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LMCA

Liberty Media

$0.00

(0.00%)

, IHRT

iHeartMedia

$0.00

(0.00%)

06:41
07/10/18
07/10
06:41
07/10/18
06:41

Liberty Media continues to express interest in iHeartMedia, WSJ reports

Liberty Media Corp. (LMCA) has continued to express interest in bankrupt iHeartMedia (IHRT), despite officially abandoning a plan to purchase a stake in the radio broadcaster last month, potentially setting up a bidding battle with private equity firm Silver Lake, the Wall Street Journal reports, citing people familiar with the matter. Liberty, which owns a controlling interest in Sirius XM (SIRI), is working to revamp its initial offer of roughly $1.2B for a 40% stake, which comes as Silver Lake has made a bid to purchase 20% of iHeart. Reference Link

LMCA

Liberty Media

$0.00

(0.00%)

IHRT

iHeartMedia

$0.00

(0.00%)

SIRI

Sirius XM

$7.04

0.035 (0.50%)

  • 13

    Aug

  • 14

    Aug

LMCA Liberty Media
$0.00

(0.00%)

10/19/17
FBNS
10/19/17
NO CHANGE
FBNS
FBN wonders if Liberty Media should buy rest of Live Nation
Liberty Media (LMCA) currently owns 69.6M shares of Live Nation Entertainment (LYV), or 34.4% of the outstanding shares, FBN Securities analyst Robert Routh tells investors in a research note. The stake cannot go above 35% without approval from the Live Nation board or if Liberty tenders for all the equity it does already own, the analyst points out. Liberty Media tracks its stake via Liberty Formula One Group (FWONA). Routh notes. Liberty Media's restriction on Live Nation is the same one that was in place with HSN, Inc. (HSNI), which QVC Group (QVCA) recently agreed to purchase in its entirety. The analyst wonders if it makes sense for Liberty, given where Formula One is trading, to attempt to tender for the rest of Live Nation now, using equity as the deal currency. Such a move would not only put 100% of Live Nation under the Liberty Media umbrella, it would also make it easy for Liberty to highlight the value of Formula 1, Live Nation or both without any "onerous" tax consequences, Routh contends. Shares of Live Nation are up 17c to $42.76 in midday trading.
07/03/18
IMPC
07/03/18
NO CHANGE
Target $32
IMPC
Outperform
Discovery will not bid for Fox regional sports networks, says Imperial Capital
Imperial Capital analyst David Miller says Discovery (DISCA) is seeing "unnecessary selling pressure" on media reports that the company is a potential bidder for the Fox regional sports networks, which Disney (DIS), through its pending acquisition of the entertainment assets of 21st Century Fox (FOXA), will have to divest, as per the Department of Justice decree. The analyst believes potential bidders for these assets will include Charter (CHTR), Liberty Media (LMCA), Altice (ATUS), and various private equity entities, but not Discovery. Discovery is fully occupied with the integration of Scripps Networks, the sale of its headquarters building in Bethesda, Maryland, as well as ratings issues at its core Discovery Channel, Miller tells investors in a research note. Further, he notes that Discovery already pledged $2B in additional sports rights to broadcast various PGA Tour events via its networks outside of the U.S. through 2030. As such, the analyst thinks the recent pullback has created an "attractive opportunity to either establish new positions, or for existing holders to lower their bases." Miller keeps an Outperform rating on Discovery with a $32 price target.
IHRT iHeartMedia
$0.00

(0.00%)

06/26/18
LEHM
06/26/18
DOWNGRADE
Target $43
LEHM
Equal Weight
Liberty SiriusXM downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Kannan Venkateshwar downgraded Liberty SiriusXM (LSXMA) to Equal Weight from Overweight and cut his price target to $43 from $50, telling investors in a research note that while he has recommended the stock over SiriusXM (SIRI), which was downgraded this morning to Underweight from Equal Weight, given the changing story in SiriusXM equity and its valuation, the current ~30% NAV discount may close due to SiruxXM coming down rather than Liberty SiriusXM going up. The analyst said it is "not surprising" Liberty has been looking at other uses of cash such as iHeart (IHRT) instead of buying more stock.
SIRI Sirius XM
$7.04

0.035 (0.50%)

