CBS - CBS Corporation

NYSE - NYSE Delayed Price. Currency in USD
41.88
-0.51 (-1.20%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous Close42.39
Open42.52
Bid41.80 x 1000
Ask41.94 x 1800
Day's Range41.83 - 42.69
52 Week Range40.65 - 59.56
Volume3,973,020
Avg. Volume3,753,893
Market Cap15.388B
Beta (3Y Monthly)1.00
PE Ratio (TTM)5.15
EPS (TTM)8.13
Earnings DateOct 30, 2019 - Nov 4, 2019
Forward Dividend & Yield0.72 (1.70%)
Ex-Dividend Date2019-09-09
1y Target Est57.33
Trade prices are not sourced from all markets
  • Financial Times

    Cokie Roberts, political journalist, 1943-2019

    Cokie Roberts, the trailblazing American political journalist, was to the manner born as few who have practised her craft. The daughter of a Louisiana political dynasty, she roamed the halls of Congress as a child with her father, Hale Boggs, who rose to become the Democratic majority leader of the House of Representatives. President Lyndon Johnson and his wife, Lady Bird, attended her wedding.

  • Moore Kuehn, PLLC Announces Investigations of CBS Corporation (NYSE: CBS), Burford Capital Limited (OTC: BRFRF), and Textron, Inc. (NYSE: TXT)
    PR Newswire

    Moore Kuehn, PLLC Announces Investigations of CBS Corporation (NYSE: CBS), Burford Capital Limited (OTC: BRFRF), and Textron, Inc. (NYSE: TXT)

    NEW YORK , Sept. 19, 2019 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City , is investigating potential claims involving the directors and officers ...

  • CBS, Viacom, WarnerMedia will reportedly stop airing e-cigarette ads
    MarketWatch

    CBS, Viacom, WarnerMedia will reportedly stop airing e-cigarette ads

    In another blow to the vaping industry, CBS Corp., WarnerMedia and Viacom Inc. reportedly said Wednesday that they will no longer air commercials for electronic cigarettes.

  • Saudi Arabia Still Doesn’t Know Launch Site for Oil Attacks
    Bloomberg

    Saudi Arabia Still Doesn’t Know Launch Site for Oil Attacks

    (Bloomberg) -- Saudi Arabia said attacks on its critical oil infrastructure were “unquestionably sponsored by Iran” but stopped short of saying the strikes were launched directly from or by the Islamic Republic, claims that could have propelled a drift toward war.With parts of drones and missiles recovered from the attack sites at Abqaiq and Khurais on display, Saudi Defense Ministry spokesman Turki al-Maliki on Wednesday showed maps aimed at proving the strikes originated from the north and could not have been launched by Yemen’s Iranian-backed Houthi rebels, who shortly after repeated their claims of responsibility.“Despite Iran’s effort to make it appear so,” the attack didn’t originate from Yemen, Maliki said. “Data analysis of the attack sites indicate weapons of Iranian origin.”Iran has denied it was involved in the worst attack in Saudi Arabia’s history and President Hassan Rouhani said earlier Wednesday that his country did not want war.The Saudi defense official’s comments, and moves by the U.S., suggested the two allies were also working to deescalate tensions in the region. President Donald Trump, who had initially declared the U.S. “locked and loaded” for a response, said Wednesday he was tightening sanctions on Iran.Iran’s economy is already under severe pressure from existing sanctions, though analysts said there were still a number of potential targets for restrictions. Iran is gradually scaling back its commitments under the deal and has said it will not reopen talks without sanctions relief.Speaking just before landing in Saudi Arabia, Secretary of State Mike Pompeo -- while broadly echoing Maliki’s claims on Iranian involvement -- signaled he was working to build international diplomatic pressure to deter Iran.Twenty-five pilotless aircraft and cruise missiles were used to attack the two sites, Maliki told reporters gathered in Riyadh. The weapons were of Iranian origin but Saudi Arabia was still working to pinpoint the exact launch point, he said. The range and accuracy of the weapons were beyond the capabilities of the Houthis, he added.In comments made immediately after the Saudi briefing, Yemen’s Houthi military spokesman Yehya Saree said some of the drones used were new, with a range of up to 1,700 kilometers, and were launched from three different points inside Yemen. He said the drones fired long-range missiles and warned the United Arab Emirates that it could be also be targeted. The U.A.E. said weeks ago that it was drawing down its role in the Yemen war after four years.Maliki displayed surveillance video purporting to show drones moving in a north to south direction, however. He said Saudi Arabia was working to share the information with United Nations experts.“We are working as I mentioned to determine the exact position of the launch point,” Maliki said. “Whether it’s been launched from Yemen, launched from somewhere else, those people they will be held accountable, and this is a decision at a political level in our country.”Addressing a cabinet meeting, Rouhani said the assault on the oil facilities was carried out by the Houthis retaliating against Saudi Arabia’s military campaign in their country and should serve as a “warning and lesson,” according to state TV.Iran backs the Houthis, one of several militias it supports around the region, from Lebanon to Iraq. The confrontation has sporadically convulsed the Gulf, with the strikes on oil tankers, an American drone and a key pipeline, pushing the region to the brink of open conflict.The U.S. and its Gulf allies “assumed the Iranians would take the maximum pressure without any significant reaction,” said David Roberts, an assistant professor at King’s College London who studies the Gulf. “They’ve all been completely blindsided by the potent nature of the Iranian response.”(Updates throughout with details.)\--With assistance from Josh Wingrove, Dana Khraiche and Zainab Fattah.To contact the reporters on this story: Vivian Nereim in Riyadh at vnereim@bloomberg.net;Anthony DiPaola in Dubai at adipaola@bloomberg.netTo contact the editors responsible for this story: Lin Noueihed at lnoueihed@bloomberg.net, Mark WilliamsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    China’s banks surge into ‘perps’ market to bolster capital

