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August 19, 2014
10:13 EDTTK, FDO, EAT, WWW, MDAS, EVEP, AXP, URBN, HPY, CRZO, AFAMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Almost Family (AFAM) upgraded to Buy from Hold at Jefferies... American Express (AXP) upgraded to Neutral from Underperform at Macquarie... Brinker (EAT) upgraded to Buy from Hold at Wunderlich... Carrizo Oil & Gas (CRZO) upgraded to Accumulate from Hold at Tudor Pickering... EV Energy (EVEP) upgraded at Raymond James... Family Dollar (FDO) upgraded to Equal Weight from Underweight at Barclays... Heartland Payment (HPY) upgraded to Outperform from Market Perform at Keefe Bruyette... MedAssets (MDAS) upgraded to Outperform from Market Perform at Leerink... Teekay (TK) upgraded to Strong Buy from Outperform at Raymond James... Urban Outfitters (URBN) upgraded to Outperform from Neutral at RW Baird... Wolverine World Wide (WWW) upgraded at KeyBanc.
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September 3, 2015
07:36 EDTEVEPEV Energy sees Q4 production from recent acquisitions 4,970-5,150 Mmcfe
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07:34 EDTEVEPEV Energy acquires $259M in properties from EnerVest Institutional Partnerships
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September 1, 2015
08:10 EDTCRZOSunTrust identifies E&P companies with 'most optionality'
SunTrust says that Carrizo Oil & Gas (CRZO), Concho Resources (CXO), Gulfport Energy (GPOR), and PDC Energy (PDCE) "can thrive" if oil prices rise to $55 per barrel and can "easily survive" if oil prices fall to $35 per barrel. The firm says these four companies are "best positioned to take advantage of either type of oil environment." It keeps Buy ratings on all four names.
August 31, 2015
09:45 EDTAFAMAlmost Family completes acquisition of Willcare
Almost Family announced that it has completed the previously announced acquisition of the stock of Willcare Health Care. With this acquisition, Almost Family will operate over 230 branches across 15 states and its annual net revenue run rate is expected to approach the $600M mark. The purchase price for the stock was $50.5M, and is subject to no further adjustment. The transaction was funded with borrowings on the company's senior secured revolving credit facility. Excluding certain non-profitable Connecticut operations which were discontinued during the period, the acquired operations generated total revenues of approximately $29.4M, $27.5M of which was in New York, branch contribution of $4.7M and home office costs of approximately $3.1M in the six months ended June 2015. The company expects to realize home office synergies of approximately $2M on a comparable period basis when integration activities have been completed. The company expects to incur transaction, transition and wind-down expenses of $1.5M over the balance of 2015.
09:09 EDTHPYMP Associates to hold a conference
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August 26, 2015
11:01 EDTURBNAbercrombie & Fitch surges after posting surprise Q2 profit
Abercrombie & Fitch spiked in early trading after the clothing retailer posted second quarter profit and revenue that exceeded analysts' expectations. WHAT'S NEW: Abercrombie & Fitch reported Q2 earnings per share of 12c, excluding items, on revenue of $817.8M, beating analysts' consensus estimates of a loss per share of (4c) and $811.46M, respectively. Including items, EPS was (1c). Abercrombie said the quarter included a comparable sales decrease of 4% and an adverse impact from changes in foreign currency exchange rates of about 5%. For the quarter, SSS declined 7% at the Abercrombie brand and 1% at Hollister. Executive Chairman Arthur Martinez commented that the quarterly results exceeded what the retailer signaled on its first quarter earnings call and said he is confident "that we are on the right track, although we recognize that we still have much to achieve." Looking ahead, Abercrombie & Fitch sees SSS trends improving in the second half of 2015, skewed towards the fourth quarter. The company expects continued headwinds from foreign currency exchange rates, a gross margin rate approximately flat to last year and flat operating expense compared to last year. Additionally, Abercrombie said it plans to open 15 full-price stores this fiscal year, in markets including China and Japan, and will close about 60 stores in the U.S. during the year. WHAT'S NOTABLE: Abercrombie is in the midst of a massive turnaround and announced the creation of six new positions as it restructures the management of its Abercrombie brand. The move is part of an effort to organize executives by brand rather than product after announcing last year that it would move away from logos. On its earnings conference call this morning, Abercrombie executives said that the company is "not naive" about the challenges it faces, but believes it is "on the right track" to restoring the business to health. Abercrombie said a new chief executive officer will be appointed "in due time." OTHERS TO WATCH: Abercrombie & Fitch peers include Urban Outfitters (URBN), American Eagle (AEO) and Express (EXPR). PRICE ACTION: Abercrombie & Fitch is up 11.75% in morning trading to $19.30.
August 25, 2015
16:51 EDTEATBrinker Chief Development Officer Roger Thomson to retire on June 30, 2016
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08:40 EDTMDASMedAssets expands relationship with University Health Shreveport
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August 24, 2015
07:59 EDTEVEPEV Energy downgraded to Underperform from Neutral at Baird
Baird downgraded EV Energy to Underperform from Neutral citing its onerous cost of equity and the potential for another distribution cut. Baird lowered its price target to $5 from $13 on EV Energy shares.
August 23, 2015
13:58 EDTAXPAmerican Express faces challenging year, Barron's says
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August 21, 2015
10:32 EDTURBNOptions with decreasing implied volatility
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August 20, 2015
17:02 EDTEATBrinker increases dividend 14%, authorizes $250M stock repurchase
The board for Brinker International declared a quarterly dividend of 32c per share on the common stock, representing a 14% increase in Brinker's quarterly dividend. The dividend will be payable Sept. 24 to shareholders of record as of Sept. 4. Brinker's board also authorized an additional $250M in share repurchases. With the additional amount, Brinker will have approximately $567M in available authorization.
10:28 EDTURBNOptions with decreasing implied volatility
Options with decreasing implied volatility: KING JCP URBN DKS JWN HIG ADI DAR LOW TJX
10:00 EDTAXPOn The Fly: Analyst Initiation Summary
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08:15 EDTAXPAmerican Express initiated with a Hold at Evercore ISI
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