Three hours into the trading day, Wells Fargo (NYSE: WFC ) is keeping its head above water, but that's about it: The superbank is up 0.35% after opening down 0.06%. Wells is underperforming its Big Four banking peers and the broader markets today, despite some good news from the New York State's Attorney General's office delivered on Saturday. What gives?
A second chance
The Seattle Times is reporting that neither Wells Fargo nor Bank of America (NYSE: BAC ) will have to face an enforcement action from Eric Schneiderman's bank-busting AG's office. This past May, Schneiderman had leveled charges against the two superbanks, claiming that both had violated a 2012 mortgage-servicing settlement designed to "fix violations and remediate harm to [home] borrowers."
According to the settlement's monitoring committee, the new oversight process for Wells and B of A "will be the most efficient path to improving services [and] will bring about those reforms more quickly than protracted litigation on these particular issues."�
Top Life Sciences Stocks To Own Right Now: Gannett Co. Inc. (GCI)
Gannett Co., Inc. operates as a media and marketing solutions company in the United States and internationally. Its Publishing segment publishes 83 U.S. daily newspapers with affiliated online sites, including USA TODAY, a national, general-interest daily newspaper; USATODAY.com; USA WEEKEND, a magazine supplement for newspapers; Clipper Magazine, a direct mail advertising magazine; bi-weekly Nursing Spectrum and NurseWeek periodicals; and military and defense newspapers. This segment also includes 17 paid-for daily newspapers; approximately 200 weekly newspapers, magazines, and trade publications; and approximately 600 non-daily publications, as well as involves in commercial printing, newswire, marketing, and data services operations. The company?s Digital segment owns and operates CareerBuilder, an employment Web site, which offers online recruitment and career advancement services for employers, employees, recruiters, and job seekers; ShopLocal, which provides multicha nnel shopping and advertising services; Planet Discover, which offers hosted search and advertising services; PointRoll, which provides digital marketing services and technology; and Schedule Star, which offers scheduling solution for high school athletic departments. Its Broadcasting segment operates 23 television stations and affiliated Web sites, which produce local programming, such as news, sports, and entertainment programming. This segment also includes Captivate Network, a national news and entertainment network that delivers programming and full-motion video advertising on video screens located in elevators of office towers and select hotel lobbies in North America. The company has strategic business relationships with online affiliates, including Classified Ventures, ShopLocal.com, Topix, and Metromix LLC, as well as strategic marketing agreement with Microsoft. Gannett Co., Inc. was founded in 1906 and is headquartered in McLean, Virginia.
Advisors' Opinion:- [By Douglas A. McIntyre]
Traditional media sites did unusually well, given that they are not the core products of their parent companies. Broadcaster CBS (NYSE: CBS) was in 9th place at 80.9 million unique visitors in November. Comcast NBCUniversal was 14th place with 64.4 million. Gannett (NASDAQ: GCI) sites were 16th at 57 million. Viacom had 54.3 million, and ESPN 38.7 million.
- [By Tiernan Ray]
FBR & Co.‘s�William Bird, who follows the shares of old media dinosaurs�Gannett (GCI), �Meredith�(MDP),�News�(NWSA), and�The New York Times�(NYT), today offers the findings of a survey of 2,041 adults in the U.S. from March 12th to March 17th.
Bird has an Outperform rating on shares of Gannett, and Market Perform ratings on the other three names.
The upshot of the survey is that a third of young readers don’t read print papers, and are more and more flocking to online news outlets.
The survey, conducted with the help of Clear Voice Research LLC, suggests to Bird a “steady structural pressure on print, a tip of the spear demographic problem for print circulation, and slow magazine tablet adoption�� negative as tablets offer a better business model for magazines.”
More specifically, there is “value destruction” as more and more people trade from print to digital editioins of publications:
The survey suggests that structural pressure on consumer newspaper readership is a touch above�that of magazines. Over the next year, print newspaper usage is expected to decline a net 5% (i.e.,�6% expect to use more versus 11% who expect to use less). A total of 11% of respondents said they plan to use print newspapers less and 10% said they plan to �use print magazines less. This was exactly offset by the percentage of respondents who said they�plan to consume online newspapers more (11%) and those who plan to consume online magazines�more (10%). With $1 of print ad spend translating to $0.25 in digital, these results are supportive of �continued print-to-digital value destruction.
