CMCSA - Comcast Corporation

NasdaqGS - NasdaqGS Real-time price. Currency in USD
-1.49 (-3.62%)
As of 1:08PM EST. Market open.
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Previous close41.05
Bid39.39 x 900
Ask39.40 x 900
Day's range38.97 - 40.63
52-week range37.89 - 47.74
Avg. volume21,145,732
Market cap180.141B
Beta (5Y monthly)0.99
PE ratio (TTM)13.98
EPS (TTM)2.83
Earnings date22 Apr 2020 - 26 Apr 2020
Forward dividend & yield0.92 (2.18%)
Ex-dividend date30 Mar 2020
1y target est51.34
  • Comcast Stock Falls 3%

    Comcast Stock Falls 3% - Comcast (NASDAQ:CMCSA) Stock fell by 3.12% to trade at $39.72 by 09:55 (14:55 GMT) on Friday on the NASDAQ exchange.

  • Business Wire

    Comcast to Participate in Deutsche Bank Investor Conference

    On Monday, March 9, 2020, Jeremy Darroch, Group Chief Executive of Sky (Nasdaq: CMCSA), will participate in Deutsche Bank’s 28th Annual Media, Internet & Telecom Conference in Palm Beach, Florida.

  • Trump Seeks United Coronavirus Front After Days of Mixed Signals

    Trump Seeks United Coronavirus Front After Days of Mixed Signals

    (Bloomberg) -- President Donald Trump is seeking to close ranks within his administration about the threat posed by the coronavirus and how the U.S. government plans to stop its spread, following mixed messages that rattled Wall Street and sparked an uproar in Washington.Flanked by both politically appointed and career public health officials, Trump addressed the nation Wednesday evening from the White House briefing room for only the second time in his presidency. Together, they said that while a broader outbreak in the U.S. is possible, the risk to average Americans is low.Investors anxious about the spread of the coronavirus from its origins in China have driven five consecutive days of losses in U.S. markets, erasing the benchmark S&P 500 index’s gains for the year. They have sought assurances that the Trump administration is prepared to confront a public health crisis that threatens the stability of the world’s largest economy as well as the president’s own political future.“There’s a chance it could get worse. There’s a chance it could get fairly, substantially worse,” Trump said. “But nothing’s inevitable.”He faced a difficult balance in the 56-minute news conference, seeking to persuade the public that the government is prepared for an outbreak without inducing further panic that the virus will sicken and kill scores of Americans. He named Vice President Mike Pence to lead the government’s preparations and said that only one of 15 patients identified in the U.S. so far remains hospitalized.But underscoring the risks to the public and to Trump’s presidency, the Centers for Disease Control and Prevention announced shortly after the news conference concluded that it could not link one California patient to an existing foreign outbreak. That raises the possibility that the virus is already circulating within the country, what public health officials call “community spread.” Stocks in Asia and U.S. equity futures dropped after the announcement.Trump was informed of the new case before the press conference and the CDC announcement, and was told that it was apparently not linked to other outbreaks, according to people familiar with the matter. But because he didn’t yet have the full details, he made only a passing reference at the press briefing.The circumstances surrounding the case of that 15th patient weren’t discussed in a planning meeting in the Cabinet Room before the press briefing with top aides and officials, including Steve Biegun, Joe Grogan, Kellyanne Conway, Chris Liddell and others, the people said.During the press conference, Trump dismissed conspiracies promulgated by allies including radio host Rush Limbaugh, who suggested earlier in the day that CDC officials had sought to hurt Trump politically by publicly warning that the virus is likely to spread in the U.S.