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News Breaks
February 5, 2013
13:37 EDTTWXEarnings Preview: Time Warner makes organizational changes ahead of Q4 report
Time Warner (TWX) is set to report Q4 earnings before the market opens on Wednesday, February 6, with a conference call scheduled for 10:30 am ET. Time Warner is a media and entertainment company that which owns HBO, CNN, Warner Bros., and Time Inc. among other media properties... EXPECTATIONS: Analysts are looking for EPS of $1.10 on revenue of $8.25B, according to First Call. The consensus range for EPS is $1.08-$1.12 on revenue of $7.94B-$8.89B... LAST QUARTER: Time Warner reported Q3 adjusted EPS of 86c against estimates for 82c on revenue of $6.8B on estimates for $6.9B. In its Q3 earnings release, Time Warner reaffirmed its FY12 business outlook, saying it expects full-year low double-digit EPS percentage growth off an FY11 adjusted EPS base of $2.89, with current consensus estimates for FY12 EPS at $3.21. In November, Time Warner named former NBC (CMCSA) Universal CEO Jeff Zucker president of CNN. In January, the Warner Bros. Television Group signed a licensing agreement with Netflix (NFLX) giving Netflix the rights to eight Time Warner shows. Late last month, Kevin Tsujihara was named CEO of Warner Bros., and Time Inc., which publishes Time magazine, laid off about 500 employees, or 6% of its staff... STREET RESEARCH: Street research has been muted on Time Warner this quarter, with Goldman upgrading its U.S. Media sector to Attractive from Neutral on January 22. A number of firms also upgraded their price targets on Time Warner, including Stifel Nicolaus to $56 from $51, and Lazard to $56 from $54, respectfully. Both firms kept Buy ratings on the company... PRICE ACTION: Shares of Time Warner have gained more than 16% since its Q3 earnings report. In afternoon trading ahead of tomorrow's Q4 earnings report, shares of Time Warner are trading down almost 0.5%.
News For TWX From The Last 14 Days
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February 26, 2015
10:15 EDTTWXTime Warner calls active on speculation of a large investor stake
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10:01 EDTTWXRumor: Time Warner active on speculation of a large investor stake
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February 25, 2015
11:47 EDTTWXAnalysts clash on DreamWorks following Q4 miss
The shares of animated film and television show maker DreamWorks (DWA) are rising, despite the weaker than expected results reported by the company last night. Two analysts offered very different views on the company's outlook following its results. BACKGROUND: DreamWorks last night reported a fourth quarter per share loss of ($3.08), versus analysts' consensus outlook for a ($3.01) per share loss. The company's revenue also came in below expectations. Excluding $210M in pre-tax charges associated with DreamWorks' restructuring plan, its loss was (75c) per share, the company stated. BEARISH TAKE: In a note to investors today, FBR Capital analyst Barton Crockett wrote that DreamWorks' results were "ugly," as they included $155M of write-offs on films and TV shows. However, Crockett believes that the crucial factor for the company's outlook is whether it can consistently compete with the entertainment giants, including Disney (DIS), Viacom (VIA), and Time Warner (TWX). Crockett is not convinced that DreamWorks will be able to hold its own, and he believes that its 2015 results could come in below expectations. The analyst warned that the company may have difficulty meeting its 2015 consumer products revenue guidance. DreamWorks expects its consumer products revenue to double this year, but the movie-based toy space is "very competitive" in 2015, as toys based on multiple popular children's films are set to be released, Crockett stated. Moreover, after conducting checks online, Crockett reports that there does not seem to be a great deal of interest in DreamWorks' movie "Home," which is set to be released on March 27. He kept an Underperform rating on the shares and raised his price target on the stock to $14 from $12. BULLISH TAKE: DreamWorks' results were mixed, but the results are not very important, Piper Jaffray analyst James Marsh stated. The company's guidance for its TV and consumer products businesses were solid, the analyst believes. Moreover, the company "took specific and decisive action" to avert a liquidity crunch, Marsh wrote. Specifically, DreamWorks raised $185M of capital by selling its real estate in Glendale, California and then leasing it back, and increased the size of its current credit facility to $450M from $400M, Marsh reported. The moves should "largely" eliminate investors' worries about the company's liquidity position, Marsh stated. He kept a $26 price target and Overweight rating on the stock. WHAT'S NOTABLE: On DreamWorks' earnings conference call last night, the company's CEO Jeffrey Katzenberg stated that it did not obtain more than 10% of its revenue from Netflix (NFLX) last year. However, in an SEC filing earlier this morning, DreamWorks clarified that it had obtained 14.9% of its revenue from Netflix last year. PRICE ACTION: In late morning trading, DreamWorks rose 5.6% to $22.31.
February 24, 2015
06:10 EDTTWXSalem Media Group, CNN to team up for three GOP presidential primary debates
February 23, 2015
11:35 EDTTWXAmazon picks Benson to head advertising for original TV series, Variety says
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07:38 EDTTWXComcast, AT&T deals could be delayed by document access case, WSJ says
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February 19, 2015
08:15 EDTTWXWarner Bros. exec says not in talks with Apple on streaming, Re/code reports
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07:25 EDTTWXCable nets speed up shows to add more ads, WSJ says
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February 17, 2015
13:18 EDTTWXOmega Advisors gives quarterly update on stakes
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