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FOX

Fox Corp.

$37.24

0.27 (0.73%)

, FOXA

Fox Corp.

$37.75

0.22 (0.59%)

06:44
04/17/19
04/17
06:44
04/17/19
06:44

James Murdoch plans to invest $1B in media companies, FT reports

James Murdoch plans to invest roughly $1B from the proceeds of the sale of his 21st Century Fox (FOX, FOXA) stake to build a new portfolio of media companies that may include a liberal-leaning news outlet, the Financial Times' James Fontanella-Khan, Anna Nicolaou and Arash Massoudi report, citing people close to Murdoch. Following the sale of his family's assets to Disney (DIS), Murdoch has decided to establish his own business independently in order to distance himself from the conservative media outlets controlled by his father. and he is finalizing a deal to acquire a stake in Artists, Writers and Artisans, a publisher of comic books. Reference Link

FOX

Fox Corp.

$37.24

0.27 (0.73%)

FOXA

Fox Corp.

$37.75

0.22 (0.59%)

DIS

Disney

$130.15

-1.87 (-1.42%)

  • 08

    May

  • 09

    May

  • 09

    May

FOX Fox Corp.
$37.24

0.27 (0.73%)

12/06/18
CHLM
12/06/18
INITIATION
Target $5
CHLM
Buy
Telaria initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Jason Kreyer started coverage of Telaria (TLRA) with a Buy rating and $5 price target. The analyst notes that the company's partnerships with over-the-top streaming providers such as Hulu, Sling (DISH), Sony's (SNE) VUE, Fox (FOXA), A&E, and FuboTV generated about 20% of total revenue last year and he projects it will grow to nearly 60% by 2020. As consumers continue to pivot toward over-the-top subscriptions, Telaria benefits from its agnostic platform that partners with a variety of publishers to monetize video ad content, Kreyer contends.
03/25/19
RBCM
03/25/19
NO CHANGE
Target $41
RBCM
Sector Perform
Fox Corp price target raised to $41 after 21CF sale at RBC Capital
RBC Captial analyst Steven Cahall raised his price target on Fox Corp (FOX) to $41 to reflect the impact of its sale of 21st Century Fox to Disney (DIS) on its share count and per-share items. The analyst is keeping his Sector Perform rating however and maintains that his thesis on Fox Corp remains "somewhat cautious" because of its valuation relative to peers and some uncertainty about the company's capital allocation plans. Cahall says that unlike other more bullish sell-side analysts, he does not see the company's free cash flow per share tracking ahead of adjusted earnings, adding that its programming cost growth may also "remain elevated".
02/06/19
MSCO
02/06/19
NO CHANGE
Target $135
MSCO
Overweight
Disney's ESPN+ has surprised with early sub growth, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne said in a note before the open that Disney's (DIS) Q1 results were broadly ahead of expectations. He said that ESPN+ has surprised him with its early sub growth ahead of "all eyes" being on the launch of Disney+ this fall and the consolidation of Hulu after the Fox (FOXA) deal closes. Additionally, the $150M drag on operating income for FY19 was lower than expected given fears over lost licensing revenues as Disney opts to keep much of its film and TV content in house, said Swinburne. He continues to see Disney shares offering compelling value and keeps an Overweight rating on the stock with a $135 price target.
01/24/19
SOCG
01/24/19
DOWNGRADE
SOCG
Sell
21st Century Fox downgraded to Sell from Hold at Societe Generale
FOXA Fox Corp.
$37.75

0.22 (0.59%)

04/10/19
BMOC
04/10/19
INITIATION
Target $37
BMOC
Market Perform
Fox Corp re-initiated with a Market Perform at BMO Capital
BMO Capital analyst Daniel Salmon re-initiated Fox Corp with a Market Perform rating and lowered his price target to $37 from $49 after the 21st Century Fox spin off, saying he likes the company's focus on sports and news with a revenue model "driven more by broadcast retransmission and affiliate fees." The analyst is also positive on the company's ramp up of direct-to-consumer programming with the launch of Fox Nation, but believes that valuation on the stock is full. Salmon adds that he is awaiting greater visibility into mid-term affiliate fee growth.
04/10/19
04/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Neutral at Nomura Instinet. 2. Community Healthcare (CHCT) initiated with an Outperform at Baird. 3. Community Bank System (CBU) initiated with an Equal Weight at Stephens. 4. Fox Corp re-initiated with a Market Perform at BMO Capital. 5. Wendy's (WEN) initiated with an Outperform at Cowen. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
04/09/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. First Merchants (FRME) initiated with an Outperform at Raymond James. 2. Focus Financial Partners (FOCS) initiated with an Outperform at Oppenheimer. 3.FIS (FIS) initiated with an Outperform at Keefe Bruyette while Fiserv (FISV) was initiated with a Market Perform. 4. Fox Corp. (FOXA) initiated with a Neutral at Citi. 5. KLA-Tencor (KLAC) reinstated with a Sell at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
SBSH
04/09/19
INITIATION
Target $40
SBSH
Neutral
Fox Corp. initiated with a Neutral at Citi
Citi analyst Jason Bazinet started Fox Corp. with a Neutral rating and $40 price target. The analyst thinks the company "did the right thing" by splitting into two but he prefers to wait for a better entry point. Consensus estimates for the new Fox may not fully reflect the new costs associated with its WWE rights while the NFL renewal in 2022 "could emerge as an overhang," Bazinet tells investors in a research note. Further, he believes Fox's advertising exposure is high "given the duration of the economic expansion."
DIS Disney
$130.15

