As the situation deteriorates for media companies due to accelerating cord cutting and weak ad trends, RBC Capital analyst Steven Cahall thinks that companies in the sector will look to consolidate. He thinks that Discovery (DISCA) will likely look to combine with either Lionsgate (LGF.A,LGF.B) or Charter (CHTR) and could look to combine with Scripps Networks (SNI).

Reports Q1 revenue $431M, consensus $427.89M. "Barnes continues to advance our business transformation strategy with solid first-quarter results, additional long-term Aerospace agreements benefiting from our MB Aerospace acquisition, and the completed sale of the Associated Spring and Hanggi businesses in April," said Thomas J. Hook, President and CEO of Barnes. "Following the divestiture, an increasing majority of our earnings are driven by Aerospace, where we are investing to take full advantage of strong demand and attractive growth opportunities. And we continue to integrate, consolidate, and rationalize our Industrial business to further optimize our portfolio for long-term profitable growth. Our comprehensive strategic review is ongoing, and we remain committed to reshaping and positioning Barnes to maximize value for our shareholders. We look forward to sharing our ongoing progress."