According to a statement by Comcast Corp on Friday, it will keep offering Twenty First Century Foxs Big Ten Network, including all the games featured on Foxs FS1 channel.
Comcast shares closed higher for the second time in the past six trading sessions on NASDAQ on Friday. It has also been the sharpest daily surge since July 26th. The stock went up 3.37% ($1.19) to $36.50, after touching an intraday high at $36.79, or a price level not seen since March 13th ($37.11).
Shares of Comcast Corp have retreated 8.86% so far in 2018 compared with a 7.52% gain for the underlying index, S&P 500 (SPX).
In 2017, Comcast’s stock surged 16.02%, thus, it again underperformed the S&P 500, which registered a 19.42% return.
The Big Ten Network will still be offered in Indiana, Michigan, Illinois, Maryland, New Jersey, Pennsylvania, Minnesota, Wisconsin and Ohio.
As part of the agreement, Comcasts clients located outside the Big Ten states will be able to access the Big Ten Network through Comcast’s sports and entertainment package during the upcoming months.
The Big Ten Network, which represents a joint venture between Twenty First Century Fox and the Big Ten Conference, features college sports, while its subscriber base amounts to approximately 60 million users in the United States and Canada.
According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Comcast Corporation’s stock price, have a median target of $42.00, with a high estimate of $55.00 and a low estimate of $36.00. The median estimate represents a 15.07% upside compared to the closing price of $36.50 on August 24th.
The same media also reported that 15 out of 23 surveyed investment analysts had rated Comcast Corporation’s stock as “Buy”, while 4 – as “Hold”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Comcast stock are presented as follows:
R1 – $36.63
R2 – $36.77
R3 (Range Resistance – Sell) – $36.90
R4 (Long Breakout) – $37.31
R5 (Breakout Target 1) – $37.78
R6 (Breakout Target 2) – $38.02
S1 – $36.37
S2 – $36.23
S3 (Range Support – Buy) – $36.10
S4 (Short Breakout) – $35.69
S5 (Breakout Target 1) – $35.22
S6 (Breakout Target 2) – $34.98
By using the traditional method of calculation, the weekly levels of importance for Comcast Corporation (CMCSA) are presented as follows:
Central Pivot Point – $36.18
R1 – $37.11
R2 – $37.71
R3 – $38.64
R4 – $39.56
S1 – $35.58
S2 – $34.65
S3 – $34.05
S4 – $33.44