-1.87 (-1.42%)

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.
04/16/19
JPMS
04/16/19
NO CHANGE
JPMS
Overweight
Netflix Q1 earnings bar likely lowered amid Disney fears, says JPMorgan
Netflix (NFLX) shares are down 5% since the Disney (DIS) streaming service reveal last week, JPMorgan analyst Doug Anmuth tells investors in a research note. This likely reflects a potential overhang from not being able to disprove the Disney risk until late 2019/early 2020, Disney's initial $6.99 per month price point and "strong enthusiasm" on Disney's content and management's tone around being "all in" on streaming, says Anmuth. The analyst expects Disney+ will likely be the most competitive streaming offering to Netflix, but he does not view it as a major threat to Netflix subscriber numbers given the company's "quality and quantity" of content. Further, given the "strong global secular shift" toward streaming, there is room for multiple companies to succeed, he contends. Anmuth continues to like Netflix shares into tonight's results as he believes the competitive fears will prove overdone. Netflix's first half of 2019 content slate is strong and performing well, and the Q1 earnings bar has likely come down over the past few days, says Anmuth. He keeps an Overweight rating on Netflix shares.
04/16/19
BMOC
04/16/19
NO CHANGE
Target $470
BMOC
Outperform
Netflix price target raised to $470 from $440 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Netflix (NFLX) to $470 and kept his Outperform rating ahead of its Q1 earnings today, saying he expects "strong results" from the company. The analyst bases his price target change on his rolled out estimates for 2021-2028 and believes that Netflix still has "room to grow" internationally - particularly in India and Japan - while improving its per subscriber leverage on content spend and generating "steady growth of its consumer product licensing revenues." Salmon also believes that while Netflix remains the clear leader in global streaming, Amazon (AMZN) and Disney (DIS) can also be "long-term winners" in the sector.
04/17/19
PIPR
04/17/19
NO CHANGE
Target $440
PIPR
Overweight
Netflix Q2 guidance mixed on limited new content, says Piper Jaffray
Netflix (NFLX) last night reported upside for Q1 and provided a mixed Q2 outlook, Piper Jaffray analyst Michael Olson tells investors in a research note. Most importantly, says the analyst, is that international subscriber additions were ahead of expectations for the quarter and essentially in-line for the Q2 guide. For domestic subscribes, Q1 was also ahead of consensus, but Q2 domestic sub guidance is below the Street, adds Olson. He believes Netflix's Q2 is "light on new content" but that its slate "appears strong" for the second half of 2019. Further, despite new services on the horizon from Disney (DIS) and Apple (AAPL), the analyst expects "minimal impact" to Netflix subscriber additions and retention. Olson thinks Netflix will "continue to capture a significant portion of traditional content dollars as they migrate to streaming." The analyst reiterates an Overweight rating on Netflix shares with a $440 price target.

TODAY'S FREE FLY STORIES

CLB

Core Laboratories

$66.31

-6.595 (-9.05%)

13:51
04/25/19
04/25
13:51
04/25/19
13:51
Recommendations
Core Laboratories analyst commentary at Stifel »

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AVP

Avon Products

$3.13

0.175 (5.92%)

13:49
04/25/19
04/25
13:49
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13:49
Periodicals
Natura said to be in advanced talks to acquire Avon, Valor Economico says »

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DLPH

Delphi Technologies

$22.60

-2 (-8.13%)

13:45
04/25/19
04/25
13:45
04/25/19
13:45
Options
Delphi call volume above normal and directionally bullish »

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ADTN

Adtran

$17.39

-0.38 (-2.14%)

13:40
04/25/19
04/25
13:40
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13:40
Earnings
Adtran VP Roger Shannon sold over $100K in company shares »

Adtran VP Roger Shannon…

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AVYA

Avaya

$20.22

0.895 (4.63%)

13:34
04/25/19
04/25
13:34
04/25/19
13:34
Periodicals
Mitel offering to combine with Avaya in stock deal worth over $2B, WSJ says »

Avaya is in talks to…

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  • 15

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TECK.B

Teck Corp.

