Tag Archives: CBS

6 Most Important Things in Business Today

Many investors believe the price of oil will go higher. According to Reuters:

Oil futures prices have soared past three-year highs, OPECs deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel this year.

But physical markets for oil shipments tell a different story. Spot crude prices are at their steepest discounts to futures prices in years due to weak demand from refiners in China and a backlog of cargoes in Europe. Sellers are struggling to find buyers for West African, Russian and Kazakh cargoes, while pipeline bottlenecks trap supply in west Texas and Canada.

CBS Corp. (NYSE: CBS) sued its largest shareholder as the pressure on it to merge with Viacom Inc. (NYSE: VIAB) increases. According to The Wall Street Journal:

CBS Corp. moved to break free from the Redstone familys grip and thwart what it fears would be a forced merger with Viacom Inc. escalating a yearslong power struggle over the fate of the two media giants.

CBS filed a lawsuit Monday against the Redstones and their family holding company and invoked a little-known provision in the CBS corporate charter that it claims would allow it to issue voting shares to all stockholders, significantly diluting the voting power that the Redstones have held over CBS for nearly two decades.

After several accidents, Tesla Inc. (NASDAQ: TSLA) looked at changing its autopilot technology. According to The Wall Street Journal:

One idea was sensors to track drivers eyes to ensure they watch the road. Tesla executives questioned the costs of such a system, which typically includes a camera and infrared sensor, and whether it would be ready for deployment, these people said. Another concern was whether the sensors could reliably detect drivers of varying heights.

Another measure the Autopilot team considered was incorporating sensors into the steering wheel to monitor whether drivers hands were touching it at all times, these people said.

Founder Elon Musk may change Tesla’s management structure. According to Bloomberg:

The Tesla Inc. management ranks that Elon Musk told employees hes flattening had already been raising eyebrows by how quickly it was thinning out.

Musk announced a thorough reorganization in a memo to employees Monday, saying Tesla was changing its structure to improve communication, combine functions and get rid of activities that arent vital to the success of the companys mission. Last week, a spokesman confirmed one of only four executive officers named in the companys recent proxy statement was taking time away from the company to recharge.

New taxes set by Seattle could affect a number of local companies, which include Amazon.com Inc. (NASDAQ: AMZN). According to CNBC:

Seattle’s city council on Monday approved a new tax for the city’s biggest companies, including
Amazon, to combat a housing crisis attributed in part to a local economic boom that has driven up real estate costs at the expense of the working class.

Amazon, the city’s largest employer, said after the vote that it would go ahead with planning for a major downtown office building that it earlier had put on hold over its objections to a much stiffer tax plan originally proposed.

Sears Holdings Corp. (NASDAQ: SHLD) took more steps to sell Kenmore. According to CNNMoney:

Sears is getting serious about selling Kenmore.

The struggling retailer announced Monday that it had formed a “special committee” to explore the sale of its in-house appliance brand.

The move comes less than a month after Sears CEO Eddie Lampert wrote a letter to the board urging it to sell the brand. He offered to buy it himself if necessary, along with other assets.

Top Analyst Upgrades and Downgrades: AGCO, American Water Works, Carbonite, Cheniere, Comcast, North

Stocks were up on Monday but in Tuesday’s premarket were soft and looking for direction ahead of the president’s decision on the Iran nuke deal. The trend of endless buying the dips has not worked well lately, and many investors are wondering whether the best has been seen for 2018. Now investors have to consider how they want their investments positioned for the longer term.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy and others cover stocks to sell or avoid.

Additional color and commentary have been added on most of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Tuesday, May 8, 2018.

AGCO Corp. (NYSE: AGCO) was maintained as Buy butremoved from the Conviction Buy list at Goldman Sachs.

American Water Works Co. Inc. (NYSE: AWK) was reiterated as Buy and with a $105 price target (versus an $84.80 prior close) at Argus. The independent research firm sees strong upside for water utilities.

Carbonite Inc. (NASDAQ: CARB) was reiterated as Outperform and the price target was raised to $35 from $30 at Oppenheimer.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) was maintained as Buy but the price target was cut to $44 from $45 at Stifel.

CBS Corp. (NYSE: CBS) was reiterated as Buy with a $79 price target (versus a $52.42 close) at Argus. The firm was very positive about its individual prospects but was still very concerned about a possible re-merger with Viacom.

Cheniere Energy Inc. (NYSEARCA: LNG) was reiterated as Buy and the price objective was raised to $69 from $63 (versus a $62.49 close) at Merrill Lynch. After a strong LNG marketing aspect, the firm ramped up expectations on excess volumes through 2020.

