RTRS - FRANCE'S CASINO CONSIDERS SPLITTING CNOVA'S FRENCH, BRAZILIAN BUSINESS, MERGING THEM INTO GROUP, SOURCE SAYS
Gapping down
In reaction to disappointing earnings/guidance: MOH -12.5%, SYNA -12.1%, SRCL -11.3%, NSR -10.4%, NPTN -10%, ESI-9.1%, ARII -8.7%, MOBL -8.5%, HCLP -6.9%, (commences $40 mln public offering of common units representing limited partnership interests in the Partnership), WDC -5.6%, BCOV -5.2%, FLEX -5%, GILD -4.8%, GRPN -4.7%, YGE -4%, SHEN-3.9%, EYES -3.2%, PSX -2.9%, SWKS -2.8%, RBS -2.8%, SGEN -2.7%, ATEN -2.5%, AAN -2.4%, TRGP -2.4%, BMRN -2.3%,ELLI -1.9%, SNY -1.9%, CPHD -1.4%, TEF -1.4%, BVN -1.2%, IMGN -1.2%, MCO -1%, CHDN -0.7%
M&A news: APOL -2.4% (adjourns special meeting of shareholders, 58% voted FOR the proposed acquisition)
Other news: BIOC -20.6% (proposed registered public offering of its common stock/warrants), AKS -9.6% (prices 52 mln shares of common stock at $4.40 per share), SDR -8.6% (reduces quarterly distribution to $0.101/unit from $0.183/unit), ALR -6.2% (obtains requisite lender approval for extension to file 10-K; provides update relating to the pending merger transaction with Abbott (ABT)), CNC -3.3% (MOH sympathy) WRE -3.2% (upsizes offering by 625K shares and prices 4.625 mln common shares at $28.20 per share), WCG -2.1% (MOH sympathy) BRX -1.8% (prices 20 mln share common stock offering by selling stockholders affiliated with Blackstone Real Estate Partners (BX) at $25.20/share)
Analyst comments: FCAU -1.9% (downgraded to Underperform from Neutral at BofA/Merrill), DB -1.4% (downgraded to Underperform from Mkt Perform at Keefe Bruyette), F -1.1% (downgraded to Neutral from Buy at BofA/Merrill)
In reaction to disappointing earnings/guidance: MOH -12.5%, SYNA -12.1%, SRCL -11.3%, NSR -10.4%, NPTN -10%, ESI-9.1%, ARII -8.7%, MOBL -8.5%, HCLP -6.9%, (commences $40 mln public offering of common units representing limited partnership interests in the Partnership), WDC -5.6%, BCOV -5.2%, FLEX -5%, GILD -4.8%, GRPN -4.7%, YGE -4%, SHEN-3.9%, EYES -3.2%, PSX -2.9%, SWKS -2.8%, RBS -2.8%, SGEN -2.7%, ATEN -2.5%, AAN -2.4%, TRGP -2.4%, BMRN -2.3%,ELLI -1.9%, SNY -1.9%, CPHD -1.4%, TEF -1.4%, BVN -1.2%, IMGN -1.2%, MCO -1%, CHDN -0.7%
M&A news: APOL -2.4% (adjourns special meeting of shareholders, 58% voted FOR the proposed acquisition)
Other news: BIOC -20.6% (proposed registered public offering of its common stock/warrants), AKS -9.6% (prices 52 mln shares of common stock at $4.40 per share), SDR -8.6% (reduces quarterly distribution to $0.101/unit from $0.183/unit), ALR -6.2% (obtains requisite lender approval for extension to file 10-K; provides update relating to the pending merger transaction with Abbott (ABT)), CNC -3.3% (MOH sympathy) WRE -3.2% (upsizes offering by 625K shares and prices 4.625 mln common shares at $28.20 per share), WCG -2.1% (MOH sympathy) BRX -1.8% (prices 20 mln share common stock offering by selling stockholders affiliated with Blackstone Real Estate Partners (BX) at $25.20/share)
Analyst comments: FCAU -1.9% (downgraded to Underperform from Neutral at BofA/Merrill), DB -1.4% (downgraded to Underperform from Mkt Perform at Keefe Bruyette), F -1.1% (downgraded to Neutral from Buy at BofA/Merrill)
Gapping up
In reaction to strong earnings/guidance: GNW +17.1%, GIMO +16.6%, AMZN +12%, EXPE +10.8%, EHTH +10.2%, LOGM+9.9%, YRCW +9.7%, P +9.6%, OUTR +8.5%, LNKD +7.9%, SNMX +7.8%, LNKD +7.3%, SKYW +6.8%, CYBE +6.8%, CLD+6.8%, BGS +6.1%, SHPG +5.9%, CBM +5.7%, OFIX +5.4%, RCL +4.9%, QLIK +4.8%, BIDU +4.5%, TNDM +3.9%, NLNK+3.9%, HST +3.7%, SCSS +3.6%, ALDR +3.3%, NWL +3.3%, ERJ +3.1%, JNPR +2.5%, ENVA +2.5%, AZN +2.5%, ABAX+2.4%, NVO +2.4%, AIV +2.3%, DRAD +2.3%, NUS +2.2%, DLR +2.2%, VFC +2.1%, PEG +2.1%, N +2%, GLPG +1.8%,AMC +1.8%, ALGN +1.6%, (also additional $300 mln to its existing share repurchase program), ATHN +1.5%, CPN +1.4%, AEM+1.3%, IDXX +1.2%, PSO +1.2%, AZPN +1.1%, TFSL +1.1%, PFG +0.9%
