CBS - CBS Corporation

NYSE - NYSE Delayed Price. Currency in USD
50.29
-0.18 (-0.36%)
At close: 4:02PM EDT

50.29 0.00 (0.00%)
After hours: 5:40PM EDT

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Previous Close50.47
Open50.36
Bid50.06 x 1300
Ask50.58 x 1000
Day's Range49.49 - 50.53
52 Week Range41.38 - 59.59
Volume1,505,317
Avg. Volume2,330,114
Market Cap18.853B
Beta (3Y Monthly)0.90
PE Ratio (TTM)6.28
EPS (TTM)8.01
Earnings DateAug 8, 2019
Forward Dividend & Yield0.72 (1.43%)
Ex-Dividend Date2019-06-07
1y Target Est62.24
Trade prices are not sourced from all markets
  • Rocked by Stock Rout, ‘Hunger Games’ Studio Is Ready to Talk
    Bloomberg9 hours ago

    Rocked by Stock Rout, ‘Hunger Games’ Studio Is Ready to Talk

    (Bloomberg) -- The studio that brought you “The Hunger Games,’’ “Mad Men’’ and “John Wick’’ is now facing its own existential question.Lions Gate Entertainment Corp. has lost more than half its market value over the last year as the once-idolized filmmaker struggles to find new megahits. On top of that, recent mergers have created entertainment behemoths that threaten to make smaller studios an afterthought in Hollywood’s new blockbuster environment.All that has created a new sense of urgency around the 22-year-old Lions Gate as it weighs its future: open itself to being acquired, sell off pieces, or try to bulk up to compete with the giants.“Some studios have scale and unfortunately some studios are now subscale,” said John Tinker, an analyst at Gabelli & Co. “The question is obviously, if you are a smaller studio and you do not own Marvel, what are you going to do?”Investors are worried and frustrated that management may have missed the M&A boat, said Geetha Ranganathan, a Bloomberg Intelligence analyst. “Time and options seem to be running out.”Lions Gate shares fell as much as 5.3% Monday to a seven-year low of $11.38 in New York. The company declined to comment.The studio was formed in 1997 in Vancouver by movie-loving mining financier Frank Giustra. It made its name distributing R-rated movies like “American Psycho” and, with the acquisition of Summit Entertainment in 2012, was propelled into the big leagues by the teen-vampire “Twilight” film saga. That same year it also launched the “The Hunger Games’’ franchise. (The studio announced last week there might be a prequel.)But as a smaller company, Lions Gate has long been a target of merger speculation. Companies from Metro-Goldwyn-Mayer to Sony to CBS Corp. have been linked to potential deals. Two years ago, Lions Gate walked away from talks with game-maker Hasbro Inc. involving a $41 a share offer, worth almost $9 billion, people familiar with the situation said.Today, the stock trades below $12, weighed down by two years of declining revenue in its motion picture division, and merger talks have picked up again. Lions Gate has held informal discussions in the past year with companies that may be interested in buying the whole business, people with knowledge of the situation said. But with the stock at seven-year lows, the studio isn’t interested in selling itself at the moment, people close to the situation said.A handful of other strategies are under discussion. One is to buy a stake in Miramax, the film producer formerly owned by the Weinstein brothers, one of the people said. Its current owner, BeIn Media Group, has recently sought buyers for a minority stake. Such a move would give Lions Gate access to a library of Oscar-winning movies such as “Shakespeare in Love” and, more recently, revived franchises like “Halloween.” A Miramax spokesman declined to comment.Starz SaleThe company