Here are the biggest analyst calls of the day: Hewlett Packard, Nike, L Brands & more

Raymond James said in its upgrade that the company has a “strong” balance sheet and a dividend that continues to increase. “Recognizing that we do not live in a vacuum, we acknowledge that China tariffs and potential recession worries combine to frighten some to the sidelines. Accordingly, we are using our less-than- strongest rating, not for lack of conviction, but on the supposition that investors may need to be patient while the market comes to recognize LZB’s value. That said, La-Z-Boy’s bal


Raymond James said in its upgrade that the company has a “strong” balance sheet and a dividend that continues to increase. “Recognizing that we do not live in a vacuum, we acknowledge that China tariffs and potential recession worries combine to frighten some to the sidelines. Accordingly, we are using our less-than- strongest rating, not for lack of conviction, but on the supposition that investors may need to be patient while the market comes to recognize LZB’s value. That said, La-Z-Boy’s bal
Here are the biggest analyst calls of the day: Hewlett Packard, Nike, L Brands & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: michael bloom
Keywords: news, cnbc, companies, balance, vacuum, packard, analyst, value, upgrade, nike, day, dividend, worries, brands, sheet, calls, weeks, hewlett, biggest, strong, using


Here are the biggest analyst calls of the day: Hewlett Packard, Nike, L Brands & more

Raymond James said in its upgrade that the company has a “strong” balance sheet and a dividend that continues to increase.

“Recognizing that we do not live in a vacuum, we acknowledge that China tariffs and potential recession worries combine to frighten some to the sidelines. Accordingly, we are using our less-than- strongest rating, not for lack of conviction, but on the supposition that investors may need to be patient while the market comes to recognize LZB’s value. That said, La-Z-Boy’s balance sheet is strong with no funded debt and the dividend has increased each year since 2013. In addition, the host of retail earnings over the last two weeks seem to point to a healthy U.S. consumer. “


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: michael bloom
Keywords: news, cnbc, companies, balance, vacuum, packard, analyst, value, upgrade, nike, day, dividend, worries, brands, sheet, calls, weeks, hewlett, biggest, strong, using


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Cramer Remix: I’d be a buyer of VMware on weakness

VMware reported a top-and-bottom line beat in its quarterly report Thursday, but it’s stock tanked as much as 7% in after-market trading. Investors frowned on the cloud software company’s move to acquire both Carbon Black and Pivotal Software at a grand enterprise value of $4.8 billion, but CNBC’s Jim Cramer took a contrarian. “I like the cloud security space and I’m going to say buy VMware on weakness, the stock’s come down too much,” the “Mad Money” host said. As of Thursday’s market close, VM


VMware reported a top-and-bottom line beat in its quarterly report Thursday, but it’s stock tanked as much as 7% in after-market trading. Investors frowned on the cloud software company’s move to acquire both Carbon Black and Pivotal Software at a grand enterprise value of $4.8 billion, but CNBC’s Jim Cramer took a contrarian. “I like the cloud security space and I’m going to say buy VMware on weakness, the stock’s come down too much,” the “Mad Money” host said. As of Thursday’s market close, VM
Cramer Remix: I’d be a buyer of VMware on weakness Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: tyler clifford
Keywords: news, cnbc, companies, id, security, vmware, remix, space, weakness, software, virtualization, value, buyer, cloud, stocks, cramer


Cramer Remix: I'd be a buyer of VMware on weakness

VMware reported a top-and-bottom line beat in its quarterly report Thursday, but it’s stock tanked as much as 7% in after-market trading.

Investors frowned on the cloud software company’s move to acquire both Carbon Black and Pivotal Software at a grand enterprise value of $4.8 billion, but CNBC’s Jim Cramer took a contrarian.

“I like the cloud security space and I’m going to say buy VMware on weakness, the stock’s come down too much,” the “Mad Money” host said.

As of Thursday’s market close, VMware shares are nearly $60 below its all-time trading high of $206.80 from May. The information technology firm is a big player in data center virtualization, which allows multiple users to access a physical server via cloud computing.

VMware is a subsidiary of Dell Technologies.

“The company acts as a kind of consultant for businesses that are looking to migrate to the cloud. Once you make that switch, they’ll help clients make sure everything’s running smoothly and even provide security,” Cramer said. “They have a great relationship with Amazon.”