“They’ve been working really well,” Trump said. “They’re professional. I think they’re beyond that. They want this to go away. They want to do it with as little disruption.”The global coronavirus outbreak poses a major challenge for Trump, whose political future may hinge in part on whether his administration can keep the illness contained. The coronavirus has the potential to cause an economic slowdown, which could undercut the president’s core argument to voters.Markets dropped for the fifth consecutive day over virus-related fears. Wednesday’s fall came one day after a CDC official warned that a pandemic in the U.S. is virtually guaranteed, a message that contradicted the rosy picture Trump has painted about the virus.The Trump administration has often struggled to put forward a unified message, fully staff its agencies, and give the public accurate information -- all critical tasks for a government seeking to prevent a pandemic.Unlike past presidents, Trump hasn’t been a unifying figure in times of national crisis, and the spread of coronavirus has proven to be no different.The president on Wednesday lashed out at Senate Minority Leader Chuck Schumer, for criticizing the size of the White House’s $2.5 billion spending request to combat the virus. Schumer has offered an $8.5 billion plan of his own.Trump also attacked House Speaker Nancy Pelosi, who had called his request “anemic,” as “incompetent” and predicted she was not interested in protecting the country. Pelosi said in a statement on Wednesday night that the administration has “mounted an opaque and chaotic response to this outbreak,” adding that that the House “will be advancing a strong, strategic funding package.”Trump used some humor during the press conference, referring to his reputation as a germaphobe while giving Americans routine hygiene tips.“I had a man come up to me a week ago, I hadn’t seen him in a long time and I said ‘how you doing?’ He hugs me. I said ‘are you well?’ He says ‘No, I have the worse fever in the world.’ And he’s hugging me. I said excuse me,” Trump said, and then demonstrated how he washed his hands after the encounter.Coronavirus became a flashpoint in Tuesday night’s Democratic presidential debates, providing the candidates a chance to lay into Trump’s response rather than attack one another. Senator Bernie Sanders mocked the president’s claim the virus would subside in two months -- an assertion not backed up by public health officials.“In the White House today, we have a self-described great genius. Self-described. And this great genius has told us that this coronavirus is going to end in two months,” Sanders said. “April is the magical day that this great scientist we have in the White House has determined, I wish I was kidding, that is what he said.”By Wednesday, the negative market reaction and growing public anxiety about the disease had finally appeared to rattle the president. He lashed out at the news media hours before the news conference, accusing outlets of “panicking markets.”Roughly 55% of Americans believe there will be a widespread outbreak of the coronavirus in the U.S., according to a Kaiser Family Foundation health tracking poll released Tuesday but taken before the market downturn. The World Health Organization reporting on Tuesday that there are now more than 80,000 infections worldwide.Almost 70% believe the U.S. government is “doing enough” to combat the virus, though there is a split along party lines. Eighty percent of Republicans believe the response has been sufficient compared to 60% of Democrats.\--With assistance from Jennifer Jacobs.To contact the reporter on this story: Jordan Fabian in Washington at jfabian6@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at, Joshua Gallu, John HarneyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Disney's Next $180 Billion Won't Come Easy

