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Stock Market & Financial Investment News

News Breaks
February 4, 2014
14:19 EDTTWXEarnings Preview: Time Warner set for Q4 earnings as Time Inc. spin-off looms
Time Warner (TWX) is set to report fourth quarter earnings before the market opens on Wednesday, February 5, with a conference call scheduled for 10:30 am ET. Time Warner, a media and entertainment company, owns HBO, CNN, and Warner Bros., among other properties. Time Warner has announced that it plans to spin off its publishing unit, Time Inc., into a separate, publicly traded company by the second quarter of this year. EXPECTATIONS: Analysts are looking for earnings per share of $1.15 on revenue of $8.39B, according to First Call. The consensus range for EPS is $1.12-$1.18 on revenue of $8.21B-$8.66B. With its Q3 earnings release, Time Warner affirmed its FY13 outlook, saying it sees EPS growth in the mid-teens off a base of $3.24. The consensus estimate for FY13 EPS is currently $3.75. On its Q3 earnings conference call, Time Warner said it sees Q4 adjusted EPS flat against the prior year. LAST QUARTER: Time Warner reported Q3 adjusted EPS of $1.01 against estimates for 89c on revenue of $6.86B against estimates for $6.94B. Time Warner, which announced plans to spin-off of its Time Inc. publishing assets last March, said it expects to complete its divestiture in Q2. A report in Reuters earlier today said Time Inc. plans to restructure its operations, including eliminating 500 positions globally, in preparation of its spin-off. A December report from Capital New York said that CNN CEO Jeff Zucker is planning "massive changes" at the network, including more series and films in lieu of "obvious" news coverage. A Financial Times on January 23 said 40 senior journalists from CNN were let go as part of this reorganization under Zucker. STREET RESEARCH: Wall Street research has been relatively quiet on Time Warner during the quarter. In early December, analysts at Guggenheim downgraded Time Warner to Neutral from Buy, lowering their price target on shares to $73 from $80. Later that same month, Wells Fargo said Time Warner's risk/reward is positive, with the firm saying it does not believe the spin-off of Time Inc. is priced in, saying it sees its $73-$75 price target on shares as conservative. Shares of Time Warner are Outperform rated at Wells Fargo. In a note to investors earlier this month, analysts at Argus said the coming spin-off of Time Inc. could be transformative for Time Warner. PRICE ACTION: Shares of Time Warner, which gained more than 46% in 2013, are down over 10% year-to-date. In afternoon trading ahead of its Q4 report, shares of Time Warner are up 1.1%.
News For TWX From The Last 14 Days
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January 25, 2015
13:26 EDTTWXWarner Bros.' 'American Sniper' keeps top spot at box office, WSJ says
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January 22, 2015
15:29 EDTTWXTime Warner names Mitchell Klaif as Chief Information Officer
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January 21, 2015
07:34 EDTTWXNetflix CEO sees room for competition in video streaming market, CNet says
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06:17 EDTTWXOverstock to introduce streaming-video service later this year, WSJ reports
Overstock.com (OSTK) is planning to launch a streaming-video service later this year, CEO Patrick Byrne announced at the National Association of Television Program Executives conference, The Wall Street Journal reports. Overstock would compete in the space with Amazon (AMZN), Hulu (DIS, CMCSA, CMCSK, FOXA), Netflix (NFLX), and Time Warner's (TWX) HBO is also planning a standalone online streaming service that will launch this year. The new Overstock service would be tied to the company's $20-per-year Club O membership program and will launch with about 30,000 titles. Reference Link
January 20, 2015
17:46 EDTTWXNetflix says 'looking good' to reach 60M-90M U.S. subscriptions
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14:06 EDTTWXCitizens, Keysight identified as long positions by Einhorn
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13:24 EDTTWXGreenlight has new long positions in Citizens, Time Warner, Bloomberg says
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07:35 EDTTWXTime Warner downgraded at Morgan Stanley
As previously reported, Morgan Stanley downgraded Time Warner to Equal Weight from Overweight. The firm downgraded shares based on balanced risk/reward, and downside risk from affiliate fee growth and TV advertising. Price target lowered to $85 from $90.
06:29 EDTTWXTime Warner downgraded to Equal Weight from Overweight at Morgan Stanley
January 18, 2015
16:46 EDTTWXWarner Bros.' 'American Sniper' takes top spot with $90.2M at box office
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January 16, 2015
10:01 EDTTWXOn The Fly: Analyst Downgrade Summary
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January 15, 2015
16:23 EDTTWXTime Warner downgraded to Hold from Buy at Stifel
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January 13, 2015
06:28 EDTTWXCNN reaches deal with FAA to study use of drones in reporting, WSJ reports
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January 12, 2015
09:15 EDTTWX'Taken' seqeul knocks 'Hobbit' from top spot at box office, WSJ reports
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09:04 EDTTWXAmazon wins first Golden Globe for 'Transparent,' Business Insider reports
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