(Oppenheimer) Elizabeth Arden: Another rough quarter, with little visibility

Elizabeth Arden: Another rough quarter, with little visibility

Oppenheimer notes RDEN's fiscal 4Q results were highly disappointing though not surprising, weighed down by the same headwinds that have existed throughout fiscal 2014. Further, the co provided directional guidance for fiscal 2015, which is hardly encouraging. As such, they are reiterating their Perform rating on the shares of RDEN, and continue to suggest caution on the name despite the pronounced pullback, as the shares still seem to be pricing in much improved EBITDA amid a lack of visibility.

>>> US Early premarket gappers

Early premarket gappers
Gapping up: FOLD +38.1%, LITB +8.5%, DGLY +7.3%, PETM +3.9%, PETM +3.9%, ACHN +3.3%, CVV +3.2%, EJ +2.3%, YUME +2.1%, AEO +2.1%, FFIC +1.8%, EV +1.7%, SPLS +1.5%, GLOG +1.4%, GNC +1.3%, JASO +1.1%, JASO +1.1%, BHP +0.8%

Gapping down: RGSE -17.1%, YOKU -8.2%, TEDU -7.4%, TEDU -7.4%, LZB -4%, LOW -2.9%, JRJC -1.6%, RDS.A -1.2%, ABB -1.1%, TEF -1.1%, MT -1%, BUD -1%, ALU -0.9%, SAN -0.8%

>>> Infineon: Follow up on M&A report - FCS +4.76% pre makt

As mentioned earlier, Bloomberg is reporting that Infineon (IFNNY) is nearing a buyout of a U.S. semi co for around $2 billion.
  • No buyout candidate was named, but it's worth noting that Fairchild Semiconductor (FCS); mkt cap 1.9 bln; is moving higher on the report.
  • For those considering possibilities, the current market cap of the potential target may be lower than the $2 bln price range named in the reports, as an acquisition would most likely involve some sort of premium to current prices.
  • Other stocks in the semi space around that market cap include the following:
    • International Rectifier Corporation (IRF); mkt cap 1893 mln
    • Silicon Laboratories (SLAB); mkt cap 1872.7 mln
    • Monolithic Power Systems (MPWR); mkt cap 1758.5 mln
    • Intersil Corporation (ISIL); mkt cap 1734.2 mln
    • Power Integrations (POWI); mkt cap 1722 mln
    • Cypress Semiconductor (CY); mkt cap 1697.6 mln
    • Entegris, (ENTG); mkt cap 1669.3 mln
    • Semtech Corporation (SMTC); mkt cap 1571.6 mln
    • OmniVision Technologies, (OVTI); mkt cap 1569.9 mln
    • Tessera Technologies (TSRA); mkt cap 1545.8 mln
    • Veeco Instruments (VECO); mkt cap 1475.7 mln
    • Cirrus Logic (CRUS); mkt cap 1468.8 mln
    • PMC-Sierra (PMCS); mkt cap 1405.4 mln
    • Diodes Incorporated (DIOD); mkt cap 1219.6 mln
    • Spansion (CODE); mkt cap 1180.9 mln
    • M/A-Com Technology Solutions (MTSI); mkt cap 1031.9 mln
    • Cabot Microelectronics (CCMP); mkt cap 1008.6 mln
    • Ambarella, (AMBA); mkt cap 899.2 mln
    • Lattice Semiconductor (LSCC); mkt cap 859.5 mln
    • Advanced Energy Industries (AEIS); mkt cap 745.6 mln
    • Brooks Automation, (BRKS); mkt cap 733.6 mln
    • SunEdison Semiconductor (SEMI); mkt cap 697.3 mln
    • Micrel (MCRL); mkt cap 678.4 mln

>>> Lowe's beats by $0.01, reports revs in-line; reaffirms FY15 EPS guidance, gu

--> -2.95% pre market $50 vs $51.52 - 24k shares traded

Lowe's beats by $0.01, reports revs in-line; reaffirms FY15 EPS guidance, guides FY15 revs in-line

Reports Q2 (Jul) earnings of $1.04 per share, $0.01 better than the Capital IQ Consensus Estimate of $1.03; revenues rose 5.7% year/year to $16.6 bln vs the $16.57 bln consensus.
  • Comparable Sales Increased 4.4%
  • Sales for the second quarter increased 5.7% to $16.6 billion from $15.7 billion in the second quarter of 2013, and comparable sales for the quarter increased 4.4%.
  • For the six month period, sales were $30.0 billion, a 4.2% increase over the same period a year ago, and comparable sales increased 2.8%.
Commentary:
"We believe home improvement spending will continue to progress in tandem with strengthening job and income growth," Niblock added. "Our year-to-date sales performance, together with our previous assumptions for the second half of 2014, result in a modest reduction to our sales outlook for the year. Our diluted earnings per share outlook is unchanged, which is a testament to our keen focus on profitability."

