NEW YORK (TheStreet) -- Shares of Viacom Inc. are lower by 3.33% to $65.80 in mid-morning trading on Tuesday, as Morgan Stanley downgraded the entertainment sector to "cautious" from "overweight", and downgraded Viacom to "underweight" from "equal weight." The firm said it reduced its rating on the entertainment industry due to weak ad outlook, headwinds in foreign exchange, and the wearing away of subscriber bases. "Media's cyclical (ad recovery) and structural (content monetization) tailwinds have faded. Sources of recent incremental earnings are now driving painful fragmentation -both in ad share and pay-TV subscriptions. After five years of outperformance, we move to cautious as margins and multiples correct," Morgan Stanley said in an analyst note this morning. Exclusive Report: Jim Cramer's Best Stocks For 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. Time Warner Inc. was also downgraded, to "equal weight" from "overweight." Shares of Time Warner are lower by 2.73% to $80.91. VIAB data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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