A possible boon for Fox as it navigates through unfavorable headlines: It should be less affected by the Hollywood writers strike than its peers, according to Wall Street.
and Dominion Voting Systems ado “creates headline risk but is unlikely to impact business fundamentals and is already reflected in the equity price,” Evercore ISI analysts led by Vijay Jayant wrote in a note to clients last week.
Class A shares of Fox are down 6% over the last month, shedding some $520 million and $90 million in the first trading sessions following the Carlson and Dominion announcements, respectively. Helping to mitigate the potential bottom-line effects of the recent controversy is Fox’s hefty cash pile and Fox News’ success at replicating the ratings of Carlson’s primetime predecessor Bill O’Reilly, after his own sudden and controversial ouster due to sexual misconduct allegations, Evercore noted.
Fox is likely to offer further guidance on the tax impacts and insurance coverage of its settlement with Dominion during its Tuesday morning earnings call, Jayant wrote. In an April note to clients, CFRA analyst Kenneth Lofton knocked down his 2023 and 2024 earnings estimates for Fox by about 5%, pointing to the negative publicity’s likely drag on advertising revenue.Compared to other legacy media stocks, Fox will be “relatively less impacted” by the ongoing Writers Guild of Americaaffecting most scripted programming in the U.S.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Wall Street Week Ahead: U.S. consumer price data to test feared stagflation scenario By Reuters*WALL ST. WEEK AHEAD: U.S. CONSUMER PRICE INFLATION DATA TO TEST FED PAUSE BETS $DIA $SPY $QQQ 🇺🇸🇺🇸
Weiterlesen »
Wall Street's still worried despite Friday's fakeout | CNN BusinessStocks saw a comeback on Friday after four consecutive days of declines. But there are several key signs that show the market is far from shedding its worries.
Weiterlesen »
Asia markets set for mixed open after Wall Street rebound on FridayAsian markets trade mixed after Wall Street snapped a four day losing streak on Friday
Weiterlesen »
Wall Street primary wide open as DeSantis stumblesRon DeSantis' gubernatorial reelection campaign is still loaded with cash, giving him big advantages over possible competitors. But many now say he no longer seems so formidable — at least on Wall Street.
Weiterlesen »
WSJ News Exclusive | Carbon Markets Get Boost From Wall StreetThe booming market for carbon credits could go mainstream under a plan to make it easier for financial firms to create products such as exchange-traded funds
Weiterlesen »
Washington and Wall Street brace for White House debt ceiling talksBiden is set to meet with House Speaker Kevin McCarthy and other congressional leaders Tuesday as the clock ticks on a potential government default as soon as June 1.
Weiterlesen »