>>> Hain Celestial misses by $0.01, reports revs in-line --> -4.3% pre open

Hain Celestial misses by $0.01, reports revs in-line; guides FY18 in-line; explores divestiture of Hain Pure Protein (36.36)
  • Reports Q2 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.42; revenues rose 4.8% year/year to $775.2 mln vs the $774.5 mln Capital IQ Consensus, or 2% on a constant currency basis, primarily reflecting mid-single digit net sales increases from United Kingdom, Canada and Europe and Hain Pure Protein operating segments, partially offset by a low single digit decrease from the United States segment. Net sales for Hain Celestial United States decreased 3% over the prior year period to $270.3 million. Net sales for Hain Celestial United Kingdom increased 12% to $238.2 million.
  • Co issues in-line guidance for FY18, sees EPS of $1.64-1.75 including $0.08-0.09 benefit from tax reform, from $1.63-1.80, excluding non-recurring items, vs. $1.66 Capital IQ Consensus; reaffirms FY18 revs of $2.967-3.036 bln vs. $2.99 bln Capital IQ Consensus Estimate.
  • Co announced it is exploring the divestiture of its Hain Pure Protein. Net sales for Hain Pure Protein increased 4% to $159.0 million over the prior year period. business.

>>> Early premarket gappers

Early premarket gappers
Gapping up:
  • TVIX +28.6%, NQ +21.4%, SNAP +20.9%, PERY +12%, ACLS +10.9%, GNW +10.9%, GAIN+10.6%, DPW +9%, VIIX +8.5%, NANO +8.2%, KORS +7.9%, SCSC +7.4%, MODN +7.3%,AKAM +7.2%, REXX +6.8%, RIOT +6.6%, WYNN +4.8%, ZEN +4.7%, REI +3.5%, PXD +3.5%,CG +3.5%, ULTI +3.2%, AI +2.9%, USNA +2.5%, TWTR +2.4%, KALA +2.4%, NEWR +2.4%,CVCO +2.4%, MTCH +2.2%, JRVR +2.1%, BLL +2%, STO +1.9%, TWO +1.7%, EVTC +1.6%,DIS +1.6%, JEC +1.3%, MNTX +1.2%, CHK +1%, CDW +0.9%, CERN +0.8%
Gapping down:
  • XIV -18.8%, BBOX -15.6%, MTSI -11.4%, MANH -10.8%, CMG -9.1%, PAGP -8%, TCS-7.4%, HK -6.7%, MX -6.2%, JKS -5.7%, OLN -5.7%, HAS -5.2%, MCHP -5.1%, JCOM -5%,SMPL -4.6%, NTGR -3.6%, SNY -3.2%, HCSG -3%, PAA -2.6%, PFPT -2.4%, EXTR -2.3%,GILD -2%, EXC -1.8%, TRGP -1.4%, ACXM -1.4%, PRO -1.4%, TKR -1.4%, AVXL -1.1%,PDCE -1%, RIG -1%

>>> Biogen reports top-line results from phase 2b study of Natalizumab --> -1%

Biogen reports top-line results from phase 2b study of Natalizumab (332.86)
  • The primary and secondary efficacy endpoints were not met in the ACTION 2 study
  • Further development of natalizumab in acute ischemic stroke will not be pursued
  • Biogen remains committed to advancing treatments for stroke and other acute neurological conditions
  • In the middle of 2018, Biogen plans to initiate a global Phase 3 study of BIIB093 in individuals with large hemispheric infarction, where brain swelling (cerebral edema) often leads to high morbidity and mortality.
  • Detailed Phase 2b ACTION 2 study findings will be made available in a future scientific forum.

>>> Michael Kors beats by $0.48, beats on revs; guides Q4 ~in-line --> +7% pre o

>>> Michael Kors beats by $0.48, beats on revs; guides Q4 ~in-line --> +7% pre o
  • Reports Q3 (Dec) earnings of $1.77 per share, excluding non-recurring items, $0.48 better than the Capital IQ Consensus of $1.29; revenues rose 6.4% year/year to $1.44 bln vs the $1.38 bln Capital IQ Consensus. On a constant currency basis, total revenue increased 4.6%.
  • Results exceeded guidance, with better than expected performance from both the Michael Kors and Jimmy Choo brands. MK Retail revenue increased 1.1% to $846.3 million driven in large part by 32 net new store openings since the end of the third quarter of fiscal 2017. Comparable sales decreased 3.2% vs. high single digit decline guidance, with better than anticipated performance in the Americas and Europe during the Holiday season. On a constant currency basis, retail net sales decreased 1.0%, and comparable sales decreased 5.2%. MK Wholesale revenue decreased 8.9% to $430.8 million and on a constant currency basis decreased 10.5%, driven by a strategic reduction in inventory levels in the channel. MK Licensing revenue increased 12.3% to $48.3 million. Gross profit increased 9.7% to $884.0 million, and as a percentage of total revenue was 61.4%. Adjusted gross profit increased 9.9% to $885.6 million, and as a percentage of total revenue was 61.5%. This compares to 59.6% in the third quarter of fiscal 2017.
  • Co issues in-line guidance for Q4, sees EPS of $0.57-0.62, excluding non-recurring items, vs. $0.59 Capital IQ Consensus Estimate; sees Q4 revs of $1.11-1.13 bln vs. $1.14 bln Capital IQ Consensus, including between $110 million and $115 million of incremental Jimmy Choo revenue. Comparable sales for Michael Kors are expected to decline in the low-single digits. The Company expects operating margin to be ~10.0%. Diluted earnings per share are expected to be in the range of $0.50 to $0.55, including the dilution from Jimmy Choo of approximately $0.07. This assumes approximately 155 million weighted average diluted shares outstanding and a tax rate of ~21.0%.including a $114.7 million contribution from Jimmy Choo, which the Company owned for two months of the quarter