is also considering selling the studio’s pay-cable network Starz, which contributes more than half its profits. Lions Gate last month turned down a $5 billion informal bid from CBS for Starz, but a sale remains a possibility, according to people familiar with the situation. If that happens, industry sources say, a slimmed-down Lions Gate might become more attractive to potential bidders. Others suggest the studio would be a tough sell without Starz.Meanwhile, the studio is looking to raise perhaps several hundred million dollars from investors to expand Starz internationally. That effort will be slowed down by upcoming negotiations with AT&T’s DirecTV over fees to carry the channel.At recent stock prices, Lions Gate is valued at less than the sum of its parts, according to Tim Nollen, a Macquarie Capital analyst. Shares could be worth $21 in a breakup, with a $5 billion valuation for Starz, $1.5 billion for the motion picture unit and $1 billion for the TV segment.Malone StakeFor investors such as cable magnate John Malone, who first bought shares in 2015 at around $30, it’s a rare miss. He controls about 8% of Class A shares. Hedge fund manager Mark Rachesky, Lions Gate’s chairman, is the biggest investor with a 19% Class A stake. He has owned shares since 2004 and backed the studio in fighting off a takeover by Carl Icahn in 2010.A spokeswoman for Malone did not return requests for comment. A spokeswoman for Rachesky declined to comment.Trends sweeping Hollywood will only make it more difficult for Lions Gate to remain independent. The merging of Disney and Fox’s film companies, and AT&T and Time Warner Inc., along with Comcast’s Universal Pictures, has created a trio of studios that own and produce well-known blockbuster movie franchises, such as the Marvel superhero universe and DC Comics. The result is a small group of big films increasingly dominating the box office.Netflix ProductionMoreover, buyers for Lions Gate’s typically mid-budget fare may be shrinking. Disney and WarnerMedia are investing billions in making their own shows to lure subscribers to new streaming services. Netflix Inc., too, is producing more and more of its original content in-house, a big change from the early days when Lions Gate’s “Orange Is the New Black’’ helped make the streaming channel required viewing. That trend could lessen demand for TV programs and films made by independent studios.Lions Gate has had some successes lately. “John Wick: Chapter 3--Parabellum” helped lift it to fourth in the box office this year, ahead of competitors like Viacom Inc.’s Paramount Pictures and Sony Pictures. And the studio is still finding buyers for its shows, recently selling to HBO, NBC and even streaming platforms run by WarnerMedia and Apple Inc.Jim Gianopulos, chief executive officer of one of the smaller shops, Paramount Studios, said that appealing programming will ultimately win out regardless of production size. “Scale has its virtues, but the creative process is independent of it,” Gianopulos said in an interview.But some analysts aren’t so confident.“For the longest time, people thought the studios would come out as the winners because they own the content,” Ranganathan said. But in the wake of the mergers, “You need established franchises. If you don’t have scale, you can’t compete.”(Updates with analyst’s comment 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: David Papadopoulos at papadopoulos@bloomberg.net, ;Nick Turner at nturner7@bloomberg.net, Larry ReibsteinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CBS Inches Closer to Bidding on Viacom
    Market Realist9 hours ago

