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SBGI

Sinclair Broadcast

$29.30

-1.25 (-4.09%)

, TRCO

Tribune Media

$39.21

-1.6 (-3.92%)

13:10
04/20/18
04/20
13:10
04/20/18
13:10

Sinclair drops with judges reportedly skeptical of FCC in deal case

Shares of Sinclair Broadcast (SBGI) are moving lower after Bloomberg reported earlier that judges at the U.S. Court of Appeals for the D.C. Circuit are skeptical of the Federal Communications Commission's stance on the company's proposed acquisition of Tribune Media (TRCO). Shares of Sinclair are down 5% to $28.98 while Tribune is down 4% to $39.17 in afternoon trading. Federal judges questioned why the FCC had reinstated a rule allowing owners of some TV stations to count just part of their audience when tallying holdings against a national limit of 39%, according to Bloomberg. The issue is a key factor to Sinclair's proposed purchase of Tribune, which would leave it covering 72% of U.S. households, or about 45% when counting half the audience as allowed under the embattled rule, Bloomberg notes. Other media stocks are declining today, including CBS (CBS), Gray Television (GTN) and Tegna (TGNA) and Media General (MEG). Reference Link

SBGI

Sinclair Broadcast

$29.30

-1.25 (-4.09%)

TRCO

Tribune Media

$39.21

-1.6 (-3.92%)

CBS

CBS

$49.49

-1.455 (-2.86%)

GTN

Gray Television

$11.80

-0.425 (-3.48%)

TGNA

Tegna

$10.73

-0.465 (-4.15%)

MEG

Media General

$0.00

(0.00%)

  • 03

    May

  • 08

    May

  • 08

    May

SBGI Sinclair Broadcast
$29.30

-1.25 (-4.09%)

02/08/18
SPHN
02/08/18
NO CHANGE
SPHN
Court ruling on ownership rules positive for broadcasters, says Stephens
Stephens analyst Kyle Evans noted that a Third Circuit Court ruling protects the new FCC ownership rules for 6 months and he views the stay on petitions in this matter as a positive for the broadcasting group. However, he still thinks continued uncertainty around the timing and final structure of Sinclair's (SBGI) deal for Tribune Media (TRCO), high leverage and tax reform complications on market swaps as possible constraints on near-term deal activity. Other companies in the space include Gray Television (GTN), Nexstar (NXST) and Tegna (TGNA).
01/04/18
BNCH
01/04/18
NO CHANGE
BNCH
Benchmark includes Alibaba, Activision among best ideas for first half
Benchmark analysts have complied their list of Best Ideas for the first half of 2018, which includes Axcelis (ACLS), Activision Blizzard (ATVI), Alibaba (BABA), BioTelemetry (BEAT), LivePerson (LPSN), Marvell (MRVL), NCR Corp. (NCR), Omnicell (OMCL), Pegasystems (PEGA), Quantenna (QTNA), Sinclair Broadcast (SBGI), Select Medical (SEM), STAAR Surgical (STAA) and Western Digital (WDC).
12/14/17
JEFF
12/14/17
INITIATION
Target $48
JEFF
Buy
Sinclair Broadcast initiated with a Buy at Jefferies
Jefferies analyst John Janedis started Sinclair Broadcast Group (SBGI) with a Buy rating and $48 price target. The benefits of the Tribune Media (TRCO) transaction are not fully appreciated in today's stock price, the analyst contends.
10/31/17
10/31/17
INITIATION
Target $43

Buy
Sinclair Broadcast initiated with a Buy at FBR Capital
FBR Capital analyst Barton Crockett started Sinclair Broadcast Group with a Buy rating and $43 price target. The analyst also added the shares to his firm's Alpha Generator List. The stock is "absurdly mispriced," with secular concerns for TV overly pressuring the valuation, Crockett tells investors in a research note. The analyst sees the pending $3.5B Tribune merger as a potential catalyst. He estimates the deal could lift free cash flow per share by 40%.
TRCO Tribune Media
$39.21

-1.6 (-3.92%)

06/02/17
SPHN
06/02/17
NO CHANGE
SPHN
Overweight
Regulatory uncertainty may cause volatility for Sinclair, Tribune, says Stephens
Stephens analyst Kyle Evans noted that a federal court has temporarily delayed effectiveness of the FCC's decision to reinstate the UHF discount, which he said is critical for Sinclair Broadcast's (SBGI) deal to acquire Tribune Media (TRCO). The deal could be jeopardized if the court permanently blocked the UHF discount and regulatory uncertainty may cause volatility in the stocks, said Evans. The analyst reiterates his Overweight rating and $46 price target on Sinclair shares.
08/08/17
BNCH
08/08/17
NO CHANGE
BNCH
Buy
Fox-ION 'rumors' most likely a negotiating tactic, says Benchmark
Benchmark analyst Daniel Kurnos highlighted a "slew" of "inconsistencies" that make him skeptical of last week's "unsubstantiated rumor published by Bloomberg" regarding Fox (FOXA) potentially forming a JV with ION and pulling all of its affiliate agreements from Sinclair (SBGI), concluding in a note to investors that this was "just another negotiating tactic by the network." Fox's "cozy" agreements with Tribune (TRCO) may get disrupted by Sinclair's acquisition, added Kurnos, who has a Buy rating on Sinclair shares.
CBS CBS
$49.49

