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CBS

CBS

$53.65

1.14 (2.17%)

, VZ

Verizon

$48.49

-0.15 (-0.31%)

09:06
05/15/18
05/15
09:06
05/15/18
09:06

Verizon showed interest in potentially buying CBS, Deadline reports

After CBS (CBS) disclosed the interest of another would-be acquirer in court documents, multiple sources told Deadline that Verizon (VZ) had been involved in high-level discussions and expressed interest in acquiring the media company before merger talks heated up with Viacom (VIAB). Shari Redstone, who controls CBS through National Amusements, had discouraged the potential bidder from making an offer, the network operator claimed in its court filing, Deadline noted. Reference Link

CBS

CBS

$53.65

1.14 (2.17%)

VZ

Verizon

$48.49

-0.15 (-0.31%)

VIA

Viacom

$34.65

-0.55 (-1.56%)

VIAB

Viacom

$28.73

-1.47 (-4.87%)

  • 15

    May

  • 18

    May

CBS CBS
$53.65

1.14 (2.17%)

05/07/18
SPHN
05/07/18
NO CHANGE
Target $58
SPHN
Equal Weight
CBS-Viacom deal could work at Class B shareholders' expense, says Stephens
Stifel analyst Kyle Evans contends that CBS (CBS) posted the kind of quarter that should fundamentally separate the company from many media peers. However, he said there is no more clarity following its report on whether its Class A shareholders will push for a combination with Viacom (VIAB) that "undermines Class B holders." Evans lowered his price target on CBS to $58 from $64 and maintains an Equal Weight rating on the stock.
05/15/18
BERN
05/15/18
UPGRADE
BERN
Outperform
CBS upgraded to Outperform from Market Perform at Bernstein
05/15/18
05/15/18
UPGRADE
Target $65

Outperform
CBS upgraded to Outperform at Bernstein
As previously reported, Bernstein upgraded CBS (CBS) to Outperform from Market Perform, with a $65 price target, as it views the probability of a CBS-Viacom (VIAB) re-merger as close to zero, for many years to come. While the firm remains very concerned about the health of TV networks, generally, and has plenty of specific concerns about CBS, it believes that as a stand-alone entity it has the cleanest story in all of media. Bernstein reiterates an Underperform rating on Viacom.
05/15/18
SBSH
05/15/18
NO CHANGE
Target $66
SBSH
Buy
Citi drops likelihood of CBS-Viacom merger to 25% from 50%
Citi analyst Jason Bazinet dropped his likelihood of a CBS (CBS), Viacom (VIAB) merger to 25% from 50% after CBS filed a Delaware lawsuit asking for a restraining order to prevent Shari Redstone from interfering with a special CBS board meeting. The analyst now sees a lower chance of CBS acquiring Viacom. As such, he increased his price target for CBS shares to $66 from $61 and lowered his price target for Viacom shares to $29 from $30.
VZ Verizon
$48.49

-0.15 (-0.31%)

05/11/18
JPMS
05/11/18
UPGRADE
Target $58
JPMS
Overweight
Verizon upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick upgraded Verizon Communications to Overweight with a $58 price target. The shares at current levels offer a 5% yield and a "free option" on 5G, Cusick tells investors in a research note.
04/30/18
MSCO
04/30/18
NO CHANGE
MSCO
Morgan Stanley discusses T-Mobile deal implications for competitors, towers
After T-Mobile (TMUS) and Sprint (S) announced a merger agreement, Morgan Stanley analyst Simon Flannery said that while the $43B in estimated synergies is "impressive," the key question is how likely is it that the companies can gain regulatory approval. On competition, he thinks the deal may contribute to a more benign competitive environment in the near-term and that AT&T (T) and Verizon (VZ) could benefit from market consolidation, though he adds that the new T-Mobile would be a formidable competitor in new areas such as 5G and fixed broadband. Flannery added that the deal will be an overhang on tower and fiber providers, noting that part of their $4B in annual network synergies involves a reduction in tower counts from 110,000 to 85,000 over time. However, the analyst said he would expect much more gear to be deployed on each tower and small cells will still expand to 50,000 from 10,000. Tower operators include American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC), which are all lower in pre-market trading.
05/11/18
05/11/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Verizon (VZ) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying after a meeting with CEO Lowell McAdam, he has a better understanding that Verizon's "organic approach to wireless has the company on an increasingly stable footing." 2. Mosaic (MOS) upgraded to Outperform from Sector Perform at RBC Capital with analyst Andrew Wong saying that it is "hard to ignore the improving undercurrents in both phosphate and potash markets." 3. Ultragenyx (RARE) upgraded to Overweight from Equal Weight at Barclays with analyst Gena Wang saying she thinks a higher price target for Crysvita could drive upside to revenue growth expectations. 4. U.S. Bancorp (USB) upgraded to Buy from Neutral at Citi with analyst Keith Horowitz saying now is an opportune time to build positions in the stock after three years of significant underperformance. 5. AMC Networks (AMCX) upgraded to Buy from Hold at Gabelli with the firm saying it remains an excelling company with opportunities to leverage its recent programming momentum into increased advertising and affiliate fees. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/11/18
JPMS
05/11/18
UPGRADE
Target $58
JPMS
Overweight
After meeting with CEO, JPMorgan upgrades Verizon to Overweight
JPMorgan analyst Philip Cusick upgraded Verizon Communications to Overweight from Neutral with an unchanged price target of $58. The shares closed yesterday up 81c to $47.20. After meeting with CEO Lowell McAdam, Cusick says he has a better understanding that Verizon's "organic approach to wireless has the company on an increasingly stable footing." Further, the analyst believes Verizon's 5G opportunity "will start to crystallize in the next few months." Cusick expects the company's revenue to stabilize and notes the stock is down 11% this year. The analyst is positive on the 5% dividend yield and "free 5G optionality."
VIA Viacom
$34.65

