Guggenheim Securities analyst Michael Morris said that media stocks are set to outperform in the coming weeks, citing 'multiple positive milestones,' including the return of live sports and 'improving advertiser sentiment.' Details:
Guggenheim Securities' Michael Morris mentions the return of live sports,"improving advertiser sentiment, re-opening of small- and medium-sized businesses that subscribe to channel bundles" and other catalysts.
On May 20, Morris had expressed "concern that a stubborn investor focus on secular media headwinds under-appreciated the potential for cyclical-trend driven share appreciation in the near term." In his Monday report, he acknowledged that the media stocks he covers have since then outperformed the broader market.
Morris emphasized that the return of live sports to TV "appears to be well on track," mentioning the NBA's plan to resume games on July 31 and the NHL's expectation to have teams return to training camps in July. Addressing the NFL season, he wrote: "As yet, no delays have been announced.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fox News apologizes for on-air graphic showing market reaction to violence against black menThe graph showed positive stock market changes after Martin Luther King Jr.'s assassination and the police killings of Michael Brown and George Floyd.
Read more »
Brent crude will need to work through oversupply issues despite the OPEC+ output cut, says analystBrent crude still needs to work through its oversupply issues before it can break above its current price range of between $40 and $50 per barrel, said Westwood Global Energy Group's Thom Payne.
Read more »
Why 2020 is a lot similar to — and a lot different than —1968The year 2020 mirrors the scene in 1968, a past which some analysts say serves as a prologue for the current moment.
Read more »
Zuckerberg-funded scientists: Rein in Trump on FacebookDozens of scientists doing research funded by Mark Zuckerberg have written him a letter saying Facebook should not allow President Trump to use the social media platform to “spread both misinformation and incendiary statements.”
Read more »
No new positives in Premier League COVID-19 testsThe latest round of tests for COVID-19 in the Premier League produced no positives, the league said on Saturday.
Read more »
Mayer positive for COVID-19, will miss Tuesday's fightBoxer Mikaela Mayer tested positive for the coronavirus and will miss her scheduled junior lightweight bout on Tuesday against Helen Joseph.
Read more »