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Stock Market & Financial Investment News

News Breaks
August 6, 2014
17:05 EDTGRPN, ENPH, SFTBF, S, WAG, FOXA, TMUS, TWX, TAPOn The Fly: Closing Wrap
Stocks on Wall Street were nearly unchanged following a session dominated by talk of big name deals that did not happen. The market moved lower in the early going but found a level in the second half hour of trading and began to drift off the bottom. The averages crossed into positive territory about an hour after the opening bell and then spent most of the afternoon drifting. ECONOMIC EVENTS: In the U.S., the trade deficit narrowed to $41.5B in June from a revised $44.7B in May. In Europe, Italian GDP unexpectedly contracted 0.2% in Q2, putting the country into a technical recession, while German manufacturing orders surprised with a 3.2% June drop. COMPANY NEWS: Time Warner (TWX) reported better than expected quarterly profits, but its stock fell $10.95, or 12.85%, to $74.24 after 21st Century Fox (FOXA, FOX) last night announced that it had withdrawn its takeover bid for the parent of HBO, Warner Bros. and other entertainment properties. Class A shares of 21st Century Fox advanced $1.03, or 3.29%, to $32.33 in the wake of the news and the company's announcement of a $6B share repurchase program... Wireless carriers Sprint (S) and T-Mobile (TMUS) both fell after multiple media outlets reported that the third largest mobile phone carrier in the U.S. has ended its pursuit of trying to combine with the fourth largest one. Sprint, which also replaced CEO Dan Hesse with Marcelo Claure, the founder and CEO of SoftBank (SFTBF) subsidiary Brightstar, declined $1.38, or 18.96%, to $5.90, while T-Mobile shares slid $2.85, or 8.4%, to $31.06. MAJOR MOVERS: Among the notable gainers was brewer Molson Coors (TAP), which rose $3.87, or 5.76%, to $71.08 after the company's second quarter profits topped expectations. Also higher following its earnings report was Enphase Energy (ENPH), which advanced $1.36, or 14.02%, to $11.06. Among the noteworthy losers was Walgreen (WAG), which dropped $9.91, or 14.34%, to $59.21 after the company exercised its option to acquire the remaining 55% of Alliance Boots that it does not already own but said its purchase of the rest of the U.K.'s Boots will not be a "tax inversion" deal, as many had been expecting. Also lower were shares of Groupon (GRPN), which fell 90c, or 12.72%, to $6.17 after the company reported first quarter revenue that missed expectations and it lowered its fiscal 2014 adjusted EBITDA outlook. INDEXES: The Dow added 13.87, or 0.08%, to 16,443.34, the Nasdaq rose 2.22, or 0.05%, to 4,355.05, and the S&P 500 barely budged, gaining 0.03 to 1,920.24.
News For TWX;FOXA;S;TMUS;WAG;TAP;ENPH;GRPN;SFTBF From The Last 14 Days
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July 29, 2015
11:06 EDTS, TMUSSprint introduces Family Share Pack plan
With more data than T-Mobile (TMUS), and with significant savings over Verizon (VZ) and AT&T (T), Sprint (S) introduces the new Sprint Family Share Pack. Families switching to Sprint get four lines, unlimited talk, text and 10GB of high-speed data while on the Sprint network for $100/month starting July 31. Sprint says its new plan will save families $480/year over Verizon and $720/year over AT&T for virtually the same 10GB of data. Sprint says that 10GB is more than double the high-speed data in T-Mobile’s family plan.
05:28 EDTENPHEnphase Energy chosen by UK solar provider as primary technology partner
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July 28, 2015
15:25 EDTTWXVerizon reaches deal with Time Warner to offer HBO NOW
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09:06 EDTENPHEnphase Energy, Sunrun sign strategic supply agreement
Enphase Energy and Sunrun have entered into a strategic supply agreement to provide Enphase solar energy systems to Sunrun for its home solar installation business.
