Brandon Gold

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Sell Presentation on Time Warner Inc. (TWX)

• Brandon Gold Dan Stefan
• Lafayette College Investment Club
• April 3, 2009

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Historic Stock Price Chart
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Company Information and News

• Founded in 1985 and is based in New York, New
  York
• Operates as a media and entertainment company in
  the United States and internationally.
• 5 Segments AOL, Cable, Filmed Entertainment,
  Networks, and Publishing.

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Sell Factors

• 2008 EPS (11.88)
• Industry Consumer Discretionary
• Reverse Stock Split
• It's usually a bad sign if a company is forced to
  reverse split - firms do it to make their stock
  look more valuable when, in fact, nothing has
  changed
• A company may also do a reverse split to avoid
  being delisted.