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June 16, 2014
10:10 EDTADS, STO, OMI, NTRI, NCQ, EXC, EDAP, CSGP, AXP, SEMIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Alliance Data (ADS) initiated with an Outperform at Pacific Crest... American Express (AXP) initiated with a Sector Perform at Pacific Crest... CoStar Group (CSGP) initiated with a Buy at BofA/Merrill... EDAP TMS (EDAP) initiated with a Buy at H.C. Wainwright... Exelon (EXC) reinstated with an Outperform, added to Focus List at Credit Suisse... NovaCopper (NCQ) initiated with a Buy at H.C. Wainwright... Nutrisystem (NTRI) initiated with an Outperform at Barrington... Owens & Minor (OMI) initiated with a Market Perform at Wells Fargo... Statoil (STO) initiated with an Underperform at Jefferies... SunEdison Semiconductor (SEMI) initiated with a Buy at Deutsche Bank.
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October 15, 2014
16:05 EDTAXPAmerican Express reports Q3 card member spending up 9% YoY
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16:03 EDTAXPAmerican Express reports Q3 U.S. card services net income $889M, up 14% YoY
Reports Q3 International card services net income $142M, unchanged from a year ago.
16:02 EDTAXPAmerican Express reports Q3 EPS $1.40, consensus $1.36
Reports Q3 revenue $8.33B, consensus $8.35B.
15:28 EDTADSNotable companies reporting before tomorrow's open
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15:28 EDTAXPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.36; eBay (EBAY), consensus 67c; Kinder Morgan (KMI), consensus 34c; Kinder Morgan Energy Partners (KMP), consensus 64c; Kinder Morgan Management (KMR), consensus 58c; El Paso Pipeline Partners (EPB), consensus 39c; Netflix (NFLX), consensus 93c; United Rentals (URI), consensus $2.08; Navient (NAVI), consensus 52c; Las Vegas Sands (LVS), consensus 58c; Umpqua Holdings (UMPQ), consensus 29c; Astoria Financial (AF), consensus 16c; Rambus (RMBS), consensus 5c.
12:04 EDTAXPAmerican Express reports September write-off ate 1.2% vs. 1.5% last month
Reports September 30 days past due loans 1.0% vs. 0.9% last month.
09:20 EDTSTOOn The Fly: Pre-market Movers
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08:09 EDTEXCExelon, Chicago Bridge & Iron and 8 Rivers partner for demonstration plant
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07:33 EDTADSAlliance Data reports September private label charge-offs $27.24M
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06:22 EDTSTOStatoil names Eldar Saetre as acting president and CEO
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06:21 EDTSTOBG Group names Statoil's Helge Lund as CEO, effective March 2, 2015
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05:31 EDTSTOStatoil CEO Lund to resign, appoints Eldar Sætre as acting CEO
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October 14, 2014
13:28 EDTNTRIClinton Group says private equity firm could pay $23 per share for Nutrisystem
In a letter to Nutrisystem, Clinton Group said, "We stand by our suggestions to do a leveraged buyback or increase the dividend today, but recognize that such transactions may not be enough to cure the valuation discount in the equity markets. We believe therefore the Board should consider carefully whether Nutrisystem should remain a public company at all. We are aware of private equity firms that are interested in discussing a buyout in which the current management team would remain in place but the company would be privately held. Given the Nutrisystem's superior brand and cash flow prospects for the business, we believe such a going-private transaction could garner a substantial premium for the public market investors while affording the private equity buyer of Nutrisystem attractive returns. We have modeled that a private equity firm could pay $23 per share for Nutrisystem (a 50% premium to today's prevailing prices) and still reasonably expect to earn an IRR above 20%. In the meantime, we urge the company to use its cash to buy back its own stock at these attractive prices. Obviously, the more stock that you buy at these prices, the more a private equity buyer can pay in a going-private transaction for the remainder of the outstanding stock."
13:21 EDTNTRIClinton Group urges Nutrisystem to sell itself
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09:04 EDTSTOStatoil, Exxon Mobil announce additional discovery offshore Tanzania
Statoil (STO) and co-venturer Exxon Mobil (XOM) announced that the Giligiliani-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. The discovery of an additional 1.2 trillion cubic feet of natural gas in place in the Giligiliani-1 well brings the total of in-place volumes up to approximately 21 tcf in block 2. The Giligiliani-1 discovery is the venture’s seventh discovery in block 2. Statoil operates the licence on block 2 on behalf of Tanzania Petroleum Development Corporation and has a 65% working interest. ExxonMobil Exploration and Production Tanzania Limited holds the remaining 35%.
07:32 EDTADSAlliance Data business signs agreement with Katz Group Canada
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October 13, 2014
07:19 EDTAXPAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
07:15 EDTAXPNational Association of Corporate Directors to hold a conference
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05:18 EDTSTOStatoil sells 15.5% share in Shah Deniz to PETRONAS for $2.2B
Statoil has sold its 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline Company, or SCPC, 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Company, or AGSC, to the Malaysian oil and gas company PETRONAS. The transaction value is $2.25B. Statoil's Q2 production from the Shah Deniz field was 38,000 barrels of oil equivalent per day. The effective date is January 1. The transaction is expected to be closed early 2015, subject to approval from the relevant authorities.
05:16 EDTSTOStatoil sells 15.5% share in Shah Deniz to PETRONAS for $2.2B
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