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Comcast Corporation (CMCSA)

- NASDAQ
  • Mon, May 11, 12:28 PM
    • Avengers: Age of Ultron (NYSE:DIS) had a second weekend almost to itself at the box office, drawing $77.2M to lead yet again and bring its domestic haul to $312.9M -- the second-fastest film to the $300M mark, behind only the original Avengers film.
    • With an international take of $68M for a worldwide total of $875.3M and openings yet to come in China and Japan, it should join Furious 7 (NASDAQ:CMCSA) in the global billion-dollar club before long.
    • Comedy Hot Pursuit (TWX; Reese Witherspoon, Sofia Vergara) finished at No. 2 with a very light opening of $13.3M (on more than 3,000 screens) and negative critical reaction.
    • Other notable receipts: Furious 7 was fourth with $5.3M to bring its domestic take to $338.4M, and Home (NASDAQ:DWA) was seventh with $3M to bring its total gross to $162.1M.
    | 5 Comments
  • Mon, May 11, 9:12 AM
    • Comcast (NASDAQ:CMCSA) has named Carlyle Group's Michael J. Cavanagh its next CFO, and senior executive VP.
    • He replaces Michael Angelakis, who said March 31 he was leaving Comcast to form a strategic company to find new growth areas for the telecom. Comcast is putting $4B into Angelakis' company.
    • Cavanagh has been co-president and co-COO at Carlyle and spent nearly six years as CFO of JPMorgan Chase, as well as serving as that company's co-CEO of its Corporate and Investment Bank.
    • Angelakis sill become senior adviser to Comcast and help with a short transition.
    • Comcast shares are up 0.6% premarket.
    • Previously: Comcast to back new strategic company (Mar. 31 2015)
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  • Thu, May 7, 6:27 PM
    • Bright House Networks is going to walk away from its $10.4B deal to be bought by Charter Communications (NASDAQ:CHTR), Reuters reports.
    • The deal was contingent on a successful Comcast (NASDAQ:CMCSA) purchase of Time Warner Cable (NYSE:TWC) -- a plan that was dropped two weeks ago -- but it did have a 30-day renegotiation period. Negotiations still formally continue, but Bright House (the nation's sixth-largest cable operator) looks to be out in any case.
    • As another step in the day-to-day consolidation soap opera of "As the Cable Turns," it's important to note that Time Warner Cable has a tight relationship with Newhouse-family owned Bright House: TWC negotiates Bright House's programming and technology deals for a fee, and has right of first offer on the Newhouses' cable systems.
    • Previously: WSJ: Charter reaches out to TWC for friendly deal (May. 04 2015)
    • Previously: Charter off 1.1%; loss widens amid Comcast-TWC failure (May. 01 2015)
    • Previously: 'As the Cable Turns': Industry deal talk turns to Bright House (Apr. 30 2015)
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  • Thu, May 7, 11:59 AM
    • Universal Parks & Resorts (NASDAQ:CMCSA) is partnering with Nintendo (OTCPK:NTDOY +4.6%) to bring the latter's Mario and other popular (and numerous) video game characters to themed attractions.
    • Potential Nintendo rides got a good public test at the 2014 SXSW Festival, where Pennzoil and Nintendo created a live version of Mario Kart 8.
    • For Nintendo, it's another partnership after some reluctance to team up with others. The company got together with online gaming company DeNA to jump into smartphone gaming this spring.
    • "For Nintendo IP, a more active approach will be taken in areas outside the video game business, including visual content production and character merchandising," Nintendo says in a statement.
    • Details of the deal weren't available, but Universal has theme parks in Orlando, Fla.; Hollywood; Singapore; and Japan.
    | 3 Comments
  • Wed, May 6, 3:12 PM
    • With some stored-up momentum after its failed Time Warner Cable deal, Comcast (NASDAQ:CMCSA) isn't wasting time on its next multi-gigabit offering, pledging to roll out 2-Gbps service in Greater Chicago starting later this month.
    • As with earlier markets, the delivery is via fiber-to-the-home, available to homes "within close proximity" to Comcast's fiber network.
    • Chicago makes Comcast's first multi-gigabit launch in the Midwest, after earlier announcements to launch in Atlanta, California, Chattanooga and Florida.
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  • Wed, May 6, 1:08 PM
    • On stage in general session at the Internet & Television Expo (INTX), panel moderator Julia Boorstin assembled nearly all major cable CEOs and pressed them on hot M&A issues.