06/28/18
JPMS
06/28/18
NO CHANGE
Target $6
JPMS
Underweight
JPMorgan views potential SiriusXM, Live Nation deal as unlikely
JPMorgan analyst Sebastiano Petti raised his price target for SiriusXM Radio to $6 from $5 while maintaining an Underweight rating on the shares. The analyst continues to view the valuation as full amid his expectations for slower growth in the years ahead as the business matures. Moderating subscriber gains and a more competitive steaming music landscape have led SiriusXM to explore investments in adjacent platforms in order to fuel additional growth, Petti tells investors in a research note. The analyst, however, does not see the industrial logic of potentially combining SiriusXM with Live Nation (LYV), something he notes that parent Liberty Media has suggested in the past. Petti sees a near-term deal as unlikely and also does not see SiriusXM as a potential takeover target.
06/29/18
BRRR
06/29/18
UPGRADE
BRRR
Outperform
SiriusXM upgraded to Outperform from Market Perform at Barrington
06/29/18
BRRR
06/29/18
UPGRADE
Target $8
BRRR
Outperform
Barrington upgrades Sirius XM to Outperform following recent pullback
Barrington analyst James Goss upgraded Sirius XM Holdings to Outperform from Market Perform with an $8 price target. The stock closed yesterday up 17c to $6.82. The analyst remains impressed with the longer-term story Sirius continues to offer and considers the recent downward move in the stock price as providing a buying opportunity. With the stock down about 12% from the recent peak, it seems reasonable to now restore an Outperform rating, Goss tells investors in a research note.
06/29/18
06/29/18
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. KB Home (KBH) upgraded to Buy from Underperform at BofA/Merrill with analyst John Lovallo saying KB Home's execution, margins and returns have exceeded his expectations for numerous quarters and expects solid homebuilding growth through 2020. 2. Sirius XM (SIRI) upgraded to Outperform from Market Perform at Barrington with analyst James Goss stating he is impressed with the longer-term story Sirius continues to offer and considers the recent downward move in the stock price as providing a buying opportunity. 3. Matador (MTDR) upgraded to Buy from Hold at KLR Group with analyst Gail Nicholson saying the company offers investors "solid" execution, a "strong" balance sheet and numerous catalysts which could unlock incremental value. 4. Duluth Holdings (DLTH) upgraded to Outperform from Market Perform at William Blair with analyst Dylan Carden stating he has greater conference that the direct channel will stabilize and even likely accelerate as new retail markets enter their second year. 5. American Express (AXP) upgraded to Buy from Neutral at Buckingham with analyst Chris Brendler citing the DOJ case being resolved and evidence of "compelling momentum" across its platform. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

ARNC

Arconic

$19.08

1.69 (9.72%)

, APO

Apollo Global

$35.82

-0.31 (-0.86%)

10:23
07/16/18
07/16
10:23
07/16/18
10:23
Recommendations
Arconic, Apollo Global analyst commentary  »

Arconic could be worth…

ARNC

Arconic

$19.08

1.69 (9.72%)

APO

Apollo Global

$35.82

-0.31 (-0.86%)

03/08/13
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  • 02

    Aug

MSFT

Microsoft

$105.56

0.14 (0.13%)

10:20
07/16/18
07/16
10:20
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10:20
Options
Notable spread in Microsoft ahead of earnings »

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    Aug

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    Sep

10:20
07/16/18
07/16
10:20
07/16/18
10:20
General news
The 0.4% U.S. May business inventory rise »

The 0.4% U.S. May…

LPG

Dorian LPG

$7.95

0.03 (0.38%)

10:19
07/16/18
07/16
10:19
07/16/18
10:19
Hot Stocks
Dorian LPG confirms receipt of director nominations from BW LPG »

Dorian LPG confirmed that…

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  • 01

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
07/16/18
07/16
10:17
07/16/18
10:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
07/16/18
07/16
10:16
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10:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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10:15
07/16/18
07/16
10:15
07/16/18
10:15
General news
FX Action: USD-CAD »

FX Action: USD-CAD has…

10:15
07/16/18
07/16
10:15
07/16/18
10:15
General news
Treasury Action: yields remained elevated »

Treasury Action: yields…

NFLX

Netflix

$399.49

3.57 (0.90%)

, PH

Parker-Hannifin

$157.79

-3.79 (-2.35%)

10:14
07/16/18
07/16
10:14
07/16/18
10:14
Initiation
On The Fly: Top five analyst initiations »

Catch up on today's…click here.

NFLX

Netflix

$399.49

3.57 (0.90%)

PH

Parker-Hannifin

$157.79

-3.79 (-2.35%)

ROK

Rockwell Automation

$168.02

-3.1 (-1.81%)

FDX

FedEx

$231.55

-2.2 (-0.94%)

HAS

Hasbro

$94.14

-2.365 (-2.45%)

XON

Intrexon

$14.90

-0.48 (-3.12%)

03/08/13
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  • 16

    Jul

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  • 25

    Jul

  • 17

    Sep

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    Sep

  • 21

    Sep

NFLX

Netflix

$399.49

3.57 (0.90%)

, PH

Parker-Hannifin

$157.79

-3.79 (-2.35%)

10:14
07/16/18
07/16
10:14
07/16/18
10:14
Downgrade
On The Fly: Top five analyst downgrades »

Catch up on today's…click here.

