Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- LB -9.2%, RAD -6.2%, LNDC -5.1%, TSLA -3.4%, (Tesla reports Q4 deliveries of 29,870 vehicles -- 15,200 were Model S, 13,120 were Model X, and 1,550 were Model 3), M -3.3%, JCP -2.7%, WBA -0.7%
Other news:
- OVAS -4.8% (OvaScience reports Initial Safety Data from Phase 1 Study of OvaPrime, is reducing headcount by approximately 50%, and appoints James Lillie, Ph.D., as Chief Scientific Officer)
- ARE -4.2% (prices 6 mln share offering at $123.50)
- INSM -3% (announces additional data from ALIS )
- CCCR -2.8% (receives notice from Sorghum Investment that Share Exchange Agreement is being terminated)
- RENN -2.5% (after jumping 50% higher)
- TMHC -2.3% (commences offering of 11 mln shares of Class A common stock and increases previously announced stock repurchase program )
- INTC -2% (following call to discuss reports of new security research findings)
- WBA -1.2% (following RAD earnings/update)
- ATRA -0.8% (prices 7 mln shares of common stock at $18.25 per share)
Analyst comments:
- ROKU -7.3% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- SNAP -3.7% (downgraded to Underperform at Cowen)
- RECN 2% (downgraded to Underweight from Neutral at JP Morgan),
- AVP -1.4% (downgraded to Underperform from Neutral at BofA/Merrill)
- WLH -1.4% (downgraded to Neutral from Buy at Citigroup)
- WDC -1.2% (downgraded to Market Perform from Outperform at BMO Capital)
- SNDR -1.2% (downgraded to Neutral from Buy at Citigroup)
Gapping up
In reaction to strong earnings/guidance/Dec SSS:
In reaction to strong earnings/guidance/Dec SSS:
- ZUMZ +17.1%, DPW +7.1%, RPM +3.5%, BLFS +1.7%, RECN +1.6%, CVS +1.2%, COST +1%
Other news:
- CNET +100.9% (announces strategic partnership with Jingtum Technology), COGT +40% (announce strategic alliance to combine analytics and intelligence with leading blockchain technology), SKLN +35.4% (Skyline Medical reports sale of 5 STREAMWAY Systems in Q4; 6 units have been booked for sale in January 2018), APOP +33.4% (announces breakthrough clinical results), TOPS +26.5% (extended the time charter agreements with Stena Bulk AB; total gross revenue backlog for the fixed charter period of all operating fleet stands at about $131 million), APHB +19.6% (Ampliphi Biosciences announces topline results for the first seven patients treated under its ongoing single-patient expanded access program; 'six patients, 86%, achieving treatment success' ), CCXI +18.7% (announces conditional marketing authorization application for treatment of patients with ANCA-associated vasculitis validated for start of procedure by EMA), CLNT +11.5% (enters into exclusivity agreement with Channel Power for potential acquisition of Touch Media), DCIX +7% (Trend Discovery discloses increased passive stake), DOVA +6% (Dova Pharmaceuticals provides update on development strategy for Avatrombopag in Immune Thrombocytopenic Purpura (ITP) and Chemotherapy-Induced Thrombocytopenia), MNTA +5.7% (Momenta Pharma and Mylan (MYL) announced the development strategy for M710, a proposed biosimilar to EYLEA injection; cos plan to initiate a pivotal clinical trial in patients in 1H18), OMF +5.1% (Apollo Global Management (APO) buying FIG stake, according to Reuters exclusive), ARCT +4.1% (Arcturus Therapeutics and CureVac enter into a broad strategic collaboration), OSTK +3.4% (CEO Byrne and Hernando de Soto enter MOU to form blockchain company focused on property rights), MCRB +3.3% (announces initial results from its Phase 1b study of SER-287), AMD +3.1% (seeing modest bounce in after hours/pre-mkt trade after company claims 'near-zero risk' to its chips), BOLD +1.9% (announces 'positive' interim data from the first dose cohort of ASPIRO in patients with X-Linked Myotubular Myopathy ), REXX +1.8% (after jumping 50% higher), NMFC +1.8% (authorizes an extension of its $50 mln share repurchase program), SAND +1.6% (reported record gold equivalent production in 2017 and the sale of US$18 million of securities of Equinox Gold ), SSW +1.3% (announces letter of intent for potential $250 mln Unsecured 5.50% Debenture and Warrant Investment from Fairfax Financial Holdings Limited), .
