|Bid||33.70 x 1400|
|Ask||33.73 x 4000|
|Day's range||32.91 - 34.14|
|52-week range||30.43 - 44.00|
|PE ratio (TTM)||6.91|
|Earnings date||26 Jul 2018|
|Forward dividend & yield||0.76 (2.24%)|
|1y target est||43.60|
Investors are waking up to the idea that the trade war between the U.S. and China could be the real deal. Boeing, which counts China as its largest market, single-handedly took 94 points off the Dow Jones Industrial Average that day. The business giants on Wednesday appointed Dr. Atul Gawande as chief executive of a yet-to-be-named company tasked with tackling rising employee health-care costs.
It’s the “Jurassic Park” franchise’s turn this weekend, one week after a stunning opening weekend from Disney’s(DIS) “Incredibles 2.” Universal Pictures’ “Jurassic World: Fallen Kingdom” earned $15.3 million in previews after its release on Thursday night, and is tracking to take a large bite out of the domestic box office. Analysts are estimating an opening weekend gross of $130 million to $140 million—a substantial amount, though not as large as that of its predecessor “Jurassic World,” which opened to $209 million in 2015.
Fitch Ratings placed The Walt Disney Co.'s (dis) senior unsecured A rating on review for a possible downgrade on Friday, citing the material increase in leverage that Disney's revised bid for assets of 21st Century Fox Inc. (foxa) would create. The move further "incorporates a degree of uncertainty related to the final terms of the transaction due to the potential for a competing offer from Comcast Corp. (cmcsa)" said the agency. Fitch estimates that the new terms will increase Disney's leverage to about 4.0 times, assuming it succeeds in closing the Fox deal, and Fox succeeds in closing its bid for the 61% of Sky Plc (uk:sky) it does not already own.
In what amounts to "opposite day" (or something like that), Incredibles 2 opened in China yesterday/today (time zone magic) on Jurassic World: Fallen Kingdom's second Friday of release in what is now the biggest moviegoing marketplace in the world. Jurassic World: Fallen Kingdom has done so well overseas (if it hasn't crossed $500 million worldwide, it will today) that Universal/Comcast Corp. almost doesn't care about its domestic figures.
Media giant Disney (DIS) has recently made a higher bid than rival bidder Comcast (CMCSA) for most of the assets of 21st Century Fox (FOXA). Disney is now offering more than $71.3 billion for Fox’s film, television, and entertainment assets, around 36% higher than its initial bid of $52.4 billion in December. Following the announcement, Comcast shares were up 1.77% to $33.39 on June 20, while Disney closed up 0.99% to $107.15 per share.
There were days of silence when Comcast expected heavy negotiations. Weeks later, Mr. Murdoch announced a deal with rival Walt Disney Co. for $52.4 billion, nearly $12 billion less than the Comcast offer. “I don’t know what more I could do,” he told a close friend. After the holidays, he began gaming out strategies that could torpedo Disney’s Fox deal, people close to the company said, setting into motion media’s highest-stakes bidding war in years and the biggest bet of his career.
Comcast NBCUniversal today announced that it has awarded $86,000 in scholarships for the 2018-19 school year to 82 Washington students as part of its annual Leaders and Achievers® Scholarship Program.
Disney's (DIS) sweetened takeover bid for 21st Century Fox (FOXA) has soured ratings agency Moody's Investor Service on the media giant's debt. Moody's placed Disney on review for a downgrade late yesterday, citing the company's major debt load, should it be successful in buying Fox and European satellite TV provider Sky: Moody's pegs the company's debt to earnings before interest, taxes, depreciation and amortization ratio around four times if the deal closes, 3.5 times without Sky. Of course, that figure could go higher if Comcast (CMCSA) ratchets up its own $65 billion offer for Fox and Disney decides to escalate again. Moody's expects that should a ratings downgrade occur, it will be limited to one notch." Needham's Laura Martin expects that Disney will win the day, given that Fox's controlling Murdoch family will vote its 17% economic interest for the deal, which means that only 40% of remaining shareholders need to agree, where as 60% of non-Murdoch shareholders have to vote for the Comcast deal.
Britain's top share index fell on Thursday as sterling bounced from seven-month lows following a Bank of England policy vote that bolstered expectations of a rate hike in August. As widely expected, the ...
