It is not enough that The New York Times company has been bleeding circulation and advertising revenue and that online operations cannot make that up. Now there is further evidence that it cannot hold circulation in it home market.
The latest figures for daily newspaper circulation show the New York Times down 3.5% for the six month period ending September 30 dropping to 1,086,798.. The other key NYT property, The Boston Globe, did even worse. Circulation there fell 6.7% to 386,415.
Moving onto the list of the top five circulation dailies in the US is the NY Post. It now ranks ahead of papers like The Chicago Tribune and Washington Post.
The New York Times better look over its shoulder. News Corp's NY Post might be gaining on them
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
Senin, 30 Oktober 2006
Sony Goes To The Mattresses (SNE)(AAPL)(TWX)
Like a mob boss trapped by federal agents in a farm house, Sony has decided it needs to go to the mattresses.
The company now admits that its Playstation3 platform and burning PC batteries recall are going to be legacy problems. Sony needs to turn elsewhere for growth.
But, by signalling which parts of the company might make up for problems with its gaming platform, Sony may be taking the risk of making promises to Wall St. that it cannot keep. For a second time.
Where is Sony pointing for relief? Its movie studio and consumer electronics businesses.
The big Japanese conglomerate is risking its growth on two notably fickle industries. Sony Pictures has done very well this year, with films like "The Da Vinci Code" , but, as studios like Warner Bros have showed recently success one year does not necessarily roll into the next.
Consumer electronics is also a tough and crowded market. IPod. Samsung. Toshiba. It's a long list.
Now that Sony has telegraphed its punches, it better deliver.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
The company now admits that its Playstation3 platform and burning PC batteries recall are going to be legacy problems. Sony needs to turn elsewhere for growth.
But, by signalling which parts of the company might make up for problems with its gaming platform, Sony may be taking the risk of making promises to Wall St. that it cannot keep. For a second time.
Where is Sony pointing for relief? Its movie studio and consumer electronics businesses.
The big Japanese conglomerate is risking its growth on two notably fickle industries. Sony Pictures has done very well this year, with films like "The Da Vinci Code" , but, as studios like Warner Bros have showed recently success one year does not necessarily roll into the next.
Consumer electronics is also a tough and crowded market. IPod. Samsung. Toshiba. It's a long list.
Now that Sony has telegraphed its punches, it better deliver.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
Select Analyst Calls (Oct. 30, 2006)
AAP started as Underweight at JPMrgan.
AMP raised to Neutral at B of A.
AZO started as Underweight at JPMorgan.
BIIB raised to Peer Perform at Bear Stearns.
CAR cut to Hold at Soleil.
CRS raised to Outperform at Bear Stearns.
CX raised to Buy at Merrill Lynch.
ENR started as Underweight at Morgan Stanley.
END started as Overweight at JPMorgan.
HLND started as Overweight at Lehman.
IR cut to Hold at Deutsche Bank.
JNS cut to Sell at Goldman Sachs.
KLAC raised to Outperform at RBC.
KOF raised to Equal Weight at Lehman.
KOMG raised to Buy at Deutsche Bank.
LLL raised to buy list at Goldman Sachs.
LMT raised to Buy at Goldman Sachs.
LNET cut to Hold at Soleil.
LVS started as Buy at Deutsche Bank.
NOVN cut to Sell at Soleil.
NVLS cut to Sector Perform at RBC.
OSG cut to Sell at Citigroup.
ORLY started as Neutral at JPMorgan.
PSUN raised to Neutral at JPMorgan.
SHW started as Equal Weight.
SSCC raised to Buy at B of A.
WFMI cut to Sector Perform at RBC.
WSH raised to Overweight at Morgan Stanley.
YHOO raised to Buy at Merrill Lynch.
AMP raised to Neutral at B of A.
AZO started as Underweight at JPMorgan.
BIIB raised to Peer Perform at Bear Stearns.
CAR cut to Hold at Soleil.
CRS raised to Outperform at Bear Stearns.
CX raised to Buy at Merrill Lynch.
ENR started as Underweight at Morgan Stanley.
END started as Overweight at JPMorgan.
HLND started as Overweight at Lehman.
IR cut to Hold at Deutsche Bank.
JNS cut to Sell at Goldman Sachs.
KLAC raised to Outperform at RBC.
KOF raised to Equal Weight at Lehman.
KOMG raised to Buy at Deutsche Bank.
LLL raised to buy list at Goldman Sachs.
LMT raised to Buy at Goldman Sachs.
LNET cut to Hold at Soleil.
LVS started as Buy at Deutsche Bank.
NOVN cut to Sell at Soleil.
NVLS cut to Sector Perform at RBC.
OSG cut to Sell at Citigroup.
ORLY started as Neutral at JPMorgan.
PSUN raised to Neutral at JPMorgan.
SHW started as Equal Weight.
SSCC raised to Buy at B of A.
WFMI cut to Sector Perform at RBC.
WSH raised to Overweight at Morgan Stanley.