    as they seek to top up capital levels to meet tighter regulations, with about Rmb810bn ($114bn) worth of debt issued or in the pipeline. banking sector, in which many banks had invested, put several under stress. has intensified in recent months as Beijing, still grappling with a trade dispute with the US, counts on domestic lenders to stimulate growth.

  • Oil Plunges on Report Saudis May Soon Resume 70% of Lost Output
    Bloomberg

    Oil Plunges on Report Saudis May Soon Resume 70% of Lost Output

    (Bloomberg) -- Oil plunged nearly 7% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production it lost after this weekend’s attack on a key crude facility in the kingdom.Brent crude dropped to as low as $64.48 a barrel on the report, which cited an unidentified Saudi source saying the OPEC member would return to full production in the next two to three weeks. Energy Minister Prince Abdulaziz bin Salman is scheduled to hold a press briefing on Tuesday evening in Jeddah.Estimates of when, and how much, of the 5.7 million barrels a day of shut output would be back online have fluctuated since the attack. Significant volumes could come back within days, people familiar with the matter said over the weekend, adding that it could still take weeks to restore full capacity. Brent futures rose 19% in a matter of seconds at the open on Monday and ended the day up 15%, their biggest single-day advance.The worst ever sudden disruption to global oil supplies continues to reverberate as geopolitical risk premiums soar on concern over instability in the Middle East and a potential retaliation against Iran, which the U.S. has blamed for the strikes.Brent for November settlement fell $4.09 to $64.92 a barrel at 10:12 a.m. in London. Ten unmanned drones damaged one of the Saudis’ flagship fields and a key processing complex Saturday, triggering one of the wildest bouts of trading seen in oil markets.WTI for October slid $3.48 to $59.42 a barrel, after declining as much as 5.6% The U.S. benchmark’s discount to Brent for the same month narrowed to $5.54.Saudi Aramco is firing up idle offshore oil fields -- part of its cushion of spare capacity -- to replace some of the lost production, a person familiar said earlier. Customers are also being supplied using stockpiles, though some are being asked to accept different grades of crude. The kingdom has enough domestic inventories to cover about 26 days of exports, according to consultant Rystad Energy A/S.The disruption surpasses the loss of Kuwaiti and Iraqi petroleum output in August 1990, when Saddam Hussein invaded his neighbor. It also exceeds the loss of Iranian oil production in 1979 during the Islamic Revolution, according to the International Energy Agency.To contact the reporters on this story: David Marino in New York at dmarino4@bloomberg.net;Sheela Tobben in New York at vtobben@bloomberg.netTo contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Apple Has the Cash, But Does It Need a Hollywood Studio?
    Bloomberg

    Apple Has the Cash, But Does It Need a Hollywood Studio?