    • Most were circumspect -- "The world's full of possibilities, but I can't tell you any of them," said Charter (NASDAQ:CHTR) CEO Tom Rutledge -- but James Dolan, CEO of Cablevision (CVC +6%), wasn't, urging market-by-market consolidation instead, starting with CVC's home market of New York City.
    • “Consolidation of that marketplace would provide, one, a great deal of ingenuity and much more access to resources for the customers and lower prices,” he said, suggesting specifically that he'd deal with Time Warner Cable (NYSE:TWC), "and Comcast (NASDAQ:CMCSA) and other operators."
    • Shares moved up 6% after his comments on indications that Cablevision might sell to a suitable acquirer.
    • Previously: WSJ: Charter reaches out to TWC for friendly deal (May. 04 2015)
    • Previously: 'As the Cable Turns': Industry deal talk turns to Bright House (Apr. 30 2015)
    | 1 Comment
  • Tue, May 5, 7:54 PM
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  • Tue, May 5, 1:45 PM
    • Comcast (NASDAQ:CMCSA) is adding substantially to its Xfinity Home business through partnerships with nine of the more advanced companies on the home automation front, including Google's Nest, August and Lutron -- moves that should brighten up a business that seemed stuck in the '90s.
    • Xfinity Home has 500K subscribers who will be offered a tiered set of plans ranging from DIY to a more substantial home security offering. Technicians will install Xfinity Home hardware to support partner devices (thermostats from Nest, lighting from Lutron, smart locks from August, sprinklers from Rachio etc.) along with a tablet to control them.
    • The company plans a software developers kit to allow more developers to join the ecosystem with official support.
    • Meanwile, Comcast has introduced a voice-controlled remote for its X1 video platform that can use commands to change channels, search for programs or set DVR recordings.
    | 1 Comment
  • Mon, May 4, 9:33 PM
    • Comcast (NASDAQ:CMCSA) finished the first quarter with just 6,000 more video subscribers than broadband subscribers, and on today's earnings call, Cable CEO Neil Smit confirmed that the numbers have flipped by now -- so Comcast is officially more broadband company than cableco.
    • That's a regulatory risk further out, considering FCC regulation, but Comcast is looking pretty good for now, after a first-quarter earnings beat and 2.5% revenue growth.
    • The company still makes more from video than broadband at the moment, but the margins are higher for broadband service, as content costs continue to pile up.
    • CEO Brian Roberts says they're disappointed about the blow-up of the Time Warner Cable deal, "but really, really we've moved on," and his top priorities focus on execution around the company's existing assets, "service, organic growth."
    • Theme Parks showed 33%-plus growth for NBCUniversal, and unit chief Steve Burke said to expect more investment there including "a very significant hotel build out in Orlando over the next five or so year."
    | 1 Comment
  • Mon, May 4, 11:53 AM
    • Time was when the summer movie season began Memorial Day weekend ... then Avengers: Age of Ultron (NYSE:DIS) set up for May 1, and pulled a whole lot of box-office money forward into the spring. The sequel drew $187.7M to mark the second-biggest domestic opening ever.
    • The film fell short of what some observers though would be the all-time record: topping The Avengers' $207.7M opening in 2012. A tough major-sports Saturday might have hurt the take, as Age of Ultron had a stellar $84.5M Friday before tailing off to $57.2M Saturday.
    • The new Avengers is a worldwide success with $627M in its 12 days out. Speaking of blockbuster season's earlier appearance, Furious 7 (CMCSA +0.6%) just took the month of April for its high-octane self but finally yielded to the Disney blockbuster as well as second-week release The Age of Adaline, (NYSE:LGF) which took the No. 2 spot with $6.3M.
    • Furious 7 drew $6.1M to bring its domestic take to $330.5, and $1.4B on a worldwide basis (fourth-most ever). Paul Blart: Mall Cop 2 (NYSE:SNE) was No. 4 with $5.4M ($51M total), while Home (NASDAQ:DWA) pulled $3.3M to bring its total to $158.1M.
    • Previously: Comcast +2.5% premarket as Q1 beats on top and bottom lines (May. 04 2015)
    | 6 Comments
  • Mon, May 4, 9:20 AM
    • Comcast (NASDAQ:CMCSA) is 2.5% higher premarket after a solid Q1 beat where it nevertheless lost more video subscribers.
