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March 17, 2014
10:03 EDTAGU, PSA, SI, POST, LO, AHT, SAP, RNF, WTS, STAA, PTEN, CVLT, ALDW, KOG, POT, TCP, REGN, MMLP, BHIOn The Fly: Analyst Upgrade Summary
Alon USA Partners (ALDW) upgraded to Buy from Neutral at Citigroup... Ashford Hospitality (AHT) upgraded to Outperform from Market Perform at JMP Securities... Baker Hughes (BHI) upgraded to Buy from Neutral at Goldman... CommVault (CVLT) upgraded to Buy from Neutral at Mizuho... Lorillard (LO) upgraded to Buy from Neutral at Goldman... Martin Midstream Partners (MMLP) upgraded to Buy from Neutral at UBS... Patterson-UTI Energy (PTEN) upgraded to Conviction Buy from Neutral at Goldman... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Regeneron (REGN) upgraded to Buy from Neutral at Citigroup... STAAR Surgical (STAA) upgraded to Buy from Hold at Canaccord... Siemens (SI) upgraded to Buy from Neutral at BofA/Merrill... TC PipeLines (TCP) upgraded to Buy from Neutral at UBS... Watts Water (WTS) upgraded to Buy from Hold at BB&T... Public Storage (PSA) upgraded to Outperform from Neutral at Macquarie... Potash (POT) upgraded to Market Perform from Underperform at Cowen... Rentech Nitrogen (RNF) upgraded to Market Perform from Underperform at Cowen... Agrium (AGU) upgraded to Market Perform from Underperform at Cowen... Kodiak Oil & Gas (KOG) upgraded to Buy from Accumulate at KLR Group... SAP (SAP) upgraded to Buy from Neutral at Citigroup.
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July 22, 2015
12:17 EDTBHIHalliburton-Baker Hughes deal to face antitrust hurdle in U.S., Bloomberg says
10:01 EDTREGNOn The Fly: Analyst Initiation Summary
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09:35 EDTBHIBaker Hughes results suggest prolong recovery, says Susquehanna
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08:39 EDTREGNRegeneron initiated with a Market Perform at Northland
Northland analyst James Kuo started shares of Regeneron Pharmaceuticals with a Market Perform rating and $500 price target. Pointing out that shares are up 34% year-to-date and 80% year-over-year, Kuo prefers to watch the upcoming launch of Praluent from the sidelines.
08:26 EDTPOTK+S preparing for possible hostile bid from Potash, Wirtschaftswoche reports
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July 21, 2015
13:14 EDTPOTK+S says new Potash offer not enough for takeover talks, Reuters says
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12:47 EDTREGNPiper confident in Regeneron approval by Friday
After Amgen's (AMGN) Repatha received marketing authorization in Europe, making it the first of the anti-PCSK9 antibody to be approved worldwide, Piper Jaffray analyst Edward Tenthoff expressed confidence that Regeneron (REGN) and Sanofi's (SNY) anti-PCSK9 antibody Praluent will be approved by Friday's FDA action date. Tenthoff believes Praluent will eventually be a blockbuster drug, but anticipates the launch to be slow. He keeps a Neutral rating on Regeneron with a $484 price target.
10:01 EDTSAPSAP NS2 announces strategic partnership with Virtustream
SAP National Security Services, an independent, U.S. based subsidiary of SAP, announced a strategic partnership with Virtustream to support SAP NS2ís goal of providing FedRAMP compliant services. The new partnership allows agencies to streamline the time to deployment of software solutions and to scale their SAP HANA landscapes with on-demand capacity, all while adhering to the necessary security controls and policies identified through the FedRAMP process.
08:11 EDTBHIBaker Hughes expects North America rig counts to remain unchanged in 2015
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08:10 EDTBHIBaker Hughes reports Q2 North America revenue down 47% to $1.5B
The drop in revenue is primarily attributable to the reduction in customer spending, which has resulted in a steep decline in onshore and shallow water activity, and an unfavorable pricing environment. Reports Q2 Latin America revenue down 19% to $439M, largely result of sharp activity reductions in the Andean area, as reflected in a 43% drop in the rig count, and in Venezuela from decreased operations and unfavorable exchange rates. In Brazil and Mexico, activity reductions were more than offset by offshore share gains. reports Q2 Europe/Africa/Russia Caspian revenue down 22% to $869M, impacted by $100M related to the unfavorable change in foreign exchange rates. Reports Q2 Middle East/Asia Pacific revenue down 22% to $856M, driven primarily by lower activity throughout Asia Pacific, as reflected in the 12% drop in the rig count, and in Iraq as result of a reduction to our integrated operations, including exiting a large turnkey contract in mid-2014. Reports Q2 Industrial Services down 8% to $306M.
08:09 EDTBHIBaker Hughes expects unfavorable market dynamics to persist in 2H15
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08:08 EDTBHIBaker Hughes says Q2 negatively impacted by deteriorating pricing, currency
CEO Martin Craighead commented, "Even though the severity of the revenue decline has compressed our margins, we have minimized the impact by aggressively reducing costs and rightsizing our operational footprint. These actions have resulted in decremental margins of 35% compared to the prior year, a significant improvement from the prior industry downturn. Furthermore, earnings for the quarter were impacted by an unfavorable tax rate which resulted primarily from a change in the geographic mix of earnings."
08:07 EDTBHIBaker Hughes reports Q2 adjusted EPS (14c), consensus (13c)
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07:20 EDTBHIHalliburton has 90% upside potential over 3 years, says Citi
Citi analyst Scott Gruber believes regulatory approval for Halliburton's (HAL) proposed acquisition of Baker Hughes (BHI) is a "high probability event." Halliburton's buyback potential post-acquisition looks significant, Gruber tells investors in a research note. He estimates $5.00 of pro forma earnings per share for Halliburton in 2018, suggesting 90% upside potential for shares over the next three years. The analyst notes that applying a 16 times earnings multiple yields a $78 share price. He keeps a Buy rating on Halliburton with a $54 price target. The oil services company closed yesterday up 75c to $40.74 after reporting Q2 results.
05:26 EDTSAPSAP backs FY15 non-IFRS cloud subscriptions, support revenue EUR 1.95B-EUR 2.05B
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05:22 EDTSAPSAP reports Q2 EPS EUR 0.39 vs. EUR 0.47 last year
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July 20, 2015
15:01 EDTBHINotable companies reporting before tomorrow's open
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12:40 EDTSAPEarnings Watch: IBM up 4% since last quarterly report
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07:04 EDTBHIHalliburton incurred $67M after-tax for costs related to Baker Hughes deal in Q2
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07:03 EDTBHIHalliburton says 'pleased' with progress of Baker Hughes acquisiton
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