Top-20 Sky (SKYB.L) investor Crispin Odey said he expects the bidding war for the media company to carry on over the summer and that the European broadcaster could be worth as much as 50 billion pounds ($65.5 billion). The pay-TV operator is the subject of rival bids from U.S. peer Comcast Corp (CMCSA.O) and Rupert Murdoch-majority owned Twenty-First Century Fox (FOXA.O), which currently owns a 39 percent stake in Sky but wants to buy it outright. Fox's long standing 10.75 pounds per share offer was trumped by a 12.50 pound per share bid from Comcast in April, valuing Sky at $31 billion.
Top-20 Sky investor Crispin Odey said he expects the bidding war for the media company to carry on over the summer and that the European broadcaster could be worth as much as 50 billion pounds ($65.5 billion). The pay-TV operator is the subject of rival bids from U.S. peer Comcast Corp and Rupert Murdoch-majority owned Twenty-First Century Fox, which currently owns a 39 percent stake in Sky but wants to buy it outright. Fox's long standing 10.75 pounds per share offer was trumped by a 12.50 pound per share bid from Comcast in April, valuing Sky at $31 billion.
Top-20 Sky (Frankfurt: 893517 - news) investor Crispin Odey said he expects the bidding war for the media company to carry on over the summer and that the European broadcaster could be worth as much as 50 billion pounds ($65.5 billion). The pay-TV operator is the subject of rival bids from U.S. peer Comcast Corp and Rupert Murdoch-majority owned Twenty-First Century Fox, which currently owns a 39 percent stake in Sky but wants to buy it outright. Fox's long standing 10.75 pounds per share offer was trumped by a 12.50 pound per share bid from Comcast (Swiss: CMCSA.SW - news) in April, valuing Sky at $31 billion.
Britain's top share index edged up on Thursday as sterling hovered around 7-month lows ahead of a Bank of England policy meeting that is widely expected to keep interest rates unchanged. Gains in defensive ...
Shares (Berlin: DI6.BE - news) crept higher in most major markets on Thursday as a lull in the Sino (Dusseldorf: 1205802.DU - news) -U.S. trade tussle and talk of more stimulus in China helped calm nerves, though the nagging trade tensions caused Chinese shares to slip, dragging other Asian markets lower. Oil prices eased a touch as nerves grew ahead of Friday's meeting between OPEC and other big producers, including Russia, with growing expectations that the Vienna talks could result in an agreement to increase crude supplies.
The battle for control of some of the entertainment world's most prized properties has heated up, with Disney dramatically increasing its offer for the entertainment assets of 21st Century Fox. Disney raised its offer for the assets from $52.4bn to $71.3bn and also for the first time made an alternative available to Fox shareholders who would rather receive an element of cash instead of Disney shares. The move comes a week after Comcast (Swiss: CMCSA.SW - news) , the US cable giant, offered $65bn in cash for the assets, which include 20th Century Fox - the Hollywood film studio behind hits such as Avatar, X-Men and Ice Age - US cable TV networks including FX and National Geographic and international pay television assets including Star TV in India.
Walt Disney Co. raised its offer to purchase most of 21st Century Fox to more than $71.3 billion in cash and stock, topping an unsolicited offer from rival Comcast Corp. and escalating the bidding war for the coveted media properties. Disney’s new offer is far higher than its original deal, $52.4 billion in stock, and surpasses Comcast’s all-cash offer of roughly $65 billion. In addition to having the higher offer, Disney said it also has a regulatory advantage over Comcast in winning a company to help it fight back against new-media competitors like Netflix Inc.
Walt Disney Co.’s blockbuster track record, along with some unique quirks of comic book history, explain why it can top Comcast’s bid for 21st Century Fox’s entertainment assets. Disney has released the top-grossing film world-wide in six of the last seven years, according to Box Office Mojo. Analysts at MoffettNathanson estimate that Disney accounted for over half the profitability of the top five movie studios last year.
If Walt Disney is hoping that its newly juiced bid for Fox assets will crush Comcast into submission, it is likely to be disappointed. The new offer, more than $70 billion in cash and stock, represents a 9% premium over Comcast’s offer of $65 billion and a 36% premium to Disney’s original offer of $52.4 billion. There are no other media assets as desirable as those at 21st Century Fox.
Jun.21 -- Mark Patricof, founder of Patricof Co., and Bloomberg's Sonali Basak discuss recent media mergers, the dominance of Netflix and Patricof's new venture with star athletes. They speak on "Bloomberg Daybreak: Americas."