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News For YHOO;DIS From The Last 14 Days
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May 4, 2015
15:26 EDTDISDisney May 111 weekly straddle priced for 3.7% movement into Q2
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15:01 EDTDISNotable companies reporting before tomorrow's open
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13:46 EDTYHOO, DISEarnings Watch: Analysts largely positive on Disney ahead of earnings
The Walt Disney Company (DIS) is scheduled to report second quarter earnings before the market opens on Tuesday, May 5 with a conference call scheduled for 9:30 am ET. The Walt Disney Company is a diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. EXPECTATIONS: Analysts are looking for earnings per share of $1.10 on revenue of $12.25B, according to First Call. The consensus range for EPS is $1.03-$1.18 on revenue of $11.89B-$12.82B. LAST QUARTER: Disney reported first quarter EPS of $1.27 on revenue of $13.39B, beating estimates for $1.07 and $12.87B, respectively. The company said its cable networks operating income declined 2% to $1.3B in the quarter due to a decrease at ESPN, and its Parks and Resorts revenue was $3.9B vs. $3.6B a year ago. Media Networks revenue for Q1 was $5.86B vs. $4.29B in the year-ago period and Studio Entertainment revenue was $1.86B vs. $1.89B in the year-ago period. During its earnings conference call, the company said cable programming costs were expected to rise 25% in the first half of 2015 and would be flat in the second half of the year. NEWS: During the quarter, Disneyland executives sent multiple emails to the California Department of Public Health urging it to emphasize that the theme park was not responsible for the recent measles outbreaks and was safe for vaccinated people, according to The Associated Press, citing obtained documents. The report noted that "there is no evidence" the company tried to downplay the seriousness of the issue or give misleading statements. In a CNBC interview, Disney Chief Executive Officer Bob Iger said a wearable device is "coming" for park access. Disney/ABC Television Group and Yahoo (YHOO) announced an extension and expansion of their relationship in March. The companies said "content from hit shows across DATG will be featured on Yahoo." At its annual shareholder meeting, Disney said it would premiere three "Star Wars" films between now and May 2017, and said its studio is "at work" on "Frozen 2." Disney is investing $250M in online fantasy sports business DraftKings, said The Wall Street Journal.Disney/ABC Television Group digital chief Albert Cheng is leaving the company, Deadline said. Disney's ESPN objected to Verizon FiOS's (VZ) plans to break up the traditional TV bundle, The Wall Street Journal reported, and The New York Times said Disney refused to run commercials for FiOS' a la carte package on its stations. ESPN filed a breach of contract suit against Verizon over the "flexible bundle," Re/code reported. The Laurene Powell Jobs Trust reported a 7.7% passive stake in Disney in March. STREET RESEARCH: Jefferies raised its price target for Disney shares to $120 from $105 and kept a Buy rating on the stock after analyzing the potential contribution of Shanghai Disneyland. The firm expects attendance at the park to approach 18M and EBIT just north of $250M by 2021. Citigroup analyst Jason Bazinet raised his price target for Disney shares to $125 from $110 on April 27, saying the media giant has an "impressive slate of films" slated for release in 2015Ė2017. Bazinet, who has a Buy rating on the stock, expects Disney will continue taking share of the global box office. JPMorgan expects Disney to report another quarterly beat relative to consensus expectations amid ongoing strength at the Parks and Consumer Products. UBS raised its price target on Disney to $125 from $116 ahead of the company's earnings report to reflect higher estimates for content and theme parks and their effect on free cash flow. The firm has a Buy rating on shares. PRICE ACTION: Year-to-date, Disney shares are up over 17.5%. Ahead of Tuesday morning's earnings report, shares are trading up 0.2% to $110.75.