-1.455 (-2.86%)

03/28/18
SBSH
03/28/18
UPGRADE
Target $30
SBSH
Neutral
Viacom upgraded to Neutral from Sell at Citi
Citi analyst Jason Bazinet upgraded Viacom (VIAB) to Neutral and raised his price target for the shares to $30 from $26. The analyst assigns a 50% probability of a merger with CBS (CBS) and believes Viacom shares would be worth $30 under such a scenario.
03/28/18
SBSH
03/28/18
NO CHANGE
SBSH
Citi sees 50/50 chance of CBS, Viacom merger
Amid media reports that CBS (CBS) and Viacom (VIAB) are discussing a combination, Citi analyst Jason Bazinet is out with a research note ascribing a 50/50 chance of a deal being reached. The analyst sees three unknowns: will they merge, will CBS pay a premium for Viacom, and how large are the synergies? To reflect the potential for a deal, Bazinet upgraded Viacom to Neutral from Sell and raised his price target for the shares to $30 from $26. The analyst also lowered his price target for Buy-rated CBS to $61 from $71.
04/03/18
LOOP
04/03/18
NO CHANGE
Target $75
LOOP
Buy
CBS take-under offer for Viacom may 'uncouple' the stocks, says Loop Capital
Loop Capital analyst Alan Gould is keeping his Buy rating and $75 price target on CBS (CBS) following yesterday's afterhours reports of a take-under consideration for Viacom (VIAB). The analyst notes that the two stocks have been linked in underperformance, and that the low offer may uncouple that momentum. Gould adds that the deal could give CBS greater scale, allow an opportunity to buy the company early in its turnaround process, and add to its distribution leverage with scale and synergies.
04/03/18
KEYB
04/03/18
NO CHANGE
KEYB
Sector Weight
KeyBanc would likely view Viacom acquisition by CBS favorably
KeyBanc analyst Andy Hargreaves notes that news reports suggest an all-stock offer for Viacom (VIAB) by CBS (CBS) is imminent. The analyst believes this would create earnings growth potential through cost synergies in excess of what CBS standalone is capable of and could increase the likelihood of monetizing Viacom-owned assets through disposition. Hargreaves views the near-term risk/reward on CBS as positive and would likely view a deal favorably. He reiterates a Sector Weight rating on CBS shares.
GTN Gray Television
$11.80

-0.425 (-3.48%)

12/14/17
JEFF
12/14/17
INITIATION
Target $18
JEFF
Buy
Gray Television initiated with a Buy at Jefferies
Jefferies analyst John Janedis started Gray Television with a Buy rating and $18 price target. The analyst believes the company's retrans growth opportunity may be underappreciated and that recent regulatory reform will benefit the company.
01/11/18
BNCH
01/11/18
NO CHANGE
BNCH
Strong political environment for broadcasters may be overlooked, says Benchmark
Benchmark analyst Daniel Kurnos said he thinks the particularly strong political environment for broadcasters in 2018 may be being overlooked. Kantar Media/CMAG predicts a 14% increase in 2018 political spending versus 2014 levels, which is ahead of the 8-12% increase most common during comparable political cycles, the analyst noted. Nexstar (NXST) has the greatest overall political exposure among broadcasters in contested states, said Kurnos, who forecasts Nexstar and Meredith (MDP) can grow political revenue 7% and 15%, respectively, compared to 2014. Among the other broadcasters he covers - Gray (GTN), TEGNA (TGNA) and E.W. Scripps (SSP) - Kurnos models flat political revenue vs. 2014 but said this may be "a highly conservative initial outlook."
02/15/18
BNCH
02/15/18
NO CHANGE
Target $21
BNCH
Buy
Gray Television pullback presents attractive entry point, says Benchmark
While Benchmark analyst Daniel Kurnos noted in his preview of Gray Television's upcoming earnings report that he has again tweaked down his Q1 expectations to reflect incremental dislocation from the Super Bowl and Olympics, he also said he expects upside to both 4Q17 and FY18 numbers. Kurnos said he sees the recent pullback in Gray shares as offering an attractive entry point to the stock ahead of upside potential in 2018 given Gray's dominant position in small markets and his belief the political environment can be a boost. He maintains a Buy rating on Gray shares.
TGNA Tegna
$10.73

