Zions Bancorporation (ZION) Q3 2020 Earnings Call Transcript
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Cadence Design Systems Inc (CDNS) Q3 2020 Earnings Call Transcript
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Breakingviews - SK Hynix’s $9 bln deal is chip sector’s quick fix
HONG KONG (Reuters Breakingviews) - SK Hynix's chip deal is just what the sector needs right now. South Korea's semiconductor giant will buy Intel's NAND memory business for $9 billion - its largest acquisition ever. Less competition migh
Asian Markets Mostly Lower
(RTTNews) - Asian stock markets are mostly lower on Tuesday following the overnight losses on Wall Street amid concerns whether lawmakers in Washington will reach an agreement on a new stimulus bill before the November 3 U.S. presidential election. Investor sentiment was further
Origin Energy Warns On Unrealistic Gas Price Expectations; Reaffirms FY21 Outlook
(RTTNews) - Origin Energy Limited (ORG.AX, OGFGF.PK) said it continues to caution against arbitrary or unrealistic gas price expectations, noting the cost of domestic gas must reflect the lifecycle cost of production, and that gas producers should be able to earn a return on the
Indian Shares Seen Lower On Weak Global Cues
(RTTNews) - Indian shares may open lower on Tuesday, mirroring weak global cues on doubts over a pre-election U.S. stimulus deal. The downside, however, may remain capped by earnings optimism after ACC and Britannia Industries posted encouraging earnings results for the September
Halliburton (HAL) Q3 2020 Earnings Call Transcript
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Thai Stock Market Expected To Extend Losing Streak
(RTTNews) - The Thai stock market has finished lower in four straight sessions, plummeting more than 65 points or 5.3 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,210-point plateau and it's likely to move lower again Tuesday due to the ongoing
Logitech Q2 Results Top View; Lifts FY21 Outlook
(RTTNews) - Logitech International (LOGI) reported that its net income for the second quarter of fiscal year 2021 increased to $266.91 million or $1.56 per share from $72.93 million or $0.43 per share in the prior year. Quarterly non-GAAP earnings per share grew 274 percent to $1
Indonesia Stock Market Called Lower On Tuesday
(RTTNews) - The Indonesia stock market on Monday snapped the two-day slide in which it had fallen almost 75 points or 1.5 percent. The Jakarta Composite Index now sits just above the 5,125-point plateau although it figures to see renewed selling pressure again on Tuesday.The glob
Japanese Market Modestly Lower
(RTTNews) - The Japanese stock market is modestly lower on Tuesday following the overnight losses on Wall Street amid concerns about whether lawmakers in Washington will reach an agreement on a new stimulus bill. Surging coronavirus cases in the U.S. and Europe also weighed on th
SK Hynix To Buy Intel NAND Memory Business For $9 Bln
(RTTNews) - South Korea's SK Hynix said that it agreed to buy Intel corp.'s (INTC) NAND memory and storage business for US$9 billion.The deal includes the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China. Intel w
Australian Market Declines
(RTTNews) - The Australian stock market is declining on Tuesday following the overnight losses on Wall Street amid concerns about whether lawmakers in Washington will reach an agreement on a new stimulus bill. The rising number of coronavirus cases in the U.S. and Europe also dam
ServisFirst Bancshares Inc (SFBS) Q3 2020 Earnings Call Transcript
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Hong Kong Shares Predicted To Open Under Pressure
(RTTNews) - The Hong Kong stock market has moved higher in two straight sessions, surging almost 385 points or 1.6 percent along the way. The Hang Seng Index now rests just above the 24,540-point plateau although investors figure to cash in on Tuesday.The global forecast for the
BMW Q3 Preliminary Free Cash Flow For Automotive Segment Surges
(RTTNews) - German luxury car maker BMW AG (BMW.L, BAMXF.PK, BAMXY.PK) reported that its preliminary free cash flow for the Automotive segment for the third quarter 2020 surged to 3.065 billion euros, from last year's 714 million euros, due to a faster recovery in several markets
China Stock Market May Take Further Damage On Tuesday
(RTTNews) - The China stock market headed south again on Monday, one session after it had ended the two-day losing streak in which it had retreated almost 30 points or 1 percent. The Shanghai Composite Index now sits just above the 3,310-point plateau and the losses may accelerat
DraftKings: 3 Positive Takeaways From the Turner Partnership
After charging off the starting line and posting huge market gains in 2020, recent events have put a halt to DraftKings’s (DKNG) spectacular debut as a publicly traded company.
A recent share dilution, reports of new coronavirus infections in the NFL and in college football and this week’s lockup expiration (i.e. the end of the period when early investors and insiders are not allowed to sell shares into the market) – have all played their part in the stock declining by 30% since early October’s highs.
But it has not all been bad news. Last week DraftKings announced it had inked a new deal with Warner Media's Turner Sports. Specifically, DraftKings will get the exclusive rights to provide fantasy sports content and sports betting on select television broadcasts of Turner Sports and Bleacher Report.
It is on this side of the equation that Rosenblatt analyst Bernie McTernan believes investors should focus on. McTernan counts 3 reasons why the deal is a positive catalyst.
For one, the analyst believes “Bleacher Report is an underrated sports media asset.” It is currently second only to ESPN in Instagram and Twitter followers and is the 22nd most used sports app in the iOS app store.
Secondly, Turner “has strategic sports rights.” The analyst explained, "While the deal excludes NBA content given their existing partnership with FanDuel, Turner owns a portion of the rights for NCAA tournament games through 2032 and the MLB which Turner recently renewed through 2028."
Lastly, media companies’ increasing acceptance of sports betting should “help grow market adoption and potentially legislation.” For example, TNT recently used TNT Bets in a simulcast of the NBA's Western Conference Finals playoff coverage, incorporating betting odds and analysis in its live stream.
Now, following DraftKings’ latest announcement, the 5-star analyst notes, “All major sports media companies have a sports betting partnership.”
Overall, there’s no change to McTernan’s rating which stays a Buy, while the $65 price target stays put, too. Investors could be pocketing gains of 46%, should his thesis play out over the coming months. (To watch McTernan’s track record, click here)
DraftKings has decent support from the rest of the Street. The stock has a Moderate Buy consensus rating based on 12 Buys and 6 Holds. The forecast is for 28% upside in the year ahead, given the average price target clocks in at $57.35. (See DraftKings stock analysis on TipRanks)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Taiwan Stock Market Tipped To Head South Again On Tuesday
(RTTNews) - The Taiwan stock market on Monday ended the four-day losing streak in which it had lost more than 200 points or 1.7 percent. The Taiwan Stock Exchange now rests just above the 12,900-point plateau although it's expected to move firmly lower again on Tuesday.The global
AMC to Start Reopening Movie Theaters in New York on Friday
AMC Entertainment (NYSE: AMC) will turn the lights back on at a host of its cinemas located in New York state. The largest movie theater operator in the world said the reopenings would occur this Friday, Oct. 23, in line with a state government order.All told, 12 AMC theaters wil
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