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CBS

CBS

$50.49

-3.32 (-6.17%)

, VIA

Viacom

$33.70

-0.25 (-0.74%)

12:05
05/17/18
05/17
12:05
05/17/18
12:05

CBS says 'may bring further legal action' if needed against NAI, CNBC reports

In a statement shared by CNBC, CBS stated the Delaware Court of Chancery "clearly recognizes that we may bring further legal action to challenge any actions by NAI that we consider to be unlawful, and we will bring such action if needed to protect the interests of all shareholders." Reference Link

CBS

CBS

$50.49

-3.32 (-6.17%)

VIA

Viacom

$33.70

-0.25 (-0.74%)

VIAB

Viacom

$28.63

0.37 (1.31%)

  • 18

    May

CBS CBS
$50.49

-3.32 (-6.17%)

05/17/18
BOFA
05/17/18
DOWNGRADE
BOFA
Neutral
CBS downgraded to Neutral from Buy at BofA/Merrill
05/17/18
05/17/18
DOWNGRADE
Target $58

Neutral
CBS downgraded to Neutral on lawsuit overhang at BofA/Merrill
As previously reported, BofA/Merrill downgraded CBS to Neutral from Buy and cut its price target to $58 from $78. Analyst Jessica Reif said the lawsuit brought by CBS and the special committee alleging a breach of fiduciary duty by the National Amusements Inc. is a significant overhang for shares and will constrain outperformance until a ruling. Further, Reif sees increased risk that CEO Leslie Moonves could leave the company, which would elevate execution risk.
05/17/18
WELS
05/17/18
NO CHANGE
WELS
Market Perform
CBS shares likely return to mid-$60's with no merger, says Wells Fargo
Wells Fargo analyst Marci Ryvicker sees three potential paths unfolding for CBS (CBS) and Viacom (VIAB). The first being CBS remaining a standalone company with Les Moonves in charge. In this scenario the analyst sees CBS shares re-rating to $64, but ultimately being worth $78, and Viacom retreating to $26.50, but being worth $35-$39. The second scenario has CBS and Viacom merging with Moonves in charge. Under this, the new CBS is worth $55 per share with Viacom taken out at $32, Ryvicker tells investors in a research note. Her third scenario has CBS and Viacom merging with Bob Bakish in charge. The analyst values the new CBS at $44 per share in this scenario. At this point, Ryvicker favors a go-it-alone strategy for CBS. She also likes what Bakish is doing at Viacom. The analyst keeps Market Perform rating on both stocks, however, citing the lack of visibility on the outcome or timing.
05/17/18
05/17/18
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. Molson Coors (TAP) downgraded to Hold from Buy at Stifel with analyst Mark Swartzberg saying he sees multiple expansion as unlikely because U.S. beer industry volume trends are getting worse, the company's U.S. share trends are not improving, and demographics favor continued pressure on per capita alcohol consumption. 2. Progressive (PGR) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Meyer Shields citing valuation. 3. CBS (CBS) downgraded to Neutral from Buy at BofA/Merrill with analyst Jessica Reif saying the lawsuit brought by CBS and the special committee alleging a breach of fiduciary duty by the National Amusements Inc. is a significant overhang for shares and will constrain outperformance until a ruling. 4. Canadian National (CNI) downgraded to Neutral on valuation at Macquarie with analyst Konark Gupta citing valuation. 5. Jounce Therapeutics (JNCE) downgraded to Market Perform from Outperform at Wells Fargo with analyst Jim Birchenough saying overall response rates for JTX-2011 monotherapy in gastric cancer and in triple negative breast cancer, as well as for JTX-2011 plus Opdivo in gastric cancer and in triple negative breast cancer are "underwhelming" and "not competitive with other investigational drugs." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
VIA Viacom
$33.70

-0.25 (-0.74%)

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.
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
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.
VIAB Viacom
$28.63

0.37 (1.31%)

TODAY'S FREE FLY STORIES

CPRT

Copart

$55.59

-8.59 (-13.38%)

, KAR

KAR Auction

$61.75

-1.515 (-2.39%)

09:20
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Upgrade
Copart, KAR Auction rating change  »

Copart upgraded to Buy…

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  • 06

    Nov

ATTU

Attunity

$18.83

-0.34 (-1.77%)

, MSFT

Microsoft

$111.71

-1.53 (-1.35%)

09:19
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Attunity wins over $1M deal with global education technology provider »

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MSFT

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$111.71

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    Mar

MYND

MYnd Analytics

$1.90

-0.04 (-2.06%)

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

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09:18
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09/20
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09:18
Options
Overnight activity included 251 trades in SPX and 7 trades in VIX »

251 trades were executed…

SPX

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IRMD

iRadimed

$31.25

-0.15 (-0.48%)

09:15
09/20/18
09/20
09:15
09/20/18
09:15
Recommendations
iRadimed analyst commentary  »

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  • 01

    Oct

TSLA

Tesla

$298.95

14.07 (4.94%)

09:14
09/20/18
09/20
09:14
09/20/18
09:14
Periodicals
NHTSA gives 5-star crash ratings to Tesla Model 3, Electrek reports »

The National Highway…

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  • 20

    Sep

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GRMN

Garmin

$69.18

0.19 (0.28%)

09:14
09/20/18
09/20
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09/20/18
09:14
Recommendations
Garmin analyst commentary  »