    (Bloomberg Opinion) -- Apple Inc. is getting ready to launch its own streaming-video service, Apple TV+, in the coming weeks. Compared to Netflix and other rival offerings, the new app will feature a rather skimpy lineup of viewing choices. That’s reigniting the will-they/won’t-they debate around Apple and the handful of Hollywood studios that look ripe for an acquisition.The tech giant announced this week that Apple TV+ will launch on Nov. 1, beating Walt Disney Co.’s rival product to the market by 11 days. Apple TV+ will cost $4.99 a month, which is $2 less than Disney+, and on the face of it, significantly cheaper than Netflix and AT&T Inc.’s HBO Max, set to debut next spring. What’s more, Apple will let customers have the service free for a year when they purchase an iPhone, iPad, Mac or Apple TV console. Much has been made of Apple TV+ undercutting competitors, but the price was set low to make up for the fact that, unlike rival services, it won’t contain a backlog of content out of the gate. Disney and AT&T both own immense libraries of films and TV shows and can stuff them into their streaming services even as they work to produce new original content exclusively for app subscribers. Remember, Disney owns Marvel, Pixar, “Star Wars,” “The Simpsons,” National Geographic and so on, while AT&T acquired Warner Bros., HBO and Time Warner’s other television networks last year. Apple TV+, on the other hand, will contain just nine originals on Day One and nothing else. Apple’s lack of a library argues for the company to buy a production studio. Lions Gate Entertainment Corp. (which also owns the Starz premium channel), Metro-Goldwyn-Mayer Studios Inc. (known as MGM), Sony Pictures and indie studio A24 are all prospects. Even a combined Viacom Inc. and CBS Corp. – two content companies that are in the process of merging – could be an appealing option given their diverse set of assets, including Paramount Pictures, MTV, BET, Nickelodeon and Showtime. (Shari Redstone, the billionaire who controls Viacom and CBS, would likely be a willing seller.)(1)It all depends, though, on how Apple CEO Tim Cook sees streaming video fitting into the company’s future. Is the goal to build a bona fide competitor to Netflix, available on anything with a screen? Or is Apple TV+ a loss leader meant to help drive sales of Apple devices? This week’s unveiling seemed to suggest the latter. After all, Apple’s revenue from iPhones decreased by $19 billion in the latest fiscal year, my colleague Shira Ovide noted in her column this week. In 2017, she wrote that Apple should try bundling software – such as video and music subscriptions – with its hardware to help boost sales. Apple is essentially doing just that by giving TV+ as a freebie for buying a new Apple product. “They’re doing it to sell hardware,” Marci Ryvicker, an analyst for Wolfe Research, said in a phone interview. “This isn’t Apple’s core business.”It’s noteworthy that Cook, while on stage Tuesday, compared the Apple TV+ fee to the cost of renting a single movie on demand – not to the price of other streaming subscriptions. That may provide some insight into his thinking. At $5 a month, Apple TV+ is also a long ways from making any money. That’s another reason it looks more like an internet add-on than a stand-alone product intended to take on Netflix, a business running on negative cash flow and junk debt. The cost of going all-in on streaming is steep. Disney, for example, doesn’t think its own $7-a-month app will start turning a profit until 2024, by which point it expects to have at least 60 million global subscribers. Even then, Ebitda for Disney+ may be just $51 million, a paltry 1% profit margin, according to a model by Alan Gould, an analyst for Loop Capital Markets. In 2025, he sees that figure jumping to $2.6 billion, though it still pales in comparison to the roughly $10 billion of Ebitda that Disney’s traditional TV and film businesses generate.Still, some analysts see Apple TV+ topping 100 million subscribers within five years, and it’s already planning to spend billions of dollars on content. It could be that Apple doesn’t know exactly what it wants from Apple TV+ yet. If it turns out to be successful early on, that may be what leads Cook to acquire a studio. Dan Ives, an analyst for Wedbush Securities, made the same bold prediction at the start of the year, and he told me this week that he’s sticking to it.“Right now, they’ve built a house with no furniture,” said Ives, who interprets Apple’s aggressive pricing strategy as a sign that it’s changed its past thinking and is ready to commit to streaming content in a big way. “It’s hard to envision them being massively successful in streaming without doing a major acquisition.”I agree. The question is, does it plan for Apple TV+ to be massively successful? This week may have signaled “no,” but when it comes to M&A, never say never. (1) Viacom is also said to be the front-runner to buy a stake in Miramax films.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Bloomberg

    Viacom Is Said to Emerge as Front-Runner for Miramax Stake

    (Bloomberg) -- Viacom Inc., the media company that’s combining with CBS Corp., has emerged as the front-runner to buy a stake in Miramax films, which owns award-winning pictures such as “Pulp Fiction,” people familiar with the matter said.Another bidder, Lions Gate Entertainment Corp., has dropped out of the process to focus on its core business, though it’s possible the company could come back, said one of the people, who asked not to be identified because the discussions are private. Talks are ongoing and there’s no guarantee a deal will be reached. The parties have discussed a price in the nine-figure range, or at least $100 million, the people said.A deal would give Viacom a stake in more than 700 titles, including four best-picture Oscar winners, and an interest in future productions, such as Guy Ritchie’s “The Gentlemen,” with Matthew McConaughey. Viacom is the parent of MTV and Comedy Central, along with the Paramount Pictures film and TV studio. BeIN Media Group, the Qatar-based owner of Miramax, began seeking investors earlier this year.The owners are looking to capitalize on soaring demand for film and TV assets, driven by new streaming services from companies like Walt Disney Co., NBCUniversal, Apple Inc. and AT&T Inc. Viacom and CBS, both controlled by the Redstone family, are merging to gain clout in this environment. Spyglass Media Group, the company formed through the acquisition of Weinstein Co. assets, dropped out of the process earlier.Viacom shares fell 1.5% to $26.15 in late trading in New York, while Lions Gate rose 6% to $11.67.Deal HuntA spokesman for BeIN declined to comment.The combined Viacom and CBS has been expected to seek other deals that bolster its portfolio. In March, New York-based Viacom acquired Pluto TV, an internet-based TV programmer, for $340 million.“While there is concern that ViacomCBS would be an aggressive buyer, in our discussions, we came away with a strong belief that the company would be ‘opportunistic’ and ‘disciplined,’” analysts at MoffettNathanson LLC said in a note this month.Lions Gate, meanwhile, has been trying to raise capital for the international expansion of its Starz premium cable network.Miramax was acquired by BeIN from Colony Capital in 2016 and is pursuing a revival under Chief Executive Officer Bill Block, the founder of Artisan Entertainment. Last year, the company co-produced a remake of “Halloween” to revive and extend the popular horror film series. But the library remains the key prize.Colony and other investors acquired Miramax in 2010 for $660 million. The independent studio was founded in 1979 by Harvey and Bob Weinstein, who sold it to Walt Disney in 1993. The brothers went on to found the Weinstein Co. in 2005, which went into bankruptcy last year after revelations of sexual misconduct by Harvey Weinstein.(Updates with shares prices in fifth paragraph)To contact the reporters on this story: Anousha Sakoui in los angeles at asakoui@bloomberg.net;Nabila Ahmed in New York at nahmed54@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CBS-owned Channel 2 moves Ryan Baker from sports desk to morning news anchor
    American City Business Journals

