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Rupert Murdoch's News Corporation (NWS | Quote | Chart | News | PowerRating) is an extremely influential and powerful media empire. I visited its headquarters at 1211 6th Avenue in New York City, the high tech security there is very James Bond-esque. News Corporation is constantly expanding its empire, which includes MySpace, Dow Jones, and Fox News though acquisitions and mergers.
News Corporation was founded in 1980 by Rupert Murdoch as a holding company for News Limited. Murdoch obtained the initial funding from an inheritance from his father. Rupert has since built the company into a powerful juggernaut consisting of internet, TV, broadcasting, newspapers, magazines, movies and sport teams internationally.
The company has earned only a 2 Long Term PowerRating. For those of you unfamiliar with our PowerRating system, here is a brief overview: PowerRatings are a statistically based stock rating tool based on 13 years of extensive studies across most market conditions.
Long term investors should seek to build portfolios made up of top rated stocks and avoid those with the low ranks of 1or 2. These low rated stocks have been shown to be too volatile for conservative long term holdings.
However, it is important to note, that PowerRatings are a dynamic metric, meaning they can change on a daily basis and always reflect the stocks potential one year into the future. Therefore, you shouldn't rush to include stocks with low Long Term PowerRatings in your portfolio just yet, but some of them, such as today's spotlight, that show positive signs should be monitored for an improving rating.
Fundamentally News Corp is very strong. Fiscal 2008 resulted in a 21% operating income increase and an EPS increase of an impressive 68% per share. Even their print business showed an increased income of 12% based on the success of the Dow Jones inclusion and Australian newspapers. Their FOX broadcasting division experienced record full year operating profits and positive metrics prevailed across most business segments.
Technically, News Corp has been in a nice uptrend since bottoming in mid November around $6.00/share. Price is now hovering around the $10.00/share level after breaking through the 50-day Simple Moving Average.
The 200-day SMA looks like the next strong resistance level at $13.86/share. Although this company has a low Long Term PowerRating, the fundamental and technical pictures are positive. News Corp deserves a close look!
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David Goodboy is Vice President of Business Development for a New York City based multi-strategy fund.
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