Viacom

GoldCore's picture

Gold Bullion Holds Its Own As Media Stocks Collapse





That hasn’t stopped many gold bears from using this as an opportunity to disparage gold. A recent article points out that the gold rout has cost China and Russia $5.4 billion. An amount that would sound colossal were it not for the fact that U.S. media companies such as Disney and Viacom collectively lost over $60 billion for shareholders in as little as two days last week ...

 
Tyler Durden's picture

Flushing Cash Into The Casino - The Media Stock Swoon Shows That It Works Until It Doesn't





During the most recent quarter debt issuance by US companies reached an all-time high, raising a question as to why companies still need to borrow so much after selling $7 trillion of U.S. debt securities since 2008. This weeks S&P Media index swoon leaves no doubt as to the answer. Companies have not been borrowing to grow; they have been borrowing in order to flush cash into the casino. Charles Ponzi once had a scheme that was not essentially different. Yes, and it worked until it didn’t.

 
Tyler Durden's picture

"It's Nuts!" Hedgies Hammered Amid Media Massacre





“People are shooting first and asking questions later...this indiscriminate selling, to me, is just nuts," exclaims on billion-dollar AUM hedge fund CIO as media stocks faced a bloodbath this week. Small (illiquid) doors and large crowds do not mix well as Bloomberg reports, hedge funds own an average 9.7% of the 15 companies in the S&P Media Index - which has tumbled over 8% in 2 days - its biggest loss since 2008. Exuberant return chasing on merger speculation has reversed into panic-selling as Disney, Time Warner Inc., Fox, CBS and Comcast Corp. erased almost $50 billion of value in two days.

 
Tyler Durden's picture

With All Eyes On Payrolls US Futures Tread Water; China Rises As Copper Crashes To New 6 Year Low





Here comes today's main event, the July non-farm payrolls - once again the "most important ever" as the number will cement whether the Fed hikes this year or punts once again to the next year, and which consensus expects to print +225K although the whisper range is very wide: based on this week's ADP report, NFP may easily slide under 200K, while if using the non-mfg PMI as an indicator, a 300K+ print is in the cards. At the end of the day, it will be all in the hands of the BLS' Arima X 12 seasonal adjusters, and whatever goalseeked print the labor department has been strongly urged is the right one.

 
Tyler Durden's picture

The Biggest Losers From Today's Rout





It is unclear what catalyzed today's dump. Futures were briefly green at the open, then as if all hell broke loose and without an explicit  catalyst (although the technical collapse of numerous "story stocks" which had been market leaders for months, both today and in recent weeks has not helped) the E-mini, and individual stocks, just took out level after level of bids and at last check the Dow has dropped to 6 month lows, the S&P is just barely green for the year, while the biggest pain is in the Nasdaq which has dropped as much as 2% intraday. Below we lay out the biggest losers from today's market drop.

 
Tyler Durden's picture

Frontrunning: July 9





  • Only update software on down days: NYSE, SEC Suspect Software Update Triggered Trading Halt (BBG)
  • Trade halts add to China’s Potemkin market problem (Reuters)
  • Why Beijing’s Efforts Have Failed to Tame China’s Stock Market (WSJ)
  • Irrational Exuberance Triggers Chaos as China Watchdog Sidelined (BBG)
  • China bounce ends five-day losing streak for stocks (Reuters)
  • Fear Grows in Greece as Decisive Hour Nears (WSJ)
  • Once Swarming with Greek Visitors, a Bulgarian Town Reels as Business Languishes (WSJ)
  • Greece Shuts Markets Through July 13 as Officials Debate Bailout (BBG)
  • Germany calls for European defence sector consolidation (Reuters)
 
Tyler Durden's picture

After Viacom's "Shocker", These Companies Are Most At Risk Of Early Terminating Their Stock Buyback Programs





Yesterday afternoon Viacom revealed that as part of its "Strategic Realignment to Create Efficiencies and Drive Long-Term Growth" it would do something which the market loathes: it would stop its buybacks. Specifically it said that "Viacom will temporarily pause share purchases under its current $20 billion stock repurchase program in order to stay within its target leverage ratio." What Viacom meant was that just like IBM, its net debt ratio had likewise soared in the past several years, and had reached a level where the Baa2/BBB-rated company was on the verge of being cut to junk status. So is Viacom a harbinger for the broader market, a market which as we reported previously only, had a tremendous month of February only because of a record $100 billion in announced stock buybacks? The answer: a resounding yes.

