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Stock Market & Financial Investment News

News Breaks
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%.
News For TWX;FOXA;FOX;SNI;DISCA;AMCX;VIA;VIAB;CBS From The Last 14 Days
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February 1, 2016
13:18 EDTCBSNFL near deal with CBS, NBC to split up Thursday games, Bloomberg says
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12:58 EDTFOX, FOXADreamWorks falls after Piper says 'Kung Fu Panda 3' missed expectations
Shares of DreamWorks Animation (DWA) dropped in midday trading after an analyst from Piper Jaffray said that the studio's new film "Kung Fu Panda 3" slightly underperformed his expectations, despite having topped the U.S. box office in its opening weekend. WHAT'S NEW: DreamWorks' newest picture "Kung Fu Panda 3," starring Jack Black, Dustin Hoffman and Angelina Jolie, topped the U.S. box office this past weekend after its release Friday, grossing $41M domestically. The film was produced by DreamWorks and distributed by 21st Century Fox (FOX), which also distributed the weekend runner-up "The Revenant," which grossed $12.4M in the U.S. WHAT'S NOTABLE: The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. 'SLIGHT' UNDERPERFORMANCE: Commenting on the movie's performance over the weekend, Piper Jaffray analyst James Marsh said in a note to clients that the movie's $41M debut figure was "solid" but still slightly missed the firm's expectations of $45M-$50M. Marsh noted that the movie grossed an "impressive" $58M in China, which set a new opening record for an animated movie in that region. The analyst added that "Kung Fu Panda 3" should still have a solid run over the next few weeks due to good reviews, minimal competition, President's weekend domestically and a Chinese New Year holiday abroad. Marsh maintained an Overweight rating and $31 price target on DreamWorks Animation. RECENT DOWNGRADE: Last week, Topeka analyst David Miller downgraded DreamWorks Animation to Sell from Hold with a $19 price target ahead of the "Kung Fu Panda 3" release, citing valuation. Miller said that shares had already reflected expectations for the movie and recommended that investors trim their positions. PRICE ACTION: In afternoon trading, DreamWorks Animation fell 6.7% to $23.92.
07:35 EDTDISCAIMAX, Discovery enter global distribution, marketing partnership
IMAX (IMAX) announced a distribution and marketing partnership, which provides Discovery Communications' (DISCA, DISCB, DISCK) flagship network Discovery Channel with 18 months of exclusive paid global television rights for up to 10 IMAX documentary films to be released through the IMAX Original Film Fund, following the titles' theatrical release across the IMAX institutional theatre network. The alliance marks IMAX's first television distribution agreement for original content. Under the partnership agreement, Discovery Channel will air IMAX documentaries worldwide following their theatrical IMAX release, and consult on development, production and marketing. The IMAX Original Film Fund was established in 2014 to deliver new educational documentaries for the Company's institutional partners, which include many of the world's most prestigious museums, science centers and aquariums. The Fund will finance an ongoing supply of educational documentaries that push the envelope of traditional documentary filmmaking for a new generation of moviegoers.
January 31, 2016
20:43 EDTTWXOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
20:11 EDTFOXA, TWX, FOXTime Warner, Hulu talks heat up over issue of current seasons, WSJ says
Time Warner's (TWX) negotiations to potentially buy into Hulu, a joint venture of Comcast (CMCSA, CMCSK), Fox (FOX, FOXA) and Disney (DIS), have been heating up lately over the issue of Hulu subscribers being able to view current-season TV shows, reports the Wall Street Journal, citing sources. Though the feature is a differentiator for Hulu when compared to Netflix (NFLX) and Amazon (AMZN), Time Warner believes the presence of full, current seasons contributes to cord cutting, the report says. Reference Link
18:07 EDTFOX, FOXA'Kung Fu Panda 3' swings to first, 'Finest Hours' lands in choppy waters
"Kung Fu Panda 3" topped the box office in its U.S. debut while nautical disaster drama "The Finest Hours" floundered. WEEKEND LEADER: "Kung Fu Panda 3," produced by DreamWorks (DWA) and distributed by Fox (FOX, FOXA), grossed $41M against expectations for $35M-$50M in its domestic debut during the weekend of January 31. The computer-animated action comedy, featuring the voices of Jack Black, Dustin Hoffman and Angelina Jolie, set a new box office record for January animated film openings but fell somewhat short of the $60.2M and $47.7M debuts seen by previous films in the franchise. BOX OFFICE RUNNERS-UP: "The Revenant," also from Fox, grossed $12.4M. Disney's (DIS) "Star Wars: The Force Awakens" took in an additional $10.8M and stands at $1.98B globally, while the company's "The Finest Hours" earned $10.3M in its domestic start despite an estimated $70M-$80M budget. Rounding out the top five was Universal's (CMCSA, CMCSK) "Ride Along 2" with $8.3M.