>>> Anadarko Petroleum increases quarterly dividend to $0.25/share from $0.20/sh

Anadarko Petroleum increases quarterly dividend to $0.25/share from $0.20/share; authorizes a $500-mln increase to previously announced $2.5 mln share-repurchase program, bringing the total repurchase program to $3.0 bln (57.49)
"These actions to materially increase the dividend payout and expand our share-repurchase program continue to demonstrate our focus on enhancing shareholder value," said Al Walker, Anadarko Chairman, President and CEO. "In light of our commitment to capital efficiency demonstrated by investing within cash flow in a $50 oil and $3 natural gas environment, our substantial cash flow from the Western Gas franchise, and ample liquidity, we have the confidence to quintuple our dividend and increase our share-repurchase plan by $500 million to a total current program of $3 billion. As market conditions permit, we will continue to pursue opportunities to repurchase additional shares and improve our dividend. Beyond these actions to increase direct cash returns to shareholders, we are committed to debt reduction, as demonstrated by our intent to retire at par more than $1 billion of near-term maturities, while looking for economic opportunities to pursue additional liability-management activity for future maturities."

>>> Carlyle Group beats by $0.43

Carlyle Group beats by $0.43 (24.35)
  • Reports Q4 (Dec) earnings of $1.01 per share, excluding non-recurring items, $0.43 better than the Capital IQ Consensus of $0.58.
  • Distributable Earnings of $156 million on a pre-tax basis for Q4 2017 and $670 million in 2017; Distributable Earnings per common unit of $0.44 in Q4 2017 and $1.88 in 2017, on a post-tax basis

>>> Hasbro beats by $0.49, misses on revs

Hasbro beats by $0.49, misses on revs (93.93)
  • Reports Q4 (Dec) earnings of $2.30 per share, excluding non-recurring items, $0.49 better than the Capital IQ Consensus of $1.81; revenues fell 1.8% year/year to $1.6 bln vs the $1.72 bln Capital IQ Consensus. Operating profit margin of 17.0%.
  • In December 2017, the U.S. enacted the Tax Cuts and Jobs Act that provided significant changes to the U.S. tax code, including a one-time repatriation tax payable over eight years. As a result of the Act, the Company recognized a net charge of $296.5 million. Given the significant complexities associated with the changes in the U.S. tax code, the estimated financial impact for the fourth-quarter and full year 2017 are provisional and subject to further analysis which could result in changes to this estimate during 2018 as further guidance is issued.
  • Hasbro's Board of Directors has declared a quarterly cash dividend of $0.63 per common share. This represents an increase of $0.06 per share, or 11%, from the previous quarterly dividend of $0.57 per common share

WSJ :Goldman Sachs in Talks With Apple to Finance iPhone Sales

Goldman Sachs in Talks With Apple to Finance iPhone Sales
Wall Street firm would lend to shoppers buying expensive Apple gadgets

As Apple Inc.’s AAPL 4.18% investment bank, Goldman Sachs GS 3.85% Group Inc. has raised tens of billions of dollars for the technology company. Now, Goldman wants to bank Apple’s customers, too—with a ticket size of a few hundred dollars at a time.

The Wall Street firm is in talks to offer financing to shoppers buying phones, watches and other gadgets from Apple, people familiar with the matter said. Customers purchasing a $1,000 iPhone X could take out a loan from Goldman instead of charging it to credit cards that often carry high interest rates.

Talks between the tech giant and the investment bank are continuing and could still fall apart. A spokesman for Goldman declined to comment. Apple didn’t respond to requests for comment.

The partnership would be a coup for Goldman as it tries to grow its new consumer bank. Better known as an elite adviser to corporations and governments, Goldman is embracing retail banking and plain-vanilla lending in pursuit of growth as some traditional areas of strengths, namely trading, slump.

