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CMCSA

Comcast

$33.77

0.44 (1.32%)

, FOX

21st Century Fox

$47.40

-1.93 (-3.91%)

17:47
07/11/18
07/11
17:47
07/11/18
17:47

Comcast Corp increases superior cash offer for Sky to $34B

Comcast Corporation (CMCSA) published an announcement containing the terms of an increased superior cash offer for the entire issued and to be issued share capital of Sky (SKYAY) to GBP 14.75 per share. This implies a value of $34B (GBP 26B) for the fully diluted share capital of Sky. Additionally, Comcast announced that its increased superior cash offer has been recommended by the Sky Independent Committee of Directors. Comcast has long admired Sky and believes it is an outstanding company and a great fit with Comcast. Today's announcement further underscores Comcast's belief and its commitment to owning Sky. Comcast has committed financing available to satisfy the full cash consideration payable to Sky shareholders under the terms of the acquisition. Comcast has already received relevant regulatory approvals in the EU, Austria, Germany, Italy, and Jersey. Comcast expects to complete the acquisition before the end of October 2018.

CMCSA

Comcast

$33.77

0.44 (1.32%)

FOX

21st Century Fox

$47.40

-1.93 (-3.91%)

SKYAY

Sky

$0.00

(0.00%)

  • 27

    Jul

CMCSA Comcast
$33.77

0.44 (1.32%)

06/26/18
BUCK
06/26/18
INITIATION
BUCK
Neutral
Sky initiated with a Neutral at Buckingham
Earlier today, Buckingham analyst Michael Harrigan initiated Sky (SKYAY) with a Neutral rating and GBP14.50 price target with 3% upside, above Comcast's (CMCSA) GBP12.50 cash bid and a premium to 21st Century Fox's (FOXA) GBP10.75 bid to buy the 61% of Sky it does not already own. The analyst tells investors in a research note that a higher bid assessment could be triggered by the U.K. Takeover Panel exercising its authority to mandate a higher takeout bid if the price paid by Comcast or Disney (DIS) to buy the 21st Century Fox assets that are in play implies a higher bid.
06/27/18
GUGG
06/27/18
NO CHANGE
Target $82
GUGG
Buy
WWE price target raised to $82 from $68 at Guggenheim
After WWE announced new five year deals for RAW and SmackDown yesterday evening, Guggenheim analyst Curry Baker raised his price target on the stock to $82 from $68, noting that the combined average annual value of the deals with Comcast's (CMCSA) USA Network and Fox Sports (FOXA) of $524M was ahead of his $500M a year forecast. Beyond the renewals, Baker sees a number of opportunities remaining for WWE, including renewals in the UK and India, incremental content deals, and WWE Network tiering. He keeps a Buy rating on WWE shares.
07/02/18
BMOC
07/02/18
NO CHANGE
Target $28
BMOC
Market Perform
Shaw Communications Q3 results mixed, says BMO Capital
BMO Capital analyst Tim Casey says the Q3 earnings of Shaw Communications (SJR) yielded "mixed results", albeit with more "positive momentum" in the wireless segment even as the core wireline business was still weak. The analyst notes that adding the wireless product will improve the company's growth over the long term, adding that the wireline may also start to reflect the go-to-market strategy after the full rollout of Comcast's (CMCSA) X1 platform. Casey keeps his Market Perform rating while nudging his price target on Shaw Communications to $28 from $27.50.
07/10/18
FBCO
07/10/18
INITIATION
Target $36
FBCO
Neutral
Comcast initiated with a Neutral at Credit Suisse
Credit Suisse analyst Douglas Mitchelson initiated Comcast with a Neutral rating and a price target of $36. The analyst says the company has "terrific management and assets generating returns, but broadband is maturing and video & voice are in decline. Mitchelson adds that while the Street is still forecasting 5-6% EBITDA growth for years, investors are beginning to discount Comcast going "ex-growth" soon.
FOX 21st Century Fox
$47.40

-1.93 (-3.91%)

