Netflix Shares DIP and 4 Media Titans Making Waves
AOL, Inc. (NYSE:AOL): Today, Starboard Value decided upon a new activist investment in Office Depot, but Starboard’s highest profile fight ended as a loss, when AOL shareholders made the decision to continue following management’s future concepts.Starboard has scored various smaller victories which gets itself onto corporate boards. Since its separation from Cowen Group, Starboard has filed nine proxy fights, which is higher other investor over that period of time, according to data from FactSet SharkWatch, who adds that the investor has filed as an activist in 14 positions. The shares traded down $0.20 (0.60%) recently at $33.71.
Netflix, Inc. (NASDAQ:NFLX)shares saw a 5 percent percent drop on Monday after Macquarie gave the company an “Underperform” rating. The firm’s research analyst Tim Nollen gave the Netflix stock a $50 price target since he believes that media companies hold the upper hand. “In keeping with our positive thesis on media names like Time Warner and CBS, we believe content owners rule the roost; Netflix is a price taker in an increasingly competitive market,” he statedin the note. The shares traded down $3.36 (5.55%) recently at $57.16.
Time Warner Cable Inc. (NYSE:TWC): On Monday, the company got some ongoing bullish support from UBS analysts. The firm decided to keep its “Buy” rating on TWC stock as it raised its price target to $105, which shows a 14 percent upside to its Friday closing price, $92.38. The firm also decided to raise its earnings estimates TWC due to expectations for increased share buybacks, but the company’s shares were mostly flat in premarket trading Monday. The shares traded down $0.23 (0.25%) recently at $92.15.
Dish Network Corp. (NASDAQ:DISH): Cablevision Systems Corp.’s (NYSE:CVC) Dolan’s intend to meet Charlie Ergen and Dish Network Corp. in trial in New York’s state court, as Voom claims there was a breach of contract and is suing Dish for $2.5 billion in damages, according to the Wall Street Journal. The shares traded down $1.05 (3.18%) recently at $32.02.
News Corp. (NASDAQ:NWSA): News America Marketing, which is a division of News Corporation, announced that its online site, SmartSource.com, has been re-launched with a new look and technology. Now, the popular online coupon site offers Direct2Card capability, allowing users to apply the coupon offers onto their shopper loyalty cards, which enables them to automatically be redeemed at checkout. The shares traded down $0.15 (0.61%) recently at $24.52.
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