Garmin wearables segment…

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  • 24

    Sep

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    Sep

YVR

Liquid Media

$0.83

-0.0271 (-3.17%)

09:13
09/20/18
09/20
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09:13
Hot Stocks
Liquid Media continues listing on Nasdaq »

Liquid Media announced…

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MXIM

Maxim Integrated

$58.14

-0.21 (-0.36%)

, NSANY

Nissan

$0.00

(0.00%)

09:12
09/20/18
09/20
09:12
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09:12
Hot Stocks
Maxim's battery monitoring IC to be integrated into new Nissan LEAF »

Maxim (MXIM) announced…

MXIM

Maxim Integrated

$58.14

-0.21 (-0.36%)

NSANY

Nissan

$0.00

(0.00%)

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09:11
09/20/18
09/20
09:11
09/20/18
09:11
Conference/Events
SEC to hold an investor roundtable »

Investor Roundtable to…

AAWW

Atlas Air

$63.60

0.35 (0.55%)

, BA

Boeing

$365.19

1.65 (0.45%)

09:10
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09:10
Hot Stocks
Atlas Air to operate Boeing 747 for SF Express »

Atlas Air announced that…

AAWW

Atlas Air

$63.60

0.35 (0.55%)

BA

Boeing

$365.19

1.65 (0.45%)

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  • 06

    Nov

09:10
09/20/18
09/20
09:10
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09:10
General news
The Philly Fed bounced to 22.9 »

The Philly Fed bounced to…

09:10
09/20/18
09/20
09:10
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09:10
General news
U.S. equities are on the mend »

U.S. equities are on the…

AMGN

Amgen

$203.22

0.9 (0.44%)

09:10
09/20/18
09/20
09:10
09/20/18
09:10
Hot Stocks
Amgen, County of Los Angeles announce collaboration »

Amgen and the County of…

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  • 26

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CRAY

Cray

$21.65

-0.6 (-2.70%)

09:09
09/20/18
09/20
09:09
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09:09
Hot Stocks
Cray awarded $9M contract for supercomputer, storage system by IBS »

Cray announced that the…

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GPRO

GoPro

$6.34

-0.08 (-1.25%)

09:09
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09/20
09:09
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09:09
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GoPro introduces HERO7 Black with HyperSmooth video stabilization »

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  • 20

    Sep

RCUS

Arcus Biosciences

$14.06

0.76 (5.71%)

09:07
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09/20
09:07
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09:07
Conference/Events
Arcus Biosciences management to meet with SunTrust »

Meeting to be held in…

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  • 20

    Sep

09:06
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09:06
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09:06
Conference/Events
SEC to hold a closed commission meeting »

Closed Commission Meeting…

CAT

Caterpillar

$152.78

3.63 (2.43%)

, SFIX

Stitch Fix

$47.21

-3.275 (-6.49%)

09:06
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Hot Stocks
Fly Intel: Pre-market Movers »

HIGHER: Caterpillar…

CAT

Caterpillar

$152.78

3.63 (2.43%)

SFIX

Stitch Fix

$47.21

-3.275 (-6.49%)

AMZN

Amazon.com

$1,926.27

-14.93 (-0.77%)

FOLD

Amicus

$11.80

0.02 (0.17%)

RIG

Transocean

$12.37

0.44 (3.69%)

DRI

Darden

$117.90

-1.03 (-0.87%)

MLHR

Herman Miller

$37.30

0.2 (0.54%)

THO

Thor Industries

$105.72

2.44 (2.36%)

RHT

Red Hat

$143.38

0.59 (0.41%)

MTEM

Molecular Templates

$6.25

2.15 (52.44%)

SKX

Skechers

$27.84

-0.135 (-0.48%)

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  • 20

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RDS.A

Royal Dutch Shell

$66.26

0.24 (0.36%)

, RDS.B

Royal Dutch Shell

$68.29

0.13 (0.19%)

09:06
09/20/18
09/20
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09:06
Hot Stocks
Royal Dutch Shell expands relationship with Microsoft »

Royal Dutch Shell (RDS.A,…

RDS.A

Royal Dutch Shell

$66.26

0.24 (0.36%)

RDS.B

Royal Dutch Shell

$68.29

0.13 (0.19%)

MSFT

Microsoft

$111.71

-1.53 (-1.35%)

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  • 21

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    Mar

LRAD

LRAD Corporation

$3.01

-0.015 (-0.50%)

09:04
09/20/18
09/20
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LRAD Corporation announces $2.4M in orders from National Guard, U.S. Military »

LRAD Corporation…

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TBK

Triumph Bancorp

$43.85

-0.3 (-0.68%)

09:04
09/20/18
09/20
09:04
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09:04
Recommendations
Triumph Bancorp analyst commentary  »

DA Davidson raises…

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  • 24

    Sep

IMAX

Imax

$25.30

0.25 (1.00%)

09:04
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09/20
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Hot Stocks
Imax, Universal Pictures announce multi-year, multi-picture deal »

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  • 25

    Sep

EDR

EdR

$41.49

(0.00%)

09:02
09/20/18
09/20
09:02
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Hot Stocks
Breaking Hot Stocks news story on EdR »

Education Realty trading…

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SSC

Seven Stars Cloud Group

$4.40

0.02 (0.46%)

09:02
09/20/18
09/20
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Hot Stocks
Ideanomics enters JV with APMEN Trade Tech Co »

Ideanomics is pleased to…

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