NEW YORK (TheStreet) -- Shares of Time Warner  (TWX) are higher by 1.51% to $85.36 in late afternoon trading Monday, following the company's agreement with Cablevision (CVC) .

Time Warner's operating subsidiary Home Box Office, or HBO,will offer its new standalone streaming service called HBO NOW to Cablevision's Optimum Online customers via the Internet.

Optimum is the first cable provider to partner with HBO to offer HBO NOW, which is expected to debut in April.

Cablevision plans to provide pricing and other details for HBO NOW in the coming weeks. Terms of the agreement were not disclosed.

Last week, Time Warner announced an agreement with Apple (AAPL) - Get Report. HBO NOW will be available on Apple TV and other Apple devices without a cable or satellite subscription starting next month.

New York City-based Time Warner is a media and entertainment company that operates in three reporting segments including networks, film and TV entertainment, and publishing.

Separately, TheStreet Ratings team rates TIME WARNER INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate TIME WARNER INC (TWX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The debt-to-equity ratio is somewhat low, currently at 0.92, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.12, which illustrates the ability to avoid short-term cash problems.
• The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Media industry and the overall market, TIME WARNER INC's return on equity exceeds that of both the industry average and the S&P 500.
• Compared to its closing price of one year ago, TWX's share price has jumped by 31.07%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, TWX should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
• TIME WARNER INC's earnings per share declined by 16.8% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, TIME WARNER INC increased its bottom line by earning $4.39 versus $3.56 in the prior year. This year, the market expects an improvement in earnings ($4.65 versus $4.39).
• You can view the full analysis from the report here: TWX Ratings Report