>>> Up
>>> Down
>>> Reiteration
>>> Initiation
Makor Turns 5
Location: 17 berkeley street, London
Start Date: 03/03/2016 19:00 - End Date: 04/03/2016 02:00
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Makor Securities
Gossard House
7/8 Savile Row
London W1S 3PE
England
Phone: +44 207 290 5777
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The services, securities and investments discussed in this material may not be available to, nor are suitable for all investors. Investors should make their own investment decisions based upon their own financial objectives and financial resources and it should be noted that investment involves risk, including the risk of capital loss. Past performance is no guide to future performance. In relation to securities denominated in foreign currency, movements in exchange rates will have an effect on the value, either favourable or unfavourable.
All investors. Investors should make their own investment decisions based upon their own financial objectives and financial resources and it should be noted that investment involves risk, including the risk of capital loss. Past performance is no guide to future performance. In relation to securities denominated in foreign currency, movements in exchange rates will have an effect on the value, either favourable or unfavourable.
Entities
Makor Securities London Ltd is authorised and regulated by the Financial Conduct
Authority (FCA registration number 625054)
Makor Capital, company number 514456466, is incorporated in Israel and is a 100% held
subsidiary of Makor Holdings Pte Ltd incorporated in Singapore.
Makor Capital Markets SA, company number CH-660.2.999.011-0 is incorporated in Switzerland
and is also a 100% held subsidiary of Makor Holdings Pte Ltd.
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Gapping down
In reaction to disappointing earnings/guidance: NMM -28.1%, MTCH -10.2%, NOV -6.7%, CMG -5.8%, ILMN -5.5%,MPC -4.7%, ALXN -4.7%, ATV -4.1%, NVO -3.7%, MRK -2.2%, YHOO -1.7%, (to pursue reverse spin concurrent with other strategic alternatives), SE -1.7%, SNOW -0.8%
Select EU financial related names showing weakness: DB -2.6%, HSBC -1.7%, BCS -1.6%, SAN -1.6%, ING -1.3%
Other news: ANET -7.1% (Arista Networks responds to the Initial Determination made by the Administrative Law Judge today in their International Trade Commission Investigation No. 337-TA-944 ), INFY -5.1% (still checking), SPLS -1.6% (Staples and Office Depot announce the completion of financing arrangements and the extension of their merger agreement )
Analyst comments: MCHP -3.3% (downgraded to Sell from Neutral at Goldman), TER -2.1% (downgraded to Neutral from Buy at Goldman), TXN -1.2% (downgraded to Sell from Neutral at Goldman), HPQ -1% (Tier 1 firm out cautious on PC demand).
In reaction to disappointing earnings/guidance: NMM -28.1%, MTCH -10.2%, NOV -6.7%, CMG -5.8%, ILMN -5.5%,MPC -4.7%, ALXN -4.7%, ATV -4.1%, NVO -3.7%, MRK -2.2%, YHOO -1.7%, (to pursue reverse spin concurrent with other strategic alternatives), SE -1.7%, SNOW -0.8%
Select EU financial related names showing weakness: DB -2.6%, HSBC -1.7%, BCS -1.6%, SAN -1.6%, ING -1.3%
Other news: ANET -7.1% (Arista Networks responds to the Initial Determination made by the Administrative Law Judge today in their International Trade Commission Investigation No. 337-TA-944 ), INFY -5.1% (still checking), SPLS -1.6% (Staples and Office Depot announce the completion of financing arrangements and the extension of their merger agreement )
Analyst comments: MCHP -3.3% (downgraded to Sell from Neutral at Goldman), TER -2.1% (downgraded to Neutral from Buy at Goldman), TXN -1.2% (downgraded to Sell from Neutral at Goldman), HPQ -1% (Tier 1 firm out cautious on PC demand).
