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Stock Market & Financial Investment News

News Breaks
April 8, 2014
10:23 EDTVIAB, CMCSK, OHRP, SA, AERHigh option volume stocks: VIAB CMCSK OHRP SA AER
News For VIAB;CMCSK;OHRP;SA;AER From The Last 14 Days
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October 23, 2014
07:53 EDTVIABAlibaba CEO ups Hollywood content pursuit with studio meetings, Bloomberg says
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07:03 EDTCMCSKComcast says video customer net losses declined to 81,000 in Q3
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07:01 EDTCMCSKComcast reports Q3 adjusted EPS 73c, consensus 71c
Reports Q3 revenue $16.8B, consensus $16.82B.
October 22, 2014
13:06 EDTCMCSKEarnings Preview: Comcast reporting Q3 results as Time Warner deal progressing
Comcast (CMCSA, CMCSK) is set to report third quarter earnings before the market open on Thursday, October 23, with a conference call scheduled for 8:30 am ET. Comcast is a diversified media company that operates the NBC family of networks and Universal Pictures, among other cable, internet, and voice services. On February 13, Comcast announced plans to merge with Time Warner Cable (TWC) in a deal valued at $45.2B. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $16.82B, according to First Call. The consensus range for EPS is 64c-76c on revenue of $16.5B-$17.17B. LAST QUARTER: Comcast reported second quarter EPS of 75c against estimates for 72c, on revenue of $16.84B against estimates for $16.95B. TIME WARNER CABLE DEAL: On August 17, The Wall Street Journal reported that the Federal Communications Commission said that one issue it must decide as it reviewed the proposed acquisition of Time Warner Cable is whether to allow Comcast to continue Time Warner Cable's arrangement to handle programming and technology acquisitions for cable operator Bright House Networks. On August 26, Engadget reported that Netflix (NFLX) filed a formal protest against the Time Warner Cable deal, saying that the merger would result in "serious public interest harm" and that a combined cable giant would have a huge amount of leverage over it and rivals such as Hulu. Hulu is a joint venture owned by Comcast along with Disney (DIS) and 21st Century Fox (FOX,FOXA). The New York Post reported on September 8 that Discovery (DISCA) believed Comcast's takeover of Time Warner Cable would give the merged entity an unfair advantage over programmers. That same day, Reuters said a proxy statement detailed that Time Warner Cable employees would split $416M if the merger deal with Comcast did not transpire. At the Goldman Sachs Communacopia Conference on September 10, Comcast said that it has made "a lot of progress" on the shareholder approval process for the Time Warner Cable deal, but expected the agreement to be finalized in early fiscal year 2015 versus the previous guidance of late 2014. The company expects the Time Warner Cable merger to generate $1.5B in operating expense synergies. On September 16, Comcast said at the Media, Communications and Entertainment Conference that it would reveal its capital plan at the close of the Time Warner Cable deal and noted at that time that "everything was on track" regarding the merger. The Wall Street Journal reported on September 30 that the FCC pushed for media companies to submit details of their programming agreements with Comcast prior to the Time Warner Cable deal. The FCC announced three days later that it extended time for the companies to file their replies on Comcast regarding the merger. On October 8, Comcast Shareholders approved stock issuance for the Time Warner Cable deal and the next day, Time Warner Cable stockholders approved the Comcast merger deal. STREET RESEARCH: Analysts remained fairly quiet on Comcast throughout the quarter. On September 9, UBS raised its price target on Comcast to $72 from $60 given its strong underlying fundamentals and the expected free cash flow accretion from the Time Warner Cable deal. The firm also said it expected Comcast to accelerate its stock buyback and increase its dividend. UBS kept its Buy rating on the stock. On October 17, Goldman Sachs said that Comcast was its top large cap pick into the earnings report given steady fundamentals, moderated expectations, and valuation. The firm maintained the stock with a Buy rating and a $64 price target. PRICE ACTION: Since the first day of trade following its Q2 report on July 22, shares of Comcast are down about 3.5%. Since it announced its deal with Time Warner Cable on February 13, shares of the media company have fallen just under 6%. In late-morning trade ahead of tomorrow’s Q3 report, shares of Comcast are down fractionally.
October 20, 2014
07:25 EDTOHRPOhr Pharmaceutical announces positive data on OHR-102 IMPACT study
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October 16, 2014
10:01 EDTVIABOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.
08:21 EDTVIABViacom oversold on affiliate fee and ad fears, says Goldman
Goldman lowered Viacom estimates on a lower ad outlook but believes shares are oversold on affiliate fee and advertising fears. The firm views valuation as compelling against all metrics and expects comps to moderate in Q4 and ratings declines to moderate with new original programing and the current TV season. Shares are Buy rated with a $82 price target. Note BofA/Merrill and Guggenheim downgraded Viacom this morning.
08:12 EDTSASeabridge Gold reports additional drilling results at KSM Project in Canada
Seabridge Gold announced additional results from this year's drill program at its 100% owned KSM Project in northwestern British Columbia, Canada. Results from the Iron Cap Lower Zone continue to outline a major new gold-copper discovery beneath Iron Cap, one of KSM's four large porphyry deposits. Data from eight new holes and seven holes announced previously are expected to support an initial resource estimate for the Iron Cap Lower Zone scheduled for 1Q15.
07:56 EDTVIABViacom downgraded at BofA/Merrill
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07:45 EDTVIABViacom downgraded at Guggenheim
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07:17 EDTVIABViacom downgraded to Neutral from Buy at Guggenheim
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06:32 EDTVIABViacom downgraded to Underperform from Neutral at BofA/Merrill
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October 14, 2014
07:19 EDTOHRPOhr Pharmaceutical announces successful end of Phase II meeting with FDA
Ohr Pharmaceutical announced details of the planned pivotal Phase III registration trials for Squalamine Eye Drops, or OHR-102, in the treatment of wet age-related macular degeneration, or wet AMD. The trials are being designed based on guidance provided by the FDA at a recent "end of Phase II" meeting. The FDA has agreed with Ohr on a 9 month primary efficacy endpoint based on the proportion of patients achieving a greater than or equal to 3 line gain in visual acuity. In the interim analysis of the ongoing Phase II IMPACT study, more than twice the proportion of patients achieved greater than or equal to 3 line gains in visual acuity at 9 months with the combination of OHR-102 eye drops and Lucentis as compared to the Lucentis monotherapy group. Two identical Phase III studies will be performed. The company plans to initiate the Phase III trials in the first half of 2015 with the goal of submitting a New Drug Application following collection and analysis of the 9 month primary efficacy data.
October 13, 2014
06:32 EDTCMCSKUniversal receives approval to open $3.27B theme park in Beijing, WSJ reports
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