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February 27, 2013
15:21 EDTMYL, JCP, CSGP, WES, MNST, GRPN, ANW, PLL, LTD, BOOMCompanies reporting After the Market Close on Wednesday, February 27
Notable companies reporting after the closing bell on Wednesday include Aegean Marine Petroleum Network (ANW), CoStar Group (CSGP), Dynamic Materials (BOOM), Groupon (GRPN), J C Penney (JCP), Limited Brands (LTD), Monster Beverage (MNST), Mylan (MYL), Pall (PLL), and Western Gas Partners (WES).
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November 19, 2015
16:34 EDTANWAegean Marine reports Q3 EPS 25c, consensus 24c
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15:29 EDTMYLMylan confirms first-to-file patent challenge relating to Delzicol
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13:52 EDTMYLMylan announces U.S. launch of generic Adderall tablets
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11:02 EDTCSGPCoStar Group names Scott Wheeler CFO
CoStar Group announced that it has named Scott Wheeler CFO. Prior to joining CoStar Group, Wheeler served at Experian as CFO of both Experian North America as well as Experian Global Technology Services.
November 18, 2015
12:59 EDTCSGPCoStar Group management to meet with William Blair
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10:08 EDTGRPNGoPro sinks after analyst finds cameras on flash sales sites
The shares of action camera maker GoPro (GPRO) are sinking and hit a new 52-week low after research firm Piper Jaffray reported that the company has been offering significant discounts on its cameras. WHAT'S NEW: GoPro's cameras have been selling on flash sales websites such as Zulily (ZU) and Groupon (GRPN) at price discounts of 16%-34%, Piper analyst Erinn Murphy wrote in a note to investors today. As a result of these discounts and the 147% increase in GoPro's inventory at the end of the third quarter, the analyst is concerned that the company's gross margin could be pressured. In addition to the discounts GoPro is offering on the flash websites, the camera maker cut the price of its GoPro Session camera on Amazon to $299 from $399 in September and there has been "select downward price movement" on two more of its cameras on Amazon, Murphy reported. The analyst continues to expect GoPro's Q4 earnings per share to come in at 34c, versus analysts' consensus estimate of 41c. She slashed her fiscal 2016 EPS estimate for the company to $1.03 from $1.35, versus the consensus outlook of $1.37. Murphy reduced her price target on the stock to $15 from $20 and kept an Underweight rating on the name. WHAT'S NOTABLE: Ambarella (AMBA) makes chips used in GoPro's cameras. Best Buy (BBY), which is due to report its results tomorrow, sells GoPro's cameras. PRICE ACTION: In early trading, GoPro fell 8% to $19.19. Earlier today, it hit a new 52-week low of $19.04.
09:34 EDTGRPNActive equity options trading on open
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08:22 EDTMYLMylan resinstated with an Overweight at JPMorgan
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06:02 EDTMYLPerrigo upgraded to Buy from Neutral at B. Riley
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November 17, 2015
10:13 EDTJCPJ.C. Penney management to meet with Buckingham
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10:11 EDTMYLOptions with decreasing implied volatility
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07:34 EDTMYLMylan launches Almotriptan Tablets USP in the U.S.
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November 16, 2015
16:29 EDTJCPJ.C. Penney announces plans to retire $500M asset-based term loan
J. C. Penney Company announced that it has received $500M of incremental bank commitments to increase the size of the Revolving Line of Credit under its existing Senior Secured Asset-Based Credit Facility to $2.35B from $1.85B. In connection with upsizing the revolving credit facility, the Company also intends to prepay and retire the outstanding principal amount of its $500M Term Loan previously issued under the ABL, which is scheduled to mature in June 2019. The Company expects to close these transactions in December.The Company expects that retirement of the ABL Term Loan will reduce interest expense by approximately $20M annually, beginning in 2016. The $2.35B ABL revolving line of credit, which will also mature in June 2019, will remain available for seasonal working capital needs and general corporate purposes. Marvin Ellison, chief executive officer, said, "We proactively pursued this transaction to reduce our long-term debt and ongoing interest expense and to further enhance our financial flexibility while maintaining our strong liquidity position as we continue to make progress on our goal of $1.2B in EBITDA by 2017."
