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VIAB

Viacom

$24.57

-0.64 (-2.54%)

, VIA

Viacom

$32.45

-1.15 (-3.42%)

08:48
10/13/17
10/13
08:48
10/13/17
08:48

Viacom could be pushed back above $30 by Charter pact, says Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne noted press reports suggesting a negotiation going on between Viacom (VIAB) and Charter (CHTR) on a carriage agreement renewal and he is now modeling a nearly 15% one-time decline in blended affiliate fee pricing across Charter's footprint in exchange for broad distribution. If Viacom's networks get continued carriage on Charter, even with reduced fees, this could drive Viacom shares back above $30, contends Swinburne. He lowered his price target on Viacom to $38 from $42, but keeps an Overweight rating on the stock, noting that in any case the Charter relationship overhang will likely be removed by month end.

VIAB

Viacom

$24.57

-0.64 (-2.54%)

VIA

Viacom

$32.45

-1.15 (-3.42%)

CHTR

Charter

$355.71

-9.41 (-2.58%)

  • 26

    Oct

  • 16

    Nov

VIAB Viacom
$24.57

-0.64 (-2.54%)

10/12/17
GUGG
10/12/17
DOWNGRADE
GUGG
Neutral
Viacom downgraded to Neutral from Buy at Guggenheim
10/12/17
10/12/17
DOWNGRADE
Target $105

Neutral
Disney downgraded to Neutral on increased pay-TV caution at Guggenheim
As previously reported, Guggenheim analyst Michael Morris downgraded Disney (DIS) to Neutral from Buy, citing his increased caution toward pay-TV trends and concern that expectations for the contribution from its content cycle are too high. While he is optimistic about the company's proposed direct-to-consumer streaming products, he expects the initial investment and long lead time into the launch to weigh on sentiment over the next 12 months, Morris tells investors. The analyst, who lowered his price target on Disney to $105 from $122, also downgraded Viacom (VIAB) and AMC Networks (AMCX) this morning.
10/12/17
GUGG
10/12/17
DOWNGRADE
Target $25
GUGG
Neutral
Guggenheim sees downward fee revisions, cuts Viacom to Neutral
Guggenheim analyst Michael Morris downgraded Viacom (VIAB) to Neutral from Buy and cut his price target for the shares to $25 from $37. The analyst has "increased caution" on the company's ability to meet investor expectations for affiliate and advertising revenue growth in the coming years. Viacom's networks are at risk of downward fee revisions or carriage loss as distributors seek to mitigate cost pressures, Morris tells investors in a research note. The analyst expects total revenue for the pay-TV ecosystem to come under pressure.
10/12/17
10/12/17
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. Wal-Mart (WMT) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Matthew Fassler saying shares have achieved in three months what he had expected in a year on an improvement in sentiment, but not on higher earnings estimates. 2. Monro (MNRO) downgraded to Hold from Buy at Jefferies with analyst Bret Jordan citing expectations the company's earnings growth will slow in 2018 as its focus shifts from acquisitions to improving store-level execution. 3. Diamond Offshore (DO) downgraded to Sell from Neutral at Citi with analyst Scott Gruber saying that if an upturn is forthcoming, Transocean should outperform given a "diminution" of concern toward its balance sheet and more new contract catalysts. 4. Cummins (CMI) downgraded to Neutral following dealer checks at Longbow with analyst Faheem Sabeiha citing a recent truck dealer survey that suggests initial 2018 sales growth is below current industry forecasts, partly due to driver shortage concerns. 5. Disney (DIS), AMC Networks (AMCX), and Viacom (VIA, VIAB) were downgraded to Neutral from Buy at Guggenheim. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
VIA Viacom
$32.45

-1.15 (-3.42%)