06/20/18
KEYB
06/20/18
NO CHANGE
KEYB
KeyBanc sees end of Fox bidding war nearing, with Disney as likely winner
KeyBanc analyst Brandon Nispel does not think Comcast (CMCSA) can bid above $42 in all-cash offer for the assets of 21st Century Fox (FOXA) and maintain reasonable leverage ratios, adding that it may be able to go as high as $45 per share in a cash and stock offer. However, a $45 per share bid, split 80/20 cash and stock, would "hardly be accretive" in the next two years and be perceived negatively by Comcast shareholders, he contends. Given this view, Nispel argues the bidding war is approaching an end and he views Disney (DIS) as the likely winner.
06/25/18
JEFF
06/25/18
NO CHANGE
Target $41
JEFF
Buy
Potential Fox deal 'largely priced' into Comcast shares, says Jefferies
Jefferies analyst John Janedis told investors in a research note that he has noted healthy ad demand this quarter, and combined with "decent" ratings at key cable networks like Bravo, USA and Oxygen, Comcast's (CMCSA) NBCUniversal appears to be performing well. Janedis, who has a Buy rating and $41 price target on Comcast shares, believes a potential Fox (FOXA) deal is "largely priced" into shares and that the stock will trade higher when the dust settles -- either way. Following Disney's (DIS) $38 per share offer for Fox assets, he thinks a competing offer from Comcast would need to be at least $42.50 per share to be viewed as superior, adding that Comcast likely has options for Fox that include more than a straight cash offer.
SKYAY Sky
$0.00

(0.00%)

03/14/18
MACQ
03/14/18
UPGRADE
MACQ
Outperform
Sky upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Guy Peddy upgraded Sky (SKYAY) to Outperform from Neutral after he raised his FY19/20 and FY20/21 EPS by about 16% due to the lower EPL costs. His valuation analysis suggests the current 1075p offer from 21st Century Fox (FOXA) "materially undervalues" Sky and even Comcast's (CMCSA) indicative offer at 1250p "fractionally undervalues" it, Peddy tells investors. What happens next is up to Comcast and Disney (DIS), as Fox is just an intermediary, he added. Peddy raised his price target on Sky shares to 1450p, as he believes tension between those two could lift the offer price at least 10% above his fair value estimate of 1287p.
05/10/18
OPCO
05/10/18
NO CHANGE
Target $42
OPCO
Outperform
Comcast acquisition of Fox would make strategic, financial sense, says Oppenheimer
Oppenheimer analyst Timothy Horan notes that press reports stated Comcast (CMCSA) has lined up $60B in financing to make an all-cash offer for Fox's (FOXA) entertainment assets, representing a 15% premium to Disney's (DIS) offer. While he thinks this has caused half the 30% decline in Comcast's stock year to date, the analyst believes it does make strategic and financial sense, and Comcast has a great track record on acquisitions. Horan thinks a joint NBC/Fox is a content powerhouse while expanding the company's presence in Europe through Sky (SKYAY), and slashing OTT video risk. The analyst reiterates an Outperform rating and $42 price target on Comcast's shares.
06/14/18
OPCO
06/14/18
NO CHANGE
Target $42
OPCO
Outperform
Disney likely to top bid for Fox entertainment assets, says Oppenheimer
Oppenheimer analyst Timothy Horan notes that Comcast (CMCSA) has bid $65B for a cash offer for Fox's (FOXA) entertainment assets, a 19% premium to Disney's offer (DIS). The analyst believes it does make strategic/financial sense, and Comcast has a great track record on acquisitions. Further, Horan thinks a joint NBC/Fox would be a content powerhouse while expanding the company's presence in Europe with Sky (SKYAY), and slashing OTT video risk. Nonetheless, the analyst believes Disney is likely to top the bid. He reiterates an Outperform rating and $42 price target on Comcast's shares.

