Disney (DIS) is the only cable network that can make more money in a pure over-the-top world, Citi analyst Jason Bazinet tells investors in a research note. His analysis indicates that most Entertainment companies would see their stocks fall in a world with no channel bundling. In such an environment, Viacom's (VIA, VIAB) equity would fall 58%, Comcast (CMCSA), Scripps (SNI), Time Warner (TWX) and 21st Century Fox (FOXA) would see equity declines of 10%-25%, CBS (CBS) would see less than a 10% decline while Discovery (DISCA) would see flat economics, Bazinet's analysis shows. On the other hand, Disney would see its equity rise by about 10%, even with $1.5B of incremental costs for OTT, according to the analyst. Non-sports fans currently subsidize the content for sports fans, Bazinet writes. As cord cutting occurs, this subsidy will cease, and that's when Disney can shift to an over-the-top model, he argues. The analyst believes that his analysis should put fears about Disney's economic viability as cord cutting becomes more pervasive "to bed."

Pivotal Research analyst Jeffrey Wlodarczak lowered the firm's price target on Comcast (CMCSA) to $48 from $55 and keeps a Buy rating on the shares. Comcast reported an-line Q1 results but the competitive environment appears to be intensifying, the analyst tells investors in a research note. The firm believes there is an "outside shot" that Comcast could make a play for Warner Bros. Discovery (WBD) "given it can probably get the asset relatively inexpensively and it would clearly boost their scale in content," says Pivotal.

Check out this morning's top movers from around Wall Street, compiled by The Fly.  UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.

Comcast (CMCSA) is scheduled to announce quarterly results on April 25, while Paramount (PARA) and Warner Bros. Discovery (WBD) are... To see the rest of the story go to thefly.com. See Story Here