drama "War Room" debuted at $11M against expectations for $5M-$8.5M after leading in advance ticket sales. Viacom (VIA, VIAB) subsidiary Paramount's "Mission: Impossible Rogue Nation" relinquished its grip on second place with an $8.3M gross for the weekend, while Weinstein Company's action thriller "No Escape" opened in fourth place at $8.29M. "Sinister 2" from Comcast subsidiary Focus Features rounded out this weekend's Top 5 at $4.7M.
August 28, 2015
10:43 EDTTWXFly Watch: 'Straight Outta Compton' expected to lead box office for third week
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06:28 EDTFOXAProsecutor wants to summon Murdoch, others in Deutsche Bank case, Reuters says
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August 27, 2015
10:01 EDTCBSCBS and TEGNA renew affiliation agreement
CBS (CBS) and TEGNA (TGNA) have announced a comprehensive deal that renews station affiliation agreements for 10 TEGNA Media markets nationwide. The markets renewed cover over nine percent of the U.S. and serve more than 10 million households. The new deal also includes TEGNA's participation in CBS All Access, the company's digital subscription, video on demand and Nielsen-measured live streaming service. The addition of all TEGNA CBS-affiliated stations will expand the live linear feed coverage of CBS All Access to 85 percent of U.S. households by year-end. The agreement includes renewals for TEGNA-owned CBS affiliates: WUSA in Washington, D.C.; WTSP in Tampa, FL.; WFMY in Greensboro, NC; KTHV in Little Rock, AR; WLTX in Columbia, SC; WMAZ in Macon, GA; KREM in Spokane, WA; KHOU in Houston, TX; KENS in San Antonio, TX; and WWL in New Orleans, LA.
06:40 EDTFOXANielsen to start tracking for online streaming shows, WSJ reports
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06:33 EDTYHOOYahoo announces Tumblr sharing tools at Mobile Developer Conference
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August 25, 2015
19:16 EDTFOXATV service Hulu to feature programmatic ads powered by Facebook, Oracle
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10:57 EDTFOXA, CBS, TWXHilliard Lyons upgrades Disney after recent pullback
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10:01 EDTCBSCablevision, CBS reach new comprehensive content carriage agreement
Cablevision Systems Corporation (CVC) and CBS Corporation (CBS) announced a broad-based multi-year content carriage agreement. The new deal covers retransmission consent for CBS-owned stations, and the continued carriage of SHOWTIME(R), CBS Sports Network and Smithsonian Channel. Financial terms were not disclosed. As part of the new agreement, Cablevision is the first cable or satellite provider to announce plans to distribute CBS All Access and SHOWTIME Internet services to its Optimum Online customers. Pricing plans, timing and other particulars will be provided at a later time.
06:13 EDTYHOOThird Point, FTC settle over antitrust filings for 2011 Yahoo stake
Three affiliated hedge fund companies and their management company, Third Point LLC, have agreed to settle Federal Trade Commission charges that they violated premerger reporting laws in connection with their 2011 acquisitions of stock in Yahoo! Inc. The complaint alleges that Third Point Partners Qualified L.P., Third Point Ultra, LTD, and Third Point Offshore Fund, LTD failed to observe the filing and waiting requirements of the Hart-Scott-Rodino Act before purchasing shares in Yahoo. According to the complaint, the three defendant funds claimed that they were exempt from reporting to the U.S. antitrust authorities because the purchases were made solely for investment purposes. At the time of the stock purchases, however, defendant Third Point LLC, which made investment decisions on behalf of the funds, was taking actions inconsistent with an investment-only intent, such as communicating with third parties to determine their interest in becoming the CEO or a board candidate of Yahoo. Under the terms of the proposed stipulated five-year federal court order, the defendants are prohibited from relying on the investment-only exemption if they have contacted third parties to gauge their interest in joining the board of the target company, communicated with the target company about proposed candidates for its board, or engaged in other specified conduct in the four months prior to acquiring voting securities above the HSR Act threshold. In this case, the agencies determined not to seek civil penalties based on several factors, including that the violation was inadvertent and short-lived, and this was the defendants' first violation of the HSR Act.
06:07 EDTTWXWarner Bros. in talks with China Media Capital to form film JV, WSJ reports
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August 24, 2015
09:45 EDTFOXAOn The Fly: Analyst Downgrade Summary
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07:34 EDTFOXA21st Century Fox downgraded to Hold from Buy at Needham
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August 23, 2015
16:22 EDTTWX, FOXA'Straight Outta Compton' finds little contention for No. 1 box office spot
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August 21, 2015
13:11 EDTFOXAFly Watch: 'Straight Outta Compton' eyes second weekend at top spot
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08:53 EDTTWX, FOXA, CBSAfter rough week, Disney shares expected to recover
With fears of cord cutting and declining advertising rates consuming the minds of investors and analysts this week, Disney (DIS) shares have dropped 7% over the past five trading days. Stepping out of the growing pack of bearish analysts is FBR Capital's Barton Crockett. ROUGH WEEK: On Tuesday, Wells Fargo analyst Marci Ryvicker downgraded her rating on Disney (DIS), CBS (CBS), 21st Century Fox (FOXA) to Market Perform from Outperform. None of the large media companies reported that their revenue from cable stations or broadcast networks increased in the most recent quarter, Ryvicker told investors. TV distributors have more favorable characteristics than the media companies, she argued. Then on Thursday, Bernstein analyst Todd Juenger downgraded Disney (DIS), along with Time Warner (TWX), to Market Perform from Outperform. The move by viewers away from ad-supported platforms to non-ad-supported services like Netflix (NFLX) will bring a "prolonged structural decline" to the U.S. television industry, Juenger contended. PATH TO RECOVERY: Sentiment is driving Disney and the media stocks lower, FBR Capital's Barton Crockett tells investors this morning in a research note titled "Performance Is the Best Defense: How Disney, Near Term, Can Separate from Peers." Cord cutting and advertising fears are taking down the valuation multiples in the media sector, but consensus earnings estimates are little changed, the analyst writes. Cord cutting is the term used to describe the dropping of cable or satellite TV in favor of an online streaming service. Crockett sees a number of "performance positives near term" that can help shares of Disney recover. The owner of ESPN can separate itself from peers with solid second half of 2015 advertising trends when football returns, he believes. Disney can also benefit from the retail push for Star Wars movie merchandise, starting with a midnight door-buster national product launch on September 4, the analyst writes. PETER OUT: Crockett expects cord-cutting fears to "peter out." Cable bundles broadband with TV, and most households have a sports fan, he points out. While Netflix takes audiences from non-sports content, sports will save the bundle subscription model that benefits Disney's ESPN unit, Crockett thinks. He has an Outperform rating on Disney with a $124 price target. The stock closed yesterday down $6.44, or 6%, to $100.01. Over the past three months, Disney is down over 9%.
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