>>> Vivendi considering relaunching GVT sale or merger with Tim

Vivendi considering relaunching GVT sale or merger with Tim Brasil; Moelis could be advising 

Vivendi, the listed French media and telecom group, is understood to be considering relaunching the sale of Brazilian mobile phone operator GVT, La Lettre de L’Expansion reported, citing no source.

The French-language weekly said Vincent Bollore, chairman of the Vivendi supervisory board, made the decision previously to review options for the business, which could be either sold directly or merge with Tim Brasil, the Brazilian unit owned by Telecom Italia. Tim Brasil is also known as TIM Participacoes.

According to the publication, Vivendi is in discussions to appoint Moelis & Company as the adviser on the sale.


Source La Lettre de l'Expansion

WSJ : Tiffany Taps Frederic Cumenal As CEO

Tiffany Taps Frederic Cumenal As CEO
Michael Kowalski to Retire in March After Leading Luxury Retailer Since 1999

Tiffany TIF -0.19% & Co. tapped its president, Frederic Cumenal, as its next chief executive as longtime leader Michael Kowalski plans to retire from the company next year.
Mr. Kowalski, who will continue as non-executive chairman of the board, is slated to retire March 31, 2015, with Mr. Cumenal assuming the role April 1.
Mr. Kowalski, 62, was named chief executive in 1999 and assumed the role of chairman in 2003. He first joined the company in 1983.
Since he took the helm of the luxury jewelry brand, Tiffany has seen its stock price rise from about $15 to Friday's close of $99.68.
In recent quarters, the company's results have reflected the brand's staying power through Mr. Kowalski's tenure, as the company's business has proved relatively stable amid a generally weak retail environment. In January, Tiffany said its holiday sales rose on growth in all its regions as other retails saw tepid results amid a harsh winter.
"I am immensely satisfied by what we have accomplished at Tiffany over the past 30 years, and I am confident that the company is superbly positioned for the future," Mr. Kowalski said.
While the outgoing chief was a Tiffany veteran when assuming the role, his successor is relatively new to the company. Mr. Cumenal joined Tiffany in 2011 to oversee sales and distribution, and went on to be appointed president and landed a spot on the board in 2013, making him a clear candidate to become the next CEO. Also that year, his responsibilities were expanded to include the design, merchandising and marketing functions.
Mr. Cumenal has a historic in luxury brands. He had come to Tiffany from the LVMHMC.FR +0.14% Group, the holding company for brands such as Louis Vuitton and Moet Hennessy, where he had been chief executive officer of Moet & Chandon, SA.

Fwd:(Oppenheimer) Starbucks: Still prefer SBUX over MCD

MCD continue to UP, MCD is reporting tomorrow before the open...


From: LAURENT CHEKROUN () At: Jul 18 2014 13:34:24
To: LAURENT CHEKROUN ()
Subject: Fwd:(Oppenheimer) Starbucks: Still prefer SBUX over MCD
Starbucks: Still prefer SBUX over MCD
Oppenheimer continues to favor SBUX (Outperform) over MCD (Perform) into next week's results and beyond. While MCD contains limited valuation risk, the Street's sales/earnings estimates through '15 appear too optimistic which could keep the shares restrained. SBUX still has significantly more slack in its model with new internal drivers, fewer external risks and "lower-than-usual" sales/earnings expectations through '15—which gives investors a better opportunity for upside. While SBUX's 24x forward P/E is richer, firm believes comps will remain above average and the stock will continue to grow into its expanding EPS skin.
  • SBUX is set to report 7/24 after the close
  • MCD is set to report 7/22 before the open

>>> Tencent QQ Wallet heating up competition in mobile payment market

--> Could be seen as -ve fpr Alibaba mobile payment solution as competition is heating up

Tencent's online payment service arm Cai Fu Tong recently teamed up with IM QQ to launch another payment service called QQ Wallet, which is expected to intensify competition in the mobile payment market that is currently shared by Tencent's WeChat payment service and Alibaba's Alipay Wallet, reports the Chinese-language Time Weekly.

