21st Century Fox, Blackstone to Buy Tribune, DISH Loses Subscribers

Mukesh Buch
01 May, 2017
New York City

21st Century Fox and Blackstone intends to acquire Tribune media. Alexander''''s net slid. Cardinal Health profit fell. DISH revenues dropped and lost TV subscribers. Loews profit soared on improved segment results. Mercury General net jumped.

[R]2:10 PM New York – 21st Century Fox and Blackstone intends to acquire Tribune media. Alexander''s net slid. Cardinal Health profit fell. DISH revenues dropped and lost TV subscribers. Loews profit soared on improved segment results. Mercury General net jumped.[/R]

Tollbooth Index increased 28.02 or 0.2% to 12,059.

Earnings Review

Twenty-First Century Fox Inc ((FOXA)) decreased 26 cents to $30.28 after the media and entertainment services provider and the investment services provider Blackstone Group LP are in talk to buy Tribune Media Co.

Alexander''s, Inc ((ALX)) slumped 2.5% or $11.03 to $423.78 after the real estate developer said revenues in the first-quarter ending in March increased 2.9% from a year ago to $57.2 million.

Net income in the quarter fell 1.4% to $21.7 million or $4.24 per diluted share from $22 million or $4.31 in the same quarter last year.

CNA Financial Corp ((CNA)) gained 36 cents or $45.62 after the insurance services provider reported net written premiums in the first-quarter ending in March fell 2.4% from a year ago to $1.63 billion.

Net income in the quarter jumped 293.9% to $260 million or 96 cents per diluted share from $66 million or 24 cents in the same quarter last year.

Cardinal Health Inc ((CAH)) fell 49 cents to $72.10 after the healthcare services provider reported revenues in the third-quarter ending in March jumped 4% from a year ago to $31.8 billion.

Net income in the quarter slid 1% to $381 million or $1.20 per diluted share from $386 million or $1.17 in the same quarter last year.

DISH Network Corp ((DISH)) increased 29 cents to $64.72 after the pay-TV services provider stated revenues in the first-quarter ending in March slumped 3.9% from a year ago to $3.7 billion.

Net income in the quarter declined 6% to $376 million or 76 cents per diluted share from $400 million or 86 cents in the same quarter last year.

As of March 31, DISH activated approx 547,000 gross new Pay-TV subscribers from 657,000 in the same quarter a year ago.

Net Pay-TV subscribers declined approx 143,000 compared to drop of 23,000 in the same period a year ago.

The satellite TV services provider said pay-TV subscriber in the quarter fell 2.5% to 13.53 million compared to 13.874 million subscribers in a year ago period.

In the first-quarter, Dish lost about 25,000 net broadband subscribers, bringing its subscriber base to approx 555,000.

Loews Corporation ((L)) rose 37 cents to $46.99 after the property and casualty insurance services provider reported total revenues in the first-quarter ending in March jumped 3.1% from a year ago to $3.3 billion.

Net income in the quarter soared 189.2% to $295 million or 87 cents per diluted share from $102 million or 30 cents in the same quarter last year.

Loews said higher income generated by its subsidiary including CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels & Co that were partially offset by lower earnings at Diamond Offshore Drilling, Inc, on depressed market conditions.

Mercury General Corporation ((MCY)) plunged 4.8% or $2.93 to $58.56 after the personal automobile insurance services provider stated net written premiums in the first-quarter ending in March increased 1.7% from a year ago to $811.6 million.

Net income in the quarter jumped 15.7% to $27 million or 49 cents per diluted share from $23.3 million or 42 cents in the same quarter last year.