>>> Marathon Partners discloses updated portfolio positions in 13F filing: New C

Marathon Partners discloses updated portfolio positions in 13F filing: New CMCSA CNNE ELF positions
Highlights from 2017 Q4 filing as compared to 2017 Q3 filing:
  • New positions in: CMCSA (~0.17 mln shares), CNNE (~0.14 mln), ELF (~0.04 mln), ULTA (~0.03 mln)
  • Increased positions in: USFD (to ~1.52 mln shares from ~0.63 mln shares), ORLY (to ~0.03 mln from ~0.02 mln)
  • Maintained positions in: JAX (~0.92 mln shares), HDS (~0.71 mln shares), SFLY (~0.43 mln shares), EBAY (~0.29 mln shares), MAC (~0.27 mln shares), PYPL (~0.26 mln shares),GRUB (~0.2 mln shares)
  • Closed positions in: SEAS (from ~0.8 mln shares), DAR (from ~0.56 mln), TRK (from ~0.16 mln), LTRPA (from ~0.1 mln), TRVG (from ~0.1 mln), TRIP (from ~0.09 mln)
  • Decreased positions in: ONDK (to ~0.78 mln shares from ~1.49 mln shares), MWA (to ~0.3 mln from ~0.55 mln), QVCA (to ~0.23 mln from ~0.28 mln

>>> Temasek Holdings discloses updated portfolio positions in 13F filing

Temasek Holdings discloses updated portfolio positions in 13F filing: New CTL AQUA DWDP positions
Highlights from 2017 Q4 filing as compared to 2017 Q3 filing:
  • New positions in: CTL (~92.9 mln shares), AQUA (~8.09 mln), DWDP (~5.62 mln), DNLI (~4.41 mln), BA (~0.53 mln), MDT (~0.06 mln)
  • Increased positions in: BGNE (to ~1.28 mln shares from ~0.38 mln shares), V (to ~3.66 mln from ~3.29 mln), WP (to ~1.33 mln from ~0.98 mln)
  • Maintained positions in: BABA (~35.5 mln shares), INFO (~17.34 mln shares), UNVR (~14.17 mln shares), GILD (~11.13 mln shares)
  • Closed positions in: MRIN (from ~2.53 mln shares), ATH (from ~0.86 mln)
  • Decreased positions in: BAC (to ~0.53 mln shares from ~0.8 mln shares), KRE (to ~0.34 mln from ~0.52 mln), JPM (to ~0.18 mln from ~0.26 mln), WFC (to ~0.17 mln from ~0.26 mln), MS (to ~0.07 mln from ~0.11 mln), GS (to ~0.01 mln from ~0.02 mln)

>>> US Early premarket gappers

Early premarket gappers
Gapping up:
  • FOSL +79%, IPCC +23.3%, TLND +16.5%, ZSAN +14.8%, ACCO +12.1%, CMG +11.6%,TNDM +10.7%, CCS +10.1%, WIX +9.8%, CARB +7.8%, ORBK +7.1%, TWLO +6.8%, RIOT+5.9%, PTEN +5.4%, BIDU +5.1%, LPTH +4.8%, AKAO +4.7%, SINO +4.6%, ACTG +4.2%,TEX +3.6%, GNMX +3.5%, DENN +3.5%, FANG +3.5%, ICL +3.5%, IOSP +2.9%, ICPT+2.8%, CS +2.7%, WU +2.5%, EXEL +2.4%, GBT +2.3%, OMI +2.2%, GCO +1.9%, TAP+1.7%, YY +1.6%, PSX +1.6%, CRTO +1.6%, IVTY +1.3%, MZOR +1.3%, IIVI +1.2%, ALKS+1.2%, SQ +1.1%, ENDP +1.1%, BXMT +1.1%, AFL +1%, KORS +1%, LSCC +1%, HUBS +1%
Gapping down:
  • TTPH -55.8%, PIRS -13.7%, NMM -12.1%, RARX -8.3%, AVDL -7.1%, GFI -6.9%, ECOM-6.4%, TRUP -5.7%, STNG -5.2%, OHI -5.1%, TYHT -4.4%, QUOT -4.1%, KRNT -3.9%, ZN-3.5%, NBIX -3.2%, PDCO -2.9%, OXY -2.7%, FUN -2.7%, CSOD -2.6%, SKT -2%, SHPG-0.9

