|August 6, 2014|
|11:08 EDT||TWX||Time Warner sees FY programming costs up in the high single digits|
Says share repurchases a very attractive use of capital. Says will host investor event this fall to lay out growth plans. Sees growth coming from new Turner affiliate fee deals, HBO content. Says plans to monetize global kids business. Says scatter pricing "healthy," volume "modest" into Q3. Sees total advertising flat to down low single digits in Q3. Sees "somewhat higher" programming cost growth in 2H, sees FY programming costs up in the high single digits. Says outlook for TV business "very strong." Cash priorities include maintaining strong balance sheet, M&A opportunities, share repurchases. Sees incurring restructuring charges, programming impairments at Turner in 2H. Sees HBO's operating income "relatively flat" in 2H.
News For TWX From The Last 14 Days
|October 9, 2015|
|08:20 EDT||TWX||Top quality video content to outperform, says Pacific Crest|
Pacific Crest predicts that companies with top quality video content will outperform, taking share from those with mid-range content. It identifies this trend as positive for Netflix, AMC Networks (AMCX), Time Warner (TWX), Disney (DIS), CBS (CBS), and 21st Century Fox (FOXA). According to the firm, this trend is negative for Viacom (VIAB), Scripps Networks (SNI), Discovery (DISCA), and Comcast (CMCSA)
|October 5, 2015|
|10:00 EDT||TWX||On The Fly: Analyst Downgrade Summary |
Today's noteworthy downgrades include: AK Steel (AKS) downgraded to Hold from Buy at Deutsche Bank... Applied Materials (AMAT) downgraded to Underperform from Sector Perform at RBC Capital... BRF S.A. (BRFS) downgraded to Sell from Neutral at Goldman... BancorpSouth (BXS) downgraded to Market Perform from Outperform at Raymond James... CSI Compressco (CCLP) downgraded to Outperform from Strong Buy at Raymond James... Cal-Maine Foods (CALM) downgraded to Hold from Buy at BB&T... Century Aluminum (CENX) downgraded to Hold from Buy at Deutsche Bank... Chesapeake Lodging (CHSP) downgraded to Sector Weight from Overweight at KeyBanc... Chimerix (CMRX) downgraded to Equal Weight from Overweight at Morgan Stanley... Colfax (CFX) downgraded to Underweight from Equal Weight at Barclays... Cytec Industries (CYT) downgraded to Neutral from Buy at Sterne Agee CRT... DiamondRock (DRH) downgraded to Sector Weight from Overweight at KeyBanc... DineEquity (DIN) downgraded to Sector Weight from Overweight at KeyBanc... East West Bancorp (EWBC) downgraded to Market Perform from Outperform at Raymond James... Eaton (ETN) downgraded to Equal Weight from Overweight at Barclays... FireEye (FEYE) downgraded to Neutral from Overweight at Piper Jaffray... First Defiance Financial (FDEF) downgraded to Market Perform at Raymond James... Freeport McMoRan (FCX) downgraded to Hold from Buy at Deutsche Bank... Hi-Crush Partners (HCLP) downgraded to Market Perform from Outperform at Raymond James... Lam Research (LRCX) downgraded to Underperform from Sector Perform at RBC Capital... Macy's (M) downgraded to Neutral from Buy at Cleveland Research... Mid-America Apartment (MAA) downgraded to Neutral from Outperform at Baird... Norfolk Southern (NSC) downgraded to Underweight from Equal Weight at Barclays... Rexnord (RXN) downgraded to Equal Weight from Overweight at Barclays... Rockwell Automation (ROK) downgraded to Equal Weight from Overweight at Barclays... Scripps Networks (SNI) downgraded to Sell from Neutral at Goldman... ServisFirst (SFBS) downgraded to Outperform from Strong Buy at Raymond James... Strategic Hotels (BEE) downgraded to Sector Perform from Outperform at RBC Capital... Time Warner (TWX) downgraded to Buy from Conviction Buy at Goldman... Tyco (TYC) downgraded to Equal Weight from Overweight at Barclays... Union Pacific (UNP) downgraded to Equal Weight from Overweight at Barclays... Viacom (VIAB) downgraded to Neutral from Buy at Goldman.