Get a deeper understanding of stocks in the cloud computing space here


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: tyler clifford
Keywords: news, cnbc, companies, id, security, vmware, remix, space, weakness, software, virtualization, value, buyer, cloud, stocks, cramer


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The CEOs of nearly 200 companies just said shareholder value is no longer their main objective

Shareholder value is no longer the main focus of some of America’s top business leaders. The Business Roundtable, a group of chief executive officers from major U.S. corporations, issued a statement Monday with a new definition of the “purpose of a corporation.” “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.” “The American dream is alive, but fraying,” said Jamie Dimon, chairman and CEO of JPMorgan Chase & Co. and chairman of


Shareholder value is no longer the main focus of some of America’s top business leaders. The Business Roundtable, a group of chief executive officers from major U.S. corporations, issued a statement Monday with a new definition of the “purpose of a corporation.” “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.” “The American dream is alive, but fraying,” said Jamie Dimon, chairman and CEO of JPMorgan Chase & Co. and chairman of
The CEOs of nearly 200 companies just said shareholder value is no longer their main objective Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, serves, dimon, roundtable, corporations, 200, companies, longer, communities, investing, shareholder, value, business, main, objective, nearly, purpose, statement, ceos


The CEOs of nearly 200 companies just said shareholder value is no longer their main objective

Shareholder value is no longer the main focus of some of America’s top business leaders.

The Business Roundtable, a group of chief executive officers from major U.S. corporations, issued a statement Monday with a new definition of the “purpose of a corporation.”

The re-imagined idea of a corporation drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement.

“While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders,” said the statement, which signed by 181 CEOs. “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”

“The American dream is alive, but fraying,” said Jamie Dimon, chairman and CEO of JPMorgan Chase & Co. and chairman of Business Roundtable, in a press release.

Along with Dimon, the statement also received signatures from chiefs Jeff Bezos, Tim Cook, Brian Moynihan, Dennis A. Muilenburg, Mary Barra and many more.

“Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term. These modernized principles reflect the business community’s unwavering commitment to continue to push for an economy that serves all Americans,” said Dimon.

Here is the full Business Roundtable statement.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, serves, dimon, roundtable, corporations, 200, companies, longer, communities, investing, shareholder, value, business, main, objective, nearly, purpose, statement, ceos


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Here are the biggest analyst calls of the day: Merck, Intel, Dow & more

Northland said in its upgrade of the chipmaker that it thinks sentiment is nearing a “low point.” “1) Shares our trading below our PT. 2) Shares are trading at 11.5x our below consensus CY20 estimates. 5) We think value stocks likely outperform higher multiple stocks during sell offs. 6) Sentiment nearing a low point.As such upgrading to MP. “


Northland said in its upgrade of the chipmaker that it thinks sentiment is nearing a “low point.” “1) Shares our trading below our PT. 2) Shares are trading at 11.5x our below consensus CY20 estimates. 5) We think value stocks likely outperform higher multiple stocks during sell offs. 6) Sentiment nearing a low point.As such upgrading to MP. “
Here are the biggest analyst calls of the day: Merck, Intel, Dow & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: michael bloom
Keywords: news, cnbc, companies, day, intel, merck, trading, shares, analyst, dow, calls, stocks, upgrading, low, estimates, value, view, biggest, sentiment, nearing


Here are the biggest analyst calls of the day: Merck, Intel, Dow & more

Northland said in its upgrade of the chipmaker that it thinks sentiment is nearing a “low point.”

“1) Shares our trading below our PT. 2) Shares are trading at 11.5x our below consensus CY20 estimates. 3) Negative AMD server launch catalyst is in the rear view mirror. 4) INTC beat Q2 by $900M and $0.17, but only increased CY19 estimates by $500M and $0.05. 5) We think value stocks likely outperform higher multiple stocks during sell offs. 6) Sentiment nearing a low point.As such upgrading to MP. “


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: michael bloom
Keywords: news, cnbc, companies, day, intel, merck, trading, shares, analyst, dow, calls, stocks, upgrading, low, estimates, value, view, biggest, sentiment, nearing


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$12.4 billion wiped off Tencent’s market value as the Chinese giant strikes a cautious note

Tencent shares slumped as much as 3.88% on Thursday after the Chinese technology giant reported a mixed bag of second-quarter results. Revenue rose 21% year-on-year to 88.82 billion yuan ($12.92 billion, according to the exchange rate published in the earnings statement). However, profit attributable to shareholders beat analyst forecasts, rising 35% year-on-year to 24.14 billion yuan. The company’s gaming division returned to growth, posting revenue of 27.3 billion yuan, up 8% year-on-year. Tha