    CBS Inches Closer to Bidding on Viacom

    The Wall Street Journal reports that at a recent meeting, CBS (CBS) directors discussed a potential merger with Viacom (VIAB).

  • Trump Warns of More Iran Sanctions, But Not Much Is Left for U.S. to Target
    Bloomberg15 hours ago

    Trump Warns of More Iran Sanctions, But Not Much Is Left for U.S. to Target

    (Bloomberg) -- President Donald Trump is threatening Iran with additional sanctions on Monday, but there’s not much left for the U.S. to target because most of the Islamic Republic’s economy has been crippled by earlier penalties.The U.S. is already sanctioning significant sectors including oil, banks and steel, leaving smaller targets including certain exports and government officials. Trump could also hit Iran’s central bank with secondary sanctions, at the risk of hurting humanitarian trade.“The Trump administration has already hit most of Iran’s cash-earning exports and pushed the country into a deep recession this year,” said Peter Harrell, a fellow at the Center for New American Security, a Washington-based research group. “A lot of exports to Iran have dried up because of risk aversion and all the banking sanctions.”Trump announced plans for major sanctions on Saturday, following his abrupt cancellation of planned air strikes against the Islamic Republic for shooting down a U.S. Navy drone on Thursday.More than 80% of Iran’s economy is under sanction today, U.S. Secretary of State Mike Pompeo said Sunday before heading to Saudi Arabia and the United Arab Emirates to rally a front against Iran. The new sanctions “will be a further effort to ensure that their capacity not only to grow their economy but to evade sanctions becomes more and more difficult,” Pompeo said.Tensions have spiked in the Gulf since May, when the Trump administration revoked waivers on the import of Iranian oil, squeezing its economy a year after the U.S. walked away from the landmark 2015 deal meant to prevent the Islamic Republic from developing a nuclear weapon. Since then, a spate of attacks on oil tankers near the Strait of Hormuz shipping choke point have raised the specter of war and pushed up oil prices. The U.S. has blamed the attacks on Tehran, which has denied any wrong doing. On Monday, Trump questioned in comments on Twitter why the U.S. was protecting the shipping route on behalf of other countries. Trump Questions U.S. Defense of Oil in Strait After Iran AttacksIran’s Foreign Ministry said the new penalties won’t force the country to negotiate or capitulate.“Are there any other sanctions left for the U.S. to impose on Iran?” ministry spokesman Abbas Mousavi said Monday, according to the official Islamic Republic News Agency. The Trump administration “knows full well that if pressure and sanctions were the answer, they would have yielded results much earlier.”Iran’s navy chief warned earlier that other drones would be downed if U.S. intrusions into Iranian airspace continue. The U.S. says the aircraft was in international airspace.The U.S. has applied sanctions to nearly 1,000 Iranian entities, including banks, individuals, ships and aircraft. In May, the Trump administration prohibited the purchase of Iranian iron, steel, aluminum and copper.The U.S. has also revoked waivers that had allowed eight countries including India and China to import Iranian oil despite American sanctions. Trump seeks to drive Iranian oil exports to zero to force Tehran to abandon support for militant groups in the Middle East and renegotiate the 2015 nuclear accord the U.S. quit a year ago. Observed crude flows from Iran dropped to 190,000 barrels a day in the first half of June, less than 10% of the volume shipped in early 2018.Forecasts from earlier this year show Iran’s GDP set to contract 6% this year after declining 4% in 2018.Exceptions to U.S. sanctions on Iranian oil sales will be made for humanitarian purchases such as for food and medicine, though it’s not clear how those would be determined or approved.The U.S. Treasury Department has also sanctioned Iran’s central bank governor and another senior official in the bank for allegedly providing support for terrorist activities.‘More Desperate’The moves so far haven’t been enough for at least one Republican lawmaker. Representative Michael McCaul of Texas, the top GOP member of the House Foreign Affairs Committee, on Sunday egged on the Trump administration’s efforts.“We want them to be more desperate,” McCaul said on CBS’s “Face the Nation” news program. “We want them to have their economy crippled” so Iranian leaders will negotiate, he said.But with little left to sanction, added punishments would be mostly symbolic and “risk Iran escalating in retaliation,” Harrell said.Iranian authorities have already said new sanctions show that Trump’s call for negotiations -- repeated over the weekend -- was hollow. On Monday, President Hassan Rouhani’s adviser Hesameddin Ashena suggested the U.S. needs to offer incentives to Iran if it wants concessions.(Updates with Iran spokesman in sixth, seventh, navy official in eighth, Rouhani adviser in 16th.)To contact the reporters on this story: Saleha Mohsin in Washington at smohsin2@bloomberg.net;Ladane Nasseri in Dubai at lnasseri@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Amy Teibel, Michael GunnFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Trump denies sexually assaulting New York advice columnist in mid-1990s
    MarketWatch3 days ago

    Trump denies sexually assaulting New York advice columnist in mid-1990s

    A New York-based advice columnist claims Donald Trump sexually assaulted her in a dressing room at a Manhattan department store in the mid-1990s, according to a first-person account published Friday by New York magazine.

  • Company News For Jun 20, 2019
    Zacks5 days ago

    Company News For Jun 20, 2019

    Companies In The News Are: VIAB,CBS,ADBE,X,AGN,IRWD

  • MarketWatch6 days ago

    Stocks end higher after Fed bolsters rate-cut hopes

    U.S. stocks ended modestly higher Wednesday after the Federal Reserve left their benchmark interest rate unchanged at a range between 2.25% and 2.50%, but opened the door to rate cuts later this year. The S&P 500 was up 0.3% to end around 2,926. The Dow Jones Industrial Average advanced 29 points, or 0.1%, to finish near 26,504, based on preliminary numbers. The Nasdaq Composite was up 0.4% to finish around 7,987. The U.S. central bank took out the phrase "patience" from its policy statement, and said it stood ready to act appropriately if risks to the economic outlook reared their head. The Fed's interest-rate projections also showed close to half the members of the central bank's policy-making group anticipated two rate cuts this year. The 10-year Treasury note yield fell to 2.02%, its lowest since Nov. 8 2016. In company news, shares of CBS Corp. were up 1% after news reports said the media giant was readying an offer to buy Viacom Inc.