-0.465 (-4.15%)

10/18/17
GUGG
10/18/17
INITIATION
Target $17
GUGG
Buy
Tegna initiated with a Buy at Guggenheim
Guggenheim initiated Tegna with a Buy and $17 price target.
01/04/18
WELS
01/04/18
UPGRADE
Target $19
WELS
Outperform
Tegna upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Marci Ryvicker upgraded Tegna to Outperform and raised her price target for the shares to $19 from $14. The analyst sees "a lot of potential upside" in 2018 given the company's exposure to NBC. She sees the channel benefitting from the Super Bowl and Olympics, as well as the mid-term elections.
MEG Media General
$0.00

(0.00%)

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ECA

Encana

$13.12

-0.22 (-1.65%)

13:45
05/24/18
05/24
13:45
05/24/18
13:45
Options
Encana call volume above normal and directionally bullish »

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  • 24

    May

13:45
05/24/18
05/24
13:45
05/24/18
13:45
General news
Breaking General news story  »

Philadelphia Federal…

PYPL

PayPal

$82.17

1.1 (1.36%)

13:41
05/24/18
05/24
13:41
05/24/18
13:41
Hot Stocks
FTC gives final approval to PayPal settlement over Venmo claims »

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  • 24

    May

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  • 12

    Jun

SSP

E.W. Scripps

$12.75

-0.1 (-0.78%)

, DIS

Disney

$102.16

-0.74 (-0.72%)

13:36
05/24/18
05/24
13:36
05/24/18
13:36
Hot Stocks
E.W. Scripps renews affiliation pacts with ABC and CBS in several markets »

The E.W. Scripps Company…

SSP

E.W. Scripps

$12.75

-0.1 (-0.78%)

DIS

Disney

$102.16

-0.74 (-0.72%)

CBS

CBS

$50.67

0.16 (0.32%)

03/08/13
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03/06/13
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03/06/13
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  • 30

    May

GM

General Motors

$38.42

0.57 (1.51%)

13:31
05/24/18
05/24
13:31
05/24/18
13:31
Technical Analysis
Technical Take: General Motors on upside, positive China Baojun Bloomberg story »

As previously reported,…

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  • 20

    Jun

ACCO

ACCO Brands

$12.95

0.1 (0.78%)

13:29
05/24/18
05/24
13:29
05/24/18
13:29
Conference/Events
ACCO Brands management to meet with KeyBanc »

Meeting to be held in New…

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  • 31

    May

BECN

Beacon Roofing

$41.97

2.18 (5.48%)

13:26
05/24/18
05/24
13:26
05/24/18
13:26
Conference/Events
Beacon Roofing management to meet with KeyBanc »

Meeting to be held in…

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  • 29

    May

  • 12

    Jun

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    Jun

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    Jun

RUT

Russell 2000 Index

$0.00

(0.00%)

, IWM

iShares Trust Russell 2000 Index Fund

$162.27

0.28 (0.17%)

13:25
05/24/18
05/24
13:25
05/24/18
13:25
Technical Analysis
Technical Take: iShares Trust Russell 2000 Index Fund outperforms »

The iShares Trust Russell…

RUT

Russell 2000 Index

$0.00

(0.00%)

IWM

iShares Trust Russell 2000 Index Fund

$162.27

0.28 (0.17%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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NSANY

Nissan

$0.00

(0.00%)

, VLKAY

Volkswagen

$0.00

(0.00%)

13:25
05/24/18
05/24
13:25
05/24/18
13:25
Periodicals
UAW boss welcomes Trump car-import investigation, Bloomberg says »

United Auto Workers union…

NSANY

Nissan

$0.00

(0.00%)

VLKAY

Volkswagen

$0.00

(0.00%)

GM

General Motors

$38.39

0.54 (1.43%)

TM

Toyota

$132.52

-2.33 (-1.73%)

F

Ford

$11.64

0.195 (1.70%)

DDAIF

Daimler AG

$0.00

(0.00%)

HMC

Honda

$32.37

-0.65 (-1.97%)

FCAU

Fiat Chrysler

$22.12

-0.345 (-1.54%)

03/08/13
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03/06/13
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03/06/13
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  • 20

    Jun

  • 10

    Sep

13:25
05/24/18
05/24
13:25
05/24/18
13:25
Conference/Events
The Brookings Institution to hold a discussion on trans-atlantic relations »

An expert panel discusses…

GM

General Motors

$38.39

0.54 (1.43%)