Younger readers tend to be more inclined to dump print, says FBR:
According to our survey, intended print newspaper subscription cancellations total 9.8% over the next 12 months. Notable is that plans to cancel skew heavily toward the below 35 year old demographic. The 18 to 34 demographic reflects
Best Media Companies To Own In Right Now: Discovery Communications Inc(DISCA)
Discovery Communications, Inc. operates as a non fiction media and entertainment company worldwide. The company provides original and purchased programming across various distribution platforms. Its content covers science, exploration, survival, natural history, sustainability of the environment, technology, docu-series, anthropology, paleontology, history, space, archaeology, health and wellness, engineering, adventure, lifestyles, forensics, civilization, and current events. The company owns and operates nine national television networks in the United States, including Discovery Channel, TLC, Animal Planet, Science Channel, Investigation Discovery, Military Channel, Planet Green, Discovery Fit & Health, and Velocity. Discovery Communications also has interests in Oprah Winfrey Network, a pay-television network and Web site; The Hub that features original programming, game shows, and live-action series and specials; and 3net, a three-dimensional network. In addition, it o ffers network branded Web sites, and mobile and video-on-demand services; and distributes various national and pan-regional television networks. Further, the company develops and sells curriculum-based products and services to public and private K-12 schools, such as access to an online VOD service that includes curriculum-based tools, professional development services, and student assessment and publication of hardcopy curriculum-based content; and postproduction audio services to motion picture studios, independent producers, broadcast networks, cable channels, advertising agencies, and interactive producers. As of December 31, 2011, it operated approximately 150 distribution feeds in 40 languages. The company is headquartered in Silver Spring, Maryland.
Advisors' Opinion:- [By Alyce Lomax]
An hour is the amount of time Americans might allot for watching an episode of, say, Dirty Jobs in their free time. Speaking of jobs, dirty or otherwise, Discovery Communications' (NASDAQ: DISCA ) CEO David Zaslav's pay calculation came to $24,000 per hour.
Best Media Companies To Own In Right Now: CBS Corporation(CBS)
CBS Corporation, together with its subsidiaries, operates as a mass media company in the United States and internationally. The company?s Entertainment segment distributes a schedule of news and public affairs broadcasts, sports, and entertainment programming; produces, acquires, and distributes programming, including series, specials, news, and public affairs; produces and distributes theatrical motion pictures across various genres; and operates online content networks for information and entertainment. Its Cable Networks segment owns and operates multiplexed channels that offers subscription program services, including recently released theatrical feature films, original series, documentaries, boxing, mixed martial arts and other sports-related programming, and special events; and CBS College Sports Network, a 24-hour cable program service related to college sports. This segment also owns and manages Smithsonian Networks, which operates Smithsonian Channel, a basic cab le service in the United States. The company?s Publishing segment publishes and distributes adult and children?s consumer books in printed, audio, and digital formats. Its Local Broadcasting segment owns 29 broadcast television stations; owns and operates 130 radio stations in 28 U.S. markets and related online properties; and owns local Websites that combine television and radio local media brands online to provide the latest news, traffic, weather, and sports information, as well as local discounts, directories, and reviews. The company?s Outdoor segment sells advertising space on various media, including billboards, transit shelters and other street furniture, buses, rail systems, mall kiosks, stadium signage, and in retail stores. CBS Corporation was founded in 1986 and is headquartered in New York, New York.
