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News Breaks
July 10, 2014
Today's noteworthy upgrades include: Alcoa (AA) upgraded to Overweight from Equal Weight at Morgan Stanley... Allscripts (MDRX) upgraded at ISI Group... Autodesk (ADSK) assumed with an Overweight from Equal Weight at Barclays... Comerica (CMA) upgraded to Buy from Neutral at Guggenheim... CommonWealth REIT (CWH) upgraded to Buy from Hold at Stifel... Heineken (HEINY) upgraded to Neutral from Underperform at Credit Suisse... HollyFrontier (HFC) upgraded to Neutral from Underperform at Macquarie... Iberdrola (IBDRY) upgraded to Outperform from Neutral at Credit Suisse... MB Financial (MBFI) upgraded to Buy from Neutral at Sterne Agee... MRC Global (MRC) upgraded to Neutral from Underperform at BofA/Merrill... Martin Marietta (MLM) upgraded to Conviction Buy from Buy at Goldman... PrivateBancorp (PVTB) upgraded to Buy from Neutral at Sterne Agee... SVB Financial (SIVB) upgraded to Buy from Hold at Sandler O'Neill... Starwood (HOT) upgraded to Buy from Hold at MLV & Co.... TCF Financial (TCB) upgraded to Buy from Neutral at Sterne Agee... Telecom Italia (TI) upgraded to Overweight from Neutral at JPMorgan... Tractor Supply (TSCO) upgraded to Outperform from Neutral at Credit Suisse.
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July 28, 2015
05:41 EDTHEINYHeineken announces restructuring of Namibian operations
Heineken announces that HEINEKEN, Diageo plc and The Ohlthaver & List, or O&L, Group of companies, the majority shareholder of Namibia Breweries Limited, or NBL, have agreed to restructure their respective joint venture operations in South Africa and Namibia. As part of the restructuring, the three parties have agreed a new ownership structure for NBL. HEINEKEN will acquire the 15% indirect stake that Diageo owns in NBL, increasing its indirect ownership to 29.9%. O&L will retain its 30.1% indirect stake with the balance being held by local shareholders. HEINEKEN will pay a total net cash consideration of c. ZAR 1.9bn to Diageo for the equity and debt positions it acquires in Sedibeng, DHN and NBL. Completion of the transaction is expected in Q4 and is subject to customary regulatory approvals.
05:40 EDTHEINYHeineken announces restructuring of South African operations
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July 27, 2015
16:30 EDTHOTOZ Management fils 5.05% passive stake in Starwood
July 26, 2015
15:35 EDTAAAlcoa looks 'far more promising' under CEO Kleinfeld, Barron's says
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July 24, 2015
10:00 EDTHFCOn The Fly: Analyst Initiation Summary
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07:13 EDTHFCHollyFrontier initiated with an Outperform at Macquarie
Target $52.
July 23, 2015
20:03 EDTTITelecom Italia identifies 1,700 redundant jobs within the company
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16:50 EDTSIVBSVB Financial reports Q2 EPS $1.66, consensus $1.46
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16:33 EDTCMAComerica reports mid-year company-run stress test results
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09:06 EDTAAAlcoa announces realignment of downstream portfolio
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09:02 EDTAAAlcoa completes acquisition of RTI International
Alcoa (AA) announced that it has completed the acquisition of RTI International Metals (RTI). The merger, announced on March 9, became effective today. Under the terms of the merger agreement, each share of RTI common stock has been converted into the right to receive 2.8315 shares of Alcoa common stock, plus an amount of cash in lieu of fractional shares of Alcoa common stock. Alcoa expects RTI to contribute $1.2 billion in revenue in 2019, up from $794 million that RTI generated in 2014, with 65 percent of revenues supported by contracts over the next five years. RTI’s profitability is expected to reach 25 percent EBITDA margin in 2019. Contracts that underpin RTI’s growth include the recently announced contract with Airbus for finished titanium structural supply parts for the new A350-1000 aircraft program. Under the agreement, Alcoa will supply titanium parts for the fuselage, among other components. Alcoa expects global aerospace sales growth of 8 to 9 percent in 2015. Projections for 2016 and 2017 sales growth have nearly doubled to 8 and 13 percent, from 4 to 5 percent and 6 percent, respectively, showing the ongoing strength of the sector. Eighty percent of RTI’s revenues in 2014 were from the aerospace and defense industries. With RTI, Alcoa’s 2014 pro forma aerospace revenue increases by 13 percent to $5.6 billion. RTI is being integrated as a standalone business unit into Alcoa’s downstream Engineered Products and Solutions segment.
08:18 EDTHOTStarwood unit signs agreement with Qingdao Conson for St. Regis brand
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08:18 EDTTSCOTractor Supply positive thesis remains intact, says Baird
Baird said its positive thesis for Tractor Supply remains intact following Q2 results that the firm views as solid. Baird reiterated its Outperform rating and $107 price target on Tractor Supply shares, citing its top-line strength, ramp up in Western stores, improved gross margins and increased guidance.
08:11 EDTTCBTCF Financial reports Q2 EPS 29c, consensus 29c
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05:48 EDTHOTStocks with implied volatility above IV index mean; HOT AMZN
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July 22, 2015
19:02 EDTTSCOOn The Fly: After Hours Movers
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16:34 EDTTSCOTractor Supply slips lower after earnings
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16:07 EDTTSCOTractor Supply raises FY15 EPS outlook to $3.00-$3.08 from $2.95-$3.05
Raises FY15 revenue outlook to $6.25B-$6.33B. Comparable store sales are now expected to increase 3.5%-4.5% compared to prior expectation of an increase of 2.5%-4.0%. Cites "strong performance in the first half."
16:06 EDTTSCOTractor Supply reports Q2 EPS $1.12, consensus $1.11
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15:26 EDTTSCONotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
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