    (Bloomberg Opinion) -- The streaming wars. The weaker box-office lineup. The economic trepidation. The coronavirus. All of that is taking Walt Disney Co. on a roller-coaster ride this year, and it makes sense that Bob Iger would rather watch from the safety of the ground than be strapped in the front seat. He’s earned it. Iger, who has been CEO of Disney since 2005, startled investors on Tuesday with his abrupt decision to step down, a move that wasn’t expected to happen until the end of next year. As soon as the subject line of the email from Disney appeared in my inbox at 4:06 pm on Tuesday, a cascade of negative thoughts raced through my mind: Is Iger sick? Is another Hollywood MeToo moment about to unfold? Was the company at risk of losing yet another successor candidate whose patience was tested by Iger’s continuously postponed retirement? The email went on to say that Iger is staying on only as chairman for his remaining 22 months, while Bob Chapek has stepped into the more hands-on and culpable role of CEO. Oh, to be a fly on the wall during those boardroom discussions, the only people who know why exactly the succession plans were sped up.But as the shock from the announcement subsides, and as financial markets remain in tumult, Iger’s unspoken logic behind the move — or at least part of it — makes more sense. Disney has a difficult year ahead, and the stock-market rout adds to the pressure. Why should Iger’s legacy be marked by such a tense final chapter? “It’s the right time to transition to a new CEO,” he said Tuesday, and maybe it really was. Iger signaled that in his remaining time at Disney, he’ll have a more amorphous role that involves working on the creative side to make sure he leaves it in top shape. But strategically, he’s done what he set out to, assembling what he thinks are the right collection of assets, and handing them off to Chapek.Iger, though himself a controversial CEO pick at the time, ended up reigniting Disney’s imagination and sense of magic, restoring a 97-year-old company to its heyday — better, even — accomplishing it all with his reputation for integrity intact. Disney’s market value increased by some $180 billion during his tenure, beating peers and the broader market. His acquisitions of Pixar, Marvel and Lucasfilm were a trifecta of genius, bringing more beloved characters into the Disney universe, elevating the company’s movie-making business, expanding its fan base and setting it up for later success in the streaming-TV era. Iger also expanded Disney’s theme parks and amplified their experience of being transported into a world of childlike wonderment through years of careful investment, capped by the 2016 opening of Shanghai Disney Resort and last year’s opening of the “Star Wars”-themed Galaxy’s Edge. Also last year, Disney delivered the highest-grossing film of all time, Marvel’s “Avengers: Endgame.”But just as I wrote then, as “Endgame” headed for a record $2.8 billion in global ticket sales and after his string of successes, Iger would have a hard time outdoing himself. Disney’s scheduled box-office releases for 2020 have much less of a wow factor than last year’s, with “Avatar 2” pushed back to December 2021 and the next “Star Wars” film not coming until 2022. Then there’s the coronavirus. Disney, with its parks, cruise ships, hotels and movie business, will undoubtedly feel some painful effects of the potential pandemic. The Shanghai park, which Iger saw as the capstone project of his career, has already been closed for a month because of the flu-like virus. Earlier on Tuesday, the Centers for Disease Control and Prevention warned Americans to prepare for possible closings of schools, sports arenas and other germ factories, calling it a matter of when, not if, the outbreak spreads in the country.Chapek, the new CEO, is a longtime Disney executive who has been running the company’s parks and resorts since 2015, and before that the consumer-products and home-video businesses. In his first Bloomberg Television appearance as Disney chief, he said he wasn’t ready to talk about how the coronavirus might affect Disney, but assured investors that “we’ll come back better and stronger than ever.” “Back” implies it’s going somewhere. And down is where the stock went Wednesday, bringing this year’s losses to 12%.As it is, the company’s investments in Disney+, its new streaming-TV service, are weighing on earnings. The launch of Disney+ went better than anyone expected, and it had 26.5 million subscribers as of December. But now comes the hard part: Comcast Corp.’s NBCUniversal will introduce its Peacock app in April, followed by AT&T Inc.’s spruced-up HBO Max in May. Apple TV+ could also pose a threat should Tim Cook decide to plow more money into the service. The early signups for Disney+ were easy wins. Keeping them will be harder and expensive, and those efforts will continue to disrupt the rest of the Disney empire. Iger could see his retirement date “out of the corner of my eye,” he wrote in a memoir, titled “The Ride of a Lifetime,” published in September. “It surfaces at unexpected times. It’s not enough to distract me, but it is enough to remind me that this ride is coming to an end.” In fact, the ride is about to get pretty wild. Maybe he saw that coming, too.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Comcast's (CMCSA) Initiatives to Boost Ad Sales in 2020

    Comcast's (CMCSA) Initiatives to Boost Ad Sales in 2020

    Comcast Corporation's (CMCSA) One Platform ad tech and sales strategy for NBCUniversal and acquisition of Xumo ad-supported free streaming service are expected to boost ad revenues in the near term.

  • Comcast acquires free streaming service Xumo

    Comcast acquires free streaming service Xumo

    Comcast has acquired Xumo, a free, ad-supported streaming service with more than 190 channels. The service has a complicated ownership history — it began in 2011 as a joint venture between Panasonic and Myspace parent company Viant, which was acquired by Time Inc. in 2016, and then Time Inc. was later acquired by Meredith. The companies are not disclosing the financial terms of the deal, which The Wall Street Journal previously reported was in the works.

