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VIA

Viacom

$42.50

-0.32 (-0.75%)

, VIAB

Viacom

$37.69

-0.41 (-1.08%)

05:51
10/04/16
10/04
05:51
10/04/16
05:51

Gabelli: Viacom, CBS combination 'makes sense economically,' FT reports

Mario Gabelli, whose company is the second-largest holder of voting shares in Viacom (VIAB), says a combination with CBS (CBS) "makes sense economically," adding that "If I'm CBS, I want to go global" and that CBS CEO Les Moonves "would be an appropriate" choice to run a combined company, The Financial Times reports. Other investors and analysts have also welcomed a potential deal, and many analysts agree that Moonves' leadership is a "key asset" in creating value. Reference Link

VIA

Viacom

$42.50

-0.32 (-0.75%)

VIAB

Viacom

$37.69

-0.41 (-1.08%)

CBS

CBS

$54.93

0.19 (0.35%)

CBS.A

$55.60

0.22 (0.40%)

VIA Viacom
$42.50

-0.32 (-0.75%)

09/19/16
09/19/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PayPal (PYPL) downgraded to Hold from Buy at Canaccord with analyst Michael Graham saying he expects TPV growth to remain solid driven by Venmo and One Touch, but said these factors are well understood and reflected in estimates. 2. Viacom (VIA, VIAB) downgraded to Hold from Buy at Stifel with analyst Benjamin Mogil saying the stock's valuation is no longer attractive in the wake of the news that the company had decided to table its plans to sell a minority stake in Paramount. 3. Caterpillar (CAT) downgraded to Mixed from Positive at OTR Global with the firm saying third quarter global new heavy equipment orders are down 8%-11% year-over-year on weakness in North American. 4. Western Union (WU) downgraded to Negative from Neutral at Susquehanna with analyst James Friedman saying he is concerned about downside risks given the company's high multiple, increased regulatory scrutiny, and the lack of improvement in its Middle East business. 5. Campbell Soup (CPB) downgraded to Hold from Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/16
BMUR
09/20/16
NO CHANGE
Target $65
BMUR
Buy
Brean Capital says merger between Viacom and CBS is quite possible
Brean Capital analyst Alan Gould believes a merger between Viacom (VIA) and CBS (CBS) is quite possible. In such a scenario, the analyst sees Viacom buying CBS, which would allow for a greater premium to CBS shareholders, but he added there is also the possibility of CBS doing the buying. Gould believes a merger would be the best way to maximize returns for both shareholders. He also believes such a merger could already be discounted in the shares. Gould rates CBS a Buy with a $65 price target.
09/20/16
WELS
09/20/16
NO CHANGE
WELS
Viacom dividend likely to be eliminated, says Wells Fargo
Wells Fargo says that the market is expecting Viacom (VIA,VIAB) to cut its dividend by 50%. However, Wells Fargo says that the company will eliminate its entire dividend within tow months from now. The firm says that a 50% cut would enable Viacom to barely make its debt payments for the next year but still leave it "with limited financial visibility running at break-even with no cushion." The firm thinks that the company needs at least some cash cushion. It does not expect the company to merge with CBS (CBS) and keeps an Underperform rating on Viacom.
09/22/16
TLSY
09/22/16
DOWNGRADE
TLSY
Market Perform
CBS downgraded on likely Viacom merger at Telsey Advisory
As noted earlier, Telsey downgraded CBS (CBS) to Market Perform from Outperform. Analyst Tom Eagan says that CBS will probably merge with Viacom (VIA, VIAB). The analyst believes that it will take "years" for Viacom to be turned around, and he says that Viacom's fiscal 2017 EBITDA will come in 18% below its fiscal 2015 level. The analyst expects the company's credit rating to be downgraded by S&P. CBS target to $57 from $67.
VIAB Viacom
$37.69

-0.41 (-1.08%)

