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Discovery, Inc. (DISCK)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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32.75-0.33 (-1.00%)
As of 11:44AM EDT. Market open.
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Previous Close33.08
Open33.13
Bid33.06 x 900
Ask33.06 x 2200
Day's Range32.54 - 33.62
52 Week Range16.80 - 66.70
Volume3,943,721
Avg. Volume10,037,363
Market Cap17.229B
Beta (5Y Monthly)1.45
PE Ratio (TTM)23.08
EPS (TTM)1.42
Earnings DateNov 05, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est37.33
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Credit Suisse Sells $2 Billion of Archegos-Linked Stocks
    Bloomberg

    Credit Suisse Sells $2 Billion of Archegos-Linked Stocks

    (Bloomberg) -- Credit Suisse Group AG unloaded about $2 billion of stocks tied to the Archegos Capital Management blowup in the second such block sale since the bank wrote down the bulk of its exposure in the first quarter.The stock offerings included Discovery Inc. and Iqiyi Inc., adding to some $2.3 billion worth of shares tied to the debacle that the bank sold last week, according to people familiar with the matter. The trades follow a torrent of similar transactions that had already erased about $194 billion in market value as banks from New York to Zurich and Tokyo unwound leveraged equity bets by Bill Hwang’s family office.Shares of Credit Suisse fell as the sale adds to evidence that the Archegos collapse could impact the bank beyond the first quarter, when it took a 4.4 billion franc ($4.8 billion) writedown, its worst trading hit in more than a decade. While the Swiss bank has substantially reduced its exposure, transactions since the end of March weren’t included in the first-quarter results, a person familiar with the matter has said.Credit Suisse fell as much as 2.2% in early Zurich trading and was 1.2% lower by 9:43 a.m. The stock has lost 15% this year, compared with double-digit gains for an index that includes its European peers.A spokesperson for Credit Suisse declined to comment on the sale and whether the bank plans more such transactions.Hwang’s private investment firm became the center of one of the biggest margin calls of all time late last month, and represented one of the most spectacular failures of risk-management and oversight in recent memory. The downfall of Archegos will result in $10 billion of losses to banks, according to analysts at JPMorgan Chase & Co. The debacle could attract regulatory scrutiny and potential fines for the banks involved, the analysts said this week.Read more: Archegos Ripples Through Banks’ Lucrative Hedge Fund BusinessTuesday’s block trades -- which sold at the lower end of ranges -- included 19 million Class A shares of Discovery sold at $38.40, said one of the people, asking not to be identified discussing a private matter. In addition, 22 million Class C shares of Discovery sold at $32.35 while a stake of 35 million Iqiyi shares went for $15.85.Credit Suisse’s latest sale comes weeks after several rivals dumped their shares to skirt losses. While the firm was one of several global investment banks to facilitate the leveraged bets of Archegos, it was slower than others to unwind the positions and had initially tried to reach some sort of standstill agreement, people familiar with the matter have said.The strategy failed as rivals rushed to cut their losses. Global banks including Goldman Sachs Group Inc. and Deutsche Bank AG have told investors that they shed their Archegos-linked positions with little financial impact.Credit Suisse is now planning a sweeping overhaul of its hedge fund business. It has already announced plans to cut its dividend, suspend share buybacks and scrap bonuses for top executives.(Updates with Credit Suisse shares from third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Credit Suisse offers big blocks of Discovery, iQIYI shares related to Archegos: sources
    Reuters

    Credit Suisse offers big blocks of Discovery, iQIYI shares related to Archegos: sources

    Credit Suisse has not yet finished unwinding its Archegos positions, said one source familiar with the matter. The bank has taken a $4.7 billion hit from dealings with Archegos Capital, prompting it to overhaul the leadership of its investment bank and risk divisions. Shares in Discovery and IQIYI fell in U.S. afterhours trading after news the offers, which were pitched below the stocks' closing prices.

  • Rattled Archegos Stocks Investable Again After $194 Billion Blow
    Bloomberg

    Rattled Archegos Stocks Investable Again After $194 Billion Blow

    (Bloomberg) -- The stocks that were hammered as collateral damage in the liquidation of Archegos Capital Management are seeing a silver lining from their slump: they’re becoming investable again.Companies including U.S. media conglomerates ViacomCBS Inc. and Discovery Inc., as well as apparel retailer Farfetch Ltd. saw a total of about $194 billion in market value erased as banks from New York to Zurich to Tokyo unwound leveraged equity bets by Archegos.At first, the forced selling in such a specific group of shares raised fears of potential undisclosed issues with the stocks, fueling even more losses. With that scenario now discarded, and with the dust from the Archegos blowup settling, analysts are saying investors should look at some of these names again.“Usually these dislocations where you get forced selling for non-fundamental reasons work out to be very good buying opportunities,” said Greg Taylor, chief investment officer at Toronto-based Purpose Investments. “The counter to that is having to figure out how much of the runup was due to the buying that shouldn’t have been there either. So you have balance that both out.”Read more: Block-Trade Bevy Wipes $35 Billion Off Stock Values in a DayTake ViacomCBS for example.Until late in March, the company was among the top performing stocks in the benchmark S&P 500 Index, alongside Discovery, boosted in part by optimism over its streaming strategy but also thanks to a massive play by Bill Hwang’s Archegos. The fund at one point amassed $10 billion worth of ViacomCBS shares and colossal positions in a few other companies.Read more: Bill Hwang Was a $20 Billion Whale, Then Lost It All in Two DaysSince Archegos’ blowup and after a 52% drop in ViacomCBS’s stock over the course of a week -- which in turn brought its valuation down by over 50% from a peak on March 22 -- at least six research firms have raised their ratings on the company, according to data compiled by Bloomberg.At Wolfe Research, analyst John Janedis said in a note that ViacomCBS shares are now a buy opportunity as the media company’s valuation appeared attractive after its selloff. He also pointed to its streaming business as a potential tailwind.A similar view is also behind Deustche Bank analyst Bryan Kraft‘s decision this week to raise Discovery’s 12-month forecast to $60 from $35. The company’s improved growth outlook warrants a higher valuation, he noted. Farfetch also got a “buy” recommendation from JPMorgan analyst Doug Anmuth on Thursday, who said the stock delivers a “compelling buying opportunity.”No BargainsWhile the stocks caught at the center of the Archegos crisis are definitely hurting, they aren’t exactly cheap. Their average price-to-earnings ratio -- a measure which indicates how expensive a company is -- is in line with the 10-year median, which signals how high valuations had gotten before the selloff. Aside from ViacomCBS, Discovery and Farfetch, Chinese companies like GSX Techedu Inc., Tencent Music Entertainment Group, Baidu Inc., VipShop Holdings Ltd. and IQiyi Inc. were also caught in the crosshairs of Archegos.Determining whether the selloff has turned a once-overvalued stock into a good buy will require some digging, said Barry Schwartz, chief investment officer at Baskin Wealth Management.“If you’ve studied the company and you understand the business and you see this price drop as overdone, then take that opportunity to buy their shares,” Schwartz said by phone. “If you haven’t done your homework and you’re thinking this is another GameStop situation, you’re going to be the sucker at the table.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.