TF1 : Amélioration du marché, contrôle des coûts mais coupe du dividende
>Une année 2020 qui devrait s’annoncer meilleure que les attentes initiales du consensus - TF1 a tenu sa conférence téléphonique hier. Nos attentes sont légèrement révisées en baisse en raison de l’activité Studios & Entertainment (mais nous étions largement au-dessus du consensus). Le message du management confirme notre vue que le marché français se stabilise. Nous avons toutefois intégré dans nos attentes une possible baisse en septembre (-8/-10%), nous conduisant ...Television Francaise 1 is a French general-interest television channel. Co. is an integrated communications group. Its activities cover the whole of the audiovisual industry: upstream in production, acquisition and sale of audiovisual rights and also in distribution of feature films to cinemas; downstream in sale of advertising space, and publishing and distribution of DVDs and music CDs. Co. is also engaged in home-shopping TV with Teleshopping, and pay-TV market. In addition, Co. produces multimedia content. Its activities can be divided into four sectors: Broadcasting France, Broadcasting International, Audiovisual Rights and Other Activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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