Fox Corp.'s latest quarterly financials, reportedTuesday, drew positive reviews from Wall Street analysts. But the company's stock took a hit Wednesday despite broader market gains, as analysts discussed the potential fallout of the U.S.
elections. As of 12:45 p.m. ET, Fox's shares were down 6.7 percent at $25.22. Over the past year, the stock has traded between $19.81 and $39.74. "Fiscal first-quarter results beat on strong ad and shifted costs," UBS analyst John Hodulik said in his earnings review.
But he called the election outcome "an overhang." Explained the analyst: "Ratings implications with a potential change in administration and increased competition at Fox News … remain overhangs." Hodulik noted, for example, that fourth-quarter.
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