>>> Philip Morris International beats by $0.17, beats on revs; issues FY14 guida

Philip Morris International beats by $0.17, beats on revs; issues FY14 guidance (84.70)
Reports Q2 (Jun) earnings of $1.41 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus Estimate of $1.24; revenues fell 1.5% year/year to $7.8 bln vs the $7.51 bln consensus.
  • Co issues guidance for FY14, sees EPS ex items of +6-8% calc to ~$5.72-5.83, may not be comparable to $5.15 Capital IQ Consensus Estimate.
  • FY14 Guidance: This adjustment reflects: an after-tax charge of $0.01 per share recorded as asset impairment and exit costs in the first quarter of 2014 relating to the decision to cease cigarette production in Australia by the end of 2014; a pre-tax charge, related to the decision to discontinue cigarette production in the Netherlands in 2014, of $488 million, or an after-tax charge of $0.24 per share, recorded as asset impairment and exit costs in the second quarter of 2014; and an unfavorable currency impact, at prevailing exchange rates, of approximately $0.61 for the full-year 2014.
  • Cigarette shipment volume of 222.8 billion units, down by 2.7%.
  • Net revenues of $2.3 billion decreased by 14.2%, including unfavorable currency of $285 million. Excluding currency, net revenues decreased by 3.6%, due primarily to: unfavorable volume/mix of $138 million, mainly due to Japan, principally reflecting a lower total market and share; partially offset by favorable pricing of $42 million, driven mainly by Australia and Indonesia, despite the adverse impact of the Philippines.
  • "For the second half of this year, we anticipate more challenging quarterly comparisons, particularly in the fourth quarter -- which, in 2013, saw currency-neutral adjusted diluted earnings per share grow by 19.4% -- due to known business challenges, particularly in Asia, the timing of investments behind the commercialization of our Reduced-Risk Products and the roll-out of Marlboro Red 2.0, as well as costs related to our manufacturing footprint optimization initiatives."

>>> Blackstone beats by $0.44, beats on revs (33.98 )

Blackstone beats by $0.44, beats on revs (33.98 )
Reports Q2 (Jun) economic net income of $1.15 per share, $0.44 better than the Capital IQ Consensus of $0.71; revenues rose 56.2% year/year to $2.24 bln vs the $1.6 bln consensus.
  • Blackstone's portfolio company operating approach drove results to record levels and segment appreciation outperformed the broader equity markets with 8.4% appreciation during the quarter and 28.3% LTM.
  • Opportunistic Real Estate funds' carrying value appreciated 6.0% for the quarter and 28.3% LTM.
  • Distributable Earnings more than doubled in the quarter year-over-year on a record level of realizations, bringing the year-to-date total to $1.3 billion ($1.06/unit).

Reuters - Iraq tells U.N. that 'terrorist groups' seized nuclear materials

(Reuters) - Insurgents in Iraq have seized nuclear materials used for scientific research at a university in the country's north, Iraq told the United Nations in a letter appealing for help to "stave off the threat of their use by terrorists in Iraq or abroad."

Nearly 40 kilograms (88 pounds) of uranium compounds were kept at Mosul University, Iraq's U.N. Ambassador Mohamed Ali Alhakim told U.N. Secretary-General Ban Ki-moon in the July 8 letter obtained by Reuters on Wednesday.

"Terrorist groups have seized control of nuclear material at the sites that came out of the control of the state," Alhakim wrote, adding that such materials "can be used in manufacturing weapons of mass destruction."

"These nuclear materials, despite the limited amounts mentioned, can enable terrorist groups, with the availability of the required expertise, to use it separate or in combination with other materials in its terrorist acts," said Alhakim.

He warned that they could also be smuggled out of Iraq.

A U.S. government source familiar with the matter said the materials were not believed to be enriched uranium and therefore would be difficult to use to manufacture into a weapon. Another U.S. official familiar with security matters said he was unaware of this development raising any alarm among U.S. authorities.

