John Thaler's JAT Capital has raised its stake in Madison Square Garden (NASDAQ:MSG) to 4.28M shares (6.7%). In its 13D, JAT says it "may seek to engage" MSG's board to "provide recommendations on ways to achieve long-term value."
MSG +1.9% AH to a new 52-week high. Shares have been buoyed by Steve Ballmer's $2B purchase of the Clippers, and its potential implications for the value of the Knicks.
The FCC has asked Comcast (CMCSA -0.3%) for a variety of information in relation to the company's proposed takeover of Time Warner Cable (TWC -0.2%), including some that delve into the company's Internet and content delivery policies.
One key question posed to Comcast by the agency is whether or not it slows down the delivery of programming from rivals.
Wolfe Research has an interesting observation on American Airlines Group (AAL +1.1%) that could give investors a reason to buy the stock.
Analysts with the boutique investment note that the 2015 consensus EPS estimates on American, which feel "light" to them for starters, have risen faster this year than the carrier's stock price, 63% vs. 56%.
The differential is the biggest that Wolfe found in the sector.
Under Armour (UA +0.4%) has offered Oklahoma City All-Star Kevin Durant a 10-year basketball shoe contract worth between $265M and $285M, according to an EPSN report from earlier this week.
Though Nike (NKE +0.4%) has had Durant under contract since 2007, the company is expected to let Durant go with Under Armour seen as paying a hefty premium just to gain some instant basketball shoe credibility.
The Oregon sports juggernaut has another pretty solid reason to pass on matching Under Armour's offer with its Air Jordan brand still remarkably strong at 30.
Keurig Green Mountain (GMCR +8.5%) and Kraft Foods Group (KRFT +0.3%) sign a new licensing deal which will see Kraft-branded packs sold for Keurig commercial and consumer coffee brewing systems in the U.S.
Distribution will begin this fall.
Financial terms of the arrangement weren't disclosed.
What to watch: The deal is a bit of a coup for Keurig with Kraft selling unlicensed K-cup packets previously.