Challenges : Suez, Total... 19 accords commerciaux signés pendant la visite du p

Suez, Total... 19 accords commerciaux signés pendant la visite du prince saoudien

La visite en France du prince héritier saoudien Mohammed ben Salmane se soldera par la signature de 19 accords commerciaux entre entreprises françaises et saoudiennes, a annoncé mardi une source de la délégation saoudienne.

La visite en France du prince héritier saoudien Mohammed ben Salmane se soldera par la signature de 19 accords commerciaux entre entreprises françaises et saoudiennes, a annoncé mardi une source de la délégation saoudienne.

Ces lettres d'intention concernent les secteurs de la pétrochimie, du traitement de l'eau, des contenus numériques ou encore de l'industrie, avec notamment Total, Technip et Suez, au deuxième jour d'une visite en France du prince héritier saoudien Mohamed ben Salman.

Saudi Aramco et Total ont signé un protocole d'accord en vue de la construction d'un vaste complexe pétrochimique à Jubail, en Arabie saoudite. L'entreprise publique saoudienne a aussi signé un protocole d'accord avec Suez dans le traitement des eaux usées et un accord avec Technip dans les services parapétroliers. Par ailleurs, un accord dans les moteurs d'avions a été signé entre Safran et la compagnie aérienne saoudienne Flynas.

Le groupe Webedia (sites Allociné ou Purepeole) ainsi que le géant du traitement de l'eau et des déchets Veolia figurent également parmi les entreprises françaises concernées.

Mohammed ben Salmane termine mardi une visite officielle de deux jours en France, à teneur culturelle et diplomatique plus qu'économique. Le président français Emmanuel Macron a d'ailleurs déjà annoncé qu'il se rendrait en Arabie saoudite "en fin d'année", cette fois pour parapher des contrats.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance
:
  • EMKR -8%, (lowers Q2 sales guidance), TUP -3.9%, (sees Q1 below consensus), MSM-0.8%
Other news:
  • TBK -1.9% (commenced an underwritten public offering of shares of its common stock with a targeted transaction size of $175 million), .
Analyst comments:
  • HSY -1.9% (downgraded to Sell from Neutral at UBS)
  • LGIH -0.9% (downgraded to Neutral from Outperform at Wedbush)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance
:
  • SMPL +9.4%
M&A news:
  • PAY +52.8% (VeriFone to be acquired by Francisco Partners for $3.4 bln -- stockholders to receive $23.04 per share in cash)
  • TEN +6.8% (to acquire Federal-Mogul from Icahn Enterprises L.P. (IEP) for a total consideration of $5.4 bln), IEP +2.2%
Select auto and air craft related names showing strength:
  • GM +3%, BA +2.7%, FCAU +2.3%, F +2.1%
Select metals/mining stocks trading higher:
  • RIO +4.5%, BHP +4.1%, FCX +3%, X +2.6%
Select oil/gas related names showing strength:
  • XOM +1.8%, SLB +1.8%, RDS.A +1.5%, COP +1.5%, TOT +1%
Other news:
  • WATT +23.8% (receives FCC Certification for its near field wireless charging transmitter running at 900 MHz), PME +19.2% (expects to significantly increase its current production capacity), SPPI +13.5% (announces the availability of updated poziotinib Phase 2 data in MD Anderson's EGFR Exon 20 Mutant Non-Small Cell Lung Cancer study), KPTI +10% (FDA has granted Fast Track designation to selinexor for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy), UAL +2.2% (reports March traffic +6.5% y/y and consolidated capacity +3.8% y/y and prelim Q1 op results), HA +1.8% ( reports March total traffic), .
Analyst comments:
  • IOVA +6.6% (upgraded to Buy at B. Riley FBR)
  • NVDA +3.7% (upgraded to Overweight at Morgan Stanley)
  • STX +2.9% (upgraded to Overweight at Morgan Stanley)
  • MU +2.5% (defended at Mizuho)
  • ULTA +2% (upgraded to Overweight from Neutral at Piper Jaffray)
  • XOM +1.8% (added to US 1 List at BofA/Merrill)
  • BDX +1.2% (upgraded to Buy from Neutral at Citigroup)

>>> Palo Alto Networks to acquire Israel-based Secdo; terms not disclosed (187.

Palo Alto Networks to acquire Israel-based Secdo; terms not disclosed
Secdo combines Endpoint Detection and Response with Security Automation to provide purpose-built solution that force multiplies the productivity of security operations teams' day-to-day, allowing them to get ahead and be proactive in defense.
  • The acquisition is expected to close during Q3
  • Terms of the acquisition were not disclosed.

>>> US Early Pre-Market Gappers

Gapping up:
  • PAY +51.7%, WATT +26.4%, PME +11%, SPPI +8.8%, RIO +4.1%, NVDA +3.9%, BZUN+3.6%, BHP +3.6%, GM +2.6%, BABA +2.5%, STX +2.4%, JD +2.3%, F +2.2%, BIDU+2.1%, BA +2%, FCAU +1.9%, NKE +1.4%, ETSY +1.4%, FCX +1.4%, NEM +1.1%, UAL+1%, X +1%, XOM +0.9%, RDS.A +0.8%, FB +0.7%, TOT +0.7%, COP +0.7%, MSM+0.6%
Gapping down:
  • EMKR -8%, TUP -6.7%, TBK -1.9%

>>> AveXis/Novartis: Bidder advised by Hogan Lovells, Freshfields Bruckhaus Deri

AveXis/Novartis: Bidder advised by Hogan Lovells, Freshfields Bruckhaus Deringer
09 APR 2018
Swiss drugmaker Novartis’ [VTX:NOVN] legal counsel in its proposed acquisition of AveXis [NASDAQ:AVXS], a clinical-stage gene therapy company, are Hogan Lovells and Freshfields Bruckhaus Deringer, said a person familiar with the matter.
Novartis announced the USD 218-per-share cash deal on Monday, valuing AveXis at USD 8.7bn.
Dyal Co is Novartis’s financial advisor, the person said.
AveXis’ financial advisors are Goldman Sachs and Centerview Partners. Cravath, Swaine and Moore and Cooley are acting as legal counsel for the target.
Novartis and Hogan Lovells declined to comment. Freshfields did not return a request for comment.

