Gannett: Gabelli discusses GCI cars.com deal, spin off
Gabeli had expected GCI should separate its broadcasting & publishing businesses in order to surface value. They had estimated a 2015/2016 PMV of ~$39 based on 4x publishing EBITDA, 8x broadcast cash flow and 10x digital EBITDA. There could be upside to our numbers depending upon the level and speed at which BLC synergies are captured and the prospect of incremental FCF from the London acquisition.
BN 08/05 13:07 *UNICREDIT: MUSTIER TO JOIN BANK INTL ADVISORY BOARD AS NON-EXEC
BN 08/05 13:07 *UNICREDIT: MUSTIER TO BE SUCCEEDED BY GIANNI FRANCO PAPA
BN 08/05 13:06 *UNICREDIT: JEAN PIERRE MUSTIER TO STEP DOWN AS DEP CIB GEN MAN
BN 08/05 13:07 *UNICREDIT: MUSTIER TO BE SUCCEEDED BY GIANNI FRANCO PAPA
BN 08/05 13:06 *UNICREDIT: JEAN PIERRE MUSTIER TO STEP DOWN AS DEP CIB GEN MAN
UniCredit Says Mustier to Step Down as Dep CIB General Manager
2014-08-05 13:10:16.736 GMT
By Francesca Cinelli
Aug. 5 (Bloomberg) -- Jean Pierre Mustier to be succeeded
by Gianni Franco Papa, UniCredit says in statement.
* Mustier to join bank international advisory board as non-
executive director, take on external role
Link to Statement:{NSN N9U4DD3PWT1C <GO>}
Link to Company News:{UCG IM <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Francesca Cinelli in Milan at +39-02-80644-252 or
fcinelli@bloomberg.net
To contact the editor responsible for this story:
Chiara Remondini at +39-02-8064-4241 or
cremondini@bloomberg.net
2014-08-05 13:10:16.736 GMT
By Francesca Cinelli
Aug. 5 (Bloomberg) -- Jean Pierre Mustier to be succeeded
by Gianni Franco Papa, UniCredit says in statement.
* Mustier to join bank international advisory board as non-
executive director, take on external role
Link to Statement:{NSN N9U4DD3PWT1C <GO>}
Link to Company News:{UCG IM <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Francesca Cinelli in Milan at +39-02-80644-252 or
fcinelli@bloomberg.net
To contact the editor responsible for this story:
Chiara Remondini at +39-02-8064-4241 or
cremondini@bloomberg.net
Reiterates FY15 Rev down low double digits, SSS North America down high teens, gross margin 69-70%, op margin in high teens - conf call
- Adjusts FY15 capex to ~$350M (prior ~$400M)
- In FY15, global square footage to grow 2%, while North America square footage to contract 5%
- To be 10 net openings in China in FY15, store number unchanged in Japan
- Again pledges to maintain the dividend - Reiterates to return to sustainable growth in FY16-17
BN 08/05 12:40 *FIAT HASN'T HAD ANY NOTICES OF EXERCISE OF CASH EXIT RIGHTS
BN 08/05 12:40 *FIAT SAYS RUMORS ARE GROUNDLESS
BN 08/05 12:40 *FIAT SAYS RUMORS ARE GR
BN 08/05 12:39 *FIAT: RUMORS SAID IT GOT NOTICES TO EXERCISE CASH EXIT RIGHTS
BN 08/05 12:39 *FIAT AWARE OF SOME MKT RUMORS
BN 08/05 12:40 *FIAT SAYS RUMORS ARE GROUNDLESS
BN 08/05 12:40 *FIAT SAYS RUMORS ARE GR
BN 08/05 12:39 *FIAT: RUMORS SAID IT GOT NOTICES TO EXERCISE CASH EXIT RIGHTS
BN 08/05 12:39 *FIAT AWARE OF SOME MKT RUMORS
*FIAT HASN’T HAD ANY NOTICES OF EXERCISE OF CASH EXIT RIGHTS
2014-08-05 12:41:18.403 GMT
--BRIAN LYSAGHT
-0- Aug/05/2014 12:41 GMT
2014-08-05 12:41:18.403 GMT
--BRIAN LYSAGHT
-0- Aug/05/2014 12:41 GMT
Gapping down
In reaction to disappointing earnings/guidance: FIVN -27%, SALE -23.9%, END -12.8%, LF -6.8%, MSI -6.4%, ECOM -5.3%, CTIC -4.8%, BLMN -4.1%, IHG -3.9%, MDR -3.6%, ROSE -3.3%, GTXI -3.3%, SYKE -3.1%, OESX -3%, WAIR -2.7%, ACT -2.6%, CNQR -2.3%, REGN -2.2%, DRC -2%, AREX -1.9%, CNK -1.9%, RHP -1.9%, ALLT -1.8%, PXD -1.5%, TGT -1.3%, ENH -1.2%,HCLP -1%.
