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Stock Market & Financial Investment News

News Breaks
December 6, 2012
13:32 EDTGCI, TWX, NWSA, AOL, NYTClouding files patent infringement suits against CNN, NYT, others, Deadline says
Patent owner Clouding has slapped patent infringement lawsuits on Time Warner's (TWX) CNN and Time, News Corp. (NWSA), New York Times (NYT), Reuters, Gannett (GCI) and AOL's (AOL) Huffington Post, reports Deadline. Clouding says the media organizations infringed on two of their patents on mobile phone apps and websites. Reference Link
News For TWX;NYT;NWSA;GCI;AOL From The Last 14 Days
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February 4, 2016
16:08 EDTNWSANews Corp. reports Q2 adjusted EPS 20c, consensus 21c
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14:35 EDTNWSANotable companies reporting after market close
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08:34 EDTNYTNew York Times sees FY16 CapEx roughly $45M
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08:34 EDTNYTNew York Times sees Q1 circulation revenues to increase from 4Q15
Total advertising revenues in the first quarter of 2016 are expected to decrease between 2%-4% compared with the first quarter of 2015. Operating costs and adjusted operating costs are each expected to increase in low-single digits the first quarter of 2016 compared with the first quarter of 2015.
08:32 EDTNYTNew York Times reports Q4 adjusted EPS 37c, consensus 30c
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07:06 EDTNYTWaste Management to hold a forum
2016 Executive Sustainability Forum is being held in Scottsdale, AZ on February 4.
06:28 EDTNWSANews Corp not interested in Yahoo acquisition, Business Insider says
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February 3, 2016
05:49 EDTTWXTime Warner board adopts amendments to by-laws
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February 2, 2016
18:39 EDTTWXAlibaba leads $794M funding round for augmented reality firm Magic Leap
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15:46 EDTTWXEarnings Watch: Media networks report amid shifts in streaming, TV landscape
Comcast (CMCSA), CBS (CBS), Time Warner (TWX), Viacom (VIA), and 21st Century Fox (FOX) are among media companies expected to report quarterly results over the next several weeks. EXPECTATIONS: Comcast is expected to report EPS of 82c on revenue of $18.77B, CBS is expected to report EPS of 93c, Time Warner is expected to report EPS of $1.00 on revenue of $7.53B, Viacom is expected to report EPS of $1.18 on revenue of $3.26B, and Fox is expected to report EPS of 44c on revenue of $7.54B. LAST QUARTER: Comcast, Fox, and viacom reported mixed results for the previous quarter, while CBS and Time Warner beat on both top and bottom lines. NEWS: On November 10, Comcast announced it expanded its advanced fiber network to Modesto, California as part of the company's ongoing response to Google (GOOG) Fiber. On November 12, the Wall Street Journal broke news that Hulu, a video streaming joint venture of Disney (DIS), Comcast and Fox, is in talks to sell a stake to Time Warner, though the Journal said on January 31 that the company has expressed dissatisfaction with Hulu's inclusion of current-season TV episodes, which it believes contributes to cord-cutting. On December 2, the Wall Street Journal reported that YouTube was holding talks with Hollywood studios and production companies to seek content licenses amid intensified competition with Netflix (NFLX), Amazon (AMZN), and Hulu. On December 9, Re/code reported that Apple (AAPL), rumored to be working on a subscription TV service, walked away from its negotiations with the major networks after being pressed to include "filler" channels in its hypothetical service. Speaking at a January 7 media conference, Time Warner CFO Howard Averill said the company was negotiating to make full seasons of TV shows available to pay-TV customers on demand, mirroring the "binge watching" offered by Netflix. On January 8, the New York Post reported that Corvex Management was considering an activist position in Time Warner. That same day, Benzinga reported that Twenty-First Century Fox remained interested in the company and had made a $105 per share acquisition offer, though Fox later denied the report. On January 14, the New York Post reported that Comcast has begun "ripping up" agreements with cable networks, moving them from basic cable onto digital tiers in response to consumer demand for smaller bundles. On January 27, Reuters reported that SpringOwl Asset Management is urging Viacom to seek outside investment from strategic partners. On January 30, the New York Post reported that Nelson Peltz is considering an activist position in Time Warner. On February 1, the National Football League announced a broadcasting agreement with CBS and Comcast's NBC which will see the two companies paying roughly $225M each for rights to the next two seasons of Thursday Night Football. Also on February 1, it was reported that Fox offered certain employees voluntary buyouts as part of a $250M cost cutting target. STREET RESEARCH: On November 5, Wells Fargo analyst Marci Ryvicker downgraded Time Warner to Market Perform after its "huge" guidance cut last quarter, with the shares also seeing downgrades at CLSA and Bank of America Merrill Lynch. On December 22, Morgan Stanley analyst Benjamin Swinburne called Comcast one of his top large cap picks for 2016, saying the company can use skinny bundles to take market share and potentially add net video customers for the first time since 2006. On January 8, research firm Stifel cut its price target on CBS to $54 from $66, citing a belief that industry syndication and SVOD revenues will significantly decelerate going forward, with CBS having more exposure to those areas than its peers. Meanwhile, JPMorgan added the company to its U.S. focus list on January 11, citing its heavily discounted stock and potentially strong EPS growth in 2016. On February 1, Pacific Crest argued that Comcast shares should be owned going into fourth quarter results, contending that the company's video and broadband investments will likely translate to increased market share and strong cash flows this year. PRICE ACTION: Comcast and Fox, the first of the media giants to report quarterly earnings, are down 2% and 3.6%, respectively, amid the broader market selloff.