$0.00

(0.00%)

13:34
04/25/19
04/25
13:34
04/25/19
13:34
Conference/Events
Teck Corp. management to meet with B.Riley FBR »

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  • 30

    Apr

CWT

California Water Service

$49.43

-0.57 (-1.14%)

13:32
04/25/19
04/25
13:32
04/25/19
13:32
Upgrade
California Water Service rating change  »

California Water Service…

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  • 25

    Apr

BHC

Bausch Health

$23.18

0.16 (0.70%)

13:30
04/25/19
04/25
13:30
04/25/19
13:30
Hot Stocks
Breaking Hot Stocks news story on Bausch Health »

Bausch Health trading…

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  • 06

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    May

AVYA

Avaya

$20.20

0.875 (4.53%)

13:28
04/25/19
04/25
13:28
04/25/19
13:28
Periodicals
Mitel offers to combine with Avaya in stock deal, WSJ says »

Mitel's bid values…

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  • 15

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CLVS

Clovis

$19.43

-0.4 (-2.02%)

13:25
04/25/19
04/25
13:25
04/25/19
13:25
Options
Clovis call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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03/06/13
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  • 07

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AGN

Allergan

$140.66

0.98 (0.70%)

, TEVA

Teva

$15.07

0.065 (0.43%)

13:25
04/25/19
04/25
13:25
04/25/19
13:25
Conference/Events
Piper Jaffray specialty pharma analysts to hold analyst/industry conference call »

Specialty Pharmaceuticals…

AGN

Allergan

$140.66

0.98 (0.70%)

TEVA

Teva

$15.07

0.065 (0.43%)

ALDR

Alder Biopharmaceuticals

$13.95

0.29 (2.12%)

AMGN

Amgen

$179.82

1.56 (0.88%)

BHVN

Biohaven Pharmaceutical

$62.30

-0.855 (-1.35%)

LLY

Eli Lilly

$117.99

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 05

    Jun

ZM

Zoom Video

$64.49

1.175 (1.86%)

13:21
04/25/19
04/25
13:21
04/25/19
13:21
Hot Stocks
Zoom, Slack announce new partnership »

Zoom and Slack have…

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BHC

Bausch Health

$23.18

0.16 (0.70%)

13:21
04/25/19
04/25
13:21
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13:21
Hot Stocks
Bausch Health announces FDA approval of Duobrii for plaque psoriasis »

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  • 06

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
04/25/19
04/25
13:17
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13:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
04/25/19
04/25
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NYSE market internals summary »

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BA

Boeing

$382.62

7.3 (1.95%)

13:16
04/25/19
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13:16
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13:16
Recommendations
Boeing analyst commentary at Bernstein »

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BA

Boeing

$382.62

7.3 (1.95%)

13:15
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Periodicals
FAA targeting May 23 for meeting over 737 MAX changes, Aviation Week says »

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13:12
04/25/19
04/25
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13:12
General news
7-Yr Note Auction Coupon Rate data reported »

7-Yr Note Auction Coupon…

13:12
04/25/19
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13:12
General news
7-Yr Note Auction Total Amount data reported »

7-Yr Note Auction Total…

RSG

Republic Services

$79.29

-0.01 (-0.01%)

13:10
04/25/19
04/25
13:10
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13:10
Options
Upside call buys in Republic Services ahead of earnings »

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LUV

Southwest

$54.00

1.08 (2.04%)

13:06
04/25/19
04/25
13:06
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13:06
Hot Stocks
Breaking Hot Stocks news story on Southwest »

Southwest continues to…

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LUV

Southwest

$54.00

1.08 (2.04%)

, BA

Boeing

$379.25

3.93 (1.05%)

13:06
04/25/19
04/25
13:06
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13:06
Hot Stocks
Southwest expects FY19 capacity to increase 2%-3% y-o-y »

Says continues to have…

LUV

Southwest

$54.00

1.08 (2.04%)

BA

Boeing

$379.25

3.93 (1.05%)

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BUD

AB InBev

$86.38

-1.82 (-2.06%)

13:05
04/25/19
04/25
13:05
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13:05
Options
Anheuser Busch call volume above normal and directionally bullish »

Bullish option flow…

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13:05
04/25/19
04/25
13:05
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13:05
General news
FX Action: USD-CAD »

FX Action: USD-CAD…

APD

Air Products

$199.33

-0.17 (-0.09%)

, PKX

Posco

$55.45

-0.75 (-1.33%)

13:02
04/25/19
04/25
13:02
04/25/19
13:02
Hot Stocks
Air Products to supply Posco's cathode material manufacturing site in Gwangyang »

Air Products (APD)…

APD

Air Products

$199.33

-0.17 (-0.09%)

PKX

Posco

$55.45

-0.75 (-1.33%)

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