-0.55 (-1.56%)

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.
04/30/18
BARD
04/30/18
NO CHANGE
Target $33
BARD
Neutral
Twitter's new partnerships highlight 'growing relevance,' says Baird
Disney's (DIS) and Viacom's (VIAB) announced live content/streaming partnerships with Twitter (TWTR) highlight Twitter's "growing relevance as a distribution platform," Baird analyst Colin Sebastian tells investors in a research note. He believes the partnerships should provide tailwinds for Twitter's video advertising business. Video accounts for greater than 50% of Twitter ad revenue and is its fastest growing ad format, Sebastian points out. The analyst says Disney and Viacom represent two of the company's biggest partnership wins to-date. He keeps a Neutral rating on Twitter with a $30 price target. The stock closed the trading day up 4.5% to $30.31.
VIAB Viacom
$28.73

-1.47 (-4.87%)

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.

TODAY'S FREE FLY STORIES

INGIY

Ingenico

$0.00

(0.00%)

20:59
09/18/18
09/18
20:59
09/18/18
20:59
Upgrade
Ingenico rating change  »

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  • 21

    Oct

MSFT

Microsoft

$113.24

1.05 (0.94%)

20:52
09/18/18
09/18
20:52
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20:52
Hot Stocks
Microsoft announces new AI and mixed reality business applications for Dynamics »

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  • 21

    Oct

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    Oct

  • 03

    Mar

BWA

BorgWarner

$42.99

-1.17 (-2.65%)

19:34
09/18/18
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19:34
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19:34
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BorgWarner sees operating margins in low-13% by FY23 vs 12.4% in FY17 »

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  • 18

    Sep

  • 25

    Oct

JLL

Jones Lang LaSalle

$144.15

0.795 (0.55%)

19:31
09/18/18
09/18
19:31
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19:31
Hot Stocks
Jones Lang LaSalle CFO Christie Kelly resigns »

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  • 25

    Sep

  • 26

    Sep

RACE

Ferrari

$138.31

5.465 (4.11%)

19:24
09/18/18
09/18
19:24
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19:24
Earnings
Ferrari sees FY18 revenue over EUR3.4B »

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03/08/13
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  • 18

    Sep

SMRT

Stein Mart

$1.97

-0.09 (-4.37%)

, INAP

Internap

$12.39

-0.33 (-2.59%)

19:02
09/18/18
09/18
19:02
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19:02
Hot Stocks
Fly Intel: After Hours Movers »

HIGHER: Stein Mart (SMRT)…

SMRT

Stein Mart

$1.97

-0.09 (-4.37%)

INAP

Internap

$12.39

-0.33 (-2.59%)

TRVG

Trivago

$5.13

0.26 (5.34%)

PRQR

ProQR Therapeutics

$20.25

-1.4 (-6.47%)

MSFT

Microsoft

$113.24

1.05 (0.94%)

EVOP

EVO Payments

$26.27

-0.42 (-1.57%)

TSM

TSMC

$43.57

-0.2 (-0.46%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 21

    Oct

  • 28

    Oct

  • 12

    Nov

  • 15

    Nov

  • 03

    Mar

  • 21

    Sep

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$290.96

1.55 (0.54%)

18:58
09/18/18
09/18
18:58
09/18/18
18:58
Periodicals
China to place new tariffs on $60B in U.S. exports, WSJ says »

