The Week Ahead: Media Firms Undervalued Ahead of Earnings
Discovery, Disney, News Corp, and 21st Century Fox are trading below their fair value estimates over fears about cord-cutting. Plus, retail sales and job openings data is on tap.
Jeremy Glaser: Welcome to The Week Ahead. The pace of earnings will slow down this week after last week's deluge. Media firms Discovery, Disney, News Corp, and 21st Century Fox will report on Tuesday and Wednesday. We see all four firms as trading below their fair value estimates today, as we think the market is too pessimistic about the impact of cord-cutters.
Snap will release its first results as a publicly traded company on Wednesday. On Thursday, Macy's and Nordstrom report. Traditional brick-and-mortar retailers have been under tremendous pressure from e-commerce and other forces recently. The market will be looking for signs that the firms' strategies for navigating this environment are having an impact.
Jeremy Glaser has a position in the following securities mentioned above: DIS. Find out about Morningstar’s editorial policies.
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