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December 13, 2012
10:12 EDTALLT, VECO, MFA, TIE, UTHR, NLY, LXK, ADI, LLTC, CREE, IRF, CMA, NBR, HBANOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Analog Devices (ADI) downgraded to Neutral from Buy at Citigroup... Comerica (CMA) downgraded to Underperform from Market Perform at Keefe Bruyette... Cree (CREE) downgraded to Neutral from Buy at B. Riley... Huntington Bancshares (HBAN) downgraded to Underperform at Keefe Bruyette... International Rectifier (IRF) downgraded to Sell from Neutral at Goldman... Linear Technology (LLTC) downgraded to Sell from Neutral at Citigroup... Nabors Industries (NBR) downgraded to Underperform from Hold at Jefferies... United Therapeutics (UTHR) downgraded to Sell from Neutral at Goldman... Veeco (VECO) downgraded to Neutral from Buy at B. Riley... Darden downgraded to Neutral from Buy at Goldman... Lexmark (LXK) downgraded to Sell from Hold at Deutsche Bank... Titanium Metals (TIE) downgraded to Neutral from Overweight at JPMorgan... Allot Communications (ALLT) downgraded to Hold from Buy at Wunderlich... Annaly Capital (NLY) downgraded to Hold from Buy at Deutsche Bank... MFA Financial (MFA) downgraded to Hold from Buy at Deutsche Bank.
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July 21, 2015
09:21 EDTLXKOn The Fly: Pre-market Movers
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09:10 EDTLXKLexmark management states 'don't expect M&A activity for about 18 months'
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09:08 EDTLXKLexmark sees long term total revenue growth at or above market
Sees long term operating income margin 11%-13%. Sees FY16 higher value solutions at approximately 45%. Management stated that the company has paused share repurchases for 18-24 months in order to focus on paying down credit facilities related to the Kofax acquisition. Management stated that the company expects the planned actions of the restructuring completed by the end of FY16. Sees FY15 free cash flow of 20%-30% of Non GAAP net income. Comments provided during Q2 earnings conference call.
08:39 EDTLXKLexmark announces restrcturing actions, to cut about 500 positions worldwide
Lexmark is announcing restructuring actions designed to increase profitability and operational efficiency. These global restructuring actions are expected to be broad-based but are primarily expected to capture the anticipated cost and expense synergies from the Kofax and ReadSoft acquisitions. Also, as the strong U.S. dollar continues to negatively impact the company's earnings, restructuring actions will also be taken to reduce cost and expense structure in the ISS segment and corporate organization. Primary impact will be general and administrative, marketing and development positions as well as the consolidation of regional facilities. These actions are expected to result in the elimination of approximately 500 positions worldwide over the next 18 months, with approximately one third of the positions being shifted to low cost countries. These actions are expected to generate $2M savings in 2015, and annualized savings of $65M beginning in 2017. Lexmark expects the savings will be split approximately 90% operating expense, and 10% cost of goods sold. The total pretax cost for these actions is expected to be approximately $55M, with $37M incurred in 2015 and the remainder in 2016. The cash impact for these actions is expected to be $55M, with $13M incurred in 2015 and the remainder in 2016.
08:26 EDTNLYFBR expects negative reaction to Annaly CEO change
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06:34 EDTLXKLexmark sees FY15 EPS $3.55-$3.75, consensus $3.68
Sees FY15 core revenue up 3%-5%. Sees total revenue down 1% to up 1%.
06:33 EDTLXKLexmark sees Q3 EPS 51c-61c, may not compare to consensus 89c
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06:31 EDTLXKLexmark reports Q2 adjusted EPS 97c, consensus 82c
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July 20, 2015
16:09 EDTNLYAnnaly Capital names Kevin Keyes as CEO, effective September 30
Annaly Capital Management announced that its Board of Directors has appointed Kevin Keyes as its CEO. Keyes will also retain the title of President. Wellington Denahan, Annaly’s co-founder, Chairman and CEO, will remain Chairman of the Board of Directors and will also serve as Executive Chairman of the company focusing on strategic and capital allocation decisions.
14:58 EDTLXKLexmark technical notes before results
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July 17, 2015
16:55 EDTNBRC&J Energy announces filing of shelf registration statements
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10:03 EDTCMAHigh option volume stocks
High option volume stocks: EWC DF WPX CLSN TE CMA SWI CE VRSN USG
08:05 EDTLXKLexmark launches Kofax View for Microsoft Outlook
Lexmark (LXK) announced the availability of Kofax View, the first document viewing, editing and PDF creation application for Microsoft (MSFT) Outlook. “Microsoft Office delivers exceptional workforce productivity and Microsoft Outlook is central to increased productivity through collaboration. Kofax View gives Outlook users—including Outlook for Office 365 users in the cloud—the ability to more easily create, manage and share familiar document types for improved communication that significantly streamlines the workflow process,” said David Caldeira, product marketing executive, Lexmark Enterprise Software.
06:44 EDTCMAComerica reports Q2 EPS 73c, consensus 75c
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July 16, 2015
15:02 EDTCMANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include General Electric (GE), consensus 28c... Honeywell (HON), consensus $1.49... Synchrony Financial (SYF), consensus 62c... SunTrust Banks (STI), consensus 81c... Progressive (PGR), consensus 55c... W.W. Grainger (GWW), consensus $3.05... Kansas City Southern (KSU), consensus $1.02... JB Hunt Transport (JBHT), consensus 90c... Autoliv (ALV), consensus $1.55... Comerica (CMA), consensus 75c... First Horizon (FHN), consensus 20c.
10:00 EDTNBROn The Fly: Analyst Initiation Summary
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07:40 EDTNBRNabors Industries initiated with a Neutral at Citi
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July 15, 2015
12:37 EDTNLYAnnaly Capital jumps 0.8% to $9.60 after Gundlach discloses position
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12:36 EDTNLYGundlach says bought Annaly position few weeks ago
Gundlach sees "some safety" built into Annaly share price. Says "likes" Annaly stock. Doubleline Capital's Jeff Gundlach continues speaking on CNBC.
07:20 EDTCMAComerica July volatility increases into Q2 and outlook
Comerica July call option implied volatility is at 38, August is at 24, September is at 22 compared to its 52-week range of 17 to 34, suggesting large near term price movement into the expected release of Q2 results on July 17.
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