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SKYAY

Sky

$53.81

-0.44 (-0.81%)

, FOXA

21st Century Fox

$32.75

-1.35 (-3.96%)

08:11
12/14/17
12/14
08:11
12/14/17
08:11

Sky responds to 21st Century Fox announcement, says remains 'bound' by agreement

Sky notes the announcement by 21st Century Fox (FOXA) and Disney (DIS) regarding Disney's agreement to acquire 21CF, after a spin-off of certain businesses and notes that 21CF's 39% shareholding in Sky forms part of the Disney Transaction. 21CF and Disney have entered into a definitive agreement relating to the Disney Transaction, the completion of which is subject to various regulatory and other approvals. Sky further notes that, as stated by Disney and 21CF in the Announcement: "Prior to the close of the transaction, it is anticipated that 21st Century Fox will seek to complete its planned acquisition of the 61% of Sky it doesn't already own. Sky is one of Europe's most successful pay television and creative enterprises with innovative and high-quality direct-to-consumer platforms, resonant brands and a strong and respected leadership team. 21st Century Fox remains fully committed to completing the current Sky offer and anticipates that, subject to the necessary regulatory consents, the transaction will close by June 30, 2018." Sky remains in an offer period and, together with 21CF, is bound by its offer announcement, dated 15 December 2016, and by the terms of the Co-operation Agreement, dated 15 December 2016; and by the rules of the Takeover Code and the requirements of the Takeover Panel. Sky notes that 21CF's current offer is not conditional on the completion of the Disney Transaction. Sky further notes the announcement today by the Panel Executive, confirming that the Announcement does not alter 21st Century Fox's obligations under the Takeover Code with respect to its existing pre-conditional offer for Sky announced on 15 December 2016.

SKYAY

Sky

$53.81

-0.44 (-0.81%)

FOXA

21st Century Fox

$32.75

-1.35 (-3.96%)

FOX

21st Century Fox

$32.34

-1.26 (-3.75%)

DIS

Disney

$107.61

0.18 (0.17%)

  • 14

    Dec

  • 14

    Dec

  • 14

    Dec

SKYAY Sky
$53.81

-0.44 (-0.81%)

04/04/17
PIVT
04/04/17
NO CHANGE
Target $36
PIVT
Buy
Boycotts of O'Reilly Factor likely manageable for now, says Pivotal Research
Pivotal Research analyst Brian Wieser said advertiser boycotts of O'Reilly Factor are likely manageable and only slightly negative at this time, but added that a more significant concern is the potential for this to impact Ofcom's "fit and proper" test related to Fox's (FOXA) proposed takeover of Sky (SKYAY). Wieser, who views the Sky acquisition as a favorable strategic combination, would sees the U.K. regulator not allowing the transaction to proceed as a negative. However, he keeps a Buy rating and $36 price target on Fox shares.
04/26/17
JEFF
04/26/17
UPGRADE
JEFF
Buy
Sky upgraded to Buy from Hold at Jefferies
Price target GBP 1,200p.
08/01/17
FBCO
08/01/17
NO CHANGE
Target $37
FBCO
Outperform
21st Century Fox, Sky deal to take longer to clear, says Credit Suisse
Credit Suisse analyst Omar Sheikh continues to believe the Sky (SKYAY) transaction will eventually receive full regulatory approval, but highlights there is an elevated risk to the deal if it is referred to the CMA, and at best an extended period before it gets cleared. Meanwhile, he believes the 2018 21st Century Fox (FOXA) organic equity story looks compelling, and reiterates an Outperform rating and $37 price target on the shares.
10/12/17
FBCO
10/12/17
NO CHANGE
Target $35
FBCO
Outperform
21st Century Fox price target lowered to $35 from $37 at Credit Suisse
Credit Suisse analyst Omar Sheikh lowered his price target for 21st Century Fox (FOXA) to $35 from $37 ahead of Q1 earnings. The analyst notes that the key near-term headwinds are soft NFL ratings and the risk that the Sky (SKYAY) transaction is blocked by U.K. regulators. The analyst reiterates an Outperform rating on 21st Century Fox shares.
FOXA 21st Century Fox
$32.75

