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November 12, 2012
06:10 EDTVOD, DDAIF, GLNCY, TNTEY, EADSY, XSRAY, UPS, WMT, CSCOOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Cisco Systems (CSCO) unveiled a new strategy for dealing with so-called patent trolls: accuse them of breaking the law, the Wall Street Journal reports...Xstrata’s (XSRAY) effort to close the merger with Glencore (GLNCY) has run into another hurdle that could prove fatal. Shareholders next week will vote on the merger using an untested ballot system devised to sidestep investor opposition to retention payments that Xstrata has proposed, the Wall Street Journal reports...REUTERS: Wal-Mart Stores’s (WMT) U.S. employees will pay between 8% and 36% more in premiums for its medical coverage in 2013, prompting some of the 1.4M workers to say they will forego coverage altogether, Reuters reports...The French and German governments began talks on whether to maintain their shareholder pact at EADS (EADSY) once Daimler (DDAIF) sells its entire stake in the company, according to the French daily Les Echos, Reuters reports...BLOOMBERG: UPS’s (UPS) $6.6B purchase of TNT Express (TNTEY) faces growing investor skepticism as the company struggles to win EU approval, Bloomberg reports...Vodafone Group (VOD), struggling with decreasing wireless revenue in European markets such as Spain and Italy, is courting new sales partners: TV companies and newspaper publishers, Bloomberg reports.
News For CSCO;XSRAY;GLNCY;WMT;EADSY;DDAIF;UPS;TNTEY;VOD From The Last 14 Days
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July 23, 2015
19:24 EDTWMTWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
11:44 EDTUPSUPS July weekly volatility elevated into Q2 and outlook
UPS July weekly call option implied volatility is at 24, August is at 19, September is at 15; compared to its 52-week range of 12 to 24, suggesting large near term price movement into the expected release of Q2 results on July 28.
08:08 EDTUPSUPS potential acquisition of Coyote could be negative, says Bernstein
After news outlets reported that UPS was in advanced talks to buy Coyote Logistics for $1.8B, Bernstein says it is neutral on the deal. However, the firm adds that the transaction would be expensive and could derail UPS' growth if Coyote is improperly integrated. The firm keeps an Outperform rating on UPS.
06:15 EDTCSCOTechnicolor to acquire Cisco's connected devices unit for EUR550M
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05:57 EDTDDAIFDaimler AG expects FY15 total unit sales to increase significantly in 2015
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05:55 EDTDDAIFDaimler AG sees group revenue up 'significantly' in FY15
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05:55 EDTDDAIFDaimler AG says current moderate growth rate will hardly change
Expects global GDP to expand this year by only 2.7% for FY15. Demand for cars is likely to rise by 2% according to current estimates. Demand in China should grow significantly and make the biggest contribution to global growth. The U.S. should show solid development, with slight growth to up to 17M units expected in 2015. In Germany and France, growth is likely to be moderate in relation to the comparatively weak prior-year level. The picture for the major emerging markets excluding China remains varied in 2015. A recovery of demand for cars is anticipated in India. In Russia, however, a drastic fall in car sales must be expected due to the country’s severe economic crisis. As demand has continued to weaken also for premium automobiles, a substantial decrease in total sales must be expected also in that segment. In the worldwide market for medium- and heavy-duty trucks, another drop in demand is expected in 2015 following last year’s significant decrease. Market prospects are the most promising in the NAFTA region and Europe. In North America, the main economic indicators suggest that demand for trucks will remain favorable despite a slight cooling off, so the market should expand by between 10 and 15%. In Europe, Daimler meanwhile anticipates market growth of between 10 and 15% also in that region. Market conditions in Brazil are extremely unfavorable, however. The Japanese market for light-, medium- and heavy-duty trucks appears to be relatively robust despite the country’s sluggish economy, so a market volume in 2015 in the magnitude of the previous year is expected. The deep recession in Russia will continue to affect the market, so demand is likely to fall sharply once again. But a significant market recovery is anticipated in India, thanks to the slightly improved economic prospects there. Daimler now assumes that the market for mid-sized and large vans in Europe will grow significantly in 2015, as will the market for small vans. Significant growth is anticipated in the US market for large vans, while in China, demand is expected to be at the level of the previous year in the market addressed there. In Latin America, Daimler expects significant contraction in the market for large vans. Daimler anticipates a market volume for buses in Europe in 2015 that is slightly above the very low level of the previous year. In Brazil, demand for buses is likely to decrease by at least 25% this year.
05:51 EDTDDAIFDaimler AG reports Q2 net profit EUR 2.4B vs. EUR 2.2B last year
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05:08 EDTWMTWal-Mart acquires remaining shares of Yihaodian
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July 22, 2015
14:51 EDTDDAIFEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
13:55 EDTUPSUPS in talks to acquire Coyote Logistics for $1.8B, Bloomberg reports
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13:26 EDTUPSUPS in talks to acquire Coyote Logistics for $1.8B, Bloomberg reports
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13:25 EDTWMTWal-Mart to end overnight hours at certain stores, Bloomberg reports
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08:38 EDTWMTNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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08:13 EDTEADSYAvolon delivers Airbus A321-200 to Vueling Airlines
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08:03 EDTEADSYOrbital ATK, Airbus finalize agreement on A350-1000 variant
Orbital ATK (OA) announced that it has finalized an agreement with Airbus (EADSY) to expand its current contract to include the manufacture of composite stringers and frames on the –1000 variant of the A350 program, adding to the work already being performed on the A350 program. This agreement builds on Orbital ATK’s valuable working relationship with Airbus and its partners. The Aerospace Structures Division of Orbital ATK’s Flight Systems Group is executing the A350 program at its Aircraft Commercial Center of Excellence facility in Clearfield, Utah. Orbital ATK is currently producing composite stringers and frames for the A350-900 and has successfully delivered more than 44,000 parts since the inception of the program. Orbital ATK expects that the contract expansion will require future hiring of additional professional and manufacturing employees, benefiting the local job market in Utah.
06:42 EDTEADSYAirbus China plant to deliver first wide-body jet in 2018, Reuters says
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July 21, 2015
14:24 EDTCSCOEarnings Watch: EMC reports amid M&A speculation in sector
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08:04 EDTDDAIFElectric Drive Transportation Association to hold a conference call
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06:42 EDTDDAIFNokia close to selling HERE to German auto makers, Bloomberg reports
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