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Stock Market & Financial Investment News

News Breaks
May 16, 2014
11:47 EDTWWE, CMCSAWWE slammed after TV deal fails to impress investors
Shares of WWE (WWE), which organizes professional wrestling matches, are tumbling after the company signed a new TV deal with NBC that will reportedly pay it much less than it had expected. WHAT'S NEW: WWE announced that it had agreed to a multi-year renewal of its TV licensing deal with Comcast's (CMCSA) NBC. WWE did not directly disclose the value of its deal with NBC, but estimated that the average annual value of its key TV deals in the U.S., U.K., Thailand, and India would reach about $200M annually, representing an increase of more than $90M. In a note to investors earlier today, Benchmark analyst Mike Hickey estimated that WWE's fees from NBC would increase around 50%. WWW had previously estimated that the fees from NBC would double or triple, the analyst stated. He downgraded the stock to Hold from Buy and slashed his price target on the name to $19.96 from $29.12. WHAT'S NOTABLE: WWE estimated that its operating income before interest, depreciation and amortization could double or triple from 2012 levels by 2015, reaching $125M-$190M. PRICE ACTION: In late morning trading, World Wrestling sank $8.30, or 42%, to $11.65.
News For WWE;CMCSA From The Last 14 Days
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January 29, 2015
12:53 EDTCMCSAFirst Eagle Investment reports 5.69% passive stake in Comcast
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12:46 EDTCMCSAFCC's broadband standard may be obstacle to Comcast-TWC merger, Bloomberg says
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10:30 EDTWWEWWE to provide WWE Network for free in Feburary
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09:28 EDTCMCSATime Warner Cable, Comcast extend merger deadline to Aug. 15
In a regulatory filing, Time Warner Cable (TWC) and Comcast (CMCSA) announced Section 10.01(b)(i) of the Merger Agreement contemplates that the “End Date” of the Merger Agreement may be extended by a period of six months to August 12. Comcast and Time Warner Cable agree that the End Date is hereby extended to August 12, as contemplated by the Merger Agreement.
08:39 EDTCMCSATime Warner Cable will not provide guidance ahead of merger with Comcast
Comments provided during Q4 earnings conference call.
January 27, 2015
13:41 EDTWWEWWE up about 10% after reporting WWE Network has surpassed 1M subscribers
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13:31 EDTWWEWWE reports WWE Network hits 1M subscribers
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January 26, 2015
13:17 EDTCMCSALetters supporting Comcast-TWC merger ghostwritten by Comcast, The Verge says
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10:00 EDTWWEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Axle (AXL) upgraded to Overweight from Neutral at JPMorgan... Bed Bath & Beyond (BBBY) upgraded to Outperform from Perform at Oppenheimer... DRDGOLD (DRD) upgraded to Neutral from Underweight at JPMorgan... DealerTrack (TRAK) upgraded to Buy from Hold at Stifel... DreamWorks Animation (DWA) upgraded to Buy from Neutral at B. Riley... First Niagara (FNFG) upgraded to Buy from Hold at Jefferies... Fortinet (FTNT) upgraded to Buy from Neutral at Citigroup... Garmin (GRMN) upgraded at RBC Capital... Harmony Gold (HMY) upgraded to Overweight from Neutral at JPMorgan... Invesco (IVZ) upgraded to Positive from Neutral at Susquehanna... Kansas City Southern (KSU) upgraded at Raymond James... McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens... Melco Crown (MPEL) upgraded to Buy from Hold at Union Gaming... Monro Muffler (MNRO) upgraded to Neutral from Reduce at SunTrust... Pier 1 Imports (PIR) upgraded to Outperform from Perform at Oppenheimer... Piper Jaffray (PJC) upgraded to Neutral from Underperform at Macquarie... Randgold (GOLD) upgraded to Overweight from Neutral at JPMorgan... Rockwell Collins (COL) upgraded to Buy from Hold at Argus... Telefonica (TEF) upgraded to Neutral from Underperform at BofA/Merrill... Triumph Group (TGI) upgraded at RBC Capital... Unilever (UL) upgraded to Buy from Underperform at BofA/Merrill... WWE (WWE) upgraded to Neutral from Underperform at Macquarie.
07:24 EDTWWEWWE upgraded to Neutral from Underperform at Macquarie
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January 23, 2015
08:12 EDTCMCSAComcast lobbyists challenged by dual fights in Washington, WSJ says
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January 21, 2015
08:31 EDTCMCSAAT&T CEO says net neutrality may end up in Supreme Court, CNBC says
AT&T (T) Chairman and CEO Randall Stephenson believes the net neutrality debate may have to be settled by the Supreme Court, reports CNBC, citing a CNBC interview on Wednesday from the World Economic Forum in Davos. Stephenson stated, "We need a neutral Internet... I think everyone agrees with that. Where everyone is getting stuck now is going beyond that." Stephenson also stated the neutrality debate will not affect his company's decision to bid $49B for DirecTV (DTV), though he believes a quick decision from the FCC could quicken Comcast's (CMCSA, CMCSK) $45B negotiations for Time Warner Cable (TWC). Reference Link
06:17 EDTCMCSAOverstock 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 EDTCMCSANetflix says 'looking good' to reach 60M-90M U.S. subscriptions
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14:00 EDTCMCSAFCC fines Viacom, ESPN $1.4M after brodcasting EAS tones to promote movie
The Federal Communications Commission fined Viacom (VIA) and ESPN (DIS) $1.4M for misusing the Emergency Alert System warning tones. The cable networks transmitted EAS warning tones for several days in 2013 to promote the movie “Olympus Has Fallen,” which portrayed a terrorist attack on Washington, D.C. Broadcast or transmission of these tones outside an emergency or test violates the FCC’s laws protecting the integrity of the system. The networks admitted that the commercial contained actual EAS codes and appeared multiple times on the networks. In March 2014, the FCC proposed a total fine of $1,930,000 against NBCUniversal (CMCSA), ESPN, and Viacom. NBCUniversal paid its $530,000 fine, but ESPN and Viacom objected and requested reductions. The FCC rejected their arguments and imposed fines of $1,120,000 against Viacom and $280,000 against ESPN. The fines, which differ based on several factors including the number of channels involved and the number of transmissions on each channel, must be paid in 30 days.
January 16, 2015
18:07 EDTCMCSACongressional GOP unveil net neutrality law to bypass FCC, LA Times reports
Representatives Fred Upton of Michigan and John Thune of South Dakota endorsed a congressional bill that would protect net-neutrality by banning internet service providers from charging companies extra to load their sites, and prohibit broadband companies from blocking legitimate websites, or slowing speeds for customers, superseding the FCC's authority to regulate the internet, according to the LA Times. Major internet companies such as AT&T (T) , Comcast (CMCSA), and Verizon Communications (VZ) have opposed a recent recommendation by FCC Chairman Thomas Wheeler to treat internet service similar to a utility. Reference Link
09:09 EDTCMCSAYouTube to host Super Bowl halftime show
YouTube will host a Halftime Show produced in collaboration with Collective Digital Studio that will be live streamed on the AdBlitz Channel, the Google (GOOG, GOOGL) property announced in a blog post. The show will feature more than 20 YouTube creators and musicians with over 60M combined subscribers, YouTube stated. The Super Bowl is being broadcast on Sunday, Feb. 1 on Comcast's (CMCSA) NBC Network. Reference Link

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