Analyst comments:
- DPZ +3.3% (upgraded to Outperform from Neutral at Credit Suisse; upgraded to Outperform from Perform at Oppenheimer)
- WWE +3.3% (upgraded to Outperform from Market Perform at Wells Fargo)
- WIX +2.9% (upgraded to Strong Buy at Raymond James )
- CNHI +2.7% (upgraded to Buy from Hold at Deutsche Bank)
- NUVA +2.4% (upgraded to Buy at Needham)
- HOLX +2.3% (upgraded to Buy from Neutral at BofA/Merrill)
- TEVA +2% (upgraded to Buy from Neutral at Citigroup)
- MRO +1.6% (upgraded to Buy from Neutral at BofA/Merrill)
- SRPT +1.5% (initiated with a Buy at Janney)
- FFIV +0.9% (upgraded to Outperform from Market Perform at BMO Capital)
Walt Disney's ESPN in FY17 averaged 2,058,000 viewers in prime time across TV and streaming, an increase of 7% over 2016
"In the fourth quarter, ESPN grew its audience 13% in prime to 3,052,000 viewers across TV and streaming, the best on cable, as it had accomplished from 1999 -- 2015 before the aberration of last year's political climate pushed ESPN to second place (behind Fox News). Audiences also rose by a double-digit percentage among men and adults 18-34, 18-49 and 25-54. ESPN's total day viewership rose 9%.
Early premarket gappers
Gapping up:
- SKLN +33.3%, APHB +29.5%, TOPS +26.7%, ZUMZ +16.8%, DPW +9.1%, AMPE +7.7%, DCIX +7%, DOVA +6.7%, OSTK +3.7%, AMD +2.9%, RPM +2.3%, OMF +2.1%, MNTA +2.1%, NMFC +1.8%, SRPT +1.7%, BLFS +1.7%, RECN +1.6%, MNK +1.4%, SSW +1.3%, SAND +1%, CVS +1%, QURE +0.7%, COST +0.7%
Gapping down:
- OVAS -10.2%, RAD -5.2%, LNDC -5.1%, RENN -5%, ARE -4.1%, INSM -3%, TMHC -2.9%, TSLA -2.5%, INTC -2.3%, CCCR -2.1%, WBA -1.3%, ATRA -1%, NLY -0.6%
J. C. Penney reports 2017 holiday comps +3.4% YoY; reaffirms FY18 guidance (year ending Jan 2018) (3.70)
"We are also pleased by our e-commerce business that continues to outpace prior year results with double-digit sales growth, largely driven by sought-after gifting categories such as fine jewelry, home decor and luggage, toys, boots and athletic footwear. Our ability to execute e- commerce fulfillment from 100% of our brick and mortar stores helped fuel the growth in e-commerce for the holiday season."
FY18 guidance reaffirmed (guided on Oct 27): Comparable store sales: expected to be -1.0 % to 0.0 %. Cost of goods sold: expected to be up 100 to 120 basis points versus 2016.
Bosch said they will continue to work with Tom Tom ...not as -ve that thge market is playing it for now
FT : Bosch and Continental acquire stake in digital maps service Here
German tech group and parts supplier to push ahead in development of autonomous cars
Bosch and Continental have each acquired a 5 per cent stake in the digital maps service Here, solidifying an effort from Germany’s top carmakers to build a lead in self-driving car technology without relying on Silicon Valley.
The German groups separately announced the moves on Thursday, saying Here would pave the way for technologies that facilitate the reliable availability of highly accurate data to improve systems and traffic management.
Technology group Bosch also aims to turn the company from a producer of maps for cars into a broader offering in the so-called Fourth Industrial Revolution.
It envisions creating indoor navigation maps for automating and streamlining goods “all the way to the production line”.
