- Take reports that Verizon (VZ +0.5%) is interested in buying Walt Disney (DIS +1.7%) with a New York Post-sized grain of salt, advises RBC Capital's Steven Cahall.
- He casts some shade on the paper's "well-placed banker" source ("probably well-placed at 5th Avenue's Polo Bar in a pair of brightly colored pants") as well.
- It's "not fake news" but the paper's legitimacy burden sits somewhere below WSJ, Reuters and Bloomberg, he notes. The Post sometimes gets M&A speculation right, Cahall says, pointing to news about CBS/Viacom talks "following its investigative efforts into media moguls over martinis (at) the 21 Club."
- "We'd thus advise investors to assign the Post's report a low probability, but perhaps do their own channel checks at the The Algonquin, The Grill and Monkey Bar."
- Disney's up 1.7% nonetheless, reaching its highest point in six weeks. Verizon is pulling back off a session high it hit 20 minutes ago.
- Previously: Verizon rumored to be eyeing Disney (Jul. 03 2017)
- Now read: Verizon And Boeing (NYSE:BA) Team To Fund SparkCognition's Machine Learning Security
Original article