The mobile payment service has exhibited great potential over the recent years. Chinese internet conglomerates Tencent and Alibaba dominate the market and command a sizeable client base.

The launch is being considered as Tencent's move to cannibalize market share from long-time rival Alibaba.

QQ Wallet hosted an event online during the World Cup, in which users could bet on the winning or losing teams of each game of the quadrennial competition. It was estimated that over 1 million users bet on the payment platform during the World Cup.

The development of mobile payment services in China has grown rapidly, particularly in first and second-tier cities. Consulting firm iResearch data showed that China's mobile payment market was worth 1.53 trillion yuan (US$248.3 billion) in the first quarter of this year, up by 112.7% from the earlier quarter.

China's largest online payment services, Cai Fu Tong and Alipay, have been battling in several areas. The competition ramped up after they launched their respective mobile payment services WeChat Wallet and Alipay Wallet.

But some people questioned whether Tencent will end up duplicating work for QQ Wallet since it already has the WeChat payment service.

Data showed that the number of active users on QQ is at least 80 million, while that of IM QQ is 550 million, with users being recruited from large to smaller cities and even the countryside.

In comparison, most of WeChat's users reside in large cities. In other words, QQ Wallet will help penetrate the market in the remote areas into which WeChat has not forayed.

It is expected that IM QQ and WeChat, which has 500 million users, and Alipay with its 400 million users, will become the dominating forces in the mobile payment market.

REuters - Malaysia Airlines flies over Syrian airspace - Flightradar24


(Reuters) - Malaysia Airlines re-routed a Kuala Lumpur-to-London flight over Syrian airspace on Sunday after its usual route over Ukraine was closed, flight tracking data showed on Monday.

Flightradar24 posted a flight map on its Twitter account on Monday showing the change in the flight's route. Flight tracking data showed this flight had previously crossed over eastern Ukraine. (To view the link: bit.ly/1wPJDUr)

After Malaysia Airlines' Flight MH17 was shot down last Thursday by a ground-to-air missile in eastern Ukraine, airlines began to avoid the airspace below which the Ukrainian military has been fighting with Russian-backed rebels.

On Friday and Saturday the Kuala Lumpur-London flight, MH4, had taken a different route over eastern Turkey, tracking data showed.

The change in route on Sunday highlights the challenge that airlines face in finding conflict-free passageways on the congested routes between Asia and Europe. Hundreds of flights routinely crossed over Ukraine before Thursday's incident, and it is not unusual for international airlines to overfly war zones such as Syria or Afghanistan.

The U.S. Federal Aviation Administration, whose regulations are among the world's strictest, "strongly discourages" U.S. operators from flying to, from or over Syria, according to a May 2013 notice on its website.

A spokesperson for Malaysia Airlines did not immediately respond to a phone call seeking comment.

>>> Allergan beats by $0.07, beats on revs; guides Q3 EPS in-line, revs in-line;

Allergan beats by $0.07, beats on revs; guides Q3 EPS in-line, revs in-line; raises FY14 guidance; guides FY15 EPS above consensus

Reports Q2 (Jun) earnings of $1.51 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of $1.44; revenues rose 16.7% year/year to $1.86 bln vs the $1.77 bln consensus; total product net sales increased 15.9%.

Co issues in-line guidance for Q3, sees EPS of $1.44-1.47, excluding non-recurring items, vs. $1.45 Capital IQ Consensus; sees Q3 net product sales of $1.675-1.750 bln vs. $1.72 bln Capital IQ Consensus Estimate.

Co issues guidance for FY14, raises EPS to $5.74-5.80, excluding non-recurring items, from $5.64-5.73 vs. $5.71 Capital IQ Consensus; raises FY14 net product sales to $6.90-7.05 bln from $6.775-7.00 bln vs. $6.98 bln Capital IQ Consensus Estimate.
  • Total specialty pharmaceuticals net sales between $5,865 million and $5,975 million. Total core medical devices net sales between $1,010 million and $1,050 million. RESTASIS product net sales between $1,040 million and $1,070 million. BOTOX product net sales between $2,200 million and $2,280 million.
Co issues upside guidance for FY15, sees EPS of $8.20-8.40, excluding non-recurring items, vs. $6.86 Capital IQ Consensus.

