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T

AT&T

$32.02

-0.18 (-0.56%)

, DIS

Disney

$132.02

1.99 (1.53%)

17:14
04/15/19
04/15
17:14
04/15/19
17:14

Hulu acquires AT&T's minority stake in joint venture

AT&T (T) and Hulu (DIS) announced an agreement by which AT&T has sold its minority stake in Hulu back to the streaming video joint venture. The transaction valued Hulu at $15B, with AT&T's 9.5% interest valued at $1.43B. The transaction did not require any governmental or other third-party approvals and was simultaneously signed and closed. AT&T will use proceeds from this transaction, along with additional planned sales of non-core assets, to reduce its debt.

T

AT&T

$32.02

-0.18 (-0.56%)

DIS

Disney

$132.02

1.99 (1.53%)

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T AT&T
$32.02

-0.18 (-0.56%)

03/15/19
03/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Amazon.com (AMZN) upgraded to Overweight from Sector Weight at KeyBanc with analyst Edward Yruma saying Amazon is taking a number of operational moves to improve profitability in core retail, which could drive mid-term earnings above current consensus estimates. 2. AT&T (T) upgraded to Outperform from Market Perform at Raymond James with analyst Frank Louthan saying AT&T shares trade at a relative discount and expects shares to be driven by positive earnings growth combined with a strong de-levering story. 3. Colfax (CFX) upgraded to Equal Weight from Underweight at Barclays with analyst Julian Mitchell saying he views the company's turnaround story as underappreciated. 4. Rent-A-Center (RCII) upgraded to Outperform from Market Perform at Raymond James with analyst Budd Bugatch citing the trial win regarding the terminated buyout with Vintage Capital and a strong fundamental outlook for the upgrade. 5. Global Net Lease (GNL) upgraded to Buy from Neutral at B. Riley FBR with analyst Bryan Maher citing the stock's attractive relative valuation as well as management's acquisition "acumen" for the upgrade to Buy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/19
JPMS
03/27/19
NO CHANGE
JPMS
Fundamentals across cable remain strong, says JPMorgan
Sustained household formation and wage growth, along with a pullback in promotional activity at AT&T (T), the main competitor to most multi-service operators, keeps fundamentals across cable strong, JPMorgan analyst Philip Cusick tells investors in a research note. In 2018, the U.S. added ~1.5m households for the second year in a row, "which sets up the wireline video and broadband ecosystems well in 2019," says the analyst. Altice USA (ATUS) and Charter Communications (CHTR) are both on the JPMorgan's Analyst Focus List, and Comcast (CMCSA) is Cusick's favorite mega-cap service provider. The analyst is "wary" of the multiple of Underweight-rated Cable One (CABO), but admits its operational momentum seems strong.
03/29/19
03/29/19
UPGRADE
Target $35

Buy
Viacom upgraded to Buy at Loop Capital on de-risked AT&T loss
As previously reported, Loop Capital analyst Alan Gould upgraded Viacom (VIAB) to Buy from Hold with a price target of $35. The analyst cites the company's loss of its biggest distributor AT&T (T) having been de-risked which, he believes, raises the likelihood of a Viacom merger with CBS (CBS). Gould adds that despite the renewed distribution deal with AT&T, investors can accumulate shares at a lower price than a few weeks ago, resulting in a "positive risk-reward" for Viacom.
04/05/19
04/05/19
UPGRADE
Target $36

Outperform
Viacom upgraded to Outperform from Sector Perform at RBC Capital
As previously reported, RBC Capital analyst Steven Cahall upgraded Viacom (VIAB) to Outperform from Sector Perform and raised his price target to $36 from $31, saying the company's "less contentious" than feared DirecTV (T) deal improves its standing and "paves the way toward merger talks" with CBS (CBS). The analyst sees an implied upside for Viacom stock at over 30% on the CBS deal prospects and believes that investors should own both to hedge the exchange ratio risk of the potential transaction.
DIS Disney
$132.02

1.99 (1.53%)

04/15/19
BTIG
04/15/19
UPGRADE
BTIG
Neutral
Disney upgraded to Neutral from Sell at BTIG
04/15/19
LOOP
04/15/19
NO CHANGE
Target $140
LOOP
Buy
Disney price target raised to $140 from $130 at Loop Capital
Loop Capital analyst Alan Gould raised his price target on Disney to $140 and kept his Buy rating after its investor day presentation unveiling Disney+. The analyst says the preview offered greater specificity than expected and also "reset earnings expectations" with projections of 60-90M subscribers by 2024. Gould adds that while the related costs were "somewhat higher than anticipated" in FY20-22, the losses expected by FY23 are less than anticipated. The analyst also believes that investors will now be willing to pay a higher than normal premium for Disney shares.
04/15/19
04/15/19
UPGRADE