M&A news: ROVI +7.5% (To acquire TIVO for $1.1 bln), TIVO +6.4% (to be acquired by Rovi (ROVI) for $10.70/share, or ~$1.1 bln), NWBI +6.3% (Northwest Bancshares to acquire $1.7 bln in deposits and 18 First Niagara Branches in Buffalo New York subject to closing of the $1.0 bln merger with KeyCorp/First Niagara Financial Group)
Select metals/mining stocks trading higher: FCX +4.7%, CLF +3.7%, MT +2.7%, SLW +2.5%, HL +2.2%, KGC +2.1%,VALE +2%, PAAS +1.6%, NEM +1.5%
Other news: PRGN +73.1% (continued momentum higher), SDRL +13.3% (amends secured credit facilities), REN +2.6% (says has not reached an agreement on the terms of a Possible Transaction with various noteholders, discussions are not ongoing at this time), PCLN +2.1% (following EXPE results), GLPG +1.8% (Galapagos and AbbVie (ABBV) expand their cystic fibrosis collaboration; milestones increased from $350 to $600 mln), TBPH +1.1% (upsizes offering and prices 4,765,000 ordinary shares at $21.00 per share), .
In reaction to strong earnings/guidance: GNW +17.1%, GIMO +16.6%, AMZN +12%, EXPE +10.8%, EHTH +10.2%, LOGM+9.9%, YRCW +9.7%, P +9.6%, OUTR +8.5%, LNKD +7.9%, SNMX +7.8%, LNKD +7.3%, SKYW +6.8%, CYBE +6.8%, CLD+6.8%, BGS +6.1%, SHPG +5.9%, CBM +5.7%, OFIX +5.4%, RCL +4.9%, QLIK +4.8%, BIDU +4.5%, TNDM +3.9%, NLNK+3.9%, HST +3.7%, SCSS +3.6%, ALDR +3.3%, NWL +3.3%, ERJ +3.1%, JNPR +2.5%, ENVA +2.5%, AZN +2.5%, ABAX+2.4%, NVO +2.4%, AIV +2.3%, DRAD +2.3%, NUS +2.2%, DLR +2.2%, VFC +2.1%, PEG +2.1%, N +2%, GLPG +1.8%,AMC +1.8%, ALGN +1.6%, (also additional $300 mln to its existing share repurchase program), ATHN +1.5%, CPN +1.4%, AEM+1.3%, IDXX +1.2%, PSO +1.2%, AZPN +1.1%, TFSL +1.1%, PFG +0.9%
M&A news: ROVI +7.5% (To acquire TIVO for $1.1 bln), TIVO +6.4% (to be acquired by Rovi (ROVI) for $10.70/share, or ~$1.1 bln), NWBI +6.3% (Northwest Bancshares to acquire $1.7 bln in deposits and 18 First Niagara Branches in Buffalo New York subject to closing of the $1.0 bln merger with KeyCorp/First Niagara Financial Group)
Select metals/mining stocks trading higher: FCX +4.7%, CLF +3.7%, MT +2.7%, SLW +2.5%, HL +2.2%, KGC +2.1%,VALE +2%, PAAS +1.6%, NEM +1.5%
Other news: PRGN +73.1% (continued momentum higher), SDRL +13.3% (amends secured credit facilities), REN +2.6% (says has not reached an agreement on the terms of a Possible Transaction with various noteholders, discussions are not ongoing at this time), PCLN +2.1% (following EXPE results), GLPG +1.8% (Galapagos and AbbVie (ABBV) expand their cystic fibrosis collaboration; milestones increased from $350 to $600 mln), TBPH +1.1% (upsizes offering and prices 4,765,000 ordinary shares at $21.00 per share), .
*STRÖER CONSIDERS TO LAUNCH SHR BUYBACK PROGRAM, OTHER POSSIBLE
RTRS - SPAIN'S TELEFONICA TEF.MC SAYS CONVINCED REMEDIES OFFERED BY HUTCHISON OVER O2 DEAL SHOULD CONVINCE EUROPEAN WATCHDOG
Three things Apple can learn from Dyson
The US tech company should take notes from a British innovator, writes John Gapper
This has been a bad week for Apple and a good one for Dyson. The giant US consumer technology company suffered its first decline in quarterly earnings in 13 years amid a fall in iPhone sales. Meanwhile, UK-based Dyson launched a £299 hairdryer using the electric motor technology in its hand dryers and domestic fans.