    CBS-owned Channel 2 moves Ryan Baker from sports desk to morning news anchor

    The CBS outlet in Chicago is making news personnel changes in hopes of boosting the station's low news ratings.

  • MoneyShow

    CBS-Viacom- Creating Value in Media

    CBS (CBS) and Viacom (VIAB) have announced they will be merging in a stock deal, setting up an attractive value play in media, explains Chuck Carlson, dividend expert and editor of DRIP Investor.

  • Bloomberg

    Mock Tornado Alert on CBS’s ‘Young Sheldon’ Draws Proposed Fine

    (Bloomberg) -- The hit CBS Corp. comedy “Young Sheldon” about a child genius, wasn’t so smart when it came to a mock tornado warning, according to the Federal Communications Commission.Even modified, the tornado warning sounded too much like the Emergency Alert System, which is a violation of agency rules, the agency said. It’s proposing a $272,000 fine for the network’s April 12, 2018, episode, according to a notice on the FCC website. CBS will get a chance to respond before any fine is imposed.The FCC is cracking down on what it says are potentially dangerous uses of the emergency alerts in television shows. The alerts are used to warn the public about emergency events like dangerous weather. Using them in television shows could confuse listeners and is a “serious public safety concern,” the agency said.Last month, the FCC lobbed a $395,000 penalty against ABC over the use of an alert during a comedy sketch on “Jimmy Kimmel Live!,” $68,000 against Discovery Communications Inc. for an Animal Planet episode and $104,000 against AMC Networks Inc. for two episodes of “The Walking Dead.”The “Young Sheldon” episode aired on 227 television stations, including 15 owned and operated by CBS, according to the FCC. The show is a crossover of “The Big Bang Theory,” telling about the childhood of “Big Bang” character Sheldon Cooper.To contact the reporter on this story: Susan Decker in Washington at sdecker1@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Wendy BenjaminsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Failed Afghan Talks Underscore Trump’s Foreign Policy Setbacks
    Bloomberg

