The Zacks Analyst Blog Highlights:CincinnatiFinancial, DISH Network, News Corp., Walt Disney and CBS Corp.

  The Zacks Analyst Blog Highlights:CincinnatiFinancial, DISH Network, News
                       Corp., Walt Disney and CBS Corp.

PR Newswire

CHICAGO, Feb. 25, 2013

CHICAGO, Feb. 25, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Cincinnati Financial Corp.
(Nasdaq: CINF), DISH Network Corporation (Nasdaq: DISH), News Corp. (Nasdaq:
NWSA), Walt Disney Co. (NYSE: DIS) and CBS Corporation (NYSE: CBS ).

(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)

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Here are highlights from Friday's Analyst Blog:

Cincinnati Financial Upgraded to Outperform

On Feb 21, 2013, we upgraded our recommendation on Cincinnati Financial Corp.
(Nasdaq:CINF) to Outperform from Neutral following its better-than-expected
fourth quarter earnings, which included a 122.0% positive earnings surprise.
This property and casualty insurer carries a Zacks Rank #1 (Strong Buy).

Why the Upgrade?

Cincinnati Financial's fourth quarter results reflected a steadily growing
benefit of initiatives designed to improve insurance profitability, drive
premium growth overtime and create shareholder value.

Cincinnati Financial grew premium in each of its property casualty segments.
Consolidated net written premiums for the fourth quarter rose by 10%, led by
higher overall pricing.

The company reported an improvement in combined ratio in all three of its
property casualty segments.

The company is also continuing to appoint agencies, which is one of its
strategic goals for 2013. The increase in agency count is expected to bring in
premium growth.

Cincinnati Financial also boasts of a strong balance sheet with low reliance
on debt witnessed by a debt to capital ratio of less than 14.1% as of Dec 31,
2012. Moreover, its consistent cash flows and prudent cash balances continue
to create strong liquidity. The company is also a favorite among investors
because it has fulfilled a commitment of increased dividend payment every year
for the past 52 years.

DISH Again Charged by Fox

DISH Network Corporation's (Nasdaq:DISH) popular hopper device again came
under huge criticism as News Corp. (Nasdaq:NWSA) owned Fox network appealed
before the federal court in Los Angeles to stop the former to offer PrimeTime
Anytime service facilities like live and recorded TV shows on smartphones and
tablets to its customers via second-generation Hopper set top box.

It all began in May last year, when DISH Network launched a new technology
called Auto Hop, which allows users to skip commercials at the time of
watching recorded TV-shows. Introduction of such technology has created a lot
of tension among major TV broadcasters like Walt Disney Co.'s (NYSE:DIS) ABC,
CBS Corporation (NYSE:CBS) Fox network and NBC Universal.

The broadcast networks claim that the new feature not only violates copyright
laws but also significantly jeopardizes their advertisement revenue. The end
result was that all the four major TV network companies filed a lawsuit
against DISH Network.

However, DISH Network believes that it has not infringed any copyright law as
the new service is similar to the DVR service, which provides flexible viewing
of TV shows at their own preferred time. Moreover, skipping of advertisement
is possible only during recorded programs and not at the time of live
broadcast of the show, hence the technology does not violate any contract
agreement with the broadcasters and also sued these firms.

Despite huge criticism from broadcasters, the auto-hop device received huge
mass appeal and the federal court judge has not issued any stay order on DISH
Network's popular device. Moreover, the launch of such devices has helped the
company to reduce its monthly subscriber churn rate from 1.63% in 2011 to
1.57% in 2012 and also drives its ARPU to $77.10 in 2012 from $76.45 in 2011.

So, it is to be seen how the federal court deals with the fresh appeal from
Fox network.

DISH Network currently has a Zacks Rank #3 (Hold).

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