Dyson is a minnow compared with Apple, but Tim Cook, Apple’s chief executive can learn lessons from Sir James Dyson on how a consumer technology company with a design focus can keep on launching premium products. The Apple Watch still has to prove itself and investors are wondering whether Mr Cook has the same inventive touch as Steve Jobs, its late co-founder.
One lesson is that it is easier to launch variations on a core technology than to keep coming up with something entirely new. Apple considered launching a television but is thought to have shelved the idea. It has a team working on a car, perhaps both electric and self-driving, but Handelsblatt reported this week that possible partnerships with Daimler or BMW have fallen through.
Dyson has kept on launching products based around a digital electric motor — its hand dryers are installed in many companies and it launched a robot vacuum cleaner last year. It has diversified widely from its original vacuum cleaner, and is now thought to be working on its own electric car.
A second lesson is, be prepared to fail. Dyson has launched a few products that did not capture the market as planned — notably a washing machine that it no longer makes, yet it has kept on going. In contrast, Apple seems hesitant to launch products that will not match up to blockbusters such as the iMac, the iPod and the iPhone.
Dyson has the advantage of being small. The personal wealth of Sir James, whose family owns the company, was estimated this week by the Sunday Times to have risen to £5bn, overtaking Sir Richard Branson’s. But Dyson’s sales last year were £1.38bn compared with Apple’s $234bn, so new products have a far lower revenue barrier to clear.
The third lesson is harder because Apple cannot learn from it: be led by a charismatic founder. Dyson relies to an extent on its version of what used to be called Mr Jobs’ “reality distortion field”. Consumers need to be persuaded that their products are worth far more than those of imitators or rivals. As well as innovative technology and sleek design, that requires a leap of faith.
Like Mr Jobs, Sir James embodies his products and is the pitch man for them, giving consumers the confidence that they are truly exceptional. Mr Jobs’ presentations of Apple’s inventions were marvellous shows, just as Sir James is an evangelical salesman in Dyson advertisements. But Mr Jobs died in 2011, and Mr Cook can never match his halo effect.
Reports in the Russian press that Google tried to acquire the Telegram messaging app last year for $1 billion have been firmly rebutted by Telegram founder Pavel Durov. The rumors had been widely reported in the tech press today.
The suggestion was that the now Google CEO, Sundar Pichai, met with Durov a year ago, when Pichai headed up Google product, to made an offer to buy the messaging platform — only for his overtures to be firmly rejected by Durov.
However Durov has very firmly rejected these rumors today.
“Bullshit,” he said, when contacted by TechCrunch to ask about the acquisition rumor. “I haven’t had any acquisition talks or meetings with Google. I am acquainted to Google people and Sundar of course, but acquisition, 1 billion — all of that is false.”
Google has of course long had its own messaging offering, Hangouts, but it’s also had a tough time trying to drive usage of the platform — losing out in the popularity stakes to other messaging giants, such as Facebook-owned WhatsApp.
That platform, which was acquired by Facebook for $19 billion back in 2014, passed the one billion MAUs mark earlier this year. While the younger Telegram, which only launched in fall 2013, has a more modest user-base but has been building momentum — passing 100 million active monthly users this February.
Google declined to comment on the Telegram acquisition rumors when contacted today, with a spokeswoman saying only that: “Google does not comment on rumor and speculation.”
The company has been making some moves to support the adoption of the RCS interoperable messaging standard, perhaps with a view to building its own Android to Android iMessage alternative.
No, Google did not try to buy us, says Telegram founder
Reports in the Russian press that Google tried to acquire the Telegram messaging app last year for $1 billion have been firmly rebutted by Telegram founder Pavel Durov. The rumors had been widely reported in the tech press today.
The suggestion was that the now Google CEO, Sundar Pichai, met with Durov a year ago, when Pichai headed up Google product, to made an offer to buy the messaging platform — only for his overtures to be firmly rejected by Durov.
However Durov has very firmly rejected these rumors today.
“Bullshit,” he said, when contacted by TechCrunch to ask about the acquisition rumor. “I haven’t had any acquisition talks or meetings with Google. I am acquainted to Google people and Sundar of course, but acquisition, 1 billion — all of that is false.”
Google has of course long had its own messaging offering, Hangouts, but it’s also had a tough time trying to drive usage of the platform — losing out in the popularity stakes to other messaging giants, such as Facebook-owned WhatsApp.
That platform, which was acquired by Facebook for $19 billion back in 2014, passed the one billion MAUs mark earlier this year. While the younger Telegram, which only launched in fall 2013, has a more modest user-base but has been building momentum — passing 100 million active monthly users this February.
Google declined to comment on the Telegram acquisition rumors when contacted today, with a spokeswoman saying only that: “Google does not comment on rumor and speculation.”
The company has been making some moves to support the adoption of the RCS interoperable messaging standard, perhaps with a view to building its own Android to Android iMessage alternative.