Tencent shares slumped as much as 3.88% on Thursday after the Chinese technology giant reported a mixed bag of second-quarter results. Revenue rose 21% year-on-year to 88.82 billion yuan ($12.92 billion, according to the exchange rate published in the earnings statement). However, profit attributable to shareholders beat analyst forecasts, rising 35% year-on-year to 24.14 billion yuan. The company’s gaming division returned to growth, posting revenue of 27.3 billion yuan, up 8% year-on-year. Tha
$12.4 billion wiped off Tencent’s market value as the Chinese giant strikes a cautious note Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: arjun kharpal
Keywords: news, cnbc, companies, tencents, market, strikes, business, giant, chinese, yuan, note, value, wiped, billion, technology, cautious, second, companys, division, yearonyear


$12.4 billion wiped off Tencent's market value as the Chinese giant strikes a cautious note

Tencent shares slumped as much as 3.88% on Thursday after the Chinese technology giant reported a mixed bag of second-quarter results.

The stock later pared some losses and was down around 3% at 14:14 a.m. HK/SIN. That equated to around $12.4 billion of value being wiped out.

Revenue rose 21% year-on-year to 88.82 billion yuan ($12.92 billion, according to the exchange rate published in the earnings statement). That missed market estimates. However, profit attributable to shareholders beat analyst forecasts, rising 35% year-on-year to 24.14 billion yuan.

The company’s gaming division returned to growth, posting revenue of 27.3 billion yuan, up 8% year-on-year. Mobile games in particular were up 26%.

That was welcomed given that the Chinese government froze video game approvals last year, hurting Tencent’s business badly and wiping billions off the company’s market capitalization. Games need to be approved by the Chinese regulators before they can be released and monetized.

Gaming is Tencent’s biggest division, accounting for around 30% of revenue in the second quarter.

Another bright spot was the company’s financial technology and business services division, which includes revenues from WeChat Pay, Tencent’s wealth management product and cloud computing. That business was up 37% year-on-year to 22.9 billion yuan.

But management struck a note of caution for a number of areas. One was the advertising business, which saw a slowdown. Headwinds in that area are likely to continue, according to James Mitchell, chief strategy officer at Tencent.

“Our assumption is that the macro environment will remain difficult for the rest of the year and that the situation of the heavy supply of advertising inventory will continue for the rest of the year and potentially into next year,” he said on the company’s earnings call on Wednesday.

Tencent also reined in spending in the second quarter. Capital expenditure was down 38% compared to the year-ago period. Cash flow used for investing also dropped sharply in the first half of the year compared with the same period in 2018.

Mitchell said that was because the first half of 2018 had an “unusually rapid pace” of investment, but he did say the company was being more “measured” in how it deploys capital.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: arjun kharpal
Keywords: news, cnbc, companies, tencents, market, strikes, business, giant, chinese, yuan, note, value, wiped, billion, technology, cautious, second, companys, division, yearonyear


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Luckin Coffee CFO: Trade war with US will hit Chinese consumer confidence ‘at some point’

The chief financial officer of Luckin Coffee — Starbucks’ challenger for the Chinese coffee market — said Thursday that the trade war will hit consumer confidence. It will hit, sort of, consumer confidence at some point, I think,” Luckin CFO Reinout Schakel said on CNBC’s “Squawk on the Street ” Thursday. Luckin’s strategy has been, in part, to make its coffee and tea beverages affordable for the Chinese consumer. Luckin’s stock, which has a market value of $5 billion, is up 24% since its May in


The chief financial officer of Luckin Coffee — Starbucks’ challenger for the Chinese coffee market — said Thursday that the trade war will hit consumer confidence. It will hit, sort of, consumer confidence at some point, I think,” Luckin CFO Reinout Schakel said on CNBC’s “Squawk on the Street ” Thursday. Luckin’s strategy has been, in part, to make its coffee and tea beverages affordable for the Chinese consumer. Luckin’s stock, which has a market value of $5 billion, is up 24% since its May in
Luckin Coffee CFO: Trade war with US will hit Chinese consumer confidence ‘at some point’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: amelia lucas
Keywords: news, cnbc, companies, hit, consumer, cfo, value, starbucks, public, chinese, trade, think, luckin, coffee, war, point, market, confidence


Luckin Coffee CFO: Trade war with US will hit Chinese consumer confidence 'at some point'

The chief financial officer of Luckin Coffee — Starbucks’ challenger for the Chinese coffee market — said Thursday that the trade war will hit consumer confidence.

