ViacomCBS stock (NASDAQ: VIAC) saw an impressive rise of 13% in just the last one week and currently trades near $45 per share. The rise was driven by a multi-year affiliation deal signed with Sinclair last week. This deal comes just a couple of days after the company signed another deal with Disney’s Hulu.
Full Answer
Why did ViacomCBS stock rise 13% in one week?
ViacomCBS stock (NASDAQ: VIAC) saw an impressive rise of 13% in just the last one week and currently trades near $45 per share. The rise was driven by a multi-year affiliation deal signed with Sinclair last week. This deal comes just a couple of days after the company signed another deal with Disney’s Hulu.
Does Viacom own CBS?
It’s worth noting that Viacom’s founder and chairman emeritus, Sumner Redstone, holds a majority 80% stake in CBS through a private company, National Amusements. Viacom has recently been mired in problems.
Is Viacom’s owner Sumner Redstone buying CBS?
It’s worth noting that Viacom’s founder and chairman emeritus, Sumner Redstone, holds a majority 80% stake in CBS through a private company, National Amusements. Viacom has recently been mired in problems. The stock took a nosedive, falling 21.5% after the company announced its fiscal 1Q16 results on February 9, 2016.
Is Viacom’s restructuring program reaping strong results?
Viacom’s (VIAB) restructuring program seems to be reaping strong results. The company’s stock price has risen about 7.3% in the past one month. In contrast, and as you can see in the graph below, The Walt Disney Company (DIS) and 21st Century Fox (FOXA) have risen 1.5% and 3.1%, respectively, over the same month.
Why is ViacomCBS stock going up?
CNBC's Jim Cramer said Wednesday he believes ViacomCBS is an attractive investment right now, citing the media company's dividend payment and improving fundamentals. The stock has jumped in recent weeks, and is up nearly 16% year to date, the “Mad Money” host acknowledged.
Is ViacomCBS a good investment?
What is ViacomCBS worth? The stock seems fairly valued at the moment according to my valuation model. It's trading around 13.91% above my intrinsic value, which means if you buy ViacomCBS today, you'd be paying a relatively reasonable price for it.
Is ViacomCBS a takeover target?
Steven Cahall, Wells Fargo senior equity analyst, joins 'TechCheck' to discuss the outlook for ViacomCBS and the potential for more dealmaking in the streaming space.
Will Viacom stock go back up?
ViacomCBS (NASDAQ:VIAC) shareholders have had an almost indescribable 2021. VIAC stock started off the year with a surge that saw shares shoot up in value 174% by mid-March.
What happened to ViacomCBS?
To put a bow on it all, ViacomCBS will be renamed Paramount Global—after the company's more-than-century-old Hollywood film studio—and its stock ticker will change to “PARA” on Thursday.
Is ViacomCBS a sell?
30, 2021 /PRNewswire/ -- ViacomCBS Inc. (NASDAQ: VIAC, VIACA) today announced it has entered into a definitive agreement to sell CBS Studio Center and its associated operating business to a partnership formed by Hackman Capital Partners, LLC and Square Mile Capital Management, LLC for approximately $1.85 billion .
Is ViacomCBS undervalued?
It's poised to capitalize on streaming trends and is trading well below what we think it's worth. In a sector where undervalued opportunities are few and far between, ViacomCBS (VIAC) stands out, trading 30% below our $61 fair value estimate.
Who bought ViacomCBS?
History1912Paramount Pictures is founded2001Viacom buys BET Networks2006Viacom splits into second CBS Corporation and Viacom2019CBS Corporation and Viacom re-merge to form ViacomCBS2022ViacomCBS changes its name to Paramount Global18 more rows
Who is buying Paramount?
Berkshire HathawayThe billionaire's company, Berkshire Hathaway, disclosed in a securities filing on Monday that it has acquired about $2.6 billion worth of stock in Paramount Global, the owner of CBS, MTV, Nickelodeon, Showtime and Comedy Central, and the operator of the Paramount+ streaming service.
Who is going to buy Viacom?
The latest and greatest chapter in its turbulent history is the 2019 "re-merger" of Viacom and CBS. CBS and Viacom agreed to recombine in an all-stock merger, reassembling the two parts of a historic media empire, with the aim of becoming more competitive in the entertainment industry.
Is VIAC a meme stock?
VIAC shed over half of its value in a single week. The company has had a major share offering, it's been a meme stock, and it was an integral part of the spectacular, $10 billion collapse of Archegos Capital Management.
What is the new stock symbol for ViacomCBS?
PARAThe name change, which makes total sense, is effective today and the company starts trading tomorrow under new stock symbol PARA.
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What happened
Shares of entertainment company ViacomCBS ( PARA -0.74% ), which announced Tuesday evening that it's changing its name to Paramount Global, reported earnings last night. Today, shares of Paramount (the name change has already gone into effect) are down 21.7% as of 11:30 a.m. ET.
So what
Don't think the name change is the reason for the stock selling off. Today's decline is all about the earnings.
NASDAQ: PARA
Last night, Paramount reported pro forma earnings of just $0.26 per share where Wall Street had been hoping to see $0.43 -- a sizable miss. This was despite Paramount's sales coming in well ahead of the expected $7.5 billion, growing 16% to $8 billion, and even earnings arguably being better than they looked.
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What happened
It was a roller-coaster month for ViacomCBS ( PARA 1.76% ), whose shares continued their surge from earlier in the year for the first three weeks of March before tumbling as a major investor was forced to dump his shares to cover losses elsewhere.
So what
For much of March, investors were encouraged by a drumbeat of good news from the entertainment company. Paramount+ successfully launched on March 4, joining the streaming fray at a time when Americans are eager for new home entertainment options, and analysts mostly cheered the pivot to streaming.
Now what
The company priced its secondary offering at $85 on March 24, but it's unclear if it was able to sell the stock at that price as shares were plunging quickly that week and finished the month at just $45.10.
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Trefis is an interactive financial community structured around trends, forecasts and insights related to some of the most popular stocks in the US. Whereas most finance sites simply give you the facts about where a stock has been and what a company has done in the past, Trefis focuses entirely on the future.