M&A news: TEF -0.7% (TEF launches acquisition offer for Vivendi's (VIV) GVT unit), VIV -0.2% (TEF launches acquisition offer for Vivendi's (VIV) GVT unit).
Select EUrelated names showing weakness: ALU -3.5%, DB -2.6%, UBS -1.6%, ARMH -1.1%, BCS -0.9%.
Other news: DRAM -3.1% (pulling back from yesterday's move), STAY -2.2% (announced launch of secondary offering by selling shareholder), PNRA -2% (announced CFO departure; Bill Moreton, Executive Vice Chairman and former CEO, to serve as interim CFO), ESI -1.4% (announced that CEO Kevin M. Modany intends to resign, effective February 4, 2015; John Dean named Executive Chairman; Eugene Feichtner promoted to President and COO), BHP -1.1% (potentially related to weaker than expected Aus Trade Balance), BERY -1% (announced 14,728,218 share secondary public offering by certain funds affiliated with Apollo Global Management).
In reaction to disappointing earnings/guidance: FIVN -27%, SALE -23.9%, END -12.8%, LF -6.8%, MSI -6.4%, ECOM -5.3%, CTIC -4.8%, BLMN -4.1%, IHG -3.9%, MDR -3.6%, ROSE -3.3%, GTXI -3.3%, SYKE -3.1%, OESX -3%, WAIR -2.7%, ACT -2.6%, CNQR -2.3%, REGN -2.2%, DRC -2%, AREX -1.9%, CNK -1.9%, RHP -1.9%, ALLT -1.8%, PXD -1.5%, TGT -1.3%, ENH -1.2%,HCLP -1%.
M&A news: TEF -0.7% (TEF launches acquisition offer for Vivendi's (VIV) GVT unit), VIV -0.2% (TEF launches acquisition offer for Vivendi's (VIV) GVT unit).
Select EUrelated names showing weakness: ALU -3.5%, DB -2.6%, UBS -1.6%, ARMH -1.1%, BCS -0.9%.
Other news: DRAM -3.1% (pulling back from yesterday's move), STAY -2.2% (announced launch of secondary offering by selling shareholder), PNRA -2% (announced CFO departure; Bill Moreton, Executive Vice Chairman and former CEO, to serve as interim CFO), ESI -1.4% (announced that CEO Kevin M. Modany intends to resign, effective February 4, 2015; John Dean named Executive Chairman; Eugene Feichtner promoted to President and COO), BHP -1.1% (potentially related to weaker than expected Aus Trade Balance), BERY -1% (announced 14,728,218 share secondary public offering by certain funds affiliated with Apollo Global Management).
Gapping up
In reaction to strong earnings/guidance: NLS +12.8%, GTAT +10.4%, AKRX +7%, COH +6.2%, CHGG +6.1%, ODP +5.7%, EPAM +4.4%, CAR +4.2%, JMBA +4.2%, CRZO +4%, TSRA +3.8%, ANV +3.7%, ANSS +3.2%, MWA +3.1%, ELNK +3.1%, ARQL +3.1%, REGI +2.6%, KFRC +2.4%, ARCO +2.3%, AIG +2.1%, WLK +2.1%, MRO +2%, MGM +1.8%, VSI +1.4%, THC +1.3%,CVS +1.3%, KWK +1.1%, BCRX +1%, .
M&A news: MNI +12.7% (announces agreement to sell its 25.6% stake in Cars.com to Gannett (GCI)), GCI +6.4% (MNI announces agreement to sell its 25.6% stake in Cars.com to Gannett (GCI)), AHC +6.2% (A.H. Belo to sell its units in Classified Ventures to Gannett (GCI) for a price that values CV at $2.5 bln; remains Cars.com reseller).
Select solar stocks trading higher: YGE +2.8%, TSL +2.8%, CSIQ +2%, FSLR +1.7%, HSOL +1.1%, SUNE +0.7%, JKS +0.3%.
Other news: BAXS +25% (announces 2 new patents for VEO direct lateral and AxiaLIF minimally invasive interbody fusion systems), USU +8% (disclosed an amendment to its agreement with the Department of Energy that provides for additional funds of ~$5.7 mln), ZNGA +1.8% (still checking), P +1.7% (may launch Talk Radio for cars, according to reports out yesterday afternoon), GRPN+1.3% (still checking), TASR +1.2% (reports orders for hundreds of AXON Cameras for July), .
