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TIME

Time Inc.

$18.55

0.05 (0.27%)

06:33
01/04/18
01/04
06:33
01/04/18
06:33

Time Inc. sells Essence to Essence Ventures, terms not disclosed

Essence Ventures, an independent African-American owned company focused on merging content, community and commerce, announced its acquisition of multi-platform media company Essence Communications from Time Inc. ESSENCE President Michelle Ebanks will continue at the helm of the company and will also join its board of directors. In addition, the all Black female executive team of ESSENCE, including Ebanks, will have an equity stake in the business.Through the Essence Ventures' investment and resulting incremental growth opportunities, ESSENCE will focus on expanding its digital businesses via distribution partnerships, compelling original content and targeted client-first strategies. In addition, the brand will expand its international growth by planting its rich content ecosystem, including the flagship magazine, digital properties and successful live event franchises, in more global markets with women who have shared interests and aspirations.Terms of the transaction were not disclosed.

  • 08

    Jan

TIME Time Inc.
$18.55

0.05 (0.27%)

11/27/17
WELS
11/27/17
NO CHANGE
WELS
Meredith, Time Inc. combination should yield cost synergies, says Wells Fargo
Wells Fargo analyst Eric Katz notes that Meredith (MDP) and Time Inc. (TIME) finally came to terms on a deal, with the former acquiring the latter for $18.50/share in cash. The analyst believes the combination should yield substantial cost synergies.
11/27/17
WELS
11/27/17
UPGRADE
WELS
Outperform
Wells Fargo upgrades Meredith with Street-high target after Time deal
Wells Fargo Securities analyst Eric Katz upgraded Meredith (MDP) to Outperform from Market Perform and raised his price target for the shares to $76 from $54. The media company in midday trading is up 9%, or $5.75, to $6.75. The analyst sees the Time Inc. (TIME) acquisition yielding "substantial" cost synergies that will fall to EBITDA. His new price target is the high among sell-side analysts, according to data compiled by Bloomberg.
11/28/17
JEFF
11/28/17
UPGRADE
Target $80
JEFF
Buy
Meredith upgraded to Buy from Hold at Jefferies
Jefferies analyst John Janedis upgraded Meredith (MDP) to Buy and raised his price target for the shares to $80 from $56. The analyst believes the acquisition of Time Inc. (TIME) is highly accretive and creates "compelling" value. He believes the market, over time, will give Meredith credit for an improved long-term trajectory.
11/28/17
GABE
11/28/17
DOWNGRADE
GABE
Sell
Time Inc. downgraded to Sell from Hold at Gabelli
Gabelli downgraded Time Inc (TIME) to Sell following the acquisition by Meredith (MDP) for $18.50 per share in cash. Analyst Barry Lucas does not expect any other bidders or strategic buyers to emerge.

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SPX

S&P 500

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SPDR S&P 500 ETF Trust

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-2.18 (-0.81%)

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ADM

Archer Daniels

$45.50

-0.295 (-0.64%)

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Bunge

$73.72

-1.935 (-2.56%)

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CE

Celanese

$111.69

0.56 (0.50%)

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IOTS

Adesto Technologies

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-0.2 (-2.26%)

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SIGM

Sigma Designs

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0.1 (1.61%)

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BRK.A

Berkshire Hathaway

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-260 (-0.09%)

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Berkshire Hathaway

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-0.32 (-0.16%)

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BRK.A

Berkshire Hathaway

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Berkshire Hathaway

$200.09

-0.32 (-0.16%)

TMK

Torchmark

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0.02 (0.02%)

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SMHI

SEACOR Marine Holdings

$22.90

-0.86 (-3.62%)

, CG

Carlyle Group

$20.85

0.15 (0.72%)

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SEACOR Marine Holdings announces $56.9M private placement of common stock »

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SMHI

SEACOR Marine Holdings

$22.90

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CG

Carlyle Group

$20.85

0.15 (0.72%)

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AVAV

AeroVironment

$56.66

-0.15 (-0.26%)

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AeroVironment awarded $44.7M U.S. Army contract modification »

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  • 09

    May

XLE

Energy Select Sector SPDR

$73.30

-0.36 (-0.49%)

, XLU

Utilities SPDR

$50.29

-0.45 (-0.89%)

17:10
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General news
Week ending ETF Scorecard: Energy outperforms again, Staples lag »

S&P500 SECTORS:…

XLE

Energy Select Sector SPDR

$73.30

-0.36 (-0.49%)

XLU

Utilities SPDR

$50.29

-0.45 (-0.89%)

IYR

DJ US Real Estate Index Fund

$73.94

-0.62 (-0.83%)

XLP

Consumer Staples Sector SPDR

$50.49

-0.85 (-1.66%)

XLY

Consumer Discretionary Sector SPDR

$102.97

-1.06 (-1.02%)

XLB

S&P Select Materials SPDR

$59.00

-0.36 (-0.61%)

XLF

Financial Select Sector

$27.89

0.015 (0.05%)

