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News Breaks | | | | February 14, 2013 | | 06:07 EDT |  | STZ, BNPQY, DELL, GPMCF, NSRGY, BUD | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Some major U.S. hedge-fund investors have made billions betting against the yen, exploiting Japan's determination to weaken its currency and boost its economy. George Soros has scored gains of about $1B on the trade since November, sources say. Others include David Einhorn’s Greenlight Capital, Daniel Loeb’s Third Point LLC and Kyle Bass's Hayman Capital Management LP, investors say, the Wall Street Journal reports...A number of banks planned to withdraw from the panel that sets the London interbank offered rate, or Libor, but dropped the idea after the U.K.'s Financial Services Authority warned them against doing so, sources say. The FSA sent letters to some banks, including France's BNP Paribas (BNPQY) and the Netherlands' Rabobank Group, the Wall Street Journal reports...REUTERS: Anheuser-Busch InBev (BUD) revised terms of its $20.1B takeover of Grupo Modelo (GPMCF) to overcome U.S. objections that it would have restricted competition. The company said it agreed to sell Modelo's Piedras Negras brewery next to the U.S. border to Constellation (STZ) and grant it perpetual rights for Corona and other Modelo brands in the U.S., at a cost of $2.9B, Reuters reports...Nestle (NSRGY) expects 2013 to be as challenging as last year as the food group reported weaker-than-expected quarterly sales growth in Asia and the Americas, Reuters reports...BLOOMBERG: Dell (DELL) is scheduling meetings with shareholders to assess their demands for getting its $24.4B buyout done and also preparing a public response to critics of the deal, sources say, Bloomberg reports...U.S. realtors and mortgage bankers hope President Obama’s call for streamlining mortgage rules will lend new momentum to efforts to prevent imposing a strict minimum down payment for home loans, Bloomberg reports. | |
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News For BNPQY;BUD;GPMCF;STZ;NSRGY;DELL From The Last 14 Days Check below for free stories on BNPQY;BUD;GPMCF;STZ;NSRGY;DELL the last two weeks. |
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| May 20, 2013 | | 11:14 EDT |  | DELL | Dell to deliver public cloud through partner ecosystem
 Subscribe for More Information | | | 07:03 EDT | | DELL | Dell committee says cannot evaluate Icahn proposal without more information
Subscribe for More Information | | | May 17, 2013 | | 14:03 EDT |  | DELL | Market set to finish week with gains after Cisco results, comments
Subscribe for More Information | | | 08:29 EDT |  | DELL | JPMorgan's business and information services analyst holds a conference call
Subscribe for More Information | | | 08:02 EDT |  | DELL | Dell results could increase votes for Silver Lake offer, says Wells Fargo
Subscribe for More Information | | | May 16, 2013 | | 18:01 EDT | | DELL | Dell continues to expect 'relatively weak' demand in end-user PC business
Subscribe for More Information | | | 16:29 EDT | | STZ | On The Fly: Closing Wrap
Stocks on Wall Street were lower following some disappointing economic data and a hint from a regional Fed president that the central bank may taper its easing program in the coming months. The averages traded in a narrow range for much of the session before moving lower in the final hour of trading. Comments by San Francisco Fed president John Williams late in the afternoon, suggesting that the central bank may begin slowing its bond buying pace by the summer, may have spurred the late session selling. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares added $2.66, or 12.54%, to $23.87 to lead the blue chip index after the company's results beat expectations on the top and bottom lines. Wal-Mart fell $1.36, or 1.7%, to $78.50 after its first quarter earnings sand second quarter outlook missed the consensus forecast... Tesla Motors (TSLA) last night announced a stock and debt offering of more than $800M, with CEO Elon Musk announcing his intent to buy $100M of the offering, and shares of the electric car maker added $7.36, or 8.67%, to $92.20. MAJOR MOVERS: Among notable gainers was Aegerion (AEGR), up $14.73, or 31.37%, to $61.70 after the company said its Juxtapid treatment may have a $1B global market opportunity and at least two analyst firms raised their price targets on its shares. Also higher was Constellation Brands (STZ), up $1.52, or 3.03%, to $51.76 after the stock was upgraded at Stifel and ISI Group. Among noteworthy losers following analyst downgrades were AMD (AMD), which fell 55c, or 12.56%, to $3.83 after Goldman downgraded the stock to Sell, and CSC (CSC), which slid $2.12, or 4.74%, to $42.59 after being cut to Hold at Deutsche Bank. Also lower following its quarterly report was NetQin Mobile (NQ), down 72c, or 7.5%, to $8.88. INDICES: The Dow was down 42.47, or 0.28%, to 15,233.22; the Nasdaq was down 6.38, or 0.18%, to 3,465.24; and the S&P 500 was down 8.31, or 0.50%, to 1,650.47. | | | 16:05 EDT |  | DELL | Dell reports Q1 enterprise solutions, services, software revenue up 12% to $5.5B
Subscribe for More Information | | | 16:02 EDT | | DELL | Dell not providing guidance for Q2
Subscribe for More Information | | | 16:01 EDT | | DELL | Dell reports Q1 adjusted EPS 21c, consensus 35c
