Reportedly evaluating a possible merger with Fiat - financial press
BN 07/24 13:01 *DANSKE CEO: HAVE TO PREPARE FOR LOW RATES, VOLATILITY IN 3Q
BN 07/24 13:01 *DANSKE CEO THOMAS BORGEN COMMENTS IN TELECONFERENCE
BN 07/24 13:00 *DANSKE CEO SAYS UNLIKELY TO MEET 2014 TRADING INCOME GUIDANCE
BN 07/24 13:01 *DANSKE CEO THOMAS BORGEN COMMENTS IN TELECONFERENCE
BN 07/24 13:00 *DANSKE CEO SAYS UNLIKELY TO MEET 2014 TRADING INCOME GUIDANCE
*DANSKE CEO SAYS UNLIKELY TO MEET 2014 TRADING INCOME GUIDANCE
2014-07-24 13:00:54.956 GMT
--BLANCHE GATT
-0- Jul/24/2014 13:00 GMT
2014-07-24 13:00:54.956 GMT
--BLANCHE GATT
-0- Jul/24/2014 13:00 GMT
Organovo shares soaring 20% pre-market after it disclosed that it has entered into an agreement with Janssen Research and Development, unit of Johnson and Johnson (JNJ) to evaluate the use of 3D bio-printed tissue in a drug discovery setting
Gapping down
In reaction to disappointing earnings/guidance: ANGI -25.1%, TRIP -10.1%, PLCM -5.3%, DNKN -5.1%, QCOM -4.4%, TQNT -4.3%, CRUS -4.3%, BBEP -3.1%, VAR -2.9%, GM -2.4%, MNRO -2.3%, ALXN -1.8%, DHI -1.7%, T -1.4%, ETFC -1.4%, TEX -1.4%, CAKE -1.3%, CAT -1.3%, TSCO -1.1%, SGMO -1%, TER -0.9%, BSX -0.9%, GPI -0.9%, CELG -0.8%, RDWR -0.6%.
M&A news: EGAS -3.2% (responds to press release issued by Algonquin Power & Utilities and reiterates rejection of their grossly inadequate, unsolicited offers), BBEP -3.1% (acquired QR Energy LP in a unit-for-unit exchange implying a transaction value of ~ $3.0 bln).
Other news: CALI -33.9% (co said it will vigorously oppose 'grossly unfair and damaging' plan by Depository Trust Company to impose 'global lock' on its securities), GPRC -13.2% (reported receipt of notice from DTC of plans to impose 'global lock' on its securities; company says DTC plans are 'unfair and unnecessarily damaging to current shareholders and is reviewing options'), SRPT -9.2% (discloses that Arthur Krieg, Senior Vice President and Chief Scientific Officer, was terminated from his position with the company), INCY -8.1% (also announces top-line results from RELIEF trial of ruxolitinib in patients with polycythemia vera; statistical significance not achieved for the primary endpoint of symptom control; positive trends in favor of ruxolitinib versus hydroxyurea observed),MHFI -7.6% (receives Wells Notice from SEC regarding S&P's rating of six commercial mortgage backed securities transactions in 2011), GOV -5.6% (prices 13.5 mln common shares at $23.50 per share), QUNR -1.9% (following TRIP results), INO -1.5% (files for $175 mln mixed securities shelf offering).
Analyst comments: EIX -3.9% (downgraded to Neutral from Buy at Janney) STR -1.2% (downgraded to Neutral from Buy at Citigroup ), FCX -1.1% (downgraded to Neutral from Buy at BofA/Merrill), BA -1% (downgraded to Neutral from Buy at BofA/Merrill).
In reaction to disappointing earnings/guidance: ANGI -25.1%, TRIP -10.1%, PLCM -5.3%, DNKN -5.1%, QCOM -4.4%, TQNT -4.3%, CRUS -4.3%, BBEP -3.1%, VAR -2.9%, GM -2.4%, MNRO -2.3%, ALXN -1.8%, DHI -1.7%, T -1.4%, ETFC -1.4%, TEX -1.4%, CAKE -1.3%, CAT -1.3%, TSCO -1.1%, SGMO -1%, TER -0.9%, BSX -0.9%, GPI -0.9%, CELG -0.8%, RDWR -0.6%.
M&A news: EGAS -3.2% (responds to press release issued by Algonquin Power & Utilities and reiterates rejection of their grossly inadequate, unsolicited offers), BBEP -3.1% (acquired QR Energy LP in a unit-for-unit exchange implying a transaction value of ~ $3.0 bln).
Other news: CALI -33.9% (co said it will vigorously oppose 'grossly unfair and damaging' plan by Depository Trust Company to impose 'global lock' on its securities), GPRC -13.2% (reported receipt of notice from DTC of plans to impose 'global lock' on its securities; company says DTC plans are 'unfair and unnecessarily damaging to current shareholders and is reviewing options'), SRPT -9.2% (discloses that Arthur Krieg, Senior Vice President and Chief Scientific Officer, was terminated from his position with the company), INCY -8.1% (also announces top-line results from RELIEF trial of ruxolitinib in patients with polycythemia vera; statistical significance not achieved for the primary endpoint of symptom control; positive trends in favor of ruxolitinib versus hydroxyurea observed),MHFI -7.6% (receives Wells Notice from SEC regarding S&P's rating of six commercial mortgage backed securities transactions in 2011), GOV -5.6% (prices 13.5 mln common shares at $23.50 per share), QUNR -1.9% (following TRIP results), INO -1.5% (files for $175 mln mixed securities shelf offering).
Analyst comments: EIX -3.9% (downgraded to Neutral from Buy at Janney) STR -1.2% (downgraded to Neutral from Buy at Citigroup ), FCX -1.1% (downgraded to Neutral from Buy at BofA/Merrill), BA -1% (downgraded to Neutral from Buy at BofA/Merrill).
Gapping up
In reaction to strong earnings/guidance: VDSI +14.9%, LOGI +14.8%, QRE +11.3%, AGEN +9.8%, FB +9.2%, TDY +9%, FTNT +8.6%, SKX +8.4%, NOK +8.2%, UA +5.6%, EGHT +5.5%, HBI +5.2%, COG +4.7%, ORLY +4.4%, RJF +4%, PTEN +3.9%, ILMN +3.5%, JBLU +3.3%, NVEC +2.9%, POT +2.9%, INFN +2.8%, CRI +2.8%, UAL +2.2%, UAL +2.2%, FFIV +2%, IMAX+1.9%, SQNS +1.8%, MMM +1.8%, BMY +1.6%, HOT +1.5%, CAM +1.5%, CTXS +1.3%, ABC +1.3%, GILD +1.1%, NURO +1%.
M&A news: QRE +11.3% (to be acquired by Breitburn Energy Partners (BBEP)), ARIA +7.1% (attributed to a positive tweet that has since been deleted; Tweet was with regards to a SHPG for ARIA rumor).
Other news: APP +8.3% (disclosed details of new Board of Directors), DARA +8.1% (cont momentum), SPNC +7.4% (announces FDA clearance of peripheral laser atherectomy devices for in-stent restenosis ), TWTR +4.1% (following FB results), JMBA +3.8% (Engaged Capital disclosed 7.0% stake in SC 13D filing; believe the Issuer possesses multiple paths to value creation, expects to continue to have discussions with the Issuer's management), KNDI +2% (following yesterday's 12% decline), P +2% (following FB results), LNKD +1.3% (following FB results), FEYE +0.9% (on FTNT results), LL +0.9% (responded to lawsuit allegations, stating, "The allegations in this lawsuit concerning our product are simply flat-out false")
Analyst comments: WIBC +3.4% (upgraded to Strong Buy from Outperform at Raymond James), RKUS +2.6% (added to Conviction Buy list at Goldman), UIS +1.4% (upgraded to Positive from Neutral at Susquehanna), ZFGN +0.6% (initiated with a Outperform at Leerink Partners)
In reaction to strong earnings/guidance: VDSI +14.9%, LOGI +14.8%, QRE +11.3%, AGEN +9.8%, FB +9.2%, TDY +9%, FTNT +8.6%, SKX +8.4%, NOK +8.2%, UA +5.6%, EGHT +5.5%, HBI +5.2%, COG +4.7%, ORLY +4.4%, RJF +4%, PTEN +3.9%, ILMN +3.5%, JBLU +3.3%, NVEC +2.9%, POT +2.9%, INFN +2.8%, CRI +2.8%, UAL +2.2%, UAL +2.2%, FFIV +2%, IMAX+1.9%, SQNS +1.8%, MMM +1.8%, BMY +1.6%, HOT +1.5%, CAM +1.5%, CTXS +1.3%, ABC +1.3%, GILD +1.1%, NURO +1%.
M&A news: QRE +11.3% (to be acquired by Breitburn Energy Partners (BBEP)), ARIA +7.1% (attributed to a positive tweet that has since been deleted; Tweet was with regards to a SHPG for ARIA rumor).
Other news: APP +8.3% (disclosed details of new Board of Directors), DARA +8.1% (cont momentum), SPNC +7.4% (announces FDA clearance of peripheral laser atherectomy devices for in-stent restenosis ), TWTR +4.1% (following FB results), JMBA +3.8% (Engaged Capital disclosed 7.0% stake in SC 13D filing; believe the Issuer possesses multiple paths to value creation, expects to continue to have discussions with the Issuer's management), KNDI +2% (following yesterday's 12% decline), P +2% (following FB results), LNKD +1.3% (following FB results), FEYE +0.9% (on FTNT results), LL +0.9% (responded to lawsuit allegations, stating, "The allegations in this lawsuit concerning our product are simply flat-out false")
Analyst comments: WIBC +3.4% (upgraded to Strong Buy from Outperform at Raymond James), RKUS +2.6% (added to Conviction Buy list at Goldman), UIS +1.4% (upgraded to Positive from Neutral at Susquehanna), ZFGN +0.6% (initiated with a Outperform at Leerink Partners)
Coca-Cola Ent beats by $0.02, reports revs in-line; reaffirms FY14 guidance (48.76)
Reports Q2 (Jun) earnings of $0.90 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.88; revenues rose 8.2% year/year to $2.33 bln vs the $2.34 bln consensus.
