The Zacks Analyst Blog Highlights:CBS, Time Warner, Broadcom, ShoreTel and Harris
CHICAGO, Nov. 07, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the CBS Corp. (NYSE:CBS--Free Report), Time Warner Inc. (NYSE:TWX--Free Report), Broadcom Corp (Nasdaq:BRCM--Free Report), ShoreTel, Inc. (Nasdaq:SHOR--Free Report) and Harris Corporation (NYSE:HRS--Free Report).
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Here are highlights from Wednesday's Analyst Blog:
CBS Posts Record 3rd Quarter Results
CBS Corp. (NYSE:CBS--Free Report) announced third quarter earnings after the bell today, posting in-line with the Zacks Consensus EPS estimate of $0.76. Moreover, revenues were above the Zacks Consensus Estimate of $3.53 billion, by 0.1 billion.
One of the most interesting items from the announcement regarded the Outdoor Americas division which is supposed to be spun into a standalone REIT IPO in early Q1 2014. Management announced that half of the division's revenue would come from fast growth non-advertising revenue. This is more than the street anticipated. Moreover, it is a strong indication of the IPO's growth potential going forward.
Another driver was the renewal of the Time Warner Inc. (NYSE:TWX--Free Report) cable deal, in the early part of the quarter, which restored CBS's content with the cable company. The agreement ended an almost month long dispute between the two companies. And not soon enough for football fans.
According to Leslie Moonves President and Chief Executive Officer, CBS Corporation "Our record third-quarter results—driven by double-digit revenue growth—are the continuation of a phenomenal first half, and provide more clarity on what will be another amazing full year for the CBS Corporation." "We continue to launch new hits—from Under the Dome and Ray Donovan this summer to the top three new comedies on television this fall. Through our studio, we have an ownership interest in most of these shows, meaning that their success not only boosts our base business, but also our newer revenue streams as well, including very strong growth in retransmission consent fees, reverse compensation, international sales and all the opportunities afforded to us by exploding advances in technology. Plus, we are working toward a new advertising model in which we get paid for the significant, additional viewing that is increasingly taking place after a show first airs."
In afterhours trading, CBS is down less than 1% on very light volume. Tomorrow morning Zacks will have a full earnings report covering TV ad growth, mobile news, and the overall impact of the contract negations with TWX.
New GbE Controller from Broadcom
Broadcom Corp (Nasdaq:BRCM--Free Report) recently launched the first Gigabit Ethernet (GbE) controller to integrate a management controller with a high-performance network controller.
The Broadcom BCM5725 device is ideally suited for cloud and server environments that demand intelligent management features with very low power consumption. Compared to the existing server design, the new device replaces three separate components including the baseboard management controller, GbE controller and system management firmware. This new device is cost effective in comparison to other similar products available in the market and offers a configurable management solution for high-performance cloud computing applications. The BCM5725 device supports open and interoperable standards-based remote discovery, monitoring, control and management features.
Broadcom is well placed in the fast-growing wired and wireless communications markets with cutting-edge solutions for a growing number of connected users who demand more content and bandwidth. This device is ideal for addressing the growing demand for cloud computing solutions.
Broadcom continues to drive innovation and engineering excellence across a broad range of communication end markets to help its customers enhance device performance and improve overall power efficiency. The innovative technologies related to connectivity, bandwidth and content enable the company to capture a sizeable market share.
Based in Irvine, Calif., Broadcom is engaged in designing and marketing semiconductor components of network voice, video, and data traffic for various applications.
Broadcom currently has a Zacks Rank #4 (Sell). Other stocks that look promising and are worth a look in the industry include
ShoreTel, Inc.
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) that carries a Zacks Rank #1 (Strong Buy), and
Harris Corporation
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) has a Zacks Rank #2 (Buy).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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