On Monday, Shares of Twenty-First Century Fox, Inc. (NASDAQ:FOXA), lost -4.58% to $26.66, hitting its lowest level, as Needham & Company downgraded the stock from Buy to Hold while lowering estimates.
Analyst Laura Martin commented, “We lower estimates and downgrade FOXA to Hold from Buy. We lower our FY16 estimates to revenue of $28.0B (from $28.3B), EBITDA of $6.5B (from $6.9B) and Adjusted EPS of $1.75 (from $1.84). Our new EBITDA estimate remains within FOXA guidance. We worry that international, retrans & reverse comp upside drivers are already discounted into the share price, but that the rising costs of original content coupled with the risk that ratings weakness is structural (given FOX’s younger demo target audience) are not. We raise our discount rate to account for growing risk to future FCFs. As an industry, we worry about valuation multiple contractions as content companies risk their 2-revenue stream bundle by moving content toward single revenue stream business models like Netflix, YouTube, CBS.com, etc.”
Twenty-First Century Fox, Inc. operates as a diversified media and entertainment company worldwide. It operates through Cable Network Programming; Television; Filmed Entertainment; and Other, Corporate and Eliminations segments.
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL), declined -5.01% to $10.61, during its last trading session, hitting its lowest level.
Marvell Technology Group declared that the Company has postponed its second fiscal quarter of 2016 earnings release and conference call, originally planned for Thursday, August 20, 2015, to allow more time to finalize its quarterly financial results. Marvell intends to issue a press release subsequently about its rescheduled earnings date.
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers mobile and wireless products comprising communications and applications processors; thin modems; and connectivity solutions, counting Wi-Fi, Bluetooth, near field communication, and FM; and mobile computing products, in addition to silicon solutions and Kinoma software.
Finally, Owens & Minor Inc. (NYSE:OMI), ended its last trade with -2.62% loss, and closed at $32.67.
Owens & Minor declared that it has been selected as one of Inbound Logistics Top 100 3PL Providers for 2015. While more than 300 third-party logistics providers were considered, Owens & Minor and the other top providers were deemed “best equipped to meet and surpass readers’ evolving outsourcing needs,” according to the editors of Inbound Logistics.
“With an international logistics network that serves markets where some 74% of global healthcare spending occurs, we are very happy to be recognized for our ability to serve the logistics needs of our healthcare provider and manufacturer customers,” said P. Cody Phipps, president & chief executive officer of Owens & Minor. “Our sole focus on healthcare provides us with deep expertise and knowledge of the challenges faced by manufacturers and providers, making us the logistics partner of choice in our industry.”
With more than 60 logistics facilities across the United States and Europe and a suite of advanced logistics services, Owens & Minor offers comprehensive assistance to healthcare providers and manufacturers, counting a range of logistics solutions, in addition to value-added services such as quality assurance, issues administration, and regulatory compliance and licensing.
Owens & Minor, Inc., together with its auxiliaries, operates as a healthcare logistics company. It operates through two segments, Domestic and International. The company offers supply chain assistance to the providers of healthcare services; and the manufacturers of healthcare products, supplies, and devices. Its service portfolio comprises of procurement, inventory administration, delivery, and sourcing for the healthcare market.
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