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News For DELL;ABBV From The Last 14 Days Check below for free stories on DELL;ABBV the last two weeks. |
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| May 20, 2013 | | 16:55 EDT |  | DELL | S&P lowers Dell ratings to 'BBB' from 'A-', remains on watch negative
Standard & Poor's Ratings Services lowered its corporate credit and senior unsecured debt ratings on Dell to 'BBB' from 'A-', and its commercial paper rating to 'A-2' from 'A-1'. All ratings remain on CreditWatch, where they were placed with negative implications on Feb. 5. The initial CreditWatch listing reflected S&P's assessment that the $24.4B going private transaction, which includes a substantial portion of debt financing, will materially degrade Dell's financial risk profile, which S&P currently view as modest. Although Carl Icahn submitted a non-binding alternative acquisition proposal, the Michael Dell and Silver Lake Partners LBO proposal remains the only transaction that has been approved by Dell's board of directors. S&P's review of the LBO transaction terms and the company's ownership, business and financial strategy may also result in a downward revision of its assessment of Dell's business risk profile. | | | 11:14 EDT | | DELL | Dell to deliver public cloud through partner ecosystem
 Subscribe for More Information | | | 10:51 EDT | | ABBV | AbbVie initiates Phase 3 clinical study for atrasentan
Subscribe for More Information | | | 07:42 EDT |  | ABBV | Cohasset Associates to host a conference
National Conference on Managing Electronic Records is being held in Chicago on May 20-22. | | | 07:03 EDT | | DELL | Dell committee says cannot evaluate Icahn proposal without more information
Subscribe for More Information | | | May 17, 2013 | | 14:03 EDT |  | DELL | Market set to finish week with gains after Cisco results, comments
Subscribe for More Information | | | 08:29 EDT | | DELL | JPMorgan's business and information services analyst holds a conference call
Subscribe for More Information | | | 08:02 EDT |  | DELL | Dell results could increase votes for Silver Lake offer, says Wells Fargo
Subscribe for More Information | | | 05:15 EDT | | ABBV | Galapagos, AbbVie extend GLPG0634 collaboration
Galapagos and AbbVie announced an extension of their GLPG0634 clinical development collaboration to include Crohn's disease. Galapagos will fund and complete a Phase 2 program in Crohn's disease, which is designed to facilitate rapid progression into Phase 3. Upon successful completion of the study, expected in Q2 of 2015, AbbVie will pay Galapagos $50M. The terms of the collaboration extension are in addition to previously agreed upon financial terms. AbbVie will be responsible for funding and performing clinical development beyond Phase 2, and completing regulatory and commercialization activities. Galapagos will start an 20-week, Phase 2A/B study with GLPG0634 in 180 patients suffering from Crohn's disease by early 2014. | | | May 16, 2013 | | 18:01 EDT | | DELL | Dell continues to expect 'relatively weak' demand in end-user PC business
Subscribe for More Information | | | | 16:05 EDT |  | DELL | Dell reports Q1 enterprise solutions, services, software revenue up 12% to $5.5B
Subscribe for More Information | | | 16:02 EDT | | DELL | Dell not providing guidance for Q2
Subscribe for More Information | | | 16:01 EDT | | DELL | Dell reports Q1 adjusted EPS 21c, consensus 35c
Reports Q1 revenue $14.1B, consensus $13.52B. | | | 15:14 EDT | | DELL | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. | | | 13:58 EDT | | DELL | Earnings Preview: Dell facing uncertainty about going private ahead of Q1 report
Dell (DELL) is set to report Q1 earnings after the market close on Thursday, May 16, with a conference call scheduled for 4:45 pm ET. Dell is a global IT company that operates enterprise, business, and consumer segments. EXPECTATIONS: Analysts are looking for EPS of 35c on revenue of $13.52B, according to First Call. The consensus range for EPS is 28c-42c on revenue of $12.6B-$14.22B. A report by Dow Jones earlier this week said Dell will report non-GAAP EPS of 20c on revenue of about $14B. LAST QUARTER: Dell reported Q4 adjusted EPS of 40c against consensus for 39c on revenue of $14.3B against estimates for $14.12B. On its Q4 earnings conference call, the company said it expects continued margin pressure and market competitiveness in 2013. GO-PRIVATE NEWS: On February 5, Dell officially announced that it had agreed to be taken private for $13.65 per share by a consortium lead by Silver Lake. On March 25, Dell announced it had received two alternative proposals during its go-shop process, which began following its February 5 announcement. These proposals included a $14.25 per share offer from Blackstone (BX), and a $15 per share offer from Carl Icahn and affiliated funds, including Icahn Enterprises (IEP). On April 19, Dell announced that Blackstone decided not to submit a bid for the company. Last Friday, Icahn and Southeastern Asset Management, which collectively hold about a 13% stake in Dell, submitted an alternative proposal to Dell's board. The Icahn and Southeastern proposal would allow Dell shareholders to receive a $12 per share cash distribution or $12 of additional shares valued at $1.65 per share. On Monday, the special committee of Dell's board asked Icahn and Southeastern for more information related to proposal, while Icahn and Southeastern proposed a slate of directors to the company's board that same day. COMPANY NEWS: In addition to news surrounding the company's go-private proposal, data regarding global PC demand has also weighed on Dell. On April 10, data from IDC said worldwide PC shipments totaled 76.3M in Q1, a 13.9% decline from the prior year period, which was worse than the expected decline of 7.7%. IDC also added that this year-over-year decline was the worst since the firm began its quarterly tracking of the PC market in 1994. On March 28, data released by Gartner said worldwide IT spending is projected to increase 4.1% in 2013 to $3.8T. PRICE ACTION: Shares of Dell have slid more than 2.5% since the first day of trading following its Q4 report. Following the March announcement that Dell received alternative proposals from Blackstone and Icahn, shares closed as high as $14.51 per share. Through April, however, shares of Dell slipped, including a sharp decline after disclosing Blackstone withdrew its offer, with shares closing as low as $13.09 per share. In afternoon trading ahead of its Q1 report, shares of Dell are down 0.2%, to about $13.42. | | | 13:57 EDT |  | DELL | Dell May 13 straddle priced for 1.7% move into Q1
Subscribe for More Information | | | 08:55 EDT | | ABBV | BofA/Merrill's pharmaceuticals analysts hold analyst/industry conference call
Subscribe for More Information | | | May 15, 2013 | | 17:26 EDT | | ABBV | Third Point gives quarterly update on stakes
NEW STAKES: Virgin Media (VMED), Tiffany (TIF), B/E Aerospace (BEAV), Anadarko (APC), and Thermo Fisher (TMO). INCREASED STAKES: International Paper (IP), Abbvie (ABBV), TransDigm (TDG), Constellation Brands (STZ), and Dollar General (DG). DECREASED STAKES: Delphi (DLPH), Murphy Oil (MUR), AIG (AIG), LyondellBasell (LYB), and Liberty Global (LBTYA). LIQUIDATED STAKES: Tesoro (TSO), Morgan Stanley (MS), Symantec (SYMC), Herbalife (HLF), and Illumina (ILMN). | | | 16:48 EDT | | DELL | Icahn gives quarterly update on stakes
Subscribe for More Information | | | 10:13 EDT |  | ABBV | On The Fly: Analyst Initiation Summary
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