YHOO raised to Buy at Merrill Lynch.
Pre-Market Stock News (Oct. 30, 2006)
(ANSV) Anesiva delayed some testing results for 2 or 3 weeks with the FDA.
(APCC) American Power Conversions up $6.29 after getting $31 buyout offer from French mkaer of power back-ups.
(ARJ) Arch Chemicals $0.30 EPS vs $0.29e.
(BLK) Blackrock $1.06 EPS vs $1.14e; unsure if items in number.
(CCO) Clear Channel Outdoors $0.09 EPS vs $0.07e.
(CCU) Clear Channel Communication $0.38 EPS vs $0.37e.
(CSCX) Cardiac SCiences extended GE pact.
(DCO) DCO $0.40 EPS vcs $0.34e.
(FPL) FPL Group $1.15 EPS vs $1.07e.
(GERN) Geron -$0.15 EPS vs -$0.16e.
(HOC) Holly Corp authorized up to $100 million for stock buybacks.
(IFSIA) INterface filed to sell 5 million shares of common stock.
(KIM) Kimco Realty $0.56 EPS vs $0.6e.
(LOW) Lowe's up 1% afterCramer said it has bottomed and should be bought.
(LYO) Lyondell filed to sell 10 million shares of common stock.
(MCEL) Millennium Cell -$0.04 EPS vs -$0.05e.
(NRGN) Neurogen starts phase II studies on insomnia patients.
(PMTI) Palomar Tech trading up afgter Cramer said it can still be bought to make some money.
(QCOM) Qualcoom reported that a court has enjoined Broadcom from using Qualcomm's patent.
(RIN) Rinker rejected offer from Cemex as it wants more cash.
(RSG) Repbublic Services $0.58 EPS vs $0.51e.
(SKYW) Skywest $0.63 EPS vs $0.63e.
(SYY) Sysco Foods $0.37 EPS vs $0.36e.
(VZ) Verizon $0.68 EPS vs $0.66e.
(WMT) Wal-Mart said OCT retial sales look up only 0.5%.
(WSSI) Webside Story names new CEO; said it will meet or beat previous guidance.
(APCC) American Power Conversions up $6.29 after getting $31 buyout offer from French mkaer of power back-ups.
(ARJ) Arch Chemicals $0.30 EPS vs $0.29e.
(BLK) Blackrock $1.06 EPS vs $1.14e; unsure if items in number.
(CCO) Clear Channel Outdoors $0.09 EPS vs $0.07e.
(CCU) Clear Channel Communication $0.38 EPS vs $0.37e.
(CSCX) Cardiac SCiences extended GE pact.
(DCO) DCO $0.40 EPS vcs $0.34e.
(FPL) FPL Group $1.15 EPS vs $1.07e.
(GERN) Geron -$0.15 EPS vs -$0.16e.
(HOC) Holly Corp authorized up to $100 million for stock buybacks.
(IFSIA) INterface filed to sell 5 million shares of common stock.
(KIM) Kimco Realty $0.56 EPS vs $0.6e.
(LOW) Lowe's up 1% afterCramer said it has bottomed and should be bought.
(LYO) Lyondell filed to sell 10 million shares of common stock.
(MCEL) Millennium Cell -$0.04 EPS vs -$0.05e.
(NRGN) Neurogen starts phase II studies on insomnia patients.
(PMTI) Palomar Tech trading up afgter Cramer said it can still be bought to make some money.
(QCOM) Qualcoom reported that a court has enjoined Broadcom from using Qualcomm's patent.
(RIN) Rinker rejected offer from Cemex as it wants more cash.
(RSG) Repbublic Services $0.58 EPS vs $0.51e.
(SKYW) Skywest $0.63 EPS vs $0.63e.
(SYY) Sysco Foods $0.37 EPS vs $0.36e.
(VZ) Verizon $0.68 EPS vs $0.66e.
(WMT) Wal-Mart said OCT retial sales look up only 0.5%.
(WSSI) Webside Story names new CEO; said it will meet or beat previous guidance.
Radio Stocks Runs Like A Scalded Dog
The word is that video killed the radio star. Seem that way. YouTube. AOL Video. Yahoo! Video, MovieLink, IPTV.
:Might as well bury radio and sing “Danny Boy”.
Thing is, radio won’t die. At least not shares in radio companies.
Last week Sirius shares took a big run from $3.68 to $3.95 in one day. The NBA started on Sirius, but there was no big news there.
XM had an even bigger move over the course of a trading day. It jumped from under $10 to $11.95. The company made an announcement about some convertible securities, but nothing that would seem to move the stock almost 20%.
Traditional radio giant Clear Channel also made an impressive move from $31.52 on last Tuesday to $35.46. The company’s management indicated it might be willing to consider a private equity buy-out.
It may be that nothing will come of the action, but at least some of Wall St’s big money is looking at radio again. Maybe it’s because it hasn’t gone away and stocks in the sector have gotten so cheap. Sirius has not been this low since late 2004. XM has not been this low since 2003. Clear Channel has come up some, but its but, its August low of $27.17 is as low as the stock has been since 2002.
