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July 16, 2014
11:45 EDTCBS, AMCX, FOX, VIAB, DISCA, FOXA, VIA, SNI, TWXMedia stocks rally after Time Warner rejects Fox bid
Media stocks are rallying after Time Warner (TWX) confirmed that it rejected an offer made by 21st Century Fox (FOXA, FOX) to combine the media giants. WHAT'S NEW: Both Time Warner and 21st Century Fox confirmed an earlier CNBC report that Time Warner rejected an $80B takeover offer from 21st Century Fox. Time Warner said it turned down Fox's offer to acquire all of the outstanding shares of the company for a combination of 1.531 of Twenty-First Century Fox Class A non-voting common shares and $32.42 in cash per share. Time Warner added that its board is confident that continuing to execute its strategic plan will "create significantly more value for the company and its stockholders and is superior to any proposal that Twenty-First Century Fox is in a position to offer." 21st Century Fox also confirmed that it made a formal proposal to Time Warner, which was rejected, and added that the companies are not currently in any discussions. PRICE ACTION: In late morning trading, Time Warner advanced 16.5% to $82.70, while Twenty-First Century Fox class A shares are down 5% to $33.45. OTHERS TO WATCH: Other media stocks were trading higher after the news. Discovery Communications (DISCA) rose 6%, Scripps Networks Interactive (SNI) gained 3%, AMC Networks (AMCX) added 3.2%, Viacom class B shares (VIAB) increased 4% and CBS (CBS) advanced 1.5%.
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November 27, 2015
07:45 EDTTWX, CBS, FOXAAmazon plans to let Prime users add other online networks, Bloomberg reports
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November 25, 2015
18:50 EDTFOX, FOXAAmazon to add other networks, channels to Prime Video, Bloomberg says
Amazon (AMZN) will soon partner with "major, well-known" movie and TV channels for its Amazon Prime Instant Video streaming service, allowing customers to add other online subscriptions to their accounts, reports Bloomberg, citing sources. Prime Instant Video will also feature videos and branding from the new partners, most of which expect some form of revenue sharing with Amazon, and the company is working to allow users to directly log in to other streaming services using their Amazon credentials. The company will also sell prepackaged bundles, said the sources, adding that the features could launch as early as next month. The publication notes that the move may help Amazon better compete with Netflix (NFLX) and Hulu, a joint venture of Disney (DIS), Comcast (CMCSA, CMCSK), and Fox (FOX, FOXA). Reference Link
November 24, 2015
07:07 EDTVIA, VIABJefferies calls Viacom an attractive value play in media
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November 23, 2015
10:00 EDTVIA, VIABOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aixtron (AIXG) downgraded to Neutral from Overweight at JPMorgan... Cavium (CAVM) downgraded on checks at JMP Securities... Chico's (CHS) downgraded to Underperform from Peer Perform at Wolfe Research... Chipotle (CMG) downgraded on new E coli infections at Sterne Agee CRT... Constant Contact (CTCT) downgraded to Sell from Hold at Stifel... Fairchild (FCS) downgraded to Neutral from Positive at Susquehanna... Haemonetics (HAE) downgraded to Underperform from Market Perform at Raymond James... Jumei (JMEI) downgraded to Underperform from Buy at CLSA... Phillips 66 (PSX) downgraded to Sell from Neutral at Goldman... Power Integrations (POWI) downgraded to Neutral from Buy at Sidoti... Tata Motors (TTM) downgraded to Sell from Neutral at Goldman... Textura (TXTR) downgraded to Neutral from Outperform at Credit Suisse... TriVascular (TRIV) downgraded to Neutral from Buy at BTIG... Viacom (VIAB) downgraded to Hold from Buy at Deutsche Bank.
07:31 EDTVIABViacom weakness overdone, says RBC Capital
RBC Capital believes that Viacom's multiple compression is overdone, given what it sees as the company's visibility in affiliate fee revenues, cost savings from restructurings, and improving ad revenue outlook. RBC keeps a $60 price target and Outperform rating.
06:28 EDTVIAB, VIAViacom downgraded to Hold from Buy at Deutsche Bank
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November 22, 2015
16:22 EDTFOXA, FOX'Hunger Games' finale opens below series average
Though showing clear dominance in the box office rankings, the final film in the "Hunger Games" saga missed analyst estimates in its domestic open. WEEKEND LEADER: Lionsgate's (LGF) "The Hunger Games: Mockingjay - Part 2" debuted at $101M domestically for the weekend of November 22, missing expectations for $120M-$127M and coming in markedly below the series' $144M first-weekend average. The final entry in the dystopic science fiction tetralogy also saw a weaker open than last year's $121M launch for "Mockingjay - Part 1," though reviews have been slightly stronger. BOX OFFICE RUNNERS-UP: Sony's (SNE) latest James Bond outing "Spectre" slipped to second place at the U.S. box office with $14.6M, while Fox's (FOX, FOXA) "The Peanuts Movie" took in $12.8M. Rounding out the weekend's Top 5 were Sony's "The Night Before" and STX's "The Secret In Their Eyes," with the two newcomers earning a respective $10.1M and $6.6M.
