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July 21, 2014
09:10 EDTMCD, EXTR, KNDI, LO, TSLA, HAS, YUM, VRX, EGAS, RAI, AGN, PETS, HAL, GPRO, MO, EMCOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
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January 25, 2016
08:04 EDTMCDMcDonald's returned $2.3B to shareholders in Q4
The company returned $2.3 billion to shareholders through share repurchases and dividends in the fourth quarter and $9.4 billion for the full year. This brings the cumulative return to shareholders to $15.8 billion against our targeted return of about $30 billion for the three-year period ending 2016.
08:02 EDTMCDMcDonald's reports Q4 global comparable sales up 5%
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08:01 EDTMCDMcDonald's reports Q4 EPS ex gain $1.28, consensus $1.23
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07:12 EDTVRXValeant releases memo for employees from Michael Pearson
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06:54 EDTHALHalliburton: 2016 expected to be another challenging year
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06:53 EDTHALHalliburton recorded charges related to asset write offs, severance costs
As a result of the downturn in the energy market and its corresponding impact on the company's business outlook, Halliburton recorded company-wide charges related primarily to asset write-offs and severance costs of approximately $192 million, after-tax, or 22c per diluted share, in the fourth quarter. Halliburton recorded Baker Hughes acquisition-related costs of $79M, after-tax, or 9c per diluted share, in the fourth quarter of 2015. Halliburton also incurred $27M, after-tax, or 3c per diluted share, of interest expense associated with the $7.5B debt issuance in the fourth quarter of 2015.
06:52 EDTHALHalliburton reports Q4 adjusted EPS cont ops 31c, consensus 24c
Reports Q4 revenue $5.08B, consensus $5.11B
06:34 EDTMCDMcDonald's to open over 60 locations in Russia in 2016, Reuters reports
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05:51 EDTHALOptions expected to be active: TYC JCI TWTR SUNE AAPL PG HAL AMZN FB
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January 24, 2016
14:40 EDTEMCCollapse in private tech could ripple into public markets, Barron's says
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January 22, 2016
14:46 EDTTSLAEinhorn short Tesla, Netflix, Amazon, Institutional Investor's Alpha says
Greenlight Capital's David Einhorn told attendees to his firm's annual meeting that he is making short bets against high-fliers Tesla (TSLA), Netflix (NFLX) and (AMZN), according to Institutional Investor's Alpha, citing a source who heard the presentation. Reference Link
14:44 EDTTSLADavid Einhorn short Tesla, Netflix, Amazon, Institutional Investor's Alpha says
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14:19 EDTMCDMcDonald's January weekly 118 straddle priced for 4.5% movement into Q4
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14:13 EDTMCDEarnings Watch: Analysts upbeat on McDonald's ahead of Q4 earnings report
McDonald's (MCD) is scheduled to report fourth quarter earnings before the market open on Monday, January 25, with a conference call scheduled for 11:00 am ET. McDonald's franchises and operates fast food restaurants globally. EXPECTATIONS: Analysts are looking for earnings per share of $1.23 on revenue of $6.22B, according to First Call. The consensus range for EPS is $1.14-$1.36 on revenue of $5.98B-$6.45B. LAST QUARTER: McDonald's reported third quarter EPS of $1.40 on revenue of $6.62B, beating analysts' consensus estimates of $1.28 and $6.41B, respectively. The company reported that Q3 global comparable sales were up 4% year-over-year, with U.S. SSS up 0.9%, international lead markets SSS up 4.6% and high growth markets segment SSS up 8.9%. The company forecast positive SSS "in all segments" for Q4. NEWS: At its November 10 investor meeting, McDonald's said that while it has given a REIT structure "serious consideration," it said it would not pursue it "as the risk is too great." Chief Administrative Officer Pete Bensen commented that a "spin-off was closely considered given its potential tax advantages and current market trading multiples. Our review went beyond financial measures and evaluated the impact on all stakeholders, including our shareholders' long-term interests. We have concluded that any potential value creation from a REIT is out-weighed by the significant financial and operational risks to our business and the continued progress of our turnaround." Steve Easterbook, the company's president and chief executive officer, said that the company plans to increase the cash return to shareholders target to about $30B for the three-year period ending 2016. In addition to reaffirming its forecast for positive SSS in all segments in Q4, McDonald's raised its quarterly dividend 5% to 89c per share. For fiscal year 2016, McDonald's forecast systemwide sales growth of 3%-5%, operating income growth of 5%-7% and capital expenditures of $2B, split between opening about 1,000 new restaurants and reinvesting in existing restaurants. In December, the European Commission opened a formal probe into Luxembourg's tax treatment of McDonald's, and said it believed that a tax ruling granted by Luxembourg may have granted McDonald's an advantageous tax treatment in breach of EU State aid rules. STREET RESEARCH: On the day after its last earnings report, McDonald's was upgraded at Piper Jaffray, and its price target was raised at Deutsche Bank and Stephens. Wells Fargo said McDonald's is poised for "sustained momentum." Following its investor day, Piper Jaffray analyst Nicole Miller Regan said she remained a buyer after management reiterated confidence in positive global SSS trends and their current strategies will lead to strong cash flow. Sterne Agee CRT and UBS were also upbeat after the investor meeting. Cleveland Research analyst Steven Gojak said last week that McDonald's U.S. comps finished "strong," adding that the momentum likely continued in early January. On January 19, BTIG analyst Peter Saleh upgraded McDonald's to Buy from Neutral and said he expects its recent trend of recapturing market share to continue. A day later, Nomura analyst Mark Kalinowski raised McDonald's Q4 U.S. SSS forecast to 4.1%, up 60bps, and 160 bps above the consensus estimate of 2.5%. The analyst noted that if McDonald's reports a 4.1% comp, when it reports Q4 earnings, it would mark McDonald's U.S. best quarterly SSS performance in the last 15 quarters. PRICE ACTION: McDonald's has gained about 6.5% over the past three months and is up 0.25% to $118.12 in afternoon trading ahead of Monday's Q4 earnings report.
11:53 EDTPETSPetMed Express technical comments ahead of earnings news
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11:39 EDTHALHalliburton technical comments ahead of results
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11:16 EDTMCDMcDonald's technical comments before results
The stock is trading in the middle of a recent trading range defined by a low at $115 and a high near the life high at $120. If the news is bullish, the life high is likely to be tested and possibly exceeded. Upside potential on a breakout based on the range would be to the $125 area. If the news is a negative surprise, the low of the range at $115 could be broken on the downside. Such a move would end the uptrend that began in late September of last year. Supports below $115 would be at $112.91, $109.85, and $105.20.
08:08 EDTMCDMcDonald's volatility elevated into Q4 and outlook
McDonald's January weekly call option implied volatility is at 45, February is at 29; compared to its 52-week range of 15 to 31, suggesting large near term price movement into the expected release of Q4 results on January 25.
08:07 EDTAGNAllergan announces FDA approved Botox for treatment of lower limb spasticity
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06:43 EDTHALHalliburton volatility elevated into Q4 and outlook
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