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CBS

CBS

$49.38

1.33 (2.77%)

, VIAB

Viacom

$29.37

0.84 (2.94%)

14:09
08/13/19
08/13
14:09
08/13/19
14:09

CBS, Viacom announce agreement to combine in all-stock merger

CBS

CBS

$49.38

1.33 (2.77%)

VIAB

Viacom

$29.37

0.84 (2.94%)

VIA

Viacom

$33.03

0.44 (1.35%)

  • 05

    Sep

  • 05

    Sep

CBS CBS
$49.38

1.33 (2.77%)

08/01/19
OTRG
08/01/19
NO CHANGE
OTRG
Broadcast and cable upfront pricing higher than expected, says OTR Global
OTR Global said its checks with U.S. media buyers and ad executives indicated that broadcast and cable networks increased upfront ad unit pricing higher than buyers expected. 2019 upfront prices were up 7%-10% year-over-year for broadcast and up 6%-9% year-over year for cable, exceeding sources' expectations of flat or slightly higher pricing, the firm noted, citing its checks.
08/09/19
08/09/19
NO CHANGE

CBS, Viacom closer to merger after agreeing to board, Bloomberg reports
CBS (CBS) and Viacom (VIAB) are near a merger deal after agreeing on the structure of the combined company's board, Nabila Ahmed and Gerry Smith of Bloomberg report, citing people familiar with the matter. The companies are still negotiating the exchange ratio of the potential all-stock merger, which could delay an announcement, sources told Bloomberg. Shari Redstone could become chairman of the combined entity, they added.
08/13/19
IMPC
08/13/19
NO CHANGE
Target $62
IMPC
Outperform
CBS price target lowered to $62 from $72 at Imperial Capital
Imperial Capital analyst David Miller lowered his price target for CBS (CBS) to $62 from $72 following press reports that the company and Viacom (VIAB) have agreed in principal to an all-stock merger ratio of 0.596 CBS shares for every Viacom share. The analyst says that while this is generally consistent with where both names had been trading for the last 90 days, the ratio is below what he had been hoping for from the Viacom side, which was a ratio of 0.7. Nonetheless, Miller keeps an Outperform rating on shares of CBS.
08/13/19
SPHN
08/13/19
NO CHANGE
Target $150
SPHN
Overweight
Nexstar named a Best Idea at Stephens
Stephens analyst Kyle Evans named Nexstar (NXST) as his "Best Idea," replacing CBS (CBS). He believes recent weakness in the broadcast affiliate group and an imminent close on the proposed acquisition of Tribune Media (TRCO) presents an attractive entry point, said Evans, who has an Overweight rating and $150 price target on Nexstar shares.
VIAB Viacom
$29.37

0.84 (2.94%)

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.
VIA Viacom
$33.03

0.44 (1.35%)

04/01/19
BNCH
04/01/19
NO CHANGE
Target $18
BNCH
Buy
Chicken Soup may now be one of hottest small properties in media, says Benchmark
Benchmark analyst Daniel Kurnos said Chicken Soup for the Soul (CSSE) "shocked" by announcing a joint venture with Sony (SNE) and "may have just become one of the hottest small properties in the media landscape" in the process. Kurnos believes that the new Crackle Plus will top Pluto TV from a content, monthly average user and total registered user standpoint, noting that Pluto was just sold to Viacom (VIAB) for $340M. Following the JV announcement, the analyst raised his price target on Chicken Soup shares to $18 from $16 and keeps a Buy rating on the stock.
04/04/19
RBCM
04/04/19
UPGRADE
RBCM
Outperform
Viacom upgraded to Outperform from Sector Perform at RBC Capital
RBC Capital analyst Steven Cahall upgraded Viacom to Outperform from Sector Perform.
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.

