Apple reports 2Q08 earnings after the close on Wednesday, April 23rd. I’ll be covering the conference call for RealMoney.com. Here is the preview I wrote for them which was published today: Before Tuesday’s shellacking I was planning to say that the sharp upward move in Apple shares had raised the bar unrealistically high heading into […]
AT&T reported very solid 1Q08 results. Almost every key metric matched analyst estimates with the exception of wireline line loss which continues to accelerate. Guidance was restated and the numbers suggest that the company will have little trouble meeting 2008 estimates for EPS, revenue, free cash flow, and subscriber growth. Most importantly, there was no […]
Disney announced a new production studio, Disneynature. The studio will produce major motion picture documentaries “about the world in which we live.” The first film, titled “Earth,” will be released on Earth Day 2009. The film is being produced by the BBC and members of same team that created the Planet Earth series. The press […]
Viacom, Lionsgate, and MGM announced that they will no longer sell their movies to Showtime (owned by CBS) and instead will launch a new, fourth pay TV channel. The announcement leaves Showtime, the current owner of rights to films from VIA, LGF, and MGM without the rights to output from any of the major movie […]
After falling year-over-year, often substantially for eight of the past nine weeks, the weekend box office offered a respite. Led by better than expected openings for the top two films, The Forbidden Kingdom from Lionsgate and Forgetting Sarah Marshall from GE’s Universal Pictures, the top 12 films grossed 12.4% more than the same weekend a […]
At the recent National Association of Broadcasters conference, one of the more popular topics was mobile TV. Mobile TV is the ability for consumers to watch live TV on their cellphones. Standards are still being set but according to SNL Kagan, MobiTV has 4 million subscribers of various global wireless companies using its platform. For […]
Central European Media Enterprises (CETV), recommended by Jim Cramer last Friday on Mad Money announced that it is acquiring two radio stations in Romania. Until this point, CETV has been 100% focused on TV other than developing an internet presence in each of its TV markets (Czech Republic, Slovakia, Slovenia, Ukraine, Romania, and Croatia). The […]
New York Times reported terrible 1Q08 results. Adjusted EPS of 4 cents missed the consensus of 14 cents. Revenues of $748 million were a little short of the $752 consensus. 1Q07 EPS were 17 cents so this quarter represents a total collapse in profitability. Making matters worse, March advertising revenues decelerated further even after for […]
Cable stocks have acted pretty well this year. Comcast is up a bit and Time Warner Cable is down slightly. Both have easily outperformed the S&P 500. The other large cap cable stock, Cablevision, is down about equal to the market but at year end it was still in the process of being taken private, […]
News Corporation shares traded down 4.6% on Monday in response to a downgrade from Bernstein Research analyst Michael Nathanson. Nathanson lowered his rating from outperform to market perform, cut his price target from $24 to $21, and lowered his earnings estimate by 7% for FY08 and 4% for FY09. Prior to this downgrade, Nathanson shared […]
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