REuters - Renault-Nissan electric car sales hit 400,000, CEO says in Davos

Renault-Nissan electric car sales hit 400,000, CEO says in Davos

Renault-Nissan has sold more than 400,000 electric cars globally and the leader in plug-in vehicles is planning further investment to maintain its market lead, the chief executive of the auto alliance said on Wednesday.

Carlos Ghosn disclosed the sales figure during an interview with Reuters on the sidelines of the World Economic Forum in Davos.

"We are going to increase investment, we are going to have lot of new cars coming, better batteries, better performance, lower prices," Ghosn said.

(TechCrunch) Boom shows off its XB-1 supersonic demonstration passenger airliner

if you’re old enough to remember the Concorde, then startup Boom‘s plans to bring supersonic flight back to commercial passenger air travel is huge. Now Boom is one step closer, as it reveals the XB-1 Supersonic Demonstrator, a 1/3-scale prototype of its Boom supersonic passenger aircraft, which will be doing its first supersonic test flights later this year.
The scale demonstration craft is meant to be “technically representative” of what the final airliner will offer, and includes GE engines, Honeywell avionics and Tencate structural carbon fiber elements. Partner Virgin Galactic is going to be helping Boom build its first production aircraft, offering engineering and manufacturing as well as testing and operations support. Virgin also has optioned Boom’s first 10 vehicles, so it’s also the startup’s first customer.
Testing of the XB-1 will begin with subsonic flights at a location east of Denver in Colorado, and then supersonic tests will run near Edwards Air Force Base in Southern California. Test flights for cutting-edge aircraft, including the F-35, are conducted regularly at the Edwards facility.
Boom has ex-NASA, ex-Lockheed and ex-Boeing aircraft engineers on its team, along with funding from Lightbank, Y Combinator and Sam Altman, Paul Graham and Kyle Voght of Cruise. Their aim is not only to bring back commercial supersonic passenger flight, but also to make it affordable enough that it’s a viable option for regular passengers and routes.
Boom supersonic plane in flight. (PRNewsFoto/Boom Technology, Inc.)
The Concorde, a supersonic jet debuted in 1969, flew for 27 years from 1976 through 2003, achieving travel times that were half what’s possible with conventional jets. It was retired after a disastrous crash of one of its planes in 2000, which led to low ticket sales exacerbated by a downturn in air travel in general following 9/11.

Richard Branson wanted to purchase a Concorde fleet from British Airways, and tried a number of increasing bids to do so, but was ultimately rejected. That helps explain Virgin Galactic’s enthusiastic support of Boom, both in testing and as its initial customer.
As for specs, the XB-1 craft is the first supersonic jet that can claim a totally independent and private development process, and it’s also going to be the fastest civilian aircraft in operation if it meets its targets, with a 1,451 mph cruising speed that tops the Concorde’s max by 10 percent. Boom also claims a better interior experience, with just one seat per side of the aisle and a smoother ride due to the higher, 60,000-foot cruising altitude.
Boom’s XB-1 Supersonic Demonstrator will target the same max speed as the eventual full-size passenger airliner, but will only carry a pilot and an optional test engineer or other passenger, while the final vehicle will have a passenger capacity of 45 in addition to the crew and 4 flight attendants, with an optional high-density configuration that would allow an additional 10 passengers on board.



>>> Mediaset: PS Berlusconi, no offer by Vivendi, if we evaluate arrives

Mediaset: PS Berlusconi, no offer by Vivendi, if we evaluate arrives
With ProSiebenSat frequent contacts but not of ownership

(Il Sole 24 Ore Thomson Plus) - Milan, 18 Dec - Mediaset has not received any offer by Vivendi but if you were to get a proposal that will create will assess' value. It 'as said Pier Silvio Berlusconi, chief executive of Mediaset, responding to a question as reported by some of those present. About possible alliances with Germany's ProSiebenSat in anti-Vivendi function, Berlusconi - according to the reconstructions of those present - he said to comply with the German group and that contacts with ProSiebenSat are frequent for possible joint initiatives while hinting that there would be no pero 'relevant projects from the point of view of the owner. Mediaset few days ago announced an alliance with ProSiebenSat entered in his Studio77 content platform. On possible sale scenarios of Mediaset Premium pay-TV Sky, the managing director of Mediaset replied that he had had contact with the Sky Premium dossier since the agreements with Vivendi which provided for the sale of pay-TV were signed to French