Car parts supplier Continental said the initiative would support the needs of the car and mobility industries across all major markets.
Here, whose high-definition, three-dimensional maps are already being used as an open platform to propel the development of self-driving cars, was purchased from Nokia in 2015 for €2.8bn by Audi, BMW and Daimler.
“Bosch is more than cars,” said Volkmar Denner, Bosch chief executive. “Industry 4.0, smart homes, and smart cities are rapidly growing areas of business for us, in which establishing and expanding data-based services will result in synergies with Here.”
Elmar Degenhart, chief executive of Continental, said: “Digital maps and location-based services are key innovations for the future of connected mobility.”
Edzard Overbeek, chief executive of Here, added that Bosch’s presence “across the Americas, Asia and Europe” would help Here to “further grow our business globally”.
Bosch, a private German company, is the world’s largest automotive supplier but is also a tech services and manufacturing company involved with sensors, software and artificial intelligence.
Revenue in 2016 was €73.1bn and it hosts its own “Internet of Things” cloud service for connecting products.
Continental is best known for making tyres but also develops technologies and services for the world’s biggest car groups. Its 2016 revenue was €40.5bn.
Bosch has been working with a variety of mapping rivals in recent years and was rumoured to be considering a stake in Here in early 2016.
It said on Thursday that it would continue working on “road signature” software, which aims to help self-driving cars navigate and understand traffic signs, with Dutch mapmaker TomTom, Japanese mapmaker Increment P, and three Chinese mapmakers: AutoNavi, Baidu and NavInfo.
In the past year, Here’s partnerships have expanded as the race to build self-driving cars and related platforms has accelerated against groups such as Waymo, the autonomous technology subsidiary of Google parent Alphabet.
Intel, the US chipmaker, purchased a 15 per cent stake in Here a year ago and pledged to enable the mapping service to identify a vehicle’s location “within centimetres”.
In September, Japanese electronics group Pioneer — parent of Increment P — partnered with Here and acquired a 1 per cent stake. The groups said the deal would “support innovations in the areas of in-vehicle infotainment and autonomous driving”.
Both stakes require antitrust approval.
HERE 10% stake to be acquired by Continental and Bosch
Continental AG [CON:ETR], the German automotive manufacturing company, and Robert Bosch GmbH, a German engineering and electronics company, have announced separately that they are acquiring a 5% stake each in HERE, a provider of digital maps and location-based services based in Netherlands.
The share will be sold by HERE's current indirect shareholders, AUDI AG [FWB:NSU], BMW Group [BMW:ETR] and Daimler AG [DAI:ETR].
The German automotive consortium bought HERE from Nokia [NOKIA:HEL] in 2015 in a EUR 2.5bn (USD 2.6bn) deal.
Continental announcement:
The share will be sold by HERE's current indirect shareholders, AUDI AG [FWB:NSU], BMW Group [BMW:ETR] and Daimler AG [DAI:ETR].
The German automotive consortium bought HERE from Nokia [NOKIA:HEL] in 2015 in a EUR 2.5bn (USD 2.6bn) deal.
Continental announcement:
Technology company Continental has signed a definitive agreement to acquire a 5 percent indirect ownership stake in HERE Technologies, a global leader in mapping and location services. The share will be sold by HERE's current indirect shareholders, AUDI AG, BMW Group and Daimler AG. The involved parties have agreed not to disclose any financial details. The transaction is subject to merger control approval.
In addition to the investment, Continental will sign a collaboration agreement with HERE. The aim is to pave the way for technologies that facilitate the reliable availability of highly accurate data for the efficient transportation of people and their goods. The companies are focused on global solutions to support the needs of the automotive and mobility industries across all major markets.
"Digital maps and location-based services are key innovations for the future of connected mobility. By leveraging HERE's technology, we look forward to generating further profitable growth in mobility services and automated driving," said Dr. Elmar Degenhart, Continental CEO.
Edzard Overbeek, CEO of HERE Technologies, said: "Our vision for HERE is to enable an autonomous world for everyone. To achieve this you need strong partners that complement each other in different areas. Therefore, we are excited to welcome Continental as both a strategic investor and strong partner with whom we can work together on the future of mobility and transportation."
