I'm sure some of you will understand what he's on about in the WSJ.. we get the gist? but we have to say it's not exactly clear... is this how they talk all day long ? .. it must be a dull life.
The WSJ reports
Thomson Reuters Corp. (TRI) was cut to equalweight from overweight and Wolters Kluwer NV (WTKWY, WKL.AE) was lowered to underweight from equalweight by Morgan Stanley, as the broker reviewed its ratings on European media firms. The broker still prefers the more cyclical media companies like ProSieben Media AG (PSM.XE) and ITV PLC (ITV.LN, ITVPF) and also prefers early-cycle business-to-business firms such as Informa PLC (INF.LN, IPFJF) and Daily Mail & General Trust PLC (DMGT.LN). Thomson Reuters was cut on its extra investment plans and a still sluggish legal market, and Wolters Kluwer was lowered because it's very late cycle and requires extra investment to offset accelerating print decline. Telecinco was cut to equal-eight from overweight, given strong performance.
