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CBS

CBS

$48.93

0.61 (1.26%)

, VIAB

Viacom

$29.00

0.41 (1.43%)

09:08
05/22/19
05/22
09:08
05/22/19
09:08

Lionsgate still interested in selling Starz to CBS, CNBC reports

CBS (CBS) is expected to continue talks in the coming weeks with Lionsgate (LGF.A) about buying Starz, CNBC's Alex Sherman reports, citing people familiar with the matter. CBS made a preliminary $5B offer for the premium channel, which was rejected, the author notes, adding that despite the deal, CBS still plans to continue its merger discussions with Viacom (VIAB). Lionsgate wouldn't make sense as a standalone public company and could pursue a merger with MGM if Starz were sold, Sherman contends. Reference Link

CBS

CBS

$48.93

0.61 (1.26%)

VIAB

Viacom

$29.00

0.41 (1.43%)

LGF.A

Lionsgate

$15.76

0.34 (2.20%)

  • 23

    May

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    Jun

CBS CBS
$48.93

0.61 (1.26%)

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.
04/08/19
LOOP
04/08/19
NO CHANGE
Target $59
LOOP
Buy
CBS Q1 to be impacted by higher content costs, says Loop Capital
Loop Capital analyst Alan Gould kept his Buy rating and $59 price target on CBS (CBS), saying that while he is lowering his Q1 earnings outlook by 3c to $1.37 due to higher programming costs at Showtime, he is keeping a positive view on the stock given its valuation of just 9-times forward earnings. The analyst adds that CBS and Viacom (VIAB) may reopen merger talks with the AT&T renewal having been completed.
04/22/19
LOOP
04/22/19
NO CHANGE
Target $65
LOOP
Buy
CBS price target raised to $65 from $59 at Loop Capital
Loop Capital analyst Alan Gould raised his price target on CBS (CBS) to $65 and kept his Buy rating, saying the stock represents the "most attractive opportunity in large-cap media." The analyst expects the resolution around the appointment of a permanent CEO by the company to lead to CBS entering merger talks with Viacom (VIAB) within 60 days, even though the board appears to be having a "difficult time attracting outside candidates due to the uncertainty of a potential merger," with its initial March 31st target date to conclude its CEO search now having passed.
05/06/19
BRRR
05/06/19
NO CHANGE
Target $60
BRRR
Outperform
CBS price target lowered to $60 from $72 at Barrington
Barrington analyst James Goss lowered his price target on CBS shares to $60 from $72, stating that following the company's Q1 report he believes CBS "remains steadily on a path it charted out several years ago" but he thinks a more conservative multiple is appropriate given the industry "turmoil and transformation" as well as management uncertainty. He keeps an Outperform rating on CBS shares, citing the company's high-margin retransmission revenue and success in the creation of new OTT ventures.
VIAB Viacom
$29.00

0.41 (1.43%)

04/05/19
04/05/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bed Bath & Beyond (BBBY) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Simeon Gutman saying he believes activist intervention presents the potential for upside for the stock in the near-term. 2. Snap (SNAP) upgraded to Hold from Sell at Summit Insights. 3. Northrop Grumman (NOC) upgraded to Positive from Neutral at Susquehanna. 4. Weyerhaeuser (WY) upgraded to Overweight from Equal Weight at Stephens with analyst Mark Connelly saying the stock, which is generally viewed as an income play, has sold off on rate concerns and slower starts. 5. Viacom (VIA, VIAB) upgraded to Outperform from Sector Perform at RBC Capital with analyst Steven Cahall saying the company's "less contentious" than feared DirecTV (T) deal improves its standing and "paves the way toward merger talks" with CBS (CBS). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LGF.A Lionsgate
$15.76

0.34 (2.20%)

