$FOXA

Midday movers included Cisco (shares down 2% after HSBC cut its rating to Hold and price target to $120), Applied Materials (down 5% after Q2 adjusted EPS $3.50 on $9.12B revenue), Reddit (up 12% on S&P 500 inclusion Aug. 18), and Sandisk (up 6% after JPMorgan upgraded to Overweight). Other moves cited upgrades, tariffs, and guidance changes.

Jim Cramer’s newsletter lists market drivers and stock-specific catalysts for Aug. 14. Applied Materials fell nearly 6% after earnings and guidance. Sandisk rose after a bullish JPMorgan view. Reddit jumped on S&P 500 inclusion. Workday surged on reported Silver Lake talks. RBC raised targets for Palo Alto Networks and CrowdStrike. Other items include Capital One, T-Mobile, Wayfair, and Fox upgrades/downgrades.

J.P. Morgan and Wells Fargo upgraded Fox Corp. to Overweight from Neutral and raised price targets to $82 and $80. Both cited improved earnings visibility from TV and Tubi, higher EBITDA forecasts, and upside from the 2026 FIFA World Cup and political ads. J.P. Morgan expects Roku/Tubi to create a larger free ad-supported streaming operator; Wells Fargo estimates about $300 million ad synergies in two years.

Analyst notes on Friday included KeyBanc reiterating Apple as underweight, citing iPhone 17 carrier survey data slightly positive but with iPhone 18 price uncertainty. Bernstein upgraded Wayfair to Outperform, raising its PT to $125. Morgan Stanley reiterated Nvidia as overweight. Other calls covered Fox, Intuitive Machines, Cinemark, SanDisk, Energy Fuels, Digital Realty, SpaceX, Dell, Micron, and T-Mobile.

Premarket movers included Reddit, up 12% after S&P Dow Jones Indices said it will join the S&P 500 on Aug. 18. Applied Materials fell over 5% after Q2 results: adjusted $3.50 EPS on $9.12B revenue, with $7.04B from semiconductor systems. Wayfair rose 4% on a Bernstein upgrade. Workday gained ~2% after Reuters reported Silver Lake talks. Fox rose 2% on JPMorgan and Wells Fargo upgrades tied to Roku acquisition for $22B. Sandisk climbed 5% on a JPMorgan upgrade to overweight.

Fox Corp. was upgraded to Overweight from Neutral by J.P. Morgan and Wells Fargo, citing stronger earnings prospects, robust advertising trends, and its planned Roku acquisition. J.P. Morgan raised its $82 target and fiscal 2027-28 adjusted EBITDA estimates after Q4 results. Q4 TV revenue rose 45% to $2.48B and Tubi revenue grew 35%.

Fox Corp Class A shares (FOXA) rose 4.1% pre-open to $68.14 after JPMorgan upgraded the stock to Overweight from Neutral and raised its price target to $82 from $70. JPMorgan cited Fox’s strong fundamentals, expected benefits from its pending Roku acquisition, and factors including FIFA World Cup ad economics and improving distribution revenue. The upgrade followed Fox’s fiscal Q4 beat.

Red Seat Ventures (RSV), a Fox Corporation creator-led media company, said its Speakeasy platform now supports HLS video on Apple Podcasts. Jubilee Media’s “Surrounded” is the first show to launch, with more RSV shows expected. HLS enables adaptive streaming, offline downloads, and real-time video ad insertion. Apple does not charge hosting providers or creators.

The article says media companies are shifting from the early streaming wars toward different growth strategies, citing Disney, Warner Bros. Discovery, Fox, Versant, and News Corp. It highlights Scripps eliminating 432 positions and 126 open roles, targeting $100 million in annualized savings via AI and automation. It also notes News Corp’s AI partnerships with OpenAI and Meta and legal actions over content use.

Semafor reports U.S. DOJ staff are close to approving Paramount’s merger with Warner Bros. Discovery, with a Q3 close expected. The deal has about $110B enterprise value, targets $6B cost reductions, and includes a $7B termination fee. NYT says Fox will pay under $500M for FIFA World Cup rights. ProFootballTalk says 18-game NFL expansion by 2027 is unlikely.