  • Comcast (CMCSA) Up 0.4% Since Last Earnings Report: Can It Continue?

    Comcast (CMCSA) Up 0.4% Since Last Earnings Report: Can It Continue?

    Comcast (CMCSA) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • 'Hard no': NFL players balk at 17-game regular season
    Yahoo Finance

    'Hard no': NFL players balk at 17-game regular season

    NFL team owners on Thursday voted to approve a new collective bargaining agreement, but the players are unlikely to vote yes in its current form.

  • Business Wire

    Comcast Corporation Promotes Jennifer Khoury to Chief Communications Officer

    Comcast Corporation today announced it has promoted Jennifer Khoury to Chief Communications Officer, succeeding D’Arcy Rudnay who, after a 16-year career at Comcast, is retiring. Effective today, Ms. Khoury will oversee the company’s comprehensive external and internal corporate communications functions for the enterprise.

  • ViacomCBS’s Parts Might Add Up to a Greater Whole

    ViacomCBS’s Parts Might Add Up to a Greater Whole

    (Bloomberg Opinion) -- “House of Brands” probably wasn’t the best choice of words by ViacomCBS Inc. in describing its streaming-TV strategy. It’s best for a company in its position to avoid what sounds eerily similar to another phrase — one that implies a shaky structure doomed to collapse. It’s also best not to remind people of the name of a hit series created by Netflix Inc., the very symbol of the end of times for cable networks like those owned by ViacomCBS. But the company may be on to something. Its house — er, collection — of TV and film brands were slapped together, just like its name, through the December merger of Viacom and CBS. Together, they have the potential to constitute an attractive streaming-TV offering for consumers different from existing ones. That means there’s at least hope for ViacomCBS, and that’s truly all investors and employees could reasonably expect right now. On Thursday, ViacomCBS posted unflattering results for its first quarter as a unified company, and its shares plunged 18%. It’s a reflection of the difficulty of stitching together two businesses with much different cultures — a challenge for any chief executive officer, but one that’s exacerbated in this case by the historical tensions between the two sides and the industry streaming wars that have threatened to make both of them irrelevant. Analysts predicted at least $7 billion of revenue for the period ended Dec. 31, but ViacomCBS took in only $6.87 billion amid a drop in traditional TV viewers, lower political advertising spending and a weak box-office showing. The merger closed on Dec. 5.But there were slivers of good news. Among them was the company’s announcement that it’s creating a new subscription-video service that will expand on the $6-a-month CBS All Access app ($10 for the commercial-free version) by stuffing it with more content from other parts of the empire. The company referred to it as a “House of Brands” product, the idea being that it can bring together its various entertainment, news, sports and film properties to reach a wider audience. The company’s biggest assets are CBS, MTV, Nickelodeon, BET, Comedy Central, Paramount Pictures and Showtime. It also owns Pluto TV, the advertising-supported service for consumers who want to stream for free, while Showtime targets the higher-end of the market with an $11-a-month online subscription.The strategy sounds a bit like the approach Comcast Corp.’s NBCUniversal is taking with its Peacock product, which is set to launch in April. Peacock will have a diverse library — everything from “Parks and Recreation” to “Jurassic Park” plus new shows — that most people will be able to access for free, with the option of paying $10 a month to cut out the ads. In contrast, Disney+, the fast-growing streaming service from Walt Disney Co., has more narrow appeal as it’s predominantly geared toward children and Marvel and “Star Wars” superfans; it has also shunned advertisers (for now). Peacock mimics the breadth of Netflix, whereas Disney+ looks more like a niche add-on option for Netflixers. A tremendous challenge for all the media giants, but especially ViacomCBS, is deciding where to put their content. ViacomCBS needs to continue to nourish its cable networks, the biggest moneymakers, while choosing which titles to save for CBS All Access to drive subscriber growth and which to sell to rival streaming services that are willing to pay for them. For example, the Paramount division previously produced the popular — and controversial — series “13 Reasons Why” for Netflix, a show that could have also appealed to MTV’s audience and potentially would have been a good fit for the expansion of CBS All Access. In that sense, it’s as if the different units within ViacomCBS are competing with one another. For once, though, Viacom and CBS are working under one clear leader, which is probably the biggest positive development following years of infighting and drama at both entities, both controlled by the Redstone family. Bob Bakish, Viacom’s well-liked, hard-nosed CEO of the last three years, is now in charge of the merged company, while Joe Ianniello, who had been Leslie Moonves’s No. 2 at CBS, is leaving next month. Moonves was ousted in September 2018 after a slew of sexual-harassment allegations came to light, ultimately paving the way for the merger of CBS and Viacom. Ianniello, though instrumental in getting the deal done — if only for the outrageous pay package used to placate him — was a symbol of the old regime and a possible wrench in Bakish’s salvage plan.Bakish has a lot of work to do, and fast. But his idea isn’t a bad one.  To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Business Wire

