Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

JP Morgan Cuts ValueVision Media


JP Morgan cut its rating on ValueVision Media (VVTV) to neutral from overweight.

Analyst Bart Crockett said that the company forecast third quarter revenue as likely to grow only 5% with earnings before interest taxes depreciation and amortization loss totaling $5 million, vs. his previous estimates of 15.5% revenue growth, and earnings before interest taxes depreciation and amortization profit of $386,000. The analyst says the company blames weakening consumer sentiment and high gas prices for its disappointing September after a reasonable August. He thinks the lack of sustainable profits will limit upside in the shares, with takeover potential limiting downside. He widened his 33 cents fiscal year 2006 (ending Jan) loss estimate to a 56 cents loss, and cuts his 17 cents fiscal year 2007 earnings per share to 9 cents earnings per share. He also cuts his $687 million fiscal year 2006 revenue estimate to $671 million, and $747 million fiscal year 2007 to $727 million.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus