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December 10, 2012
15:22 EDTSURG, GEF, PPHM, ABM, TEA, LDRCompanies reporting After the Market Close on Monday, December 10
Notable companies reporting after the closing bell on Monday include ABM Industries (ABM), Greif (GEF), Landauer (LDR), Peregrine Pharmaceuticals (PPHM), Synergetics (SURG), and Teavana Holdings (TEA).
News For ABM;GEF;LDR;PPHM;SURG;TEA From The Last 14 Days
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September 3, 2015
08:32 EDTGEFGreif reports Q3 EPS 60c ex-items, consensus 41c
Reports Q3 revenue $930M, consensus $934.13M. The Company's results of its Venezuelan businesses have been reported under highly inflationary accounting since 2010, and the functional currency was converted to US Dollars at that time. As a result of recent government action and significant continued devaluation of the Bolivar, the Company has reconsidered which of the available exchange rates best reflects the economics of Greif's business activities and has concluded that the Company should utilize the SIMADI rate to remeasure its Venezuelan operations effective July 31, 2015. As a result of the utilization of the SIMADI rate and associated local currency denominated balance sheet remeasurement on July 31, 2015, the Company recorded after-tax other income of $4.9 million related to the remeasurement of its Venezuelan monetary assets and liabilities during the third quarter. In addition, the Company recorded an adjustment of $9.3 million to write down the value of its inventory to net realizable value on a US Dollar basis. Finally, upon review of long-lived assets for impairment, the Company determined that the carrying amount of those assets in Venezuela was not recoverable in US dollar functional currency and recorded an impairment charge of $15.0 million. The Company's overall gross margin percentage for the quarter is 1% lower due to the impact of the inventory adjustment. Results of the Company's Venezuelan operations will be translated to US Dollars using the SIMADI exchange rate as of August 1, 2015.
07:14 EDTSURGSynergetics downgraded to Equal Weight from Overweight at Stephens
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September 2, 2015
18:19 EDTABMABM Industries announces $200M share repurchase program
The ABM board has authorized a $200M share repurchase program. The company intends to repurchase its common shares from time to time in open market purchases or privately negotiated transactions and may make all or part of the repurchases pursuant to Rule 10b5-1 plans.
18:18 EDTABMABM Industries narrows FY15 adjusted EPS view to $1.75-$1.80, consensus $1.80
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18:17 EDTABMABM Industries reports Q3 adjusted EPS 47c, consensus 49c
Reports Q3 revenue $1.35B, consensus $1.33B.
16:51 EDTSURGOn The Fly: Top stock stories for Wednesday
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16:46 EDTABMABM Industries to explore strategic alternatives for Security business
ABM Industries also reviewed all service lines and internal investments to assess whether ABM is best positioned to continue to competitively offer value added services to customers over the long-term. As a result of this process, despite its strong underlying fundamentals, the company has determined that it will explore strategic alternatives for its Security business that may include a partnership, sale or other strategic transaction. ABM's review of strategic alternatives for its Security business is only in its beginning stages. As such, at this point, ABM cannot assess whether any particular strategic alternative for the Security business will be pursued or, if so, upon what terms and conditions or the timing thereof. ABM plans to further discuss its strategy and transformation initiative during its investor meeting at the end of October.
16:45 EDTABMABM Industries sees pre-tax restructuring charges of $45M-$60M in Q3
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16:42 EDTABMABM Industries approves strategy to drive long-term growth
ABM announced that its board has approved a comprehensive strategy and transformation initiative to drive long-term profitable growth and enhance shareholder value. The initiative will focus ABM on its core strengths and most profitable businesses, and align its business operations to deliver unique industry and client solutions. As previously announced in June, the company underwent a comprehensive strategic review with the assistance of the Boston Consulting Group to develop a long-term strategic plan for the business. As part of this process, ABM identified several key priorities designed to differentiate ABM in the marketplace, improve its margin profile and accelerate revenue growth. These priorities include: Growing by focusing on industries and solutions where ABM can distinguish itself on service and quality and drive profitable, margin-accretive growth. ABM will initially focus on key verticals where it has or can build a competitive advantage, including Business & Industry, Aviation, Healthcare, Education, and HighTech; Aligning business operations to better support specific industries and deliver excellence in client solutions, including a transition to an integrated end-market verticals focus, simplified organizational structure and a consolidation of certain shared services. The company expects the majority of the organizational changes to be in place by the end of Q2 of FY16; Implementing best practices in account management and labor management across the organization, as well as developing a more integrated approach for continuous improvement in its safety program, including driving initiatives to help reduce future insurance claim frequency and severity; Leveraging the company's scale to manage costs more efficiently and effectively, including supplier consolidation and process and procurement enhancement; Creating greater opportunities and career paths for ABM employees by further developing the company's talent management system capabilities; Announcing a $200M share repurchase program, a dividend consistent with current practice, and an increased focus on specific financial performance metrics.
14:50 EDTABMNotable companies reporting after market close
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10:00 EDTGEFOn The Fly: Analyst Upgrade Summary
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09:27 EDTSURGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vera Bradley (VRA), up 22.2%. ALSO HIGHER: Synergetics USA (SURG), up 51.7% after announcing that it will be acquired by Valeant (VRX) for $6.50 per share in cash... Loxo Oncology (LOXO), up 6.1% after the FDA grants orphan drug designation to LOXO-101. DOWN AFTER EARNINGS: Ambarella (AMBA), down 6.6% after reporting quarterly results and saying that wearable camera revenue will be lower in the third quarter. ALSO LOWER: GoPro (GPRO), down 5% following Ambarella's guidance announcement.
08:48 EDTGEFGreif upgraded on valuation at BMO Capital
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08:03 EDTSURGSynergetics to be acquired by Valeant for $6.50 per share in cash
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08:00 EDTSURGSynergetics to be acquired by Valeant for $6.50 per share in cash
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September 1, 2015
22:26 EDTGEFGreif upgraded to Outperform from Market Perform at BMO Capital
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August 26, 2015
16:09 EDTLDRLandauer appoints Michael Kaminski as CEO
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09:04 EDTPPHMPeregrine presents bavituximab data showing estimated survival curves at plateau
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August 24, 2015
09:18 EDTPPHMOn The Fly: Pre-market Movers
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05:13 EDTPPHMAstraZeneca to collaborate with Peregrine on cancer immunotherapy clinical trial
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