Collaboration focus: Systems for dynamically maintaining and updating HD maps
Continental and HERE have already proven their expertise in joint development projects. This new collaboration will leverage the complementary technologies of both companies. This includes Continental's experience from its Intelligent Transportation Systems (ITS) business unit in mobility services and in service operations, the know-how of the Continental affiliate Elektrobit in software, cyber security and embedded systems capabilities as well as HERE's expertise in high-resolution digital mapping, software and cloud services.
In doing so, Continental and HERE will go beyond their pre-existing business relationships in hardware, software, data and services. Together they intend to build systems that make use of HERE HD Live Map, the map for automated vehicles, and the cloud connectivity that comes with it for new applications and refinements in vehicle automation and mobility services. They will, for example, explore the creation of more precise electronic horizons (eHorizon) in advanced driver assistance systems, providing vehicles and their drivers with a highly accurate and fresh view of the road ahead. They will also explore how the positioning of a vehicle on the road can be improved and how the information needed for it can be maintained and updated dynamically.
Link to original source.
Link to original source.
Bosch announcement:
Bosch is acquiring 5 percent in HERE Technologies, a global provider of digital mapping and location services. The parties have agreed not to disclose the purchase price. The acquisition gives a boost to Bosch’s services business. It also helps HERE take a further step toward its goal of becoming a global provider of data-based real-time location services to customers both inside and outside the automotive industry. “Bosch is more than cars,” says Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH. “Industry 4.0, smart homes, and smart cities are rapidly growing areas of business for us, in which establishing and expanding data-based services will result in synergies with HERE.” Edzard Overbeek, the CEO of HERE Technologies, adds: “We are delighted to have brought on board a strong partner like Bosch, with its broad-based expertise in both the automotive and Internet of Things sectors. Bosch’s strong presence across the Americas, Asia and Europe also offers HERE attractive opportunities to further grow our business globally.” The acquisition is still subject to approval by the antitrust authorities. It is expected to be concluded by the end of the first quarter of 2018.
Link to original source.
Link to original source.
Volkswagen is partnering the Silicon Valley company headed by Google’s former self-driving chief Chris Urmson on autonomous car research, underscoring how traditional carmakers are looking to the technology industry to help them adapt to a self-driving future.
Volkswagen is preparing to launch self-driving taxi fleets in multiple cities in 2021 and plans to launch dozens of autonomous test vehicles on the road this year in conjunction with Aurora. By 2020, it hopes to have thousands of vehicles being tested in 2020, according to chief digital officer Johann Jungwirth.
The carmaker plans to spend more than €34bn on self-driving and electric vehicle research over the next five years, but did not disclose any financial details of the Aurora deal.
The deal will focus on developing a fleet of self-driving Volkswagen vehicles that can be summoned on-demand and provide a transportation service which the company hopes will eventually be offered all over the world.
By partnering with Aurora, the German company has thrown its hat in with one of Silicon Valley’s most-high profile and secretive groups led by a pioneer of self-driving research.
Mr Urmson, who left Alphabet in 2016, co-founded Aurora last year along with Tesla’s former autopilot chief Sterling Anderson, and robotics professor Drew Bagnell, previously a founder of Uber’s self-driving car unit.
Along with the Volkswagen deal, Aurora also announced a partnership on Thursday with
Hyundai. The South Korean automaker is set to debut a new hydrogen fuel cell vehicle next week that it believes will be well suited for autonomous driving down the road.
To acquire 5% stake in HERE; Terms undisclosed signed a definitive agreement to acquire a 5 percent indirect ownership stake in HERE Technologies, a global leader in mapping and location services. The share will be sold by HERE's current indirect shareholders, AUDI AG, BMW Group and Daimler AG. The involved parties have agreed not to disclose any financial details. The transaction is subject to merger control approval. In addition to the investment, Continental will sign a collaboration agreement with HERE. The aim is to pave the way for technologies that facilitate the reliable availability of highly accurate data for the efficient transportation of people and their goods. The companies are focused on global solutions to support the needs of the automotive and mobility industries across all major markets.