China's government…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$290.96

1.55 (0.54%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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SQ

Square

$87.97

1.1 (1.27%)

18:55
09/18/18
09/18
18:55
09/18/18
18:55
Periodicals
Square seeks to bring 'omnichannel' experience to restaurants, CNBC says »

Square CFO Sarah Friar…

03/08/13
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  • 18

    Sep

  • 19

    Sep

  • 20

    Sep

  • 26

    Sep

MSFT

Microsoft

$113.24

1.05 (0.94%)

18:48
09/18/18
09/18
18:48
09/18/18
18:48
Hot Stocks
Microsoft confirms raised quarterly dividend payment to 46c from 42c per share »

The dividend is payable…

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  • 21

    Oct

  • 28

    Oct

  • 03

    Mar

KL

Kirkland Lake Gold

$17.57

-0.64 (-3.51%)

18:39
09/18/18
09/18
18:39
09/18/18
18:39
Hot Stocks
Kirkland Lake Gold acquires shares of Osisko Mining »

Kirkland Lake Gold…

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  • 23

    Sep

MSFT

Microsoft

$113.24

1.05 (0.94%)

18:39
09/18/18
09/18
18:39
09/18/18
18:39
Hot Stocks
Breaking Hot Stocks news story on Microsoft »

Microsoft raises…

03/08/13
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  • 21

    Oct

  • 28

    Oct

  • 03

    Mar

OMAB

OMA Airports

$56.18

2.13 (3.94%)

18:23
09/18/18
09/18
18:23
09/18/18
18:23
Downgrade
OMA Airports rating change at Santander »

OMA Airports downgraded…

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CE

Celanese

$113.41

-0.03 (-0.03%)

18:01
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09/18
18:01
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18:01
Hot Stocks
Celanese raises prices for acetate tow in Eastern Europ and Asia by $1/kg »

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WYNN

Wynn Resorts

$132.97

0.56 (0.42%)

17:58
09/18/18
09/18
17:58
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17:58
Periodicals
Wynn sued over allegations of rigging Boston casino bid, Bloomberg says »

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GLD

SPDR Gold Trust

$113.43

-0.18 (-0.16%)

17:48
09/18/18
09/18
17:48
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17:48
Hot Stocks
SPDR Gold Trust holdings fall to 742.23MT from 742.53MT »

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JAZZ

Jazz Pharmaceuticals

$161.89

0.92 (0.57%)

17:35
09/18/18
09/18
17:35
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17:35
Recommendations
Jazz Pharmaceuticals analyst commentary at BMO Capital »

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  • 18

    Sep

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  • 20

    Dec

RIG

Transocean

$11.93

0.335 (2.89%)

17:29
09/18/18
09/18
17:29
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17:29
Initiation
Transocean initiated at Morgan Stanley »

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NE

Noble Corp.

$6.15

0.19 (3.19%)

17:26
09/18/18
09/18
17:26
09/18/18
17:26
Initiation
Noble Corp. initiated at Morgan Stanley »

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  • 24

    Sep

CCOEY

Capcom

17:24
09/18/18
09/18
17:24
09/18/18
17:24
Periodicals
Capcom shutting down Vancouver studio, Kotaku says »

Capcom Vancouver,…

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BBY

Best Buy

$77.70

0.67 (0.87%)

17:24
09/18/18
09/18
17:24
09/18/18
17:24
Syndicate
Breaking Syndicate news story on Best Buy »

Best Buy files automatic…

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DO

Diamond Offshore

$17.86

0.55 (3.18%)

17:22
09/18/18
09/18
17:22
09/18/18
17:22
Initiation
Diamond Offshore initiated at Morgan Stanley »

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TSM

TSMC

$43.57

-0.2 (-0.46%)

17:20
09/18/18
09/18
17:20
09/18/18
17:20
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TSMC rating change at Morgan Stanley »

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WHD

Cactus

$35.93

1.24 (3.57%)

17:17
09/18/18
09/18
17:17
09/18/18
17:17
Initiation
Cactus initiated at Morgan Stanley »

Cactus initiated with an…

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ZTCOY

ZTE Corp.

$0.00

(0.00%)

17:15
09/18/18
09/18
17:15
09/18/18
17:15
Periodicals
Senators seek punishment if ZTE strays from deal, Reuters says »

In a bill, introduced on…

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AKCA

Akcea Therapeutics

$26.58

1.73 (6.96%)

17:15
09/18/18
09/18
17:15
09/18/18
17:15
Syndicate
Breaking Syndicate news story on Akcea Therapeutics »

Akcea Therapeutics files…

03/08/13
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  • 06

    Oct

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