tl;dr
News that Disney (NYSE:DIS), Fox (NASDAQ:FOX) (FOXA), and Warner Bros. Discovery (NASDAQ:WBD) were planning a joint-venture sports streaming service -- a sort of "Hulu for sports" -- was met on Wall Street with some tempered optimism about a new approach to live sports' bumpy journey into the digita...
News that Disney (NYSE:DIS), Fox (NASDAQ:FOX) (FOXA), and Warner Bros. Discovery (NASDAQ:WBD) were planning a joint-venture sports streaming service -- a sort of "Hulu for sports" -- was met on Wall Street with some tempered optimism about a new approach to live sports' bumpy journey into the digital future.
Some solid premarket stock gains for the three media giants evaporated not too long after the open Wednesday; at midday, Disney (DIS) was down 1%, Warner Bros. Discovery (WBD) down 3.6%, and Fox (FOXA) down a full 6.3%. (Fox Wednesday morning also posted its earnings for the period ended Dec. 31.)
Street analysts saw the advantages of a new approach to battling the rising costs of sports rights but recognized that the ultimate trajectory of the service would be clearer after the revelation of more details, notably its price point.
“There are more questions than answers but this is definitely a step towards providing a compelling consumer choice to access sports," Bernstein said in reaction.
Why are the companies teaming up on such an offering now? "Cord-cutting continues to reduce the distribution and monetization of linear channels, with pay-TV down 25% since 2018," Morgan Stanley analyst Benjamin Swinburne wrote. "The sports marketplace has started to fragment outside the bundle and at an accelerating clip, in our view suggesting the time is now for industry stakeholders to be proactive."
More about Walt Disney Company
The Walt Disney Company (DIS) is a diversified multinational mass media and entertainment conglomerate with a market capitalization of $177.29 billion. The stock is currently trading at $74.92, with a 52-week range of $48.63 to $103.54. The stock has shown a positive change of 1.29% in the last trading session, and the Relative Strength Index (RSI) is at 48.63, indicating a neutral sentiment. The company's revenue stands at $88.89 billion, with a net profit margin of 0.623. The stock is currently trading at a support level, but there is a potential for a breakout if it crosses the resistance level. The market sentiment for Disney is currently neutral, with potential uncertainties in the future performance of the stock.
More about Fox Corp Class B
Fox Corp Class B is a mass media company with a market capitalization of $14.31 billion and a stock price of $29.02. The company operates in the technology and television broadcasting sectors, with a strong presence in television broadcasting stations. The stock has shown a 2.05% increase in the latest trading session, with a Relative Strength Index (RSI) of 51.5, indicating a neutral sentiment. However, the stock is currently trading below its 50-day moving average, suggesting a potential bearish trend. Investors should be cautious of potential downside risks and uncertainties in the market, as past performance is not always indicative of future results.
More about Fox Corp Class A
Fox Corporation, a mass media company focused on technology and television broadcasting stations, has reported a market capitalization of $14,729,418,000 and a current stock price of $15.42. The stock has shown a 2.05% increase in performance, with a Relative Strength Index (RSI) of 29.02, indicating a slightly oversold position. The company's market sentiment appears to be slightly bearish, with a negative change in stock price of -0.255. It's important to note that past market behavior may not be a reliable indicator of future performance, and potential risks or uncertainties should be considered before making any investment decisions.
More about Warner Bros Discovery Inc
Warner Bros Discovery Inc, a technology and cable & other pay television services company, has reported a total revenue of $24.56 billion. The stock performance shows a decrease of 1.94% with a current price of $17.26. Market sentiment appears slightly bearish with a negative trend of -0.115. The company's market capitalization stands at $42.05 billion, with a current stock price of $14.46 and a price-to-earnings ratio of 2.267. It is important to note that past market behavior is not always indicative of future performance, and potential risks or uncertainties should be considered in any investment decision.
More about Alphabet Inc Class C
Alphabet Inc. Class C is a technology company with a market capitalization of $1.79 trillion and a stock price of $25.03. The stock has shown a 5.79% increase in the last period, with a high of $24.34 and a low of $0.24. The company has a market sentiment of 307.39 billion shares outstanding and a beta of 159.7. The stock has a price-to-earnings ratio of 0.56 and a dividend yield of 0.135.
More about Alphabet Inc Class A
Alphabet Inc. Class A is a multinational conglomerate in the technology and services industry, with a market capitalization of $1.798 trillion. The stock has a current price of $24.89 with a 5.79% change. The Relative Strength Index (RSI) is at 24.34, indicating potential oversold conditions. The stock has a market sentiment of 0.24, suggesting a neutral outlook. The company's stock performance has been relatively stable, with a market value of $307.39 billion and a 160.62 earnings per share. However, there is a potential risk of a bearish trend as the RSI is low, and past performance may not accurately predict future performance.
More about Apple Inc
Apple Inc. is the world's largest technology company by revenue, with total revenue reaching $274.5 billion in 2020. As of January 2021, it is also the world's most valuable company. The company is the fourth-largest PC vendor by unit sales and the fourth-largest smartphone manufacturer. In terms of stock performance, Apple Inc. has shown a consistent upward trend, with a current stock price of $200.21, and a positive change of 0.16. The market sentiment towards Apple Inc. remains bullish, with a Relative Strength Index (RSI) of 29.39, indicating the stock is not overbought or oversold. However, there are potential risks and uncertainties associated with the company's performance, as past market behavior is not always a reliable indicator of future performance.
