Fly Intel: Wall Street's top stories for Thursday » 16:4101/2301/23/20
CMCSA, CMCSK, PG, TRV, MU, WDC, WFC, NFLX, CTXS, JBLU, IMAX, FCX, VFC
Stocks were sliding on…
Stifel says continues to recommend buying Netflix shares on pullbacks » 14:0801/2301/23/20
NFLX, CMCSA, CMCSK
Stifel analyst Scott…
Stifel analyst Scott Devitt reiterated a Buy rating and $390 price target on Netflix (NFLX) after Comcast (CMCSA) reported further declines in its residential video subscribers. Devitt said that comparing Netflix to introductory pricing and/or inferior over-the-top products as a justification for worrying about the competitive climate is missing the fact that the cable, telecom, and satellite video industry is shrinking "with no end in sight." The analyst added that any investor who believes that Netflix's peers on TT won't raise prices over time has "likely never paid their own admission to Disneyland." Devitt also said that while he believes the days of 37x and 7x appreciation in Netflix's shares are in the past, he continues to believe that the shares should double over the next four to five years.
Fly Intel: Wall Street's top stories at midday » 12:1701/2301/23/20
CMCSA, PG, TRV, MU, WDC, PAYC, SLM, JBLU, GLOP, FCX, VFC
Stocks are sliding again…
Fly Intel: Pre-market Movers » 09:0601/2301/23/20
GE, LB, PG, PCG, CMCSA, CMCSK, MTB, TER, VFC, ZYME, GLOP
HIGHER: PG&E (PCG),…
HIGHER: PG&E (PCG), up 6% after reaching an agreement with all claim holders who executed commitment letters in support of the alternative Chapter 11 Plan of Reorganization filed by the Ad Hoc Committee of Senior Unsecured Noteholders in PG&E's Chapter 11 cases... General Electric (GE), up 3% after Morgan Stanley analyst Joshua Pokrzywinski upgraded shares to Overweight from Equal Weight with a price target of $14, up from $11... L Brands (LB), up 4% after Barclays analyst Adrienne Yih double upgraded the stock to Overweight from Underweight with a price target of $30, up from $15. UP AFTER EARNINGS: M&T Bank (MTB), up 2%... Teradyne (TER), up 8%. DOWN AFTER EARNINGS: Comcast (CMCSA), down 1%... Procter & Gamble (PG), down 2%... VF Corp. (VFC), down 6%. ALSO LOWER: Zymeworks (ZYME), down 2% after its 4.925M share secondary priced at $46.50... GasLog Partners (GLOP), down 5% after Evercore ISI analyst Jonathan Chappell downgraded shares to Underperform from Outperform with a price target of $11, down from $24... ImmunoGen (IMGN), down 6% after its 21.325M share spot secondary priced at $4.25.
Netflix price target raised to $420 from $400 at Guggenheim » 08:5701/2301/23/20
Guggenheim analyst Micahael Morris raised his price target on Netflix shares to $420 from $400 as he reduced his estimated 2020 free cash flow loss to-$2.5B to be in line with management guidance. He noted that the fourth quarter represented the company's best quarter ever for international net adds and that the company said annual viewing per member grew both globally and domestically "consistent with recent quarters," all of which supports his confidence in Netflix's multi-year, global subscriber growth potential. He keeps a Buy rating on Netflix shares.
Comcast says sees 'higher' video subscriber losses in 2020 » 08:5001/2301/23/20
Comments taken from the…
Comments taken from the Q4 earnings conference call.
Comcast reports NBCUniversal Q4 revenue down 2.6% to $9.2B » 07:1001/2301/23/20
Revenue for NBCUniversal…
Revenue for NBCUniversal decreased 2.6% to $9.2 billion in the fourth quarter of 2019. Adjusted EBITDA decreased 4.7% to $2.0 billion. For the twelve months ended December 31, 2019, NBCUniversal revenue decreased 5.0% to $34.0 billion compared to last year's results, which included an incremental $1.6 billion of revenue generated by the broadcasts of the 2018 PyeongChang Olympics and the NFL's Super Bowl LII at our TV Businesses. Adjusted EBITDA increased 2.0% to $8.8 billion. Cable Networks revenue increased 1.2% to $2.9 billion in the fourth quarter of 2019, primarily reflecting higher advertising and content licensing and other revenue. Broadcast Television revenue increased 2.1% to $3.2 billion in the fourth quarter of 2019, reflecting higher distribution and other and content licensing revenue, partially offset by a decrease in advertising revenue. Filmed Entertainment revenue decreased 21.0% to $1.6 billion in the fourth quarter of 2019, primarily reflecting lower theatrical revenue. Theme Parks revenue increased 3.2% to $1.6 billion in the fourth quarter of 2019, due to increases in guest spending.
Comcast reports Q4 Cable Communications revenue up 2.6% to $14.8B » 07:0901/2301/23/20
Revenue for Cable…
Revenue for Cable Communications increased 2.6% to $14.8 billion in the fourth quarter of 2019, driven primarily by increases in high-speed internet, business services and wireless revenue, partially offset by a decrease in advertising revenue. High-speed internet revenue increased 8.8%, driven by an increase in the number of residential high-speed internet customers and rate adjustments. Business services revenue increased 8.8%, due to an increase in the number of customers receiving our services and an increase in average rates. Wireless revenue increased 39.4%, primarily reflecting an increase in the number of customer lines. Advertising revenue decreased 19.1%, reflecting a decrease in political advertising revenue. Excluding political advertising revenue, advertising revenue was consistent with the prior year period.
Comcast reports Q4 adjusted EPS 79c, consensus 76c » 07:0801/2301/23/20
Reports Q4 revenue…
Reports Q4 revenue $28.4B, consensus $28.17B. Brian L. Roberts, Chairman and CEO of Comcast Corporation, said, "We delivered strong operational and financial results in the fourth quarter, capping another great year for Comcast, including double-digit growth in full-year adjusted EPS, record free cash flow and 1.4 million broadband net additions in the U.S. Our teams at Cable, NBCUniversal and Sky continued to execute at a high level, strengthening our leadership position in our markets. Looking ahead, in 2020 we are leaning into exciting opportunities, including: further differentiating our broadband product in the U.S. through innovations like Flex and xFi Advanced Security; accelerating the deployment of Sky Q; launching a new broadband service in Italy; debuting Super Nintendo World at Universal Studios Japan; and introducing a world-class streaming service - Peacock - which leverages capabilities from across Comcast. Underscoring our confidence in the continued success of our company, we are pleased to announce a 10% increase in our dividend, our 12th consecutive annual increase."
Comcast increases dividend 10% to 92c per share on an annualized basis » 07:0701/2301/23/20
Comcast said that it…
Comcast said that it increased its dividend by 8c to 92c per share on an annualized basis, up 10% year-over-year. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of 23c a share on the company's common stock, payable on April 22, 2020 to shareholders of record as of the close of business on April 1, 2020.