“Look, I think China is very resilient. I think overall there will be a bit of softness across the market you feel. It will hit, sort of, consumer confidence at some point, I think,” Luckin CFO Reinout Schakel said on CNBC’s “Squawk on the Street ” Thursday.

The trade war between the United States and China has been dragging on for more than a year. Tariffs from the U.S. on Chinese exports have weakened China’s economy, with the country posting its lowest rate of economic growth in nearly 30 years.

Luckin’s strategy has been, in part, to make its coffee and tea beverages affordable for the Chinese consumer. Schakel said that its drinks are about half as expensive of those of its competitors, including Starbucks.

“I think particularly the point around affordability will help us in gaining more market share going forward,” he said.

Shares of Luckin jumped more than 2% in morning trading Thursday after sliding the previous day on its first quarterly report since going public. The coffee chain is trying to overtake Starbucks by expanding rapidly and discounting its drinks, but that strategy resulted in wider-than-expected losses. Luckin is still unprofitable, but it expects to break even on the store level during its third quarter.

Luckin’s stock, which has a market value of $5 billion, is up 24% since its May initial public offering. It is narrowly outperforming Starbucks’ stock, which has a market value roughly 20 times larger, since its public debut.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: amelia lucas
Keywords: news, cnbc, companies, hit, consumer, cfo, value, starbucks, public, chinese, trade, think, luckin, coffee, war, point, market, confidence


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Analysts are predicting China’s Tencent will climb back above $500 billion in value

The Chinese giant is forecast to report the following results for the June quarter: 93.42 billion yuan ($11.9 billion) in revenue, according to estimates from Refinitiv. Profit attributable to shareholders of 20.74 billion yuan ($2.64 billion), according to estimates from Refinitiv. That hurt Tencent’s business, which relies on a large portion — nearly 41% in the first quarter — of revenue from online gaming. Nomura said in a recent note that it expects online gaming revenue to grow 10% year-on-


The Chinese giant is forecast to report the following results for the June quarter: 93.42 billion yuan ($11.9 billion) in revenue, according to estimates from Refinitiv. Profit attributable to shareholders of 20.74 billion yuan ($2.64 billion), according to estimates from Refinitiv. That hurt Tencent’s business, which relies on a large portion — nearly 41% in the first quarter — of revenue from online gaming. Nomura said in a recent note that it expects online gaming revenue to grow 10% year-on-
Analysts are predicting China’s Tencent will climb back above $500 billion in value Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: arjun kharpal
Keywords: news, cnbc, companies, billion, revenue, game, gaming, analysts, business, tencent, predicting, chinas, according, wechat, value, video, 500, tencents, climb


Analysts are predicting China's Tencent will climb back above $500 billion in value

Tencent’s headquarters in Shenzhen, China, pictured in August 2016. Bloomberg | Getty Images

Tencent is reporting second-quarter earnings on Wednesday and the the market is expecting the company’s core gaming business and its financial technology division to mean strong revenue growth. The Chinese giant is forecast to report the following results for the June quarter: 93.42 billion yuan ($11.9 billion) in revenue, according to estimates from Refinitiv. If realized, that would represent a nearly 27% year-on-year rise.

Profit attributable to shareholders of 20.74 billion yuan ($2.64 billion), according to estimates from Refinitiv. That would be a roughly 16% rise if it were hit.

Tencent’s troubles

In the three months to the end of March, Tencent logged its slowest pace of quarterly sales growth since it went public in 2004. That was because the Chinese government halted game approvals last year. Video games need to be approved by regulators in order to be released and monetized in China. That hurt Tencent’s business, which relies on a large portion — nearly 41% in the first quarter — of revenue from online gaming. Billions of dollars were wiped off the stock in 2018. China began approving games again at the start of the year and a number of Tencent titles got the green light. The company’s stock has staged a small revival and is up over 6% so far this year. Analysts, meanwhile, have maintained confidence in Tencent. The average 12-month price target on the stock is 428.46 Hong Kong dollars, according to Reuters data. That represents an over 28% upside from Tuesday’s close and a market capitalization of $521.7 billion. If Tencent’s valuation rises above $500 billion, it would be the first time since March 2018.