09/21/16
WDLK
09/21/16
NO CHANGE
Target $65
WDLK
Viacom price target lowered to $65 from $82 at Wunderlich
09/22/16
FBCO
09/22/16
NO CHANGE
Target $42
FBCO
Outperform
Viacom price target lowered to $42 from $53 at Credit Suisse
Credit Suisse analsyt Omar Sheikh lowered Viacom estimates driven by lower forecasts for Paramount and reduced its price target to $42 from $53. The analyst believes management changes make the long-term earnings recovery from a potential restructuring of Cable Networks and a return of Paramount profitability more likely and maintains his Outperform rating.
CBS CBS
$54.93

0.19 (0.35%)

09/22/16
TLSY
09/22/16
DOWNGRADE
TLSY
Market Perform
CBS downgraded to Market Perform from Outperform at Telsey Advisory
09/22/16
09/22/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CBS (CBS) downgraded to Market Perform from Outperform at Telsey Advisory with analyst Tom Eagan saying that CBS will probably merge with Viacom (VIA, VIAB). 2. Jabil Circuit (JBL) downgraded to Hold from Buy at Needham with analyst Sean Hannan saying that 2017 will unlikely be a "robust year." 3. Pearson (PSO) downgraded to Neutral from Outperform at Exane BNP Paribas. 4. Syntel (SYNT) downgraded to Market Perform from Outperform at Barrington with analyst Vincent Colicchio saying he's "increasingly concerned that the challenging environment will continue to negatively impact the company's business." 5. FMC Technologies (FTI) downgraded to Neutral from Accumulate at Seaport Global wit analyst Mark Brown saying upstream customers have "little appetite" for deepwater development spending. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CBS.A
$55.60

0.22 (0.40%)

03/09/16
03/09/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Casey's General Stores (CASY) upgraded to Outperform and Strong Buy at RBC Capital and Feltl, respectively, with analysts citing valuation and long-terms earnings growth. RBC Capital analyst Irene Nattel expects a re-acceleration of FY17 unit growth driven by new store construction and strategic initiatives to result in a recovery in the multiple, consistent with peers. 2. CBS (CBS) upgraded to Outperform at Wells Fargo by analyst Marci Ryvicker, who said there is a lot more clarity on the company's core business than when she originally downgraded the shares last August. The analyst also cites strong ad trends, Nielsen's more accurate measurement system, the company's NFL deal and better monetization of Showtime. 3. Bitauto (BITA) upgraded to Outperform at Credit Suisse with analyst Evan Zhou saying that the company is making progress in auto transaction services with an improving margin profile. 4. FireEye (FEYE) upgraded to Overweight at Piper Jaffray by analyst Andrew Nowinski, who said the company's transition to an as-a-service model will be successful. Nowinski adds that FireEye is expected to reach profitability in the second half of 2017. 5. CRH (CRH) upgraded to Buy at Jefferies citing an improving outlook for most of the company's key markets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SBGSY

Schneider Electric

$13.70

-0.115 (-0.83%)

15:24
02/24/17
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Conference/Events
Schneider Electric management to meet with JPMorgan »

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SBGSY

Schneider Electric

$13.70

-0.115 (-0.83%)

15:23
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15:23
Conference/Events
Schneider Electric management to meet with JPMorgan »

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AVP

Avon Products

$4.43

0.18 (4.24%)

15:21
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Hot Stocks
Avon Products rises after COO discloses purchase of 150K shares »

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AAPL

Apple

$136.53

-0.58 (-0.42%)

15:21
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Options
Apple expiring ATM straddle is active as shares pin to $136 into the final hour »

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PPRUY

Kering

$24.38

0.055 (0.23%)

15:19
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Conference/Events
Kering management to meet with JPMorgan »

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$NSD

NASDAQ Market Internals

15:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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AET

Aetna

$128.69

-1.04 (-0.80%)

15:14
02/24/17
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15:14
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15:14
Conference/Events
Aetna management to meet with JPMorgan »

