Hot Performer of the day: Discovery Communications, Inc. (DISCA)

Discovery Communications acquires Scripps Networks Interactive

Discovery Communications To Buy Scripps Networks (SNI) For $14.6 Billion

DISCA's distance from 20 day simple moving average is 2.12% and distance from 50-Day simple moving average is 2.59%. Scripps Networks Interactive, Inc. The company has a market cap of $10.14 billion, a P/E ratio of 11.98 and a beta of 1.49.

Discovery Communications (NASDAQ:DISCK) last announced its quarterly earnings data on Tuesday, May 9th.

Unfortunately, Wall Street had forecast EPS of 72 cents on $1.76 billion in revenue, per Yahoo Finance, meaning Discovery missed the mark at both its top and bottom-lines. Each produces net profit margins in the high teens, with Discovery earning a net profit of $1.2 billion past year. The firm had revenue of $855 million during the quarter, compared to analyst estimates of $856.98 million. During the same period a year ago, the firm earned $0.71 earnings per share. The business's revenue was up 4.7% compared to the same quarter previous year. (NASDAQ:DISCA) to report $ 0.55 EPS and has got OUTPERFORM rating from 2 of Thomson Reuters analysts and 5 analyst (s) given UNDERPERFORM rating.

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By combining the content of each company, Discovery has more power to create "skinny bundle" options for viewers, which offer fewer channels and are cheaper for people unwilling to shell out for a big, monthly cable bill.

Other large investors have also modified their holdings of the company. The analyst recommendations from a month ago are 1 Buy, 0 Overweight, 0 Sell, 0 Hold and 0 Underweight. Finally, MKM Partners reaffirmed a "neutral" rating and issued a $73.00 price target (down from $84.00) on shares of Scripps Networks Interactive in a research note on Friday, July 21st. The stock presently has a consensus rating of "Hold" and an average price target of $76.60.

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The Standard & Poor's 500 index was little changed at 2,472. Following the completion of the transaction, the insider now owns 78,323 shares in the company, valued at approximately $5,455,196.95. The sale was disclosed in a document filed with the SEC, which is available at this link.

The cash and stock transaction to buy Scripps values SNI stock at $90 per share, and includes the assumption of Scripps' debt. (NASDAQ:WFM) ended its day at $41.82 with the rising stream of 0.10% and its total traded volume was 3.87 million shares less than the average volume.

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