November 20, 2015
11:45 EDTFOX, VIA, VIAB, FOXA, TWXBox Office Battle: 'Hunger Games' finale expected to top box office
Lions Gate's (LGF) "The Hunger Games: Mockingjay - Part 2," the final movie based on the dystopian young adult novels, is opening this weekend at 4,175 theaters and is expecting a domestic gross in the range of $120M-$127M. Piper Jaffray analyst James Marsh said in a note to investors on November 18 that he expects the film to open domestically in the $130M range, above where it is tracking, due to limited competition and the addition of IMAX (IMAX) screens. Piper maintained its Overweight rating and $45 price target on Lions Gate shares at that time. "The Hunger Games" main competition is "Spectre" and "The Peanuts Movie," both of which are in their third weekend of release. Sony's (SNE) "Spectre," starring Daniel Craig as James Bond, is expected to earn another $15.2M-$16.8M. Fox's (FOX, FOXA) G-rated family film, starring a 3D-animated Charlie Brown, is predicted to earn an additional $12.5M-$13.2M. In other box office news, the Wall Street Journal reported that Disney's (DIS) "Star Wars: The Force Awakens," which hits theaters on December 18, has had record-breaking pre-sales. Fandango said the film has already sold more tickets than any other movie before its release, which is still four weeks away, and IMAX said the movie has "doubled" its prior pre-sales record of about $9M. Other publicly traded companies involved in filmmaking include Comcast (CMCSA, CMCSK), Time Warner (TWX), and Viacom (VIA, VIAB).
November 19, 2015
10:02 EDTFOXA21st Century Fox establishes partnership with Tony Sella
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November 18, 2015
17:44 EDTTWXTCS Capital reports 10.9% stake in Central European Media, urges sale of company
In a regulatory filing reporting its position in the company, TCS Capital stated it delivered a letter on November 18 to Central European Media's (CETV) chairman and board of directors urging the hiring of a financial adviser to explore a sale of the company. In the letter, TCS expressed concern about the "poor performance" of the company's stock price, which it believes is "directly tied to Time Warner's (TWX) dominant position as both the largest debt and equity holder" of Central European.
06:16 EDTFOX, FOXAComcast dumps YES Network, WSJ reports
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November 17, 2015
11:18 EDTSNIScripps Networks management to meet with MKM Partners
Meeting to be held in the Mid-Atlantic area on November 17 hosted by MKM Partners.
09:14 EDTTWXDolby, VUDU to release Warner Bros. titles for Dolby Vision
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08:56 EDTTWXTime Warner announces proposed debt offering
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November 16, 2015
17:02 EDTTWXPoint72 added to lululemon position, subtracted from Netflix position
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16:43 EDTFOXAGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
15:53 EDTTWXJANA Partners reduces stakes in Rackspace, Qualcomm
JANA Partners gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Mattel (MAT), Zoetis (ZTS), and Aramark (ARMK). INCREASED STAKES: ConAgra Foods (CAG). DECREASED STAKES: Rackspace (RAX), Qualcomm (QCOM), Time Warner (TWX), Starz (STRZA), and Lions Gate (LGF). LIQUIDATED STAKES: Johnson Controls (JCI), Precision Castparts (PCP), AerCap Holdings (AER), United Rentals (URI), and HD Supply Holdings (HDS).
09:59 EDTFOXAOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
07:36 EDTVIABBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).
November 15, 2015
17:09 EDTFOX, TWX, FOXA'Spectre' stays uncatchable while Christmas-themed 'Coopers' outperforms
"Spectre" and "The Peanuts" remained in first and second place, respectively, at the domestic box office while Christmas comedy "Love The Coopers" topped expectations heading into the holiday period. WEEKEND LEADER: Sony's (SNE) "Spectre" grossed $35.4M in the U.S. for the weekend of November 15, falling roughly 50% from its $73M domestic open. Globally speaking, the latest James Bond film has pulled in $543.8M in just its second week at the box office. BOX OFFICE RUNNERS-UP: Fox's (FOX, FOXA) "The Peanuts Movie" earned $24.2M, as Charlie Brown and friends fell somewhat short of analyst expectations for $28.7M. Meanwhile, Lionsgate's (LGF) Christmas-themed comedy "Love The Coopers" debuted at $8.4M, beating estimates of $5.2M-$8M despite harsh reviews. Rounding out the weekend's Top 5 were Fox's "The Martian" with $6.7M and newcomer "The 33" at $5.8M. Analyst expectations ranged $5.5M-$10M for the disaster survival drama from Time Warner's (TWX) Warner Bros.
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