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November 13, 2015
09:35 EDTFBActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
09:27 EDTYUMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Blue Buffalo (BUFF), up 8.2%... Applied Materials (AMAT), up 3.8%... Planet Fitness (PLNT), up 9.8%... Lipocine (LPCN), up 16.2% after reporting quarterly results and that the FDA has assigned a Prescription Drug User Fee Act goal date of June 28, 2016. ALSO HIGHER: Mylan (MYL), up 10.9% after Perrgo (PRGO) shareholders did not tender enough shares for the hostile takeover bid to succeed... Plug Power (PLUG), up 7.3% after entering into a strategic supply agreement with 3M (MMM)... Yum! Brands (YUM), up after reporting that October China Same-Store Sales are up 5%. DOWN AFTER EARNINGS: Fossil (FOSL), down 24.5%... Fossil (JWN), down 20.6%... El Pollo LoCo (LOCO), down 15.1%... Cisco (CSCO), down 4.1%.... Tyco (TYC), down 4.1%... J.C. Penney (JCP), down 6.8%. ALSO LOWER: Fitbit (FIT), down 8.4% after 17M share Secondary priced at $29.00... GameStop (GME), down 8% after being downgraded to Sector Weight from Overweight at Pacific Crest... Lions Gate (LGF), down 2.6% after 3.4M share Spot Secondary priced at $39.43... Perrigo is down 10.5% after shareholders did not tender enough shares for the hostile takeover bid to succeed.
09:21 EDTYUMWendy's '4 for $4' a hit, McDonald's promo may be next
An analyst at Citi believes Wendy's (WEN) has seen strong results from its ongoing "4 for $4" promotion, prompting him to add the stock to the firm's Focus List and predict that the company's same-store sales growth this quarter will beat expectations. 4 FOR $4: Under an ongoing promotion that was launched in October, Wendy's offers a junior bacon cheeseburger, four piece chicken nuggets, fries, and a drink for $4. Citi analyst Gregory Badishkanian told investors in a research note this morning that his analysis and talks with those in the fast-food industry suggest that the promotion continues to drive strong results, leading to a rise in transactions at Wendy's with little to no impact on restaurants' average check total. Badishkanian predicts Wendy's will post fourth quarter same-store sales growth of at least 4%, versus the First Call consensus forecast of 2.7% and the 3.3% growth implied by the high-end of the company's fiscal year guidance. INDUSTRY VALUE FOCUS: Wendy's management has emphasized value offerings recently, but other quick service restaurant peers are also increasing their focus on value, Badishkanian noted. The analyst sees a good chance that McDonald's (MCD) will roll-out a "2 for $2" promotion soon, which he believes could have a "modest" impact on Wendy's, but more of an impact on Restaurant Brands' (QSR) Burger King. Badishkanian predicts McDonald's same-store sales growth should accelerate further in the fourth quarter, but not at the expense of Wendy's. He keeps a Buy rating on Wendy's shares with an $11 price target. WHAT'S NOTABLE: Yum! Brands (YUM), which also competes in the quick service food space with its KFC, Pizza Hut and Taco Bell brands, is rallying this morning after reporting last night that its China division's same-store sales grew an estimated 5% in October. PRICE ACTION: Wendy's stock has gained over 5% in the last month, closing yesterday at $9.63 per share. In that same period, McDonald's shares have risen over 8% while Restaurant Brands has declined 3%.
06:16 EDTBXBlackstone to purchase Japan Residential in $450M deal, Reuters says
Blackstone said it will buy Japan Residential Investment Company in a deal valued at roughly $450M, including the assumption of debt, Reuters says. Reference Link
November 12, 2015
19:00 EDTYUMOn The Fly: After Hours Movers
UP AFTER EARNINGS: USA Technologies (USAT), up 15.9%... Blue Buffalo (BUFF), up 7.3%... Planet Fitness (PLNT), up 12.3%... Darling Ingredients (DAR), up 8.1%... Applied Materials (AMAT), up 3.8%... Lipocine (LPCN), up 19.9% after reporting quarterly results and that the FDA has assigned a Prescription Drug User Fee Act goal date of June 28, 2016. ALSO HIGHER: Syngenta (SYT), up 14.5% after Bloomberg reported that the company rejected an initial $42B bid from ChemChina... Yum! Brands (YUM), up 4.1% after reporting that October China Same-Store Sales are up 5%. DOWN AFTER EARNINGS: bebe stores (BEBE), down 10.5%... Nordstrom (JWN), down 20.3%... Fossil (FOSL), down 14.7%... Cisco (CSCO), down 4.8%... El Pollo LoCo (LOCO), down 8.7%... Tahoe Resources (TAHO), down 7.2%. ALSO LOWER: Paycom Software (PAYC), down 5.2%... Netflix (NFLX) down 1% after Dow Jones reported that Hulu, a joint venture of Disney (DIS), Comcast (CMCSA, CMCSK), and Fox (FOX, FOXA), is in discussions to sell a stake in the company to Time Warner (TWX)... TJX Companies (TJX), down 4%, Burlington Stores (BURL), down 5.3%, Macy's (M), down 1.6%, Target (TGT), down 1.9%, J.C. Penney (JCP), down 1.4%, and Kohl's (KSS), down 1.3%, after Nordstrom reported quarterly results and cut its fiscal 2015 guidance.
17:23 EDTYUMYum! Brands jumps 4.4% after reporting October China comp sales up 5%
17:19 EDTYUMYum! Brands reports October SSS up 5% year-over-year
Yum! Brands China Division's October same-store sales grew an estimated 5%, comparable to the Division's same-store sales growth of 6% in September. October's results include estimated growth of 10% at KFC and an estimated decline of 9% at Pizza Hut Casual Dining. The company asdded, "We are reiterating our guidance for the fourth quarter of China Division same-store sales growth of 0% to 4%, with positive same-store sales growth at KFC and negative same-store sales at Pizza Hut Casual Dining. As previously stated, same-store sales remain difficult to forecast in China, and our overlaps become more difficult for the balance of year."
16:07 EDTNTLSNTELOS approves merger with Shenandoah and Gridiron Merger Sub
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16:00 EDTFBOptions Update; November 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.28 to 20.18. Option volume leaders: GE AAPL MNKD XOM BAC FB SUNE CSCO NFLX SYF BABA MSFT
14:03 EDTBXBlackstone says Strategic Partners to buy $3B of real estate fund interests
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14:00 EDTFBFacebook Messenger testing ephemeral messaging in France, BuzzFeed says
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13:10 EDTFBFacebook selling virtual reality-like video ads, Re/code reports
Facebook will begin publishing 360-degree video content into your NewsFeed that will include 360-degree video ads, reports Re/code. Thursday is the first time that Facebook has rolled out a 360-degree video ad. Reference Link
09:36 EDTFBActive equity options trading on open
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07:55 EDTBXNCR Corp. to host conference call
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07:14 EDTBXNCR to appoint Blackstone's Chinh Chu, Greg Black to board upon closing of deal
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07:13 EDTBXNCR says Blackstone plan 'best way to accelerate transformation'
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07:13 EDTBXNCR Corp. sees Blackstone deal closing by early December
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07:13 EDTBXNCR to use Blackstone investment to fund repurchase of $1B
NCR (NCR) will use the Blackstone (BX) investment to help fund a repurchase through a self-tender of up to $1B of its common stock.
07:12 EDTBXBlackstone to invest $820M in NCR via perpetual convertible preferred shares
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07:11 EDTBXNCR announces strategic partnership with Blackstone
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