|08:10 EDT||TWX||Time Warner downgraded to Buy from Conviction Buy at Goldman|
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|October 4, 2015|
|17:39 EDT||TWX||'The Martian' soars in box office debut|
Science fiction film "The Martian" rocketed to the top of the box office amid widespread critical acclaim. WEEKEND LEADER: Fox's (FOX, FOXA) "The Martian" grossed $55M in its domestic open for the weekend of October 4, beating expectations for $40M-$50M and nearly setting a record for October debuts. Director Ridley Scott's return to science fiction after 1979's "Alien" and the more recent "Prometheus" was applauded by critics and audiences alike, with "Martian" garnering a 94% approval rating on review aggregator Rotten Tomatoes. BOX OFFICE RUNNERS-UP: Sony's (SNE) "Hotel Transylvania 2" stepped down to second place with $33M after last weekend's strong open, while Lionsgate's (LGF) drug cartel thriller "Sicario" earned $12.1M after expanding nationwide, outpacing expectations for $8M-$10M. Rounding out this weekend's Top 5, Time Warner (TWX) subsidiary Warner Bros.' "The Intern" and Fox's "Maze Runner: The Scorch Trials" took in a respective $11.6M and $7.7M.
|October 2, 2015|
|12:43 EDT||TWX||Fly Watch: 'The Martian' expected to win weekend box office |
Fox's (FOX, FOXA) "The Martian," based on the best selling science fiction novel by Andy Weir and starring Matt Damon, is expected to win this weekend's box office with an opening of between $40M-$50M. Sony's (SNE) animated sequel "'Hotel Transylvania 2," which set a record last weekend for a September opening with a $48.5M debut, is estimated to gross in the range of $29M-$31.5M in its second week. Lions Gate's (LGF) drug cartel drama "Sicario," which opened two weeks ago in six theaters and expanded to 59 theaters last week, is expected to take in $8M-$10M in its first weekend expanding nationwide, now playing in about 2,500 theaters. Time Warner (TWX) subsidiary Warner Bros.' comedy "The Intern," starring Robert DeNiro and Anne Hathaway, is estimated to bring in $8.5M-$8.9M in its second weekend. Fox's "Maze Runner: The Scorch Trials" is expected to earn an estimated $7.8M in its third weekend of release. Also new in theaters is Sony subsidiary TriStar's "The Walk," starring Joseph Gordon-Levitt, which opened Wednesday exclusively on 448 IMAX (IMAX) and large-format screens, and is expected to earn $3M through the weekend.
|06:59 EDT||TWX||HBO had talks with Zack Snyder about 'Watchmen' series, Deadline reports|
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|October 1, 2015|
|12:57 EDT||TWX||Options with increasing put volume|
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|September 27, 2015|
|19:39 EDT||TWX||'Hotel Transylvania 2' bites down in record-setting debut|
Animated children's film "Hotel Transylvania 2" set a domestic record for September while "Maze Runner" and "Black Mass" dropped in their second weekends at the box office. WEEKEND LEADER: Sony's (SNE) computer animated comedy "Hotel Transylvania 2" grossed $47.5M during its domestic open for the weekend of September 27, beating expectations for $35M-$40M and setting a new record for September box office debuts. Adam Sandler, Selena Gomez, and others returned to provide voice acting for the monster-themed movie, which saw the biggest open yet for Sony Pictures Animation. BOX OFFICE RUNNERS-UP: With Robert DeNiro and Anne Hathaway in leading roles, Time Warner (TWX) subsidiary Warner Bros.' "The Intern" opened at $18.2M against estimates sales of $15M-$20M. Fox's (FOX, FOXA) "Maze Runner: The Scorch Trials" came in third with $14M after grossing $30.3M domestically during last weekend's debut. Meanwhile, Comcast (CMCSA, CMCSK) subsidiary Universal's "Everest" jumped to $13.1M after significantly expanding its screen count, while Warner Bros.' "Black Mass" rounded out this weekend's Top 5 at $11.5M.
|September 25, 2015|
|13:17 EDT||TWX||Fly Watch: 'Hotel Transylvania 2' expected to top weekend box office |
Sony's (SNE) animated sequel "'Hotel Transylvania 2," which is opening in 3,600 theaters, is expected to win this weekend's box office with a domestic gross of $35M-$40M. The next bunch of films are all expecting similar grosses in the mid-to-high teens. Time Warner (TWX) subsidiary Warner Bros.' comedy "The Intern," starring Robert DeNiro and Anne Hathaway, is estimated to open in the $15M-$20M range in 3,305 theaters. Comcast (CMCSA, CMCSK) subsidiary Universal's "Everest," which opened last weekend on IMAX (IMAX), is expanding to over 3,000 theaters this weekend and is estimated to gross in the range of $15M-$17M. Fox's (FOX, FOXA) "Maze Runner: The Scorch Trials," which grossed $30.3M domestically for the weekend of September 20, is expected to earn an estimated $16M in its second weekend of release. Warner Bros.' Whitey Bulger biopic "Black Mass," which took in $23.4M in its domestic opening last weekend, is expected to gross $12.5M-$13M this weekend. Additionally, Lions Gate's (LGF) drug cartel drama "Sicario" is playing in about 50 theaters ahead of the film's wide release on October 2.
|10:48 EDT||TWX||Morgan Stanley cautious on media, but sees several stocks punished too hard|
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.