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SSP

E.W. Scripps

$17.42

0.24 (1.40%)

08:32
11/06/18
11/06
08:32
11/06/18
08:32

E.W. Scripps enters into agreement with Massachusetts Mutual Life Insurance

The E.W. Scripps has entered into an agreement with Massachusetts Mutual Life Insurance to purchase a group annuity contract and transfer approximately $50M of the company's pension plan obligations. The transaction will transfer responsibility for the pension benefits to MassMutual for approximately 2,000 Scripps retirees and beneficiaries. MassMutual will begin making benefit payments to the affected plan participants on Jan. 1, 2019. There will be no change to pension plan benefits for plan participants. Through the transaction, Scripps will reduce its pension plan liabilities by approximately $50 million. The purchase of the contract will be funded by assets of the pension plans, and no additional contributions will be required to facilitate the transaction. The transaction is expected to close on Nov. 8. Scripps expects to recognize a one-time non-cash pension settlement charge of between $10M-$12M in the Q4. Impacted retirees and beneficiaries received preliminary notification in August and will be sent additional information later this month.

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  • 29

    Nov

SSP E.W. Scripps
$17.42

0.24 (1.40%)

01/11/18
BNCH
01/11/18
NO CHANGE
BNCH
Strong political environment for broadcasters may be overlooked, says Benchmark
Benchmark analyst Daniel Kurnos said he thinks the particularly strong political environment for broadcasters in 2018 may be being overlooked. Kantar Media/CMAG predicts a 14% increase in 2018 political spending versus 2014 levels, which is ahead of the 8-12% increase most common during comparable political cycles, the analyst noted. Nexstar (NXST) has the greatest overall political exposure among broadcasters in contested states, said Kurnos, who forecasts Nexstar and Meredith (MDP) can grow political revenue 7% and 15%, respectively, compared to 2014. Among the other broadcasters he covers - Gray (GTN), TEGNA (TGNA) and E.W. Scripps (SSP) - Kurnos models flat political revenue vs. 2014 but said this may be "a highly conservative initial outlook."
10/18/18
BNCH
10/18/18
NO CHANGE
Target $20
BNCH
Buy
E.W. Scripps deal for Triton a 'savvy' acquisition, says Benchmark
Benchmark analyst Daniel Kurnos views E.W. Scripps' agreement to purchase digital audio infrastructure and measurement company Triton as a "savvy SaaS acquisition," noting that the price paid falls at the low end of the range for SaaS software vendors in terms of both revenue and EBITDA multiples. He sees the potential for Triton to "vastly exceed its purchase price" and noted that Scripps management made it clear that the acquisition did not bar them from aggressively participating in the TV M&A landscape, Kurnos tells investors. He maintains a Buy rating and $20 price target on E.W. Scripps shares.

TODAY'S FREE FLY STORIES

SPX

S&P 500

$0.00

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, SPY

SPDR S&P 500 ETF Trust

$272.08

-0.76 (-0.28%)

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SPDR S&P 500 ETF Trust

$272.55

-0.29 (-0.11%)

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$272.55

-0.29 (-0.11%)

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IQ

iQIYI

$20.54

-0.53 (-2.52%)

12:40
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4K Jun 22.5 calls on iQiyi trade $3.40 »

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FB

Facebook

$138.09

-5.77 (-4.01%)

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LYB

LyondellBasell

$94.38

0.95 (1.02%)

, BAK

Braskem

$27.66

0.56 (2.07%)

12:30
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12:30
Periodicals
LyondellBasell close to presenting binding offer for Braskem, Reuters says »

LyondellBasell (LYB) is…

LYB

LyondellBasell

$94.38

0.95 (1.02%)

BAK

Braskem

$27.66

0.56 (2.07%)

PBR

Petrobras

$14.87

0.32 (2.20%)

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CTSH

Cognizant

$68.91

0.24 (0.35%)

