What’s the first thing you do when you wake up in the morning? No need to answer because we definitely know how you start your day – reaching out you grab your phone from the bedside table and start scrolling the news feed. Dozens, hundreds, thousands, millions of news headlines attack you at first light. One such morning, you came across the news of Tucker Carlson's departure from Fox News, and we'll now share with you what happened next.
In case you’re a die-hard trader, you should know that all key events, announcements, and news are to be found not on the news pages but in the U.S. economic calendar.
Carlson is a top-rated host for the FOX network, drawing 334,000 viewers. After the announcement of him leaving, the company’s stock sank 5% representing a loss in market value of more than $800 million. Later in the day, the stock slightly went up.
Carlson's departure came less than a week after Fox reached a settlement agreement with Dominion Voting Systems, who sued them in a libel case.
At this point, the financial consequences for Fox may be minimal, as advertisers typically book their spots in advance. However, in the long term, there could be some financial difficulties depending on who replaces Carlson, and whether the new host succeeds (or perhaps no one can surpass Carlson's success).
The analysts’ 12-month price forecast for Fox Corp have a median target of 36.00, with a high estimate of 44.00 and a low estimate of 28.00. The median estimate represents a +19.34% increase from the last price of 30.17.
But no matter what analysts say, before buying or selling any asset, make sure to do your own research. This is rule #1, which every trader should stick to.