>>> Shire plc beats by $0.09, beats on revs; guides FY18 EPS below consensus, re

Shire plc beats by $0.09, beats on revs; guides FY18 EPS below consensus, revs above consensus (132.67)
  • Reports Q4 (Dec) earnings of $3.98 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $3.89; revenues rose 8.9% year/year to $4.14 bln vs the $3.97 bln Capital IQ Consensus.
  • "Shire delivered 8% pro forma product sales growth to $14.4 billion in 2017, an increase of over $1 billion. Of particular note are the strong performance of our Immunology franchise and the significant contribution from recently launched products, as well as growth in international markets. We increased Non GAAP diluted earnings per ADS by 16%, realizing cost synergies ahead of plan. Delivered reported product sales growth of 33%, with the inclusion of a full year of legacy Baxalta sales. Achieved combined pro forma product sales growth of 8%; legacy Shire product sales growth of 7% and legacy Baxalta pro forma product sales growth of 9%. Strong demand for our Immunology products delivered 14% pro forma product sales growth; significant contribution from our subcutaneous immunoglobulin portfolio; CINRYZE supply stabilized in Q4 2017."
  • Co issues guidance for FY18, sees EPS of $14.90-15.50, excluding non-recurring items, vs. $16.02 Capital IQ Consensus Estimate; sees FY18 revs of 15.4-15.9 bln vs. $15.47 bln Capital IQ Consensus.
  • "2018 is a year of continued focus on commercial execution and targeted investment in our manufacturing infrastructure, new product launches, and pipeline to drive future growth. We expect to deliver mid-single digit product sales growth in 2018 after absorbing the anticipated impact of generics. "The mid-term outlook for growth is positive driven by our Immunology franchise, multiple near-term launches, and international markets. We are committed to achieving our projected revenue target of $17 - $18 billion in 2020." "Based on current assumptions, we expect Non GAAP diluted earnings per ADS growth to be lower than top line growth in 2018, mainly due to costs incurred from the start-up of our new U.S. plasma manufacturing site, intensifying genericization, and lower royalties. With the already disclosed manufacturing and SG&A cost reduction initiatives, we are on track to achieve mid-forties Non GAAP EBITDA margin by 2020."

>>> Interpublic beats by $0.04, beats on revs; approves 17% increase in quarterl

Interpublic beats by $0.04, beats on revs; approves 17% increase in quarterly dividend and an additional $300 million toward share repurchase program (22.22)
  • Reports Q4 (Dec) earnings of $0.81 per share, $0.04 better than the Capital IQ Consensus of $0.77; revenues rose 3.4% year/year to $2.34 bln vs the $2.3 bln Capital IQ Consensus.
  • Board approves 17% increase in quarterly dividend and an additional $300 million toward share repurchase program
    • Share Repurchase Program and Common Stock Dividend During the fourth quarter of 2017, the company repurchased 4.2 million shares of its common stock at an aggregate cost of $84.1 million and an average price of $19.85 per share. For the full year 2017, the company repurchased 13.7 million shares of its common stock at an aggregate cost of $300.1 million and an average price of $21.97 per share.
    • Interpublic's Board of Directors authorized a new program to repurchase, from time to time, up to $300 million of the company's common stock. The new share repurchase program, which is in addition to any amounts remaining for repurchase under the program announced in 2017, will take effect immediately and has no expiration date.

