Fox plunges after DirecTV deal

[lee635]

"One influential analyst slapped a rare "sell" rating on Fox shares Thursday."

]news (http://cbs.marketwatch.com/news/story.asp?guid=%7B8A40A841-3C39-44B3-9572-F8E4BEEE7441%7D&siteid=google&dist=google)

"It seems many investors have decided to throw in the towel once and for all. By 11:30 a.m. Thursday, shares of Hughes were down 9%, to $10.43. It's by no means unprecedented, but it's awfully rare for shares of an acquiree to fall 25% below the offer price the day after a deal is announced."

[URL=http://www.smartmoney.com/stockcloseup/index.cfm?story=20030410]Smartmoney[/URL

[Jacob S]

That is aweful odd. Did Dish stocks go up that same day?

[mnassour]

There's nothing odd about it. The street hates the deal.

GM walks away with less cash that it could have from Murdoch two years ago and Hughes investors take it in the shorts. Fox Broadcasting gets billions in debt it didn't had before by purchasing a company running DirecTV, which has never made a nickel.

Dish was also down, but slightly.

[lee635]

Well, it's hard to tell from those darned busy-looking charts that all the market websites show you. Instead of a chart, I'd rather just see a table with the closing prices for each day for the time period you're looking for. But I can't seem to find easy info like that.

Anyway, from the chart at CBSMarketwatch, it looks like E* may have been down slightly, say a percent or two. But nowhere near the 25% loss for D* and there were analyst sell ratings for E* either. The market is clearly sour on this deal.

[durl]

Chances are that Fox's stock plunged because most parent company stocks dip when they buy because investors fear that the purchase price will cut in to profit over the short term.

[DarrellP]

Lee635, go to MSN and setup an account under their Money site. It allows you to input a stock and view a graphical chart of it's performance of any time period you desire.

[Cyclone]

Say what you want about Charlie, but he does make a profit.

[lee635]

Originally posted by DarrellP
Lee635, go to MSN and setup an account under their Money site. It allows you to input a stock and view a graphical chart of it's performance of any time period you desire.

No, no, no, that's the problem I don't want a graph. Just give me a table with the closing stock prices for each day and perhaps a second column for the percentage change, NOT A FANCY COLOR GRAPH where I have to place a ruler on my monitor to eyeball the stockprice.

Thanks for the offer of help Darrell.

[Richard King]

Just give me a table with the closing stock prices for each dayHere ya go: http://table.finance.yahoo.com/d?a=0&b=1&c=2003&d=3&e=11&f=2003&g=d&s=gmh Feel free to adjust the dates. :D

[Sherlock]

This article also has a table showing the GM value of the three proposed deals, which is contrary to Rick Wagoner's comments that this is a better deal than the one made 2.5 years ago:
The Last Straw for Hughes Shareholders