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TIME

Time Inc.

$13.25

-0.01 (-0.08%)

08:41
10/18/16
10/18
08:41
10/18/16
08:41

Time Inc. CEO continues executive shakeup with CFO succession

Shares of Time Inc. (TIME) are in focus this morning after the media company announced a series of organizational changes, including the departure of its chief financial officer. The management shakeup comes as Rich Battista settles into his role as chief executive officer. CFO SHAKEUP: This morning, Time Inc. stated that its executive vice president and CFO Jeff Bairstow will leave the company following a transition period. Bairstow will stay in his role until November 7, at which time he will maintain an advisory role until March 1. The company said senior vice president and controller Sue D'Emic will succeed Bairstow as EVP and CFO and will report to Battista. OTHER MANAGEMENT CHANGES: Additionally, Time Inc. said that Marcus Rich, who serves as CEO of Time Inc. U.K., will now report to CEO Battista. Rich previously reported to Bairstow. Further, Battista said that Erik Moreno, the current EVP, Business Development, will become EVP and President, Corporate Development, New Ventures & Investments. Moreno will oversee Time Inc. International as well as M&A and Strategic Planning, Time said. Finally, Time said Greg Giangrande, EVP and Chief Human Resources Officer, will take on the additional role of Chief Communications Officer and will oversee Corporate Communications and Media Relations, Employee Communications and Corporate Social Responsibility, while Jaison Blair, currently SVP, Investor Relations and Corporate Communications, will become SVP, Investor Relations, Finance & Corporate Development. WHAT'S NOTABLE: Last month, the media company named Jen Wong as the company's COO, a newly created role, marking the first executive appointment since Battista became CEO. Battista was named CEO in September, a month after Jana Partners bought a stake in the media company. Battista, who had been executive vice president of Time and president of Brands, replaced Joe Ripp, who remains executive chairman. Jana Partners held a nearly 5% stake in Time Inc. at the end of June, according to regulatory filings. Time has been working to expand its digital business and recently launched an ad-supported streaming video service called the People/Entertainment Weekly Network. The launch represents an opportunity for the magazine publisher to diversify by gaining digital audience and scale, The Wall Street Journal recently said.

TIME Time Inc.
$13.25

-0.01 (-0.08%)

05/17/16
05/17/16
INITIATION

Time Inc. to host investor open house
Investor open house to be held in New York on May 17 at 9 am. Webcast Link
05/19/16
MACQ
05/19/16
UPGRADE
MACQ
Outperform
Time Inc. upgraded to Outperform from Neutral at Macquarie
05/19/16
05/19/16
UPGRADE

Outperform
Time Inc. upgraded to Outperform at Macquarie
As previously reported, Macquarie upgraded Time Inc to Outperform from Neutral. The firm's analyst believes Time will see a dramatic turnaround in earnings and cash flow beginning in the second half of this year following heavy cost cutting and investments in content.
05/19/16
05/19/16
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. Wells Fargo analyst Craig Bijou upgraded Mazor Robotics (MZOR) to Outperform, saying the stock has more appreciation potential after yesterday's rally on its commercial agreement with Medtronic (MDT). The partnership "provides a strong endorsement" of Mazor's next-generation technology, Bijou told investors. 2. Macquarie upgraded Time Inc. (TIME) to Outperform from Neutral, as the firm's analyst believes Time will see a dramatic turnaround in earnings and cash flow beginning in the second half of this year following heavy cost cutting and investments in content. 3. RBC Capital analyst Robert Stallard upgraded L-3 Communications (LLL) to Outperform and increased his price target to $150 from $137. Following management meetings, the analyst has increased confidence L-3 is on track to achieve its long-term operating margin goals and improved execution. 4. Halliburton (HAL) upgraded to Buy from Neutral at Griffen Securities. 5. Credit Suisse (CS) upgraded to Buy from Neutral at UBS. 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

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General news
U.S. equities are stuck in the Fed's headlights »

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SGMS

Scientific Games

$43.10

1.05 (2.50%)

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Scientific Games to acquire NYX Gaming Group for C$2.40 per share »

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PG

Procter & Gamble

$94.17

1.02 (1.10%)

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PTLA

Portola Pharmaceuticals

$52.09

-4.48 (-7.92%)

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Portola Pharmaceuticals analyst commentary  »

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RCII

Rent-A-Center

$12.16

-0.05 (-0.41%)

09:02
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Breaking Hot Stocks news story on Rent-A-Center »

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AEO

American Eagle

$13.63

0.18 (1.34%)

09:02
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Hot Stocks
American Eagle to expand to India through licensed stores »

