>>> EMC/VMW spoke to EMC IR

EMC/VMW  Spoke to EMC IR – waiting on new proposed guidelines to be finalized by SEC and NYSE before application to list will be completed – working diligently with both parties to get listing done as soon as possible after guidelines are done.  (note:  SEC extended comment deadline yesterday 6/6/16 to 7/26/16  https://www.sec.gov/rules/sro/nyse/2016/34-77996.pdf)  Doing everything we can to move the process forward.   EMC IR says closing is in keeping with original timing guidance of June to October.

 

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This information represents neither an offer to buy or sell any security nor, because it does not take into account the differing needs of individual clients, investment advice.  Those seeking investment advice specific to their financial profiles and goals should contact their Oscar Gruss & Son Incorporated sales representative.  Oscar Gruss & Son Incorporated believes this information to be reliable, but no representation is made as to accuracy or completeness.  This information does not analyze every material fact concerning a company, industry, or security.  Oscar Gruss & Son Incorporated assumes that this information will be read in conjunction with other publicly available data.  Matters discussed here are subject to change without notice.  There can be no assurance that reliance on the information contained here will produce profitable results.  A security denominated in a foreign currency is subject to fluctuations in currency exchange rates, which may have an adverse effect on the value of the security upon the conversion into local currency of dividends, interest, or sales proceeds.  The value of securities and depositary receipts of foreign issuers that are denominated in United States dollars are also influenced by fluctuations in currency exchange rates.

© 2016 Oscar Gruss & Son Incorporated.  All rights reserved.

 

 

DISCLAIMER This information represents neither an offer to buy or sell any security nor, because it does not take into account the differing needs of individual clients, investment advice. Those seeking investment advice specific to their financial profiles and goals should contact their Oscar Gruss & Son Incorporated sales representative. Oscar Gruss & Son Incorporated believes this information to be reliable, but no representation is made as to accuracy or completeness. This information does not analyze every material fact concerning a company, industry, or security. Oscar Gruss & Son Incorporated assumes that this information will be read in conjunction with other publicly available data. Matters discussed here are subject to change without notice. There can be no assurance that reliance on the information contained here will produce profitable results. A security denominated in a foreign currency is subject to fluctuations in currency exchange rates, which may have an adverse effect on the value of the security upon the conversion into local currency of dividends, interest, or sales proceeds. The value of securities and depositary receipts of foreign issuers that are denominated in United States dollars are also influenced by fluctuations in currency exchange rates. © 2016 Oscar Gruss & Son Incorporated. All rights reserved.

>>> Thyssengas binding bids in; sale could see conclusion within days

Thyssengas binding bids in; sale could see conclusion within days
Macquarie [ASX:MQG] received binding bids today, 7 June, for its Thyssengas, which is valued at circa EUR 500m, according to two sources familiar with the situation.

First State submitted a binding bid, said a source close to the company and the first source familiar, as did a consortium comprising utility Enovos (owned partly by Ardian) and Swiss Life Funds, said the second source familiar and a person briefed.

Fluxys [EBR:FLUX] and DIF are also thought to have submitted binding bids, said the first source familiar.

A fifth bidder, whose identity has not been known, could also be there, the sources said.

The deal could be closed within days as financing should be relatively straightforward, said the second source familiar.

Macquarie, Ardian and Enovos declined to comment. Fluxys, DIF and Swiss Life did not immediately respond to requests for comment.

The asset is valued at between EUR 500m and EUR 550m, according to previous Mergermarket reports.

The sale of Thyssengas is being conducted by BofA Merrill Lynch, as reported.

The target, which recorded revenue of EUR 239m in 2014 with EBITDA of EUR 116m, is owned by MEIF III and Macquarie Specialised Asset Management.

It comprises a regulated 4,200 km gas transmission network in North Rhine-Westphalia, according to the company website.

>>> RL -6% on investor Day News - New CEO Announce big restructuring time to Buy

for me it was the mkt was expecting even if details on sales are not good, but not really a surprise...you are not playing numbers on this one...

on a technical point of view : RL US - divergence between price and tech indicator (price moving lower but indicators higher) suggest the move lower is exhausted and also attempting to base near the 61.8% fib retrace at 89

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: VRX -16.2%, COVS -11.6%, MIK -7.1%, SIGM -7.1%, CASY -2%

M&A news: YHOO -1.5% (Verizon (VZ) bidding ~$3 bln for Yahoo's core internet assets, according to the WSJ)


Select metals/mining stocks trading lower:AG -2.5%, GG -2.1%, NEM -2%, GDX -1.8%, VALE -1.6%, ABX -1.5%, SLV-1.3%, FCX -1.3%, IAG -1.3%, GOLD -1%, .

Other news: DRYS -38.6% (After filing 8k which covered previously released Q1 results and updated details regarding liquidity), ESI -20.9% (ordered by the Department of Education to enhance its finances, according to the WSJ), VBLT -11.1% (announces a 4.36 mln share registered direct offering of ordinary shares to institutional investors priced at $5.50/share), MSTX-10.2% (delays the anticipated timing for announcement of top-line data from its Phase 3 clinical study of vepoloxamer in patients with sickle cell disease), ALXN -9% (announces topline results from Phase 3 REGAIN Study of Eculizumab in patients with refractory generalized myasthenia gravis - REGAIN study missed its primary endpoint), BIIB -8.2% (reports top-line results from the Phase 2 Synergy study evaluating opicinumab missed its primary & secondary endpoints), ENVA -7.8% (announces the completion of a prelim assessment of the proposed rule regarding small-dollar loans issued on June 2nd by the CFPB, estimates rev decline of 30-40% if proposed ruling is adopted), CTLT -6.2% (launches secondary offering of 10 mln common shares by selling shareholders), TRU -3.1% (commences ~15.6 mln common stock offering by selling stockholder),TLLP -2.4% (prices upsized offering of 5,500,000 common units at $47.13 per common unit)