12:01 EDTCSGPCoStar Group management to meet with Needham
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11:42 EDTMYLMylan announces $1B share repurchase plan
Mylan announced that the Board of Directors of Mylan has authorized share repurchases by the company of its ordinary shares in an amount up to $1B, either in the open market through privately-negotiated transactions or in one or more self tender offers. The repurchase program does not obligate the company to acquire any particular amount of ordinary shares. The authorization expires on August 27, 2016.
11:35 EDTJCPDillard's sinks to 52-week low after joining chorus of 'disappointed' retailers
Shares of Dillard's (DDS), a retailer of fashion apparel, cosmetics and home furnishing, are falling to their worst level in a year after the company became the latest in its industry to report lower than expected third quarter results. WHAT'S NEW: This morning, Dillard's reported Q3 earnings per share of $1.19 and revenue of $1.435B, narrowly missing analysts' consensus estimates of $1.20 and $1.49B, respectively. Same-store sales for the quarter fell 4%. Total merchandise sales decreased 3% for the 13-week period ended October 31. Weaker performing categories were men's apparel and accessories and ladies' accessories and lingerie with notable weakness in home and furniture the company explained. Dillard's Chief Executive Officer, William T. Dillard, II, stated, "We are disappointed with our third quarter sales performance and in the resulting decline in profit. Share buyback remained a high priority, and we repurchased $175 million of stock under our share repurchase program." WHAT'S NOTABLE: Gross margin from retail operations improved 11 basis points of sales for the 13 weeks ended October 31 compared to the prior year third quarter. Consolidated gross margin for the 13 weeks ended October 31 declined 30 basis points of sales compared to the prior year third quarter. The disparity between retail and consolidated gross margin performance is attributable to increased revenue at CDI, which is a substantially lower margin business. Inventory increased 6% at October 31 compared to November 1, 2014. For FY15, the company expects capital expenditures of $150M. PRICE ACTION: In late morning trading, Dillard's fell $5.81, or 7.5%, to $71.79 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $68.05. Including today's pull back, the shares have lost about 36% over the past 12 months. OTHERS TO WATCH: Other apparel, cosmetics and home furnishing retailers include Macy's (M), Kohl's (KSS), JC Penny (JCP), Sears (SHLD) and Nordstrom (JWN).
09:26 EDTGRPNGroupon closes operations in Nordic countries, Breakit reports
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07:40 EDTMYLMylan launches generic Viramune XR ER tablets, 100mg
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07:32 EDTMYLMylan launches generic GLUCOTROL XL tablets
Mylan (MYL) announced the U.S. launch of Glipizide Extended-release Tablets, 5 mg and 10 mg, the generic version of Pfizer's (PFE) GLUCOTROL XL. Mylan received final approval from the FDA for its Abbreviated New Drug Application for this product, which is indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. Glipizide Extended-release Tablets, 5 mg, and 10 mg, had U.S. sales of approximately $70.7 million for the 12 months ending September 30, 2015, according to IMS Health.
07:16 EDTMYLHayman Capital gives quarterly update on stakes
NEW STAKES: Impax (IPXL), CF Industries (CF), GW Pharmaceuticals (GWPH), ProNAi Therapeutics (DNAI). INCREASED STAKES: BioMarin (BMRN), NMI Holdings (NMIH), Vertex (VRTX), Endo (ENDP). DECREASED STAKES: Mylan (MYL). LIQUIDATED STAKES: Perrigo (PRGO), Oasis Petroleum (OAS), Whiting Petroleum (WLL), Newfield Exploration (NFX), SM Energy (SM).
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