>>> Envision finishes suitor management presentations

Envision finishes suitor management presentations
06 APR 2018
Envision Healthcare [NYSE:EVHC], the Nashville, Tennessee-based healthcare services group exploring a sale, is understood to have wrapped up management presentations for suitors this week.
Five groups of suitors are pursuing Envision: KKR [NYSE:KKR]; The Blackstone Group [NYSE:BX] through its portfolio company Team Health; CVC Capital Partners with Leonard Green & Partners; a Hellman & Friedman, Onex[TSX:ONEX] and Clayton Dubilier & Rice consortium; and a The Carlyle Group [NASDAQ:CG] and TPG partnership.
Late last year, Envision announced plans to pursue strategic alternatives after coming under pressure from activist investors and reaching a deal to sell its American Medical Response business to KKR. The company plans to use USD 2.1bn in net proceeds from the divestiture to reduce its USD 6.3bn debt load, picked up from a series of acquisitions.
This news service reported last month that in addition to UnitedHealth [NYSE:UNH], a couple of other strategics have shown interest in Envision’s ambulatory health unit. HCA Healthcare [NYSE: HCA] is among the suitors understood to be in the mix. Strategic interest, including UnitedHealth’s, has been confined to the ambulatory business alone, which accounts for 17% of company sales, it was reported.
Bloomberg News reported last month UnitedHealth had left the Envision process after Envision filed suit against the health insurance giant for breaching a 2009 agreement. The status of UnitedHealth is unclear.

This news service previously named KKR, Blackstone and CVC as suitors. Bloomberg had named H&F, Onex, CD&R, Carlyle and TPG.
This news service previously reported on 19 March that the next milestone for the sale process was expected to be in six weeks when bidders may be asked to table bids with debt and equity financing commitments once management presentations and due diligence are wrapped up. If a deal is struck it is expected to be announced in a couple of months, same report said.
This news service reported in early February that Envision’s board was interested in seeing what valuations suitors offer in the preliminary bids and how they compare against other alternatives for Envision like remaining an independent company.
Evercore, Guggenheim Partners and JPMorgan are working on the review, as reported.
Envision declined comment. HCA Healthcare and Leonard Green did not respond to requests for comment.

NY Post : Wall Street’s #MeToo moment could hit multimillion-dollar tipping poin

Wall Street’s #MeToo moment is going to be huge if the dollars from sexual harassment settlements ever hit the fan, according to a new survey — and disgruntled financial service workers.

Forget about Harvey Weinstein and the world of celebrity high rollers. More than 1 in 5 workers in cash-rich wealth management — from the large firms to smaller broker-dealers peddling stocks, bonds and planning finances — report a “high prevalence” of sexual harassment in the workplace, according to a survey by SourceMedia, a financial media company.

And it’s not much better in other pockets of high finance.

“Like all women who work on Wall Street, I sometimes feel like I am at a frat party,” Rita Robbins, founder and president of Affiliated Advisors in New York, admitted to The Post, referring to the mostly locker-room bad boy culture she says pervades financial services. “Virtually every woman I know has a story or four about horrific behavior that they have been subjected to.”

The revelations of inappropriate sexual innuendo and playboy antics by co-workers and some bosses come as Wall Street so far remains largely unscathed by #MeToo announcements.

But insiders say if financial industry victims break their silence, the consequences could reverberate from Main Street to Wall Street, with multimillion-dollar lawsuits and settlements.

“Sadly, we have felt powerless due to long-standing, corporate culture attitudes,” said Robbins, a female boss who oversees 110 employees.

Insiders and the latest survey reveal how a testosterone-fueled environment rampant with inappropriate behavior bedevils female Wall Street workers.

In a broad survey of professionals that included advisers, bankers, insurance workers and tax accountants, it is the financial advisory staff at brokerage houses who are much more likely to experience unwanted sexual conduct, which is highly prevalent in their sector.

“It’s getting better, but it is a carry-over from years past, when the industry included a substantial amount of flirting and hitting on, which today is more likely than not called sexual harassment,” one male survey respondent reported.

In fact, twice as many pros, or 22 percent, in wealth management, where the vast majority of advisers are men, reported a high prevalence of sexual advances compared with the banking sector.

The lowest reported prevalence, at 8 percent, was among tax and accounting professionals. That industry has a much more even split of male and female workers.

“The stats are mind-boggling,” one male former Merrill Lynch broker said on the condition of anonymity, fearing retribution at his next financial services job. “Everyone knows in the industry but is absolutely terrified to comment publicly, because any comment can used as a weapon against you — and next thing, you are standing on the corner with a box with all your office stuff in it.”

This Wall Street hot shot said not much has changed since he started his career in the early 1990s.

“I knew of one female salesperson on the institutional side at a wirehouse who had to intimately flirt with clients as she was building up her accounts,” he said. “She had to badly compromise herself to keep her job.”