    • Adjusted EPS grew 16.2%, and revenue of $17.85B grew 2.5% and was 2.5% better than expectations of $17.4B. EBITDA of $5.96B beat expectations by $167M.
    • Net subscriber adds declined for video customers by 8K, but increased by 407K for high-speed Internet and by 77K for voice. In terms of bundling, single-product customers declined by 10K, while double-product gained by 140K and triple-product increased by 69K.
    • Revenue by segment in Cable communications: Video, $5.33B (up 3%); High-speed Internet, $3.04B (up 10.7%); Voice, $906M (down 1.5%); Business services, $1.11B (up 21.4%); Advertising, $504M (down 0.7%); Other, $531M (up 9.4%).
    • Revenue by segment at NBCUniversal: Cable networks, $2.36B (down 5.9%); Broadcast television, $2.25B (down 14.2%); Filmed entertainment, $1.45B (up 7%); Theme parks, $651M (up 33.7%). Excluding Olympics and Super Bowl, Cable networks revenue gained 4.9% and broadcast TV was up 5.5%.
    • Capex increased 19.2%, to $1.73B in Q1. Free cash flow was still up 12.7% to $3.2B.
    • The company said it would increase buybacks by $2.5B this year. In 2015 it plans $6.75B in repurchases. The company bought back 35.1M shares in Q1, for $2B, and had $8B left in its authorization.
    • Press release
    | 1 Comment
  • Mon, May 4, 6:03 AM
    • Comcast (NASDAQ:CMCSA): Q1 EPS of $0.79 beats by $0.05.
    • Revenue of $17.85B (+2.5% Y/Y) beats by $440M.
    • Press Release
    | 3 Comments
  • Sun, May 3, 5:30 PM
  • Fri, May 1, 9:06 PM
    • Universal Studios (NASDAQ:CMCSA) has settled a class action suit over underpaying home video royalties for $26M, Deadline Hollywood reports.
    • In return for the payments, class members would agree to release claims and agree to accounting revenues based on a 20% royalty going forward.
    • The two-year-old lawsuit claims that 20% home video royalties became the norm in the early 1980s, and that films made before then should still be entitled to royalties from 100% of home video revenues.
    • The suit also names Paramount Pictures (VIA, VIAB); and that action continues.
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  • Thu, Apr. 30, 3:47 PM
    • With Comcast's (CMCSA -1.2%) pursuit of Time Warner Cable (TWC -1.4%) dashed on the rocks, TWC and Charter Communications (NASDAQ:CHTR) have (separately) contacted Bright House Networks in the past week about acquiring them, The Wall Street Journal is reporting.
    • With about 2M subscribers, Bright House is sixth-largest among cable MSOs. Charter had a deal to acquire Bright House a month ago, but that was contingent on the Comcast-TWC combo, so they need to start again during a 30-day "good faith" cycle.
    • Time Warner Cable's interest in adding Bright House could be in making itself much tougher to acquire, and it would likely make the owning Newhouse family the biggest shareholder of the combination. In a deal with Charter, John Malone and Liberty Broadband (NASDAQ:LBRDA) would have the biggest voting stake.
    • Meanwhile, TWC has deep ties to the Newhouse company -- TWC negotiates Bright House's programming and technology deals for a fee, and has right of first offer on the Newhouses' cable systems, the WSJ notes.
    • Previously: TWC misses on earnings, logs best subscriber quarter (Apr. 30 2015)
    • Previously: CNBC: Charter, TWC to discuss merger next week (Apr. 29 2015)
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  • Wed, Apr. 29, 2:31 PM
    • CenturyLink's (CTL -1.3%) plans to get TV franchises in a number of cities and suburbs may bring it into competition with Comcast (CMCSA -0.9%) in one in particular.
    • The Minneapolis city council should have a final vote on giving CenturyLink a TV franchise in May, giving the company a fight with the country's biggest MSO for TV viewers.
    • CenturyLink's location rollout plans are secret, but in order to pursue the franchise it pledged to make its PRISM TV service available to at least 15% of the city within two years.
    • If the deal is approved, the franchise would be for only five years vs. Comcast's 12-year deal, allowing the city to take it up again.
    • CenturyLink recently launched similar service in Denver and it's looking for a franchise in Portland, which could bring it into competition with Google Fiber.
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Company Description
Comcast Corp is a media and technology company. The Company's business segments are: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks.
Sector: Services
Industry: CATV Systems
Country: United States