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January 23, 2013
05:55 EDTMMM, MMM, GWW, GWW, UNP, UNP, SWK, SWK, LUV, LUV, RTN, RTN, PCP, PCP, MKC, MKC, LMT, LMT, KEY, KEY, EQT, EQT, DOV, DOV, CELG, CELG, BMY, BMY, BAX, BAX, ABC, ABC, ARG, ARG, XRX, XRXCompanies reporting Before the Market Open on Thursday, January 24
Notable companies reporting before the opening bell on Thursday include 3M Co (MMM), Airgas (ARG), AmerisourceBergen (ABC), Baxter International (BAX), Bristol-Myers Squibb (BMY), Celgene (CELG), Dover (DOV), EQT (EQT), KeyCorp (KEY), Lockheed Martin (LMT), McCormick & Company (MKC), Precision Castparts (PCP), Raytheon (RTN), Southwest Airlines (LUV), Stanley Black & Decker (SWK), Union Pacific (UNP), W.W. Grainger (GWW), and Xerox (XRX).
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November 13, 2015
17:04 EDTBAXThird Point gives quarterly update on stakes
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16:40 EDTLUVAppaloosa gives quarterly update on stakes
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11:02 EDTCELGCelgene calls active on renewed takeover chatter
Celgene November weekly 111 and 112 calls are active on total call volume of 9K contracts (3K puts) on renewed takeover chatter. November weekly call option implied volatility is at 82, November is at 42, December is at 35; compared to its 52-week range of 23 to 54. Active call volume suggests traders taking positions for large price movement.
10:58 EDTCELGRumor: Celgene moves up on renewed takeover chatter
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10:16 EDTPCPOptions with decreasing implied volatility
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09:27 EDTMMMOn 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.
07:05 EDTMMM3M, Plug Power announce strategic supply agreement
Plug Power (PLUG) and 3M (MMM) announce a supply agreement for membrane electrode assemblies, or MEAs, to be used in Plug Power designed proton exchange membrane, or PEM, fuel cell stacks. Through this strategic supply agreement, robust fuel cell stacks will be manufactured in Plug Power's Latham, NY and Spokane, WA facilities to support the $20B material handling market. Additionally, this new fuel cell stack technology will be utilized to expand Plug Power's presence into hydrogen enabled electric vehicle applications outside of the material handling market. Fuel cell systems using the 3M MEA's and Plug Power stack design will begin shipments in Q4.
November 12, 2015
14:20 EDTGWWGrainger sinks 5% after long-term margin outlook gets lowered
14:13 EDTGWWGrainger sees margins 14%-15% by 2020 vs. previous 16%-17% by 2019
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13:53 EDTGWWGrainger reiterates 2015 outlook, issues 2016 guidance at analyst day
Grainger during its analyst day issued a press release with guidance for this year and next. The company reiterated its outlook for 2015, which includes EPS of $11.60-$11.80 and sales growth of down 0.5% to up 0.5%. The consensus EPS estimate is $11.65. Grainger guided its Q4 to $2.20-$2.40 versus the consensus of $2.24, on sales growth of down 3% to flat. For 2016, the company expects EPS of $10.80-$13.00 on sales growth of down 1% to up 7%. Excluding the results from Cromwell Group, acquired September 1, the company is forecasting sales growth of down 4% to up 4% and expects earnings per share of $10.70-$12.90. The consensus estimate is $12.00. Grainger also updated its longer term financial objectives. The company now expects operating margins of 14%15% by the year 2020. :This improvement is expected to come from organic sales growth in the mid-single digits and long term operating margin expansion of approximately 30 basis points per year," it stated. For reference, Grainger's operating margin in 2015 is expected to be 13.2%-13.3% excluding restructuring charges and unusual items.
13:48 EDTGWWGrainger sees operating margins of 14%-15% by 2020
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13:48 EDTGWWGrainger sees 2016 EPS $10.80-$13.00, consensus $12.00
Sees 2016 sales growth down 1% to up 7%.
13:47 EDTGWWGrainger sees Q4 EPS $2.20-$2.40, consensus $2.24
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12:17 EDTGWWGrainger sinks after predicting 'tough' conditions will continue
Shares of Grainger moved lower as the company's analyst day got underway. In presentation slides, the company pointed to a "tough industrial economy" and noted it expects "more of the same" in 2016. Grainger cited "short term changes in customer behavior" and added that the "competitive landscape continues to evolve." The distributor of maintenance, repair and operating supplies fell $7.43, or 4%, to $203.75 in midday trading. Grainger's peers include HD Supply Holdings (HDS), Fastenal (FAST) and MSC Industrial (MSM).
12:11 EDTGWWGrainger says 'complex time for the industry'
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12:10 EDTGWWGrainger drops 4% to 203.17 as analyst day gets going
12:02 EDTLMTNorthrop's U.S. bomber work halted after rivals protest, Reuters says
Work on a long-range strike bomber contract to Northrop Grumman (NOC) has been put on hold after Boeing (BA) and Lockheed Martin (LMT) contested the selection process, Reuters reports, citing a U.S. Air Force spokesman. The spokesman added that the order to halt work was issued after a formal protest was filed November 6, the report says. Reference Link
10:00 EDTRTNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Angie's List (ANGI) upgraded to Market Perform from Underperform at Raymond James... CGI Group (GIB) upgraded to Buy from Hold at Societe Generale... Devon Energy (DVN) upgraded to Buy from Neutral at Guggenheim... EP Energy (EPE) upgraded to Neutral from Sell at Citi... Franco-Nevada (FNV) upgraded to Buy from Hold at Canaccord... Galena (GALE) upgraded on commercial business divestment at Oppenheimer... KPN (KKPNY) upgraded to Buy from Hold at HSBC... Macy's (M) upgraded to Buy from Neutral at Northcoast... Magic Software (MGIC) upgraded to Overweight from Equal Weight at Barclays... Range Resources (RRC) upgraded on valuation, 2016 outlook at RBC Capital... Raytheon (RTN) upgraded to Buy from Hold at Argus... Trend Micro (TMICY) upgraded to Buy from Neutral at Nomura.
08:04 EDTRTNRaytheon upgraded to Buy from Hold at Argus
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06:35 EDTRTNRaytheon teams with Saudi electronics company, Reuters says
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