FCC Jumps into CBS-Time Warner Cable Fray and 3 More Hot Stocks
CBS Corp. (NYSE:CBS): The Federal Communications Commission is getting involved in the Time Warner Cable (NYSE:TWC)-CBS content spat and is working to put an end to the dispute that has left 3 million Time Warner customers without CBS programming since August 2nd. Although acting chairwoman Mignon Clyburn says the FCC doesn’t have the power to intervene, the agency is attempting to act as a moderator to help the companies reach a mutually beneficial conclusion.
Ford Motor Co. (NYSE:F): Ford is preparing to debut its new S-MAX concept at the Frankfurt Motor Show in September. Currently, the S-MAX is only available in Europe, and although the new model is unlikely to be slated for U.S. markets either, the S-MAX is intended to become a more premium car meant to appeal to luxury car buyers.
PetroChina (NYSE:PTR): Shares are off somewhat sharply after it is revealed that some of the company’s top executives are under investigation by the Chinese government for corruption. Goldman Sachs says that the resignations of four top execs should not have an impact on daily operations, but notes that concerns over corporate governance likely will cause near-term share price pressure.
ConocoPhillips (NYSE:COP): The oil giant has announced that it is moving forward with its drill plans in Polish shale, though it cautioned that it was still too soon to tell if its Lebien gas discovery would be commercially viable, Upstream reports. The Lebien LE-2H well in the western Baltic Basin had recorded a flow rate of around 300,000 cubic feet per day of gas in a month of production testing.