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WWE

WWE

$50.30

6.72 (15.42%)

12:44
05/17/18
05/17
12:44
05/17/18
12:44

WWE shares surge after Hollywood Reporter says ''Smackdown' Up for Grabs'

Shares of World Wrestling Entertainment (WWE) are higher after a Hollywood Reporter story that said that "WWE's Smackdown is being shopped to various networks after [Comcast's (CMCSA, CMCSK)] NBCUniversal -- whose USA Network airs the highly rated pro wrestling matches -- declined to re-up its deal." SMACKDOWN OPEN TO BIDDING: According to the Hollywood Reporter, the Smackdown franchise is available to bidding as NBCU will be concentrating on renewing its agreement for Raw, another WWE wrestling franchise. According to the story, Raw "is expected to close at as much as three times its current value." ANALYST VIEW: Guggenheim analyst Curry Baker said he is keeping his Buy rating and $48 price target on WWE, noting he is "bullish" on the company's TV renewal prospects based on the terms about to be achieved by UFC. Baker says UFC is "on the verge" of renewing its TV right at over $350M in average annual value, which he calls a "baseline minimum" for WWE considering that its RAW and SmackDown programs provide more hours of content -- 260 vs. UFC's 105 -- and at much higher TV ratings than UFC. PRICE ACTION: Shares of World Wrestling Entertainment are up 15% to $50.21 per share in early afternoon trading.

  • 23

    May

WWE WWE
$50.30

6.72 (15.42%)

05/17/18
GUGG
05/17/18
NO CHANGE
Target $48
GUGG
Buy
WWE likely to see 'favorable' TV deal renewal terms, says Guggenheim
Guggenheim analyst Curry Baker is keeping his Buy rating and $48 price target on WWE, saying he is "bullish" on the company's TV renewal prospects based on the terms about to be achieved by UFC. Baker says UFC is "on the verge" of renewing its TV right at over $350M in average annual value, which he calls a "baseline minimum" for WWE considering that its RAW and SmackDown programs provide more hours of content - 260 vs. UFC's 105 - and at much higher TV ratings than UFC.
05/04/18
05/04/18
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. Fluor (FLR) downgraded to Neutral from Outperform at Baird with analyst Andrew Wittmann saying his thesis was based on the early stage commodity cycle recovery and now he sees too few catalysts remaining in a difficult environment for industrials. 2. Diebold (DBD) downgraded to Neutral from Outperform at Credit Suisse with analyst Paul Condra saying he expects a longer turnaround to the story, and prefers a wait-and-see approach as the company's management team moves forward with another round of restructuring initiatives, the details of which have not yet been announced. 3. AMN Healthcare (AMN) downgraded to Neutral from Outperform at Baird with analyst Mark Marcon saying the boost from premium rate assignments appear to be slowing. 4. WWE (WWE) downgraded to Hold from Buy at Benchmark with analyst Mike Hickey citing valuation after the stock's 109% rise over the last year. 5. Colfax (CFX) downgraded to Sector Perform from Outperform at RBC Capital with analyst Seth Weber citing material inflation in the A&GH segment, pressuring continued expansion in margins and organic revenue growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/04/18
SBSH
05/04/18
NO CHANGE
Target $43
SBSH
Neutral
WWE price target raised to $43 from $33 at Citi
Citi analyst Jason Bazinet raised his price target for WWE to $43 citing increased TV rights forecasts. The stock is allying as investors await announcements on TV rights renewals, Bazinet tells investors in a research note. At $41 per share, the market is pricing an 80% step up in TV rights, which is possible, the analyst estimates. He notes that average sports step up is 50%. The analyst keeps a Neutral rating on WWE.
05/04/18
BNCH
05/04/18
DOWNGRADE
BNCH
Hold
WWE downgraded to Hold from Buy at Benchmark
Benchmark analyst Mike Hickey downgraded WWE to Hold from Buy citing valuation after the stock's 109% rise over the last year. Investor speculation is net positive on the company's upcoming TV rights fee negotiations, Hickey added.

TODAY'S FREE FLY STORIES

VFC

VF Corp.

$82.17

0.89 (1.10%)

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PYPL

PayPal

$82.78

1.71 (2.11%)

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PYPL

PayPal

$82.56

1.49 (1.84%)

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JNJ

Johnson & Johnson

$122.16

-1.3 (-1.05%)

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  • 06

    Jun

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General news
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LXFT

Luxoft

$32.80

-10.55 (-24.34%)

15:23
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Downgrade
Luxoft rating change  »

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  • 24

    May

PYPL

PayPal

$82.25

1.18 (1.46%)

15:19
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PayPal at session highs, up 2% to $82.63 as CFO presents at investor day »

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  • 24

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GPS

Gap

$32.87

0.9 (2.82%)

15:19
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Options
Gap options imply 9.6% move in share price post-earnings, above median historical move »

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  • 24

    May

TMUS

T-Mobile

$57.03

0.01 (0.02%)

15:17
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Periodicals
T-Mobile glitch let anyone access customer account data, ZDNet reports »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
05/24/18
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
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NYSE market internals summary »

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AMZN

Amazon.com

$1,605.50

3.73 (0.23%)

15:14
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Periodicals
Family claims Amazon device recorded, shared private conversation, Kiro7 says »

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  • 04

    Jun

ADSK

Autodesk

$139.19

-0.11 (-0.08%)

15:04
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05/24
15:04
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Options
Autodesk options imply 8.1% move in share price post-earnings, above median historical move »

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  • 24

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SJM

J.M. Smucker

$109.22

-0.98 (-0.89%)

15:00
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Notable spread in JM Smucker »

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  • 07

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DB

Deutsche Bank

$12.29

-0.605 (-4.69%)

14:58
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Periodicals
Deutsche Bank shareholders vote down motion to remove Chairman, Reuters says »

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TOT

Total

$61.03

-0.36 (-0.59%)

14:51
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Total acquires 10% interest in Novatek's Arctic LNG 2 project »

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IGLD

Internet Gold

$3.38

0.37 (12.29%)

14:49
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Technical Take: Internet Gold spikes after results »

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NTNX

Nutanix

$56.05

-0.19 (-0.34%)

14:49
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Options
Nutanix options imply 13.3% move in share price post-earnings, above median historical move »

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TAHO

Tahoe Resources

$5.11

-0.195 (-3.68%)

14:45
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Options
Tahoe Resources call volume above normal and directionally bullish »

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NKE

Nike

$72.03

0.71 (1.00%)

, UA

Under Armour

$18.34

0.45 (2.52%)

14:29
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Periodicals
Nike to take MLB on-field rights from Under Armour in 2020 season, SBD says »

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NKE

Nike

$72.03

0.71 (1.00%)

UA

Under Armour

$18.34

0.45 (2.52%)

UAA

Under Armour

$20.50

0.43 (2.14%)

03/08/13
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  • 26

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    Jun

IGLD

Internet Gold

$3.22

0.21 (6.98%)

14:25
05/24/18
05/24
14:25
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14:25
Earnings
Internet Gold jumps 20% to $3.65 after disclosing Q1 results 

Reference Link

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IP

International Paper

$54.61

-0.145 (-0.26%)

14:20
05/24/18
05/24
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14:20
Options
2X average daily option volume in International Paper and calls lead puts 11:1 »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
05/24/18
05/24
14:17
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14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
05/24/18
05/24
14:16
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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YNDX

Yandex

$33.72

-0.83 (-2.40%)

14:15
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05/24
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Options
Yandex put volume heavy and directionally bearish »

Bearish flow noted in…

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