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Fly News Breaks for March 3, 2020
IDCC, TIVO, BC
Mar 3, 2020 | 09:16 EDT
B. Riley FBR analyst Eric Wold analyzed the potential direct and indirect operational and financial impacts from the ongoing coronavirus situation on his Media & Entertainment and Outdoor Leisure coverage. The analyst found a handful of companies that he believes have experienced "valuation declines that are more reflective of that perceived risk as opposed to our view of reality." These include InterDigital (IDCC), TiVo (TIVO) and Brunswick (BC). With 90% of license revenues coming from fixed-fee agreements and the other 10% from per-unit agreements with manufacturers outside of China, InterDigital has little to no risk to its 2020 outlook from the outbreak, Wold tells investors in a research note. The analyst also sees little to no risk to the 2020 outlook from the outbreak for TiVo and believes Brunswick's supply chain is back online and that its shipments had already been pulled forward ahead of any potential issues.
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