01/14/19
WEDB
01/14/19
NO CHANGE
Target $200
WEDB
Outperform
China price cuts, content M&A to lay groundwork for Apple's future, says Wedbush
Wedbush analyst Daniel Ives believes Apple (AAPL) needs to aggressively cut prices in China on XR and pull forward what he estimates is roughly 15M-20M iPhones that would otherwise sit idle waiting for the next release, or worst case, move to lower priced competition. Additionally, with services the linchpin of the Apple story moving forward, there needs to be serious contemplation within Cupertino around significant content acquisitions to drive services over the coming years, he contends. Ives sees A24, Lionsgate (LGF.A; LGF.B), and Sony Pictures (SNE) among the highest probability M&A targets, Viacom (VIA;VIAB)/CBS(CBS), and MGM Studios among the medium probability M&A targets, and Netflix (NFLX), Disney (DIS), and Gaming platform/video game publishers among the low probability M&A targets. The analyst reiterates an Outperform rating and $200 price target on Apple shares.
02/11/19
BRRR
02/11/19
NO CHANGE
Target $21
BRRR
Outperform
Lionsgate price target lowered to $21 from $27 at Barrington
Barrington analyst James Goss lowered his price target for Lionsgate to $21 and keeps an Outperform rating on the shares. The company's content investments have been important in "dramatically" reducing churn following the conclusion of its premiere series Power, Goss tells investors in a research note. This, along with promotional efforts, enabled subscriber levels to remain sequentially flat in Q3, compared to a 500,000 sequential decline in the year-ago period, the analyst points out. His new price target reflects a target multiple of about 10 times his fiscal 2020 OIBDA estimates.
04/29/19
IMPC
04/29/19
DOWNGRADE
Target $16
IMPC
In-Line
Lionsgate downgraded to In-Line from Outperform at Imperial Capital
Imperial Capital analyst David Miller downgraded Lionsgate (LGF.B) to In-Line from Outperform and cut his price target for the shares to $16 from $24. The shares closed Friday up 17c to $14.37. The analyst decreased his fiscal 2019 EBITDA and earnings estimates due to additional promotional expenses related to the Starz international rollout. Further, he lowered his 2020 estimates due to concerns that Lionsgate may guide down, due in large part to recent film performance. Due to the disappointing performance of Hellboy in the theatrical window, and "lukewarm" reviews thus far for Long Shot, the Seth Rogan comedy to be released on May 3, there is a "fairly decent chance" Lionsgate may end up falling short of its guidance, Miller tells investors in a research note.
04/29/19
04/29/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lionsgate (LGF, LGF.A, LGF.B) downgraded to In-Line from Outperform at Imperial Capital with analyst David Miller citing additional promotional expenses related to the Starz international rollout. 2. Occidental Petroleum (OXY) downgraded to Hold from Buy at Jefferies with analyst Jason Gammel saying the company's hostile counter-offer for Anadarko (APC) is a "risky but perhaps necessary move against a better-capitalized bidder for a company that rejected its initial overtures." 3. CVS Health (CVS) downgraded to Neutral from Outperform at Credit Suisse with analyst A.J. Rice saying the stock faces a transitional year as it tries to drive seismic changes in healthcare. 4. Intel (INTC) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing the company's Q1 earnings miss and reduced FY19 outlook that reflected the company's Data Center Group weakness, which he calls "the linchpin of growth." 5. 3M (MMM) downgraded to Hold from Buy at Gordon Haskett with analyst John Inch downgraded saying his concerns extend beyond the company's Q1 earnings miss and steep guidance reduction. 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

LGCY

Legacy Reserves

$0.11

-0.0195 (-15.12%)

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NANO

Nanometrics

$33.56

1.07 (3.29%)

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Initiation
Nanometrics initiated at B. Riley FBR »

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SPY

SPDR S&P 500 ETF Trust

$292.33

2.87 (0.99%)

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S&P 500

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(0.00%)

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Breaking General news story on SPDR S&P 500 ETF Trust, S&P 500 »

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Conference/Events
CLSA Asian tech analysts to hold an analyst/industry conference call »

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AMZN

Amazon.com

$1,902.00

16.45 (0.87%)

, FDX

FedEx

$166.32

2.61 (1.59%)

20:02
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Periodicals
Amazon.com expanding next-day delivery with more rented jets, WSJ says »

Amazon.com (AMZN) is…

AMZN

Amazon.com

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16.45 (0.87%)

FDX

FedEx

$166.32

2.61 (1.59%)

UPS

UPS

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0.76 (0.75%)

BA

Boeing

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DLAKY

Lufthansa

$0.00

(0.00%)

19:53
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19:53
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19:53
Downgrade
Lufthansa rating change at Nord/LB »

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KEQU

Kewaunee Scientific

$22.34

0.44 (2.01%)

19:45
06/18/19
06/18
19:45
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19:45
Earnings
Kewaunee Scientific reports Q4 EPS (15c) excluding cost items, one estimate 53c »

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GM

General Motors

$36.71

0.58 (1.61%)

19:08
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Periodicals
GM, UAW negotiating to hire more temps, cut $900M in health cost, Bloomberg says »

