Dow Jones (DJ) reported earnings a day ahead of schedule due to the announcement of its acquisition of the 50% interest in Factiva owned by Reuters. Reuters and DJ formed a 50/50 joint venture for Factiva in the late 1990s. DJ will now control of Factiva and consolidate its financials. Factiva is a subscription based […]
Tribune (TRB) reported an unimportant quarter form the perspective of the near-term stock price. It is not just that the near-term will be dominated by the outcome of the strategic review due by year end. The quarter was just more of the same, which means bad, and won’t move the needle at all. In fact, […]
New York Times (NYT) reported EPS of 10 cents but adjusted for one-time items, the figure could be as high 16 cents. Guidance was 11-15 cents, so it looks like it can be called at the high end of guidance and ahead of consensus of 12 cents. Revenues look about $10 million light after adjusting […]
While Apple Computer (AAPL) shares are always volatile around earnings, I think the set up heading into this quarter is unusual. On the one hand, it is AAPL. The expectations are high and the company might receive more scrutiny than any other. The stock has rallied 50% from the summer lows following the excellent June […]
E.W. Scripps (SSP) reported better than expected 3Q06 earnings driven by strong performance from the company’s cable networks and political advertising at the company’s TV stations. The shares are up sharply in a weak tape as they deserve to be. Cable Networks and Interactive (Shopzilla and uSwitch) are about 2/3rds of SSP’s EBITDA and account […]
Yesterday’s New York Times had a major article about Ronald Lauder’s investment in Central European Media Enterprises (CETV). In an odd coincidence, the Wall Street Journal had an article the same day about the attractive television markets in Central and Eastern Europe. My good friend and major CETV shareholder, Mark Riely, was mentioned in both […]
On Friday, theflyonthewall.com, citing a report in Barron’s Online, noted that there was some meaningful insider buying at Sears Holding (SHLD) recently: A director at Sears Holding (SHLD) recently bought $5.5M worth of the company’s stock just as it was climbing to an all-time high. Richard C. Perry, the co-founder and president of Perry Capital, […]
Time Warner (TWX) closed at a 52 week high yesterday. In fact, it was the highest close since January 2005. I suspect that investors are looking ahead to 2007 and ignoring the poor performance of the total company in 2006. In 2007, the company’s fastest growing and largest division, cable distribution, will become an even […]
I finally had a chance to review all of the news stories and analyst reports about the Dolan family’s latest attempt to take Cablevision (CVC) private. My conclusion is that I think this deal will get done with a small sweetener. On the one hand, I can see good reason for the special committee of […]
NTL Incorporated (NTLI) shares have sold off the last few days, giving back most of the gains achieved after several management presentations at media conferences in the US during September. Investors responded favorably to the presentations in which management indicated that 3Q06 results would be satisfactory. This was welcome news following published reports of the […]
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