Allergan estimates 2016 EPS at ~$10.00.

Additional strategic options are available including business development / acquisitions and capital return. Allergan reconfirms its aspiration of double digit sales growth across the strategic plan period (2014 through 2019), as the planned reductions in selling, general and administrative expenses and reduced focus on lower-value spend will have only a modest impact on the net sales growth.

Allergan will execute a restructuring in the remainder of 2014 that it estimates will deliver annual pre-tax savings of ~ $475 million in calendar year 2015 as compared to previously communicated 2015 expectations. Such savings will come from efficiencies and reductions in spend across the commercial organization, general and administrative functions, manufacturing and the research and development organization.

>>> US Gapping down

Gapping down

In reaction to disappointing earnings/guidance: BBT -5.5%, XRS -2.9%, PHG -1.9%, CPB -0.7%, HAS -0.4%.

M&A news: TWX -0.9% (21st Century Fox may sell stake in Sky Deutschland (SKDTY) to British Sky Broadcasting (BSYBY) to support Time Warner (TWX) deal, according to reports).

Select EU financial related names showing weakness: NBG -3.8%, DB -1.7%, SAN -1.1%, LYG -1%, BCS -0.8%.

Select tobacco related stocks trading lower after RAI was ordered to pay $23 bln over lung cancer death, according to reports: RAI -2.8%, LO -2.3%, MO -1.7%, PM -1.2%.

Select big pharma names showing early weakness: SHPG -1.4%, GSK -1%, NVO -0.9%, NVS -0.6%.

Other news: YUM -1.8% (may get involved in another food safety issue in China, according to reports), APP -1.8% (Standard General filed amended 13D; working with the Issuer to restructure the loan), CLDN -1.1% (announces in-license of Stem Cell Factor development program), MCD -1% (reports of a new food scandal in China), LFL -0.5% (lowers its FY14 operating margin guidance).

Analyst comments: MNST -1.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley), IGT -0.9% (downgraded to Hold from Buy at Stifel), RH -0.7% (downgraded to Hold from Buy at BB&T Capital Mkts).

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: HAL +1.4%, STI +1.3%, BMI +0.7%.

M&A news: EGAS +8.4% (co confirms takeover attempt by Algonquin Power & Utilities, co later rejected offer), AKS +1.7% (to acquire Severstal Dearborn), .

Select Battery related names showing strength: KNDI +8%, PLUG +2.4%, BLDP +1.5%.

Other news: NQ +7.8% (still checking, may be rebounding after recent vol), ASTI +7.1% (announces $32 mln secured convertible debt agreement), TRUP +6.1% (vol following recent IPO), PT +5.6% (MEO expands its fibre network through a sharing agreement with Vodafone), ZINC +4.8% (positive Barron's mention), COCO +4.8% (Education Department names team to monitor Corinthian Colleges), EMC +4.7% (activist wants EMC to break itself up, according to reports), GLUU +3.1% (continued momentum), FXEN +1.8% (announces drilling schedule through end of 2014), JNPR +1.7% (positive Barron's mention), NFLX +0.9% (positive mention on Mad Money), BBRY +0.9% (named Marty Beard as Chief Operating Officer), UMC +0.8% (to raise prices by 5-15% on some clients, according to reports), GILD +0.8% (co's Hepatitis C drug may be effective in HIV, according to reports).

Analyst comments: SSW +9.5% (upgraded to Outperform from Market Perform at Wells Fargo), QLIK +7.8% (upgraded to Overweight from Equal Weight at Barclays), GPRO +2% (initiated with a Overweight at JP Morgan and Overweight at Piper Jaffray), BIDU +2% (upgraded to Overweight from Equal-Weight at Morgan Stanley), ASML +1.2% (upgraded to Outperform from Sector Perform at Pacific Crest), TAL +0.8% (upgraded to Outperform from Market Perform at Wells Fargo), AAPL +0.6% (upgraded to Mkt Outperform from Mkt Perform at JMP Securities, also tgt raised to $115 from $100 at UBS)