Analyst comments: HIMX +4.5% (upgraded to Buy from Neutral at BofA/Merrill), SERV +3.5% (initiated with a Overweight at Piper Jaffray), ADHD +2.3% (initiated with a Overweight at Piper Jaffray), FMS +1.8% (upgraded to Buy from Neutral at UBS), THC +1.3% (upgraded to Neutral from Negative at Susquehanna)
In reaction to strong earnings/guidance: NLS +12.8%, GTAT +10.4%, AKRX +7%, COH +6.2%, CHGG +6.1%, ODP +5.7%, EPAM +4.4%, CAR +4.2%, JMBA +4.2%, CRZO +4%, TSRA +3.8%, ANV +3.7%, ANSS +3.2%, MWA +3.1%, ELNK +3.1%, ARQL +3.1%, REGI +2.6%, KFRC +2.4%, ARCO +2.3%, AIG +2.1%, WLK +2.1%, MRO +2%, MGM +1.8%, VSI +1.4%, THC +1.3%,CVS +1.3%, KWK +1.1%, BCRX +1%, .
M&A news: MNI +12.7% (announces agreement to sell its 25.6% stake in Cars.com to Gannett (GCI)), GCI +6.4% (MNI announces agreement to sell its 25.6% stake in Cars.com to Gannett (GCI)), AHC +6.2% (A.H. Belo to sell its units in Classified Ventures to Gannett (GCI) for a price that values CV at $2.5 bln; remains Cars.com reseller).
Select solar stocks trading higher: YGE +2.8%, TSL +2.8%, CSIQ +2%, FSLR +1.7%, HSOL +1.1%, SUNE +0.7%, JKS +0.3%.
Other news: BAXS +25% (announces 2 new patents for VEO direct lateral and AxiaLIF minimally invasive interbody fusion systems), USU +8% (disclosed an amendment to its agreement with the Department of Energy that provides for additional funds of ~$5.7 mln), ZNGA +1.8% (still checking), P +1.7% (may launch Talk Radio for cars, according to reports out yesterday afternoon), GRPN+1.3% (still checking), TASR +1.2% (reports orders for hundreds of AXON Cameras for July), .
Analyst comments: HIMX +4.5% (upgraded to Buy from Neutral at BofA/Merrill), SERV +3.5% (initiated with a Overweight at Piper Jaffray), ADHD +2.3% (initiated with a Overweight at Piper Jaffray), FMS +1.8% (upgraded to Buy from Neutral at UBS), THC +1.3% (upgraded to Neutral from Negative at Susquehanna)
Special Situations/RARe©: Sky Deutschland and opportunities in the European cable sector BUY SKYD GR; JAZ SM, NOS PL, TNET BB
Early premarket gappers
Gapping up: NLS +12.8%, GTAT +12.2%, GTAT +12.2%, USU +8%, AKRX +7.8%, HIMX +6.9%, CHGG +6.1%, GCI +5.2%, COH +5.2%, EPAM +4.4%, CAR +4.2%, JMBA +4.2%, TSRA +3.8%, ANV +3.7%, ARQL +3.1%, ODP +2.7%, REGI +2.6%, ARCO +2.6%, ZNGA +2.5%, MWA +2.3%, CVS +2.3%, WLK +2.1%, MRO +2%, AIG +1.8%, MGM +1.8%, P +1.7%, HCLP +1.4%,BLMN +1.4%, VSI +1.4%, GSK +1.2%, KWK +1.1%, MSI +1%, BCRX +1%
Gapping down: FIVN -28.5%, SALE -21.2%, LF -6.8%, CTIC -4.8%, ALU -4.1%, IHG -4%, MDR -3.6%, ECOM -3.5%, ROSE -3.3%, GTXI -3.3%, SYKE -3.1%, OESX -3%, ESI -2.7%, WAIR -2.7%, CNQR -2.3%, STAY -2.2%, PNRA -2%, DRC -2%, AREX -1.9%, CNK -1.9%, RHP -1.9%, ARMH -1.8%, ALLT -1.8%, PXD -1.5%, BHP -1.2%, ENH -1.2%, BERY -1%
Gapping down: FIVN -28.5%, SALE -21.2%, LF -6.8%, CTIC -4.8%, ALU -4.1%, IHG -4%, MDR -3.6%, ECOM -3.5%, ROSE -3.3%, GTXI -3.3%, SYKE -3.1%, OESX -3%, ESI -2.7%, WAIR -2.7%, CNQR -2.3%, STAY -2.2%, PNRA -2%, DRC -2%, AREX -1.9%, CNK -1.9%, RHP -1.9%, ARMH -1.8%, ALLT -1.8%, PXD -1.5%, BHP -1.2%, ENH -1.2%, BERY -1%
