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Fly News Breaks for April 5, 2016
WWE
Apr 5, 2016 | 07:31 EDT
After meeting with WWE's management, Wells Fargo says that the 4.3% decline in the company's stock yesterday was caused by the fact that paid subscriber levels for the company's network came in below expectations. However, Wells attributes the miss to the company's decision to offer free trials of the network for the first time, and it notes that the combined paid and free subscriber base came in above expectations. Wells also notes that WWE now expects its Q1 OIBDA to be above its previous guidance, and it reported that its Q1 subscribers came in above its guidance. Wells thinks that the stock's risk/reward ratio is "compelling" and recommends that investors buy the shares on weakness.
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