  • Southwest boosts guidance, Dish close to major deal, CBS may get back together with Viacom: Companies to watch
    Yahoo Finance6 days ago

    Southwest boosts guidance, Dish close to major deal, CBS may get back together with Viacom: Companies to watch

    Southwest Airlines, Dish, CBS, PG&E and Tesla are the companies to watch.

  • TheStreet.com6 days ago

    CBS and Viacom Shares Edge Higher on Renewed Merger Talk Reports

    shares edged higher in pre-market trading Wednesday following a report that suggested it is prepared to make a third attempt to combine with Viacom Inc. The Wall Street Journal reported yesterday that CBS has held preliminary talks with Viacom, which was split from the broadcaster by Sumner Redstone in 2005, with an aim to merger to two groups in order to allow for better leverage in negotiations with advertisers in a media landscape that values scale over content. Viacom CEO Bob Bakish is said to be in "pole position" to lead the combined group, the Journal reported, although discussions are expected to be complicated by efforts to value each group in relation to the other.

  • Investing.com6 days ago

    Stocks - Adobe, CBS, American Express Rise Premarket

    Investing.com - Stocks in focus in premarket trading on Wednesday:

  • Investing.com6 days ago

    Top 5 Things to Know in the Market on Wednesday

    Investing.com - Here are the top five things you need to know in financial markets on Wednesday, June 19:

  • After Hours: Adobe Beats on Cloud Performance, CBS Reportedly Making a New Play for Viacom
    Motley Fool6 days ago

    After Hours: Adobe Beats on Cloud Performance, CBS Reportedly Making a New Play for Viacom

    Adobe's subscription model is clearly working, and two big media companies seem to be getting closer to a remarriage.

  • CBS TV's Pittsburgh GM leaving for Los Angeles
    American City Business Journals7 days ago

    CBS TV's Pittsburgh GM leaving for Los Angeles

    Jay Howell, who became vice president and general manager at KDKA-TV, WPCW-TV and CBSPittsburgh.com last July has been named president and GM at CBS’ Los Angeles properties. Howell’s successor in Pittsburgh has not yet been announced.

  • Moody's7 days ago

    Canada's Wonderland Company -- Moody's assigns Cedar Fair's proposed senior notes a B1 rating; outlook stable

    Moody's Investors Service (Moody's) assigned Cedar Fair, L.P.'s (Cedar Fair) proposed senior unsecured note a B1 rating. The Ba3 Corporate Family Rating (CFR), Ba1 senior secured credit facility, and B1 Senior Unsecured rating for the existing notes were all affirmed. While the acquisition of the land in Santa Clara underneath the Great America park is a positive and results in Cedar Fair owning the land under all of its amusement parks, it does contribute to higher leverage levels.

  • Markit8 days ago

    See what the IHS Markit Score report has to say about CBS Corp.

    CBS Corp NYSE:CBS.AView full report here! Summary * Perception of the company's creditworthiness is neutral * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for CBS.A with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting CBS.A. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold CBS.A had net inflows of $1.12 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers’ Index (PMI) data, output in the Consumer Servicesis falling. The rate of decline is significant relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. CBS.A credit default swap spreads are decreasing, indicating some improvement in the market's perception of the company's credit worthiness. Additionally, they are within the middle of the range set over the last three years.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

  • Pompeo Vows That U.S. Will Protect Shipping in Persian Gulf
    Bloomberg9 days ago