10/09/17
10/09/17
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. Humana (HUM) downgraded to Neutral from Overweight at JPMorgan with analyst Gary Taylor saying insider sales and the August board appointment render it unlikely that acquisition discussions are yet occurring. 2. Viacom (VIAB) downgraded to Sell from Neutral at Citi with analyst Jason Bazinet saying as media and cable companies jockey "for self-preservation," Charter Communications (CHTR) will likely drop, or significantly curtail, distribution of Viacom's content. 3. PTC Therapeutics (PTCT) downgraded to Underweight from Neutral at JPMorgan with analyst Anupam Rama saying the company's valuation remains at near pre-FDA Advisory Committee meetings levels, despite multiple "mixed / inconclusive / negative" updates recently. 4. Medtronic (MDT) downgraded to Market Perform from Outperform at Wells Fargo with analyst Larry Biegelsen saying a "lull" in major product cycles will drive below average organic sales growth over at least the next few quarters. 5. Symantec (SYMC) was downgraded to Underperform from Market Perform at Cowen and to Hold from Buy at Standpoint Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CHTR Charter
$355.71

-9.41 (-2.58%)

08/15/17
WELS
08/15/17
NO CHANGE
WELS
Charter M&A rumors overdone, says Wells Fargo
Wells Fargo says it's "having a tough time buying into" rumors about Charter being acquired. The firm says that restrictions which have been placed on the company's debt are the biggest reason for its skepticism about the rumors. Wells keeps a Market Perform rating on Charter.
08/22/17
SBSH
08/22/17
NO CHANGE
Target $456
SBSH
Buy
Charter shares can rise even without M&A, says Citi
Citi analyst Jason Bazinet said he suspects about 30% of Charter's (CHTR) 80% advance since June of last year is due primarily to M&A speculation, but his analysis leads him to believe the stock could rally to $478 even without multiple expansion or M&A. To arrive at his conclusion, Bazinet placed 80% odds on Charter benefiting from some form of U.S. tax reform, a 40% chance that the company tiers Viacom (VIAB) and a 20% chance that it drops Viacom entirely. Bazinet raised his price target on Charter to $456 from $378 and keeps a Buy rating on the shares.
09/15/17
EVER
09/15/17
NO CHANGE
Target $438
EVER
Outperform
Charter price target raised to $438 from $360 at Evercore ISI
Evercore ISI analyst Vijay Jayant raised Charter's (CHTR) price target to $438 from $360 to reflect a roll forward to a 2018 price target and a blend of standalone and takeout scenarios. The analyst assigns only a 20% probability of M&A in calculating a his price target saying a deal would be difficult to structure. Any deal for Charter would need to provide owners, particularly Liberty (LBTYA) an attractive price, a structure that is satisfactory to Liberty, and acceptable from a regulatory perspective. Jayant rates Charter an Outperform.
10/09/17
SBSH
10/09/17
DOWNGRADE
Target $24
SBSH
Sell
Viacom downgraded to Sell from Neutral at Citi
Citi analyst Jason Bazinet downgraded Viacom (VIAB) to Sell and lowered his price target for the shares to $24 from $33. As media and cable companies jockey "for self-preservation," Charter Communications (CHTR) will likely drop, or significantly curtail, distribution of Viacom's content, Bazinet tells investors in a research note. Assuming Viacom loses the Charter affiliate fees, applying a pro forma Discovery (DISCA) multiple suggests Viacom's equity could fall to $19 a share, Bazinet argues. He notes that Viacom does not have news or sports content.

TODAY'S FREE FLY STORIES

02:40
10/24/17
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02:40
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02:40
General news
FX Update: The dollar majors have posted relatively narrow ranges »

FX Update: The dollar…

NVS

Novartis

$85.91

0.17 (0.20%)

, MCD

McDonald's

$163.34

-2.96 (-1.78%)

20:25
10/23/17
10/23
20:25
10/23/17
20:25
Earnings
Notable companies reporting before tomorrow's open »

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NVS

Novartis

$85.91

0.17 (0.20%)

MCD

McDonald's

$163.34

-2.96 (-1.78%)

MMM

3M

$221.55

0.23 (0.10%)

UTX

United Technologies

$120.89

-0.04 (-0.03%)

LLY

Eli Lilly

$87.18

-0.05 (-0.06%)

LMT

Lockheed Martin

$320.73

0.73 (0.23%)

