The stock market finished a volatile week on the upswing Friday as virtually all media and tech issues managed to reverse their recent slides
finally announced their long-expected merger. The deal, unveiled Tuesday, is a $30 billion, all-stock transaction. The two trading days after the announcement, though, shaved about 11% off the value of both stocks.The downturn in four of the previous five sessions ended Friday with a 1% uptick in CBS and fractional gain for Viacom shares did not erase the 11% downturn since the companies merger announcement — a $3 billion hit on paper.
Two analysts offered bullish takes on ViacomCBS on Thursday and Friday to counter some of the pessimistic views on Wall Street. Jessica Reif Ehrlich of Bank of America Merrill Lynch . “While it is difficult to pinpoint the exact sources of investor concern, we remain confident in the upside case,” Ehrlich wrote in a note to clients.
Alan Gould of Loop Capital cited the combined company’s streaming assets as a key reason for his upbeat view. “We believe the average viewer will take 3-4 OTT services,” he reasoned in a research note. “Netflix and Disney will likely be the top two choices for most consumers, but we believe CBS All Access and its compelling products to be the third or fourth choice and expect Pluto to continue to grow quickly as a free service.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
LSE's FTSE stock market suffers longest outage in yearsA technical glitch delayed the start of trading on Friday on the UK blue chip FT...
Baca lebih lajut »
Four tips to help you start investing in the stock marketThe thought of investing in the stock market can be overwhelming to some people, but it can be a powerful tool to grow your money if you follow a few guidelines. Watch this video to find out the steps you should take to start investing in the stock market.
Baca lebih lajut »
What is an inverted yield curve and how does it affect the stock market?.NBCNews' AliVelshi breaks down the definition of an inverted yield curve for NBCNewsNOW and explains why an inverted yield curve is triggering a loss in the Dow Jones Industrial Average.
Baca lebih lajut »
5 things to know before the stock market opens FridayDow futures jump; bond yields rise; Ray Dalio talks recession chances; Trump urges Xi to meet Hong Kong protesters; GE shares bounce after brutal day
Baca lebih lajut »
Trump reportedly held call with major bank CEOs on Wednesday as the stock market plungedPresident Donald Trump reportedly held a call on Wednesday with the CEOs of three major U.S. banks, according to Bloomberg News.
Baca lebih lajut »
GE CEO Larry Culp bought nearly $2 million worth of the company's stock after fraud accusationEarlier, Madoff whistleblower Harry Markopolos called the conglomerate 'a bigger fraud than Enron.'
Baca lebih lajut »