More about Amazon.com Inc
Amazon.com Inc is a leading multinational technology company in the e-commerce, cloud computing, digital streaming, and artificial intelligence sectors. With a market cap of $1.75 trillion and a stock price of $3.89, the company has shown strong performance in the retail-catalog & mail-order industry. The stock has demonstrated a bullish trend with a Relative Strength Index (RSI) of 55.78, indicating strong buying momentum. However, the stock is approaching its resistance level, and a breakout above this level would signal further upside potential. It's important to note that past performance is not indicative of future results, and potential risks or uncertainties should be carefully evaluated before making any investment decisions.
More about Nexstar Broadcasting Group Inc
Nexstar Media Group, Inc. is a technology company focused on television broadcasting stations with a market cap of $5.11 billion. The stock is currently trading at $198.73 with a 52-week range of $141.21 to $198.73. The stock has a relative strength index (RSI) of 14.75, indicating it may be oversold. The stock has seen a 0.904% decrease in price over the past month, suggesting a bearish trend. The company's financial data indicates a profit margin of 4.95% and an earnings per share (EPS) of 11.72. However, the stock is currently trading below its 200-day moving average, indicating a potential downtrend. Given the recent bearish trend and oversold RSI, there may be potential downside risk for the stock in the near term.
More about Sinclair Broadcast Group Inc
Sinclair Broadcast Group Inc is a diversified television media company in the United States, specializing in television broadcasting stations. With a market cap of $3.268 billion and a stock price of $8.74, the company has shown a 1.7% increase in its stock performance. The Relative Strength Index (RSI) of 49.02 indicates a neutral sentiment in the market. However, with a negative EPS of -0.926 and a negative price change of -0.09, there may be some uncertainties and risks associated with its performance. It is important to note that past market behavior is not always a reliable indicator of future performance.
More about E. W. Scripps Co Class A
EW Scripps Company (E. W. Scripps Co Class A) is a media company with a portfolio of local and national media brands, primarily focused on television broadcasting stations. The company's stock has experienced a recent decrease of 7.85%, closing at 28.08. This decline reflects a negative sentiment in the market, with a relative strength index (RSI) of -0.257. The company's market capitalization stands at 2.358 billion, with a price-to-earnings (P/E) ratio of 11.5 and a beta of 0.913. The stock's performance indicates a potential bearish trend, with risks associated with the company's future performance despite its historical market behavior.
More about Gray Television Inc
Gray Television Inc. is a television broadcasting company with a market cap of $3.49 billion and a current stock price of $12.37. The stock has shown a modest increase of 0.32% with a relative strength index of 38.24, indicating a slightly oversold position. The company's performance has been bearish, with a negative change of -0.117. This suggests that there may be potential risks associated with investing in Gray Television Inc. The company operates television stations and digital assets in the United States, and market sentiment may be influenced by the overall performance of the broadcasting industry.
More about Tegna Inc
Tegna Inc. is a media company in the United States, primarily focused on television broadcasting stations. With a market capitalization of $3,027,398,000, the stock is currently trading at $5.41 per share, with a 0.399% increase. The 52-week range for the stock is between $2.84 and $14.31, indicating potential volatility. The company's market sentiment is currently at 310,220,6000, with a relative strength index (RSI) of 19.4, suggesting the stock may be oversold. However, it's important to note the negative movement in the RSI at -0.265, and the bearish trend at -0.112, indicating potential downside risks and uncertainty in the market.
More about Fubotv Inc
Based on the financial data, Fubotv Inc. operates a live TV streaming platform for live sporting events, news, and entertainment content in the United States and Europe. The company has a market capitalization of $742.263 million with a stock price change of -1.29. The company's stock performance has seen a 5.06% increase and a -0.289 change in Relative Strength Index (RSI). The company has a trading volume of 1,277,359,000 with a moving average of 3.65. The market sentiment for Fubotv Inc. is currently at 0.426, indicating a positive outlook for the company's stock. However, it is important to note that past market behavior is not always a reliable indicator of future performance, and there are potential risks or uncertainties associated with this analysis.
More about Comcast Corp
Comcast Corp, a telecommunications conglomerate, is a major player in the broadcasting, cable television, and home internet service provider markets. With a market cap of $178.2 billion, the stock is currently trading at $12.09, with a 1.16% change and a 3.71% dividend yield. The stock has a Relative Strength Index (RSI) of 29.49, indicating potential oversold conditions. Comcast's annual revenue stands at $121.57 billion, with a price-to-earnings ratio of 50.28. The company operates in the technology and cable & other pay television services sectors. Market sentiment towards Comcast is currently mixed, with potential risks and uncertainties surrounding the stock's performance. It is important to note that past market behavior is not always a reliable indicator of future performance.
More about Charter Communications Inc
Charter Communications Inc is a telecommunications and mass media company, operating in the technology and cable & other pay television services sector. The company has a market capitalization of $54.61 billion, with a current stock price of $446.24. The stock has shown a decrease of 7.9% over the past period, with a relatively low volatility of 8.35%. Despite the recent decline, the stock has a strong support level at $365.98, suggesting a potential bullish trend. However, market sentiment remains uncertain, with potential risks of further decline in the stock price. It's important to consider the historical performance of the stock and the broader market conditions before making any investment decisions.
More about Altice USA Inc
Altice USA Inc. is a company that provides broadband communications and video services in North America. The stock has a market capitalization of $9,309,468,000 with a current price of $20.48 per share and a change of -0.05. The stock performance has shown a downward trend with a decrease of -0.0024. The Relative Strength Index (RSI) is at 4.27, indicating a bearish sentiment. The company operates in the technology and cable & other pay television services sector. It is important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with investing in Altice USA Inc.
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