16:31 EDTTWXNelson Peltz considering activist position in Time Warner, NY Post says
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13:15 EDTVIA, VIABViacom could appeal to long-term investors, Barron's says
Viacom shares look appealing for long-term value oriented investors, Barron's contends in its 'Trader Extra' column, citing activist firm SpringOwl's recent calls for change at the company. Reference Link
January 29, 2016
12:53 EDTFOXA, FOXBox Office Battle: 'Kung Fu Panda 3' expected to kick 'Revenant' from top spot
DreamWorks Animation's (DWA) "Kung Fu Panda 3" featuring Jack Black is expected to break the record for the largest January opening for an animated feature, topping the opening of "The Nut Job" in 2014. The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. With a strong base of Po the Panda fans and the popularity of a recent TV show, conservative early estimates say "Panda 3" is expected to bring in $35M-$50M. Also opening this weekend are Disney's (DIS) "The Finest Hours," starring Chris Pine, and Open Road Films' "Fifty Shades of Black," starring Marlon Wayans. "The Finest Hours" may disappoint, with expectations topping out at $10M in its opening weekend. "Fifty Shades of Black," meanwhile, is the latest spoof movie from the team of Wayans and Michael Tiddes from "Haunted House" fame. The last film from Wayans had an opening weekend of $8.8M, and this one is currently expected to take in a similar amount. Both films will battle with Fox's (FOX, FOXA) survival story and Oscar contender "The Revenant," starring Leonardo Dicaprio, and Disney's (DIS) "Star Wars: The Force Awakens" for spots in the top five. "The Revenant" and "Star Wars" should each take in $9M-$12M even as they continue to lose theaters this coming weekend. Other publicly traded companies involved in filmmaking include Lionsgate (LGF), Comcast (CMCSA, CMCSK), and Sony (SNE).
06:49 EDTVIA, VIABViacom chairman to be evaluated by doctor hired by Manuela Herzer, NY Post says
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06:14 EDTFOXA, FOXSky names James Murdoch chairman, WSJ reports
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January 28, 2016
05:44 EDTVIASpringOwl calls for Yahoo, Viacom to seek partners, Reuters reports
SpringOwl Asset Management, which holds undisclosed stakes in Yahoo (YHOO) and Viacom (VIA), is urging the boards of both companies to seek investments from strategic partner, Reuters reports, citing an article that is set to be published today. SpringOwl managing director Eric Jackson says that "Although some shareholders of both Yahoo and Viacom think that a simple sale or break-up of both companies is the best way to create value for shareholders, we believe that both companies could benefit from their own version of the 'Buffett Convert,'" and that while stakes of investors would be diluted if an outside investor steps in, but "they would still be better off because their shares would likely get re-rated upwards substantially with this new partner sitting around the board table." Jackson believes Yahoo should seek outside investment from Liberty Media (LMCA), Verizon (VZ) or AT&T (T), while Viacom would benefit from Alibaba (BABA), Amazon (AMZN) or AMC Entertainment (AMC). Reference Link
January 27, 2016
09:07 EDTCBSCBS signs long-term licesing agreement for Showtime programming in Australia
CBS and Stan, a joint venture between Nine Entertainment Co. and Fairfax Media, signed a long-term, exclusive licensing agreement that will bring all future Showtime series and programming to the Australian streaming service. CBS has signed similar exclusive deals for Showitme with Sky in Europe and Bell Media in Canada.
January 26, 2016
19:23 EDTFOX, FOXANetflix bid $20M for 'Birth of a Nation,' Bloomberg says
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12:00 EDTVIABViacom downgraded to Market Perform from Outperform at Barrington
Barrington analyst James Goss downgraded Viacom (VIAB) to Market Perform saying it will take time for the company to fix the measurement issues in its key, younger demographics. The analyst believes a cautious is warranted into Viacom's earnings release on February 9.
11:56 EDTVIA, VIABViacom downgraded to Market Perform from Outperform at Barrington
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11:42 EDTVIABOptions with increasing call volume; TEX MTW MTG SEE KBH SNDK WDC VALE VIAB PII
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08:26 EDTTWX, FOXATwitter in play after executive departures, says Cantor
Cantor Fitzgerald analyst Youssef Squali believes yesterday's news of several senior executives leaving Twitter (TWTR) puts the company in play and could encourage potential bidders to step forward. Twitter's current valuation and sizeable user base makes it a strategic asset for a number of potential buyers, Squali told investors last night in a research note. Potential suitors on the technology side include Alphabet (GOOG, GOOGL), Facebook (FB) and Microsoft (MSFT), the analyst contends. On the media side, Squali thinks 21st Century Fox (FOXA), Disney (DIS), Comcast (CMCSA) or Time Warner (TWX) could express interest in Twitter. No concentration of share ownership and no super-voting structure increase the odds of a buyout, Squali argues. The analyst, however, adds that the executive departures are not good news for a company in the midst of a turnaround. He maintains a Buy rating on the microblogging operator with a $45 price target. Twitter closed yesterday down 82c, or 5%, to $17.02..
January 24, 2016
18:28 EDTTWXAT&T potentially circling Time Warner, New York Post says
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17:55 EDTFOX, FOXA'The Revenant' tops box office as 'Ride Along 2' sags
"The Revenant" clawed past "Ride Along 2" as this weekend's snow storm left several box office newcomers grasping for ticket sales. WEEKEND LEADER: Fox's (FOX, FOXA) "The Revenant" grossed $16M domestically for the weekend of January 24. The Leonardo DiCaprio-led survival Western was expected to take $19M-$21.6M, though results may have been dampened by the East Coast winter storm. BOX OFFICE RUNNERS-UP: Disney's (DIS) "Star Wars: The Force Awakens" earned $14.3M and now stands at $1.94B globally. Comcast (CMCSA, CMCSK) subsidiary Universal's "Ride Along 2" dipped to $13M against expectations for $18M-$18.7M, with critics and audiences generally lukewarm on the film despite its $34M open last weekend. Rounding out the weekend's top five were Lionsgate's (LGF) "Dirty Grandpa" and STX Entertainment's "The Boy," with the two newcomers debuting at a respective $11.5M and $11.3M.
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