Gapping up
In reaction to strong earnings/guidance: BOOT +23.1%, WNC +9.7%, CEVA+8.7%, MYGN +8%, OCLR +7.6%, SNCR +6.9%, CENT +6.8%, ULTI +6.2%,NHTC +6.1%, EW +5.3%, ATW +5.3%, VJET +4.8%, ETN +4.6%, GSK +3.3%,SPR +2.9%, CMCSA +2.5%, SLAB +2.5%, BLDR +2.1%, QGEN +2%, GILD+1.6%, VIAV +1.6%, (also appoints Oleg Khaykin as CEO), ABB +1.2%,MANH +1.1%, UNM +1.1%, DOX +1%, CBG +0.8%
M&A news: MY +14.8% (to go private for $2.51 per ADS), ZAGG +4.9% (ZAGG will acquire battery case manufacturer mophie - will host a conference call Feb 2 at 6:30pm ET to discuss the proposed merger), SYT+3.4% (confirms it will be acquired by ChemChina for over $43 bln; reports better than expected earnings)
Select metals/mining stocks trading higher: VALE +4.2%, MTL +4.1%, RIO+3.6%, AUY +3.3%, FCX +2.3%, HMY +2.1%
Select oil/gas related names showing strength: OAS +4.5%, CHK +3.7%,WLL +2.8%, PBR +2.7%, STO +2%, RDS.A +1.8%, SLB +0.8%
Other news: CNAT +20% (FDA grants Conatus fast track designation for development of emricasan in Nash cirrhosis), CYTX +11.1% (announces results of Phase I clinical study; cytori cell therapy safe and potentially effective in eu phase I erectile dysfunction trial), PUK +6.3% (still checking, may just be rebounding after recent weakness), XON +5.1% (lifting premarket as shareholder Bill Miller on CNBC gives bullish view on synthetic biology company), DRWI +3.7% (confirmed consolidation of its common shares), MRVL +3.5% (Starboard Value confirms 6.7% active stake, has retained three advisors), AZN +1.4% (receives EU approval for TAGRISSO), TWO +0.9% ( announces additional 50 mln share repurchase authorization), MMM +0.7% (increases quarterly dividend to $1.11/share, an 8% increase y/y; authorizes $10 bln share buyback; 3M to retain and further invest in its Health Information Systems business)
Analyst comments: NPTN +2.4% (upgraded to Strong Buy from Outperform at Raymond James), AMAT +1.1% (added to Conviction Buy List at Goldman
In reaction to strong earnings/guidance: BOOT +23.1%, WNC +9.7%, CEVA+8.7%, MYGN +8%, OCLR +7.6%, SNCR +6.9%, CENT +6.8%, ULTI +6.2%,NHTC +6.1%, EW +5.3%, ATW +5.3%, VJET +4.8%, ETN +4.6%, GSK +3.3%,SPR +2.9%, CMCSA +2.5%, SLAB +2.5%, BLDR +2.1%, QGEN +2%, GILD+1.6%, VIAV +1.6%, (also appoints Oleg Khaykin as CEO), ABB +1.2%,MANH +1.1%, UNM +1.1%, DOX +1%, CBG +0.8%
M&A news: MY +14.8% (to go private for $2.51 per ADS), ZAGG +4.9% (ZAGG will acquire battery case manufacturer mophie - will host a conference call Feb 2 at 6:30pm ET to discuss the proposed merger), SYT+3.4% (confirms it will be acquired by ChemChina for over $43 bln; reports better than expected earnings)
Select metals/mining stocks trading higher: VALE +4.2%, MTL +4.1%, RIO+3.6%, AUY +3.3%, FCX +2.3%, HMY +2.1%
Select oil/gas related names showing strength: OAS +4.5%, CHK +3.7%,WLL +2.8%, PBR +2.7%, STO +2%, RDS.A +1.8%, SLB +0.8%
Other news: CNAT +20% (FDA grants Conatus fast track designation for development of emricasan in Nash cirrhosis), CYTX +11.1% (announces results of Phase I clinical study; cytori cell therapy safe and potentially effective in eu phase I erectile dysfunction trial), PUK +6.3% (still checking, may just be rebounding after recent weakness), XON +5.1% (lifting premarket as shareholder Bill Miller on CNBC gives bullish view on synthetic biology company), DRWI +3.7% (confirmed consolidation of its common shares), MRVL +3.5% (Starboard Value confirms 6.7% active stake, has retained three advisors), AZN +1.4% (receives EU approval for TAGRISSO), TWO +0.9% ( announces additional 50 mln share repurchase authorization), MMM +0.7% (increases quarterly dividend to $1.11/share, an 8% increase y/y; authorizes $10 bln share buyback; 3M to retain and further invest in its Health Information Systems business)
Analyst comments: NPTN +2.4% (upgraded to Strong Buy from Outperform at Raymond James), AMAT +1.1% (added to Conviction Buy List at Goldman
--> MDLZ -1.5% pre market
Mondelez Int'l misses by $0.02, beats on revs; guides FY16
- Reports Q4 (Dec) earnings of $0.46 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $0.48; revenues fell 16.6% year/year to $7.36 bln vs the $7.26 bln Capital IQ Consensus, including a negative 11.4 percentage point impact from the coffee business transactions and a negative 11.0 percentage point impact from currency.
- FY16 guidance:
- Expects to deliver double-digit Adjusted EPS growth on a constant-currency basis. The company estimates currency translation would reduce Adjusted EPS by ~$0.13.
- Expects Organic Net Revenue growth of at least 2%, including a headwind of up to 125 basis points from a combination of trade optimization and elimination of less profitable SKUs.
- Co continues to expect Adjusted Operating Income margin to be 15 to 16%, and expects to be at the lower end of that range to reflect an approximately 50 basis point headwind resulting from the deconsolidation of the company's operations in Venezuela.
- Co expects to deliver an Adjusted Operating Income margin of 17 to 18% in 2018.
Exelon misses by $0.01, misses on revs; guides FY16 EPS in-line
- Reports Q4 (Dec) earnings of $0.38 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.39; revenues fell 3.8% year/year to $6.68 bln vs the $7.14 bln Capital IQ Consensus.
- Co issues in-line guidance for FY16, sees EPS of $2.40-2.70 vs. $2.51 Capital IQ Consensus Estimate.
- Co's Board of Directors also declared a first quarter dividend of $0.31 per share and approved a revised dividend policy. The approved policy would raise EXC's dividend 2.5% each year for the next three years, beginning with the June 2016 dividend
Euro not moving, boody believe they won't find a deal...