    Willamette Valley Bank Invests in Innovation with Comcast Business

    Willamette Valley Bank Invests in Innovation with Comcast Business

  • Business Wire

    Comcast to Participate in Morgan Stanley Investor Conference

    On Tuesday, March 3, 2020, Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation (Nasdaq: CMCSA), will participate in Morgan Stanley’s 2020 Technology, Media & Telecom Conference in San Francisco, California.

  • The Zacks Analyst Blog Highlights: Mastercard, Comcast, Honeywell International, QUALCOMM and Dominion Energy

    The Zacks Analyst Blog Highlights: Mastercard, Comcast, Honeywell International, QUALCOMM and Dominion Energy

    The Zacks Analyst Blog Highlights: Mastercard, Comcast, Honeywell International, QUALCOMM and Dominion Energy

  • Earnings Season Scorecard and Analyst Reports for Mastercard, Comcast & Others

    Earnings Season Scorecard and Analyst Reports for Mastercard, Comcast & Others

    Earnings Season Scorecard and Analyst Reports for Mastercard, Comcast & Others

  • Business Wire

    Xfinity Mobile to Offer New Samsung Galaxy S20+ 5G and Galaxy S20 Ultra 5G Devices

    Comcast today announced that Xfinity Mobile will carry the new highly anticipated Samsung Galaxy S20+ 5G and Galaxy S20 Ultra 5G.

