Twitter (TWTR) Stock Advancing on New Live Streaming Deal
NEW YORK (TheStreet) -- Shares of Twitter (TWTR) - Get Report are up 1.24% to $17.96 in early-afternoon trading as the company announced it would be the premier streaming partner for Pac-12 Plus.
Pac-12 Plus is a broadband network of live events produced by the Pac-12 Network's 12 universities. Twitter will live stream at least 150 games for the 2016-2017 academic year.
"Twitter is the fastest way to find out what is happening in live sports," Anthony Noto, Twitter's chief financial officer, said. "Our partnership with the Pac-12 Networks will give sports fans a great way to view live sporting events along with the live Twitter conversation they are already accustomed to."
This is the San Francisco-based social networking company's third live streaming deal made this week, including Tuesday's deal with Bloomberg Media to live-stream several Bloomberg TV programs and Monday's deal with CBS to stream the Republican and Democratic conventions.
The final comprehensive list of Pac-12 Network events to be live-streamed on Twitter is still being finalized, but will include several Olympic sports.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate TWITTER INC as a Sell with a ratings score of D. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: TWTR
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