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WMT

Wal-Mart

$72.37

1.055 (1.48%)

, BBY

Best Buy

$45.75

1.435 (3.24%)

15:12
02/24/17
02/24
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15:12
Periodicals
White House denying Cohn comments on border-adjustment tax, Axios says »

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WMT

Wal-Mart

$72.37

1.055 (1.48%)

BBY

Best Buy

$45.75

1.435 (3.24%)

COST

Costco

$175.85

-0.66 (-0.37%)

TGT

Target

$66.59

1.61 (2.48%)

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    Mar

PYPL

PayPal

$42.53

0.11 (0.26%)

15:11
02/24/17
02/24
15:11
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15:11
Options
$1M premium seller in Paypal »

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WSTC

West Corp.

$24.66

-0.09 (-0.36%)

15:09
02/24/17
02/24
15:09
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15:09
Conference/Events
West Corp. to host analyst day »

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  • 28

    Feb

FCNCA

First Citizens

$363.85

0.03 (0.01%)

15:07
02/24/17
02/24
15:07
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15:07
Hot Stocks
Breaking Hot Stocks news story on First Citizens »

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DLTR

Dollar Tree

$77.57

-0.97 (-1.24%)

15:06
02/24/17
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Options
Dollar Tree call volume above normal and directionally bullish »

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  • 01

    Mar

ADRO

Aduro Biotech

$11.15

-0.25 (-2.19%)

15:01
02/24/17
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Hot Stocks
Meet Aduro: CEO Isaacs says partnerships help development efforts »

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SRRA

Sierra Oncology

$1.42

-0.05 (-3.40%)

15:01
02/24/17
02/24
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Hot Stocks
Breaking Hot Stocks news story on Sierra Oncology »

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EIGI

Endurance

$9.00

-0.3 (-3.23%)

14:59
02/24/17
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Rumors
Rumor moving shares of Endurance »

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  • 27

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WSTC

West Corp.

$24.66

-0.09 (-0.36%)

14:57
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Periodicals
West Corp. buyout looks challenging, Dealreporter says »

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  • 28

    Feb

LUK

Leucadia

$25.63

-0.09 (-0.35%)

14:50
02/24/17
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Options
Leucadia options imply 2.4% move in share price post-earnings, above median historical move »

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EWJ

iShares MSCI Japan Index Fund

$51.43

-0.205 (-0.40%)

14:41
02/24/17
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Options
iShares Japan Fund draws a notable option block »

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RP

RealPage

$33.70

-0.5 (-1.46%)

14:36
02/24/17
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Conference/Events
RealPage management to meet with JMP Securities »

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  • 27

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VLKAY

Volkswagen

$30.91

0.135 (0.44%)

14:29
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02/24
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Hot Stocks
Volkswagen took EUR6.4B in charges from diesel scandal in FY16 »

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ADRO

Aduro Biotech

$11.15

-0.25 (-2.19%)

, NVS

Novartis

$77.15

-0.2959 (-0.38%)

14:27
02/24/17
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Hot Stocks
Meet Aduro: Progress across 3 main platforms seen in 2017 »

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ADRO

Aduro Biotech

$11.15

-0.25 (-2.19%)

NVS

Novartis

$77.15

-0.2959 (-0.38%)

JNJ

Johnson & Johnson

$122.09

1.19 (0.98%)

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SU

Suncor

$31.55

-1.12 (-3.43%)

14:26
02/24/17
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Options
Suncor call volume above normal and directionally bullish »

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VLKAY

Volkswagen

$30.91

0.135 (0.44%)

14:21
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02/24
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Hot Stocks
Volkswagen sees FY17 operating return on sales 6%-7% »

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SPKE

Spark Energy

$25.55

0.35 (1.39%)

14:21
02/24/17
02/24
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Periodicals
Spark Energy hires Morgan Stanley to advise on potential sale, SparkSpread says »

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