  • Just Say No to TV Soccer Piracy in Saudi Arabia

    Just Say No to TV Soccer Piracy in Saudi Arabia

    (Bloomberg Opinion) -- When professional sport has to choose between money and ethics, there’s usually only one winner.Amnesty International has dubbed it sportswashing: the practice of exploiting athletic events or investments to whitewash dubious human rights or criminal records. The group counts Russia’s hosting of the 2018 World Cup soccer tournament and 2014 Winter Olympics as examples, as well as Abu Dhabi’s ownership of City Football Group Ltd., the parent company of Manchester City Football Club. But England’s Premier League now has an opportunity to make a stand that could satisfy both financial and ethical imperatives.You see, Saudi Arabia’s sovereign wealth fund was reported last month to be in advanced talks to acquire Newcastle United Football Club for a reported 340 million pounds ($440 million). But at the same time, a company broadcasting in the kingdom is one of the biggest pirates of television programming in the world, not least of top soccer games.Is the Premier League likely to make a stand on Saudi Arabia’s human rights record, whether it be the alleged torture and assassination of political opponents, the persecution of LGBT communities or airstrikes in Yemen? It’s certainly hard to imagine. After all, the U.K. exports almost $3 billion of goods a year to Saudi Arabia. Why, the Premier League might ask, should it balk on principle when plenty of other industries sell their products there?That’s where the piracy comes in. When it comes to broadcasting, perhaps the biggest thorn in professional soccer’s side is a firm called BeoutQ. According to Qatari broadcaster BeIN Media, which holds the Premier League rights in the Middle East, the mysterious company takes its feed, superimposes its logo and then broadcasts it all through Arabsat, a Riyadh-based satellite network. So BeIN becomes Beout, geddit? Presumably the Q stands for Qatar — no-one said trolling had to be funny. (Arabsat, more than a third owned by Saudi, has denied broadcasting BeoutQ; and the head of the Saudi soccer federation has said the government isn’t involved in any piracy.)The transgressions might seem like another manifestation of the ongoing tensions between Saudi Arabia and neighboring Qatar — BeIN Media hasn’t been able to broadcast into Saudi Arabia since 2018. But it’s also costing the Premier League and a slew of others money. BeoutQ also pirates content from the British Broadcasting Corp. and Comcast Corp.’s Sky. Indeed, when BeIN decided not to renew its $30 million-a-year contract with Liberty Media Corp.’s Formula One competition last year, it cited the losses it was enduring from BeoutQ’s piracy.BeIN’s existing Premier League deal is worth $140 million a season, according to sports-rights publication Sportcal, equivalent to about 10% of the league’s overseas income. That would be a big hit for the Premier League were it to decide not to renew the deal because of the piracy. Which makes the Saudi interest in Newcastle United, a club which has fallen on harder times under the ownership of retail billionaire Mike Ashley, an important bargaining chip.Earlier efforts to tackle the problem have failed. The Premier League, alongside world governing body FIFA, European governing body UEFA, Spain’s La Liga, Italy’s Serie A and Germany’s Bundesliga, strongly condemned the intellectual property theft last year, noting they had failed to find a single law firm in Saudi Arabia willing to pursue the matter through available legal channels. They called on Saudi authorities to do something fast, given that the piracy remained rampant. To own a football team in the U.K., you have to pass the Owners’ and Directors’ Test, formerly known as the fit-and-proper person test. Its disqualifying conditions include any conviction for “dishonestly receiving a programme broadcast from within the U.K.” That might provide a little wiggle room for the Saudis to pass the test, but if the Premier League and the Football Association, soccer’s governing body in the U.K., have any gumption whatsoever, they should absolutely give it a shot. There are hundreds of millions of pounds of income at stake.Saudi Arabia may, in a sense, just be following archrival Qatar’s lead. Qatar’s own sovereign wealth fund acquired French team Paris Saint-Germain back in 2011, and the nation is set to host the World Cup in 2022. Indeed, BeIN CEO Nasser Al-Khelaifi is also the CEO of Paris Saint-Germain and is a member of the UEFA executive committee.Plenty of others have readily accepted lucrative contracts with Saudi investors and venues — boxer Anthony Joshua enjoyed a reported $70 million payday for his December fight with Andy Ruiz, dubbed Clash on the Dunes; the mythic Dakar Rally off-track motor race roared across the kingdom’s deserts in January for its first Middle East edition;  Spanish soccer’s Super Cup also took place in Saudi Arabia this season; and World Wrestling Entertainment Inc. has a 10-year deal to host events there.Any move from the Premier League might stop short of demonstrating a strong and principled backbone. But the franchise does have the opportunity and the financial motive to extract some concessions from Saudi Arabia.To contact the author of this story: Alex Webb at awebb25@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • ViacomCBS to Launch a New Streaming Service

    ViacomCBS to Launch a New Streaming Service

    After Viacom and CBS merged late last year in an all-stock deal, the new media corporation ViacomCBS (VIAC) is working on a new streaming service.

  • Business Wire

    Comcast Announces Redemption of $1.005 Billion of 4.45% Senior Notes due March 2047

    Comcast Corporation (Nasdaq: CMCSA) announced today it has elected to exercise its option to redeem on March 15, 2020 (to be paid on March 16, 2020) all $1.005 billion principal amount outstanding of its 4.45% Senior Notes due March 15, 2047 (ISIN No. XS1569497107) at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus any accrued and unpaid interest to, but not including, the redemption date. The Notes are traded on the Taipei Exchange. The Bank of New York Mellon Trust Company, N.A. is the trustee for the Notes.