13:17 EDTDISOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after having opened in positive territory and showing little movement in the early half of the day. ECONOMIC EVENTS: In the U.S., factory orders climbed 2.1% in March, which was roughly in-line with expectations. The New York ISM current business conditions index jumped to 58.1 in April from a prior reading of 50. In China, the final Purchasing Managersí Index from HSBC and Markit for April came in at 48.9, which was below the preliminary reading of 49.2 and missed the consensus forecast of 49.4. In Europe, Markit's purchasing managers index for the eurozoneís manufacturing sector fell to 52.0 in April from 52.2 in March. COMPANY NEWS: Dow Chemical (DOW) announced it will cut approximately 1,500-1,750 positions, or approximately 3% of its global workforce, as part of streamlining the organization ahead of the companyís pending separation of a significant portion of its chlorine value chain... McDonald's shares declined fractionally after the company revealed details about the initial steps of the company's turnaround plan. The company said it will restructure its business into four new segments, accelerate the pace of its refranchising and reach the top end of its 3-year $18B-$20B cash return to shareholders target by the end of 2016... Cisco (CSCO) announced that Chuck Robbins will take over as CEO and that John Chambers will assume the role of executive chairman on July 26... Disney (DIS) moved up its second quarter earnings release and conference call following the sudden death of David Goldberg, the CEO of SurveyMonkey and husband of Facebook (FB) COO and Disney Board member Sheryl Sandberg. MAJOR MOVERS: Among the notable gainers was Array BioPharma (ARRY), which rose more than 15% after the company reported on its quarterly results and provided pipeline updates for binimetinib and encorafenib. Also higher after its earnings report was BroadSoft (BSFT), which gained almost 15%. Among the noteworthy losers was Spark Therapeutics (ONCE), which fell 4% after the New England Journal of Medicine published a study that found gene therapy created by another company that previously helped restore sight in patients with a rare form of childhood blindness peaked one to three years after treatment and had diminished by six years. Also lower were shares of Pioneer Natural Resources (PXD), which were down about 3% in afternoon trading after David Einhorn of Greenlight Capital spoke cautiously about the company and the fracking space in general while presenting at the Ira Sohn investor conference. INDEXES: Near midday, the Dow was up 64.48, or 0.36%, to 18,088.54, the Nasdaq was up 19.74, or 0.39%, to 5,025.13, and the S&P 500 was up 7.62, or 0.36%, to 2,115.91.
10:05 EDTDISDisney volatility elevated into Q2 and outlook
Disney May weekly call option implied volatility is at 47, May is at 33, June is at 23, July is at 22; compared to its 52-week average of 23, suggesting large near term price movement into the expected release of Q2 before the market open on May 5.
07:45 EDTDISTheater owners upset by Disney conditions on 'Avengers' sequel, WSJ says
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07:30 EDTDISDisney price target raised to $125 from $116 at UBS
UBS raised its price target on Disney to $125 from $116 to reflect higher estimates for content and theme parks and their effect on free cash flow. UBS reiterated its Buy rating on Disney shares.
07:11 EDTDISDisney adjusts time of earnings release to about 8am EDT Tuesday, May 5
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May 3, 2015
16:44 EDTDISDisney's 'Avengers: Age Of Ultron' leads U.S. weekend box office with $187.7M
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May 1, 2015
11:18 EDTYHOOYahoo downgraded to Neutral from Buy at Tigress Financial
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07:39 EDTDISDisney volatility elevated into Q2 and outlook
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06:54 EDTYHOOYahoo acquires startups for fresh talent, WSJ says
Yahoo CEO Marissa Mayer has cut over 3,000 workers since 2012 and added around the same with many new employees arriving through acquisitions, reports the Wall Street Journal. Reference Link
April 29, 2015
13:32 EDTDISHulu subscriber base jumped 50% year-over-year, The Verge reports
Hulu now has 9M subscribers, an increase of 50% over the same period last year, the venture's CEO stated, according to The Verge. Hulu is owned by Disney (DIS), Comcast (CMCSA) and 21st Century Fox (FOXA), Reference Link
12:19 EDTDISAMC Networks monetization improved with Hulu deal, says Piper Jaffray
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11:09 EDTYHOOYahoo falls, levels to watch
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06:10 EDTYHOO, DISHulu said to land 'Seinfeld' streaming rights, WSJ reports
Hulu, which is owned by Disney (DIS), Comcast (CMCSA) and 21st Century Fox (FOXA), has reportedly landed a deal to stream all 180 episodes of "Seinfeld," The Wall Street Journal reports. Though terms of the deal have not been disclosed, a source believes that the per-episode value of the show would be around $700,000. Amazon (AMZN) and Yahoo (YHOO) were also bidders for the streaming rights to "Seinfeld," and Netflix (NFLX) expressed interest initially, but later signed a deal for streaming rights to "Friends." Reference Link
April 28, 2015
13:13 EDTDISCablevision and Hulu announce new agreement to provide Hulu to Optimum customers
Cablevision (CVC) and Hulu (DIS; FOX; FOXA; CMCSA) announced that they have reached an agreement to offer Huluís subscription streaming service to Optimum customers. Cablevision is the first cable or satellite provider to agree to distribute Huluís comprehensive catalog of on-demand content. Cablevision plans to provide pricing and other particulars for Hulu, including its availability date, in the near future.
April 27, 2015
18:09 EDTYHOOYahoo announces 18 new digital video series
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11:37 EDTDISESPN files breach of contract suit against Verizon, Re/code reports
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10:00 EDTDISOn The Fly: Analyst Upgrade Summary
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