DISCA stock rose more than 16% in early trading on January 7, 2022, a day after the stock was named a top pick by Wells Fargo.
Discovery named Top Large-Cap Value Idea for 2022 at Wells Fargo
On January 4, 2022, Wells Fargo analyst Steven Cahall believes Discovery “needs to be on everyone’s radar for 2022.” HBO and Warner Bros. are bona fide hit factories, and the mix of assets between Discover and WarnerMedia means investors should see this as a strong global content player, albeit with a bumpy integration period ahead, the analyst contends. Cahall argues that holding the shares back is the risk of selling pressure from the deal, and that’s going to present a “uniquely attractive entry point” for fundamental investors with reasonable holding periods. The analyst called Discovery his “Top Large-Cap Value Idea for 2022” and kept an Overweight rating and a price target of $46 on the shares.
Discovery, Inc. Announces European Commission Unconditional Approval of Proposed Acquisition of AT&T’s WarnerMedia Business
On December 22, 2021, Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK) announced that the European Commission (EC) has granted unconditional antitrust clearance of the Company’s proposed acquisition of AT&T Inc.’s (NYSE:T) WarnerMedia business.
“Approval from the European Commission is a key milestone toward completing our proposed transaction with AT&T,” said David Zaslav, President and Chief Executive Officer of Discovery, and the future CEO of the combined company. “Today we move one important step closer to creating Warner Bros. Discovery, a premier entertainment company that will be one of the world’s leading investors in premium content and one positioned to serve consumers with what we believe will be the most complete content offering under one roof.”
Discovery currently anticipates the closing of the WarnerMedia transaction to occur in mid-2022, subject to approval by Discovery stockholders and additional customary closing conditions, including other regulatory approvals. No approval is required by AT&T stockholders.
discovery+ Now on VIZIO SmartCast
On December 16, 2021, Discovery, Inc. and VIZIO announced that discovery+, the definitive non-fiction, real-life subscription streaming service, is now available to millions of VIZIO SmartCast users. As part of the launch, VIZIO will feature a unique content experience on the SmartCast home screen. The dedicated carousel, “Discover More on discovery+,” will showcase the variety and volume of the content portfolio and introduce users to the best-of discovery+ with the top shows and fan favorites.
At launch, subscribers will find holiday-themed programming from the brands they love including True Crime series Fruitcake Fraud and The Pioneer Woman’s Hometown: Holiday Themes, in addition to new series such as Discovering David Dobrik, Drew’s Dream Car with Drew Scott and Ant Anstead, My Dream Kitchen with Giada de Laurentiis and Carla Hall, and a new season of Hometown: Ben’s Workshop.
discovery+ offers 60,000 episodes of current and classic shows from Discovery’s iconic portfolio of networks, including HGTV, Food Network, TLC, ID, OWN, Travel Channel, Discovery Channel, Animal Planet and Magnolia Network, as well as more than 200 discovery+ original titles and hundreds of hours of exclusive content. Additionally, the service offers top non-fiction content from A&E, The HISTORY Channel and Lifetime, as well as the definitive offering of nature and environmental programming, headlined by exclusive streaming access to the largest collection of natural history from the BBC.
“VIZIO SmartCast users can now experience the high quality, non-fiction storytelling that Discovery is known for as well as enjoy an extensive slate of exclusive discovery+ originals and shows across a broad range of genres,” said Katherine Pond, Vice President of Business Development at VIZIO. “The addition of discovery+ on the SmartCast home screen means audiences can dive into a deep catalogue of content and instantly stream some of the most popular shows on television.”
“We remain committed to offering discovery+ to fans across all platforms and providing them with an unparalleled experience,” said Gabriel Sauerhoff, SVP, Digital Distribution and Commercial Partnerships at Discovery, Inc. “This new partnership with VIZIO allows us to expand the reach of all of Discovery’s digital properties to even more of our dedicated viewers on SmartCast.”
VIZIO viewers can enjoy home screen access to discovery+ across VIZIO’s SmartCast TVs. When paired with VIZIO’s best-selling sound bars, viewers can also enjoy a fully immersive home theater experience.
VIZIO SmartCast users can find discovery+ in the app row on the SmartCast home screen. Users can access the streaming service for $4.99 per month with a seven-day trial before purchasing, or a commercial-free subscription for $6.99 per month.
📺 AT&T’s WarnerMedia and Discovery, Inc Unite
📈 DISCA Stock Technical Analysis
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction. Volume is considerably higher in the last couple of days. DISCA is part of the Media industry. There are 93 other stocks in this industry, of which 67% are performing better than DISCA. DISCA is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so DISCA is lagging the market.
There is support at 28.94 from a horizontal line in the daily time frame. There is also a support zone ranging from 27.91 to 28.23. This zone is formed by a combination of multiple trend lines in multiple time frames.
DISCA has an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when DISCA stock consolidates and is a good entry.