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April 3, 2013
07:15 EDTFOSL, KFY, NOW, SPMD, CE, HSII, INTC, TXN, TRN, PEPHMG Strategy to host a summit
2013 Dallas CIO Executive Leadership Summit is being held in Dallas on April 3.
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November 13, 2015
06:46 EDTFOSLFossil price target lowered to $25 from $46 at Piper Jaffray
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06:04 EDTCECelanese sees adjusted EPS of $8.00-$8.50 by 2018
The company expects to generate $2.5B in free cash flow from 2016-2018. It also expects to generate annual synergies that range from $125M-$150M, while constant focus on productivity initiatives is expected to generate $50M-$100M in net productivity savings annually. Celanese will continue to increase its cash dividend, which has grown 50% compounded annually since 2010, and will continue to repurchase shares under the recently announced $1B share repurchase program. The company will outline in more detail the growth objectives and capital allocation plans at its Investor Day.
05:45 EDTFOSLFossil price target lowered to $40 from $56 at Nomura
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05:30 EDTFOSLFossil implied volatility of 62 at upper end of index mean range
November 12, 2015
19:00 EDTFOSLOn 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.
16:11 EDTFOSLFossil drops sharply after results, Misfit acquisition, outlook
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16:10 EDTFOSLFossil down 12.3% to $44.91 in after-hours trading following Q3 results
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16:09 EDTFOSLFossil says Q3 was negatively impacted by strength of U.S. dollar
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16:09 EDTFOSLFossil continues to see FY15 'significantly' negatively impacted by FX changes
For FY15, the company continues to expect that its results will be significantly negatively impacted by foreign currency changes as well as restructuring charges, which were largely recorded in the first half of the fiscal year.
16:06 EDTFOSLFossil to acquire Misfit for $260M
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16:04 EDTFOSLFossil sees FY15 adjusted EPS $5.60-$6.20, consensus $5.08
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16:03 EDTFOSLFossil sees Q4 adjusted EPS $1.40-$2.00, consensus $2.12
Sees Q4 revenue to decrease in the range of 16.0% to 7.0%.
16:02 EDTFOSLFossil reports Q3 EPS $1.19, consensus $1.13
Reports Q3 revenue $771.3M, consensus $794.36M.
14:30 EDTFOSLNotable companies reporting after market close
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14:24 EDTFOSLFossil remains in downtrend ahead of earnings
The stock has been in a strong downtrend since November of 2013, with price last at $51.56 ahead of earnings. Shares are near an important support area at $50. If the news is a strong negative surprise and the $50 is broken on the downside, next support would be at $47.96 and then at $46.25. If the news is instead a bullish surprise, the first level of important resistance on the upside would be at the 10-week moving average at $54.82. A breakout above the 10-week would break the current downtrend leg. Next resistance levels to watch in that event would be at $55.38 and then at $58.65.
13:58 EDTFOSLFossil November weekly 52 straddle priced for 11.5% movement into Q3
13:24 EDTINTCEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
11:34 EDTCECelanese to host investor day
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08:42 EDTKFYSunTrust to hold a conference
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08:09 EDTFOSLFossil volatility increases into Q3 and outlook
Fossil November weekly call option implied volatility is at 195, November is at 100, December is at 55; compared to its 52-week range of 20 to 61, suggesting large near term price movement into the expected release of Q3 results today.
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