12:30
11/16/18
11/16
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11/16/18
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Options
Call buying in Cognizant Tech as the company hosts an Investor Day Friday »

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BAK

Braskem

$27.74

0.64 (2.36%)

, LYB

LyondellBasell

$94.44

1.01 (1.08%)

12:26
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11/16/18
12:26
Hot Stocks
Breaking Hot Stocks news story on Braskem, LyondellBasell »

Braskem up 54c to $27.68…

BAK

Braskem

$27.74

0.64 (2.36%)

LYB

LyondellBasell

$94.44

1.01 (1.08%)

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EADSY

Airbus

$0.00

(0.00%)

12:25
11/16/18
11/16
12:25
11/16/18
12:25
Periodicals
Airbus, Dassault plan to submit bid for early work on new jet, Reuters says »

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12:25
11/16/18
11/16
12:25
11/16/18
12:25
Conference/Events
UBS alternative energy analyst to hold an analyst/industry conference call »

Alternative Energy…

LYB

LyondellBasell

$94.48

1.05 (1.12%)

12:24
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12:24
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LyondellBasell close to presenting binding offer for Braskem, Reuters says »

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XLB

S&P Select Materials SPDR

$54.66

-0.04 (-0.07%)

12:20
11/16/18
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Bearish option flow in Materials Sector ETF »

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12:20
11/16/18
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General news
More from Evans: the short-term policy rate is the first instrument »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
11/16/18
11/16
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NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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NYSE market internals summary »

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AGN

Allergan

$157.34

-2.06 (-1.29%)

12:09
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Allergan wins ruling over generic Saphris, Bloomberg reports »

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NVDA

Nvidia

$166.50

-36.15 (-17.84%)

, AMAT

Applied Materials

$34.39

-0.64 (-1.83%)

12:05
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OnTheFly
Fly Intel: Wall Street's top stories at midday »

Stocks opened sharply…

NVDA

Nvidia

$166.50

-36.15 (-17.84%)

AMAT

Applied Materials

$34.39

-0.64 (-1.83%)

SONO

Sonos

$15.21

1.07 (7.57%)

PCG

PG&E

$23.93

6.16 (34.67%)

TRN

Trinity Industries

$22.61

0.87 (4.00%)

ACHC

Acadia

$30.63

-7.22 (-19.08%)

JWN

Nordstrom

$50.83

-8.14 (-13.80%)

WSM

Williams-Sonoma

$53.26

-7.34 (-12.11%)

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JWN

Nordstrom

$51.02

-7.95 (-13.48%)

12:00
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11/16
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12:00
Hot Stocks
Nordstrom falls -13.5% »

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WAIR

Wesco Aircraft

$9.54

-1.705 (-15.17%)

12:00
11/16/18
11/16
12:00
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12:00
Hot Stocks
Wesco Aircraft falls -15.2% »

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PCG

PG&E

$24.00

6.23 (35.06%)

12:00
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11/16
12:00
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12:00
Hot Stocks
Fitch downgrades PG&E Corp and utility sub to 'BBB-' on negative watch »

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$3.98

-0.735 (-15.59%)

12:00
11/16/18
11/16
12:00
11/16/18
12:00
Hot Stocks
VelocityShares 3x Inv Natural Gas ETN falls -15.3% »

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XME

SPDR S&P Metals & Mining

$31.10

0.15 (0.48%)

12:00
11/16/18
11/16
12:00
11/16/18
12:00
Options
Bullish option flow in SPDR Metals and Mining Fund »

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$130.80

20.3 (18.37%)

12:00
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11/16
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Hot Stocks
VelocityShares 3x Long Natural Gas ETN rises 18.4% »

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NGVC

Natural Grocers

$20.28

3.62 (21.73%)

12:00
11/16/18
11/16
12:00
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12:00
Hot Stocks
Natural Grocers rises 21.7% »

Natural Grocers is up…

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