Reports Q1 revenue $14.1B, consensus $13.52B. | | | | 15:14 EDT | | DELL | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. | | | 13:58 EDT | | DELL | Earnings Preview: Dell facing uncertainty about going private ahead of Q1 report
Dell (DELL) is set to report Q1 earnings after the market close on Thursday, May 16, with a conference call scheduled for 4:45 pm ET. Dell is a global IT company that operates enterprise, business, and consumer segments. EXPECTATIONS: Analysts are looking for EPS of 35c on revenue of $13.52B, according to First Call. The consensus range for EPS is 28c-42c on revenue of $12.6B-$14.22B. A report by Dow Jones earlier this week said Dell will report non-GAAP EPS of 20c on revenue of about $14B. LAST QUARTER: Dell reported Q4 adjusted EPS of 40c against consensus for 39c on revenue of $14.3B against estimates for $14.12B. On its Q4 earnings conference call, the company said it expects continued margin pressure and market competitiveness in 2013. GO-PRIVATE NEWS: On February 5, Dell officially announced that it had agreed to be taken private for $13.65 per share by a consortium lead by Silver Lake. On March 25, Dell announced it had received two alternative proposals during its go-shop process, which began following its February 5 announcement. These proposals included a $14.25 per share offer from Blackstone (BX), and a $15 per share offer from Carl Icahn and affiliated funds, including Icahn Enterprises (IEP). On April 19, Dell announced that Blackstone decided not to submit a bid for the company. Last Friday, Icahn and Southeastern Asset Management, which collectively hold about a 13% stake in Dell, submitted an alternative proposal to Dell's board. The Icahn and Southeastern proposal would allow Dell shareholders to receive a $12 per share cash distribution or $12 of additional shares valued at $1.65 per share. On Monday, the special committee of Dell's board asked Icahn and Southeastern for more information related to proposal, while Icahn and Southeastern proposed a slate of directors to the company's board that same day. COMPANY NEWS: In addition to news surrounding the company's go-private proposal, data regarding global PC demand has also weighed on Dell. On April 10, data from IDC said worldwide PC shipments totaled 76.3M in Q1, a 13.9% decline from the prior year period, which was worse than the expected decline of 7.7%. IDC also added that this year-over-year decline was the worst since the firm began its quarterly tracking of the PC market in 1994. On March 28, data released by Gartner said worldwide IT spending is projected to increase 4.1% in 2013 to $3.8T. PRICE ACTION: Shares of Dell have slid more than 2.5% since the first day of trading following its Q4 report. Following the March announcement that Dell received alternative proposals from Blackstone and Icahn, shares closed as high as $14.51 per share. Through April, however, shares of Dell slipped, including a sharp decline after disclosing Blackstone withdrew its offer, with shares closing as low as $13.09 per share. In afternoon trading ahead of its Q1 report, shares of Dell are down 0.2%, to about $13.42. | | | 13:57 EDT |  | DELL | Dell May 13 straddle priced for 1.7% move into Q1
Subscribe for More Information | | | 10:03 EDT |  | STZ | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 09:27 EDT | | NSRGY | Nestle invests CHF 29M to strengthen supply chain in Russia
Nestlé is investing more than CHF 29M in new distribution facilities in Russia to meet growing demand for its products in the country. The company is extending its distribution centre at its manufacturing site in Vorsino in the region of Kaluga to better serve consumers across Russia and other Commonwealth of Independent States countries. The investment will have created about 100 new jobs by the time the new facilities are fully operational in October this year. | | | 08:07 EDT | | STZ | Constellation Brands upgraded to Strong Buy from Buy at ISI Group
Subscribe for More Information | | | 07:28 EDT | | STZ | Constellation Brands upgraded to Buy from Hold at Stifel
Stifel upgraded Constellation Brands citing accelerating high end beer sales and positive distributor and supplier checks that indicate low-single digit price increases in spirits. Price target is $64. | | | 05:51 EDT | | BUD | NBCUniversal says winter Olympic Games ad sales strong, WSJ reports
Comcast's (CMCSA) NBCUniversal unit is projecting advertising sales over $800M for the Olympic Games next year in Russia, which would be a record for the Winter Games, despite the decision by Anheuser-Busch InBev (BUD) and Hilton Worldwide not to advertise on the event in Sochi, reports the Wall Street Journal. The company said it has sold 75%-80% of its TV inventory.Reference Link | | | May 15, 2013 | | 17:26 EDT | | STZ | Third Point gives quarterly update on stakes
NEW STAKES: Virgin Media (VMED), Tiffany (TIF), B/E Aerospace (BEAV), Anadarko (APC), and Thermo Fisher (TMO). INCREASED STAKES: International Paper (IP), Abbvie (ABBV), TransDigm (TDG), Constellation Brands (STZ), and Dollar General (DG). DECREASED STAKES: Delphi (DLPH), Murphy Oil (MUR), AIG (AIG), LyondellBasell (LYB), and Liberty Global (LBTYA). LIQUIDATED STAKES: Tesoro (TSO), Morgan Stanley (MS), Symantec (SYMC), Herbalife (HLF), and Illumina (ILMN). | | | 16:48 EDT | | DELL | Icahn gives quarterly update on stakes
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