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News Breaks
April 15, 2014
Allscripts (MDRX) reinstated with an Outperform at Raymond James... Amber Road (AMBR) initiated with a Buy at Canaccord... Autonation (AN) coverage assumed with a Market Perform at Wells Fargo... BG Group (BRGYY) initiated with an Outperform at BMO Capital... Borderfree (BRDR) initiated with a Buy at Canaccord... Dean Foods (DF) initiated with a Buy at BB&T... Destination XL (DXLG) initiated with a Buy at Ascendiant... Group 1 Automotive (GPI) coverage assumed with a Market Perform at Wells Fargo... Halozyme (HALO) initiated with a Buy at Citigroup... MakeMyTrip (MMYT) initiated with a Neutral at Goldman... Penske Automotive (PAG) coverage assumed with a Market Perform at Wells Fargo... RPM (RPM) initiated with an Outperform at Wells Fargo... RSP Permian (RSPP) initiated with a Buy at KLR Group... Repligen (RGEN) initiated with a Buy at Jefferies... Spansion (CODE) initiated with a Buy at Sterne Agee... Statoil (STO) initiated with a Market Perform at BMO Capital... TPG Specialty Lending (TSLX) initiated with a Buy at BofA/Merrill... Versartis (VSAR) initiated with a Buy at Citigroup... WWE (WWE) initiated with a Buy at Needham... WebMD (WBMD) reinstated with a Strong Buy at Raymond James.
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October 10, 2014
17:07 EDTMDRXBlue Harbor reports 7.0% stake in Allscripts
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07:20 EDTMMYTMakeMyTrip pullback creates buying opportunity, says Oppenheimer
Oppenheimer says yesterday's 10% pullback in shares of MakeMyTrip creates a buying opportunity. The firm believes the positive catalyst from the Online travel sector in India is in the "early innings." It reiterates an Outperform rating on MakeMyTrip with a $32 price target.
October 9, 2014
15:46 EDTMMYTMakeMyTrip volatility increases on wide share price movement
MakeMyTrip October put option implied volatility is at 71, November is a 65, February is at 61; compared to its 26-week average of 54 according to Track Data, suggesting large price movement.
15:40 EDTMMYTMakeMyTrip quickly drops over 15% to $22.67
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14:47 EDTRPMRPM increases quarterly dividend 8.3%
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07:08 EDTCODESpansion, Integrated Silicon announce plans to develop HyperRAM products
Spansion (CODE) and Integrated Silicon (ISSI) announced plans to develop HyperRAM products based on the Spansion HyperBus interface, which improves performance while reducing the number of pins. Both companies will have rights to sell HyperRAM products under a long-term supply agreement fulfilled by ISSI.
October 8, 2014
10:32 EDTRPMRPM seeing improvement in construction markets, expects to continue through 2015
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10:25 EDTRPMRPM says Q1 results was 'on track' with its earnings plan
RPM said it expected a flat performance in Q1 after experiencing "extraordinary performance' due to results in Synta and Kirker subsidiaries. The company did not expect the performance to continue this year. The comparisons will continue to be negative in Q2 and be fairly flat for 2H15. The company also said there was $5.6M in unplanned costs due to the SEC investigation, the proposed SPHC settlement, and a voluntary self-disclosure agreement with the state of Delaware for unclaimed property. RPM expects costs for these three categories to continue in Q2 and Q3. When accounting for these facts, RPM says it is right on track with its earnings plan and says its consumer segment is continuing to perform well with mid-EBIT growth. The company also said more normal winter weather should help Q3. RPM expressed concern about the weak Euro, and says its outlook for the European economy remains mixed. Comments taken from Q1 earnings conference call.
09:20 EDTRPMOn The Fly: Pre-market Movers
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07:59 EDTRPMRPM comments on SPHC plan of reorganization
On September 26, 2014, SPHC filed its plan of reorganization in Delaware Bankruptcy Court. The plan memorializes the settlement in principle reached with representatives of current and future asbestos claimants. As previously reported, a trust will be established to resolve all current and future Bondex asbestos claims, an injunction will be issued by the court that will permanently protect SPHC, RPM International Inc., their affiliates, and other parties from current and future asbestos claims, and SPHC will emerge from bankruptcy and will be reconsolidated with RPM. RPM currently anticipates that the plan's effective date and the reconsolidation of SPHC's financial results will occur in RPM's fiscal 2015 third quarter, but the actual timeline could change based on a variety of factors beyond the control of SPHC and RPM. The impact of the completion of this transaction on RPM's 2015 fiscal year will be dependent on specific timing and related transaction costs. On an annualized basis, SPHC has revenues of approximately $400M. CEO Frank Sullivan said, "We look forward to plan confirmation for SPHC and its emergence from bankruptcy. While the amounts required to fund a 524g trust are substantial from a financial perspective, this transaction will be good for RPM shareholders, both in terms of our ongoing operations and as a process which will bring finality to the Bondex asbestos liability."
07:57 EDTRPMRPM sees FY16 EPS $2.70-$2.90, consensus $2.74
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07:34 EDTRPMRPM backs FY15 EPS $2.38-$2.42, consensus $2.42
Backs FY14 consolidated sales up 6%-8%, consensus $4.65B; Backs FY15 industrial sales up 6%-8%; Backs FY15 consumer sales up 5%-7%.
07:33 EDTRPMRPM expects FY15 quarterly results to follow different pattern from FY14
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07:31 EDTRPMRPM reports Q1 EPS 73c, consensus 79c
Reports Q1 revenue $1.20B, consensus $1.23B
October 7, 2014
15:51 EDTCODESpansion volatility at record high
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15:16 EDTRPMNotable companies reporting before tomorrow's open
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08:34 EDTHALOHalozyme issued patent for diagnosing hyaluronan-associated diseases
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October 6, 2014
16:32 EDTDFDean Foods names Ralph Scozzafava as EVP, Chief Commercial Officer
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10:04 EDTRSPPOn The Fly: Analyst Upgrade Summary
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06:28 EDTRSPPRSP Permian upgraded to Buy from Neutral at UBS
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