09:04 EDTTWXTime Warner worth more without break-up, says Credit Suisse
Credit Suisse analyst Omar Sheikh said Time Warner's can deliver more value for shareholders over the long-term with its current structure and strategy than it could with a potential break-up of the company. Time Warner is worth $79-$89 in a break-up, given bond redemption penalties and loss of synergies and scale, the analyst said. Sheikh expects the importance of scale for content companies to only increase in the future, as digital competitors spend more on exclusive content and thinks Time Warner can grow EBITDA by 25% and net income by a third over the next three years. The analyst has an Outperform rating and $90 price target on Time Warner shares.
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.
08:20 EDTNWSATwitter jumps after The Information breaks potential deal
Shares of Twitter (TWTR) are rising in pre-market trading after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen and have "considered some sort of deal" for the microblog service operator. WHAT'S NOTABLE: Lessin said in her report published on her site, The Information, that she did not know if deal considerations are "active" now with Andreessen and private equity firm Silver Lake. Silver Lake calls itself "the global leader in technology investing," stating that it has over $26B in combined assets under management. FREQUENT SPECULATION TARGET: Twitter has often been the subject of takeover rumors in the past year. Last April, Re/code's Kurt Wagner reported that Google (GOOG) and Facebook (FB) had looked at a potential acquisition of Twitter in the past, but noted at that time that neither tech giant was in discussions to acquire the social network owner. On January 20, News Corp. (NWSA) declined comment to CNBC regarding speculation about its potential interest in acquiring Twitter. Speculation also circulated the same day regarding an activist investor taking an interest in Twitter, trading sources told The Fly. PRICE ACTION: In pre-market trading near 8:15 am ET, Twitter rose 7% to $18 per share.
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 29, 2016
06:14 EDTNWSASky names James Murdoch chairman, WSJ reports
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January 28, 2016
06:30 EDTNWSAYahoo starts restructuring with 'invest/maintain/kill' list, Re/code reports
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January 26, 2016
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
11:41 EDTNWSAStifel downgrades Twitter as firm can't see positive spin for executive exits
Twitter (TWTR) is falling after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. EXECUTIVE EXODUS: The four executives leaving the company are Twitter's head of product, Kevin Weil, head of media, Katie Stanton, head of engineering, Alex Roetter, and head of human resources, Brian "Skip" Schipper. CEO Jack Dorsey confirmed the departures in a tweet, saying, "Want to set the record straight now: Given the inaccurate press rumors today regarding their departures, I'm addressing this now: I'm sad to announce that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil have chosen to leave the company... COO Adam Bain will be taking on additional responsibilities, including responsibility for the revenue-related product teams, the media team and the HR team on an interim basis. CTO Adam Messinger will be taking over all of engineering and consumer product, design and research, user services and Fabric into one group." Note that due to Twitter's 140 character limit, Dorsey was forced to post his lengthy message in the form of an image of the text. OTHER EXECUTIVE NEWS: Twitter could name Leslie Berland, currently an executive VP at American Express (AXP), as its new Chief Marketing Officer reporting directly to Dorsey, this week, according to Re/code's Kara Swisher. Additionally, the Wall Street Journal noted that Twitter intends, as part of its shake-up. to bring in two new members to its board as soon as this week. At least one of the people is a high-ranking executive in the media industry, the Journal added. STIFEL DOWNGRADE: Twitter was downgraded to Hold from Buy by Stifel analyst Scott Devitt on Sunday. Devitt cited the executive departures, saying, "While we may not be the sharpest tools in the shed, we don't see how the departure of the heads of three major business divisions can be viewed as a positive in the middle of an attempted business turnaround." PRICE ACTION: In late morning trading, Twitter shares were down almost 4% to $17.15. Note this decline follows a rise of more than 4% late last week on rumors that News Corp. (NWS, NWSA) and other companies were interested in acquiring Twitter. News Corp. later denied it was building a Twitter stake.
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