 
Tyler Durden's picture

Frontrunning: April 7





  • Israel, U.S. Lawmakers Press Case Against Iran Nuclear Deal  (WSJ)
  • Rand Paul tries to broaden libertarian appeal (Reuters)
  • Fewer Oil Trains Ply America’s Rails (WSJ)
  • Chicago voters go to polls in first ever mayoral runoff (Reuters)
  • FedEx to buy TNT to expand Europe deliveries (Reuters)
  • Mohamed El-Erian Has Most of His Money in Cash (BBG)
  • In Surprise Move, Australia Holds Rates (WSJ)
  • Oil falls as Iran, China discuss more supply (Reuters)
 
Tyler Durden's picture

Frontrunning: March 18





  • Hilsenrath: Fed to Markets: No More Promises (WSJ)
  • Fed set to ditch 'patient' rate vow as it eyes U.S., world growth (Reuters)
  • Fannie, Freddie could need another bailout (Reuters)
  • Alibaba Stock-Sale Lockup Is Ending (WSJ)
  • Netanyahu Sweeps Aside Herzog’s Challenge to Win Israel Vote (BBG)
  • Oil Bonds Lose Investors $7 Billion in 10 Days (BBG)
  • There’s a mysterious $1.1 trillion in spending cuts in the House GOP’s budget (WaPo)
  • ECB's Celebration of Its New $1.4 Billion Tower Is Spoiled by Protesters (BBG)
 
Tyler Durden's picture

Frontrunning: March 5





  • China Lowers Growth Target to About 7% (WSJ)
  • Obesity Is Hurting the U.S. Economy in Surprising Ways (BBG)
  • Embattled Hillary Clinton urges State Department to release emails (Reuters)
  • Washington Strips New York Fed’s Power (WSJ)
  • U.S. Supreme Court split over Obamacare challenge (Reuters)
  • Citigroup Loses $800 Million as It Exits Turkey’s Akbank (BBG)
  • Justice Who Once Tried to Kill Obamacare Now Potential Savior (BBG)
  • Buyers of Espírito Santo Debt Face Financial Uncertainty (WSJ)
 
Tyler Durden's picture

Frontrunning: February 6





  • RadioShack files for bankruptcy; Sprint to take over some stores (Reuters)
  • Kansas To Issue Bonds and Invest Proceeds to Boost Pension Returns (WSJ)
  • Merkel to Make Last Push With Putin as Pessimism Prevails (BBG)
  • Islamic State in Syria seen under strain but far from collapse (Reuters)
  • Texas Swagger Fades Fast as Oil Town Squeezed Hard by OPEC (BBG)
  • SEC probes Blackberry options trading ahead of Reuters report about Samsung talks (Reuters)
  • Spanish Bonds Underperform Italy’s as Podemos Gains Popularity (BBG)
  • Steelworkers Union Rejects Offer From Refiners (WSJ)
  • Brazil January Inflation at Fastest Pace in Nearly 12 Years (BBG)
 
Tyler Durden's picture

Frontrunning: January 26





  • Alexis Tsipras: the Syriza leader about to take charge in Greece (Guardian)
  • Tsipras to form anti-bailout Greek government after big victory (Reuters)
  • Tsipras Forges Anti-Austerity Coalition in EU Challenge (BBG)
  • East Coast braces, flights canceled as 'historic' blizzard bears down (Reuters)
  • Rebels press Ukraine offensive, Obama promises steps against Russian-backed 'aggression (Reuters)
  • Syriza Victory Brings Hope for Immigrants of EU Access (BBG)
  • For Saudis, Falling Demand for Oil Is the Biggest Concern (BBG)
  • Oil prices fall on market relief over Saudi policy (Reuters)
 
Tyler Durden's picture

Frontrunning: January 22





  • ECB to decide on bond-buying plan to revive euro zone (Reuters)
  • Draghi Is Pushing Boundaries of Euro Region with QE Program (BBG)
  • Investors Wonder Whether ECB Will Do Enough (WSJ)
  • Treasuries Drop With Bunds Before ECB; U.S. Futures Rise (BBG)
  • European shares hit seven-year high (Reuters)
  • At least eight civilians killed in shelling of Ukrainian trolleybus (Reuters), both sides blame each other
  • OPEC Will Blink First in Battle With Shale Drillers, Poll Shows (BBG)
  • China Injects $8 Billion Into Banking System (WSJ)
  • New York says Barclays not cooperating in 'dark pool' probe (Reuters)
 
Tyler Durden's picture

Frontrunning: January 20





  • Obama to focus on middle class in State of Union address (Reuters) - all 4 of them?
  • European Stocks Buoyed by ECB Hopes (WSJ)
  • China's 2014 economic growth misses target, hits 24-year low (Reuters)
  • Federer on Swiss Franc Shock: "Does It Mean I've Got to Win Now?" (BBG)
  • First-time buyers help Christie’s reach record sales (FT)
  • So it was the NSA? U.S. Spies Tapped North Korean Computers Prior to Sony Hack (BBG)
  • Why Chinese Developer Kaisa's Default Risk Has Money Managers Spooked (BBG)
  • Morgan Stanley Misses Estimates on Drop in Bond-Trading Revenue (BBG)
 
Tyler Durden's picture

Frontrunning: January 14





  • U.S. Index Futures Decline on Commodities Slump, Growth Concerns (BBG)
  • Al Qaeda claims French attack, derides Paris rally (Reuters)
  • Charlie Hebdo With Muhammad Cover on Sale With Heavy Security Precautions (BBG)
  • How an Obscure Tax Loophole Brought Down Obama's Treasury Nominee  (BBG)
  • ECB’s bond plan is legal ‘in principle’ (FT)
  • Charlie Hebdo fallout: Specter of fascist past haunts European nationalism (Reuters)
  • DRW to acquire smaller rival Chopper Trading (FT)
  • Oil fall could lead to capex collapse: DoubleLine's Gundlach (Reuters)
 
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