TODAY'S FREE FLY STORIES

QCOM

Qualcomm

$73.57

-3.55 (-4.60%)

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ANFI

Amira Nature Foods

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Options
Preliminary option volume of 26.7M today »

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DXCM

DexCom

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CRM

Salesforce

$151.50

3.24 (2.19%)

, VMW

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$133.43

-14.72 (-9.94%)

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On The Fly
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CRM

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3.24 (2.19%)

VMW

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PVTL

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CBLK

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HAS

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HPQ

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QCOM

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SBGI

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DIS

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T

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QD

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INTU

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FL

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ATGE

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-6.11 (-12.00%)

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BMCH

BMC Stock Holdings

$24.79

-0.62 (-2.44%)

16:24
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08/23
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16:24
Syndicate
Breaking Syndicate news story on BMC Stock Holdings »

BMC Stock Holdings files…

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  • 27

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MRVL

Marvell

$23.79

-1.01 (-4.07%)

16:20
08/23/19
08/23
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16:20
Options
Five 5 minute put seller in Marvell Technology »

Five 5 minute put seller…

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  • 29

    Aug

  • 10

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
08/23/19
08/23
16:20
08/23/19
16:20
Options
Closing CBOE SPX and VIX Index summary for August 23rd »

The CBOE Volatility Index…

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16:20
08/23/19
08/23
16:20
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16:20
General news
Treasury Market Summary »

Treasury Market Summary:…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
08/23/19
08/23
16:17
08/23/19
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
08/23/19
08/23
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16:16
Technical Analysis
NYSE market internals summary »

Volume is above average…

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NK

NantKwest

$1.29

-0.05 (-3.73%)

16:12
08/23/19
08/23
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16:12
Syndicate
Breaking Syndicate news story on NantKwest »

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WISA

Summit Wireless

$1.14

-0.04 (-3.39%)

16:10
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Syndicate
Breaking Syndicate news story on Summit Wireless »

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TLF

Tandy Leather

$4.60

-0.08 (-1.71%)

16:10
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Tandy Leather receives noncompliance notice from Nasdaq »

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NSPR

InspireMD

$2.90

0.1 (3.57%)

16:09
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Syndicate
Breaking Syndicate news story on InspireMD »

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SITO

Sito Mobile

$0.77

-0.0189 (-2.41%)

16:08
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Sito Mobile discloses Nasdaq notice of listing deficiency »

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AVA

Avista

$46.05

-0.96 (-2.04%)

16:06
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UPS

UPS

$110.98

-4.22 (-3.66%)

, FDX

FedEx

$152.18

-5.93 (-3.75%)

16:03
08/23/19
08/23
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16:03
Periodicals
FedEx says already seeking to stop illegal drug shipments, Reuters says »

Joining its rival United…

UPS

UPS

$110.98

-4.22 (-3.66%)

FDX

FedEx

$152.18

-5.93 (-3.75%)

AMZN

Amazon.com

$1,748.03

-55.97 (-3.10%)

03/08/13
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STZ

Constellation Brands

$198.38

-3.11 (-1.54%)

15:55
08/23/19
08/23
15:55
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15:55
Options
Constellation Brands put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 01

    Oct

NFLX

Netflix

$291.26

-5.61 (-1.89%)

15:53
08/23/19
08/23
15:53
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Periodicals
Netflix testing new method of human-driven curation, TechCrunch says »

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  • 23

    Sep

KEY

KeyCorp

$16.06

-0.51 (-3.08%)

15:45
08/23/19
08/23
15:45
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15:45
Options
KeyCorp call volume above normal and directionally bullish »

Bullish option flow…

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  • 29

    Aug

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

, SPX

S&P 500

$0.00

(0.00%)

15:37
08/23/19
08/23
15:37
08/23/19
15:37
General news
Dow at session lows, decline extends to over 600 points »

At time of writing, the…

DJX

Dow Jones Industrial Average

$0.00

(0.00%)

SPX

S&P 500

$0.00

(0.00%)

NDX

Nasdaq 100 Index

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$285.73

-6.63 (-2.27%)

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BBT

BB&T

$45.62

-1.05 (-2.25%)

15:35
08/23/19
08/23
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15:35
Options
BB&T put volume heavy and directionally bearish »

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  • 04

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ALSN

Allison Transmission

$43.06

-0.96 (-2.18%)

15:30
08/23/19
08/23
15:30
08/23/19
15:30
Conference/Events
Allison Transmission management to meet with RBC Capital »

Meeting to be held In…

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  • 27

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15:30
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General news
Treasury Action: bond yields have inched up from intraday lows »

Treasury Action: bond…

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