July 27, 2015
10:16 EDTTWXDisney CEO: ESPN could eventually be sold directly to consumers, CNBC reports
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06:09 EDTFOXA, TWXFox Networks Group leads $300M funding round for DraftKings, WSJ reports
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July 24, 2015
15:06 EDTFOXA, TWXEarnings Watch: TV networks report as streaming services gain ground
CBS (CBS), Time Warner (TWX), Viacom (VIA, VIAB), and 21st Century Fox (FOX, FOXA) are among TV network companies expected to report quarterly results over the next several weeks, with Comcast (CMCSA, CMCSK) already having reported before the open on July 23. EXPECTATIONS: Time Warner is expected to report EPS of $1.03 on revenue of $6.9B, CBS is expected to report EPS of 73c on revenue of $3.22B, Viacom is expected to report EPS of $1.47 on revenue of $3.22B, and 21st Century Fox is expected to report EPS of 37c on revenue of $6.48B. LAST QUARTER: CBS, Time Warner, and Fox all reported stronger than expected Q1 results, while Viacom reported higher than expected Q2 EPS but missed on revenue. THIS WEEK'S EARNINGS: On the morning of July 23, Comcast reported Q2 EPS of 84c in line with estimates, and revenue of $18.7B versus expectations for $18.14B. Cable customer relationships for the quarter were up 31,000 to 27.3M, driven by increases in double and triple product relationships. During a subsequent conference call, the company noted that TV viewership continues to be under pressure. NEWS: At Re/code's Code Conference on May 27, CBS CEO Leslie Moonves remarked that his network will "probably" sign up for Apple's (AAPL) rumored TV service, and on June 3, CBS announced that its Showtime network will be offered over the internet as a stand-alone streaming service launching in early July for a monthly price of $10.99, with Apple as its first partner. On July 1, Variety quoted sources as saying Viacom was attempting to entice advertisers by offering to construct social-media and digital extensions of traditional TV ad campaigns as the company seeks to move away from Nielsen-based advertising sales. On July 8, the Wall Street Journal reported that Viacom's Paramount Pictures reached an agreement with AMC (AMC) to accelerate the home release of movies, noting that the company hoped to implement the quickened schedule for all new releases beginning later in the year. On July 17, Re/code reported that Viacom held talks to acquire e-commerce and media company Thrillist Media, according to sources. On June 17, 21st Century Fox named James Murdoch as CEO, with founder and former chairman and CEO Rupert Murdoch appointed executive co-chairman alongside Lachlan Murdoch. The Telegraph reported on June 20 that Fox rejected offers for its stake in Sky (SKYAY) from Vodafone (VOD) and Vivendi (VIVHY), potentially signalling an interest in outright purchasing the rest of Sky, according to the report. More recently, the European Commission announced on July 23 that it delivered a statement of objections to Sky and various film studios owned by Comcast, Viacom, Fox, Time Warner, Disney (DIS), and Sony (SNE), discussing anti-trust concerns due to limitations on country-by-country availability of pay-TV services. STREET RESEARCH: On May 12, Pacific Crest said it believes Apple will launch its TV service before the end of the year, saying the move should benefit TV networks as well as Apple itself. On June 24, Brean Capital said Facebook's (FB) agreement with Time Warner to host premier episodes of certain upcoming shows was "a trend worth following," and possibly indicative of Facebook hosting additional TV content in the future. Also on June 24, FBR Capital contended that Netflix (NFLX) was on pace to have a larger 24-hour audience than all traditional broadcast networks, where ratings are seeing declines on average, according to the research firm. Those comments were followed by a July 10 note on Netflix from Morgan Stanley, saying the subscription streaming service was seeing higher time spent per day than any single broadcast network. Moving away from the Netflix factor, on July 10, JPMorgan said CBS shares looked "very attractive" following a recent selloff, though the company saw a downgrade on July 20 from Pivotal, which cited higher costs of capital among other factors. Finally, Citi upgraded Viacom on July 16 to Neutral, citing recent underperformance in the company's shares heading into earnings season.
July 23, 2015
15:29 EDTTAPDiageo drops nearly 5% following WSJ report of excess inventory shipments
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10:00 EDTENPHOn The Fly: Analyst Downgrade Summary
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09:30 EDTENPHEnphase Energy downgraded to Neutral from Buy at Dougherty
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07:22 EDTSSprint price target lowered to $3 from $4 at Jefferies
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06:46 EDTTWXLeBron James forms production partnership with Warner Bros., WSJ says
NBA superstar LeBron James is forming a production partnership with Time Warner's Warner Bros. Entertainment that spans movies, television, and digital content, the Wall Street Journal reports. Warner Bros. will have a partnership with SpringHill Entertainment, the production company founded by James and business partner Maverick Carter in 2013, the report says. Under the terms of the agreement, Warner Bros. and SpringHill will co-produce and co-own all projects they do together, the report says. Reference Link
05:59 EDTFOXA, TWXEU sends Statement of Objections to Sky, U.S. film studios
The European Commission has sent a Statement of Objections to Sky UK (SKYAY) and six major U.S. film studios: Disney (DIS), NBCUniversal (CMCSA), Paramount Pictures (VIA), Sony (SNE), Twentieth Century Fox (FOXA) and Warner Bros (TWX). The Commission takes the preliminary view that each of the six studios and Sky UK have bilaterally agreed to put in place contractual restrictions that prevent Sky UK from allowing EU consumers located elsewhere to access, via satellite or online, pay-TV services available in the UK and Ireland. Without these restrictions, Sky UK would be free to decide on commercial grounds whether to sell its pay-TV services to such consumers requesting access to its services, taking into account the regulatory framework including, as regards online pay-TV services, the relevant national copyright laws. If the Commission's preliminary position were to be confirmed, each of the companies would have breached EU competition rules prohibiting anti-competitive agreements. The sending of a Statement of Objections does not prejudge the outcome of the investigation. These antitrust investigations focus on contractual restrictions on passive sales outside the licensed territory in agreements between studios and broadcasters.
July 22, 2015
15:16 EDTTMUSFCC set to deny T-Mobile request for small carrier airwave help, Bloomberg says
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14:04 EDTTMUSFCC set to deny T-Mobile request for small carrier airwave help, Bloomberg says
12:27 EDTTWXTime Warner's HBO lands sports commentator Bill Simmons
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12:21 EDTTWXTime Warner's HBO announces multiyear deal with Bill Simmons
Bill Simmons left Disney's (DIS) ESPN earlier this year.
05:40 EDTTMUST-Mobile implied volatility of 34 at lower end of index mean range
July 20, 2015
10:00 EDTFOXAOn The Fly: Analyst Downgrade Summary
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06:25 EDTFOXA21st Century Fox downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded 21st Century Fox to Neutral and lowered its price target to $34 from $40. The firm sees uncertainty around FY16 earnings given increasing programming costs, further investments, and potential acquisitions, and has a mixed views on the company's OTT streaming position.
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