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T

AT&T

$32.41

0.3 (0.93%)

16:02
08/07/18
08/07
16:02
08/07/18
16:02

AT&T acquires full ownership of Otter Media

AT&T has acquired The Chernin Group's controlling interest in Otter Media, the joint venture between the two companies. Otter Media, a leading subscription, advertising and content company, comprises wholly-owned subsidiaries Ellation, an online subscription video service provider, with offerings under the Crunchyroll and VRV brands, as well as a full-service digital media company, Fullscreen, and its Rooster Teeth brand. Otter also has ownership stakes in global content studio Gunpowder & Sky, as well as Hello Sunshine, a media company founded by Reese Witherspoon. Otter Media will be a part of AT&T's WarnerMedia unit and Tony Goncalves, who was appointed Otter CEO earlier this year, will continue to run the company, reporting to WarnerMedia CEO, John Stankey. AT&T and The Chernin Group founded Otter Media in 2014 to invest and develop platforms and properties that capitalized on the growth of direct-to-consumer subscription and advertising models, as well as the rise of new digital media brands. AT&T's WarnerMedia unit was created after the close of the Time Warner acquisition in June 2018. The terms of the deal were not disclosed, but it did not have a material effect on AT&T's first-half 2018 results when the majority of the deal was funded. This acquisition does not change the company's plan to reduce its net-debt-to-adjusted-EBITDA ratio to the 2.5x range by the end of 2019 and to its historical range by the end of 2022.

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T AT&T
$32.41

0.3 (0.93%)

07/30/18
BOFA
07/30/18
UPGRADE
BOFA
Buy
AT&T upgraded to Buy from Neutral at BofA/Merrill
07/30/18
07/30/18
UPGRADE
Target $37

Buy
AT&T upgraded to Buy on low valuation, deal benefits at BofA/Merrill
As previously reported, BofA/Merrill upgraded AT&T (T) to Buy from Neutral and maintained a $37 price target. Analyst David Barden is positive on AT&T's 20-year low P/E multiple, Timer Warner (TWX) merger benefits of earnings accretion and expanding cash, favorable emerging wireless business trends, and a call option on value extraction from the merger of AT&T's distribution network with Time Warner's content and ad inventory.
07/30/18
07/30/18
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. AT&T (T) upgraded to Buy from Neutral at BofA/Merrill with analyst David Barden saying he is positive on AT&T's 20-year low P/E multiple, Timer Warner (TWX) merger benefits of earnings accretion and expanding cash, favorable emerging wireless business trends, and a call option on value extraction from the merger of AT&T's distribution network with Time Warner's content and ad inventory. 2. American Airlines (AAL) upgraded to Outperform from Neutral at Macquarie. 3. Avis Budget (CAR) upgraded to Buy from Neutral at Northcoast. 4. Cabot Oil & Gas (COG) upgraded to Positive from Neutral at Susquehanna with analyst Biju Perincheril citing the recent weakness in the shares but he also feels the risk/reward is attractive with many projects providing production growth over the next two years along with accelerating free cash flow generation. 5. Juniper (JNPR) upgraded to Buy from Hold at Deutsche Bank with analyst Vijay Bhagavath saying he's "going against the grain" and making a "contrarian call." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/30/18
07/30/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA UPGRADES AT&T TO BUY: Bank of America Merrill Lynch upgraded AT&T (T) to Buy from Neutral as analyst David Barden is positive on AT&T's 20-year low P/E multiple, Timer Warner merger benefits, favorable emerging wireless business trends, and a call option on value extraction from the merger of AT&T's distribution network with Time Warner's content and ad inventory. He keeps a $37 price target on AT&T shares. DEUTSCHE UPS JUNIPER IN 'CONTRARIAN' CALL: Deutsche Bank analyst Vijay Bhagavath upgraded Juniper Networks (JNPR) to Buy from Hold and raised his price target for the shares to $32 from $25. The analyst said he's "going against the grain" and making a "contrarian call." The post-earnings selloff on the "better than feared" Q2 results and below consensus Q3 guidance, which is primarily related to switch router upgrade timing at a handful of cloud and service provider customers, provides a "reasonable entry point." He believes "robust" switch router and next generation security refresh cycles will start in fiscal 2019 and that Juniper's fundamentals will improve from FY19 through FY21. STIFEL CUTS SYNCHRONOS TO SELL: Stifel analyst Tom Roderick downgraded Synchronoss (SNCR) to Sell from Hold, stating that recent filings reveal that liquidity issues loom, the company is "out of levers, and time is not on their side." The turnaround required to keep the company from fundraising "feels Herculean," added Roderick, who lowered his price target on Synchronoss shares to $3 from $8. BUCKINGHAM SAYS FORCED SALE OF CHARTER ASSETS 'UNLIKELY': Buckingham analyst Matthew Harrigan noted that New York's Public Service Commission has moved to push Charter (CHTR) out of the state and presented the company with a 60 day ultimatum to find a buyer for its assets there due to what it views as "repeated failures" to honor its commitments around the 2016 merger with Time Warner Cable. While he thinks an extended court battle seems "virtually certain," Harrigan does not see much likelihood of any forced disposition of its New York State assets. He keeps a Buy rating and $397 price target on Charter shares.