A Sunni Muslim group known as the Islamic State is spearheading a patchwork of insurgents who have taken over large swaths of Syria and Iraq. The al Qaeda offshoot until recently called itself the Islamic State in Iraq and the Levant (ISIL).

"The Republic of Iraq is notifying the international community of these dangerous developments and asking for help and the needed support to stave off the threat of their use by terrorists in Iraq or abroad," Alhakim wrote.

Iraq acceded to the Convention on the Physical Protection of Nuclear Material on Monday, said the International Atomic Energy Agency (IAEA). The convention requires states to protect nuclear facilities and material in peaceful domestic use, storage and transport.

"It also provides for expanded cooperation between and among states regarding rapid measures to locate and recover stolen or smuggled nuclear material, mitigate any radiological consequences of sabotage, and prevent and combat related offences," according to the IAEA.

(BFW) Time Warner Deal Could Mean Fox Sells BSkyB Stake: Credit Suisse

Time Warner Deal Could Mean Fox Sells BSkyB Stake: Credit Suisse
2014-07-17 09:50:55.782 GMT


By Blanche Gatt
July 17 (Bloomberg) -- If Fox deal to buy Time Warner went
ahead, it could mean greater likelihood Fox will sell its stake
in BSkyB (underperform, PT 600p), Credit Suisse says in note.
* Credit Suisse says a deal implies Fox’s L/T priorities may
be moving away from ownership to distribution assets
* Fox may also consider selling its 39% BSkyB stake, worth
$9.3b at current prices/FX, if it wants to increase the
cash portion of its offer
* A deal could prompt consolidation between TV networks,
TV studios that are seeking to sell into U.S. market
* This supports Credit Suisse investment view on ITV
(outperform, PT 250p)
* Could cut bargaining power of TV broadcasters who rely
more heavily on access to content from U.S. TV studios
* This could be negative for ProSiebenSat.1 (outperform,
PT EU35)
* NOTE yday: 21st Century Fox May ‘Stretch’ Time Warner Bid to
$120-Shr: FBR
* NOTE July 16: Time Warner Says Board Determined Fox Offer
Not in Best Interest


For Related News and Information:
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To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net

>>> Alibaba teams up with Lionsgate for online streaming services


Chinese e-commerce conglomerate Alibaba announced on Tuesday that it has teamed up with Hollywood studio Lions Gate Entertainment Corporation to provide online video viewing services for audiences in China.

The service, called Lionsgate Entertainment World, will offer video subscription services for China. Users in China only need to connect Alibaba's latest set-up box to their television to enjoy the service.

According to the agreement, Lionsgate Entertainment World will provide Chinese users with more convenient services for watching Hollywood films online, Alibaba said.

Box-office hits such as Divergent, Twilight and The Hunger Games, as well as popular TV series including Mad Men and Weeds will be available on the platform.

China's film and TV industries have been growing at a fast pace, compared with other markets worldwide. By entering into a partnership with Alibaba, Lionsgate is expected to quickly penetrate the vast Chinese market.

Lionsgate surpassed 21st Century Fox and Paramount Pictures in box office performance in 2013 to become one of the top-five film and TV production companies in the United States.

Liu Chunning, who heads Alibaba's digital entertainment business, said Alibaba has been devoted to building a new ecosystem in the entertainment business that fits the culture of the internet era and that the company is committed to providing a large variety of digital entertainment services for its users.

Jack Ma, Alibaba's founder and executive chairman, had previously said that China needs to have a Chinese version of Warner Bros. On April 8, Ma and his partners paid 6.5 billion yuan (US$1.06 billion) for 287 million shares, or a 20% stake in Changsha-based Wasu Media.

On April 28, internet video streaming company Youku Tudou said in an announcement that it plans to enter into a strategic partnership with Alibaba, which now owns a 16.5% stake in the company. In addition, Alibaba officially became the largest shareholder in ChinaVision Media Group Limited in late June.

(ManagerMagazin) Siemens wants to buy U.S. compressor manufacturers Dresser-Rand

Siemens wants to buy U.S. compressor manufacturers Dresser-Rand

Siemens CEO Kaeser prepares for months before a bid for the compressor and turbine manufacturer Dresser-Rand. If the management of the U.S. group fight, Kaeser also attracts a hostile takeover into consideration.

