Actually, NXST opened up over $5.00 a share up well over 10% while MEG was down over $1.50.......that's the difference in beating or missing estimates. Guidance at MEG looked weak as well. DaninFW
I have said this for years and been attacked a few times for saying so. The truth is the truth.....and she is the top analyst in the sector. Scary. You would think she would have lost the top spot after being wrong almost every time. DaninFW
I just scanned it as I have about 5 companies I trade reporting last night and this morning. MEG also had some nice extraordinary income from station sales. MEG was poorly managed until integration with LIN in Q4 so that is probably correct. Martel would have better handle. DaninFW
As you know, MEG also blew away revenues but MEG missed on earnings by 2 cents. Overall, looks great for sector. Guidance was strong at both companies. The article the other day that Salsam posted with the update from Wedbush, shows they expect EVC to come in at about 9.5 cents. I expect 9-10 cents as well. They need about 11 cents to blow away their numbers IMVHO. Anyone following advice from Wedbush isn't going to get too excited otherwise. DaninFW
What it means......is it might just be political posturing. Many are sending the signal they want more guarantees and more money. Even if they are serious it's good news for other broadcasters participating in the auction because they bid against each other. In any markets with EVC, now EVC doesn't have to worry about at least one broadcaster underbidding them. I haven't looked at MEG's spectrum but they may be in markets where their stations aren't worth a lot. DaninFW
Someone tweeted today that they thought it would bounce above $7 today.......He had a website. Watching paint dry or grass grow is much more exciting. DaninFW
I was just thinking today about all the low volume days recently and it hit me. Perhaps everyone is waiting for the quarterly report expecting great news and plan to sell with the news.........that would be classic. DaninFW
Well, I see by the thumbs down on the question to Salsam that at least one of the two resident board idiots are back. Appears they will just hide in the background praying 24 hours a day that something bad happens after the EVC report so they can come back and tell us how dumb they are. This is the best indicator I could ever have that great news lies ahead. I have all of them on ignore (3-4 of their aliases but I do have lyingmonger still active.) I appreciate intelligence even if he is a scam artist. We now have at least 20 following this message board. DaninFW
IMVHO EVC being kept down while it's being accumulated. Yesterday, I estimate 70%+/- of all trades were at $6.86 or a cent or two above or below it. Today, everything is pretty much trading around $6.90 a penny or two each way. Gradually being moved up while taking out weak hands. Going to be interesting as shares get put away. DaninFW
You see, that's the problem with most investors with PBY. This kind of weather kills their sales. Companies like ORLY, AAP and AZO will have very soft sales as well. I ran hundreds of these stores for years. For instance, in the DFW area, stores will do 30-40% of normal sales IF LUCKY. More like 20-35%. This kind of weather knocks out starters, alternators and batteries and little else other than they finally decide they need new tires which PBY's has zero margin in. And guess what? Most people replace their own starters, alternators and batteries. If stranded that's what they bought today. Most of these stores only sell the items I mentioned above today. Nobody else is going to go shopping. Anyone having an accident today is going to a body shop the next week or so not PBY's. Remember, the new CEO said they were looking for someone with service experience. Retail customers don't go to PBY's unless the others are out of stock. They have limited inventory and higher prices. I could go on but I remember many instances in the past few years where when they didn't make sales numbers, the CEO would often site adverse weather for long periods. Take the time to read old reports if you wish. It's a fact. If we see a market downturn IMVHO PBY's will test the $8.00 5 year low. But, I will be buying again in low 8's for another trade. DaninFW
I tried to post another article and Yahoo deleted. Univision and Telemundo both reported double digit ad sales increases for January. Scatter being up 39% bodes well for 2015 in local sales to offset weak national numbers. This bodes well for EVC when they talk about Q1 projections. Q1 has to be incredibly strong with radio, digital and now Univision super strong. I feel great about Thursday. DaninFW
The TV market has been soft at the beginning of the year, according to Standard Media Index, which pools data on approximately 80% of U.S. ad agency spending.
The overall U.S. ad market grew 5% in January compared to last year, according to SMI’s latest report. The TV sector’s ad revenue, however, dropped 1% as losses by broadcasters outweighed gains by cable networks.
Broadcast ad revenues dropped 6% in January. SMI attributed the drop to soft prime-time ratings as well as the Grammy Awards shifting from January to February. The cable sector grew 5% in January, buoyed by ESPN, which saw a 29% spike thanks in large part to the new college football playoff – a major ratings and advertising boon for the network.
Two major TV ad categories — automotive and consumer packaged goods — reduced their spending by 6% and 5%, respectively, according to SMI.
The so-called TV “scatter” market — the year-round market for ad time — jumped 39% year-over-year, and SMI predicts it will continue to strengthen as the economy picks up. That data point will surely be highlighted by media executives, who have argued that advertisers are holding money back to spend closer to air date, as opposed to shifting their TV budgets toward newer digital channels.
I just have to add that SBGI is still up 25-30 times what it was 5-6 years ago. LIN was up 10-15X. NXST and MEG both about 20,30 or 50X just to name a few.......yet people have a problem seeing EVC double or triple because of spectrum...........DaninFW
You got into the sector before me. I first bought SBGI at under $2 and sold for around $9+/- the first time. But, I traded SBGI for years and never lost. I bought several more times around $6 and sold around $8-9 more times than I can remember. I bought BLC between $2-4 and GTN around $1.50. Sold for doubles+. Never bought NXST or MEG. I like MEG and SBGI for best in sector. But, I think EVC is the triple for spectrum. It's a shame it's the worst managed in the sector. I don't have the full confidence of them getting what their spectrum is worth. BOD's should be fired for letting Univision have control over major decisions. DaninFW
Very well said. I too left several million on the table the last time broadcasters went way up. I sold too soon.......even though I made a small fortune. Could have had $2-3 million more. I don't want to make that mistake with EVC. DaninFW