ViacomCBS (VIAC) PT Lowered to $40 at Guggenheim

UPDATE: BofA Securities Downgrades ViacomCBS (VIAC) to Neutral

February 16, 2022 6:06 AM EST

(Updated - February 16, 2022 8:23 AM EST)

BofA Securities analyst Jessica Reif Ehrlich downgraded ViacomCBS (NASDAQ: VIAC) from Buy to Neutral with a price target of $39.00 (from $53.00).

The analyst comments "Following the companys 4Q results and streaming analyst event, we are downgrading VIAC (to be renamed Paramount) to Neutral and lowering our PO to $39 (from $53).... More

ViacomCBS (VIACA) Rebrands to Paramount Global

February 16, 2022 5:57 AM EST

ViacomCBS (NASDAQ: VIACA) today announced that the global media company will become Paramount Global (referred to as "Paramount"), effective February 16, bringing together its leading portfolio of premium entertainment properties under a new parent company name.

"Paramount is an idea: A promise to be the best," said Shari Redstone, Non-Executive Chair of the company's Board of Directors. "That promise has always been at the center of what we aspired to build as the steward of more than a century of cinematic excellence, and with businesses and brands that have defined and redefined entertainment for... More

UPDATE: ViacomCBS (VIAC) PT Lowered to $38 at Credit Suisse

February 16, 2022 4:18 AM EST

(Updated - February 16, 2022 4:19 AM EST)

Credit Suisse analyst Douglas Mitchelson lowered the price target on ViacomCBS (NASDAQ: VIAC) to $38.00 (from $42.00) while maintaining a Neutral rating.

The analyst comments "Mgmt held an analyst day walking through their upcoming streaming content, updated strategy and investment... More

After-Hours Stock Movers 02/15: (HOOK) (UPST) (AYX) Higher; (RBLX) (TOST) (VIAC) Lower (more...)

February 15, 2022 5:51 PM EST

After-Hours Stock Movers:

HOOKIPA Pharma Inc. (NASDAQ: HOOK) 53.7% HIGHER; entered into an amended and restated collaboration and license agreement with Gilead to advance the development of a novel arenaviral immunotherapy as a component of a potential functional curative regimen for human immunodeficiency virus (HIV).

Upstart Holdings (NASDAQ: UPST) 21.9% HIGHER; reported Q4 EPS of $0.89, $0.38 better than the analyst estimate of $0.51. Revenue for the quarter came in at $304.8 million versus the... More

ViacomCBS (VIAC) Shares Down 4% on Q4 EPS Miss; Reports Record Subscriber Additions; Changes Name to Paramount

February 15, 2022 5:44 PM EST

ViacomCBS (NASDAQ: VIACA) (NASDAQ: VIAC) shares were trading more than 4% lower after-hours following the companys Q4 earnings miss, with EPS coming in at $0.26, worse than the consensus estimate of $0.43.

Revenue grew 16% year-over-year to $8 billion, above the consensus estimate of... More

Exclusive-ViacomCBS's Paramount+ 'thinks local' to go global with streaming

February 15, 2022 5:12 PM EST

By Helen Coster

(Reuters) - When the reality series The Challenge: War of the Worlds launches on four continents in June, ViacomCBS Inc aims to test a key component of its streaming strategy - using localized content on broadcast TV to attract subscribers to its Paramount+ streaming service, an executive with the entertainment conglomerate told Reuters.

The media giant is launching four versions of the show and airing them on its broadcast TV networks in the United States, Australia, the United Kingdom and Argentina, and streaming episodes on Paramount+ globally the following day, Chris McCarthy, chief content officer for... More

ViacomCBS changes name to Paramount to boost streaming future

February 15, 2022 4:13 PM EST

By Helen Coster

NEW YORK (Reuters) -ViacomCBS Inc missed Wall Street profit forecasts on Tuesday as the company announced it will change its name to Paramount and unveiled a broad range of new programming in the battle for viewers in the crowded streaming market.

Shares of the media conglomerate that owns CBS, Showtime, Comedy Central, MTV and other networks, which initially fell 3%, slipped to a 6% loss as the company's two-hour presentation of its streaming strategy continued after the markets closed.

ViacomCBS reported adjusted earnings per share of 26 cents for October through December, below analyst projections of 43 cents.... More

ViacomCBS (VIACA) Misses Q3 EPS by 17c, Revenue Beats

February 15, 2022 4:02 PM EST

ViacomCBS (NASDAQ: VIACA) (NASDAQ: VIAC) reported Q3 EPS of $0.26, $0.17 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $8 billion versus the consensus estimate of $7.51 billion.

For earnings history and earnings-related data on ViacomCBS (VIACA) click here.

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