Neutral
Disney upgraded to Neutral at BTIG on strategy shift
As previously reported, BTIG analyst Richard Greenfield upgraded Disney to Neutral from Sell, saying the rating change was prompted more by the commentary from CEO Bob Iger on CNBC than by the company's investor day presentation unveiling Disney+. The analyst says he was initially inclined to keep his Sell rating given the overly "ambitious" 60M-90M 5-year subscriber target for the product, adding that while it is "nearly impossible to disprove a five-year projection for a service that has not even launched", he saw the $2.5B original content investment by 2024 as too small. Greenfield turned less negative on stock however after the company's CEO Iger signaled that the company is more aware of the need to "realize an even more dramatic shift in strategy" to a more consumer-driven model that will be required as its legacy businesses erode.
04/15/19
04/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Neutral from Sell at BTIG with analyst Richard Greenfield saying the rating change was prompted more by the commentary from CEO Bob Iger on CNBC than by the company's investor day presentation unveiling Disney+. 2. Western Digital (WDC) upgraded to Buy from Neutral at Longbow with analyst Nikolay Todorov saying NAND fundamentals are bottoming and "there is a line of sight to cyclical recovery." 3. Dow Inc. (DOW), Huntsman (HUN), LyondellBasell (LYB), and Eastman Chemical (EMN) upgraded to Buy from Neutral at Nomura Instinet, while Olin (OLN) and Westlake Chemical (WLK) were upgraded to Neutral from Reduce. 4. Waste Management (WM) upgraded to Buy from Hold at Stifel with analyst Michael Hoffman saying even with potential divestitures to get the deal approved, adding Advanced Disposal "dramatically lowers" Waste Management's cost of capital, reduces capital spending, converts more of the fleet to CNG, and stimulates tuck-in activity that should all drive sustainable free cash flow growth. 5. Sony (SNE) upgraded to Buy from Hold at Jefferies. 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

PINS

Pinterest

$24.46

(0.00%)

13:04
04/20/19
04/20
13:04
04/20/19
13:04
Periodicals
Pinterest stock is hot after IPO, investors should keep cool, Barron's says »

Pinterest priced its IPO…

03/08/13
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  • 18

    Apr

HUM

Humana

$240.65

7.645 (3.28%)

, CI

Cigna

$148.95

3.46 (2.38%)

12:51
04/20/19
04/20
12:51
04/20/19
12:51
Periodicals
Health insurers stocks now look like a buy, Barron's says »

Investing in health…

HUM

Humana

$240.65

7.645 (3.28%)

CI

Cigna

$148.95

3.46 (2.38%)

ANTM

Anthem

$239.63

3.38 (1.43%)

UNH

UnitedHealth

$221.74

4.93 (2.27%)

CVS

CVS Health

$52.62

0.08 (0.15%)

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TSLA

Tesla

$273.25

2.13 (0.79%)

12:49
04/20/19
04/20
12:49
04/20/19
12:49
Hot Stocks
Tesla says four board members agreed to not stand for re-election »

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AMD

AMD

$27.68

0.18 (0.65%)

, INTC

Intel

$58.49

-0.08 (-0.14%)

12:43
04/20/19
04/20
12:43
04/20/19
12:43
Periodicals
Wall Street cheered Intel decision to exit 5G modem business, Barron's says »

Apple (AAPL) and Qualcomm…

AMD

AMD

$27.68

0.18 (0.65%)

INTC

Intel

$58.49

-0.08 (-0.14%)

QCOM

Qualcomm

$79.89

0.8 (1.01%)

AAPL

Apple

$203.83

0.69 (0.34%)

03/08/13
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SAM

Boston Beer

$266.90

0.89 (0.33%)

12:37
04/20/19
04/20
12:37
04/20/19
12:37
Periodicals
'Happy hour' might be over for Boston Beer, Barron's says »

Boston Beer's shares…

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SPOT

Spotify

$139.53

1.88 (1.37%)

12:30
04/20/19
04/20
12:30
04/20/19
12:30
Periodicals
Spotify stock 'risky' as music industry not changing fast enough, Barron's says »

Spotify might end up…

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  • 29

    Apr

BA

Boeing

$380.02

2.48 (0.66%)

, HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

08:33
04/20/19
04/20
08:33
04/20/19
08:33
On The Fly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

BA

Boeing

$380.02

2.48 (0.66%)

HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

PPC

Pilgrim's Pride

$25.79

0.03 (0.12%)

SAFM

Sanderson Farms

$141.70

-2.17 (-1.51%)

TSN

Tyson Foods

$73.49

0.2 (0.27%)

CCL

Carnival

$53.64

-0.92 (-1.69%)

RCL

Royal Caribbean

$121.00

-2.245 (-1.82%)

NCLH

Norwegian Cruise Line

$56.93

-0.925 (-1.60%)

WFTBF

West Fraser Timber

$0.00

(0.00%)

IFSPF

Interfor

$0.00

(0.00%)

CFPZF

Canfor

$0.00

(0.00%)

03/08/13
Wedge Partners
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03/06/13
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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
04/20/19
04/20
04:55
04/20/19
04:55
Conference/Events
MSC Industrial management to meet with William Blair »

Meetings to be held in…

03/08/13
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KFS

Kingsway Financial

$2.30

-0.14 (-5.74%)

19:48
04/19/19
04/19
19:48
04/19/19
19:48
Hot Stocks
Kingsway Financial announces receipt of notification letter from NYSE »

Kingsway Financial…

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AWK

American Water

$104.63

2.32 (2.27%)

19:46
04/19/19
04/19
19:46
04/19/19
19:46
Hot Stocks
American Water signs contract to acquire East Pasadena Water Company »

California American…

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FSNN

Fusion

$0.24

0.0048 (2.01%)

19:45
04/19/19
04/19
19:45
04/19/19
19:45
Hot Stocks
Fusion sees being delisted following receipt of Nasdaq delisting notice »

Fusion announced that it…

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  • 28

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PSA

Public Storage

$217.43

0.81 (0.37%)

19:42
04/19/19
04/19
19:42
04/19/19
19:42
Hot Stocks
Public Storage announces change of Chief Legal Officer »

Public Storage announced…

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V

Visa

$160.14

-0.33 (-0.21%)

19:40
04/19/19
04/19
19:40
04/19/19
19:40
Hot Stocks
Visa board elects Visa CEO Al Kelly as Chair »

Visa announced that its…

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NAVB

Navidea

$0.17

0.0001 (0.06%)

19:39
04/19/19
04/19
19:39
04/19/19
19:39
Hot Stocks
Navidea announces one-for-twenty reverse stock split »

Navidea…

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TISA

Top Image Systems

$0.84

-0.0069 (-0.81%)

19:37
04/19/19
04/19
19:37
04/19/19
19:37
Hot Stocks
Top Image sees voluntarily delisting to be complete before Nasdaq deadline »

Top Image Systems…

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FCPT

Four Corners Property Trust

$28.17

0.49 (1.77%)

19:33
04/19/19
04/19
19:33
04/19/19
19:33
Hot Stocks
Four Corners Property Trust acquires restaurant properties for $2.6M »

Four Corners Property…

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  • 24

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PRK

Park National

$93.98

-2.72 (-2.81%)

19:32
04/19/19
04/19
19:32
04/19/19
19:32
Earnings
Park National reports Q1 EPS $1.62, two estimates $1.61 »

Commercial loans grew…

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  • 22

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STNE

StoneCo

$26.50

-8.25 (-23.74%)

19:29
04/19/19
04/19
19:29
04/19/19
19:29
Hot Stocks
StoneCo says latest incentive offers from competitors don't change strategy »

StoneCo released a CEO…

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  • 11

    Jun

GPIC

Gaming Partners

$13.09

(0.00%)

19:24
04/19/19
04/19
19:24
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19:24
Hot Stocks
Gaming Partners sees acquisition by Angel closing on May 1 »

Gaming Partners…

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:04
04/19/19
04/19
17:04
04/19/19
17:04
Conference/Events
Charles Schwab to hold a webcast »

Management holds a 2019…

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12:45
04/19/19
04/19
12:45
04/19/19
12:45
General news
Breaking General news story  »

Week of 4/19 Baker-Hughes…

MMNFF

MedMen

$0.00

(0.00%)

11:13
04/19/19
04/19
11:13
04/19/19
11:13
Hot Stocks
MedMen announces resignations of COO and General Counsel »

MedMen Enterprises…

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

11:08
04/19/19
04/19
11:08
04/19/19
11:08
Hot Stocks
Turkcell sees conclusion of $4.2B lawsuit against MTN this year »

The following statement…

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
04/19/19
04/19
11:05
04/19/19
11:05
Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

Robert Mangano, President…

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
04/19/19
04/19
11:03
04/19/19
11:03
Hot Stocks
Qumu announces death of director Thomas Madison »

Qumu Corporation…

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