    Pompeo Vows That U.S. Will Protect Shipping in Persian Gulf

    (Bloomberg) -- There’s “no doubt” Iran was responsible for attacks on two oil tankers leaving the Persian Gulf last week, and the U.S. will guarantee safe commercial navigation going forward with its partners, Secretary of State Michael Pompeo said.“The United States is going make sure that we take all the actions necessary, diplomatic and otherwise, that achieve that outcome,” Pompeo said on “Fox News Sunday,” one of two scheduled appearances on the political talk shows.Pompeo spoke days after he and President Donald Trump accused Iran of being behind attacks that crippled the tankers in the Strait of Hormuz, which abuts Iran and is a strategic choke point for crude oil coming out of the Persian Gulf.Asked how certain the U.S. is about Iran’s responsibility, Pompeo said, “it’s unmistakable what happened here” and there’s “high confidence” Iran was behind other attacks throughout the world during the past 40 days as well.The U.S. has released video of what it says was an Iranian boat approaching one of the tankers at night to remove an unexploded limpet mine and other evidence that it says point to Iran’s responsibility for the attacks.“Iran did do it and you know they did it,” Trump said Friday during a phone interview with Fox News.‘Economic Terrorism’Iran has denied any wrongdoing. The country’s foreign minister, Javad Zarif, on Friday suggested in a series of tweets that Iran’s enemies may have been behind the attacks, accusing the Trump administration of “economic terrorism’’ and blaming it for the “renewed tension in our region.”There’s no question Iran was behind the attacks, and it was a “Class A screw-up,” Democratic Representative Adam Schiff of California, chairman of the House Intelligence Committee, said Sunday on CBS’s “Face the Nation.” But the problem is the U.S. is struggling to persuade its allies to join in a response, he said.“It shows just how isolated the United States has become,’’ Schiff said.Pompeo said on CBS he is making calls to allies and “the world needs to unite against this threat.’’ He suggested that Iran is attacking international waterways to “drive up the price of crude oil around the world so that the world will cry uncle.”The incidents highlight the potential risks of the Trump administration’s aggressive approach toward Iran. They’ve raised fears that months of building tensions over Trump’s decision to abandon a multilateral nuclear deal and restore U.S. sanctions might trigger a military conflict between the U.S. and Iran.Retaliatory StrikeRepublican Senator Tom Cotton of Arkansas advocated an attack, saying on CBS that “these unprovoked attacks on commercial shipping warrant a retaliatory military strike.’’ Schiff noted that Trump has said he doesn’t want war with Iran, but that his advisers “seem to be taking actions to undercut that ambition to stay out of warfare.’’Schiff said Trump’s pressure campaign on Iran after withdrawing from the nuclear accord was “dangerously naïve” and that the attacks on shipping were “eminently foreseeable.”House Speaker Nancy Pelosi, in an interview conducted Thursday that aired on CNN’s “Fareed Zakaria GPS” on Sunday, said “we have absolutely no appetite for going to war, or to be provocative to create situations that might evoke responses, where mistakes could be made.”Pompeo blamed Iran for escalating the tensions. He declined to discuss what options the administration is considering in response, but said Trump has been clear that the Islamic Republic will not acquire a nuclear weapon.Arms SalesOn other matters, the secretary of state also said on Fox that Trump’s decision to push ahead with $8 billion in arms sales to Saudi Arabia and other Mideast nations, defying congressional opposition, “made enormous sense.”Asked about Trump’s comments suggesting the U.S. would not spy on North Korea, Pompeo said the U.S. is “taking all the actions that it needs to take to make sure we understand the risks and the threats that are posed by North Korea.”Pompeo said he also expects Trump will talk about human rights and Hong Kong if he meets with Chinese President Xi Jinping at the G-20 leaders’ meeting June 28-29 in Osaka, Japan. Almost 2 million protesters marched through Hong Kong Sunday a day, according to organizers, after leader Carrie Lam suspended -- but didn’t withdraw -- a controversial extradition bill.(Updates with Pompeo, Cotton, Pelosi and Schiff from eighth prargraph.)\--With assistance from Kevin Varley.To contact the reporters on this story: Mark Niquette in Columbus at mniquette@bloomberg.net;Shawn Donnan in Washington at sdonnan@bloomberg.netTo contact the editors responsible for this story: Simon Kennedy at skennedy4@bloomberg.net, Mark Niquette, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • The 10 Best Cheap Stocks to Buy Right Now
    InvestorPlace11 days ago

