NWS and foxnews
- Thread starter lassic
- Start date
it will recover $15 soon
i don't know why i'm following NWS, i never have in the past
morbid curiosity? a fall of hubris? who knows
http://biz.yahoo.com/zacks/081106/15752.html?.v=1
Zacks.com
News Corp Provides Gloomy Outlook
Thursday November 6, 3:15 pm ET
By Aditi Samajpati
News Corp (NWS) shares fell more than 18% a day after the media company run by Rupert Murdoch reported a decline in quarterly profit and cut its 2009 guidance. While the markets had expected the company's geographical diversification to offset the economic downturn at home, a stronger dollar reduced�its leverage from non-U.S. operations.
In the first quarter, net income fell 30% to $515 million, or 20 cents a share, on lower advertising revenue and investment losses. Fox TV network was hit by the double whammy of automakers' cut in ad spending and NBC's Beijing Olympics coverage, which took away viewership. News Corp also recorded a loss from the writedown of its holding in German pay-TV operator Premiere AG.
Murdoch said in a call with analysts that fiscal 2009 was expected to be very challenging for the media sector. The company now expects full-year profit to drop in the low-to-mid teens, compared with an earlier projection of a gain of 4% to 6%. As News Corp saw the difficulties in its operating environment persisting in the near future, the stock took a beating to trade at $8.18 at late midday. Shares have shed more than 60% of their value so far this year.
morbid curiosity? a fall of hubris? who knows
http://biz.yahoo.com/zacks/081106/15752.html?.v=1
Zacks.com
News Corp Provides Gloomy Outlook
Thursday November 6, 3:15 pm ET
By Aditi Samajpati
News Corp (NWS) shares fell more than 18% a day after the media company run by Rupert Murdoch reported a decline in quarterly profit and cut its 2009 guidance. While the markets had expected the company's geographical diversification to offset the economic downturn at home, a stronger dollar reduced�its leverage from non-U.S. operations.
In the first quarter, net income fell 30% to $515 million, or 20 cents a share, on lower advertising revenue and investment losses. Fox TV network was hit by the double whammy of automakers' cut in ad spending and NBC's Beijing Olympics coverage, which took away viewership. News Corp also recorded a loss from the writedown of its holding in German pay-TV operator Premiere AG.
Murdoch said in a call with analysts that fiscal 2009 was expected to be very challenging for the media sector. The company now expects full-year profit to drop in the low-to-mid teens, compared with an earlier projection of a gain of 4% to 6%. As News Corp saw the difficulties in its operating environment persisting in the near future, the stock took a beating to trade at $8.18 at late midday. Shares have shed more than 60% of their value so far this year.