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Stock Market & Financial Investment News

News For DELL;ADNC;MRK;TSN;CTRP;GDOT;VVUS;NFLX;MCK;MAT;LTM;ALKS;ELN From The Last 14 Days
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July 17, 2014
13:18 EDTMATOn The Fly: Midday Wrap
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11:00 EDTMATHigh option volume stocks
High option volume stocks: OMC FXC TSEM JRJC MAT MTG PRAN SEAS BURL
10:55 EDTMATMattel topples after Q2 earnings miss estimates
Shares of global toy product manufacturer Mattel (MAT), are toppling over after the company's second quarter earnings results fell below analysts' consensus. WHAT'S NEW: Mattel's reported Q2 earnings per share of 8c, which was not comparable to a consensus of 18c since the company said its EPS number included a tax benefit of 11c per share and a negative impact of 7c per share of MEGA Brands acquisition and integration costs. Excluding both of these items, EPS was 3c per share. Mattel's Q2 revenue was $1.06B, which missed analysts' consensus estimates of $1.19B. For Q2, the company reported that its Girls and Boys Brands sales were down 13%, Fisher-Price Brands sales were down 17%, American Girl Bands revenue was up 6% and revenue from its Construction and Arts & Crafts Brands was $61.6M. WHAT'S NOTABLE: During its earnings conference conference call, Mattel said that it plans to increase advertising spending in the second half of the year to build momentum for key brands. It sees improving global trends in point-of-sale but says the company still has a lot of work to do to improve those trends. As Mattel looks to the third quarter, it sees continued challenges from current headwinds. With the MEGA brands deal now closed, the company aims to improve profitability of MEGA brands on a global basis and believes the acquisition will be accretive to earnings in fiscal year 2015. It expects lower international sales and is investing heavily in markets in Russia and China. Mattel is looking to maintain gross margins in the low to mid-50% range in near term. It noted that it aims to achieve a modest increase in SG&A due to severance and ongoing growth investments, excluding the MEGA Brands acquisition. Inventory fair value adjustment related to existing MEGA Brands-owned inventory should wind down in Q3, the company said. Amortization is expected to decrease to $17M in 2015 and $9M in 2016. PRICE ACTION: Shares of Mattel are down $2.31, or 5.92%, to $36.72 in morning trading. OTHERS TO WATCH: Mattel peer Hasbro (HAS), which reports quarterly earnings on July 21, is relatively flat at $52.59. JAKKS Pacific (JAKK) is up almost 1.5% to $8.20 and and LeapFrog (LF) is up 3.02% to $7.66.
09:49 EDTMATMattel says gearing-up for holiday season sales in 2H14
Says investing heavily in Russia and China markets.
09:31 EDTNFLXNetflix, Disney announce multi-year pay TV window agreement in Canada
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09:31 EDTMATMattel says 'Frozen' brand continuing to grow
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09:15 EDTMATOn The Fly: Pre-market Movers
HIGHER: Dresser-Rand (DRC), up 15.5% after Manager Magazin says Siemens (SIEGY) preparing bid for the company. Other oil equipment companies with a market cap similar to Dresser-Rand's include Dril-Quip (DRQ) and Oil States (OIS)... Microsoft (MSFT), up 3.4% after announcing restructuring, including plans to cut up to 18K jobs. UP AFTER EARNINGS: Morgan Stanley (MS) up 1.5%... Sherwin-Williams (SHW), up 3%. DOWN AFTER EARNINGS: Mattel (MAT), down 7.3%... Sandisk (SNDK), down 7%... Yum! Brands (YUM), down 2.5%. LOWER: Orbitz (OWW), down 3% after results, 34M share spot secondary offering of stock priced at $8.25... Benefitfocus (BNFT), down 1% after 2.5M share Secondary priced at $38.50.
09:08 EDTMATMattel to increase advertising spending in 2H14
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08:17 EDTMATMattel aims to maintain gross margins in low to mid-50% range in near term
Says its 2014 SG&A goal, excluding MEGA Brands, remains to achieve modest increase in Mattel SG&A, including severance and ongoing growth investments. Says inventory fair value adjustment, required by purchase accounting for opening balance sheet, related to existing MEGA Brands-owned inventory should wind down in Q3. Says amortization expected to decrease to $17M in 2015 and $9M in 2016. Comments taken from slides of the company's Q2 earnings conference call presentation.
07:31 EDTNFLXNetflix Q2 results likely to beat expectations, says MKM Partners
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07:20 EDTNFLXNetflix July weekly volatility elevated into Q2 and outlook
Netflix July weekly call option implied volatility is at 77, August is at 49, September is at 40; compared to its 26-week average of 44 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 21.
07:05 EDTALKSAlkermes announces initiation of Phase 1 study of ALKS 8700 for treatment of MS
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06:18 EDTMATMattel reports Q2 Girls and Boys Brands sales down 13% to $389M
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06:18 EDTMATMattel reports Q2 EPS 8c, not comparable to consensus 18c
Q2 EPS of 8c includes tax benefit of 11c per share and negative impact of 7c per share of MEGA Brands acquisition and integration costs. Reports Q2 revenue $1.06B, consensus $1.19B
July 16, 2014
17:23 EDTTSNTyson Foods commences tender offer for Hillshire Brands for $63 per share cash
Tyson Foods (TSN) announced that it has commenced a cash tender offer for all outstanding shares of common stock of Hillshire Brands (HSH) at a price of $63.00 per share. The tender offer is being made pursuant to the previously announced merger agreement dated July 1, among the two companies and HMB Holdings, a wholly owned subsidiary of Tyson Foods. The tender offer period will expire at 12:00 midnight at the end of the day on August 12, unless the offer is extended. Tyson Foods has filed a tender offer statement on Schedule TO with the United States SEC. HMB Holdings is the acquirer in the tender offer. The Offer to Purchase contained within the Schedule TO sets out the terms and conditions of the tender offer. Hillshire Brands has also filed a Solicitation/Recommendation Statement with the SEC, which includes the recommendation of the Hillshire board of directors that Hillshire Brands stockholders tender their shares in the tender offer. Following successful completion of the tender offer, any shares not acquired in the tender offer will be acquired in a second-step merger at the same $63 per share cash price.
15:17 EDTNFLXNetflix quietly ends Saturday DVD deliveries to lower costs, LAT says
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14:55 EDTMATMattel July 39 straddle priced for 5.1% move into Q2
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14:03 EDTNFLXNetflix submits FCC comments on proposed Net Neutrality rules
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11:50 EDTMATMattel technical comments before earnings
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09:37 EDTNFLXActive equity options trading on open
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