Comcast Corp. (NASDAQ: CMCSA) was downgraded to Neutral from Overweight at Atlantic Equities.

Extra Space Storage Inc. (NYSE: EXR) was raised to Buy from Neutral at Merrill Lynch.

ALSO READ: Jefferies Analysts Out With Top Stock Picks Before Global Tech Conference

Goodyear Tire & Rubber Co. (NYSE: GT) was reiterated as Buy with a $36 price target (versus a $25.16 close) at Argus. The firm noted that the recent sell-off offers an attractive entry point.

Harris Corp. (NYSE: HRS) already was rated as Buy at Goldman Sachs, but now the defense contractor has been added to the firm’s prized Conviction Buy List, with a $195 price target (versus a $149.88 close).

Leidos Holdings Inc. (NYSE: LDOS) was maintained as Buy butremoved from the Conviction Buy list at Goldman Sachs.

Northrop Grumman Corp. (NYSE: NOC) already was rated as Buy at Goldman Sachs, but now the defense contractor has been added to the prized Conviction Buy List, with a $410 price target (versus a $317.13 close).

Pinnacle West Capital Corp. (NYSE: PNW) was raised to Outperform from Neutral and the price target was raised to $87 from $85 at Credit Suisse.

Salesforce.com Inc. (NYSE: CRM) was reiterated as Outperform and the price target was raised to $140 from $125 at JMP Securities.

Viavi Solutions Inc. (NASDAQ: VIAV) was raised to Buy from Hold with a $15 price target (versus a $9.92 close) at Argus. The firm sees accelerating growth prospects around the coming 5G expansion.

Monday’s top analyst calls includedAutoZone, Basic Energy Services, Discover Financial, McDonald’s, Lending Tree, Shake Shack and many more.

Follow @Jonogg on Twitter to receive the daily analyst calls and other market research calls directly on your feed.

Top Analyst Upgrades and Downgrades: AGCO, American Water Works, Carbonite, Cheniere, Comcast, North

Stocks were up on Monday but in Tuesday’s premarket were soft and looking for direction ahead of the president’s decision on the Iran nuke deal. The trend of endless buying the dips has not worked well lately, and many investors are wondering whether the best has been seen for 2018. Now investors have to consider how they want their investments positioned for the longer term.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy and others cover stocks to sell or avoid.

Additional color and commentary have been added on most of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Tuesday, May 8, 2018.

AGCO Corp. (NYSE: AGCO) was maintained as Buy butremoved from the Conviction Buy list at Goldman Sachs.

American Water Works Co. Inc. (NYSE: AWK) was reiterated as Buy and with a $105 price target (versus an $84.80 prior close) at Argus. The independent research firm sees strong upside for water utilities.

Carbonite Inc. (NASDAQ: CARB) was reiterated as Outperform and the price target was raised to $35 from $30 at Oppenheimer.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) was maintained as Buy but the price target was cut to $44 from $45 at Stifel.

CBS Corp. (NYSE: CBS) was reiterated as Buy with a $79 price target (versus a $52.42 close) at Argus. The firm was very positive about its individual prospects but was still very concerned about a possible re-merger with Viacom.

Cheniere Energy Inc. (NYSEARCA: LNG) was reiterated as Buy and the price objective was raised to $69 from $63 (versus a $62.49 close) at Merrill Lynch. After a strong LNG marketing aspect, the firm ramped up expectations on excess volumes through 2020.

Comcast Corp. (NASDAQ: CMCSA) was downgraded to Neutral from Overweight at Atlantic Equities.

Extra Space Storage Inc. (NYSE: EXR) was raised to Buy from Neutral at Merrill Lynch.

ALSO READ: Jefferies Analysts Out With Top Stock Picks Before Global Tech Conference

Goodyear Tire & Rubber Co. (NYSE: GT) was reiterated as Buy with a $36 price target (versus a $25.16 close) at Argus. The firm noted that the recent sell-off offers an attractive entry point.

Harris Corp. (NYSE: HRS) already was rated as Buy at Goldman Sachs, but now the defense contractor has been added to the firm’s prized Conviction Buy List, with a $195 price target (versus a $149.88 close).

Leidos Holdings Inc. (NYSE: LDOS) was maintained as Buy butremoved from the Conviction Buy list at Goldman Sachs.

