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Stock Market & Financial Investment News

News Breaks
March 14, 2013
10:29 EDTMDP, TWXTime Inc. may be buyer or target after spin-off, Bloomberg says
Following its spin-off from Time Warner (TWX), Time Inc. will have an estimated enterprise value of about $3.9B, making it the biggest publicly traded company focused on magazine publishing, according to Bloomberg's "Real M&A" column. Time Inc. may become a private-equity target or it could turn the tables on Meredith Corp. (MDP) and try to acquire the smaller company which previously tried to buy it, the report suggested, citing analysts. Reference Link
News For TWX;MDP From The Last 14 Days
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February 2, 2016
08:04 EDTMDPMeredith increases dividend 8.2% to $1.98
The Meredith Board of Directors on Saturday increased its regular dividend 8.2% to $1.98 on an annualized basis, an increase of 15c per share. The next dividend will be 49.50c per share and is payable on March 15 to shareholders of record on February 29.
February 1, 2016
16:21 EDTTWXOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, beginning February the way they spent most of January, weighed down by the price of oil, which fell about 6% for the session. Also hitting the market early were weak economic reports, both in China and the U.S. The averages moved higher late in the day as investors awaited the next barrage of earnings reports, which will include results from Google parent Alphabet (GOOG). ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. Separately, Federal Reserve Vice Chairman Stanley Fischer spoke about recent monetary policy decisions undertaken by the Fed, reiterating expectations that "economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate," while also revealing that four rate hikes is among the numbers being discussed by the Federal Reserve for this year. In China, the government's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: After swinging as high as $18.77, shares of Twitter (TWTR) ended the day up 6.55% at $17.90 after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator, though Lessin noted she didn't know if deal talks are currently active. Later in the day, a source familiar with the matter told Fortune that Silver Lake has no interest in acquiring "even a slice" of Twitter... Alere (ALR) surged 45.5% to $54.11 after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other M&A news, Questar (STR) jumped 22.5% to $24.99 after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B. Dominion slipped 2.76% after announcing the deal and reporting its latest quarterly results... Chipotle (CMG) rose 4.3% to $472.64 after the Centers for Disease Control and Prevention released its final update on the company's E. coli scare, saying the two outbreaks "appear to be over." MAJOR MOVERS: Among the notable gainers were Sysco (SYY) and Aetna (AET), which advanced 8.4% and 1.4%, respectively, after reporting quarterly earnings. Also higher was Barracuda Networks (CUDA), which jumped about 11% to $11.75 after Bloomberg reported the company is exploring a sale. In addition, Time Warner (TWX) gained 2.7% after the New York Post reported over the weekend that billionaire investor Nelson Peltz is considering taking an activist position in the company. Among the noteworthy losers was GoPro (GPRO), which declined 3.4% to $11.06 after analysts from Piper Jaffray and Citi predicted that the company's guidance this week will disappoint investors. Also lower was DreamWorks (DWA), which fell 6.8% to $23.90 after the studio's new film "Kung Fu Panda 3" missed expectations for its domestic box office opening. Meanwhile, Roper Technologies (ROP) and Cardinal Health (CAH) lost a respective 6.8% and 1.9% after reporting quarterly earnings. INDEXES: The Dow slipped 17.12, or 0.1%, to 16,449.18, the Nasdaq gained 6.41, or 0.14%, to 4,620.37, and the S&P 500 fell 0.86, or 0.04%, to 1,939.38.
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 EDTTWXTime 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
16:31 EDTTWXNelson Peltz considering activist position in Time Warner, NY Post says
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January 28, 2016
07:25 EDTMDPMeredith likely to be range bound for a few quarters, says Wells Fargo
After Meredith (MDP) and Media General (MEG) terminated their merger, Wells Fargo expects Meredith's stock to be range bound for a few quarters, since it believes that no M&A deals in the broadcast sector will take place until the spectrum auction is over 6-9 months from now. Wells says that Meredith's magazines business continues to weaken its results, and it keeps a Market Perform rating on the shares.
January 27, 2016
09:06 EDTMDPMeredith sees Q3 EPS 77c-82c, consensus 80c
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09:05 EDTMDPMeredith raises FY16 EPS to $3.05-$3.25 from $2.90-$3.25, consensus $3.10
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09:04 EDTMDPMeredith recorded $29M in incremental political advertising revenue in Q2
Reports Q2 National Media Group operating profit grew nearly 30% on 10% revenue growth. Reports Q2 Local Media Group non-political advertising revenues grew nearly 10% to $104M. Reports Q2 total company digital advertising revenues grew more than 15M.
09:03 EDTMDPMeredith reports Q2 EPS excluding items 80c, consensus 78c
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08:48 EDTMDPMeredith and Media General agree to terminate merger agreement
Meredith Corporation (MDP) and Media General (MEG) said they have agreed to terminate immediately the binding merger agreement they entered into on September 8, 2015. In exchange for terminating the merger agreement, Meredith will receive: $60M in cash payable immediately, and an opportunity to negotiate for the purchase of certain broadcast and digital assets currently owned by Media General. There is no assurance that Media General and Meredith will reach agreement with respect to a purchase of any broadcast and digital assets, any such transaction being subject to approval of Nexstar Broadcasting (NXST) under Media General's merger agreement with Nexstar. Meredith Chairman and CEO Stephen Lacy commented, "While we still believe in the strategic and financial benefits a merger with Media General would have created, we are pleased with the financial benefits of the termination agreement and the shareholder value created." Media General CEO Vincent Saduskey said, "We are pleased to have this matter behind us and look forward to working towards completion of our transaction with Nexstar, which we believe is in the best interest of Media General and delivers superior value to our shareholders."
08:48 EDTMDPNexstar enters into definitive agreement to acquire Media General for $4.6B
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08:46 EDTMDPMeredith and Media General agree to terminate merger agreement
08:46 EDTMDPNexstar to acquire Media General for $4.6B
January 26, 2016
11:50 EDTMDPMeredith near deal to end Media General pact, allow Nexstar deal, Bloomberg says
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11:22 EDTMDPMeredith close to allowing Media General, Nexstar deal, Bloomberg reports
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10:18 EDTMDPMeredith announces brand licensing agreement with Apparel Bridge
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10:02 EDTMDPMeredith, Bellisio Foods sign brand licensing agreement for EatingWell
Meredith Corporation has agreed to a multi-year licensing partnership with Bellisio Foods for the EatingWell brand. This is Meredith Brand Licensing's first expansion into the retail consumable food category.EatingWell frozen products will be available for consumer purchase at supermarkets and retail grocery stores nationwide beginning in fall 2016. At launch, the EatingWell product line will focus on single-serve frozen entrees. Meredith and Bellisio Foods anticipate future food expansion into products such as multi-serve meals, appetizers, sides, snacks, vegetables, breakfast items, desserts and breads. Meredith and Bellisio are collaborating on the selection and development of recipes.
08:26 EDTTWXTwitter 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 25, 2016
19:35 EDTMDPNexstar nearing $2.3B deal for Media General, NY Post says
Nexstar (NXST) is preparing to sign within days a $2.3B agreement to acquire Media General (MEG), reports the New York Post, citing sources. Following its announcement, the deal is expected to be placed on hold because Media General has already agreed to a merger with Meredith (MDP), but Media hopes the deal will pressure Meredith to settle the termination fee related to the agreement, sources told the publication. Reference Link
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