In 2016 Goldman launched Marcus, an online lender that helps people refinance credit-card debt. The firm is now building a “point-of-sale” financing business that will offer loans to shoppers at checkout, according to people familiar with the firm—effectively finding those customers one step earlier.

Shoppers in 2017 borrowed more than $200 billion for purchases using credit cards affiliated with retailers or point-of-sale loans, consulting firm First Annapolis estimates. Some $80 billion went toward big-ticket items like furniture and electronics that can take months to pay off, racking up extra interest as borrowers roll over balances from month to month.

By offering a lower-cost loan, Goldman hopes to siphon off some of that business. Goldman charges 12% interest on its average Marcus loans. Credit cards can charge upward of 20% and carry late fees and other charges.

Partnerships with big retailers like Apple are key. They can deliver millions of customers that Goldman would struggle to find on its own.

The bank in October hired Scott Young from Citigroup Inc., where he ran retail credit-card partnerships and helped snag the Costco Wholesale Corp. relationship away from American Express Co. He is tasked with striking similar deals for Goldman, which aims to finance purchases ranging from vacations to home furnishings to orthodontics.

The bank will start by offering loans similar to its existing Marcus product, but is exploring adding traditional store-brand credit cards down the road, the people familiar with the matter said.


Apple introduced a program in 2015 with Citizens Financial Group Inc., in which the regional bank offered zero-interest loans for iPhone upgrades and higher-interest options for other device purchases. Part of Goldman’s talks with Apple involves taking over some form of the upgrade program. It is unclear whether anything will change with the handling of the outstanding Citizens loans. The Providence, R.I.-based bank didn’t have an immediate comment.

The program started as wireless providers were scaling back subsidies for iPhones. It allows customers to pay for a new iPhone with a 24-month financing plan and upgrade to a new device after making 12 payments, a strategy that helps keep customers coming back for the newest models.

For Apple, the upgrade program is taking on increasing importance as its high-priced devices create sticker shock for some. Facing questions about the affordability of the new $1,000 iPhone, Chief Executive Tim Cook said it works out to $33 a month. “That’s a few coffees a week,” he told analysts during an earnings call in November.

Goldman’s entry into point-of-sale lending will pit it against financial-technology startups including Affirm Inc., which extends loans to online shoppers, and GreenSky LLC, which finances home-improvement projects and elective medical procedures. Each firm raised about $200 million in recent weeks to expand into new sectors.

(ZH) XIV Trader Loses $4 Million And 3 Years Of Work Overnight: Here Is His Stor

XIV Trader Loses $4 Million And 3 Years Of Work Overnight: Here Is His Story


The devastating 90% overnight collapse in the now "terminated" XIV Exchange Traded Note (ETN) has had many casualties - from one hedge fund down as much as 65%, to Morgan Stanley's (formerly) $39 million position, to Reddit user /u/Lilkanna who posted "Ive lost 4million USD, 3 years worth of work, and other people's money" in the "TradeXIV" subreddit.
"1.5 mill was capital I raised from investors who believed in me," Lilkanna wrote. "I had a leveraged position I used DTBP to buy and it was down like 1% and I thought I could hold it knowing that I would get a reg-t call deadline in 2 days."

As confirmation of his woes, Lilkanna posted a screenshot of his depleted account:
Close up:
“The amount of money I was making was ludicrous, could take out my folks and even extended family to nice dinners and stuff,” he wrote. “Was planning to get a nice apartment and car or take my parents on a holiday, but now that’s all gone.”
"Sad thing is I was long VIX until a couple of days ago. I was sure there was gonna be a correction but with each passing day my conviction wavered. Stupid. Really fu**ing stupid. I feel like such a fool."
While some Redditors were supportive - emoting empathy, “Hey man, I know others have said it but I’m here for you man,” one user wrote. “It may seem like the end of the world but tomorrow is a new day.”
Another Redditor said “Jesus dude, if you were able to turn 36k into 2.5 million (even with raised capital), you can make back all the lost money and then some,” he said. “You just have to learn from the lessons and give it time, you will make it back in no time. It sounds cliche as f**k but you know its true.”
User /u/asianhere commiserated with Lilkanna, writing "I feel you as I've lost 1/2 of my net worth today T_T prob 5 years on my life"
For what it's worth, Lilkanna is able to take responsibility for his epic fail:
I guess you never expect it until it hits you. You always hear stories about how people get cancer and how people get randomly killed in the street or about how they lose all their money, but sometimes you find it hard to believe that it will happen to you.
I started with 50k and traded all the way to 4 mill over 2.5 years, started using more and more margin, started taking it less less seriously, what could go wrong? Arrogance. Stupidity.
Ah well. Thanks for the kind words though. They are more comforting than you realise.

Credit Suisse, XIV's issuer, announced this morning that February 20 will be the last day of trading before termination.