Northrop Grumman Corp. (NYSE: NOC) already was rated as Buy at Goldman Sachs, but now the defense contractor has been added to the prized Conviction Buy List, with a $410 price target (versus a $317.13 close).

Pinnacle West Capital Corp. (NYSE: PNW) was raised to Outperform from Neutral and the price target was raised to $87 from $85 at Credit Suisse.

Salesforce.com Inc. (NYSE: CRM) was reiterated as Outperform and the price target was raised to $140 from $125 at JMP Securities.

Viavi Solutions Inc. (NASDAQ: VIAV) was raised to Buy from Hold with a $15 price target (versus a $9.92 close) at Argus. The firm sees accelerating growth prospects around the coming 5G expansion.

Monday’s top analyst calls includedAutoZone, Basic Energy Services, Discover Financial, McDonald’s, Lending Tree, Shake Shack and many more.

Follow @Jonogg on Twitter to receive the daily analyst calls and other market research calls directly on your feed.

10 Stocks To Watch For May 4, 2018

Some of the stocks that may grab investor focus today are:

Wall Street expects Celgene Corporation (NASDAQ: CELG) to report quarterly earnings at $1.96 per share on revenue of $3.46 billion before the opening bell. Celgene shares rose 1.87 percent to $87.00 in after-hours trading.
Weight Watchers International, Inc. (NYSE: WTW) reported stronger-than-expected results for its first quarter. The company also raised its FY18 earnings outlook from $2.40-$2.70 to $3-$3.20. Weight Watchers shares gained 7.36 percent to $74.83 in the after-hours trading session.
Analysts are expecting Alibaba Group Holding Limited (NYSE: BABA) to have earned $0.88 per share on revenue of $9.27 billion in the latest quarter. Alibaba will release earnings before the markets open. Alibaba shares fell 0.68 percent to $181.21 in after-hours trading.
GoPro Inc (NASDAQ: GPRO) reported better-than-expected results for its first quarter on Thursday. GoPro shares fell 1.41 percent to $4.89 in the after-hours trading session.
Before the markets open, American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) is projected to report quarterly earnings at $0.81 per share on revenue of $1.75 billion. American Axle shares gained 1.05 percent to $14.50 in after-hours trading.

Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

Shake Shack Inc (NYSE: SHAK) reported upbeat results for its first quarter and raised its FY18 guidance. Shake Shack shares climbed 10.63 percent to $52.45 in the after-hours trading session.
Analysts expect Aon plc (NYSE: AON) to report quarterly earnings at $2.8 per share on revenue of $2.93 billion before the opening bell. Aon shares gained 1.42 percent to $141.99 in after-hours trading.
Fluor Corporation (NYSE: FLR) reported downbeat earnings for its first quarter and lowered its profit outlook for the year. Fluor shares dropped 13.38 percent to $51.10 in the after-hours trading session.
Before the opening bell, V.F. Corporation (NYSE: VFC) is expected to report quarterly earnings at $0.65 per share on revenue of $2.90 billion. V.F. Corporation shares declined 1.52 percent to close at $78.46 on Thursday.
CBS Corporation (NYSE: CBS) reported better-than-expected earnings for its first quarter. CBS shares rose 2.17 percent to $49.80 in the after-hours trading session.

Best Low Price Stocks To Invest In 2016

CBS CEO: Streaming “very important” to our future Last year CBS CEO Les Moonves was bullish about his company’s talks with Apple about a possible game-changer in TV.

“Apple TV is trying to change the universe a little bit,” he said last May.

“Apple is having conversations with everyone about doing their own streaming services,” he said last October.

But Moonves now says those talks have ceased, at least for the time being.

“We had conversations awhile back, and we haven’t had recent conversations with them,” Moonves told CNNMoney in an interview last week.

The prospect of a Netflix-like streaming TV service from Apple (AAPL, Tech30) is distinct from the existing Apple TV box, which connects big-screen TVs to a wide variety of services.

Best Low Price Stocks To Invest In 2016: Wendy’s/Arby’s Group Inc.(WEN)

The Wendy’s Company operates as a quick-service hamburger company in the United States. The company, through its subsidiary, Wendy’s International, Inc., operates as a franchisor of the Wendy’s restaurant system. As of December 26, 2011, the Wendy’s system comprised approximately 6,500 franchise and company restaurants in the United States and the United States territories, as well as in 26 other countries worldwide. The company was formerly known as Wendy’s/Arby’s Group, Inc. and changed its name to The Wendy’s Company in July 2011. The Wendy’s Company was founded in 1884 and is headquartered in Dublin, Ohio.