Gaming revival

After the game approval freeze was lifted, Tencent was able to release titles like “Peacekeeper Elite,” which is also known as “Game for Peace.” It’s a similar game to “PlayerUnknown’s Battlegrounds Mobile,” a game that Tencent co-developed but that never received approval for monetization. Tencent pulled that game from China, replaced it with “Game for Peace” and migrated users over. The game grossed $14 million in its first three days of availability in China, according to data from Sensor Tower. There are other signs that Tencent’s gaming business is looking up: The Chinese giant was the top grossing mobile game publisher worldwide in July, Sensor Tower data showed. Nomura said in a recent note that it expects online gaming revenue to grow 10% year-on-year driven mainly by a 30% rise in mobile gaming revenue, which accounts for 68% of the company’s total online gaming revenue.

New businesses

While gaming is still the biggest revenue driver for Tencent, it has looked to diversify to areas including financial technology and cloud computing. In the March quarter, Tencent broke out numbers for its “fintech and business services” division for the first time. That included revenue it received from payments via WeChat Pay and other financial services products like micro-loans. It also included cloud computing revenue. That division accounted for over 25% of revenue in the first quarter, making it the second-largest business for Tencent. The WeChat Pay platform, which is integrated into messaging app WeChat, is looking to become more profitable, according to analysts. “We have learned from our industry contacts that Tencent’s WeChat Pay has enhanced efforts to improve profitability by phasing out/reducing subsidies,” Nomura said in a recent note. Tencent pays subsidies to some merchants to use the WeChat Pay platform in order to boost its market share.

WeChat also has a social media function called Moments. Tencent has been slowly increasing the number of ads users see in that feed. Tencent’s other business units include content and video streaming as well as advertising. That mix of revenue streams and the company’s push toward diversification is one reason analysts are bullish. “Leveraging on its highly synergistic social ecosystem, Tencent’s diversified revenue streams from gaming to advertising and Fintech and business services demonstrates its strong execution capabilities,” Jefferies said in a note from earlier this month.

Headwinds

The major headwind for Tencent is the wider business environment, influenced by the U.S.-China trade war. Neil Campling, head of technology, media and telecommunications research at Mirabaud Securities called Tencent’s stock a “risk proxy” as the “largest and most liquid” emerging market stock. That has seen its shares caught up in some of the selling pressure that has weighed on Chinese stocks. Another headwind is the slowdown in the Chinese advertising market. Digital ad spending in the world’s second-largest economy is expected to hit $79.82 billion in 2019, growing 22% from the year before, according to eMarketer. That’s a slowdown from the 28% growth seen last year. That, coupled with stricter online content controls, could present a problem for Tencent. “Aside from lingering macro impacts, we expect Tencent’s video ads service, which is a big component of media ads, also suffered from tightening content regulation, which has caused delays in the airing of some popular video content and consequently caused disruption to the video ads business,” Nomura said.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: arjun kharpal
Keywords: news, cnbc, companies, billion, revenue, game, gaming, analysts, business, tencent, predicting, chinas, according, wechat, value, video, 500, tencents, climb


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WeWork CEO Adam Neumann has incentives tied to the company’s stock value and his charitable donations

CEO Adam Neumann stands to make a boatload of money off of the co-working start-up’s initial public offering, as he controls a majority of the voting rights through the company’s class B and C shares. WeWork gave Neumann a pre-IPO option to buy about 42.5 million shares, which will vest over the next 10 years. Neumann have the option to buy 7 million shares if he can get WeWork’s market cap to reach $50 billion, an additional 7 million shares if WeWork is worth $72 billion and, finally, another


CEO Adam Neumann stands to make a boatload of money off of the co-working start-up’s initial public offering, as he controls a majority of the voting rights through the company’s class B and C shares. WeWork gave Neumann a pre-IPO option to buy about 42.5 million shares, which will vest over the next 10 years. Neumann have the option to buy 7 million shares if he can get WeWork’s market cap to reach $50 billion, an additional 7 million shares if WeWork is worth $72 billion and, finally, another
WeWork CEO Adam Neumann has incentives tied to the company’s stock value and his charitable donations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: annie palmer
Keywords: news, cnbc, companies, shares, wework, incentives, million, adam, company, donations, companys, charitable, value, stock, filing, billion, tied, ceo, neumann


WeWork CEO Adam Neumann has incentives tied to the company's stock value and his charitable donations

WeWork, now known as the We Company, is paving the way for the second largest IPO of the year with the release of its S-1 filing on Wednesday.