    The 10 Best Cheap Stocks to Buy Right Now

    [Editor's note: This story was previously published in February 2019. It has since been updated and republished by InvestorPlace staff.]With the market up more than 20% since the late-December lows, the argument that stocks -- at least some stocks -- are back to being overvalued and overbought holds at least a little water. Others argue that the rebound rally has only just begun, and valuation isn't yet a problem.The truth is, as usual, somewhere in the middle of the two extremes.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor a surprising number of names, however, it's a debate that's largely irrelevant. Some stocks are simply (still) too cheap to overlook, poised to make gains whether or not the broad market's tide helps out in the foreseeable future. For deeply undervalued equities in anything but a wildly bearish environment, the bigger risk is being on the sidelines rather than in a position. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 To that end, here's a rundown of 10 of the market's best cheap stocks to buy right now. In some cases, the per-share price is just oddly low. In other cases, prices compared to earnings are well into single-digit territories. In most cases, both qualities apply. In no particular order …Source: NASA Blueshift via Flickr CBS Corporation (CBS)CBS Corporation (NYSE:CBS) may be down of late, but I still have confidence in CBS stock anyway. The television giant has improved in a big way where it needed to the most … streaming. By 2022, it should have 25 million streaming customers in tow.It's only a sign of the current paradigm shift in how video is delivered to consumers. It's also the reason we've seen a frenzy of M&A within the film and TV arena, the most notable of which is the Walt Disney (NYSE:DIS) acquisition of Twenty-First Century Fox (NASDAQ:FOXA). CBS has also jockeyed to acquire Viacom (NASDAQ:VIAB).With CBS stock priced at only 7.5 times this year's expected earnings though, the company would also make for a dirt-cheap entry or expansion into the entertainment industry. Air Lease (AL)Source: Karen Neoh via FlickrAir Lease (NYSE:AL) relies on at least a decent economy to drive demand for passenger jets, and recently, investors have seen what they think are too many red flags.Take a closer look at all the data, though, and matters aren't as dire as they may seem. While global economic growth may be running into a near-term headwind in the wake of plenty of political drama, in the bigger picture, airlines still desperately need new aircraft to satisfy demand.In November of last year, and for the 12 months ending then, enplanements and total miles flown once again reached record levels. Boeing (NYSE:BA) believes that between now and 2037, the world's airlines will take delivery of more than 42,000 new aircraft. * 7 First-Half IPO Stocks That Will Falter in 2019's Second Half Given that trend and outlook, Air Lease is undervalued at its forward P/E of just above 5.8. Micron Technology (MU)Source: Shutterstock Add Micron Technology (NASDAQ:MU) to a list of cheap stocks to buy before it's no longer cheap.It's not an easy idea for some investors to get behind. The ramp-up of computer memory production has created a price-cutting glut, and it took a toll on Micron's most recently-reported quarter's bottom line. The previous quarter's gross margins of 59% were further projected to slip to between 50% and 53%, versus estimates of 55%.This is a cycle investors have seen over and over again, however, with the same end result every time. That is, producers will curtail production, abating supply and restoring pricing power. Rivals Samsung Electronics (OTCMKTS:SSNLF) and SK Hynix, in fact, have already decided to slow their DRAM expansion plans, and Micron has vowed to cut capital expenditures by more than $1 billion this year.It could take a while for tempered production to restore DRAM prices, but trading at only 7.6 times this year's projected per-share profits, MU stock is worth the wait. It has been every time before. Citigroup (C)Source: Shutterstock Citigroup (NYSE:C), like most bank stocks, had a rough 2018, and though it has bounced this year, the 2019 rally to-date has been subpar. The stock is trading at a trailing P/E of 10, and a forward-looking earnings multiple of 8 … cheap even by current banking stock standards, which have been abnormally low.The reason for the mismatched price and forecasted earnings is understandable enough. That is, enough investors are convinced interest rates are going to become just a little too high against a backdrop of just a little too much economic weakness. The concern is largely manifested in the flattening yield curve, which is particularly problematic for banks. * The 7 Best Tech Stocks to Buy for the Second Half of 2019 As was the case with Air Lease though (and will be for several others below), the worry isn't fully merited. NCR Corporation (NCR)Source: Shutterstock You may know the company better as National Cash Register Corporation, even though it changed its name years ago to NCR Corporation (NYSE:NCR). The less-limiting moniker reflect the fact that point-of-sale devices are now much more than a means of completing a sale. Since then, the company has expanded into areas