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VIAB

Viacom

$24.57

-0.64 (-2.54%)

11:40
10/13/17
10/13
11:40
10/13/17
11:40

Second day of active trading in Viacom calls

Second day of active trading in Viacom calls. Thursday's bullish flow created notable open interest in Oct 24, Nov 25, and Nov 27.5 calls. Total OI saw an increase of 55K and that included 43K calls/12K puts. Shares rallying $1.33 to $25.90 Friday and one player bought 5K Nov 27.5 calls for $1 and 10K Nov 30 calls for 45c, untied. Nov 25, Oct 24, and Oct 26 calls are also seeing interest. Total volume is 4X daily average at 30K calls and 1K puts. Earnings due 11/16.

VIAB Viacom
$24.57

-0.64 (-2.54%)

10/13/17
MSCO
10/13/17
NO CHANGE
Target $38
MSCO
Overweight
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.
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.
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
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.

TODAY'S FREE FLY STORIES

03:05
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MERC

Mercer

$13.50

-0.05 (-0.37%)

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ADBE

Adobe

$153.00

2.62 (1.74%)

20:50
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MDB

MongoDB

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  • 19

    Oct

VZ

Verizon

$48.65

0.25 (0.52%)

, PM

Philip Morris

$112.51

-0.14 (-0.12%)

20:25
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Earnings
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Verizon

$48.65

0.25 (0.52%)

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BNY Mellon

$54.46

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BX

Blackstone

$33.49

0.27 (0.81%)

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$46.54

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TRV

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$130.02

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PPG

$112.88

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RCI

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NUE

Nucor

$57.28

0.17 (0.30%)

DOV

Dover

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GPC

Genuine Parts

$98.04

1.18 (1.22%)

TXT

Textron

$53.57

0.5 (0.94%)

DGX

Quest Diagnostics

$92.05

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ADS

Alliance Data

$228.38

1.44 (0.63%)

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HPE

HP Enterprise

$14.70

0.09 (0.62%)

19:12
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Hot Stocks
HP Enterprise raises share buyback by $5B, raises regular dividend 15% »

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  • 18

    Oct

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    Dec

HPE

HP Enterprise

$14.70

0.09 (0.62%)

19:11
10/18/17
10/18
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Hot Stocks
HPE to simplify organizational structure, to drive cost savings of $1.5B »

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  • 18

    Oct

  • 11

    Dec

HPE

HP Enterprise

$14.70

0.09 (0.62%)

19:10
10/18/17
10/18
19:10
10/18/17
19:10
Earnings
HP Enterprise sees FY17 adjusted EPS view roughly $1.00, consensus $1.40 »

Sees FY17 revenue growth…

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  • 18

    Oct

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    Dec

HPE

HP Enterprise

$14.70

0.09 (0.62%)

19:08
10/18/17
10/18
19:08
10/18/17
19:08
Earnings
HP Enterprise sees FY18 adjusted EPS $1.15-$1.25, consensus $1.20 »

HPE expects its non-GAAP…

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  • 18

    Oct

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    Dec

CME

CME Group

$136.37

0.18 (0.13%)

19:01
10/18/17
10/18
19:01
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Hot Stocks
CME Group, JPX enter agremenet to launch TOPIX futures contract on CME »

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  • 18

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UAL

United Continental

$67.99

0.48 (0.71%)

18:50
10/18/17
10/18
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Hot Stocks
Breaking Hot Stocks news story on United Continental »

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  • 19

    Oct

CSX

CSX

$53.68

-0.55 (-1.01%)

18:49
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Hot Stocks
CSX discloses reduction of locomotives in maintenance program »

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  • 29

    Oct

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VZ

Verizon

$48.65

0.25 (0.52%)

18:41
10/18/17
10/18
18:41
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18:41
Periodicals
Verizon targets spring 2018 start of delayed online TV service, Bloomberg says »

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  • 19

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IBM

IBM

$159.53

12.99 (8.86%)

18:37
10/18/17
10/18
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Hot Stocks
IBM CFO: Great start to 2H17 »

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  • 22

    Oct

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SEAS

SeaWorld

$12.31

-0.17 (-1.36%)

18:26
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Hot Stocks
SeaWorld to eliminate approximately 350 positions in restructuring program »

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  • 07

    Nov

JPM

JPMorgan

$97.99

0.37 (0.38%)

18:12
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Hot Stocks
SEC names JPMorgan exec Redfearn Director of Division of Trading and Markets »

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  • 18

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VZ

Verizon

$48.65

0.25 (0.52%)

18:10
10/18/17
10/18
18:10
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18:10
Periodicals
Verizon targets spring start of delayed online TV service, Bloomberg says »

Verizon web TV…

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  • 19

    Oct

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    Nov

STLD

Steel Dynamics

$36.44

0.27 (0.75%)

18:04
10/18/17
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Hot Stocks
Steel Dynamics CEO optimistic conditions in place to benefit FY18 consumption »

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  • 19

    Oct

CE

Celanese

$104.03

-0.24 (-0.23%)

18:03
10/18/17
10/18
18:03
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Earnings
Celanese increases price for acetyls and engineered materials products »

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STLD

Steel Dynamics

$36.44

0.27 (0.75%)

18:01
10/18/17
10/18
18:01
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18:01
Earnings
Steel Dynamics reports Q3 ex-items EPS 66c, consensus 66c »

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  • 19

    Oct

OPTT

Ocean Power

$2.00

0.56 (38.89%)

17:59
10/18/17
10/18
17:59
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Syndicate
Ocean Power files to sell common stock in 'best efforts' offering »

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  • 20

    Oct

TOSBF

Toshiba, also use TOSYY

$3.02

-0.03 (-0.98%)

, TOSYY

Toshiba, also use TOSBF

$18.20

-0.11 (-0.60%)

17:58
10/18/17
10/18
17:58
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Periodicals
Japan regulators probing Toshiba reporting practices for FY16/17, Nikkei says »

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TOSBF

Toshiba, also use TOSYY

$3.02

-0.03 (-0.98%)

TOSYY

Toshiba, also use TOSBF

$18.20

-0.11 (-0.60%)

03/08/13
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PNW

Pinnacle West

$87.34

-0.42 (-0.48%)

17:53
10/18/17
10/18
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Hot Stocks
Pinnacle West raises quarterly divided 6.1% to 69.5c per share »

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  • 03

    Nov

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    Nov

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    Nov

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    Nov

GILD

Gilead

$80.01

-0.23 (-0.29%)

17:46
10/18/17
10/18
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  • 20

    Oct

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    Feb

POT

Potash

$19.24

0.08 (0.42%)

, AGU

Agrium

$107.73

0.55 (0.51%)

17:37
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Hot Stocks
Potash, Agrium: India approves proposed merger of equals transaction »

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POT

Potash

$19.24

0.08 (0.42%)

AGU

Agrium

$107.73

0.55 (0.51%)

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