Mum's the Word at Time Warner
With Dick Parsons on his way out at Time Warner (TWX), AOL continues to be a drag on the media giant as questions surrounding its future swirl.
Time Warner met Wall Street's expectations with its third-quarter earnings report, but its shares edged lower amid a selloff in the broader stock market. The company's cable and film divisions carried results as its beleaguered Web business continued to lag.
After Time Warner finally made it official this week that Parsons, its CEO, will be replaced by President and Chief Operating Officer Jeff Bewkes at the end of the year, investors are sensing that
Bewkes -- billed as the media industry's next Bob Iger, who took over amid turmoil for Michael Eisner at Disney (DIS) -- is keeping his cards close to his vest."We're not going to telegraph our decisions in advance," said Bewkes on the company's post-earnings conference call, as he took questions from analysts about whether Time Warner will spin off the rest of its cable business or even cut AOL loose. "We're aware that the questions are out there, but now is not an appropriate time to discuss it." Parsons, who will remain at Time Warner as the company's chairman after he hands over the CEO reins, predicted double-digit growth in earnings per share for the media conglomerate starting in 2008.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV