>>> Hartford Financial beats by $0.03, reports revs in-line

Hartford Financial beats by $0.03, reports revs in-line
  • Reports Q3 (Sep) earnings of $0.60 per share, $0.03 better than the Capital IQ Consensus of $0.57; revenues fell 0.7% year/year to $4.68 bln vs the $4.68 bln two analyst estimate.
  • Current accident year catastrophe losses totaled $352 million, before tax ($0.62, after tax, per diluted share), compared with third quarter 2016 catastrophe losses of $80 million, before tax ($0.13, after tax, per diluted share); the increase in catastrophe losses was the primary driver of the increase in Commercial Lines and Personal Lines combined ratios to 108.6 and 104.0, respectively, from 93.9 and 100.2 in thirdquarter 2016
  • Commercial Lines underlying combined ratio* of 93.2 increased 3.2 points from 90.0 in third quarter 2016 due to a higher expense ratio and increased workers' compensation and general liability loss ratios
  • Agrees to acquire Aetna's U.S. Group life and disability business for $1.45 billion
    • See 6:49 ET post for further details.
  • "The Hartford's third quarter results included a significant amount of property and casualty catastrophe losses, which totaled $229 million, after tax, primarily from hurricanes. Aside from catastrophes, our results remained strong at each segment, meeting or beating our expectations," said The Hartford's Chairman and CEO Christopher Swift. "Investment results also contributed, with excellent returns on limited partnerships, stable portfolio yields and low levels of impairments or credit losses. Reflecting our strong underlying results, for the fifth consecutive year we raised our quarterly common dividend, which will increase by 9% effective with the January 2, 2018 payment."

>>> US Halliburton beats by $0.04, beats on revs

Halliburton beats by $0.04, beats on revs
  • Reports Q3 (Sep) earnings of $0.42 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.38; revenues rose 42.0% year/year to $5.44 bln vs the $5.35 bln Capital IQ Consensus.
  • "The Drilling and Evaluation division revenue increased 4% and operating margins expanded by 260 basis points to approximately 9%, demonstrating solid execution in our international franchise. The Completion and Production division revenue increased by 13% in the third quarter and operating margins improved by 215 basis points, despite the approximately 50 basis point negative impact of hurricane Harvey. This was driven by improved activity and pricing throughout North America land in our pressure pumping, completion tools and cementing product service lines."

>>> US Early premarket gappers

Early premarket gappers
Gapping up:
  • AIMT +47.9%, AGEN +24.7%, XNET +8.7%, ACRX +5%, RPRX +4.6%, PSTI+4.2%, TIG +3.5%, CZR +2%, PLUG +1.9%, TSLA +1.5%, TMUS +1.2%, OSTK+1.2%, STX +0.9%, AMD +0.9%, AU +0.9%, GOGL +0.7%, MU +0.7%, IAG+0.7%, NVDA +0.6%, JD +0.6%, MT +0.6%, SHPG +0.5%
Gapping down:
  • DBVT -44.5%, HMY -3%, RYAAY -2%, LOGI -1.7%, CAFD -1.5%, BIIB -1.3%,RIO -0.7%, NEM -0.7%, AUY -0.7%, ABX -0.5%, KGC -0.5%, GDX -0.5%

>>> Kimberly-Clark beats by $0.06, reports revs in-line; reaffirms FY17 EPS and

Kimberly-Clark beats by $0.06, reports revs in-line; reaffirms FY17 EPS and revenue guidance
  • Reports Q3 (Sep) earnings of $1.60 per share, $0.06 better than the Capital IQ Consensus of $1.54; revenues rose 1.0% year/year to $4.64 bln vs the $4.65 bln Capital IQ Consensus.
    • Organic sales rose slightly, as volumes increased more than 1 percent while net selling prices fell 1 percent.
  • Co reaffirms guidance for FY17, sees EPS of low end $6.20-$6.35 vs. $6.20 Capital IQ Consensus Estimate.
    • Continues to expect that full-year 2017 net sales and organic sales will be similar, or up slightly, year-on-year. FY16 net sales were $18.2 bln vs. the 18.336 bln Capital IQ Consensus Estimate.
  • Chairman and Chief Executive Officer Thomas J. Falk said, "We delivered bottom-line growth in the third quarter in a challenging environment. We also achieved $125 million of cost savings and reduced discretionary spending to help offset inflationary cost headwinds. In addition, we returned more than $500 million to shareholders through dividends and share repurchases. We are confirming our previous full-year 2017 outlook and we continue to execute our Global Business Plan strategies for long-term success."

>>> T-Mobile US beats by $0.16, reports revs in-line; raises subscriber, EBITDA

T-Mobile US beats by $0.16, reports revs in-line; raises subscriber, EBITDA guidance
  • Reports Q3 (Sep) earnings of $0.63 per share, $0.16 better than the Capital IQ Consensus of $0.47; revenues rose 7.7% year/year to $10.02 bln vs the $10.01 bln Capital IQ Consensus. Total service revenues increased 7% year-over-year in Q3 2017 to $7.6 billion which is expected to mark the 14th quarter in a row that T-Mobile has led the industry in year-over-year service revenue percentage growth. The negative impact from hurricanes was $31 million in Q3 2017. Total service revenues increased 7% year-over-year in Q3 2017 to $7.6 billion which is expected to mark the 14th quarter in a row that T-Mobile has led the industry in year-over-year service revenue percentage growth. The negative impact from hurricanes was $31 million in Q3 2017.
  • 1.3 million total net additions — 18 straight quarters of adding more than 1 million 817,000 total branded postpaid net additions — expect to lead industry for the 7th consecutive quarter; 595,000 branded postpaid phone net additions — expect to lead the industry for the 15th consecutive quarter.
  • Raising and narrowing guidance range for branded postpaid net customer additions to 3.3 - 3.6 million from 3.0 - 3.6 million
  • Raising and narrowing Adjusted EBITDA target for the second time this year to $10.8 - $11.0 billion from $10.5 - $10.9 billion, which includes unchanged guidance on leasing revenues of $0.85 - $0.95 billion
  • Maintaining guidance of $4.8 - $5.1 billion of cash purchases of property and equipment, excluding capitalized interest; expect to be at the high end of our guidance range

(RBC) Apple: Forget SuperCycle, Let's Talk "Super Long Cycle"

Apple: Forget SuperCycle, Let's Talk "Super Long Cycle"

RBC notes the supply chain stocks and AAPL (to a lesser extent) have witnessed some pressure recently on news reports that iPhone 8 sales have been soft and there are component supply constraints that could mean that AAPL would have insufficient iPhone X units available in the initial months. Firm thinks the bull case on AAPL is more powerful today vs. 90-days ago as we morph from a "supercycle" (20%+ unit growth) thesis to a "super-long" cycle where units/revs/EPS should growth double digit in FY18 and FY19. Fundamentally, they think AAPL should remain ontrack to achieve >$11 EPS in FY18 and potentially >$12 EPS in FY19 driven by -- Higher ASP's, Higher Gross-margins but lower units (vs. buyside expectations 90-days ago). They think the "super-long" cycle scenario is more attractive as it enables a longer, extended cycle that dampens the general seasonality seen with iPhones as iPhone X drives sales into Mar and Jun quarter. Firm thinks iPhone X will generate solid demand and sales/GM tailwind despite some initial hiccups.

>>> Seagate Tech beats by $0.10, beats on revs

Seagate Tech beats by $0.10, beats on revs
  • Reports Q1 (Sep) earnings of $0.96 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.86; revenues fell 5.9% year/year to $2.63 bln vs the $2.54 bln Capital IQ Consensus.
  • The Board of Directors of the Company has approved a quarterly cash dividend of $0.63 per share, which will be payable on January 3, 2018 to shareholders of record as of the close of business on December 20, 2017.

(CNBC) US reportedly putting nuclear bombers back on high alert

US reportedly putting nuclear bombers back on high alert
News report claims nuclear bases are being upgraded across the United States
A 24-hour response has not been in place for B-52 bombers since the Cold War

B-52 bombers rigged with nuclear weapons are being prepared for 24-hour alert for the first time since the Cold War, a senior U.S. Air Force official has reportedly said.

In a report by security news website Defense One General David Goldfein, Air Force chief of staff, said U.S. military leaders are reacting to new threat levels.