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • PSO -28.5%, GIMO -22.2%, CCJ -10.3%, (expects adjusted net earnings for 2016 will be significantly lower than analysts' earnings estimates; announces workforce reductions)
  • TGT -3.9%, NTRS -3.3%, CSX -2.9%, IBKR -2.8%, AMTD -0.8%, C -0.5%
M&A news:
  • BCEI -4.3% (pulling back following y'day's move; confirms receipt of unsolicited inquiry from Bill Barrett Corporation (BBG) regarding a potential transaction between the two companies),
Select financial related names showing weakness:
  • CS -1.9%, BCS -1.7%, RBS -1.6%, ING -1.3%
Other news:
  • AFAM -5.8% (proposed underwritten public offering of 2,500,000 shares of its common stock)
  • NBIX -4.2% ( announces the top-line results from the Company's Phase II T-Forward study of INGREZZA)
  • TRCH -3.9% (files for 6.15 mln share common stock offering by selling shareholders)
  • TDOC -3.2% (announced a proposed offering of shares of its common stock, which includes 5,400,000 shares offered by Teladoc and 1,850,000 shares offered by certain stockholders)
  • KOPN -2.4% (modestly pulling back from new multi-year high made today; discloses was unable to complete its investigation and has submitted a plan to regain compliance with Nasdaq)
  • TTPH -1.9% (entered into a Controlled Equity Offering sales agreement with Cantor to sell up to $40 mln in common stock)
  • NSC -1.9% (in sympathy with CSX)
  • WMT -1.2% (in sympathy with WMT)
Analyst comments:
  • HIMX -3.8% (downgraded to Neutral from Outperform at Credit Suisse)
  • KSS -2.1% (downgraded to Underperform from Neutral at Credit Suisse)
  • JCP -1.6% (downgraded to Underperform from Neutral at Credit Suisse)
  • DIS -0.9% (downgraded to Underperform from Market Perform at BMO Capital)
  • XLNX -0.9% (downgraded to Underweight from Equal Weight at Barclays)
  • MCD -0.6% (Nomura out cutting Q4 and Q1 US comps ests)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • NXTD +21.7%, SHLO +14%, ASML +4.9%, MHG +3.6%, FAST +0.9%
M&A news:
  • CLCD +32.7% (to be acquired by Eli Lilly (LLY) for $46.50/share)
Other news:
  • APRI +22.5% (announces that Mexico has granted the co's commercialization partner, Ferring Pharmaceuticals, market approval for Vitaros)
  • CRNT +9.7% (announces over $60 mln in new orders so far in 2017)
  • LIFE +8.2% (FDA grants Fast Track Designation for aTyr's Resolaris to treat limb girdle muscular dystrophy 2b and removes partial clinical hold for resolaris)
  • JAZZ +7.3% (FDA approves first generic version of Xyrem (sodium oxybate) Oral Solution, to treat cataplexy and excessive daytime sleepiness in patients with narcolepsy, which is a potentially debilitating disease)
  • GPOR +2.8% (reports Q4 net production averaged 787.0 MMcfe per day, +22% Y/Y)
  • NTNX +1.5% (following Hewlett Packard Enterprise's purchase of hyperconverged infrastructure peer SimpliVity for $650 mln in cash)
  • QCOM +1% (says will 'vigorously contest' FTC complaint)
Analyst comments:
  • EDU +3.8% (upgraded to Overweight from Neutral at JP Morgan)
  • DECK +2.5% (upgraded to Buy from Neutral at Buckingham Research)
  • JWN +1.6% (upgraded to Outperform from Neutral at Credit Suisse)

>>> Citigroup beats by $0.02, misses on revs (58.38)

--> C -0.82% in Pre Open 336k shares traded
Citigroup beats by $0.02, misses on revs
  • Reports Q4 (Dec) earnings of $1.14 per share, $0.02 better than the Capital IQ Consensus of $1.12; revenues fell 8% year/year to $17.01 bln vs the $17.26 bln Capital IQ Consensus.
    • Last quarter the bank is breaking out CitiHolding results.
  • Citigroup
    • Revenues of $17.0 billion in the fourth quarter 2016 decreased 9%, driven by the absence of net gains on asset sales in Citi Holdings, partially offset by a 6% increase in Citicorp revenues. Citigroup's net income increased to $3.6 billion in the fourth quarter 2016, primarily driven by the lower operating expenses and cost of credit, partially offset by lower revenues.
    • Citigroup's allowance for loan losses was $12.1 billion at quarter end, or 1.94% of total loans, compared to $12.6 billion, or 2.06% of total loans, at the end of the prior year period.
    • In constant dollars, 6% growth in Citicorp loans was partially offset by continued declines in Citi Holdings, driven primarily by continued reductions in the North America mortgage portfolio.
    • Citigroup's book value per share was $74.26 and tangible book value per share was $64.57, each as of year end 2016 and representing 7% increases over the prior year period.
  • Citicorp
    • Revenues of $16.4 billion increased 6%, driven by an 11% increase in ICG revenues and a 2% increase in GCB. Citicorp net income increased to $3.5 billion, from $2.8 billion in the prior year period, primarily driven by the higher revenues as well as lower operating expenses and lower cost of credit. Citicorp operating expenses decreased 2% to $9.5 billion, as investment spending was more than offset by efficiency savings, lower repositioning costs and a benefit from the impact of foreign exchange translation.
  • Global Consumer Banking
    • GCB revenues of $8.0 billion increased 2% due to a 5% increase in North America GCB revenues. Operating expenses were largely flat at $4.4 billion, and increased 3% in constant dollars, driven by the addition of the Costco portfolio, volume growth and continued investments, partially offset by ongoing efficiency savings.
  • Institutional Clients Group.
    • ICG revenues of $8.3 billion increased 11%, driven by broad momentum across the franchise including a 24% increase in Markets and Securities Services revenues.
    • Banking revenues of $4.3 billion increased 1%. Advisory revenues decreased 2% to $296 million, debt underwriting revenues increased 4% to $648 million, and equity underwriting fell 8% to $190 million, reflecting lower industry-wide underwriting activity during the current quarter.
    • Fixed Income Markets revenues of $3.0 billion in the fourth quarter 2016 increased 36%, reflecting increased client activity and improved trading conditions in spread products and rates and currencies.
    • Equity Markets revenues of $694 million increased 15%, driven by improved performance, particularly in derivatives.
    • ICG cost of credit included net credit losses of $119 million ($96 million in the prior year period) and a net loan loss reserve release of $15 million (net loan loss reserve build of $554 million in the prior year period).