  • France's Richest Man Gets a Free Lunch From the ECB

    France's Richest Man Gets a Free Lunch From the ECB

    (Bloomberg Opinion) -- Bernard Arnault, the boss of LVMH Moet Hennessy Louis Vuitton SE, exceeded even his own incredibly low yield expectations in his company’s giant bond sale this week — which included the biggest corporate issue in euros since 2016. The luxury giant raised 7.5 billion euros ($8.3 billion) and 1.55 billion pounds ($2 billion), over a range of maturities from two to 11 years, to help finance its $16 billion purchase of Tiffany & Co.Two of the five euro tranches were placed at negative yields, meaning investors are paying single A-rated LVMH to borrow money. Arnault’s expectations back in November for yields from the sale of “between 0% and 1%” have been surpassed. Even the 11-year tranche has a coupon of just 0.45%. M&A has never been cheaper.France’s richest man can thank the European Central Bank for this state of affairs. The restart of its 189 billion-euro Corporate Sector Purchasing Program has driven credit spreads ever lower. While the central bank wants to lessen the funding costs of European companies — and local subsidiaries of global firms — to make it easier for them to invest, it may not have been meaning to help a French luxury behemoth snap up an American jewelry icon. It’s almost certain that a bond of this size will have been bought by the ECB (or will be picked at some point in the near future). Often the bank takes up to 20% of eligible issues, and there has a been a real paucity of high-quality credit since the Quantitative Easing program kicked back into life.There was another jumbo corporate sale in Europe this week by U.S. Media giant Comcast Corp., which issued notes worth 3 billion euros and 1.4 billion pounds. This type of sale is known as a “reverse Yankee,” where an American company issues debt, but not in dollars. Maybe we could refer to LVMH’s use of dirt cheap funding in its home currency to buy an American company as a “reverse, reverse Yankee.” The world of finance is ever flexible.International Business Machines Corp. also pulled off a bumper bond deal in Europe earlier in the week; the euro credit market is truly open for business. Although January was a record month for issuance, it was dominated by financials and sovereign, supranational and agency (SSA) issuers. Credit spreads have now also moved close to their tightest ever levels, amid the general flight-to-quality sparked by the Coronavirus outbreak. It’s just a shame that most of these jumbo deals are being used to refinance existing operations more cheaply — rather than spurring an investment boom, or local European mergers and acquisitions that would help the continent’s moribund corporate environment. Still, the ECB is doing what it can; if the financing heads over the Atlantic sometimes, that’s the price you pay for the ocean of quantitative easing that’s been made available. No wonder corporates everywhere are filling their boots.To contact the author of this story: Marcus Ashworth at mashworth4@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. He spent three decades in the banking industry, most recently as chief markets strategist at Haitong Securities in London.For more articles like this, please visit us at now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Business Wire

    Comcast California Adds Two New Executives to Its Senior Leadership Team

    Comcast California has named two new vice presidents to its senior leadership team. The appointments include Sonya Echols, Vice President of Human Resources and Mike Burnett, Vice President of Technical Operations.

  • Media Stock Earnings Lineup for Feb 6: NWSA, WWE, LGF.A

    Media Stock Earnings Lineup for Feb 6: NWSA, WWE, LGF.A

    Here we take a sneak peek into quarterly earnings expectations of three media stocks scheduled to report on Feb 6.

  • Business Wire

    Andre Iguodala Joins Comcast Ventures’ Catalyst Fund

    Comcast Ventures, the venture capital affiliate of Comcast Corporation, today announced Andre Iguodala has joined its Catalyst Fund as a Venture Partner.

  • Business Wire

    Comcast Celebrates the Year of the Rat With Continued Sponsorship of San Francisco’s Chinese New Year Festival & Parade

    On Saturday, February 8, 2020 Comcast’s California Region will be a Procession-level sponsor of the 2020 Chinese New Year Festival & Parade, continuing its partnership with the San Francisco Chinese Chamber of Commerce for a second year.

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