Advisors’ Opinion:

  • [By Monica Gerson]

    Analysts expect Wendys Co (NASDAQ: WEN) to report its quarterly earnings at $0.06 per share on revenue of $352.08 million. Wendys shares rose 1.79 percent to $11.38 in after-hours trading.

  • [By Monica Gerson]

    Wendys Co (NASDAQ: WEN) is expected to report its quarterly earnings at $0.06 per share on revenue of $352.08 million.

    Canadian Solar Inc. (NASDAQ: CSIQ) is estimated to report its quarterly earnings at $0.14 per share on revenue of $663.74 million.

Best Low Price Stocks To Invest In 2016: Encana Corporation(ECA)

Encana Corporation and its subsidiaries engage in the exploration for, development, production, and marketing of natural gas, oil, and natural gas liquids. The company owns interests in resource plays that primarily include the Greater Sierra, Cutbank Ridge, Bighorn, and Coalbed Methane resource plays located in British Columbia and Alberta, as well as the Deep Panuke natural gas project offshore Nova Scotia in Canada. It also holds interests in resource plays comprising the Jonah in southwest Wyoming, Piceance in northwest Colorado, Haynesville in Louisiana, and Texas resource play, including east Texas and north Texas. The company serves primarily local distribution companies, industrials, energy marketing companies, and other producers. Encana Corporation was founded in 1971 and is headquartered in Calgary, Canada.

Advisors’ Opinion:

  • [By Ben Levisohn]

    Productivity analysis favors stock picking framework of shale scale + the next rung down. We continue to maintain our Buy ratings on several shale productivity winners such asEOG Resources (CL),Diamondback Energy (CL),PDC Energy (CL),Pioneer Natural Resources and RSP Permian, while increased visibility in a path towards oil price recovery has heightened our confidence in next rung down stocks such as Hess (HES) (CL), Anadarko Petroleum (APC), Encana (ECA), Carrizo Oil & Gas (CRZO) and Whiting Petroleum (WLL). While our well results analysis supports our thesis on these shale scale winners, we note that a number of these higher beta stocks also screened particularly well, further bolstering our view on these equities.

  • [By Ben Levisohn]

    Barclays analyst Thomas Driscoll and team see more dividend cuts and equity raises coming for oil & gas stocks like Apache (APA), Devon Energy (DVN),Encana (ECA), Anadarko Petroleum (APC), and Marathon Oil (MRO). They explain why:

Best India Companies To Buy For 2016: ONEOK Partners L.P.(OKS)

ONEOK Partners, L.P. engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company?s Natural Gas Gathering and Processing segment gathers and processes natural gas produced from crude oil and natural gas wells located in the Mid-Continent region; and gathers natural gas in the Williston Basin, which spans portions of Montana and North Dakota, and the Powder River Basin of Wyoming. Its Natural Gas Pipelines segment primarily owns and operates regulated natural gas transmission pipelines, natural gas storage facilities, and natural gas gathering systems for non-processed gas. It also provides interstate natural gas transportation and storage services. This segment?s interstate natural gas pipeline assets transport natural gas through FERC-regulated interstate natural gas pipelines in North Dakota, Minnesota, Wisconsin, Illinois, Indiana, Kentucky, Tennessee, Oklahoma, Texas, and New Mexico. In addition, it transports intra state natural gas through its assets in Oklahoma; and owns underground natural gas storage facilities in Oklahoma, Kansas, and Texas. Its Natural Gas Liquids segment gathers, fractionates, and treats natural gas liquids (NGLs), as well as stores NGL products primarily in Oklahoma, Kansas, and Texas. This segment owns FERC-regulated natural gas liquids gathering and distribution pipelines in Oklahoma, Kansas, Texas, Wyoming, and Colorado; terminal and storage facilities in Missouri, Nebraska, Iowa, and Illinois; and FERC-regulated natural gas liquids distribution and refined petroleum products pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana that connect its Mid-Continent assets with Midwest markets, including Chicago, Illinois. ONEOK Partners GP serves as the general partner of the company. The company was formerly known as Northern Border Partners, L.P. and changed its name to ONEOK Partners, L.P. in May 2006. The company was founded in 1993 and is base d in Tulsa, Oklahoma.

Advisors’ Opinion:

  • [By Garrett Cook]

    Citi maintains Buy ratings on Targa Resources (NYSE: TRGP), ONEOK (NYSE: OKE) and Oneok Partners (NYSE: OKS) citing the companies stories around natural gas liquids (NGLs).