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FLXS

Flexsteel Industries

$16.77

-0.13 (-0.77%)

19:04
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19:04
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Flexsteel Industries updates on restructuring, to incur $48M-$53M charge »

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ADBE

Adobe

$276.80

1.21 (0.44%)

, JBL

Jabil

$27.33

0.53 (1.98%)

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Fly Intel: After Hours Movers »

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ADBE

Adobe

$276.80

1.21 (0.44%)

JBL

Jabil

$27.33

0.53 (1.98%)

X

U.S. Steel

$14.58

0.62 (4.44%)

ARQL

ArQule

$9.37

-0.19 (-1.99%)

UPWK

Upwork

$15.15

-0.29 (-1.88%)

MTSI

Macom

$14.40

-0.02 (-0.14%)

LZB

La-Z-Boy

$29.76

-0.47 (-1.55%)

KURA

Kura Oncology

$18.73

-0.76 (-3.90%)

GPRE

Green Plains

$12.48

0.3 (2.46%)

NCR

NCR Corp.

$31.34

0.31 (1.00%)

ZYME

Zymeworks

$20.15

-0.51 (-2.47%)

GNCA

Genocea

$5.16

-0.24 (-4.44%)

YY

YY

$77.13

2.14 (2.85%)

EAF

GrafTech

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0.14 (1.30%)

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PCG

PG&E

$19.15

0.27 (1.43%)

18:59
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Periodicals
PG&E to pay $1B to some CA communities to settle wildfire claims, WSJ says »

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STOK

Stoke Therapeutics

$0.00

(0.00%)

18:46
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Syndicate
Stoke Therapeutics 7.89M share IPO priced at $18.00 »

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LTXB

LegacyTexas Financial

$39.02

0.11 (0.28%)

18:36
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18:36
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18:36
Downgrade
LegacyTexas Financial rating change at SunTrust »

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UNP

Union Pacific

$165.49

0.885 (0.54%)

18:24
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Union Pacific CEO: The President is addressing the right topics with China »

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MYOS

MYOS

$1.40

0.11 (8.53%)

18:12
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MYOS says fortetropin shows increase rate of muscle protein synthesis in study »

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GM

General Motors

$36.71

0.58 (1.61%)

18:06
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Periodicals
Breaking Periodicals news story on General Motors »

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BXC

BlueLinx

$22.03

0.305 (1.40%)

18:00
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BlueLinx sells two distribution facilities for $12M »

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EADSY

Airbus

$0.00

(0.00%)

, BA

Boeing

$374.21

19.31 (5.44%)

17:59
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Periodicals
U.S. expected to be open to ending aircraft subsidy dispute, Reuters says »

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EADSY

Airbus

$0.00

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BA

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  • 09

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FB

Facebook

$188.46

-0.43 (-0.23%)

17:56
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House Banking chair Waters calls on Facebook to halt Libra, Reuters says »

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  • 10

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OII

Oceaneering

$18.34

0.7 (3.97%)

, APC

Anadarko

$69.95

0.16 (0.23%)

17:36
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Hot Stocks
Oceaneering awarded supply contract for Mozambique LNG Project »

Oceaneering (OII)…

OII

Oceaneering

$18.34

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APC

Anadarko

$69.95

0.16 (0.23%)

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  • 18

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GVA

Granite Construction

$44.64

1.335 (3.08%)

17:35
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Granite Construction JV awarded $275M highway construction project in Sacremento »

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APC

Anadarko

$69.95

0.16 (0.23%)

, FTI

TechnipFMC

$23.76

0.7 (3.04%)

17:33
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17:33
Hot Stocks
TechnipFMC awarded subsea contracts by subsidiary of Anadarko Petroleum »

TechnipFMC (FTI) has been…

APC

Anadarko

$69.95

0.16 (0.23%)

FTI

TechnipFMC

$23.76

0.7 (3.04%)

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  • 18

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MDT

Medtronic

$97.96

0.65 (0.67%)

17:33
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17:33
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Medtronic exec Surface sells 9,000 ordinary shares »

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  • 19

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EAF

GrafTech

$10.95

0.14 (1.30%)

17:20
06/18/19
06/18
17:20
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17:20
Syndicate
Breaking Syndicate news story on GrafTech »

GrafTech files automatic…

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APC

Anadarko

$69.95

0.16 (0.23%)

17:12
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06/18
17:12
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17:12
Hot Stocks
Anadarko Area 1 Plan of Development now effective »

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