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GOOGL

Alphabet Class A

$936.86

7.11 (0.76%)

, GOOG

Alphabet

$921.81

6.81 (0.74%)

09:02
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Periodicals
Google said to acquire certain HTC assets, VentureBeat's Bass reports »

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GOOGL

Alphabet Class A

$936.86

7.11 (0.76%)

GOOG

Alphabet

$921.81

6.81 (0.74%)

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  • 22

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RCII

Rent-A-Center

$12.16

-0.05 (-0.41%)

09:02
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09/20
09:02
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09:02
Hot Stocks
Rent-A-Center reports core U.S. SSS down 5.3% in August »

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MEET

Meet Group

$3.84

-0.09 (-2.29%)

09:01
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09:01
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09:01
Conference/Events
Meet Group to host conference call »

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  • 20

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EDVMF

Endeavour Mining

$18.42

-0.0721 (-0.39%)

09:00
09/20/17
09/20
09:00
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Conference/Events
Endeavour Mining holds a conference call »

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GIS

General Mills

$55.38

-1.05 (-1.86%)

08:57
09/20/17
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08:57
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08:57
Hot Stocks
General Mills says cereal sales improved in August »

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  • 20

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CIEN

Ciena

$22.08

-0.26 (-1.16%)

08:57
09/20/17
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08:57
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08:57
Recommendations
Ciena analyst commentary  »

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  • 05

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FDX

FedEx

08:57
09/20/17
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08:57
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Recommendations
FedEx analyst commentary  »

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  • 21

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BPMC

Blueprint Medicines

$63.86

0.98 (1.56%)

08:56
09/20/17
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08:56
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08:56
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Blueprint Medicines analyst commentary  »

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BAC

Bank of America

$24.86

0.16 (0.65%)

, S

Sprint

$8.20

0.52 (6.77%)

08:55
09/20/17
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08:55
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08:55
Options
Notable open interest changes for September 20th »

Tuesday's total…

BAC

Bank of America

$24.86

0.16 (0.65%)

S

Sprint

$8.20

0.52 (6.77%)

T

AT&T

$38.21

0.79 (2.11%)

BABA

Alibaba

$180.07

0.09 (0.05%)

03/08/13
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RARE

Ultragenyx

$51.90

-1.09 (-2.06%)

08:54
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Conference/Events
Ultragenyx has a conference call hosted by JPMorgan »

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  • 22

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WBC

Wabco

$146.87

3.9 (2.73%)

08:53
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08:53
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Conference/Events
Wabco holds a conference call »

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ADBE

Adobe

$156.60

0.83 (0.53%)

08:53
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Adobe analyst commentary  »

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  • 22

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AAN

Aaron's

$39.35

0.94 (2.45%)

08:49
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BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

08:49
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Bed Bath & Beyond analyst commentary  »

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GIS

General Mills

$55.38

-1.05 (-1.86%)

08:45
09/20/17
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08:45
Earnings
General Mills says sees FX having 1c favorable impact to FY18 EPS 

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  • 20

    Sep

RSX

Market Vectors Russia ETF

$21.74

0.08 (0.37%)

, TQQQ

ProShares UltraPro QQQ

$115.32

0.49 (0.43%)

08:45
09/20/17
09/20
08:45
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Options
Largest borrow rate increases among liquid names »

Latest data shows the…

RSX

Market Vectors Russia ETF

$21.74

0.08 (0.37%)

TQQQ

ProShares UltraPro QQQ

$115.32

0.49 (0.43%)

FSLR

First Solar

$48.86

0.32 (0.66%)

IMMU

Immunomedics

$11.64

0.38 (3.37%)

JCP

J.C. Penney

$3.97

-0.18 (-4.34%)

IYR

DJ US Real Estate Index Fund

$81.01

-0.63 (-0.77%)

CHK

Chesapeake

$4.04

-0.01 (-0.25%)

SMH

Market Vectors Semiconductor

$92.60

0.24 (0.26%)

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  • 22

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FDX

FedEx

$216.00

0.92 (0.43%)

08:43
09/20/17
09/20
08:43
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08:43
Technical Analysis
Technical View: FedEx trades lower after results and outlook »

Shares were last at $213…

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  • 21

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GEMP

Gemphire Therapeutics

$9.65

0.54 (5.93%)

08:43
09/20/17
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Gemphire Therapeutics analyst commentary  »

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  • 25

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FDX

FedEx

$216.00

0.92 (0.43%)

08:42
09/20/17
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08:42
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08:42
Recommendations
FedEx analyst commentary  »

FedEx price target raised…

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