>>> Criteo beats by $0.28, beats on revs; guides Q1 revs above consensus; guides

Criteo beats by $0.28, beats on revs; guides Q1 revs above consensus; guides FY18 rev above estiamtes (23.39)
  • Reports Q4 (Dec) earnings of $1.21 per share, excluding non-recurring items, $0.28 better than the Capital IQ Consensus of $0.93; revenues rose 23.1% year/year to $277 mln vs the $262.02 mln Capital IQ Consensus.
  • This increase was primarily driven by continued innovation, improved access to publisher inventory and new clients across regions and products. Revenue ex-TAC margin as a percentage of revenue was 41%, in line with expectations and the prior year. In the Americas, Revenue ex-TAC grew 22%, or 22% at constant currency, to $121 million and represented 44% of total Revenue ex-TAC. In EMEA, Revenue ex-TAC grew 24%, or 16% at constant currency, to $100 million and represented 36% of total Revenue ex-TAC. In Asia-Pacific, Revenue ex-TAC grew 23%, or 25% at constant currency, to $55 million and represented 20% of total Revenue ex-TAC.
  • Co issues upside guidance for Q1, sees Q1 revs of $230-235 mln vs. $204.55 mln Capital IQ Consensus Estimate. Adjusted EBITDA to be between $60 million and $65 million.
  • Fiscal Year 2018 Guidance: We expect Revenue ex-TAC growth for fiscal year 2018 to be between 3% and 8% at constant currency (consensus -3.5% including FX). We expect Adjusted EBITDA margin for fiscal 2018 to between 28% and 30% of Revenue ex-TAC.

>>> TomTom CEO and founder Harold Goddijn not considering delisting

TomTom CEO and founder Harold Goddijn not considering delisting

TomTom( AMS: TOM2) is not considering delisting the company from the Amsterdam Stock Exchange even though such a move would make it easier for the Dutch navigation tools company to transition to a different businessmodel, CEO and founder Harold Goddijn said in an interview with Dutch daily Het Financieele Dagblad.
While admitting it is harder to transition while being listed, Goddijn praised the demand for transparancy that comes with the listing.
The four TomTom founders still own 45% of the company.
TomTom had a revenue of EUR 903m in 2017. Of that revenue 61% came from data, computer programming and services, which is very different from the consumer market the company used to focus on, the report adds.
Link to original source (het Financieele Dagblad)

FT : H&M forecasts tough 2018 as it focuses on online

H&M forecasts tough 2018 as it focuses on online


H&M spelled out its ambitions for revamping its online business ahead of its first ever capital markets day on Wednesday, warning like for like sales were expected to continue to fall through a difficult year but investment in its newer brands and website gave “good opportunities for a somewhat better result” than last year. 

The Swedish group has lagged behind online brands such as Asos and suffered both from saturation and competition on the high street, prompting the pitch to investors. 

H&M said online sales were expected to rise by at least 25 per cent this year and around 20 per cent for each year through to 2022, hitting SKr75bn (€7.6bn) by then under its plans. Sales from the retailer’s new businesses, which include brands such as Cos, & Other Stories and Monki, were forecast to grow by 25 per cent each year, reaching SKr50bn by 2022. 

Online sales accounted for around an eighth of future sales last year, it said, at around SKr29bn, and made up just over a fifth of its operating profit, while new brands represented 7 per cent of sales — but an undisclosed amount of profit (or loss).

“In addition, there are great opportunities for further additional sales from two separate and completely new business models that the company is currently developing”, H&M said, without elaborating on the details of those business plans. 

Physical stores were expected to return to like-for-like sales growth from 2019, it added, with “considerably lower markdowns” compared to last year expected to help gnenerate “good increases in profit”. 

Poor stock management at the end of last year was one of the major issues that had weighed on the group’s start to 2019, H&M said, citing a “tough start with high opening stock levels from Q4 2017 and imbalances in the product range” that led to high markdown costs and hurt earnings at the start of the year.