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Stock Market & Financial Investment News

News For APL;ADBE;MSFT From The Last 14 Days
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October 13, 2014
09:09 EDTMSFTMicrosoft Q1 results likely to beat expectations, says Bernstein
Bernstein believes that Microsoft's cloud business continues to grow, and it expects adoption of the company's cloud products to accelerate this quarter. The firm reiterates a $56 price target and Outperform rating on the shares.
08:38 EDTAPLTarga Resources Partners to increase dividend by 4c post-closing
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08:17 EDTAPLTarga Resources Partners and Targa Resources to host conference call
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07:57 EDTAPLTarga Resources CEO says acquisition is 'compelling strategic opportunity'
Joe Bob Perkins, CEO of the Targa Resources and of the general partner of the Partnership, stated, "Both the Targa and Atlas management teams and our boards view this integrated transaction as a highly compelling strategic opportunity to combine two outstanding midstream businesses and create value for all shareholders and unitholders. We believe the combination provides our customers an enhanced midstream service offering, and presents our investors with an enterprise that has increased scale, diversity and growth. The acquisitions will significantly and immediately increase our scale and geographic diversity, accelerating the growth of our premier North American midstream platform. APL's footprint solidifies the Partnership's position as a leader in the Permian Basin, while adding top-tier assets in the Midcontinent and South Texas regions. Importantly, the combination of APL's NGL production with Targa Resources Partners' leading NGL downstream assets will allow the pro forma partnership to generate additional revenue along the NGL value chain, create additional attractive growth capital expenditure projects and accelerate current growth capital expenditure projects." The boards of the partnership (NGLS), the company (TGRP), ATLS (ATLS) and APL (APL) have each approved the respective merger agreements. Subject to the completion of the spin-off and customary approvals and conditions, including the expiration or termination of all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, the acquisitions are expected to close in 1Q15. The respective boards of APL, ATLS and the Company have voted to recommend the transaction to their unitholders and shareholders.
07:50 EDTAPLAtlas Energy to spin-off non-midstream assets prior to acquisition by Targa
Prior to Targa Resources' (TRGP) acquisition of Atlas Energy (ATLS), ATLS will spin-off its non-midstream assets. After giving effect to the spin-off, ATLS's assets will solely comprise its general partner and incentive distribution rights interests in APL and 5.8M APL common units. Immediately following the spin-off and subject to the concurrent closing of the Partnership's acquisition of APL, Targa Resources will acquire Atlas Energy for total consideration of $1.87B, including 10.35M TRC shares valued at $1.26B based on the closing price of TRC's common stock on October 10 and $610M in cash. Targa Resources has arranged committed financing of $1.1B to replace its existing revolving credit facility and to fund the cash components of the transaction, including cash merger consideration and $149M related to change of control payments. Based on shares of TRC and units of ATLS outstanding as of September 30, current Targa Resources shareholders will own approximately 80% of the pro forma shares outstanding and current ATLS unitholders will own approximately 20%.
07:48 EDTAPLTarga Resources sees 11%-13% distribution growth in 2015 following acquisition
For the Partnership, management expects to recommend a distribution increase 4c per limited partner unit at the first Bboard distribution declaration meeting after the transaction closes; which is expected to be in the first quarter of 2015. Assuming a first quarter close, the Partnership estimates full year 2015 pro forma distribution growth over full year 2014 of 11% – 13%, and expects distribution coverage to be at or above the Partnership's stated target range of 1.1x – 1.2x. In conjunction with the Partnership recommendation, management expects to recommend a dividend increase of 10c per share for Targa Resources following the closings of the transactions. Assuming a first quarter close and 11%-13% distribution growth at the Partnership, the company estimates full year 2015 pro forma dividend growth over full year 2014 of approximately 35%. The Company's estimated 2015 effective cash tax rate pro forma for the transaction is expected to be 10%-15% compared to 33% on a standalone basis. Targa Resources Corp. expects $1.00 - $2.00 per share dividend accretion over the long term
07:46 EDTAPLTarga Resources to acquire Atlas Pipeline Partners, Atlas Energy
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07:44 EDTAPLTarga Resources to acquire Atlas Pipeline Partners, Atlas Energy
07:15 EDTMSFTNational Association of Corporate Directors to hold a conference
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October 9, 2014
13:39 EDTMSFTMicrosoft says committed to Surface Pro 3
Microsoft's Brian Hall acknowledged in a post to the company's Surface blog that the company has recently received a lot of interest and questions from businesses about Microsoft’s longer-term commitment to Surface is in businesses of all sizes. Surface Pro 3 will continue to support Windows 8.1 and be upgrade-able when Windows 10 is released, Hall stated. Hall also announced a limited-time Surface Laptop Replacement Bundle that provides up to $150 off of a Surface Pro 3, Type Cover and Docking Station when purchased together, available through Microsoft's authorized resellers in the U.S. starting immediately. "Businesses can buy with confidence. We are here to stay," Hall, the General Manager for Surface, stated in concluding the blog post. The Fly notes that DigiTimes, citing sources from the upstream supply chain, reported earlier that Microsoft may be planning to cancel the Surface tablet business as it continues to see weak sales for the Surface Pro 3. Reference Link
10:00 EDTMSFTOn The Fly: Analyst Initiation Summary
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09:38 EDTMSFTActive equity options trading on open
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09:01 EDTMSFTSony moves step further toward sale of PS4 in China, WSJ says
Sony (SNE), which seeks to join Microsoft (MSFT) in selling video game consoles in China, may see a partner company start packaging its consoles in the nation in December, said The Wall Street Journal, citing a filing posted by a Sony local partner on the official website of Shanghai’s free-trade zone. A Sony spokesperson said the facility's ability to package 200,000 consoles a year, which was communicated in the filing, does not represent an actual business plan and declined to comment further on Sony’s plans. Reference Link
08:53 EDTMSFTAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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06:42 EDTMSFTMicrosoft CEO admits 'mistakes' with Windows 8, Business Insider reports
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06:41 EDTMSFTMicrosoft initiated with a Market Perform at BMO Capital
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06:31 EDTMSFTFiling says Sony to begin console packaging in China, Bloomberg says
A filing on the website of the China Pilot Free Trade Zone said that Sony (SNE) is aiming to begin packaging over 200K new video game consoles starting in December in China, according to Bloomberg, citing the filing which was verified as authentic by a spokesman for Sony Computer Entertainment. The company is looking to accumulate sales in the country as the end of a 14-year ban on the devices approaches. Microsoft (MSFT) already began selling Xbox Ones in China. Reference Link
06:24 EDTMSFTMicrosoft rumored to cancel Surface tablet business, DigiTimes reports
Microsoft may be planning to cancel the Surface tablet business as it continues to see weak sales for its Surface Pro 3 tablet, reports DigiTimes. According to sources from the upstream supply chain, the first and second generation Surface tablets are estimated to have created losses of about $1.7B. Reference Link
October 8, 2014
16:56 EDTMSFTGartner says worldwide PC shipments in Q3 declined 0.5%
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06:13 EDTMSFTNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
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