Advisors' Opinion:- [By Rick Aristotle Munarriz]
Lloyd Bishop/NBCU Photo Bank/Getty ImagesStephen Colbert (left) practices his network performance with Jimmy Fallon. From a fallen dot-com darling scoring a rare hat trick to a discount retailer discounting its headcount, here's a rundown of the week's smartest moves and biggest blunders in the business world. CBS (CBS) -- Winner David Letterman is leaving his late-night talk show next year, and CBS allowed only a week to pass between that announcement and naming his replacement. Stephen Colbert will take over "The Late Show." It may seem like a gutsy call. Colbert's satirical skewering of political conservatives is polarizing, even if his talk show persona is unlikely to embrace the character that made him a Comedy Central late-night star. It's still an attention-grabbing announcement and one that should benefit CBS as well as its sister company and Comedy Central parent Viacom (VIA). Time Warner (TWX) -- Loser "Game of Thrones" kicked off its highly anticipated fourth season on Time Warner's (TWX) HBO on Sunday, but it wasn't just the show's power-hungry characters that were out for blood. Online users were incensed to find an outage on HBO Go preventing them from watching the premiere for several hours. HBO Go has been a major component of the premium movie channel's success in recent years, included at no additional cost with HBO subscriptions to justify the platform's high cost relative to Netflix (NFLX) and other growing streaming video services. Subscribers expect reliability when they're paying up for a premium service, and they just didn't get it. A big reason why this outage is making news -- as HBO Go subscribers had to stay off social media to avoid spoilers -- is because there was a similar disruption last month during HBO's "True Detective." Yelp (YELP) -- Winner Yelp may not be very popular with its investors, nor with some irate merchants, but it got some love from Wall Street this week. Three analyst firms -- Oppenheimer, SunTrust and
- [By Ben Levisohn]
So yes, Disney is a Buy, and DiClemente’s $90 price target suggests another 19% of upside from yesterday’s close, though it should be noted he also likes CBS (CBS), Twenty-First Century Fox (FOXA) and Discover Communications (DISCA).
Best Media Companies To Own In Right Now: Thomson Reuters Corp(TRI)
Thomson Reuters Corporation provides intelligent information for businesses and professionals worldwide. The company allows market participants to connect, access content, and trade in a secure environment through Thomson Reuters Eikon desktop, Thomson Reuters Elektron network, content integration and management technology, content feeds and databases, and transactions infrastructure solutions that support buy- and sell-side customers to trade in foreign exchange, fixed income and derivatives, equities, exchange-traded instruments, and commodities and energy markets. It also offers information, analytics, workflow, and technology solutions to buy-side and off-trading floor customers; access to liquidity in over-the-counter markets, trade execution, and connections for market participants and financial professionals? communities; and a suite of solutions offering informed outcomes to regulated industries and law firms. In addition, the company provides critical information , decision support tools, and software and services to legal, investigation, business, and government professionals; integrated tax compliance and accounting software and services for accounting and law firms, corporations, and government professionals; intellectual property and scientific resources that enable its customers to discover, develop, and deliver innovations; and data analytics, and performance benchmarking solutions and services to healthcare sector. Further, it offers coverage of global, regional, and national news in 20 languages covering politics, business, finance, entertainment, lifestyle, technology, health, science, and sports; and engages in advertising-supported direct-to-consumer publishing activities of Reuters.com and its network of Websites, mobile applications, and electronic out-of-home displays. The company was formerly known as The Thomson Corporation and changed its name to Thomson Reuters Corporation in April 2008. The company is headquartered in New York, New York.
Advisors' Opinion:- [By Monica Wolfe]
Thomson Reuters (TRI)
On Feb. 11, Thomson Reuters declared a dividend of $0.330 per share, representing 3.80% dividend yield for the company. This dividend is payable on March 17 to shareholders of the record at the close of business on Feb. 24, 2014.
- [By Jonas Elmerraji]
It's been a solid year for Thompson Reuters (TRI); since the calendar flipped over to January, this $30 billion financial media firm has rallied more than 22%. But don't worry if you've missed out on the move -- TRI looks well-positioned for higher levels thanks to the pattern that's been setting up in shares.
Thompson Reuters is currently forming an ascending triangle pattern, a bullish setup that's formed by horizontal resistance above shares at the $35.50 level and uptrending support to the downside. Basically, as TRI bounces in between those two technically-important price levels, it's getting squeezed closer and closer to a confirmed breakout above that $35.50 price level. When the breakout happens, it's time to be a buyer.
TRI closed above the $35.50 level in yesterday's session, but it's a little early to call it a breakout just yet. If shares can hold above that breakout level all through today's session, then the buy signal is worth heeding.
- [By Bill Smith]
FDS operates in a highly competitive industry, some with more resources. Their competitors include:
Thomson Reuters Corp. (TRI)BloombergInteractive (IDC)MSCI Inc. (MXB)Morningstar Inc. (MORN)Track Data Corp. (TRAC)Edgar Online (EDGR)McGraw-Hill (MHP )
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