>>> Revlon beats by $0.54, beats on revs

Revlon beats by $0.54, beats on revs
  • Reports Q3 (Sep) earnings of $0.14 per share, $0.54 better than the single analyst estimate of ($0.40); revenues fell 1.7% year/year to $655.4 mln vs the $639.6 mln single analyst estimate.
  • The Company today is also announcing the 2018 Optimization Program, which is expected to deliver in the range of approximately $125 million to $150 million of annualized cost reductions by the end of 2019.
  • Revlon segment net sales in the third quarter of 2018 were $249.5 million, a 2.0% decrease Y/Y
  • Elizabeth Arden segment net sales in the third quarter of 2018 were $122.1 million, +16.5% Y/Y
  • Portfolio segment net sales of $138.4 million in the third quarter of 2018 decreased by 6.4%
  • Fragrances segment net sales of $145.4 million in the third quarter of 2018 decreased by 8.7%

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • YELP -31.3%, UEPS -21.4%, NTRA -15.4%, SWIR -13.8%, ATVI -11%, TTD -10%, EPAY -9.6%, RDFN -8.9%, WPRT -8.2%, MCFT -7.8%, SWKS -7.7%, CTL -7.7%, SGMO -7.5%, FNKO -7.3%, TRXC -6.4%, ASRT -6.3%, XRAY -4.9% (also announces restructuring plan expected to result in $200-225 million of net annual cost savings by 2021), ICUI -4.4%, VRAY -4.2%, BSTI -4%, COLL -3.7%, TSE -3.5%, AMC -3.5%, TCDA -3.4%, INO -3.3%, ZGNX -3%, CHMA -2.9% (also entered into $25 mln 'at the market offering' sales agreement with Cowen), UIS -2.6%, FGEN -2.5%, GMED -2.2%, TSM -1.8% (Oct sales) XON -1.7%, BRS -1.4%, NOG -1.3%, ADNT -1.1%, SBS -1%

M&A news:

  • IIVI -9.9% (to acquire FNSR for $26.00 per share)

Other news:

  • NBEV -18.6% (after filing supplement to the prospectus dated October 16, 2017 - sold an aggregate of 8,088,565 shares of common stock in Sept-Oct of 2018)
  • ACRX -14.3% (commences common stock offering)
  • OMER -11.4% (proposed private offering of $210 mln aggregate principal amount of its Convertible Senior Notes due 2023)
  • OMP -8.4% (Oasis Petroleum to sell select interests in Bobcat DevCo and Beartooth DevCo to Oasis Midstream Partners for $250 mln; has commenced an underwritten public offering of 2.0 mln common units to fund a portion of the acquisition's purchase price)
  • ADRO -5% (presents prelim data from its Phase 1 dose-finding study of ADU-S100)
  • UBS -2.5% (United States sues UBS to recover civil penalties for fraud in the sale of residential mortgage-backed securities; UBS says DOJ's claims are not supported by the facts or the law)
  • PCG -1.5% (continued weakness; PG&E is not proceeding with public safety power shutoff planned for portions of eight northern California counties - weather conditions did notwarrant this safety measure)
  • SRPT -0.8% (prices offering of 3,817,000 shares of its common stock at $131.00 per share)

Analyst comments:

  • YRCW -4.6% (downgraded to Hold from Buy at Stifel)
  • KORS -2% (downgraded to Neutral from Outperform at Credit Suisse)

>>> US Gapping up

Gapping up 
In reaction to strong earnings/guidance:
  • HTZ +16.2%, REV +10.1%, ERI +8.6%, DBX +8.5%, CDNA +6.7%, MGI +5.6%, UPLD +5.5%, SUP +5.4%, LGF.A +5.3%, AL +5%, RDNT +4.9%, UMC +4.7% (Oct sales) SPPI +4.4%, FSCT +4.2%, OSTK +4%, MIME +4%, WSC +3%, FOE +2.8%, JAG +2.8%, SCOR +2.8%, SSP +2.8%, ALTR +2.6%, SENS +2.5%, SYNA +2.3%, HDP +1.8%, DIS +1.7%, AGS +1.6%, SSRM +1.5%, AMPH +1.4%, CBPX +1.1%

M&A news:

  • FNSR +22.4% (to be acquired by II-VI (IIVI) in cash and stock transaction, valued at $26.00 per share)

Other news:

  • ZIOP +10.9% (rescheduled its quarterly conference call to Monday, Nov. 12 - will file 10-Q tomorrow)
  • STNE +4.5% (Warren Buffet's Berkshire Hathaway (BRK.A/B) discloses a 11.3% passive stake)
  • CAR +3.8% (following HTZ results)
  • CRSP +0.8% (CRISPR Therapeutics and MaxCyte enter nto a non-exclusive commercial license agreement that will allow CRISPR Therapeutics to deploy MaxCyte's Flow Electroporation Technology to develop CRISPR/Cas9-based therapies in immuno-oncology)

Analyst comments:

  • CREE +3.4% (upgraded to Buy from Neutral at Goldman)
  • KPTI +2.6% (upgraded to Outperform from Neutral at Wedbush)
  • CADE +1.6% (upgraded to Outperform from Mkt Perform at Keefe Bruyette)
  • NDLS +1.4% (upgraded to Neutra from Underweightl at Piper Jaffray)
  • AAXN +1% (upgraded to Outperform from Neutral at Robert W. Baird)


>>> Le Chabichou (Courchevel) sold to Lavorel Hotels

Le Chabichou sold to Lavorel Hotels
09 NOV 2018
Le Chabichou, a four-star hotel and two Michelin-star restaurant located in Courchevel, France, has been sold by the chef Michel Rochedy to the family-owned hotels operator Lavorel Hotels, according to an announcement from the buyer.
According to its annual account, Le Chabichou recorded EUR 8m in turnover in 2017.

>>> US Early premarket gappers

Early premarket gappers

Gapping up:

  • HTZ +17.9%, FSCT +13.3%, CDNA +10.5%, ZIOP +8.9%, ERI +8.6%, DBX +7.5%, LGF.A +5.6%, MGI +5.6%, UPLD +5.5%, AL +5%, RDNT +4.9%, SPPI +4.4%, MIME +4%, CAR +3.8%, WSC +3%, FOE +2.8%, JAG +2.8%, SCOR +2.8%, ALTR +2.6%, SENS +2.5%, DIS +2.2%, SYNA +1.9%, HDP +1.8%, AGS +1.6%, SSRM +1.5%, ELP +1.2%, CBPX +1.1%

Gapping down:

  • YELP -31%, NBEV -23.2%, UEPS -18.7%, NTRA -18.1%, SWIR -11.3%, ATVI -10.7%, TTD -10%, WPRT -9.7%, OMER -8.9%, OMP -8.8%, FNKO -8%, MCFT -7.8%, SWKS -7.5%, ICUI -7%, EPAY -6.4%, ASRT -6.3%, RDFN -6.1%, CTL -5.6%, XON -5.4%, SGMO -5.1%, XRAY -4.9%, OSTK -4%, VRAY -4%, BSTI -4%, COLL -3.7%, TSE -3.5%, AMC -3.5%, FGEN -3.4%, TCDA -3.4%, INO -3.3%, CHMA -2.9%, UIS -2.6%, TRXC -2%, PCG -1.5%, BRS -1.4%, CGC -1.3%