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January 23, 2014
UP AFTER EARNINGS: Netflix (NFLX), up 17%... Southwest Airlines (LUV), up 2.3%... Union Pacific (UNP), up 2%... Silicom (SILC), up 31%... Logitech (LOGI), up 16%... Lockheed Martin (LMT), up 1%... ALSO HIGHER: eBay (EBAY), up 2% after reporting earnings and guidance and also announcing it received a proposal from Carl Icahn regarding a spin-off of its PayPal unit... ARIAD (ARIA), up 10.6% after Daily Mail said Eli Lilly (LLY) approached the company about a possible deal... Inovio (INO), up 6.5% after announcing new immune activator... Pluristemae (PSTI), up 2.6% after receiving PEI approval for scaled-up 3D manufacturing... Valero (VLO), up 3% after giving Q4 guidance... Cobalt (CIE), up 4.6% after announcing first syn-rift discovery in deepwater Angola. DOWN AFTER EARNINGS: United Continental (UAL), up 2.9%... McDonald's (MCD), down 0.2%... Zhone (ZHNE), down 20%... Precision Castparts (PCP), down 2.5%. ALSO LOWER: American Eagle (AEO), down 6.4% after the company announced CEO Robert Hanson is leaving the company, to be replaced in interim by Jay Schottenstein.
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November 10, 2015
13:33 EDTMCDMcDonald's sees FY16 systemwide sales growth 3%-5%
Constant currency financial targets for FY16 include: Systemwide sales growth of 3% to 5%; Operating income growth of 5% to 7%, excluding potential charges in 2016 associated with executing against our refranchising strategy and cost-saving initiatives; One-year return on incremental invested capital in the high teens; Capital expenditures of approximately $2 billion, split between opening about 1,000 new restaurants and reinvesting in existing restaurants." As the Company evolves to a more heavily franchised structure, capital expenditures are expected to modestly decline over time. Reinvestments in Experience of the Future around the world and reimaging the remainder of the U.S. restaurants will be the key variables impacting changes in capital expenditure levels beyond 2016. Chief Administrative Officer Pete Bensen added, "As part of the Company's overall financial review, a Real Estate Investment Trust, or REIT, spin-off was closely considered given its potential tax advantages and current market trading multiples. Our review went beyond financial measures and evaluated the impact on all stakeholders, including our shareholders' long-term interests. We have concluded that any potential value creation from a REIT is out-weighed by the significant financial and operational risks to our business and the continued progress of our turnaround, and we do not believe that pursuing a REIT would be in the best interest of McDonald's at this time."
13:32 EDTMCDMcDonald's says sees FY16 operating income growth of 5%-7%, ex charges
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13:32 EDTMCDMcDonald's says has decided not to pursue REIT spinoff transaction
During the Company's investor meeting today, McDonald's Corporation President and Chief Executive Officer Steve Easterbrook and members of senior management provided an update on the Company's Turnaround Plan and made the following announcements: The Company reiterated that it expects positive fourth quarter comparable sales in all segments; Sales, Operating Income and One-year Return on Incremental Invested Capital targets for 2016 that are more consistent with the Company's previously stated long-term financial targets; Global refranchising target raised to 4,000 restaurants through 2018 with a new long-term goal to become 95% franchised; Net annual G&A savings target increased to $500 million - the vast majority of which will be realized by the end of 2017; McDonald's Board of Directors increased the fourth quarter 2015 dividend by 5%, bringing the new quarterly dividend to $0.89 per share; Plans to optimize the Company's capital structure and increase the cash return to shareholders target to about $30 billion for the three-year period ending 2016. The vast majority of the incremental cash return of $10 billion will be funded by issuing additional debt; Decision to not pursue a REIT spin-off transaction. "Our turnaround depends on this: we must run great restaurants each and every day," said Easterbrook. "We're leveraging our competitive strengths: iconic menu items that customers love, a unique franchise model that empowers local entrepreneurs, size and scale that makes operational investments efficient, and a global, well-diversified geographic footprint. Together, these brand attributes provide McDonald's with the foundation and capabilities for continued success."
13:28 EDTMCDMcDonald's says raising Q4 dividend by 5%
13:28 EDTMCDMcDonald's says sees Q4 comparable sales positive in all segments
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13:26 EDTMCDMcDonald's says looking to tailor offers with mobile app
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13:22 EDTMCDMcDonald's CEO says 'regaining momentum'
13:18 EDTMCDMcDonald's says going outside company to find new executives
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13:14 EDTMCDMcDonald's says expects to reduce G&A by $500M
13:12 EDTMCDMcDonald's says will not pursue REIT structure
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13:12 EDTMCDMcDonald's says has given REIT a 'serious consideration'
Says will not pursue at this time as risk is too great.
13:11 EDTMCDMcDonald's says looking to refranchise 4,000 stores by 2018
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12:56 EDTMCDMcDonald's trading halted, news pending
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12:00 EDTMCDAb InBev, HSBC, Google, among firms to testify at EU tax hearing, Reuters says
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11:43 EDTUALDoJ files suit to block United, Delta deal for Newark slots
The Department of Justice filed a civil antitrust lawsuit seeking to block a proposed transaction between United Continental Holdings (UAL) and Delta Air Lines (DAL) in order to preserve competition at Newark Liberty International Airport. The Antitrust Division's lawsuit, filed in the U.S. District Court for the District of New Jersey in Newark, New Jersey, alleges that United's planned acquisition of 24 takeoff and landing slots at Newark would increase United's already dominant position at the airport, and would strengthen a barrier that diminishes the ability of other airlines to challenge United at the airport. As a result, the 35M air passengers who fly into and out of Newark every year likely would face higher fares and fewer choices. According to the department's complaint, United already controls 73 percent of the slots the FAA has allocated to carriers at the airport - over 10 times more slots than its closest competitor. No other airline has more than 70 slots. The complaint also alleges that United "grounds" as many as 82 slots each day at Newark, depriving Newark passengers of flight options that would exist if the slots were flown. The complaint also details how consumers benefit when slots are held by United's airline rivals. In response to the department's concerns expressed during its review of the United/Continental merger in 2010, United divested its 36 slots at Newark to Southwest Airlines. United's then-CEO, Jeff Smisek, lauded the settlement as a "fair solution that would allow Continental and United to create an airline that will provide customers with an unparalleled global network and top-quality products and services, while enhancing domestic competition at Newark." Nevertheless, as alleged in the complaint, United's proposed acquisition of slots from Delta is United's third attempt to reverse the benefits of the 2010 divestiture by buying slots from its competitors at Newark. Reference Link
11:05 EDTNFLXStocks with call strike movement; NFLX TWTR
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11:04 EDTUALDOJ seeks to block Delta, United deal for Newark slots, Bloomberg reports
09:37 EDTVLOActive equity options trading on open
Active equity options trading on open: AAPL TGT VLO BAC FB W RAX V PHM
08:58 EDTMCDMcDonald's weekly volatility elevated into investor meeting
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05:43 EDTUALUnited Continental implied volatility of 34 at lower end of index mean range
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