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June 26, 2014
18:42 EDTPRGS, MTW, ANAD, NKE, DD, AWREOn The Fly: After Hours Movers
HIGHER: Manitowoc (MTW), up 11.14% after Relational Investors took an 8.52% stake in the company and urged for a spin-off of its food business... Aware (AWRE), up 19.72% after announcing a $1.75 per share special cash dividend. HIGHER AFTER EARNINGS: Nike (NKE), up 3.04%... Progress Software (PRGS), up 9.49%. LOWER: Du Pont (DD), down 2.13% after lowering its 2014 EPS outlook... ANADIGICS (ANAD), down 6.73% after giving weaker than expected Q2 guidance and announcing a workforce reduction of 140 positions.
News For MTW;AWRE;NKE;PRGS;DD;ANAD From The Last 14 Days
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October 6, 2015
06:35 EDTDDDuPont breakup 'highly likely' after CEO exit, says Deutsche Bank
Deutsche Bank analyst David Begleiter says a breakup of DuPont (DD) is "highly likely" following the exit of CEO Ellen Kullman. Interim CEO Ed Breen broke up Tyco (TYC) twice when he ran the company, Begleiter tells investors in a research note. The separation of DuPont into an Ag/Nutrition/Biosciences company and a Chemical/Materials company would unlock "substantial" shareholder value, the analyst contends. His sum-of-the-parts analysis yields a value of $67 per share. DuPont closed yesterday up $2.01 to $51.27. Begleiter lowered his price target for the shares to $63 from $66 and reiterates a Buy rating on the name.
October 5, 2015
18:56 EDTDDOn The Fly: After Hours Movers
HIGHER: Regulus Therapeutics (RGLS), up 8.7% after the company announced that it will present new preclinical data on RG-012 for kidney disease... Palatin Technologies (PTN), up 9.6% after director Robert deVeer Jr. buys 10,000 shares of common stock... Arena Pharmaceuticals (ARNA), up 4.7% after CEO Jack Lief announced his retirement and Harry Hixson was named interim CEO... DuPont (DD), up 5.9% after CEO and chair Ellen Kullman retires... Ruckus Wireless (RKUS), up 4.9% after joining the S&P 600... Starz (STRZA), up 10.1% after the LA Times reports that Lionsgate (LGF) is in advanced talks to merge with Starz. DOWN AFTER EARNINGS: Container Store (TCS), down 10.4%. ALSO LOWER: Sarepta Therapeutics (SRPT), down 3.8% after filing to sell $125M of common stock... Haemonetics (HAE), down 12.2% after lowering its fiscal 2016 outlook... Energy XXI (EXXI), down 8.3% after filing a $500M mixed securities shelf... Mallinckrodt (MNK), down 1.6% after announcing that it will provide a business update and financial guidance for the fiscal year ending September 30, 2016, on an investor call on October 6.
16:27 EDTDDDuPont up 4.5% after CEO Kullman retires, cuts FY15 EPS guidance
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16:23 EDTDDDuPont lowers FY15 EPS guidance to $2.75 from $3.10, consensus $3.19
DuPont announced that it now expects operating EPS for FY15 to be approximately $2.75, compared with the prior guidance of $3.10. The revised outlook primarily reflects continued strengthening of the U.S. dollar versus currencies in emerging markets, particularly the Brazilian Real; and a further weakening of agricultural markets, primarily in Brazil. The new guidance assumes full-year currency impacts of 72c per share, versus the prior expectation of approximately 60c per share. Excluding the impact of currency, the revised guidance for full-year operating EPS, including expected benefits from share repurchases and cost savings, represents an approximately 3% increase in operating earnings per share year over year. The company now expects second-half operating earnings per share to be approximately 40c, compared with the prior guidance of 75c. Approximately 25% of expected second-half operating earnings will be earned in Q3. Prior year operating earnings were $3.36 and 96c per share for the full year and second-half 2014, respectively. Demand for crop protection and seed products, primarily in Brazil, further weakened in the third quarter impacted by macroeconomic and competitive pressures. In Brazil, where the planting season is in progress, tighter farmer profit margins and credit are causing growers to be more cautious in their spending. The company is experiencing reduced demand for crop protection products reflecting low insect pressure and lower seed volumes as growers are expected to reduce hybrid corn planted area. The U.S dollar continues to strengthen versus currencies in emerging markets. The Brazilian Real has declined more than 60% year over year and approximately 20% since the company reported second-quarter results. In response to these macro conditions, the company announced that it is accelerating, by one year, its operational redesign cost saving actions and as result, expects to achieve $1.3B of savings on a run rate basis by the end of 2016. In addition, the company announced its commitment to achieving additional cost savings as a part of its operational redesign and is targeting approximately $1.6B on a run rate basis by the end of 2017. Plans related to the additional cost savings are expected to be finalized in Q4.
