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Stock Market & Financial Investment News

News Breaks
January 30, 2013
13:07 EDTVIAEarnings Preview: Viacom trading near all-time highs ahead of Q1 earnings
Viacom (VIA, VIAB) is set to report Q1 earnings before the market open on Thursday, January 31, with a conference call scheduled for 8:30 am ET. Viacom is an entertainment content company that operates two primary segments: Media Networks and Filmed Entertainment, and owns MTV and Paramount Pictures, among other media brands... EXPECTATIONS: Analysts are looking for EPS of 90c on revenue of $3.49B, according to First Call. The consensus range for EPS is 87c-96c on revenue of $3.32B-$3.81B... LAST QUARTER: Viacom reported Q4 adjusted EPS of $1.21 against consensus for $1.17 on revenue of $3.36B against consensus for $3.42B. On November 27, Viacom named Wade Davis CFO. Davis previously served as Viacom's executive VP of strategy and corporate development and joined the company in 2005. In December, Viacom's Paramount Pictures signed an agreement with Coinstar (CSTR) and Verizon's (VZ) digital movie service, Redbox Instant by Verizon... STREET RESEARCH: Street research has been positive on Viacom since its Q4 report, with shares most recently upgraded earlier today to Outperform from Neutral at Cowen. Last week, Goldman upgraded their U.S. Media sector to Attractive from Neutral, and shares of Viacom were upgraded at the firm to Buy from Neutral. Earlier this month, Janney Capital upgraded shares to Buy from Neutral with a $65 price target, and Stifel Nicolaus also updated its price target on shares to $65 from $55 and maintained its Buy rating on shares... PRICE ACTION: Shares of Viacom have gained more than $4.50, or 8.5%, since the first day of trading following its Q4 report. Shares of Viacom are up 0.5% in afternoon trading ahead of tomorrow morning's Q1 report.
News For VIA From The Last 14 Days
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August 31, 2015
08:44 EDTVIANetflix confirms that it will not renew agreement with Epix
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05:37 EDTVIAHulu, Epix announce extensive multi-year agreement
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August 30, 2015
18:51 EDTVIANetflix to lose access to certain high profile movies, Re/code says
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17:13 EDTVIA'Compton' leads again as 'We Are Your Friends' stumbles at box office
Hip hop biopic "Straight Outta Compton" continued its domestic box office dominance while Christian drama "War Room" outpaced analyst estimates and electronic dance flick "We Are Your Friends" fizzled. U.S. WEEKEND LEADER: Comcast (CMCSA, CMCSK) subsidiary Universal's "Straight Outta Compton" grossed $13.2M domestically for the weekend of August 30, securing the top box office spot for a third consecutive week. In a record-breaking performance for musical biopics, the gangster rap film has earned $134.1M in the U.S. since opening earlier this month. Though Warner Bros.' (TWX) "We Are Your Friends" was predicted to challenge "Compton" with sales ranging $8M-$10M, the Zac Efron-led electronic music film flopped at just $1.8M. BOX OFFICE RUNNERS-UP: Produced with an estimated budget of $3M, Sony's (SNE) faith-based drama "War Room" debuted at $11M against expectations for $5M-$8.5M after leading in advance ticket sales. Viacom (VIA, VIAB) subsidiary Paramount's "Mission: Impossible Rogue Nation" relinquished its grip on second place with an $8.3M gross for the weekend, while Weinstein Company's action thriller "No Escape" opened in fourth place at $8.29M. "Sinister 2" from Comcast subsidiary Focus Features rounded out this weekend's Top 5 at $4.7M.
August 28, 2015
10:43 EDTVIAFly Watch: 'Straight Outta Compton' expected to lead box office for third week
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August 23, 2015
16:22 EDTVIA'Straight Outta Compton' finds little contention for No. 1 box office spot
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August 21, 2015
13:11 EDTVIAFly Watch: 'Straight Outta Compton' eyes second weekend at top spot
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August 20, 2015
06:36 EDTVIABernstein cuts Disney, Time Warner with TV entering 'structural decline'
Bernstein analyst Todd Juenger downgraded his rating on both Disney (DIS) and Time Warner (TWX) saying the U.S. television industry is entering a period of "prolonged structural decline." With viewers moving away from ad-supported platforms to non-ad-supported, media companies with the least exposure to U.S. advertising represent the most favorable investments, Juenger tells investors in a 48-page research note on the Media sector. The analyst moved both companies to a Market Perform rating from Outperform, and lowered his price target for Disney to $114 from $125 and for Time Warner to $90 from $101. He called the downgrade of Time Warner a "very close call" as his new price target still represents 15% upside from current levels. Share performance in the entire Media sector will be challenged until the content owners take steps to "reclaim on-demand viewing" from streaming services like Netflix (NFLX) and use it to protect affiliate fees, Juenger argues. His Outperform-rated names are Nielsen (NLSN) and 21st Century Fox (FOXA). Along with Time Warner and Disney, the analyst has Market Perform ratings on AMC Networks (AMCX), CBS (CBS), Scripps Networks (SNI) and Discovery (DISCA). Juenger has an Underperform rating on Viacom (VIAB). Wells Fargo on Tuesday also downgraded Disney to Market Perform. Piper Jaffray this morning told investors that the recent pullback in shares of AMC Networks brings a "great" entry point into the name.

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