like ATM machines, self-service kiosks and full-blown inventory management platforms.It's certainly a move in the right direction, although it's arguable the market isn't giving the new NCR enough credit. Shares are priced at only 10 times this year's projected profits.That might have something to do with the fact that outfits like Square (NYSE:SQ) and Paypal (NASDAQ:PYPL) are encroaching in NCR's turf. It's a legitimate concern too. There's a huge subset of companies, however, that will prefer to do business with a long-established name like NCR. Timken (TKR)Source: Oleg Zaytsev via FlickrTimken (NYSE:TKR) is anything but a household name. The company makes ball bearings and industrial transmissions to supply mechanical power where it's needed in a manufacturing environment.It's anything but a riveting (pun fully intended) business. But, it's a business that's starting to grow in earnest again as America's industrial engine revs. After rolling over in 2015 as the nation started to fully transition to a service-oriented economy, the United States began making more goods again in 2016. It's never looked back. * 5 Great Dividend Stocks to Buy From the Tech Sector The paradigm shift has proven to be a boon for Timken, which has grown revenue at a double-digit pace since early 2017. Better still, the new revenue trend has set the stage for earnings growth this year that translates into a projected P/E of only 8.3. General Motors (GM)Source: Shutterstock There's no denying General Motors (NYSE:GM) ran into a headwind three years ago, when "peak auto" became a reality. Though a victim of its own rampant success -- subsequent comparisons have all looked lackluster -- investors tend to only care about how current results stack up against the recent past.Those investors, however, may be unfairly harsh with their treatment of GM stock and its peers. While it remains unclear when we'll see another automobile purchase growth cycle again, General Motors is still a solid cash cow, yielding 4.25% while it sports a dirt cheap trailing P/E of 5.7.Regardless, the carmaker continues to impress regardless of the stock's valuation. Nicolas Chahine commented, "the 2018 barrage of tariff headlines made GM stock a tough trade as it fell sharply off its January 2018 highs. This year so far it has been the total opposite. GM management clearly gave Wall Street reason to rejoice and buy the stock and investors ate it up. This morning, they backed up their claim…" Lumentum Holdings (LITE)Don't worry if Lumentum Holdings (NASDAQ:LITE) is an unfamiliar name -- most investors probably haven't heard of it. The company makes communications equipment and industrial lasers, and has a big presence in the fiber optic industry.There has never been a time when the world has needed such high-speed connectivity. As more and more wireless devices compete for a finite amount of radio frequency bandwidth, middlemen are looking for easier and faster ways to offload some of that traffic to physical infrastructure. Fiber optic lines are more than up to the task. * 3 Hot Trades for 3 Spicy IPO Stocks The market doesn't seem to see it yet, pricing LITE stock at a forward P/E of 9.7 despite this year's expected revenue growth of 28% and next year's 27%. As time passes though, Lumentum's role in the future of telecom will become clearer. Terex (TEX)Source: Shutterstock Name any piece of mobile machinery, and Terex (NYSE:TEX) probably makes it. From backhoes to cherry pickers to tracked conveyers to cranes, Terex has solutions for almost any industrial application.That diversity hasn't helped revenue in a while, with the top line peaking in 2014. The stock has been hit-and-miss since then … more misses than hits.The doubters may have overshot their pessimism though, sending TEX stock to a forward-looking P/E of 7.2 following what should be nearly 17% revenue growth for 2018. While sales growth is expected to slow this year, the company more often than not topped sales and earnings estimates in 2018. It may hold a few pleasant surprises in store this year. Capital One (COF)Source: Eric Hauser via Flickr (Modified)Last but not least, add credit card company Capital One Financial (NYSE:COF) to your list of cheap stocks to consider here.Like Citigroup, Air Lease and others, investors have been fearful that a slowing economy -- maybe even a shrinking one -- could work against Capital One. In fact, rising interest rates could hit Capital One particularly hard in that situation, as its target market of risky borrowers could be the first to underpay of stop payments altogether should the global economic condition sour. * 3 Hot Internet Stock Trades It's another case, however, where the doubters may have overshot. COF stock is now priced at only 7.5 times this year's expected profits, making it one of the cheapest stocks to own in the financial sector. The worst-case scenario is more than priced in.As of this writing, James Brumley held a long position in CBS Corporation. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Oversold Stocks to Run From * 7 Red-Hot E-Commerce Stocks to Consider * 4 Stocks Surging on Earnings Surprises Compare Brokers The post The 10 Best Cheap Stocks to Buy Right Now appeared first on InvestorPlace.

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