News Corporation (NWSA - Free Report) was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $11.39 to $12.24 in the past one-month time frame.
The move came after the company announced that it is evaluating options to sell its News America Marketing business in an effort to simplify its business structure.
The company has seen a mixed track record when it comes to estimate revision of no increase and one decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter has remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
News Corporation currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Film and Television Production and Distribution industry may consider a better-ranked stock like IMAX Corporation (IMAX - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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