    Failed Afghan Talks Underscore Trump’s Foreign Policy Setbacks

    (Bloomberg) -- Donald Trump took the presidency vowing to bring his deal-making savvy to American foreign policy, yet his love for grand gestures and personal diplomacy has fallen short with North Korea, China and the Mideast.Now Afghanistan can be added to the list. In a series of tweets on Saturday night, the president dispatched with a secret plan to host Taliban and Afghan leaders at his Camp David retreat this weekend ahead of the anniversary of the Sept. 11, 2001, terror attacks. He wanted to talk directly with Taliban negotiators, Secretary of State Michael Pompeo said Sunday on CBS, one of five TV interviews.“I want to look them in the eye,” the president said, according to his top diplomat. That would be reminiscent of his approach to China’s Xi Jinping and North Korea’s Kim Jong Un, but with just over a year before the 2020 elections, Trump’s personal brand of diplomacy has few successes to point to.“So far, his foreign policy bluster has produced little,” said James Dorsey, senior fellow at Singapore’s S. Rajaratnam School of International Studies. “North Korea is not backing off nuclear weapons, Iran is proving resilient and defiant, and the ‘Deal of the Century’ looks more like a stillborn baby.”The White House rejects that assessment, saying that major foreign policy achievements have historically taken more than just months to pull together.“The president isn’t afraid to try and tackle hard problems whereas most politicians run away from them,” said Judd Deere, a White House deputy press secretary.The Afghanistan move capped a tough week. On Friday, the president’s envoy to North Korea talks said negotiations have been stalled for months. On Thursday, Middle East envoy Jason Greenblatt announced his intention to depart; the vaunted Israeli-Palestinian peace plan he’s been working on has yet to be unveiled. The U.S.-China trade war drags on.Pompeo defended the president’s setbacks as signs of strength, the early price to pay for taking on intractable issues.“It’s going to take more than words,” Pompeo said. “He walked away in Hanoi from North Korea, they wouldn’t make a deal that made sense for America. He’ll do that with the Iranians. When the Chinese moved away from a trade agreement they promised they would make, he broke off those conversations too.”If the president wants to rack up some wins, here’s where he’ll have to shift the momentum.Afghanistan Trump campaigned on a vow to pull U.S. troops from intractable conflicts, a description exemplified by the Afghan war, where American forces have been mired for almost 18 years. But while Trump raised U.S. troops levels in Afghanistan early in his term to about 14,000, the Taliban forces are now at their strongest levels since being ousted from power a generation ago. Even many Republicans fear that a withdrawal could give the fundamentalist group a pathway to power, or allow al-Qaeda or Islamic State to regroup.U.S. strategy “appears to be let’s get the best deal that we can, making perfectly clear that we’re getting out irrespective of what precisely that deal looks like,” Richard Fontaine, the chief executive officer of the Center for a New American Security, said at an event in Washington on Monday.For now, the administration says, talks are over and the U.S. envoy brokering the would-be deal, Zalmay Khalilzad, has been recalled to Washington. Pompeo said the administration will keep working hard to forge an agreement, but Trump may have to decide if he starts a draw-down without winning any Taliban concessions.North KoreaAfter a year of heightening tensions over North Korean missile and nuclear tests in 2017, Trump made a historic gamble to meet Kim Jong Un in Singapore. With a short, vague agreement in hand, the two leaders went on to have two more meetings. They met in Vietnam in February, and in June, Trump stepped across the border into North Korea for a brief time, the first American president to do so. Since then? Nothing.Trump’s special envoy for North Korea talks, Stephen Biegun, said Friday he’s ready to engage, “but we cannot do this by ourselves.” Since the last Trump-Kim meeting, North Korea has ignored U.S. entreaties to negotiate and has instead conducted a wave of short-range missile tests banned by the United Nations, while complaining about U.S.-South Korea military exercises. With the two sides unable to reach an agreement on what “denuclearization” even means, analysts say Pyongyang’s nuclear and missile production has continued.Middle East PeaceA day before his inauguration, Trump tasked his son-in-law, Jared Kushner, with producing the “deal of the century”: peace between Israel and the Palestinians. Kushner labored in secret, shuttling across the Mideast with the president’s former top lawyer at the Trump Organization, Jason Greenblatt.On Thursday, with the peace plan yet to come, Greenblatt said he intends to step aside in the near future, although he’s expected to stay at the White House at least until the plan is revealed. Over two years, Trump made a series of concessions that bolstered Prime Minister Benjamin Netanyahu’s agenda -- including moving the American embassy to Jerusalem, and recognizing Israeli sovereignty of the Golan Heights -- while doing nothing to lure Palestinians to the table. The administration said a peace plan is still forthcoming, but Palestinians have already ruled out talks with Trump’s team.IranMore than a year after Trump quit the 2015 nuclear accord with Iran, the Islamic Republic is feeling the pain of ever-tightening sanctions. But that hasn’t been enough to force them back to the negotiating table, as Trump says he wants, and the U.S. has won little support for its “maximum pressure” campaign.American allies have been so alarmed at the administration’s approach -- even as they decry Iranian behavior in the Middle East -- that they’ve largely declined to join a U.S.-led initiative to strengthen security in the waters of the Persian Gulf, a bottleneck for global oil supplies. When Trump did reach out to allies -- saying he’d back French President Emmanuel Macron’s proposal to extend a “letter of credit” to Iran, secured by oil -- his aides quickly walked those comments back.Iranian President Hassan Rouhani and Trump could still meet on the sidelines of the UN General Assembly gathering in New York later this month, but Iranian leaders have said they aren’t interested in a “photo op,” a veiled reference to the president’s three meetings with Kim.ChinaTrade wars are “easy to win,” Trump has said, but so far winning has been scarce when it comes to China. Expectations are low for a round of trade talks expected to take place in early October. That’s left the latest round of U.S. and Chinese tariffs in place, with the U.S. poised to raise various levies on Oct. 1 and on Dec. 15, when China plans additional tariffs as well.With a stalemate continuing, Trump’s aides have argued he has the power to force American companies to leave China, as he suggested in August. Meanwhile, the International Monetary Fund estimates that the current and upcoming tariffs will shave about 0.8% off global gross domestic product growth in 2020.VenezuelaU.S. efforts to oust Venezuelan President Nicolas Maduro early this year appeared to have momentum, with more than 50 nations recognizing National Assembly leader Juan Guaido and, initially, cutting contacts with Maduro’s regime. But that momentum has stalled. Venezuelans have suffered under brutal inflation and a scarcity of basic goods and medicine, despite living in a country with the world’s biggest oil reserves. Maduro has maintained the military’s support and efforts to rally the often-divided opposition in the streets have fizzled.(Adds analyst’s comments in Afghanistan section)\--With assistance from David Wainer.To contact the reporters on this story: Nick Wadhams in Washington at nwadhams@bloomberg.net;Glen Carey in Washington at gcarey8@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Bill Faries at wfaries@bloomberg.net, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Roku Stock Looks Poised to Be Acquired
    InvestorPlace