XLV

Health Care Select Sector SPDR

$82.10

-0.45 (-0.55%)

XLK

Technology Select Sector SPDR

$66.18

-0.97 (-1.44%)

XLI

Industrial Select Sector SPDR

$75.59

-0.32 (-0.42%)

GLD

SPDR Gold Trust

$126.61

-1.01 (-0.79%)

SLV

iShares Silver Trust

$16.14

-0.11 (-0.68%)

USO

United States Oil Fund

$13.76

-0.01 (-0.07%)

UNG

United States Natural Gas Fund

$22.56

0.475 (2.15%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$85.91

-0.19 (-0.22%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$115.47

-0.49 (-0.42%)

TLT

iShares 20+ Year Treasury Bond Fund

$118.47

-0.88 (-0.74%)

IEF

iShares 7-10 Year Treasury Bond ETF

$101.57

-0.355 (-0.35%)

SHY

iShares 1-3 Year Treasury Bond

$83.26

-0.03 (-0.04%)

IWD

iShares Russell 1000 Value

$121.38

-0.61 (-0.50%)

IWF

iShares Russell 1000 Growth

$137.65

-1.53 (-1.10%)

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JAGX

Jaguar Health

$0.16

-0.0051 (-3.02%)

17:07
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Breaking Syndicate news story on Jaguar Health »

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WMT

Walmart

$86.98

-0.9 (-1.02%)

, FB

Facebook

$166.29

-1.82 (-1.08%)

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Walmart says Kevin Systrom will not stand for re-election to board »

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Walmart

$86.98

-0.9 (-1.02%)

FB

Facebook

$166.29

-1.82 (-1.08%)

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  • 20

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  • 01

    Jun

WMT

Walmart

$86.98

-0.9 (-1.02%)

, MCD

McDonald's

$158.77

-0.76 (-0.48%)

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Walmart announces McDonald's Steve Easterbrook as independent nominee to board »

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WMT

Walmart

$86.98

-0.9 (-1.02%)

MCD

McDonald's

$158.77

-0.76 (-0.48%)

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SPY

SPDR S&P 500 ETF Trust

$266.66

-2.18 (-0.81%)

, USO

United States Oil Fund

$13.76

-0.01 (-0.07%)

17:00
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General news
Weekly CFTC Commitment of Traders highlights »

S&P500 net long 2.5K…

SPY

SPDR S&P 500 ETF Trust

$266.66

-2.18 (-0.81%)

USO

United States Oil Fund

$13.76

-0.01 (-0.07%)

GLD

SPDR Gold Trust

$126.61

-1.01 (-0.79%)

FXE

Euro Currency Trust

$118.04

-0.65 (-0.55%)

FXC

CurrencyShares Canadian Dollar Trust

$77.37

-0.54 (-0.69%)

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CTXR

Citius Pharmaceuticals

$2.86

0.01 (0.35%)

16:59
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Syndicate
Breaking Syndicate news story on Citius Pharmaceuticals »

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16:55
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General news
Treasury Closing Summary: »

Treasury Closing Summary:…

FPI

Farmland Partners

$7.85

-0.24 (-2.97%)

16:51
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Breaking Syndicate news story on Farmland Partners »

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GIFI

Gulf Island Fabrication

$8.85

0.05 (0.57%)

16:51
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Breaking Hot Stocks news story on Gulf Island Fabrication »

PVAM Perlus Microcap Fund…

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  • 25

    Apr

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    Apr

AMID

American Midstream Partners

$11.45

-0.1 (-0.87%)

16:46
04/20/18
04/20
16:46
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16:46
Syndicate
American Midstream Partners files $150M preferred unit offering »

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AMID

American Midstream Partners

$11.45

-0.1 (-0.87%)

16:41
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Syndicate
American Midstream Partners requests withdrawal of registration statement »

The Partnership has…

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SSC

Seven Stars Cloud Group

$2.67

-0.1 (-3.61%)

16:40
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Breaking Syndicate news story on Seven Stars Cloud Group »

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HNI

HNI Corporation

$35.35

-0.28 (-0.79%)

16:39
04/20/18
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HNI Corporation CEO says 'seeing increased inflationary pressures' »

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  • 01

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HNI

HNI Corporation

$35.35

-0.28 (-0.79%)

16:38
04/20/18
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16:38
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Earnings
HNI Corporation narrows FY18 adjusted EPS view to $2.40-$2.70 from $2.40-$2.80 »

FY18 consensus $2.54. The…

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HNI

HNI Corporation

$35.35

-0.28 (-0.79%)

16:35
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16:35
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Earnings
HNI Corporation sees Q2 adjusted EPS 28c-38c ex-costs, consensus 56c »

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WHR

Whirlpool

$149.43

-2.505 (-1.65%)

16:34
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Breaking Syndicate news story on Whirlpool »

Whirlpool files automatic…

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  • 24

    Apr

GEL

Genesis Energy

$21.24

0.065 (0.31%)

16:34
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Breaking Syndicate news story on Genesis Energy »

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