-1.35 (-3.96%)

12/13/17
FBNS
12/13/17
NO CHANGE
FBNS
FBN says Fox could be worth over $42 per share with Disney deal
With multiple media report indicating that Disney (DIS) is close to finalizing a deal to buy most of 21st Century Fox's (FOX) assets and operations, FBN Securities analyst Robert Routh is estimating that Fox shares could have a "real value" of $42.46 based on what has been reported on the likely deal. This estimate is before considering taxes and taking into account that Disney shares will likely rise after a deal is confirmed, said Routh, who does not officially cover either Disney or Fox.
12/11/17
BTIG
12/11/17
NO CHANGE
BTIG
BTIG says Comcast could pay 'significantly' more for Fox assets than Disney
BTIG analyst Richard Greenfield said earlier in a note to investors that he believes Comcast (CMCSA) could pay "significantly more" for the assets that Fox (FOXA) is reportedly looking to sell than could Disney (DIS). He also believes Comcast could have a better chance of securing regulatory approval for a deal if they are willing to spin off all of the regional sports networks that a combined entity would own.
12/07/17
JEFF
12/07/17
NO CHANGE
JEFF
Jefferies sees Disney, not Comcast, as more likely Fox suitor
Amid press reports that suggest Comcast (CMCSA) continues to pursue 21st Century Fox (FOXA) along with Disney (DIS), Jefferies analyst John Janedis says he sees Disney as the more likely suitor given the regulatory concerns with a Comcast deal. The analyst believes Comcast would need to offer a premium to Disney for Fox to compensate for more regulatory risk. However, assuming Comcast has interest in the same assets as Disney, and using the same $66B value for Fox's assets, the analyst estimates the deal would be high-single-digit dilutive to Comcast earnings, versus neutral to Disney due to relative tax rates.
12/13/17
BTIG
12/13/17
NO CHANGE
BTIG
Disney, Fox deal may be a near-term positive for Netflix, BTIG says
Commenting on Disney's (DIS) deal with Fox (FOX; FOXA) and its potential implications, BTIG's Richard Greenfield notes that the knee jerk reaction he hears across the investment world is the former is buying the later to build their "Netflix killer." Greenfield "strongly disagrees" with this viewpoint, saying that if Disney wanted to build a Netflix competitor it should be eliminating its stock buyback and aggressively investing in content that has no legacy media strings attached. Further, the Disney/Fox transaction is likely a near-to-intermediate term positive for Netflix, he argues, adding that both companies will be tied up in a 12 month or more regulatory review process with thousands of executives in limbo pending the closing of the transaction.
FOX 21st Century Fox
$32.34

-1.26 (-3.75%)

11/10/17
BERN
11/10/17
NO CHANGE
Target $101
BERN
Market Perform
Disney deal for Fox wouldn't solve underlying problems, says Bernstein
Bernstein analyst Todd Juenger noted that Disney (DIS) has gone from a situation where reported EPS was going up but its stock price was going down to one where EPS is going down but the stock has been going up a bit driven by M&A speculation. However, he contends that the current round of renewed M&A speculation is happening because underlying fundamentals are "so bad" and even if a deal for Disney to buy Fox (FOXA) assets happens it wouldn't solve the underlying problems. He also thinks the chances of a Disney-Fox deal as currently described are "very low." Juenger maintains a Market Perform rating and $101 price target on Disney shares.
DIS Disney
$107.61

0.18 (0.17%)

12/11/17
LOOP
12/11/17
NO CHANGE
Target $106
LOOP
Buy
Disney's "Thor" film exceeded expectations, says Loop Capital
Loop Capital analyst David Miller raised his price target on Disney to $106 from $103 and nudged up his estimates for Q1 EPS to $1.65 on "stellar" performance of Thor Ragnorak. Miller says his initial pre-release forecast was for box office total to amount to $725M, but the film is tracking to reach $900M. The analyst points out that the higher price target remains independent of the upcoming release of Last Jedi, forecasting $658M in Q1 sales and all other proceeds going into Q2. Miller keeps his Buy rating on Disney.

