Price Action to Note: Could News Corp See a Reversal After This Very Strong Session?

Price Action to Note: Could News Corp See a Reversal After This Very Strong Session?

The stock of News Corp (NASDAQ:NWSA) is a huge mover today! About 1.36 million shares traded hands. News Corp (NASDAQ:NWSA) has risen 29.21% since February 29, 2016 and is uptrending. It has outperformed by 16.99% the S&P500.
The move comes after 8 months positive chart setup for the $8.37B company. It was reported on Oct, 3 by Barchart.com. We have $22.37 PT which if reached, will make NASDAQ:NWSA worth $4.77 billion more.

Analysts await News Corp (NASDAQ:NWSA) to report earnings on November, 3. They expect $0.04 EPS, down 20.00% or $0.01 from last year’s $0.05 per share. NWSA’s profit will be $23.49 million for 89.06 P/E if the $0.04 EPS becomes a reality. After $0.10 actual EPS reported by News Corp for the previous quarter, Wall Street now forecasts -60.00% negative EPS growth.

News Corp (NASDAQ:NWSA) Ratings Coverage

Out of 4 analysts covering News Corporation (NASDAQ:NWSA), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. News Corporation has been the topic of 6 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Wells Fargo downgraded the shares of NWSA in a report on Monday, November 9 to “Market Perform” rating. On Monday, July 27 the stock rating was upgraded by Macquarie Research to “Outperform”. The rating was downgraded by CLSA to “Outperform” on Monday, May 9.

According to Zacks Investment Research, “News Corp provides media and information services. It focused on creating and distributing authoritative and engaging content to consumers. The company’s business comprises of media which include news and information services, sports programming in Australia, digital real estate services, book publishing, digital education and pay-TV distribution in Australia. It operates primarily in the United States, Australia and the United Kingdom. News Corp is headquartered in New York.”

More notable recent News Corp (NASDAQ:NWSA) news were published by: Thewrap.com which released: “John Elkann Steps Down From News Corp Board – TheWrap” on September 30, 2016, also Businessinsider.com with their article: “NewsCorp just pumped $10 million into ad tech company AppNexus as part of a …” published on September 28, 2016, Wsj.com published: “Former News Corp Executives Accused of Misleading UK Parliament; Company Cleared” on September 14, 2016. More interesting news about News Corp (NASDAQ:NWSA) were released by: Wsj.com and their article: “Univision Names News Corp’s Raju Narisetti as CEO of Former Gawker Media” published on September 21, 2016 as well as Theguardian.com‘s news article titled: “Father furious after daughter labelled ‘Aussie bludger’ by News Corp tabloid” with publication date: September 22, 2016.

NWSA Company Profile

News Corporation, incorporated on December 11, 2012, is a global diversified media and information services firm focused on creating and distributing content to clients and businesses throughout the world. The Company’s activities are organized into five divisions: News and Information Services; Book Publishing; Digital Real Estate Services; Cable Network Programming, and Other. The Firm comprises businesses across a range of media, including news and information services, book publishing, digital real estate services, cable network programming in Australia and pay-television distribution in Australia, that are distributed under brands, including The Wall Street Journal, Dow Jones, The Australian, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia, realestate.com.au, realtor.com and Foxtel, among others. The Firm also owns a stake in Foxtel, a pay-television well-known provider in Australia, which is accounted for as an equity investment. The Firm operates primarily in the United States, Australia and the United Kingdom, and its content is distributed and consumed across the world. The Firm delivers its content to clients across numerous distribution platforms consisting not only of traditional print and television, but also through an array of digital platforms, including Websites, applications for mobile devices and tablets, social media and e-book devices.

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