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Stock Market & Financial Investment News

News Breaks
January 18, 2013
10:27 EDTGE, DB, TMO, LIFELife Technologies surges after buyout report but analysts cautious
Life Technologies (LIFE) is climbing sharply after The Financial Post reported last night that the company is looking to sell itself by the middle of February for $65-$75 per share, according to unnamed sources. The company, which sells a variety of life sciences products, hired two firms, Deutsche Bank (DB) and Moelis & Co., to facilitate a sale of the company to either a private equity firm or a larger company, the newspaper added, citing documents. Life Technologies stated earlier today that it had hired Deutsche Bank and Moelis to "assist in its annual strategic review." The company added, however, that its board had not decided on any specific course of action. In a note to investors earlier today, Jefferies analyst Jon Wood wrote that Life Technologies is more likely to be acquired for $50-$60 per share in a leverage buyout. Wood maintained a $58 price target and Buy rating on the shares. Meanwhile, Piper analyst William Quirk wrote in a note to investors that the company may be planning a leveraged buyout. Several companies including Roche (RHHBY), Thermo Fisher (TMO), and GE (GE) could look to buy Life Technologies, Quirk added. However, about 43% of Life's revenues are obtained from selling slow growth research consumables, making it an inferior target compared with other companies in the sector that specialize in faster growing next-generation sequencing products, the analyst contended. He maintained a $45 price target and Neutral rating on the shares. Additionally, ISI Group said the company's high debt levels makes a leveraged buyout challenging and that a restructuring or recapitalization is the most likely outcome. In early trading, shares of Life Technologies rallied $6.42, or 11.68%, to $61.51.
News For LIFE;TMO;GE;DB From The Last 14 Days
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January 29, 2016
16:21 EDTLIFEaTyr Pharma appoints John Blake CFO
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09:34 EDTGEActive equity options trading on open: AMZN MSFT FB AAPL GILD GE
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08:55 EDTTMOThermo Fisher guidance confusion creates buying opportunity, says Baird
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07:51 EDTTMOThermo Fisher reported very storng results, guidance conservative, says Stifel
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06:10 EDTGEGE intends to invest $760M in Italy R&D facilities, Bloomberg reports
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January 28, 2016
08:56 EDTDBDeutsche Bank plans will barely meet 2019 capital requirements, WSJ says
Deutsche Bank CEO John Cryan said the bank does not need fresh capital, but the bank's plans will leave it with a capital ratio that "only just squeaks over the hurdle it must clear" in 2019, according to The Wall Street Journal's Paul Davies, who contends that "Deutsche may still need another equity injection to make it through" despite the CEO's promise. Reference Link
08:50 EDTTMOThermo Fisher sees FY16 adjusted EPS $7.80-$7.96, consensus $8.19
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08:44 EDTTMOThermo Fisher says company has best position to address China's challenges
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08:39 EDTTMOThermo Fisher expects to continue to face ForEx challenges in 2016
The company said it will continue to target margin expansion to 24%-26% range by 2017. Also said it will be positively impacted by temporary repeal of medical device tax. Comments taken from Q4 earnings conference call.
08:17 EDTTMOThermo Fisher reports Q4 Life Sciences revenue $1.21B
Reports Q4 Analytical Instruments revenue $925M. Reports Q4 Specialty Diagnostics revenue $865M. Repots Q4 Laboratory Products and Services revenue $1.82B.
06:04 EDTTMOThermo Fisher reports Q4 adjusted EPS $2.12, consensus $2.11
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05:55 EDTDBDeutsche Bank reports Q4 net income (EUR 2.13B) vs. EUR 441M last year
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January 27, 2016
14:34 EDTTMONotable companies reporting before tomorrow's open
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January 26, 2016
09:20 EDTGEGE signs EUR40M agreement with PGE to modernize Polish power plant
GE's Power Services business announced it has secured orders valued approximately at EUR40M with PGE Gornictwo i Energetyka Konwencjonalna S.A. to upgrade generator and steam turbine assets at the Turow Power Plant. The upgrades will result in a combined 45-megawatt output increase, which is the equivalent of powering about 130,000 Polish households. Under the terms of the agreement with PGE GiEK S.A., GE will upgrade three 50WT20H-100 generators and three 13CK230 steam turbines to extend equipment lifetime by at least 150,000 hours-about 20 years-and increase the availability of the turbosets to 97 percent in the first year of operation and above 98 percent in the next year. The upgrade is expected to increase power output by 45 MW and improve power plant efficiency by approximately 1.4 percent. The upgrade of the generator rotors and the manufacturing of new rods will take place in GE's generator factory in Wroclaw, Poland. The steam turbine upgrade includes the delivery of new HP, IP and LP turbine inner modules, which will be manufactured in GE's turbine factory in Elblag, Poland. The upgrade is scheduled to begin with the shutdown of the first unit in April 2017, and the commissioning of the last unit is scheduled for January 2020.
January 25, 2016
10:02 EDTTMOWi-LAN subsidiary enters into license agreement with Thermo Fisher
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09:58 EDTTMOAffymetrix downgraded to Hold from Buy at Cantor
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08:43 EDTDBDeutsche Bank to slash 2015 bonuses after record loss, Reuters reports
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06:15 EDTGESamsung exec: Will consider M&A for home appliances unit, Reuters reports
Samsung (SSNLF) will mull all potential options to grow its home appliances unit including M&A, Reuters reports, citing comments from Samsung appliances head Suh Byung-sam in from of reporters at a company event. The executive said that Haier's (HRELY) acquisition of GE's (GE) appliances unit will have no serious effect on its business in the near term, the report says. Reference Link
January 24, 2016
15:57 EDTGEGeneral Electric plans to request SIFI reconsideration in March, Bloomberg says
In a Bloomberg interview published Friday, General Electric CFO Jeff Bornstein said the company plans to request in March that its systemically important designation be removed, following the sale of its commercial lending assets and a Utah bank charter. Reference Link
11:02 EDTGE, DBStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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