|Bid||112.770 x 800|
|Ask||112.720 x 800|
|Day's Range||112.100 - 113.140|
|52 Week Range||96.800 - 117.900|
|PE Ratio (TTM)||14.17|
|Earnings Date||Nov 7, 2018 - Nov 12, 2018|
|Forward Dividend & Yield||1.68 (1.54%)|
|1y Target Est||119.03|
NFL veteran Martellus Bennett says the NFL was always just a distraction from his true passion: animation.
Comcast’s winning bid, valued at $38.8 billion, was up 40.1% above its initial bid of £12.50 a share in February and Fox’s initial £10.75-a-share bid in December 2016. Comcast’s stock fell 7.5% to $35.06, bringing its decline so far this year to 12%. The media tug of war over Sky was part of a broader scramble by media companies to fortify themselves against a rising threat from Silicon Valley streaming media giants such as Netflix Inc.
In the fiscal year to the end of June, Sky had revenue of £13.59 billion and a pretax profit of £864 million. Comcast is an American cable juggernaut that owns NBCUniversal as well as the Xfinity cable and telecommunications service. Fox is an American TV and entertainment group that owns a 39% stake in Sky.
Here are some of the companies with shares expected to trade actively in Monday’s session. Comcast Corp.—Down 3.4% premarket: The U.S. cable giant topped 21st Century Fox Inc. in the monthslong takeover battle for European pay-TV giant Sky PLC with a $38.
Shares of Comcast Corp. are down 3.4% in premarket trading Monday after MoffettNathanson analyst Craig Moffett downgraded the stock to neutral from buy in the wake of Comcast's winning bid for British television company Sky over Walt Disney Co. . "The concept of the 'winner's curse' is central to auction theory," he wrote. "By the very nature of an auction, the so-called 'winner' of an auction is the party willing to pay more for an asset than any other party believes it is worth." Moffett worries that Sky "will be an albatross" for Comcast, and he worries about Sky's core business. "Comcast would like to have investors view Sky as a platform-agnostic collection of proprietary programming agreements that can serve as a springboard to create a global [over-the-top] provider, and, to be fair, the company does indeed have many proprietary programming agreements," he wrote. "But it seems as though they would like investors to forget that it is also a satellite TV provider, and satellite video distribution is increasingly becoming obsolete." Oppenheimer analyst Timothy Horan downgraded the stock to perform from outperform, writing of the company's "relatively high new pro forma valuation and expected increased competitive pressures from new technologies-fixed/mobile wireless and OTT video/compression" Comcast shares are down 0.5% over the past 12 months, while the S&P 500 has gained 17%.
Shares of Walt Disney Co. are up 1% in premarket trading Monday after the company lost out to Comcast Corp. in a bidding war for British television company Sky. Bernstein analyst Todd Juenger wrote that Disney "dodge[d] a bullet" and achieved "the best possible result" by missing out on a Sky acquisition. "We never understood why Disney would want to operate a European [direct broadcast satellite] business, and we never understood how Sky would contribute to Disney's DTC strategy," wrote Juenger, who has a market perform rating on the stock and a $113 price target. B. Riley analyst Barton Crockett also found the result "helpful" for Disney. "We had worried that if Disney/Fox ended up running Sky, Disney would enter a competitive European pay TV business that was removed from its core content/theme park wheelhouse," he wrote. Crockett rates the stock at neutral and has a $121 price target. Disney shares are up 12% over the past 12 months, while the S&P 500 has gained 17%.
shares slumped lower Monday after the biggest U.S. cable group topped rivals Walt Disney Co. but may struggle to convince shareholders to cash-in on the near $40 billion offer. Comcast bid £17.28 per Sky share in the third and ultimate round of bidding of a rare two-day auction conducted by the U.K. takeover panel in London, a figure that values Sky at more than £30.2 billion ($39.5 billion).
At least one analyst believes that Netflix's recent share weakness is an opportunity and lays out a compelling case for growth.
Disney (DIS) says that its ESPN+ streaming service, which was launched in April 2018, has reached one million paying subscribers. This milestone boosts Disney’s hopes as it plans to launch its own much-awaited streaming service next year. Disney has said it will pull its content from Netflix (NFLX).