- Following the news today regarding WWE's new partnership in China, WWE stock was up 4.15%, closing at $18.55.
- The Street has an article here about WWE expanding in China and their stock going up today.
- Benzinga has an article here about Pacific Crest analyst Evan Wingren stating that WWE is about to turn a major corner due to the Network. Wingren believes that WWE stock will rise 24% in the next year and doubled WWE's 2017 income estimates from $7 million to approximately $14 million.
"We believe WWE's model is at an inflection point, and that it is on the cusp of demonstrating profitability that greatly exceeds its historical earnings power," Wingren stated in a note to clients on Wednesday (h/t to CNBC). "A deep dive into WWE Network's cost structure suggests greater leverage than we previously thought."
- WWE CFO George A. Barrios will participate in a presentation at the Bernstein Global Future of Media & Telecom Summit in Boston, Massachusetts on Tuesday, June 21st. Barrios' remarks are expected to begin at approximately 9:30 a.m. ET.