NFLX

Netflix

$399.49

3.57 (0.90%)

PH

Parker-Hannifin

$157.79

-3.79 (-2.35%)

ROK

Rockwell Automation

$168.02

-3.1 (-1.81%)

FDX

FedEx

$231.55

-2.2 (-0.94%)

HAS

Hasbro

$94.14

-2.365 (-2.45%)

XON

Intrexon

$14.90

-0.48 (-3.12%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 16

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    Jul

  • 17

    Sep

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    Sep

WFC

Wells Fargo

$56.39

1.04 (1.88%)

, VFC

VF Corp.

$87.64

2.8 (3.30%)

10:14
07/16/18
07/16
10:14
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10:14
Upgrade
On The Fly: Top five analyst upgrades »

Catch up on today's…click here.

WFC

Wells Fargo

$56.39

1.04 (1.88%)

VFC

VF Corp.

$87.64

2.8 (3.30%)

UPS

UPS

$111.28

2.3 (2.11%)

ALV

Autoliv

$106.19

0.46 (0.44%)

SAR

Saratoga Investment

$24.31

-0.32 (-1.30%)

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

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  • 17

    Jul

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    Jul

  • 06

    Aug

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    Aug

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    Aug

  • 12

    Apr

  • 13

    Jul

  • 15

    Oct

BAC

Bank of America

$29.10

0.565 (1.98%)

10:14
07/16/18
07/16
10:14
07/16/18
10:14
Hot Stocks
Bank of America reports June default rate 2.66% vs. 2.98% last month »

Reports 30-plus day…

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  • 16

    Jul

RDY

Dr. Reddy's

$30.40

-2.86 (-8.60%)

10:13
07/16/18
07/16
10:13
07/16/18
10:13
Technical Analysis
Technical Take: Dr. Reddy's falls after injunction against Suboxone generic »

The stock was last down…

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GOGO

Gogo

$3.86

-0.17 (-4.22%)

10:10
07/16/18
07/16
10:10
07/16/18
10:10
Recommendations
Gogo analyst commentary  »

Gogo transformation plan…

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FOXA

21st Century Fox

$46.67

-0.885 (-1.86%)

10:10
07/16/18
07/16
10:10
07/16/18
10:10
Options
Repeat of bullish three-way spreads in 21st Century Fox »

Repeat of bullish…

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  • 27

    Jul

10:10
07/16/18
07/16
10:10
07/16/18
10:10
General news
U.S. business inventories rose 04% in May, with sales up 1.4%, as forecast »

U.S. business inventories…

CNXN

Connection

$34.08

(0.00%)

10:03
07/16/18
07/16
10:03
07/16/18
10:03
Downgrade
Connection rating change  »

Connection downgraded to…

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TSLA

Tesla

$308.63

-10.17 (-3.19%)

10:01
07/16/18
07/16
10:01
07/16/18
10:01
Technical Analysis
Technical Take: Tesla has a small potential bearish pattern »

The shares were last down…

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10:01
07/16/18
07/16
10:01
07/16/18
10:01
General news
Business Inventories data reported »

May Business Inventories…

SBH

Sally Beauty

$15.59

-0.78 (-4.76%)

10:00
07/16/18
07/16
10:00
07/16/18
10:00
Hot Stocks
Sally Beauty falls -4.9% »

Sally Beauty is down…

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  • 11

    Sep

ADS

Alliance Data

$229.04

-14.45 (-5.93%)

10:00
07/16/18
07/16
10:00
07/16/18
10:00
Hot Stocks
Alliance Data falls -5.9% »

Alliance Data is down…

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  • 19

    Jul

  • 08

    Aug

RDY

Dr. Reddy's

$30.50

-2.76 (-8.30%)

10:00
07/16/18
07/16
10:00
07/16/18
10:00
Hot Stocks
Dr. Reddy's falls -8.1% »

Dr. Reddy's is down…

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03/06/13
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DWT

Britannia Bulk

$7.20

0.39 (5.73%)

10:00
07/16/18
07/16
10:00
07/16/18
10:00
Hot Stocks
Britannia Bulk rises 5.6% »

Britannia Bulk is up…

03/08/13
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QEP

QEP Resources

$12.34

-0.42 (-3.29%)

10:00
07/16/18
07/16
10:00
07/16/18
10:00
Options
3K Qep Resources Aug 13 - 14 call spreads bought for 33c »

3K Qep Resources Aug 13 -…

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  • 26

    Jul

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    Aug

DB

Deutsche Bank

$12.11

0.865 (7.70%)

10:00
07/16/18
07/16
10:00
07/16/18
10:00
Hot Stocks
Deutsche Bank rises 7.7% »

Deutsche Bank is up 7.7%,…

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