CEO Adam Neumann stands to make a boatload of money off of the co-working start-up’s initial public offering, as he controls a majority of the voting rights through the company’s class B and C shares. He holds approximately 112.5 million of class B shares, or 98% of the total, as well as all of the company’s nearly 1.1 million class C shares.

But as the S-1 filing indicates, there are a number of terms tied to Neumann’s controlling ownership that are meant to help WeWork meet specific financial goals.

“As the company grew, our board of directors desired to provide a significant incentive to Adam to conduct an initial public offering, based on the premise that the company’s value would be maximized as a public entity rather than remaining privately held,’ the company’s S-1 filing states.

WeWork gave Neumann a pre-IPO option to buy about 42.5 million shares, which will vest over the next 10 years. Neumann have the option to buy 7 million shares if he can get WeWork’s market cap to reach $50 billion, an additional 7 million shares if WeWork is worth $72 billion and, finally, another 9.4 million shares if WeWork can hit a $90 billion market cap.

“By connecting these awards to service to the company and long-term value creation, our board believes we have set the foundation for long-term incentive alignment between Adam and our stockholders,” the company said.

Uber established similar incentives for CEO Dara Khosrowshahi ahead of its IPO. The ride-hailing company said it would issue Khosrowshahi an additional 1.75 million shares if Uber’s valuation hit $120 billion after the IPO in March.

Neumann must also fulfill certain charity contribution requirements in order to maintain voting control of the company.

Adam and Rebekah Neumann, the company’s chief brand and impact officer and his wife, have committed to donate $1 billion to fund charitable causes over the next 10 years. If they don’t, their supervoting shares will be halved in value to 10 votes per share.

“Rebekah and Adam are dedicating additional resources to amplify the positive global impact of our organization,” the company said in the filing. “Their first contribution aids in the conservation of over 20 million acres of intact tropical forest, including the region pictured on the final page of this prospectus.”

So far, the pair have donated more than 15% of the money they’ve made from selling shares to charity, the filing states.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: annie palmer
Keywords: news, cnbc, companies, shares, wework, incentives, million, adam, company, donations, companys, charitable, value, stock, filing, billion, tied, ceo, neumann


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CBS and Viacom have finally agreed to merge — here’s what they could buy next

CBS and Viacom have agreed to merge, ending a 3-year-old drama filled with starts and stops that reunite the two companies controlled by Shari Redstone’s National Amusements holding company. A combined company will have an enterprise value of about $50 billion. That still puts CBS-Viacom at a significant balance sheet disadvantage when it comes to borrowing for content spending on original programming and sports rights relative to competitors AT&T/Warner Media (enterprise value = $453 billion),


CBS and Viacom have agreed to merge, ending a 3-year-old drama filled with starts and stops that reunite the two companies controlled by Shari Redstone’s National Amusements holding company. A combined company will have an enterprise value of about $50 billion. That still puts CBS-Viacom at a significant balance sheet disadvantage when it comes to borrowing for content spending on original programming and sports rights relative to competitors AT&T/Warner Media (enterprise value = $453 billion),
CBS and Viacom have finally agreed to merge — here’s what they could buy next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: alex sherman
Keywords: news, cnbc, companies, billion, viacom, redstone, buy, finally, sony, discovery, company, deal, agreed, value, enterprise, merge, heres, starz, cbs