Analyst comments: JBL -3.1% (downgraded to Sell from Neutral at Goldman), DISCA -2.5% (downgraded to Underperform from Mkt Perform at Bernstein), RLYP -1.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley), PEG -1.8% (downgraded to Underperform from Neutral at BofA/Merrill), WERN -1.5% (downgraded to Hold from Buy at BB&T Capital Mkts), GDDY -1.1% (downgraded to Neutral from Buy at Citigroup)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: GIGA +13.2%, UNFI +10.7%, VNCE+5.4%, NAV +2%, XTLY +1%, HDS +0.8%, THO +0.6%

M&A news: LDRH +63.6% (to be acquired by Zimmer Biomet Holdings (ZBH) for $37.00/share in cash), AXLL +6% (Lotte Chemical submits bid to acquire Axiall for more than $2.6 bln, according to reports)

Select financial related names showing strength: DB +2.3%, SAN +2%, ING+1.5%, BCS +1.5%, MS +1%

Select oil/gas related names showing strength: CHK +3.3%, WLL +3.2%,SDRL +2.9%, TOT +2.2%, BP +1.2%

Other news: SRPT +31.5% (discloses FDA request that Co provide dystrophin data from biopsies already obtained from the ongoing confirmatory study of eteplirsen), DCTH +21.2% (enters into security purchase agreement with an institutional investor to issue $35 mln in senior convertible notes & related common stock purchase warrants), WGBS +13.5% (enters into an exclusive distribution agreement in Japan with Takara Bio), CTIC +12.3% (presents LT follow up data for Pacritinib showing reductions in spleen volume and symptom burden), Z +10.5% (settlement agreement with News Corp), ZG+9.7% (settlement agreement with News Corp), AEHR +7.5% (announces over $4.5 mln in orders of its FOX-XP production test cell; revs from these sales are expected to continue through early 2017), RGLS +5.4% (announces top-line results from the primary endpoint analysis of one of the company's ongoing phase II studies of RG-101 for the treatment of hepatitis C virus infection), IBN +3.4% (reports of additional funding received), RDS.A +3.4% (hosts Capital Markets Day; sees better than expected synergies from BG acquisition)

Analyst comments: MRO +3.1% (initiated with a Buy at KLR Group), WDC+1.7% (upgraded to Buy from Neutral at Mizuho), CCL +1.4% (initiated with a Buy at Sterne Agee CRT)

(TechCrunch) Smartphone sales growth will drop to single digits in 2016, says Ga


Smartphone sales growth will drop to single digits in 2016, says Gartner

Analyst Gartner is expecting a big drop in smartphone sales growth, projecting the market will shrink from 14.4 per cent growth in 2015 to just 7 per cent in 2016 — with only 1.5 billion smartphone units being shipped globally this year.

The high watermark for smartphone sales was back in 2010, when Gartner notes the market grew 73 per cent.

The signs of a slowdown in the global smartphone market have been clear for more than a year, with mature Western markets saturated and China’s growth engine also slowing as demand has topped out. Incentives for consumers to upgrade their devices yearly have also softened, with Gartner noting that new devices offer only incremental upgrades over existing hardware and carriers have been moving away from subsidizing upgrades.

In emerging markets it says the average lifetime of premium phone is between 2.2 and 2.5 years, while basic mobiles have an average lifetime of three years and up.

Gartner sees the biggest remaining opportunity for smartphone growth in India, noting that sales of feature phones — aka dumbphones — accounted for a majority (61 per cent) of total mobile device sales last year, leaving plenty of scope for upgrades as smartphones continue to become more affordable.

It is estimating 139 million smartphones will be sold in India this year, growing 29.5 per cent year-over-year. It notes the average selling price of mobiles in the country remains below $70, and it expects smartphones priced under $120 to continue to contribute around half of overall smartphones sales there this year. So little to cheer Apple there, in terms of growth opportunity for premium priced devices, but potentially good news for alternative smartphone OS maker Jolla which last year inked a deal with Indian OEM Intex to get devices running its Sailfish platform into the market.

The first Sailfish device for India, the Intex Aqua Fish, is priced below $120 and due to arrive this year, although its launch has been delayed — and last month was being slated as arriving “in the coming months”.

Turning to China, the story last year was flat smartphone sales, and Gartner is expecting “little growth” in the region in the next five years — couching it as a “saturated yet highly competitive” market — and noting that sales of smartphones represented 95 per cent of total mobile phones sales last year. So bad news for ambitious homegrown player Xiaomi, which has been gunning for high growth just as the local market is saturating. Last month it signed a deal with Microsoft on patents — paving the way to hunt elusive smartphone growth overseas.

Gartner does say it sees opportunity for “non-traditional” vendors in China, projecting that by 2018 at least one such phone maker will be among the top five smartphone brands in the country. “Chinese internet companies are increasingly investing in mobile device hardware development, platforms and distribution as they aim to grow their user bases and increase user loyalty and engagement,” notes Gartner analyst Annette Zimmerman in a statement.

The Sub-Saharan African region is also couched as an attractive region for smartphone vendors, with smartphone sales only overtaking mobile phones sales there for the first time last year. Nokia brand licensee and newly formed smartphone OEM HMD will want to take note, given it has paid for the right to build featurephones (and smartphones) bearing the previously iconic Nokia brand name.