    Roku Stock Looks Poised to Be Acquired

    I am not always right, and I almost never recommend momentum stocks.Source: AhmadDanialZulhilmi / Shutterstock.com But when I called Roku (NASDAQ:ROKU) an "interesting speculative play" in June 2018, I was underestimating myself.If you grabbed some shares at that time, you've hit a home run. At that point, ROKU stock price was about $40. Now trading around $170, Roku stock has a market cap of $17.6 billion. That's more than Discovery Networks (NASDAQ:DISCA), and more than CBS (NYSE:CBS).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Industrial Stocks to Buy for a Strong U.S. Economy What's going on is consumers are shutting down their cable and rushing to embrace streaming, a.k.a, "Netflix (NASDAQ:NFLX) and chill." Roku's streaming stick, which is at the heart of its TV offerings, is a gatekeeper to this new world. Buy one, plug it into your WiFi, and you can buy all the entertainment you could ever wish for. Don't Look at NumbersIf you're the kind of investor who looks at numbers, however, ROKU made no sense even when I first recommended it.Roku's most recent earnings report, delivered July 17, showed a loss of $10 million on revenue of $250 million. Its revenue was up 59% year-over-year. Its active account total jumped 39%. Revenue from advertising and services, which it calls "platform revenue," was up a staggering 86%.Still, why would investors pay 20 times revenue for Roku stock? For the same reason former Microsoft (NASDAQ:MSFT) CEO Steve Ballmer paid $2 billion for the Los Angeles Clippers. Rarity.The Clippers are one of two NBA franchises in Los Angeles, the nation's largest market. ROKU is now the largest streaming stick provider, with 39% of the market. Amazon.com (NASDAQ:AMZN) has 30% of the sector. Mighty Alphabet (NASDAQ:GOOGL) and Apple (NASDAQ:AAPL) have been left behind, and the market is maturing rapidly. A Takeover of Roku LoomsRoku's strength is based on its independence, but even at its present valuation, ROKU is no position to resist a determined acquirer.Roku's success makes Comcast (NASDAQ:CMCSA) and Charter (NASDAQ:CHTR) irrelevant to their customers. It has left most of the Cloud Czars in the dust. Investors who buy the shares, at any price, suddenly become a gatekeeper to entertainment for a generation. That's the argument analysts at Market Realist are selling, comparing Roku directly to Netflix.The comparison sounds valid. ROKU is now roughly where Netflix was 4 years ago, just about to make its turn toward international growth. It doesn't yet break out international numbers, but its ambitions are obvious. ROKU collects data directly from consumers, which drives its choices on what to offer through its own, ad-supported Roku channel.On the other hand, streaming is an easy hack. As Roku's own shareholder letter notes, anyone can easily stream from a game machine like the Microsoft Xbox or the Sony (NYSE:SNE) PlayStation. There are tens of millions of such devices in consumers' living rooms. Apple, Google and Amazon are all out there, along with Tizen, an open-source project backed by Samsung (OTCMKTS:SSNLF) and Intel (NASDAQ:INTC).ROKU is not Netflix. It does not have nearly the control over future streaming that Netflix has.But it is in a very powerful position. It's sitting at a poker table with 19 chips, next to players who have hundreds of them, and it has a hand with four aces.Roku probably has a year or two to cash in its chips, maybe to one of its cable rivals, maybe to Disney (NYSE:DIS), maybe to one of the Cloud Czars. They're all facing a build-or-buy decision, but when one (or more) decides to spend whatever it takes to take out ROKU, watch out.Today's investors are betting that it knows when to cash in.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AAPL, MSFT and AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 3 Artificial Intelligence Stocks to Buy * 7 Industrial Stocks to Buy for a Strong U.S. Economy * 3 Beaten-Down Bank Stocks to Buy and Hold for the Long Term The post Roku Stock Looks Poised to Be Acquired appeared first on InvestorPlace.

  • Why Is CBS (CBS) Down 14.2% Since Last Earnings Report?
    Zacks

    Why Is CBS (CBS) Down 14.2% Since Last Earnings Report?

    CBS (CBS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • American City Business Journals

    Atlanta Braves veteran, UPS exec among 50 'most influential Latinos in Georgia'

    The Georgia Hispanic Chamber of Commerce picked its 50 "most influential" Latinos in the state.

  • PR Newswire

    CBS Corporation Chief Creative Officer David Nevins To Participate In The Bank of America Merrill Lynch 2019 Media, Communications & Entertainment Conference

    NEW YORK , Sept. 6, 2019 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced that David Nevins , CBS' Chief Creative Officer and Chairman and CEO of Showtime Networks Inc., will participate ...

  • Broadcast Radio and Television Industry Near-Term Outlook Dim
    Zacks

    Broadcast Radio and Television Industry Near-Term Outlook Dim

    Broadcast Radio and Television Industry Near-Term Outlook Dim

  • Jerry Jones: Sports betting will increase value of NFL TV rights by 50%
    Yahoo Finance

    Jerry Jones: Sports betting will increase value of NFL TV rights by 50%

    Jerry Jones claims the NFL can get 50% more from its next TV contracts than it did last time around – thanks to sports betting legalization.

  • Automotive Minute: Nissan commits to NCAA sponsorships leading to March Madness in Atlanta
    American City Business Journals

    Automotive Minute: Nissan commits to NCAA sponsorships leading to March Madness in Atlanta

    Nissan has become an official partner of the NCAA and an official corporate partner of NCAA Men’s Basketball and the Final Four.

  • There's A Lot To Like About CBS Corporation's (NYSE:CBS) Upcoming 0.4% Dividend
    Simply Wall St.

