23.36 -0.09 (-0.38%)
Pre-Market: 9:07AM EST
|Bid||23.45 x 2200|
|Ask||23.54 x 2900|
|Day's Range||22.53 - 23.47|
|52 Week Range||20.93 - 33.35|
|Beta (3Y Monthly)||1.36|
|PE Ratio (TTM)||5.78|
|Earnings Date||Nov 14, 2019|
|Forward Dividend & Yield||0.80 (3.41%)|
|1y Target Est||29.27|
CBS Corp. reported Tuesday third-quarter profit that topped expectations but revenue that came up shy, as strength in sales of its entertainment business was offset by misses in cable networks, local media and publishing. The media company said net income fell to $319 million, or 85 cents a share, from $488 million, or $1.29 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to 95 cents, above the FactSet consensus of 91 cents. Revenue fell 1.0% to $3.30 billion, below the FactSet consensus of $3.36 billion. Entertainment revenue rose 4.4% to $2.29 billion to beat the FactSet consensus of $2.28 billion; cable networks sales rose 6.4% to $563 million but was below expectations of $572.5 million; local media sales fell 6.5% to $406 million to miss expectations of $417.6 million; and publishing revenue dropped 9.6% to $217 million, below expectations of $242.5 million. The company is in the process of merging with Viacom Inc. , with CBS continuing as the surviving company to be named ViacomCBS Inc. CBS's stock, which rose 0.3% in premarket trading, has tumbled 18.4% over the past three months, while the S&P 500 has gained 7.1%.
The leadership changes will go into effect when the deal closes, which is expected by early December.
Viacom (VIAB) fourth-quarter fiscal 2019 results are expected to benefit from a turnaround in Paramount, a strong content slate of Nickelodeon and growth in domestic ad sales.
Tencent's (TCEHY) third-quarter 2019 results are likely to reflect gaming portfolio strength, improving social networks revenues and momentum in cloud services.
Vipshop Holdings' (VIPS) third-quarter 2019 results are likely to reflect the effect of seasonality with slight improvement in the top line.
CBS (NYSE: CBS.A, CBS) and Viacom (NASDAQ: VIAB, VIA) today announced senior appointments for ViacomCBS’ content and digital leadership. The combined company’s library will comprise 140,000+ premium TV episodes and 3,600+ film titles, including fan favorites such as Star Trek and Mission: Impossible. ViacomCBS will also have more than 750 series ordered or in production, as well as a major Hollywood film studio, Paramount Pictures.
Buy CBS below its monthly pivot at $39.35, then add to positions on weakness to its weekly value level at $34.09. The stock is too cheap to ignore, both fundamentally and technically.
CBS and Viacom confirm a series of senior management changes ahead of the closing in December of their $30 billion merger.
British fashion photographer, model casting agent and publisher Campbell Addy is sitting on a sofa in his flat in Hoxton, east London. “Three years ago, I was just happy to be here, so when I’d get asked questions about being a black photographer, I was like, ‘yes yes yes!’. Addy has become successful just as the conversation around race and diversity in the fashion industry has intensified — yet it’s hardly surprising that he wants to return the conversation to his work.
“TYLER PERRY’S BRUH” AND “TYLER PERRY’S RUTHLESS” ARE WRITTEN, DIRECTED, AND EXECUTIVE PRODUCED BY TYLER PERRY
Asure Software's (ASUR) third-quarter 2019 results are expected to reflect strong momentum in recurring revenues, expanded clientele and cross-selling opportunities.
Viacom (VIAB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The November to January period historically offers the strongest stock market returns, and these stocks may be poised to ride that seasonal pattern.
PAW Patrol’s ‘mighty pups are ready to go, go, go’ and spread the word about the importance of taking steps to ensure kids’ safety through PAW Patrol Safety First!, a brand-new prosocial campaign created by Nickelodeon in participation with safety partner Safe Kids Worldwide. Launching today, the multiyear program will focus on water safety, fire safety and road safety.
The "Terminator" franchise likely won't be back after the lackluster start of its latest installment, "Dark Fate," over the weekend. The sixth film in the series — although it's pitched as a direct sequel to the original "Terminator" and "T2" — grossed an estimated $29 million at the domestic box office, which is not much better than the $27 million launch of "Terminator Genisys" in 2015. "Dark Fate" had been tracking in the $30 million to $40 million range.
The New York Times Company (NYT) has been coping with soft print advertising revenues due to increasing online readership, a trend that is likely to have continued in the third quarter.
CBS (NYSE: CBS.A, CBS) and Viacom (NASDAQ: VIAB, VIA) today announced senior leadership appointments across ViacomCBS’ revenue lines. The appointments, effective upon closing of the deal to combine CBS and Viacom, will enable ViacomCBS to drive strong, multifaceted opportunities with distributors, advertisers and other partners. “These appointments mark an important step in the integration of CBS and Viacom,” said Bob Bakish, President and Chief Executive Officer, Viacom, who will serve as President and Chief Executive Officer of ViacomCBS upon close.
CBS and Viacom have cleared a couple of key hurdles in their $30 billion merger, enabling them to move up the timeline for re-combining their businesses.
CBS Corporation (NYSE: CBS.A, CBS) and Viacom Inc. (NASDAQ: VIAB, VIA) today announced that the registration statement on Form S-4 (No. 333‑234238) (the “Registration Statement”) filed by CBS with the U.S. Securities and Exchange Commission (the “SEC”) was declared effective by the SEC on October 25, 2019. The Registration Statement was filed in connection with the proposed combination of CBS and Viacom (the “merger”) and includes a joint consent solicitation statement/prospectus of CBS and Viacom.
TISHA CAMPBELL & TICHINA ARNOLD RETURN AS HOSTS FOR THE 2ND YEAR
O’Rourke to Appear on October 28, with Klobuchar Appearing on October 30, and Hillary Rodham Clinton and Chelsea Clinton Appearing on October 31