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News For VIVHY;TWX;SNE From The Last 14 Days
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September 21, 2015
10:49 EDTSNEGoPro falls after Barron's predicts 'dramatic' drop in share price
GoPro (GPRO) shares fell in morning trading after an article from Barron's argued that the company's share price may drop to as low as $25. WHAT'S NEW: Alexander Eule argued in a Barron's article that GoPro's stock price may see a "dramatic" slip of as much as 30% to $25 due to significant competitive pressure from Apple (AAPL), Sony (SNE) and others. Eule noted that the company's shares have crashed to a recent $35 after peaking at $98 in October 2014 and even called the mostly bullish analyst views on the camera maker's stock "wishful thinking." Additionally, Eule called the company's cameras a "one-product wonder" and compares them to BlackBerry (BBRY) smartphones and Palm digital organizers, which previously dominated their respective markets. The article adds that there is risk in being overly bearish on the company, since the "impressive" brand might become an acquisition target. WHAT'S NOTABLE: Last Wednesday, Citi analyst Jeremy David said that GoPro chief financial officer Jack Lazar confirmed at the bank's Global Tech Conference the week before that the Hero4 Session camera has been off to a slow start since its launch on July 12. David said that the recent selloff in the company's shares has been motivated by investor concerns about the Session. At the time, Citi cut its third quarter fiscal 2015 estimate for the company to $425M from $438M and fourth quarter estimate to $560M from $737M, $148M below consensus estimate at the time of $708M. David also said he was reducing estimates for the second half of fiscal 2015 and first quarter of fiscal 2016 as a result of downside from the Hero4 Session, but left estimates after 1Q16 unchanged, saying the long-term fundamentals of the company are "intact." The analyst added that his firm was "humbled" by the recent move in share price and acknowledged that GoPro is the "quintessential product cycle stock," though he said he remains bullish on the long-term prospects of the camera maker and reiterated a $90 price target. David argued that GoPro missing Q3 estimates and guiding below the consensus for Q4 is largely priced in. Separately, The Wall Street Journal said on September 13 that shares of GoPro were starting to look like a bargain after dropping 50% in a month. The company had a difficult time selling its Hero4 Session camera in July in the face of competition from older GoPro models, the publication added. PRICE ACTION: In morning trading, GoPro shares are down 5.15% to $33.34. OTHERS TO WATCH: Ambarella (AMBA), which supplies chips to GoPro, is down 3.7% to $68.81.
09:14 EDTTWXNetflix CEO congratulates HBO on Emmy dominance
Netflix (NFLX) CEO Reed Hastings tweeted out: "Congrats @HBO on supporting so much Emmy-winning talent. Your leadership of great television is inspiring." Time Warner's (TWX) HBO dominated the Emmy awards ceremony with 43 awards over all, including 29 Creative Emmys last week. Viacom's (VIA) Comedy Central, with four wins, was the network with the second-highest number of awards last night. Meanwhile, Hastings' won Netflix won four awards and Amazon (AMZN) earned its first-ever Emmy wins with two awards for its series "Transparent." Reference Link
September 20, 2015
19:48 EDTTWX, SNE'Maze Runner' sequel outpaces 'Black Mass'
Young-adult science fiction film "Maze Runner: The Scorch Trials" raced ahead of Johnny Depp-led crime biopic "Black Mass" in their respective weekend debuts. WEEKEND LEADER: Falling somewhat short of estimated sales in the range of $34M-$36M, Fox's (FOX, FOXA) "Maze Runner: The Scorch Trials" grossed $30.3M domestically for the weekend of September 20. The sci-fi action thriller's $61M budget nearly doubles that of the first "Maze Runner" film, building on a trend of dystopic young-adult films popularized by Lionsgate's (LGF) "The Hunger Games" and "Divergent." BOX OFFICE RUNNERS-UP: "Black Mass" from Time Warner (TWX) subsidiary Warner Bros. took in $23.4M for its domestic open. The Boston-based crime film garnered acclaim from critics and audiences alike, with particular praise given to Johnny Depp in the role of mobster Whitey Bulger. Meanwhile, Comcast (CMCSA, CMCSK) subsidiary Universal's horror thriller "The Visit" earned $11.4M in its second week in theaters, while Sony (SNE) thriller "The Perfect Guy" fell to fourth place with $9.7M. Rounding out this weekend's Top 5, Universal's disaster film "Everest" grossed $7.6M despite opening in just 545 theaters ahead of its wider release.
16:37 EDTTWXWarner Bros., China Media Capital form joint venture to develop Chinese films
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12:49 EDTSNEGoPro shares could fall another 30% to $25, Barron's says
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