- Total second-quarter volume grew 3½ percent, with growth in sparkling drinks of
3.5 percent. - CCE affirms its guidance for full-year 2014. It continues to expect 2014 earnings per diluted share growth of approximately 10%, net sales growth in a low single-digit range, and operating income growth in a mid-single-digit range.
3M reports EPS in-line, revs in-line; reaffirms FY14 EPS guidance (144.69)
Reports Q2 (Jun) earnings of $1.91 per share, in-line with the Capital IQ Consensus Estimate of $1.91; revenues rose 4.9% year/year to $8.13 bln vs the $8.09 bln consensus. Co reaffirms guidance for FY14, sees EPS of $7.30-7.55 vs. $7.47 Capital IQ Consensus Estimate.
- Co paid $556 million in cash dividends to shareholders and repurchased $1.4 billion of its own shares during Q2.
- "Our businesses continued to execute very well in the Q2...Organic sales growth was again positive across all businesses and geographic regions which helped drive double-digit growth in EPS. Strong productivity fueled increased growth investments, and operating margins increased year-on-year to nearly 23%."
- "In addition to a strong operating performance, we are also deploying capital more aggressively to both improve the business and to enhance shareholder returns. On July 16, we announced the acquisition of the remaining 25% of our Sumitomo 3M subsidiary in Japan for a purchase price of $885 million. And during the second quarter we paid $2.0 billion to shareholders via a combination of cash dividends and gross share repurchases. My thanks to the 3M team for the results thus far in 2014."
*GM 2Q ADJ. EPS 58C, EST. 59C
Early premarket gappers
Gapping up: LOGI +13.3%, FTNT +8.6%, SKX +8.5%, NOK +8.1%, FB +7.7%, SPNC +7.3%, VDSI +6.7%, APP +5.5%, EGHT +5.5%, HBI +5.2%, QRE +4.5%, ORLY +4.4%, RJF +4%, POT +4%, INFN +3.9%, JMBA +3.8%, NVEC +2.9%, CRI +2.8%, TWTR +2.4%, GILD +1.9%, SQNS +1.8%, P +1.6%, HOT +1.5%, CTXS +1.3%, PTEN +1.3%, PHM +1.3%, ALXN +1.1%, FEYE+0.9%, LL +0.9%, SUSQ +0.9%, WFT +0.9%, SWKS +0.7%, AF +0.7%, ALSN +0.7%, LNKD +0.6%
Gapping down: CALI -33.9%, ANGI -25.3%, GPRC -13.2%, TRIP -9.8%, INCY -8.1%, MHFI -7.6%, GOV -5.6%, QCOM -5%, TQNT -4.3%, CRUS -4.3%, PLCM -4.2%, VAR -2.9%, KNDI -2.4%, ILMN -2.4%, QUNR -1.9%, TSCO -1.6%, DNKN -1.6%, INO -1.5%, INO -1.5%, ETFC -1.4%, TEX -1.4%, CAKE -1.3%, PCLN -1.1%, BBEP -1.1%, DO -1.1%, SGMO -1%, TER -0.9%, T -0.8%,RDWR -0.6%
Gapping down: CALI -33.9%, ANGI -25.3%, GPRC -13.2%, TRIP -9.8%, INCY -8.1%, MHFI -7.6%, GOV -5.6%, QCOM -5%, TQNT -4.3%, CRUS -4.3%, PLCM -4.2%, VAR -2.9%, KNDI -2.4%, ILMN -2.4%, QUNR -1.9%, TSCO -1.6%, DNKN -1.6%, INO -1.5%, INO -1.5%, ETFC -1.4%, TEX -1.4%, CAKE -1.3%, PCLN -1.1%, BBEP -1.1%, DO -1.1%, SGMO -1%, TER -0.9%, T -0.8%,RDWR -0.6%
Eli Lilly beats by $0.03, reports revs in-line; reaffirms FY14 EPS guidance, revs guidance (64.25)
Reports Q2 (Jun) earnings of $0.68 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.65; revenues fell 16.8% year/year to $4.93 bln vs the $4.9 bln consensus.
- In the second quarter of 2014, worldwide total revenue was $4.936 billion, a decrease of 17 percent compared with the second quarter of 2013. The revenue decrease was due to a 17 percent decline in volume; the impact of changes in price and foreign exchange rates on worldwide revenue was negligible. The decrease in worldwide volume was driven by the loss of U.S. patent exclusivity for Cymbalta, and to a lesser extent Evista®, partially offset by volume gains for several other products. Total revenue in the U.S. decreased 30 percent to $2.380 billion, driven by lower demand for Cymbalta and Evista following their patent expiration. Total revenue outside the U.S. increased 1 percent to $2.556 billion, driven by higher volume, including the impact of the acquisition of Lohmann Animal Health in the second quarter of 2014, partially offset by lower prices.