Hamburg - The Siemens Group wants to buy the Houston-based compressor and turbine manufacturer Dresser-Rand. Chief Executive Officer Joe Kaeser ready for many months before an appropriate bid for the U.S. supplier for the oil and gas industry, the manager magazine reports in its new issue (Release date: July 18), citing Siemens circles. Should Dresser-Rand Management defend, Siemens also prefer a hostile takeover bid in consideration. A consultant, the New York investment bank Lazard is, it mandated for some time.


During the bidding battle for the French rival Alstom in May and June Kaeser have put the Dresser-Rand project temporarily on ice, the manager magazin on. Now the attack on the New York-listed companies will no longer have to wait long. Dresser-Rand provides, among other compressors and turbines for the promotion, processing, liquefaction and transportation of gas.
3.4 billion euros plus additional premium would be due

Dresser-Rand would be Siemens' Show Chart largest acquisition since the overpriced purchase of U.S. diagnostics company Dade Behring in 2007. Approximately $ 4.6 billion, the equivalent of 3.4 billion euros, the Texas company currently costs in the stock market. A further consideration an additional premium.


Kaeser, Siemens intends to 'build so far Maues business with the U.S. oil and gas industry with acquisitions in order to benefit from the U.S. boom in the promotion of unconventional oil and gas (fracking). Beginning of May had already announced the acquisition of the business with gas turbines and compressors from the British aircraft turbine manufacturers Rolls-Royce of Siemens boss. These are used primarily in the oil and gas industry. Moreover begins on August 1, with the former Shell manager Lisa Davis to an American as a new energy board, based in Houston.
Kaeser predecessor Peter Löscher have commanded for Dresser-Rand about two years ago, the magazine further. At that time, Dresser-Rand CEO Vincent Volpe refused.

A Siemens spokesman declined to comment on the information.

(ManagerMagazin) the Deutsche Telekom billion Poker

With aggressive marketing John Legere has made the severed Telekom subsidiary T-Mobile in the U.S. for the trendy "Uncarrier": Now the bride is pretty - probably so pretty that the Bonn hold on to her.

Hamburg / Bellevue - magenta-colored T-shirt, a shiny black leather jacket, the tanned face framed by the dark casual Mähe. To imagine that John Legere is the Bad Boy of the American mobile industry, is take a look.

If it fails then even in his usual public speech pattern also flies nor the last doubts: "Bullshit", "crap" or "asskicking" are frequently used vocabulary. The competition he dismisses happy times as "greedy bastards" or "F-nckers" from raping the customers and deprive them of their last money.
If the dismay after his attacks are far too big, he crawls on Twitter to crosses. But actually, his crude appearances including provoziertem Party Rausschmiss program: Legere wants to sell himself as a man of the people, arrive at employees and customers as one of them. Not as a rigid corporate boss.

"I think the staff can relate to it as I speak, the customer with how I think and speak. And that's who I am," says the "T-Com" boss as the mobile operators Legere likes to call it, its communication strategy.

A few months ago it looked very different. Then came today's Bad Boy, to the Deutsche Telekom Show Chartas the savior chosen their U.S. business had completely compliant to industry. His first interview as T-Mobile's U.S. chief he was very well-mannered and respectable - in suit and tie. When Telekom Group Global Crossing, where he distinguished himself as a tough restructuring specialist who in the U.S. was extremely controversial manager and avid runner even known for its elegant appearance and polished shoes.
From pale telephone provider to hip "Uncarrier"

Since much has happened. More than 25 percent of the share price of T-Mobile USA has increased since taking office Near Legere. From the pale, unattractive U.S. subsidiary of Telekom, which not even the iPhone had on offer, with Legere at the top of a hipper "Uncarrier" has become - with free music streaming offering , which allows customers to run in droves.

More than 3 million customers paying customers, T-Mobile can win last year. More than 1.6 million of them alone in the final quarter of 2013 - the fastest growth for eight years.