Boston, MA 10/07/2014 (wallstreetpr) – Turner Broadcasting System, Inc which is a fully owned subsidiary of Time Warner Inc (NYSE:TWX) announced on 6th October that it would be cutting down its global employees base by nearly 10 percent. Last reported, the firm employed nearly 14,000 full time employees. Close to 1475 roles are likely to be impacted as per the firm’s press release. The retrenchments are likely to impact all levels of the business spread across its 18 global locations, the press release indicated. The impacted employees are likely to be intimated about the development over the next two days. The work force correction is part of a larger refocusing exercise the entertainment major has embarked on across all its units in order to cut down costs and reposition itself for growth.
The Law Offices of Vincent Wong released a press release on 6th October indicating that they have initiated a investigation into the omissions and commissions of Board of Directors of Move, Inc. (NASDAQ:MOVE). The investigations will look into any violations that the directors and executives of Move, Inc. (NASDAQ:MOVE) might have committed with respect to protecting the rights of shareholders during their negotiations with News Corp (NASDAQ:NWSA). News Corp (NASDAQ:NWSA) had recently announced that it would be buying out Move, Inc. (NASDAQ:MOVE) at a price of $21 per share.
Analysts at JPMorgan and Chase had reiterated their Neutral rating on the stock of Constellation Brands Inc. (NYSE: STZ) on 6th October. Constellation Brands Inc. (NYSE: STZ) had reported results for its Q2 FY15 operations on October 02, 2014. Since then the stock has come under selling pressure of the investor community. The selloff in the stock occurred in spite of the firm reporting nearly 10 percent increase in net sales on a YoY compare. Its diluted EPS was down 87 percent in comparison to 2Q13 on a reported basis.
