News Corp has acknowledged receipt of a letter from the activist shareholder group, Starboard Value, but immediately rejected its claims that the company's current control structure—dominated by the Murdoch family via a voting/non-voting share structure—is problematic.
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American home sales hit a 30-year low, delivering bad news for News Corp and its 61% owned Australian US property listings REA Group.
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Fund Manager Chris Pedersen discusses bank reporting, Telstra, News Corp and Mirvac Group.
Read MoreA massive New York property deal has sketched the likely future shape of News Corporation and Fox Corporation, the key companies in the Murdoch family’s media empire.
Read MoreUS market talk has it that Rupert Murdoch is exploring a recombination of Fox Corp and News Corp just over 9 years after he engineered the split in the family empire.
Read MoreNews Corp has reportedly lost its most experienced real estate executive, with Tracey Fellows, the head of Move – the company’s US version of REA Group – set to leave.
Read MoreThe Buy rating and $42.50 target are unchanged.
Read MoreThe broker raises FY22-24 EPS forecasts by 34%, 12% and 11%, respectively, which lifts the price target to $42.5 from $41.50.
Read MoreThe Outperform rating and $40 price target are unchanged.
Read MoreA two-day powwow is planned at Foxtel this week, ostensibly to discuss the company’s strategy moving forward. But the bigger question remains: Will News Corp float it or keep it?
Read MoreRupert Murdoch’s News Corp has announced a $US1 billion program that will include the B Class voting shares, but will sterilise the existing stake of the family in the voting shares.
Read MoreAfter 2020’s jobs purge in Australia, are more cost cuts coming at News Corp globally as the company’s revamp of its back offices and other shared services accelerates?
Read MoreYesterday News Corp revealed a surprise $US750 million) debt raising that will mature in 2030 – when boss Rupert Murdoch will be 99 years of age.
Read MoreAfter years of gloom and doom, suddenly it’s all sunny in the Garden of Murdoch with the past five days seeing three deals announced worth more than a billion Aussie dollars.
Read MoreSecond quarter results were materially ahead of UBS estimates. UBS plans to review its forecasts and retains its Buy rating and $29 target.
Read MoreNews Corp owns 61.6% of the separately listed REA Group ((REA)). Looking at REA’s last share price and News Corp’s B class last share price, UBS estimates REA makes up about 71-79% of News Corp’s market value (versus the peak of 88% on June 22).
Read MoreCredit Suisse observes trends have been improving over the fourth quarter, with better listings at REA Group ((REA)) and data on the US advertising market.
Read MoreThe Murdoch clan’s News Corp is being battered by the impact of the COVID-19 pandemic and measures governments in the US, UK and Australia have adopted to control the virus and limit infections and deaths.
Read MoreUBS updates forecasts to account for the first quarter. First-quarter operating earnings (EBITDA) fell -38% to $221m, well below forecasts. The company highlighted a particularly sluggish Australian economy and property market.
Read MoreNews Corp is reviewing its strategic options for News America Marketing, including a potential sale. Revenue has been under pressure in recent years, declining -6% in FY18. The business provides a range of marketing solutions to advertisers.
Read MoreCredit Suisse expects an increase in operating earnings (EBITDA) when third quarter results are released on May 10. This will be driven by the consolidation of Foxtel.
Read MoreMacquarie assesses the outlook for News Corp ahead of the third quarter result on May 9. A weaker Australian housing market, Brexit and the launch of Kayo by Foxtel are likely to have a negative impact.
Read MoreNews Corp’s Q2 report was better-than-expected, on underlying assessment, with growth at REA Group ((REA)) expected to slow, but Citi analysts consider this a temporary revenue dip only. The Q2 result was heavily dominated by full consolidation of Foxtel, point out the analysts.
Read MoreThe Murdoch family’s News Corp has extended its poison pill defence for another three years. A statement filed with the US Securities and Exchange Commission on Monday night, Sydney time said the defence was due to expire yesterday, June 18, and has now been extended to June 18, 2021.
Read MoreNews Corp is undergoing its most radical change since the split of June 2013 as digital subscriptions in newspaper and from the newly merged Foxtel/Fox Sports business becomes the most important revenue and profit driver, supported by the company’s growing digital real estate operations in Australia and the US.
Read MoreA lot of action around News Corp over night and this morning as the anti takeover poison pill protection was extended for three years, a 10 cents a share semi annual dividend was revealed, job cuts announced at the Wall Street Journal and a change in senior management in Australia.
Read MoreDon’t look at the 6.25% jump in the price of News Corp (NWS) shares in Australia yesterday to a closing price of $A18.08 – look at the performance in the US market where there are far more investors interested in the stock.
Read MoreThe strong result we reported this week from REA Group, 62% owned by News Corp, plus a full three months contribution from Fox Sports Australia, helped turn the December quarter results for Rupert Murdoch’s other company from a nasty slide, into a merely hiccup caused mostly by another poor quarter for the group’s struggling Australian newspapers.
Read MoreIt’s no wonder that News Corp (NWS) were sold off after the company yesterday reported its first ever first quarter trading report as a company separate to the other businesses of the Murdoch empire in 21st Century Fox (which reported last week).
Read MoreRupert Murdoch’s News Corp (NWS) finally produced its 2012-13 results early Saturday morning our time with a quiet filing with the US Securities and Exchange Commission, which will be released to the ASX first thing this morning.
Read MoreNews Corporation is on its way to separating itself into two companies from June 28, with the one centred on Australia to be left behind as the rest of the group grows more rapidly in the growth markets of media content and production.
Read MoreRupert Murdoch’s News Corp saw earnings growth slow to just 6% in the second quarter, according to the company’s latest report this morning.
Read MoreNow we know what Rupert Murdoch plans to do with the billions of dollars in cash sitting on his balance sheet… try and buy back the farm in the shape of a rejected 12 billion pound bid for BSkyB.
Read MoreNews Corp’s third quarter results were boosted by Avatar and another strong showing by the group’s cable business, but investors were not all that impressed.
Read MoreBuried in the News Corp second quarter and first half result was yet another surprise. A higher dividend.
Read MoreRupert Murdoch mumbled a few words about how things seem to be changing for the better and up surges the News Corp share price, as investors forgot what a rotten track record Mr Murdoch has in forecasting.
Read MoreTough times continue for some of the world’s biggest media companies.
Read MoreNews Corporation (NWS) posted strong growth in operating income today, largely on the back of the success of The Simpsons Movie. Compared with the same period last year, operating income grew 23% in the three months to 30 September, on revenue growth of 19%. With operating earnings growing faster than revenues, profit margins widened.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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