Goldman Is Watching CBS, But Not Fox (CBS)
Goldman Sachs is positive on CBS Corporation (NYSE: CBS), as it had the three top premieres of the new TV season. It is particularly bearish on Fox (NYSE: NWS), which has already canceled 'Lone Star' due to poor ratings.
In the research note, Goldman Sachs writes, "CBS won the first week of the new broadcast season with a 3.3 rating in A18-49 (+3% yoy), driven by solid performance from its sitcoms and new shows. CBS had the top 3 series premieres last with the $#*! My Dad Says, Mike and Molly, and Hawaii Five-0."
Goldman goes on to say, "FOX finished the week in last place, driven by the underperformance of shows including House (-37% yoy) and weakness in its comedy lineup. Animated comedies such as Family Guy (-15%), The Simpsons (-14%), and The Cleveland Show (-37%) were weaker. After just two episodes on air, Lone Star has been cancelled due to poor ratings. The drama recently fell to a 1.0 rating from 1.3 the previous week."
Shares of CBS gained 13 cents yesterday to close at $16.03, a gain of 0.8%.
