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CMCSA

Comcast

$39.58

0.08 (0.20%)

, FOXA

21st Century Fox

$38.81

0.8 (2.10%)

04:48
02/27/18
02/27
04:48
02/27/18
04:48

Comcast tops Fox offer for Sky with $31B acquisition proposal

Comcast (CMCSA) announced a possible offer which it says is a "superior cash proposal" to acquire Sky (SKYAY). Comcast's announcement of a superior cash proposal of GBP 12.50 per share represents a 16% increase in value over the existing 21st Century Fox offer (FOXA) for Sky. Comcast's superior cash proposal implies an equity value of $31B for Sky. "A combination would bring attractive financial benefits to Comcast shareholders, and is expected to be accretive to Comcast's free cash flow per share in year one...The acquisition would enhance the entertainment, distribution, and technology leadership of Comcast, and importantly expand Comcast's international footprint to more effectively compete in the rapidly changing and intensely competitive entertainment and communications landscape. The combined business would create compelling opportunities for growth and innovation," Comcast said in a statement. "We think Sky is an outstanding company. It has 23 million customers and leading positions in the UK, Italy, and Germany. Sky has been a consistent innovator in its use of technology to deliver a fantastic viewing experience and has a proud record of investment in news and programming. It has great people and a very strong and capable management team. Comcast intends to use Sky as a platform for growth in Europe. We already have a strong presence in London through our NBCUniversal international operations, and we intend to maintain Sky's UK headquarters. Adding Sky to the Comcast family of businesses will increase our international revenues from 9% to 25% of Company revenues," said Brian Roberts, CEO of Comcast.

CMCSA

Comcast

$39.58

0.08 (0.20%)

FOXA

21st Century Fox

$38.81

0.8 (2.10%)

SKYAY

Sky

$61.60

-0.18 (-0.29%)

  • 27

    Feb

  • 05

    Mar

CMCSA Comcast
$39.58

0.08 (0.20%)

01/18/18
MOFT
01/18/18
NO CHANGE
Target $52
MOFT
Buy
Comcast price target raised to $52 from $45 at MoffettNathanson
MoffettNathanson analyst Craig Moffett raised Comcast's price target to $52 from $45 citing tax reform benefits.
01/18/18
01/18/18
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. Symantec (SYMC) downgraded to Underperform from Hold at Jefferies with analyst John DiFucci saying the company's current guidance is not achievable and the stock will rerate lower upon investor realization. 2. Juno Therapeutics (JUNO) downgraded to Neutral from Buy at Citi with analyst Robyn Karnauskas saying Juno could be worth $110 per share in a takeover. 3. Comcast (CMCSA) downgraded to Neutral from Buy at Nomura Instinet with analyst Jeffrey Kvaal saying the company faces "heightened challenges" with over-the-top services driving declines in linear video and broadband growth likely to slow. 4. First Solar (FSLR) downgraded to Neutral from Buy at Guggenheim with analyst Sophie Karp citing valuation and limited near-term catalysts. 5. Chevron (CVX) downgraded to Hold from Buy at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/25/18
RHCO
01/25/18
NO CHANGE
Target $50
RHCO
Buy
Comcast price target raised to $50 from $45 at SunTrust
SunTrust analyst Greg Miller raised his price target on Comcast to $50 and kept his Buy rating after "solid" Q4 earnings, citing a more aggressive cash repatriation and encouraging guidance. Miller notes that while cable results were slightly below estimates, NBCU saw more "top-line momentum" and Xfinity wireless continued to gain subscribers. The analyst says he is bullish on the company's ability to grow and "generate significant free cash".
01/28/18
PIPR
01/28/18
NO CHANGE
PIPR
Growth of sports rights may be coming down, says Piper Jaffray
Piper Jaffray analyst Stan Meyers says he is starting to see some evidence that the growth of sports rights may be coming down toward a more reasonable rate. The analyst notes that only CBS (CBS), Fox (FOXA) and NBC (CMCSK; CMCSA) submitted bids for Thursday Night Football rights, with CBS and NBC submitting bids below their current rate of $450M per year, and Fox making a higher bid for the rights, in a likely effort to establish itself as a "live sports and news" network in the wake of selling a majority of assets to Disney (DIS). On the digital side, Facebook (FB) declined to make an offer for digital streaming rights to TNF, while Amazon (AMZN), which paid $50M this year, and Twitter (TWTR), which paid $10M last year did submit bids.
FOXA 21st Century Fox
$38.81

0.8 (2.10%)

01/22/18
ATLE
01/22/18
UPGRADE
ATLE
Overweight
21st Century Fox upgraded to Overweight from Neutral at Atlantic Equities
01/16/18
RILY
01/16/18
UPGRADE
Target $46
RILY
Buy
21st Century Fox upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Barton Crockett upgraded 21st Century Fox to Buy and raised his price target for the shares to $46 from $38. The analyst raised his estimates and price targets across the entire media sector reflect the benefits of tax reform.
01/10/18
BOFA
01/10/18
NO CHANGE
Target $144
BOFA
Buy
Disney price target raised to $144 from $130 at BofA/Merrill
BofA/Merrill analyst Jessica Reif Cohen raised her price target for Disney (DIS) to $144 from $130 as she believes it offers a "solid" catalyst pipeline for upside potential in 2018/2019, driven by a strong film release slate, a potential spring analyst event to discuss direct-to-consumer strategy, the opening of Toy Story Land, DTC/Hulu, and accelerating buybacks ahead of its pending 21st Century Fox (FOXA) acquisition. The analyst also projects Disney's Q1 will reflect healthy Studio and Theme Park trends, partially offset by unfavorable comps at Consumer Products and ratings headwinds/streaming investments Media Networks. Cohen reiterates a Buy rating on Disney's shares.
SKYAY Sky
$61.60

-0.18 (-0.29%)

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.

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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-0.05 (-0.32%)

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XLE

Energy Select Sector SPDR

$74.87

-0.24 (-0.32%)

, XLU

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$52.28

-0.39 (-0.74%)

17:39
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General news
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Industrial Select Sector SPDR

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GLD

SPDR Gold Trust

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SLV

iShares Silver Trust

$14.59

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United States Oil Fund

$14.15

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UNG

United States Natural Gas Fund

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iShares iBoxx $ High Yield Corporate Bond

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LQD

iShares iBoxx $ Investment Grade Corporate Bond

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TLT

iShares 20+ Year Treasury Bond Fund

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iShares 7-10 Year Treasury Bond ETF

$102.21

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iShares 1-3 Year Treasury Bond

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iShares Russell 1000 Value

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iShares Russell 1000 Growth

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XRX

Xerox

$25.10

-0.095 (-0.38%)

, FUJIY

Fujifilm

$0.00

(0.00%)

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FUJIY

Fujifilm

$0.00

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03/08/13
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  • 26

    Jul

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
07/20/18
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
07/20/18
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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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Hot Stocks
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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BOX

Box

$26.13

-0.26 (-0.99%)

16:57
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ALDX

Aldeyra

$7.95

-0.15 (-1.85%)

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Breaking Syndicate news story on Aldeyra »

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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

    Jul

  • 25

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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
07/20/18
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Options
Preliminary option volume of 20.2M today »

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PFE

Pfizer

$37.33

-0.03 (-0.08%)

16:26
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  • 22

    Aug

  • 10

    Sep

JCP

J.C. Penney

$2.50

-0.065 (-2.53%)

16:23
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J.C. Penney chief customer officer McFarland to leave company »

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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%)

16:18
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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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16:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
07/20/18
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16:16
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16:16
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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