CBS and Viacom have finally agreed to merge — here's what they could buy next

CBS and Viacom have agreed to merge, ending a 3-year-old drama filled with starts and stops that reunite the two companies controlled by Shari Redstone’s National Amusements holding company. Now that you’ve had five minutes to digest the deal, it’s time to think about what Redstone and Bob Bakish, the combined company’s newly named CEO, want to do next. This may sound glib. But in this case, Redstone explicitly wants to get bigger faster, according to people familiar with the matter. Some of what caused the CBS-Viacom deal to drag along all year was figuring out which board members would stay with the combined company and getting those people focused on the new company’s direction. CBS has a market capitalization of about $18 billion. At an agreed upon exchange ratio of .59625, Viacom is valued at about $12 billion. A combined company will have an enterprise value of about $50 billion. That still puts CBS-Viacom at a significant balance sheet disadvantage when it comes to borrowing for content spending on original programming and sports rights relative to competitors AT&T/Warner Media (enterprise value = $453 billion), Disney (enterprise value = $315 billion), and Comcast/NBC Universal (enterprise value = $305 billion). And the legacy media companies have all bulked up to compete with technology giants Amazon (enterprise value = $924 billion), Apple ($922 billion), Alphabet/Google ($707 billion), Facebook ($495 billion) and Netflix ($143 billion). Bottom line: CBS/Viacom is still much smaller than its rivals that are also going to be bidding on the best movies and shows and, most importantly for CBS, the National Football League’s broadcast rights, which are set for renewal in 2022. So what are Redstone’s best options to add more heft and programming?

Discovery

As CNBC wrote in January, here’s strategic logic to pairing CBS/Viacom with Discovery. Redstone loves sports rights, and Discovery is a major player in European sports, owning exclusive rights to games in many European markets including pan-European television sports network EuroSport. Discovery also struck a deal with the PGA Tour for international rights and a golf streaming service last year for $2 billion. Moreover, Discovery outbid Viacom for Scripps Networks Interactive in 2017 — a $12 billion acquisition for the owner of HGTV, Travel Channel and Food Network. Bakish’s interest in Scripps at the time may suggest he’d be interested in a combination once again. One possible hangup to a deal would be who would run a combined company. Discovery CEO David Zaslav is only 59 and is well respected in the media industry. But Bakish would almost certainly want to keep his job as CEO after officially earning the role today. Discovery has a market valuation of about $15 billion and an enterprise value of $39 billion.

Starz/Lions Gate/MGM

CBS held preliminary talks to buy Starz from Lions Gate earlier this year, though a deal never got to the finish line. Starz makes some sense for CBS, which already owns rival premium video service Showtime. There’s certainly overlap between the two subscription services that could lead to synergies (i.e. cost cutting, job cuts in overlapping positions). CBS has been successful accumulating subscribers for its direct-to-consumer streaming services Showtime Anytime and CBS All Access, reaching 8 million subscribers two years before its own internal forecast and forecasting 25 paying customers by 2022. Starz is forecasting between 15 million and 25 million subscribers for its streaming service by 2024. But while CBS Chief Executive Officer Joe Ianniello had interest in Starz, Bakish may not be in a rush to go in that direction, according to people familiar with the matter. Buying Starz or even all of Lions Gate isn’t going to drastically move the needle for CBS. Lions Gate’s entire enterprise value is just $5.7 billion. Even if Lions Gate merges with MGM, a deal that’s been speculated for years, that combined company would still be much smaller than Discovery. In other words, if Bakish and Redstone want to get a lot bigger quickly, Starz, Lions Gate and MGM won’t do it. That may push them further down the list of priorities.

Sony Pictures

Activist investor Dan Loeb has put pressure on Sony this year to break up the $70 billion company into an electronics unit and an entertainment unit. While Sony has thus far resisted his calls for a split, Redstone has some interest in pursuing a potential deal for Sony Pictures, according to people familiar with the matter. The problem here is twofold. One, it’s not clear Sony would be interested in losing control of Sony Pictures. While it’s possible CBS could structure a deal where Sony would actually get some of Redstone’s voting shares as a sweetener, such a structure could be complicated. And two, if Sony was willing to part with Sony Pictures, which owns movie franchises such as “Spiderman” and “Men in Black” and TV series including “Seinfeld,” “Breaking Bad,” “Jeopardy!” and “Wheel of Fortune,” there would almost certainly be multiple suitors — including bigger fish like Comcast.

Univision

Univision isn’t as clear of a fit for CBS/Viacom. But it’s for sale. So that’s something. The privately held Spanish language broadcaster has been debating going public or selling for years. Madison Dearborn Partners, Providence Equity Partners and Thomas H. Lee Partners led a buyout with Haim Saban of the company back in 2007 for $13.7 billion. Early indications from bankers suggest Univision may have to sell for less if it finds a buyer now. Shari Redstone attended Allen & Co.’s Sun Valley conference in July — along with Saban. Whether the two discussed a deal is unclear.

Selling


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: alex sherman
Keywords: news, cnbc, companies, billion, viacom, redstone, buy, finally, sony, discovery, company, deal, agreed, value, enterprise, merge, heres, starz, cbs


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