Stock repurchases:
Co repurchased $1.1 billion of stock under its share repurchase program and paid $183 million in dividends in the second quarter. For the six month period, the company repurchased $2.0 billion of stock under its share repurchase program and paid $369 million in dividends.

Guidance:
Co issues mixed guidance for FY15
  • Co reaffirms FY15 EPS of $2.63 vs. $2.64 Capital IQ Consensus Estimate
  • Co sees FY15 revs of +4.5% YoY to ~$55.8 bln vs. $55.84 bln Capital IQ Consensus Estimate, down from +5% YoY (or $56.09 bln) prior
  • Comparable sales are expected to increase ~ 3.5%.
  • The company expects to open ~ 10 home improvement and 5 hardware stores.

(BFW) De Maiziere Says Germany Not Discussing Sale of Telekom Stake

BFW 08/20 09:35 Germany Wants to Maintain Open Internet, Economy Minister Says
BN 08/20 10:10 *DE MAIZIERE SAYS THERE'S NO DEBATE ABOUT SALE OF TELEKOM STAKE
BN 08/20 10:09 *GERMANY WANTS TO MAKE DATA SECURITY COMPETITIVE ASSET: GABRIEL
BN 08/20 09:58 *GOVT COMMUNICATIONS CAN'T RELY ON NON-EUROPEANS: DE MAIZIERE
BN 08/20 09:49 *DOBRINDT SAYS SALE OF GERMAN 700 MHZ FREQUENCY TO START 2015
BN 08/20 09:35 *DOBRINDT SAYS SOME GERMAN REGIONS WON'T GET FIBER ACCESS
BN 08/20 09:28 *DOBRINDT SAYS WILL USE FREQUENCY SALE PROFIT TO BOOST BROADBAND
BN 08/20 09:21 *GERMAN INTERIOR MINISTER DE MAIZIERE SPEAKING IN BERLIN
BN 08/20 09:20 *NETWORK PROVIDERS MUST ENSURE INTERNET SECURITY: DE MAIZIERE
BN 08/20 09:13 *GABRIEL SAYS GERMANY WANTS TO MAINTAIN NET NEUTRALITY
BN 08/20 09:11 *GERMAN ECONOMY MINISTER GABRIEL SPEAKING TO REPORTERS IN BERLIN
BN 08/20 09:11 *GERMAN INDUSTRY MUST STAY COMPETITIVE IN DIGITAL AGE: GABRIEL
BN 08/20 09:09 *GABRIEL SAYS DIGITAL ECONOMY ONE OF MAIN CHALLENGES FOR GERMANY
De Maiziere Says Germany Not Discussing Sale of Telekom Stake
2014-08-20 10:25:21.93 GMT


By Rainer Buergin
Aug. 20 (Bloomberg) -- German Interior Minister Thomas de
Maiziere says “there is no debate about the sale of Telekom
shares” when asked by reporters in Berlin whether the
government would sell its stake in Deutsche Telekom AG to
finance the expansion of Germany’s broadband telecommunications
network.
* NOTE: Germany Should Sell 32% Deutsche Telekom Stake,
Adviser Says {NSN MXWSTP6S9728 <GO>}


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To contact the reporter on this story:
Rainer Buergin in Berlin at +49-30-70010-6228 or
rbuergin1@bloomberg.net

To contact the editor responsible for this story:
Tony Czuczka at +49-30-70010-6227 or
aczuczka@bloomberg.net

WWD : Luxottica CEO Said Close to Exit

MILAN (Reuters) — Andrea Guerra, chief executive of Italy's Luxottica, is close to leaving the eyewear group after differences of opinion with founder and chairman Leonardo Del Vecchio, several newspapers said on Wednesday.

Luxottica, whose brands include Ray-Ban and Oakley, declined to comment. The company's shares were down 4.5 percent in morning trading.

Guerra, who earlier this year was tipped to become a minister in Matteo Renzi's government, is credited with helping turn family controlled Luxottica into the world's largest eyewear maker by revenue.

But according to a report in Corriere della Sera, relations between Guerra and patriarch Del Vecchio soured after Guerra's recent deal with Google to market its Internet-connected spectacles.

The paper cited a source close to Guerra as saying the next move was in the hands of 79-year-old Del Vecchio, one of Italy's richest men who owns 66.5 percent of Luxottica.

"He (Guerra) is a good manager and the stock is reacting. But the company was created by Del Vecchio, not Guerra," said Roberto Lottici, a fund manager at Ifigest who said he had bought Luxottica's shares on Wednesday morning.

Under Guerra, Luxottica has become a world leader in its sector through innovation and acquisitions, including the purchase of U.S. sports eyewear firm Oakley in 2007. Last year, the group had sales of 7.3 billion euros, or $9.7 billion.

Since he became cel in 2004, shares in Luxottica have nearly trebled in value.

Luxottica’s stable of icensed brands include Chanel, Giorgio Armani, Polo Ralph Lauren, Prada, Tiffany and Versace. The company has more than 7,000 optical and sun stores and its chains include LensCrafters, Pearle Vision and ILORI in North America and Sunglass Hut worldwide.