XM and Sirius still lose a lot of money. But, there is a segment of the investing community that believes that they are growing fast enough to become profitable before they have to raise more money. Clear Channel had an operating profit of almost $1.5 billion in 2005 on revenue of $6.6 billion.
High definition TV may be great, but try watching it while you are driving.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
:Might as well bury radio and sing “Danny Boy”.
Thing is, radio won’t die. At least not shares in radio companies.
Last week Sirius shares took a big run from $3.68 to $3.95 in one day. The NBA started on Sirius, but there was no big news there.
XM had an even bigger move over the course of a trading day. It jumped from under $10 to $11.95. The company made an announcement about some convertible securities, but nothing that would seem to move the stock almost 20%.
Traditional radio giant Clear Channel also made an impressive move from $31.52 on last Tuesday to $35.46. The company’s management indicated it might be willing to consider a private equity buy-out.
It may be that nothing will come of the action, but at least some of Wall St’s big money is looking at radio again. Maybe it’s because it hasn’t gone away and stocks in the sector have gotten so cheap. Sirius has not been this low since late 2004. XM has not been this low since 2003. Clear Channel has come up some, but its but, its August low of $27.17 is as low as the stock has been since 2002.
XM and Sirius still lose a lot of money. But, there is a segment of the investing community that believes that they are growing fast enough to become profitable before they have to raise more money. Clear Channel had an operating profit of almost $1.5 billion in 2005 on revenue of $6.6 billion.
High definition TV may be great, but try watching it while you are driving.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
Airbus Hands Boeing The Keys To The Plane (BA)
The smoke signals have been rising above the horizon for some time now. Emirates Airlines has dropped orders for the ten Airbus 340s it was buying and will go with the Boeing 777 instead. Emirates is also sending some of its folks to Airbus to see whether the European airplane manufacturer will ever actually build the 380 super-jumbo jet. If the visit goes badly, Boeing could pick up some 747 orders as well.
When Boeing announced earnings recently, its stock dropped from about $84 to $80.. Investors were trading the past instead of the future. Never a good thing.
Boeing earnings were down, partly because the company closed its airplane broadband unit. However, sales were up as were airplane deliveries. Boeing also raised guidance for next year.
The folks on Wall St. wanted a little more than Boeing had to offer, and refused to trade the shares higher. Maybe it will take Airbus shutting down for them to see the orders coming Boeing’s way.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in com.panies that he writes about
When Boeing announced earnings recently, its stock dropped from about $84 to $80.. Investors were trading the past instead of the future. Never a good thing.
Boeing earnings were down, partly because the company closed its airplane broadband unit. However, sales were up as were airplane deliveries. Boeing also raised guidance for next year.
The folks on Wall St. wanted a little more than Boeing had to offer, and refused to trade the shares higher. Maybe it will take Airbus shutting down for them to see the orders coming Boeing’s way.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in com.panies that he writes about
Wal Mart Moves Toward Negative Growth (WMT)(TGT)
Someone came up with the term “negative growth” because the word “shrinking” seemed to mundane. No matter. Wal-Mart is very close to shrinking and negative growth here in its home market. After saying it might grow 2% to 4%, then recently revising that to 1.3%, Wal-Mart could only muster a .5% same-stores sales figure. For all we know that could be revised downward as it was in another recent month.
Despite revamped stores and discounting holiday goods, Wal-Mart may be reaching the end of it growth phase in the US. It may simply have too many stores, too much market share, and too much competition from other large retailers like Target. There are, of course, large online retailers like Amazon who did not even exist a decade ago.
According to the company's 10-Q, in its last full quarter Wal-Mart’s international sales grew from $14.2 billion last year to $18.6 billion, about 32% compared to 6% in the US. Operating income for the unit grew from $799 million to $977 million. Wal-Mart US stores had operating income of over $4 billion, so international has a ways to go to catch up. But, it will have to try.
Since Wal-Mart has exited the South Korean and German markets, overseas growth may be a lot tougher.
But, no matter. The “negative growth” may be starting for the huge retailer’s US operations.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
Despite revamped stores and discounting holiday goods, Wal-Mart may be reaching the end of it growth phase in the US. It may simply have too many stores, too much market share, and too much competition from other large retailers like Target. There are, of course, large online retailers like Amazon who did not even exist a decade ago.
According to the company's 10-Q, in its last full quarter Wal-Mart’s international sales grew from $14.2 billion last year to $18.6 billion, about 32% compared to 6% in the US. Operating income for the unit grew from $799 million to $977 million. Wal-Mart US stores had operating income of over $4 billion, so international has a ways to go to catch up. But, it will have to try.
Since Wal-Mart has exited the South Korean and German markets, overseas growth may be a lot tougher.
But, no matter. The “negative growth” may be starting for the huge retailer’s US operations.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
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