TODAY'S FREE FLY STORIES

MDT

Medtronic

$92.31

1.91 (2.11%)

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RDY

Dr. Reddy's

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1.19 (3.37%)

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SCCO

Southern Copper

$35.63

-1.615 (-4.34%)

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KBH

KB Home

$19.84

0.37 (1.90%)

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CLDR

Cloudera

$10.69

-0.545 (-4.85%)

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AAPL

Apple

$177.10

-8.7 (-4.68%)

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Apple acquires AI software firm Silk Labs, The Information reports »

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  • 04

    Dec

NVT

nVent Electric

$24.18

-0.35 (-1.43%)

19:20
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Initiation
nVent Electric initiated at Vertical Research »

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  • 28

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FB

Facebook

$132.47

0.85 (0.65%)

19:13
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Russia's FAN sues Facebook, claims to be legitimate news outlet, Reuters says »

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  • 28

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CMCSA

Comcast

$36.75

-1.44 (-3.77%)

, CMCSK

Comcast

$0.00

(0.00%)

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Megyn Kelly seen to leave NBC News with entirety of $69M deal, WSJ says »

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CMCSA

Comcast

$36.75

-1.44 (-3.77%)

CMCSK

Comcast

$0.00

(0.00%)

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  • 03

    Dec

FL

Foot Locker

$46.10

-2.69 (-5.51%)

, ADSK

Autodesk

$122.99

-2.76 (-2.19%)

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FL

Foot Locker

$46.10

-2.69 (-5.51%)

ADSK

Autodesk

$122.99

-2.76 (-2.19%)

BJ

BJ's Wholesale

$19.85

-0.22 (-1.10%)

KEYS

Keysight Technologies

$54.35

-1.23 (-2.21%)

CPRT

Copart

$47.30

-1.255 (-2.58%)

VNET

21Vianet

$11.20

-0.1 (-0.88%)

GPS

Gap

$24.65

-0.79 (-3.11%)

BILI

Bilibili

$13.61

0.575 (4.41%)

DXCM

DexCom

$119.89

-1.34 (-1.11%)

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    Mar

AAPL

Apple

$177.10

-8.7 (-4.68%)

18:46
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Periodicals
Apple in discussions to give vets access to electronic medical records, WSJ says »

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  • 04

    Dec

FB

Facebook

$132.47

0.85 (0.65%)

18:32
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Periodicals
Facebook ads system was down today for some users, Bloomberg says »

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  • 28

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EMCI

EMC Insurance

$32.33

1.1 (3.52%)

18:28
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EMC Insurance announces receipt of proposal from EMCC to buy all of its shares »

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EEX

Emerald Expositions Events

$11.09

0.17 (1.56%)

18:26
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Emerald Expositions Events announces $20M share repurchase program »

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LIVN

LivaNova

$98.00

-22.28 (-18.52%)

18:26
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BKH

Black Hills

$64.40

0.92 (1.45%)

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GOOG

Alphabet

$1,026.00

7 (0.69%)

, GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

18:19
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GOOG

Alphabet

$1,026.00

7 (0.69%)

GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

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SE

Sea Limited

$12.18

-0.52 (-4.09%)

18:04
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Earnings
Sea Limited reports Q3 net loss ($237.6M) vs. ($127.1M) last year »

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BILI

Bilibili

$13.61

0.575 (4.41%)

18:03
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Earnings
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  • 20

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LTM

Latam Airlines

$9.24

-0.4 (-4.15%)

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  • 21

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CE

Celanese

$100.26

-1.53 (-1.50%)

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BA

Boeing

$317.77

-3.09 (-0.96%)

, TSLA

Tesla

$347.60

-5.88 (-1.66%)

17:55
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NASA to investigate workplace culture at Boeing, SpaceX, Reuters says »

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BA

Boeing

$317.77

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TSLA

Tesla

$347.60

-5.88 (-1.66%)

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  • 27

    Nov

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PLWTY

Panalpina World Transport

$0.00

(0.00%)

17:52
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17:52
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Upgrade
Panalpina World Transport rating change at Goldman Sachs »

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VLKAY

Volkswagen

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

(0.00%)

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British Columbia sets path for 100% zero-emission vehicle sales by 2040 »

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VLKAY

Volkswagen

$0.00

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DDAIF

Daimler AG

$0.00

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NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$117.29

0.2 (0.17%)

F

Ford

$9.06

-0.19 (-2.05%)

HMC

Honda

$27.60

-0.46 (-1.64%)

GM

General Motors

$35.09

-0.58 (-1.63%)

FCAU

Fiat Chrysler

$15.83

-0.585 (-3.56%)

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SPY

SPDR S&P 500 ETF Trust

$264.12

-5.16 (-1.92%)

, SPX

S&P 500

$0.00

(0.00%)

17:45
11/20/18
11/20
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17:45
General news
U.S says China has not changed its 'unfair' trade practices »

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SPY

SPDR S&P 500 ETF Trust

$264.12

-5.16 (-1.92%)

SPX

S&P 500

$0.00

(0.00%)

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