Viacom And CBS Stocks Drop On Day After Merger Reveal As Analysts React To Deal

CBS stock was at $49.60 in mid-day trading, while Viacom was at $27.33. Worries about weak economic data from China and Germany, as well as the yield on 10-year Treasury bonds sent the Dow 30, Nasdaq and S&P 500 down sharply. In the media and tech sectors, though, the new components of the soon-to-beshowed some of the worst damage. Discovery shares fell 6% and Sinclair Broadcast Group shed 9% of its value.

Bank of America Merrill Lynch upgraded CBS to “buy” from “neutral,” and raised its price target to $63 from $58. Michael Nathanson of MoffettNathanson maintains a “buy” rating on CBS stock and rates Viacom’s “neutral.” Michael Morris of Guggenheim upped his 12-month price target for CBS, to $59 from $57. He also upgraded Viacom shares to “buy” from “neutral.” In a note to clients, Morris wrote, “We see the combined company as more strongly positioned to leverage its content pipeline to pursue incremental growth opportunities while maintaining a leadership position in linear video media.”

The market is falling so difficult to separate the merger from Trump.

shocker

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CBS And Viacom Stocks Both Sink As Merger Deal Nears Close – UpdateUPDATED with closing stock prices. Shares of CBS slipped 2% after early gains and Viacom’s dropped 5% Monday as investors reacted to word that the companies were near the finish line in their…
Source: DEADLINE - 🏆 109. / 63 Read more »

CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for mergerThe negotiations for the CBS and Viacom merger could finish as soon as Monday, sources say. Government should not allow merger. Mergers are bad for America. Stellate23 Too many mergers and buyouts. The consumer is being squeezed from every angle. Competition is healthy for the economy. Greed and consolidation of power are not. 😳 Such horseshit, if that’s the agreement then the Viacom shareholder is getting screwed.
Source: CNBC - 🏆 12. / 72 Read more »

CBS and Viacom Shares Drop as Merger Talks Drag OnShares of CBS and Viacom were dented in trading Monday as investors awaited news of a merger agreement between the two media companies controlled by the Redstone family. Viacom shares fell 5% to cl…
Source: Variety - 🏆 108. / 63 Read more »

CBS-Viacom Merger Imminent As Sides Agree On PriceCBS and Viacom have agreed to a price for their long-awaited merger and plan to formalize the deal with an announcement after the close of trading today, sources tell Deadline. The “exchange ratio”…
Source: DEADLINE - 🏆 109. / 63 Read more »