42.53 -0.22 (-0.51%)
After hours: 5:41PM EDT
|Bid||42.55 x 800|
|Ask||43.04 x 900|
|Day's Range||42.69 - 43.56|
|52 Week Range||32.08 - 43.96|
|Beta (3Y Monthly)||1.10|
|PE Ratio (TTM)||16.20|
|Forward Dividend & Yield||0.84 (1.93%)|
|1y Target Est||N/A|
SKY Italia has appointed Maximo Ibarra as its new chief executive effective Oct. 1 as it expands its business, the Italian unit of U.S. media group Comcast said on Tuesday. Ibarra, currently at the helm of KPN had announced earlier on Tuesday he would leave the Dutch phone group in September. Satellite broadcaster SKY Italia, which is going to launch a phone offer for clients later this year, said in a statement Ibarra's background in telecoms would help it to broaden its business.
(Bloomberg) -- Royal KPN NV Chief Executive Officer Maximo Ibarra is leaving the Dutch phone company less than two years into his job to run Comcast Corp.’s Italian pay-TV unit.Ibarra, 50, was named CEO of Sky Italia on Tuesday and will assume the role on Oct. 1, according to a statement from the Italian company. Bloomberg News earlier on Tuesday reported that Ibarra was leaving KPN to take the Sky Italia position. Shares of KPN fell as much as 4% in early trading and closed down 1.8% in Amsterdam.The resignation announced by KPN on Tuesday surprised some analysts given Ibarra’s short tenure, despite Italian newspapers having reported that he was a leading candidate for the Sky role. KPN is now searching for a successor to replace the Colombian-Italian executive, its first foreign CEO, when he leaves on Sept. 30.Ibarra had ambitions to put KPN back on the acquisition trail, people familiar with the matter said ahead of his April 2018 arrival. But a big KPN deal hasn’t happened and he has focused on cutting jobs and simplifying the company’s IT systems, while KPN contends with a tough competitive landscape in the Netherlands that’s spurred mergers among rivals.The departure is a loss for KPN, which will probably appoint an external successor, ABN Amro analyst Konrad Zomer said in a note. He doubted Chief Financial Officer Jan Kees de Jager would become CEO, while calling him “very solid,” and said other board members and senior management might not have the right profile.What Bloomberg Intelligence Says“The resignation of CEO Maximo Ibarra -- while executing his midterm plan unveiled in November -- will dent confidence in KPN’s ability to return to sustainable Ebitda growth. The management-team reshuffle could also create a window of opportunity for a takeover attempt, in our view.”--Erhan Gurses, Telecom analystClick here to view the researchKPN stock surged in late January after people familiar with the matter said Canada’s Brookfield Asset Management Inc. was in early-stage talks to make an offer for company. The fate of those talks is unclear and the Dutch government has since tightened its control over foreign takeovers.The shares are up about 11% since Ibarra took charge, compared with a 10% decline in the Stoxx 600 Telecommunications Index.“The supervisory board regrets but respects Maximo’s decision and accepts his resignation,” Chairman Duco Sickinghe said in a statement from KPN. The company said Ibarra will step down for “pressing family reasons.” KPN said the departure isn’t connected to a network outage in the Netherlands that lasted for hours on Monday, knocking out emergency phone services.“I regret the timing, but family reasons gave me no choice. I will dedicate myself the coming months to secure a seamless transfer to my successor,” Ibarra said in the statement.He will report to Andrea Zappia, head of Sky's continental European business. ``Our next introduction of broadband services will allow us to further expand our business in a crucial area for our clients and in which Maximo has extensive experience,'' Zappia said in the statement.By leaving so soon, Ibarra forfeits a one-time payment of 200,000 euros ($228 million) in cash and 200,000 euros in shares that was subject to a retention period, according to publicly-disclosed details of his contract that were confirmed by a KPN spokeswoman.Broadband PushHis telecommunications experience could help Comcast with plans to offer high-speed broadband in Italy through a deal with fixed-line operator Open Fiber SpA. Sky, mainly a satellite broadcaster in Italy, faces mounting competition from Netflix Inc. and Amazon.com Inc.’s Prime Video service.Ibarra ran the Italian business of Veon Ltd., renamed from VimpelCom Ltd., before joining KPN and oversaw one of Europe’s biggest telecom tie-ups -- the 2016 merger of VimpelCom’s Italian wireless network with the local unit of CK Hutchison Holdings Ltd.(Updates with confirmation from Sky Italia in second statement)\--With assistance from Sonia Sirletti and Dan Liefgreen.To contact the reporters on this story: Daniele Lepido in Milan at firstname.lastname@example.org;Ellen Proper in Amsterdam at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, Frank ConnellyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
On June 21, CenturyLink stock closed the trading day at $11.34. On the downside, the company’s immediate support lies near $11.26, while $11.42 could act as an immediate resistance level on a daily basis.
According to analysts’ consensus, CenturyLink (CTL) stock has a mean target price of $12.77 and a current market price of $11.35, which suggests an upside potential of 12.5% in the next 12 months.
Investors target stocks that have been on a bullish run lately. Stocks seeing price strength have a high chance of carrying the momentum forward.
In the first quarter of 2019, streaming platform Hulu added 3.8 million subscribers in the US, more than twice as many as Netflix's (NFLX) 1.74 million. Hulu’s subscriber base has now increased to 28 million, up from ~25 million in January 2019.
On June 20, CenturyLink was trading at a 12-month forward PE ratio of 8.60x. Charter Communications and Comcast’s 12-month forward PE ratios were 38.15x and 13.65x, respectively.
Although the company has 10 such facilities around the Houston area, this is the largest, spanning 32,000 square feet and employing at least 300 people.