16:19 EDTDDDuPont CEO, chair Ellen Kullman to retire, Edward Breen named interim chair, CEO
Ellen Kullman, Chair and CEO of DuPont, announced that she will retire from the company effective October 16. On that date, Edward Breen, a current member of the DuPont board, will assume the role of Interim Chair and CEO of DuPont. The board has engaged an executive recruitment firm to identify a full-time replacement.
16:18 EDTDDDuPont CEO, chair Ellen Kullman to retire
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05:31 EDTNKEStocks with implied volatility below IV index mean; HUN NKE
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October 2, 2015
11:45 EDTPRGSProgress Software upgraded to Buy from Neutral at Sidoti
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05:47 EDTNKEStocks with implied volatility below IV index mean; BBY NKE
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October 1, 2015
19:23 EDTPRGSOn The Fly: After Hours Movers
UP AFTER EARNINGS: CalAmp (CAMP), up 9%... Micron Technology (MU), up 7%. ALSO HIGHER: bebe stores (BEBE), up 12.7% after reaffirming its first quarter guidance and announcing that its September Same Store Sales turned positive... Coherus Biosciences (CHRS), up 7.5% after CHS-1701 PK/PD study met primary PD endpoints... Nordstrom (JWN), up 3.6% after announcing a special cash dividend and additional $1B repurchase program. DOWN AFTER EARNINGS: Progress Software (PRGS), down 15.7%. ALSO LOWER: Keurig Green Mountain (GMCR), down 3.1% after disclosing the that president of U.S. sales and marketing, John Whoriskey, resigned... T-Mobile (TMUS), down 1.4% after Experian (EXPGY) disclosed a data breach affecting T-Mobile customers... XenoPort (XNPT), down 5.2% after announcing that the company will discontinue the development of XP23829.
16:28 EDTPRGSProgress Software names Michael Benedict as Chief Product Officer
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16:27 EDTPRGSProgress Software announces new $100M share repurchase plan
The timing and amount of any shares repurchased will be determined by management based on its evaluation of market conditions and other factors, and the Board of Directors may choose to suspend, expand or discontinue the repurchase program at any time.
16:26 EDTPRGSProgress Software raises FY15 adjusted EPS view to $1.51-$1.55 from $1.45-$1.52
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16:24 EDTPRGSProgress Software sees Q4 adjusted EPS 47c-51c, consensus 47c
Sees Q4 adjusted revenue $113M-$118M, consensus $121.63M.
16:23 EDTPRGSProgress Software reports Q3 adjusted EPS 39c, consensus 37c
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15:00 EDTPRGSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Micron (MU), consensus 33c... Progress Software (PRGS), consensus 37c... CalAmp (CAMP), consensus 26c.
10:32 EDTDDBernstein U.S. chemicals analysts hold an analyst/industry conference call
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10:16 EDTNKEOptions with decreasing implied volatility: WMB TEX BBBY NKE
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September 29, 2015
15:47 EDTNKENike to face competition for University of Texas apparel deal, Bloomberg says
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05:30 EDTNKEStocks with implied volatility below IV index mean; ASHR NKE
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