CAT

Caterpillar

$131.68

0.32 (0.24%)

BIIB

Biogen

$328.55

-9.55 (-2.82%)

GM

General Motors

$45.15

-0.46 (-1.01%)

SHW

Sherwin-Williams

$386.58

-3.12 (-0.80%)

INFY

Infosys

$14.83

0.27 (1.85%)

GLW

Corning

$30.01

-0.05 (-0.17%)

PCAR

Paccar

$74.65

-0.27 (-0.36%)

SWK

Stanley Black & Decker

$158.19

-1.93 (-1.21%)

FITB

Fifth Third

$28.43

-0.17 (-0.59%)

CNC

Centene

$97.99

1.49 (1.54%)

WAT

Waters

$187.55

-0.59 (-0.31%)

IPG

Interpublic Group

$20.63

-0.25 (-1.20%)

WAB

Wabtec

$76.39

-0.48 (-0.62%)

HUBB

Hubbell

$121.32

-1.75 (-1.42%)

JBLU

JetBlue

$19.88

-0.47 (-2.31%)

PII

Polaris Industries

$106.92

0.46 (0.43%)

GPK

Graphic Packaging

$14.27

-0.01 (-0.07%)

R

Ryder

$82.94

-0.71 (-0.85%)

CVLT

Commvault

$57.90

-0.65 (-1.11%)

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PINC

Premier

$34.21

0.04 (0.12%)

20:14
10/23/17
10/23
20:14
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20:14
Downgrade
Premier rating change at KeyBanc »

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VBTX

Veritex

$26.94

-0.17 (-0.63%)

19:29
10/23/17
10/23
19:29
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19:29
Earnings
Veritex reports Q3 core EPS 28c, consensus 30c »

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OIBR

Oi S.A.

19:08
10/23/17
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Hot Stocks
Oi: Court postpones general meeting of creditors »

Oi announced that, at the…

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HAS

Hasbro

$89.75

-8.44 (-8.60%)

18:24
10/23/17
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18:24
Hot Stocks
Hasbro CEO: Had a very strong quarter »

Expects to make a revised…

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LGF.A

Lionsgate

$29.59

-0.5 (-1.66%)

, LGF.B

Lionsgate

$28.44

-0.6 (-2.07%)

18:07
10/23/17
10/23
18:07
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18:07
Hot Stocks
Lionsgate names Rohit Jain to head new office in Mumbai, India »

Lionsgate (LGF.A, LGF.B)…

LGF.A

Lionsgate

$29.59

-0.5 (-1.66%)

LGF.B

Lionsgate

$28.44

-0.6 (-2.07%)

DISH

Dish

$48.98

-0.32 (-0.65%)

VDTH

Videocon d2h

$8.00

-0.22 (-2.68%)

03/08/13
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ALE

Allete

$78.62

-0.31 (-0.39%)

18:06
10/23/17
10/23
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18:06
Hot Stocks
Wisconsin jury delivers verdict in favor of U.S. Water in Novozymes suit »

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SYT

Syngenta

$92.12

0.05 (0.05%)

, ADAM

A.D.A.M.

18:04
10/23/17
10/23
18:04
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18:04
Hot Stocks
Syngenta and Adama to sell portfolio of crop products to Nufarm for $490M »

Syngenta (SYT) announced…

SYT

Syngenta

$92.12

0.05 (0.05%)

ADAM

A.D.A.M.

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DIS

Disney

$98.70

-0.7 (-0.70%)

17:54
10/23/17
10/23
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17:54
Periodicals
Disney sees new 'Thor' movie outpacing earlier ones, Bloomberg says »

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  • 09

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VIVO

Meridian Bioscience

$15.20

-0.6 (-3.80%)

17:31
10/23/17
10/23
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17:31
Hot Stocks
Meridian Bioscience comments on FDA Warning Letter issued to subsidiary »

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APRN

Blue Apron

$5.15

0.07 (1.38%)

17:30
10/23/17
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Hot Stocks
Blue Apron names Lainie Cooney chief HR officer »