    There's A Lot To Like About CBS Corporation's (NYSE:CBS) Upcoming 0.4% Dividend

    CBS Corporation (NYSE:CBS) stock is about to trade ex-dividend in 4 days time. Ex-dividend means that investors that...

  • Why Amazon Prime Video Will Keep AMZN Stock on an Upward Path
    InvestorPlace

    Why Amazon Prime Video Will Keep AMZN Stock on an Upward Path

    Fall means football. It hopefully means cooler weather. It also means a new TV season. While we once waited breathlessly for the latest from CBS (NYSE:CBS), Disney's (NYSE:DIS) ABC or Comcast's (NASDAQ:CMCSA) NBC, we're now more likely to focus on what's coming from Netflix (NASDAQ:NFLX), Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL) YouTube and Amazon's (NASDAQ:AMZN) Prime.Source: Volodymyr Plysiuk / Shutterstock.com The season has already begun as Amazon begins streaming Carnival Row. This is either a gritty version of Sherlock Holmes meets Tinker Bell, another liberal bashing of immigration laws or Orlando Bloom's big comeback.Maybe it's all three.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCarnival Row also proves that AMZN is not only a TV network, but a big Hollywood studio and the new home for executive intrigue. Amazon Prime EverywhereWhile first launched as an add-on to free shipping, Amazon's Prime Video is becoming a key stand-alone business for the company. As the cost of building clouds drops, and more companies build their own, Cloud Czars like Amazon face the challenge of filling their clouds with must-have services. * 10 Mid-Cap Stocks to Buy Amazon's Prime efforts, including its free IMDb service, which it's turning into something more like cable, are having their effect. Amazon is even gaining traction against Netflix in the race for America's attention.Amazon is pressing its advantage.Amazon stepped up when Disney offered its Yes Network, which televises sports teams, including the New York Yankees. Amazon is buying exclusive content at film festivals and burying the hatchet with Google. It's offering programming deals on its streaming stick to take share from Roku (NASDAQ:ROKU).Video works for Amazon because, unlike all its competitors, it is its own advertiser. Consumers watch Amazon lingerie shows, or concerts, then stay to buy clothes or back to school items. Disney Cuts Nose, Spites FaceCompetitors like Disney clearly see that Amazon can monetize its content like no one else.With its Fire Stick, Fire TV and Prime Video, Amazon has bypassed all the old gatekeepers of media and commerce. It's a platform. It's a host of programming services riding that platform. As in the case of the Taylor Swift concert, it's the store these services advertise. It's an ecosystem unique in the history of business.That may be why Disney+ won't launch on the Amazon Fire Stick, although it's launching on every other streaming platform. It's not a technology issue. It's a deliberate business choice, one that could help Roku and Apple (NASDAQ:AAPL) take share in the platform derby.That may also be why the sabbatical of Amazon executive vice president Jeff Blackburn is being covered like a Hollywood scandal. Not that AMZN hasn't had its share of Hollywood scandals, including a me-too scandal that took down its head of content two years ago.But none of this may matter. Amazon is the platform that re-sells its competitors services. Amazon Prime is not just a streaming product, but a whole host of channels. Amazon can enter into, and even dominate, the European market at no incremental cost. Amazon is the advertiser that makes money from advertising. * 7 Stocks to Buy In a Flat Market The Bottom Line on AMZN StockWhile Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) has been lightening up on stocks this year, it has been increasing its purchases of Amazon. So have hedge funds like William Ackman's Pershing Square. So have I.This is happening despite two failures to hold the $2,000 per share level, or the $1 trillion valuation Microsoft (NASDAQ:MSFT) flew past without looking back at early this year. Amazon now trades at 13% less than it did a year ago, and it pays no dividend.Yet at its opening price of $1,772 per share, Amazon stock remains a great bargain for any investor with a five-year time horizon. Video is one reason why.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AAPL, MSFT and AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Best Tech Stocks to Buy Right Now * 10 Mid-Cap Stocks to Buy * 8 Precious Metals Stocks to Mine For The post Why Amazon Prime Video Will Keep AMZN Stock on an Upward Path appeared first on InvestorPlace.

  • MarketWatch

    CBS, Viacom shares fall after Bernstein gets more bearish

    Shares of CBS Corp. and Viacom Inc. are off in premarket trading Tuesday after Bernstein analyst Todd Juenger grew more bearish on the prospects for the combined company once their merger goes through. He lowered his price target on CBS's stock to $35 from $46 and on Viacom's stock to $21 from $27. "Despite hundreds of years of trying, it remains impossible to have one's cake and eat it too," Juenger wrote. "Worse, we worry ViacomCBS will bake two cakes that nobody wants to eat." He argues that ViacomCBS will face hard choices as it tries to build out a direct-to-consumer (DTC) business while still competing in linear television. In Juenger's view, shows like "The Daily Show" hold little "library value" as viewers don't want to watch old episodes of news-oriented comedy shows, meaning that ViacomCBS wouldn't be able to draw consumers to a DTC offering by promising an archive of older seasons. If ViacomCBS were to drop new episodes on its streaming service at the same time as they aired on linear TV, Juenger worries that would " very quickly cannibalize [the company's] distribution and affiliate fee pricing." Viacom shares are down 14% in the past three months, while CBS shares have fallen 13%. The S&P 500 has risen 6.6% in that time.