(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 email@example.com;Nabila Ahmed in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: David Papadopoulos at email@example.com, ;Nick Turner at firstname.lastname@example.org, Larry ReibsteinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Internet service provider Starry Inc. has plans to expand into Georgia in the coming years. The ISP recently paid 48.5 million for 102 licenses in the Federal Communication Commission’s 24 GHz auction.
Walt Disney World's work on one of its newest resorts appears to be making headway as the rest of the Orlando tourism industry gears up for the Aug. 29 debut of Star Wars: Galaxy's Edge at Disney's Hollywood Studios theme park. A new permit filed June 16 with Orange County gives a peek at what crews are up to at the site of Disney's (NYSE: DIS) new 900-room resort — Reflections: A Disney Lakeside Lodge. The permit is for the demolition "associated with existing utilities and surrounding configuration" at 4420 Big Pines Road, which is near the construction site for the future resort slated to replace Disney's long-shuttered River Country water park.
The economic impact from being a World Cup host city has been estimated at between $160 million and $620 million.
Competition in advertising market gathers steam with television industry poised to take a major leap with addressable advertising.
Universal Orlando and SeaWorld Orlando aren't likely to follow the industry leader into massive price increases on their annual passes.
On June 19, Charter Communications (CHTR) stock closed the trading day at $397.75. On the downside, the company's immediate support lies near $395.35.
Now that investors have learned the specifics of its new streaming service, Disney (NYSE:DIS) stock has appeared unstoppable. Since falling to around $100 per share last December, the Disney stock price has risen by more than 40%.Source: Shutterstock Still, despite renewed optimism about Disney+, the company remains stagnant financially. As soon as investors discover streaming has not translated into massive profit growth, Disney stock could return to its range-bound ways. * The 7 Best Dow Jones Stocks to Buy for the Rest of 2019 Disney+ Took Disney Stock Out of Its RangeBack in April, when Disney stock traded in the $115 per share range, I predicted that DIS would propel its shares higher by getting revenge. I meant that the company would respond to Netflix (NASDAQ:NFLX), undermining its cable TV business by taking subscribers from NFLX.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSoon after, Disney stock price shot higher after the company revealed the specifics of its new streaming service, Disney+. Disney stock has moved steadily higher since then, and now the Disney stock price has surpassed $140 per share. Many expect Disney+ will hold up well not only against Netflix, but also against whatever offering Comcast (NASDAQ:CMCSA) or AT&T's (NYSE:T) WarnerMedia launch. Disney Stock Could Form a New RangeHowever, now Disney's situation reminds me of the plight of a character from a film for which the company now owns most of the rights, The Princess Bride. Like the character, Inigo Montoya, DIS has been in the "revenge business" so long, it may not know what to do next.Disney's Parks, Experiences, and Products division delivers consistent, double-digit profit growth. Blockbuster films such as Avengers: Endgame and last year's Black Panther continue to drive both headlines and massive profits. However, despite these successes, Disney stock appears to trade based on the performance of its channels. Losing some of the subscriber base of the Disney Channel and ESPN left DIS stock stuck in a range until recently. Now optimism about Disney+ has taken DIS out of this range.Still, for all of the accolades about Disney's streaming services, they do not fully make up for the revenue it lost from cable cutting. Disney's ESPN Networks received about $9 for every cable and satellite subscriber. ESPN+, the company's sports streaming station, costs only $4.99 per month. The company faces a similar challenge with Disney+, for which it charges only $6.99 per month.The disparity has now started to affect Disney's profit growth. Analysts, on average, predict that its profits will fall by 7.2% this year and 1.4% the next. Over the next five years, they think the company's average annual earnings will increase by only 1.8%. That makes the forward price-earnings ratio of Disney stock which is just under 22, seem high. Disney Stock Is a HoldThat does not mean that Disney stock has become a sell for long-term holders of DIS stock. Disney's iconic brands, theme parks, and media library have bolstered Disney stock for decades. I believe that will continue to be the case for decades to come. The 1.25% dividend yield of DIS stock may not attract multitudes of investors. Still, its payouts have increased in most years, and they could become a significant incentive for those who have held DIS for years.However, longer-term holders of Disney stock must still contend with the company's stagnation. Between early 2015 and April 2019, Disney stock became stuck in a range. Once investors realize that the company's profit growth will remain stagnant, I think the stock will again become rangebound. The Bottom Line on DIS StockThe near-term future of Disney could resemble the rangebound ways of its recent past. DIS stock has spiked higher in recent weeks amid optimism surrounding Disney+. Unfortunately, the positive sentiment could stop in its tracks once traders notice one important statistic: profit growth. ESPN+ and Disney+ will not fully offset the company's losses from cable cutting. Consequently, Wall Street analysts predicted that Disney's profits would decline both this year and next.Both the theme parks and the company's iconic brands will keep Disney stock stable. However, until the company can find a way to achieve higher profit growth, DIS stock will not bring investors a significant amount of magic.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * The 7 Best Dow Jones Stocks to Buy for the Rest of 2019 * 5 Boring Stocks to Buy This Summer * 7 S&P 500 Stocks to Buy With Little Debt and Lots of Profits Compare Brokers The post Why Disney Stock Could Remain Rangebound for a Long Time appeared first on InvestorPlace.
Analysts have set a mean target price of $410.15 on Charter Communications stock, which implies a potential return of 3.8% based on its closing price of $395.21 on June 18.
Amazon Music might be coming to a TV near you soon. Comcast is bringing the music streaming service to Xfinity X1 over the next few weeks. It says it's the first time you'll be able to access Amazon Music on a TV via a pay-TV provider.
A monstrous annual price increase at the world's busiest theme park resort opens the door for two of its hungry rivals.
The region is home to many styles of attractions, but coasters without inversions have been popular lately.