TODAY'S FREE FLY STORIES

FNWB

First Northwest Bancorp

$16.11

0.36 (2.29%)

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FCX

Freeport McMoRan

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XLE

Energy Select Sector SPDR

$74.87

-0.24 (-0.32%)

, XLU

Utilities SPDR

$52.28

-0.39 (-0.74%)

17:39
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IYR

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Consumer Discretionary Sector SPDR

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S&P Select Materials SPDR

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Industrial Select Sector SPDR

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GLD

SPDR Gold Trust

$116.56

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SLV

iShares Silver Trust

$14.59

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USO

United States Oil Fund

$14.15

0.025 (0.18%)

UNG

United States Natural Gas Fund

$22.38

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iShares iBoxx $ High Yield Corporate Bond

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LQD

iShares iBoxx $ Investment Grade Corporate Bond

$115.27

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TLT

iShares 20+ Year Treasury Bond Fund

$120.78

-1.46 (-1.19%)

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iShares 7-10 Year Treasury Bond ETF

$102.21

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SHY

iShares 1-3 Year Treasury Bond

$83.26

-0.005 (-0.01%)

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iShares Russell 1000 Value

$123.07

-0.2897 (-0.23%)

IWF

iShares Russell 1000 Growth

$149.41

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XRX

Xerox

$25.10

-0.095 (-0.38%)

, FUJIY

Fujifilm

$0.00

(0.00%)

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Xerox

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FUJIY

Fujifilm

$0.00

(0.00%)

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  • 26

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STON

StoneMor Partners

$3.61

-0.015 (-0.41%)

17:15
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Breaking Hot Stocks news story on StoneMor Partners »

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TEF

Telefonica

$8.70

0.07 (0.81%)

17:11
07/20/18
07/20
17:11
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17:11
Downgrade
Telefonica rating change at Goldman Sachs »

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

, USO

United States Oil Fund

$14.15

0.025 (0.18%)

17:04
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Weekly CFTC Commitment of Traders highlights »

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

FXE

Euro Currency Trust

$112.46

0.83 (0.74%)

FXC

CurrencyShares Canadian Dollar Trust

$75.17

0.81 (1.09%)

03/08/13
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CZWI

Citizens Community Bancorp

$14.15

(0.00%)

17:02
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17:02
Syndicate
Breaking Syndicate news story on Citizens Community Bancorp »

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PKD

Parker Drilling

$0.30

-0.0044 (-1.46%)

17:01
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Breaking Hot Stocks news story on Parker Drilling »

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  • 02

    Aug

RSLS

ReShape Lifesciences

$1.47

-0.02 (-1.34%)

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Breaking Hot Stocks news story on ReShape Lifesciences  »

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BOX

Box

$26.13

-0.26 (-0.99%)

16:57
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Box initiated at First Analysis »

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ALDX

Aldeyra

$7.95

-0.15 (-1.85%)

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GLRE

Greenlight Capital Re

$14.00

-0.15 (-1.06%)

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RVI

Retail Value

$34.56

0.2 (0.58%)

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LECO

Lincoln Electric

$92.26

0.64 (0.70%)

, ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

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LECO

Lincoln Electric

$92.26

0.64 (0.70%)

ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

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  • 23

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KMX

CarMax

$77.15

-0.57 (-0.73%)

16:33
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CarMax chairman sells 37,500 common shares »

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LOW

Lowe's

$100.65

-0.74 (-0.73%)

16:31
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Lowe's names Joseph McFarland as EVP of stores »

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16:30
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Options
Preliminary option volume of 20.2M today »

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PFE

Pfizer

$37.33

-0.03 (-0.08%)

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  • 22

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JCP

J.C. Penney

$2.50

-0.065 (-2.53%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
Closing CBOE SPX and VIX Index summary for July 20th »

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ASFI

Asta Funding

$3.15

-0.1 (-3.08%)

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Asta Funding receives Nasdaq non-compliance letter »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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07/20
16:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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16:16
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Technical Analysis
NYSE market internals summary »

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DIS

Disney

16:15
07/20/18
07/20
16:15
07/20/18
16:15
Periodicals
Disney fires 'Guardians' director after controversial tweets, THR says »

Disney has fired James…

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  • 07

    Aug

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