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VIA

Viacom

$42.82

0.3 (0.71%)

, VIAB

Viacom

$38.10

0.33 (0.87%)

20:00
10/02/16
10/02
20:00
10/02/16
20:00

CBS forms special committee to weigh Viacom remerger, WSJ says

CBS (CBS) has named a special committee to review a potential remerger with Viacom (VIA), the Wall Street Journal reported Friday, citing spokesperson statements. The news follows Viacom's announcement of a special committee to explore the transaction after public insistence by National Amusements. Separately, sources told the Journal that Sumner Redstone was in the emergency room Wednesday with a respiratory infection before returning home on Friday. The sources also said the potential merger of the two companies has put the CEO search at Viacom on the "back burner." Reference Link

VIA

Viacom

$42.82

0.3 (0.71%)

VIAB

Viacom

$38.10

0.33 (0.87%)

CBS

CBS

$54.74

0.17 (0.31%)

VIA Viacom
$42.82

0.3 (0.71%)

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
$38.10

0.33 (0.87%)

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
$54.74

0.17 (0.31%)

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.

TODAY'S FREE FLY STORIES

INFO

IHS Markit

$47.85

0.39 (0.82%)

11:55
01/16/18
01/16
11:55
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11:55
Conference/Events
IHS Markit management to meet with RBC Capital »

Group Luncheon Meeting…

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GSK

GlaxoSmithKline

$37.74

0.24 (0.64%)

11:54
01/16/18
01/16
11:54
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11:54
Upgrade
GlaxoSmithKline rating change  »

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GSK

GlaxoSmithKline

$37.76

0.2646 (0.71%)

11:51
01/16/18
01/16
11:51
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11:51
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GlaxoSmithKline rating change  »

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SPY

SPDR S&P 500 ETF Trust

$278.99

1.07 (0.39%)

, SPX

S&P 500

11:50
01/16/18
01/16
11:50
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11:50
Periodicals
Steve Bannon subpoenaed before grand jury by Mueller, NY Time says »

Special counsel Robert…

SPY

SPDR S&P 500 ETF Trust

$278.99

1.07 (0.39%)

SPX

S&P 500

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PBR

Petrobras

$11.67

0.1978 (1.72%)

11:50
01/16/18
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11:50
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11:50
Options
Large spreads in Petrobras as shares reach 52-week highs »

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MRK

Merck

$62.38

3.72 (6.34%)

11:45
01/16/18
01/16
11:45
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11:45
Options
Merck call volume above normal and directionally bullish »

Bullish option flow…

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11:45
01/16/18
01/16
11:45
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11:45
General news
Treasury's $90 B bill auction were mixed, with the 3-month outperforming »

Treasury's $90 B…

TTMI

TTM Technologies

$17.39

0.59 (3.51%)

11:45
01/16/18
01/16
11:45
01/16/18
11:45
Conference/Events
TTM Technologies management to meet with SunTrust »

Group luncheon to be held…

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  • 16

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11:40
01/16/18
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11:40
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11:40
General news
U.S. VIX equity volatility is up nearly 10% »

U.S. VIX equity…

LPI

Laredo Petroleum

$11.09

0.015 (0.14%)

11:36
01/16/18
01/16
11:36
01/16/18
11:36
Initiation
Laredo Petroleum initiated  »

Laredo Petroleum…

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11:35
01/16/18
01/16
11:35
01/16/18
11:35
General news
6-Month Bill Auction Total Amount data reported »

6-Month Bill Auction…

11:34
01/16/18
01/16
11:34
01/16/18
11:34
General news
3-Month Bill Auction Total Amount data reported »

3-Month Bill Auction…

EVRI

Everi Holdings

$7.85

-0.09 (-1.13%)

, SGMS

Scientific Games

11:31
01/16/18
01/16
11:31
01/16/18
11:31
Hot Stocks
Everi Holdings names Harper Ko EVP, Chief Legal Officer - General Counsel »

Everi Holdings (EVRI)…

EVRI

Everi Holdings

$7.85

-0.09 (-1.13%)

SGMS

Scientific Games

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GME

GameStop

$17.79

0.03 (0.17%)

11:30
01/16/18
01/16
11:30
01/16/18
11:30
Options
Put buyers in Gamestop as shares attempt to stabilize »

Put buyers in Gamestop as…

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XOG

Extraction Oil & Gas

$14.16

-0.13 (-0.91%)

11:28
01/16/18
01/16
11:28
01/16/18
11:28
Conference/Events
Extraction Oil & Gas management to meet with SunTrust »

Field trip to company…

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  • 16

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11:27
01/16/18
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11:27
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11:27
Conference/Events
Cowen healthcare policy analyst holds an analyst/industry conference call »

Healthcare Policy Analyst…

11:25
01/16/18
01/16
11:25
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11:25
Conference/Events
Wolfe Research airlines analyst hosts a luncheon »

Airlines Analyst Keay…

C

Citi

$77.46

0.615 (0.80%)

11:22
01/16/18
01/16
11:22
01/16/18
11:22
Hot Stocks
Breaking Hot Stocks news story on Citi »

Citi CEO Corbat says open…

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  • 16

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TTMI

TTM Technologies

$17.39

0.59 (3.51%)

11:21
01/16/18
01/16
11:21
01/16/18
11:21
Conference/Events
TTM Technologies management to meet with SunTrust »

Group luncheon to be held…

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  • 16

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PAAS

Pan American Silver

$16.66

0.48 (2.97%)

11:20
01/16/18
01/16
11:20
01/16/18
11:20
Options
Pan Am Silver call options quickly double in value »

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  • 21

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C

Citi

$77.47

0.625 (0.81%)

11:19
01/16/18
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11:19
Hot Stocks
Breaking Hot Stocks news story on Citi »

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$NSD

NASDAQ Market Internals

11:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

11:16
01/16/18
01/16
11:16
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11:16
Technical Analysis
NYSE market internals summary »

Volume is above average…

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11:15
01/16/18
01/16
11:15
01/16/18
11:15
General news
Breaking General news story  »

6-Month Bill Auction to…

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01/16/18
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11:15
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11:15
General news
Breaking General news story  »

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