13:24
05/24/18
05/24
13:24
05/24/18
13:24
Periodicals
GM is 'killing it' in China with inexpensive model Baojun, Bloomberg says »

General Motors has been…

03/08/13
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03/08/13
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03/06/13
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  • 20

    Jun

CMCSA

Comcast

$31.56

-0.31 (-0.97%)

, CMCSK

Comcast

$0.00

(0.00%)

13:21
05/24/18
05/24
13:21
05/24/18
13:21
Periodicals
Comcast's Fox proposal further tests antitrust officials, Bloomberg says »

Comcast's (CMCSA)…

CMCSA

Comcast

$31.56

-0.31 (-0.97%)

CMCSK

Comcast

$0.00

(0.00%)

FOXA

21st Century Fox

$38.86

0.12 (0.31%)

FOX

21st Century Fox

$38.38

0.15 (0.39%)

T

AT&T

$32.55

0.23 (0.71%)

TWX

Time Warner

$93.95

-0.04 (-0.04%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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FOLD

Amicus

$16.19

1.04 (6.86%)

13:20
05/24/18
05/24
13:20
05/24/18
13:20
Options
Amicus Therapeutics attracts increased call activity as shares rally »

Amicus Therapeutics…

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  • 13

    Aug

  • 12

    Sep

13:20
05/24/18
05/24
13:20
05/24/18
13:20
General news
Treasury Action: yields steadied above lows »

Treasury Action: yields…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
05/24/18
05/24
13:17
05/24/18
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
05/24/18
05/24
13:16
05/24/18
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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FL

Foot Locker

$46.30

1.27 (2.82%)

, HIBB

Hibbett Sports

$28.60

0.25 (0.88%)

13:15
05/24/18
05/24
13:15
05/24/18
13:15
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

FL

Foot Locker

$46.30

1.27 (2.82%)

HIBB

Hibbett Sports

$28.60

0.25 (0.88%)

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  • 25

    May

  • 25

    May

ROST

Ross Stores

$83.22

0.62 (0.75%)

, ADSK

Autodesk

$138.29

-1.01 (-0.73%)

13:15
05/24/18
05/24
13:15
05/24/18
13:15
Earnings
Notable companies reporting after market close »

Notable companies…

ROST

Ross Stores

$83.22

0.62 (0.75%)

ADSK

Autodesk

$138.29

-1.01 (-0.73%)

DXC

DXC Technology

$99.31

-0.84 (-0.84%)

SPLK

Splunk

$116.29

-0.26 (-0.22%)

GPS

Gap

$33.29

1.32 (4.13%)

VEEV

Veeva

$76.93

0.19 (0.25%)

NTNX

Nutanix

$55.37

-0.875 (-1.56%)

LGF.A

Lionsgate

$23.17

-0.42 (-1.78%)

LGF.B

Lionsgate

$21.90

-0.29 (-1.31%)

DECK

Deckers Brands

$103.58

0.75 (0.73%)

03/08/13
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  • 24

    May

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    May

  • 24

    May

  • 24

    May

  • 24

    May

  • 24

    May

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    May

  • 31

    May

  • 07

    Jun

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    Jun

  • 10

    Jul

TSM

TSMC

$39.23

-0.41 (-1.03%)

13:15
05/24/18
05/24
13:15
05/24/18
13:15
Options
Taiwan Semi put volume heavy and directionally bearish »

Bearish flow noted in…

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ATHN

athenahealth

$154.04

0.52 (0.34%)

13:11
05/24/18
05/24
13:11
05/24/18
13:11
Hot Stocks
athenahealth says board undertaking thorough analysis of Elliott's proposal »

athenahealth issued the…

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  • 05

    Jun

  • 06

    Jun

13:10
05/24/18
05/24
13:10
05/24/18
13:10
General news
Treasury's $30 B 7-year auction was solid »

Treasury's $30 B…

TWTR

Twitter

$33.44

0.01 (0.03%)

13:05
05/24/18
05/24
13:05
05/24/18
13:05
Hot Stocks
Twitter launches Political Campaigning Policy in U.S. »

"We believe…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 30

    May

  • 27

    Jul

OAS

Oasis Petroleum

$12.76

(0.00%)

13:05
05/24/18
05/24
13:05
05/24/18
13:05
Options
Oasis Petroleum call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
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03/06/13
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  • 12

    Jun

13:04
05/24/18
05/24
13:04
05/24/18
13:04
General news
7-Yr Note Auction Coupon Rate data reported »

7-Yr Note Auction Coupon…

13:04
05/24/18
05/24
13:04
05/24/18
13:04
General news
7-Yr Note Auction Total Amount data reported »

7-Yr Note Auction Total…

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