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WSFS

WSFS Financial

$50.25

-0.5 (-0.99%)

17:29
10/23/17
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17:29
Hot Stocks
WSFS Financial raises quarterly dividend 29% to 9c per share »

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CONN

Conn's

$26.85

-0.75 (-2.72%)

17:28
10/23/17
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Hot Stocks
Conn's sees Q3 SSS down 9% to down 5%, provision for bad debts at $56M-$61M »

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WSFS

WSFS Financial

$50.25

-0.5 (-0.99%)

17:27
10/23/17
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17:27
Earnings
WSFS Financial reports Q3 EPS 64c, consensus 65c »

Reports Q3 revenue…

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VBTX

Veritex

$26.94

-0.17 (-0.63%)

17:27
10/23/17
10/23
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17:27
Hot Stocks
Veritex names Michael Bryan chief information officer »

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  • 24

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TNDM

TNDM

17:25
10/23/17
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Hot Stocks
Breaking Hot Stocks news story on TNDM »

Armistice Capital reports…

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  • 26

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CLB

Core Laboratories

$87.75

-1.74 (-1.94%)

17:21
10/23/17
10/23
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17:21
Hot Stocks
Core Laboratories sees Q4 free cash flow exceeding net income »

Fourth quarter 2017 FCF…

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CLB

Core Laboratories

$87.75

-1.74 (-1.94%)

17:20
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17:20
Earnings
Core Laboratories sees Q4 revenue approximately 58c, consensus 58c »

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CLB

Core Laboratories

$87.75

-1.74 (-1.94%)

17:18
10/23/17
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17:18
Earnings
Core Laboratories reports Q3 GAAP EPS 48c, consensus 44c »

Reports Q3 revenue $166M,…

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  • 24

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LKQ

LKQ Corp.

$37.06

-0.28 (-0.75%)

, DOV

Dover

$95.54

0.59 (0.62%)

17:17
10/23/17
10/23
17:17
10/23/17
17:17
Hot Stocks
LKQ Corp to acquire aftermarket business of Dover subsidiary Warn Industries »

LKQ Corporation (LKQ)…

LKQ

LKQ Corp.

$37.06

-0.28 (-0.75%)

DOV

Dover

$95.54

0.59 (0.62%)

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  • 26

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KNL

Knoll

$20.00

-0.02 (-0.10%)

, HMST

HomeStreet

$28.60

-0.25 (-0.87%)

17:17
10/23/17
10/23
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17:17
Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS: Knoll…

KNL

Knoll

$20.00

-0.02 (-0.10%)

HMST

HomeStreet

$28.60

-0.25 (-0.87%)

CR

Crane

$83.61

-0.5 (-0.59%)

IPXL

Impax

$20.35

-0.9 (-4.24%)

ICPT

Intercept

$65.60

-1.25 (-1.87%)

SWK

Stanley Black & Decker

$158.19

-1.93 (-1.21%)

NKE

Nike

$53.66

0.6 (1.13%)

HNI

HNI Corporation

$42.29

-0.57 (-1.33%)

WHR

Whirlpool

$182.50

0.04 (0.02%)

ZION

Zions Bancorp

$46.39

-0.37 (-0.79%)

JBT

John Bean Technologies

$104.05

0.1 (0.10%)

IMDZ

Immune Design

CRBP

Corbus Pharmaceuticals

$7.40

-0.375 (-4.82%)

QURE

uniQure

$18.52

-0.75 (-3.89%)

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HBI

Hanesbrands

$22.86

-0.63 (-2.68%)

17:17
10/23/17
10/23
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17:17
Initiation
Hanesbrands initiated at Deutsche Bank »

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PVH

PVH Corp.

$129.68

1.37 (1.07%)

17:15
10/23/17
10/23
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10/23/17
17:15
Initiation
PVH Corp. initiated at Deutsche Bank »

PVH Corp. initiated with…

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NYT

New York Times

$19.55

0.1 (0.51%)

17:15
10/23/17
10/23
17:15
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17:15
Hot Stocks
Breaking Hot Stocks news story on New York Times »

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