TODAY'S FREE FLY STORIES

UUUU

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0.03 (1.32%)

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BPI

Bridgepoint Education

$7.01

0.215 (3.17%)

17:08
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HTH

Hilltop Holdings

$21.49

-0.39 (-1.78%)

17:06
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HWC

Hancock Whitney Corporation

$48.35

-0.1 (-0.21%)

17:03
07/17/18
07/17
17:03
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17:03
Earnings
Hancock Whitney Corporation reports Q2 adjusted EPS 96c, consensus 95c »

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  • 18

    Jul

MEOH

Methanex

$71.15

1.4 (2.01%)

17:03
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TXN

Texas Instruments

$115.80

1.21 (1.06%)

17:01
07/17/18
07/17
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17:01
Hot Stocks
Breaking Hot Stocks news story on Texas Instruments »

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  • 24

    Jul

RNST

Renasant

$45.06

0.05 (0.11%)

17:01
07/17/18
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TXN

Texas Instruments

$115.80

1.21 (1.06%)

16:59
07/17/18
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16:59
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16:59
Earnings
Texas Instruments reports Q2 EPS $1.40, consensus $1.31 »

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  • 24

    Jul

DERM

Dermira

$10.57

-0.16 (-1.49%)

16:57
07/17/18
07/17
16:57
07/17/18
16:57
Hot Stocks
Breaking Hot Stocks news story on Dermira »

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UAL

United Continental

$72.66

0.38 (0.53%)

16:53
07/17/18
07/17
16:53
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16:53
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Breaking Hot Stocks news story on United Continental »

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  • 18

    Jul

NLY

Annaly Capital

$10.42

0.04 (0.39%)

, MTGE

MTGE Investment

$19.70

0.05 (0.25%)

16:46
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Hot Stocks
Annaly Capital extends exchange offer to acquire MTGE Investment »

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NLY

Annaly Capital

$10.42

0.04 (0.39%)

MTGE

MTGE Investment

$19.70

0.05 (0.25%)

03/08/13
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TXN

Texas Instruments

$115.80

1.21 (1.06%)

16:42
07/17/18
07/17
16:42
07/17/18
16:42
Hot Stocks
Texas Instruments CEO Brian Crutcher resigns, Rich Templeton to succeed »

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  • 24

    Jul

CSX

CSX

$64.42

0.46 (0.72%)

16:41
07/17/18
07/17
16:41
07/17/18
16:41
Hot Stocks
Breaking Hot Stocks news story on CSX »

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  • 17

    Jul

  • 26

    Aug

WTFC

Wintrust Financial

$88.40

0.25 (0.28%)

16:40
07/17/18
07/17
16:40
07/17/18
16:40
Earnings
Wintrust Financial reports Q2 EPS $1.53, consensus $1.44 »

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  • 18

    Jul

  • 24

    Sep

UBNK

United Financial

$17.40

-0.07 (-0.40%)

16:39
07/17/18
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Earnings
United Financial reports Q2 EPS 31c, consensus 30c »

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  • 18

    Jul

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General news
API crude inventories for week of July 13 »

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CASI

Casi Pharmaceuticals

$7.26

-0.215 (-2.88%)

16:38
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SHAK

Shake Shack

$66.86

1 (1.52%)

16:37
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  • 02

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SAH

Sonic Automotive

$20.45

0.3 (1.49%)

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SAH

Sonic Automotive

$20.45

0.3 (1.49%)

16:34
07/17/18
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Earnings
Sonic Automotive sees Q2 adjusted cont ops EPS 32c-36c, consensus 49c »

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HOPE

Hope Bancorp

$17.52

-0.05 (-0.28%)

16:32
07/17/18
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Hot Stocks
Hope Bancorp raises quarterly dividend to 14c per share from 13c »

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  • 18

    Jul

  • 07

    Nov

NTRS

Northern Trust

$105.64

0.18 (0.17%)

16:32
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  • 18

    Jul

CSX

CSX

$64.42

0.46 (0.72%)

16:32
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  • 17

    Jul

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    Aug

NTRS

Northern Trust

$105.64

0.18 (0.17%)

16:32
07/17/18
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Hot Stocks
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  • 18

    Jul

HOPE

Hope Bancorp

$17.52

-0.05 (-0.28%)

16:31
07/17/18
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Earnings
Hope Bancorp reports Q2 EPS 36c, consensus 37c »

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  • 18

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    Nov

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