  • With Increasing Competition, Netflix Stock Looks Less and Less Bulletproof
    InvestorPlace

    With Increasing Competition, Netflix Stock Looks Less and Less Bulletproof

    Netflix (NASDAQ:NFLX) was already struggling in the United States, losing 130,000 domestic subscribers a quarter ago, sending Netflix stock much lower as a result.Source: Riccosta / Shutterstock.com Now, a recent survey taken by UBS sets the stage for even more shareholder setbacks. As it turns out, a sizable number of U.S. consumers say they're likely to subscribe to the upcoming rival streaming service Walt Disney (NYSE:DIS), and they're even willing to cancel an existing subscription to get it.Consumer surveys are dangerous, of course. What people say they're going to do and what they actually do aren't always one and the same.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn this case, though, the picture being painted by the UBS survey jibes with other findings that point in the same direction. Survey Says Netflix Stock Is VulnerableIt's a debate that's been raging for years: How well can Netflix stand up to streaming competition once that competition gets serious? Confidence in the company's ongoing dominance seemingly strong, but a closer inspection of that support reveals a great deal of it is coming from current owners of NFLX stock. They're arguably a tad biased. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off The bulk of that bias could snap soon, however, if the underlying message delivered by the latest UBS survey is any indication. In short, as of mid-August, 43% of U.S. consumers say they have plans to subscribe to Disney+, slated for launch in November.Of that 43%, 57% of them (or 24.5% of the total number of individuals surveyed) said they'll cancel a rival service to make room for the new one in their lives.That's where Netflix's dominance becomes something of a liability. Serving the most customers means it has the most customers to lose.Netflix isn't the only vulnerable name, of course. Amazon.com (NASDAQ:AMZN) offers streaming video as part of its Prime package, and Hulu was just starting to get real traction.Such comparisons mean less and less though. The streaming piece of Prime also encourages using Amazon's ecommerce platform; Prime members spend more than twice as much at Amazon.com as non-Prime members do. Disney also owns most of Hulu, and will offer a bundled package of it, Disney+ and ESPN that's drawing a lot of attention already. Disney can also monetize its content in other ways, and in most cases, will already have done so.Netflix, in the meantime, only drives revenue one way, with one platform. The Future Looks DifferentThe results of the UBS survey have materialized at a time when the streaming industry has fully matured.The arrival of Disney's alternative to Netflix is evidence of that idea, though the now-crowded field already made it clear. It will join Hulu and Prime on the SVOD landscape, while Apple (NASDAQ:AAPL) is making its way there. AT&T (NYSE:T) isn't far behind Apple, aiming to launch a new-and-improved streaming service later this year.CBS (NYSE:CBS) is even finding surprising traction with its home-grown, niche-minded streaming platform, which reportedly boasts 8 million paying customers versus the 30 million subscribers expected for Disney+ by 2024.The advent of so many services at essentially the same time in the industry's life is testing the theories about how many different streaming subscriptions a consumer is willing to pay for.The estimated number has changed over the years, but a separate survey taken by UBS in June further gels the figure at right around three, if not less. That survey indicated that only 13% of consumers were willing to pay for more than three OTT services.That finding opens the door to the possibility that consumers could enjoy Disney+ and remain a subscriber to Netflix, rather than choose one over the other.Other data suggests Netflix may not be as firmly positioned as it and owners of NFLX stock want to think it is, however. Last quarter's decline of 130,000 North American subscribers? It was the first-ever dip in the company's domestic headcount, taking shape following a price-hike that hadn't proven problematic in the past.Suspiciously, the domestic headwind started to take shape only when there were several quality alternatives to Netflix available to consumers. Bottom Line for Netflix StockIt's a mostly-unpopular notion to suggest Netflix is anything but infallible; a small handful of Netflix shareholders really, really love the company and aren't shy about vocally defending it. Their support usually leveraged the admittedly-impressive past growth trajectory.Those historically-based arguments hold less and less water though. The case against Netflix stock is rooted in the current transition underway right now. It only began in earnest earlier this year, and won't peak until later this year when Disney+ is finally launched. The fallout impacting Netflix, if there is one, is anything but clear yet.The cracks are starting to form though. Last quarter's domestic subscriber loss was one of them. The shift puts a massive amount of pressure on Netflix's international business.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off * 7 'Strong Buy' Stocks to Beat Volatility * 7 Mega-Cap Tech Stocks on a Rebound Now The post With Increasing Competition, Netflix Stock Looks Less and Less Bulletproof appeared first on InvestorPlace.

  • CBS outlet in Chicago dealt big blow in August news ratings derby
    American City Business Journals

    CBS outlet in Chicago dealt big blow in August news ratings derby

    Channel 2's late local newscast already was struggling, and new woes just recently resolved only look to have made the situation worse.

  • The World's Top Ten Media Companies
    Investopedia

    The World's Top Ten Media Companies

    Investopedia provides the list of top global media companies, including market capitalization and areas of operations.