(BFW) Rio Said to Mull Breaking Up Hunter Valley Coal Business: AFR

BFW 08/18 14:29 *RIO SAID TO MULL BREAKING UP HUNTER VALLEY COAL BUSINESS: AFR
Rio Said to Mull Breaking Up Hunter Valley Coal Business: AFR
2015-08-18 14:35:13.133 GMT


By Christopher Kingdon
(Bloomberg) -- Rio Tinto is considering a break-up of its
Hunter Valley coal business in an effort to match assets with
potential buyers, Australian Financial Review says, citing
unidentified people familiar.

* Group out of Indonesia expressed interest in Mount Pleasant
thermal coal project; may be eyeing other parts of portfolio
* New Hope understood to be interested in only part of
business
* NOTE: August 13, Shenhua Group Interested in Rio’s
Australian Coal Assets: AFR


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To contact the reporter on this story:
Christopher Kingdon in London at +44-20-3525-0872 or
ckingdon@bloomberg.net
To contact the editors responsible for this story:
Clyde Eltzroth at +1-212-617-1879 or
celtzroth1@bloomberg.net
Christopher Kingdon

>>> VSLR - Teams with Google Sunroof project (VSLR -1%)

Teams with Google Sunroof project 
- Project Sunroof is a new online tool created by Google that provides homeowners with custom solar information for their home. The tool uses high-resolution aerial mapping (the same used by Google Earth) to help calculate a roof's solar energy potential, without having to climb up a ladder.
- The program will tell the homeowner how much sunlight hits their rooftop throughout the year while factoring in roof orientation, shade from trees and nearby buildings, and local weather patterns.
- A homeowner can also enter their typical electric bill cost for more customized results. The tool will combine the information to estimate the amount a homeowner could potentially save with solar panels, and it can help connect them with local solar providers, like Vivint Solar.

(BI) Alcatel-Lucent Deal Gives Nokia Firm Footing in Carrier Clouds

Alcatel-Lucent Deal Gives Nokia Firm Footing in Carrier Clouds
2015-08-18 13:53:15.185 GMT

BI NETW GLOB COPRIM
Alcatel-Lucent's strong IP routing and emerging software-defined
networking products will meaningfully add to Nokia's wireline
networking offerings when the purchase of Alcatel closes in
1H16. Nokia has limited exposure to cloud and SDN, which are key
investment areas for carriers. Alcatel had a 25.6% revenue share
in edge routing in 2014, according to IDC, and its Nuage SDN and
CloudBand units are popular with customers. Acquiring Alcatel
makes Nokia more competitive with Cisco, Juniper and Huawei.

|0|0|506920|224387250|NOT_APPLICABLE|BI NETWG COML |4-Q-Value-3|Q12||USD|R1310720,1441792,1638400,1703936|

This research note has been published by Bloomberg Intelligence.
For more information, see BI <GO>
-0- Aug/18/2015 13:53 GMT

>>> SUNE : Announces pricing of $650M of perpetual convertible preferred stock (

SUNE - Announces pricing of $650M of perpetual convertible preferred stock (14% of market cap) 
- Announced today the pricing of its public offering of 650,000 shares of 6.75% Series A Perpetual Convertible Preferred Stock, par value $0.01 per share (the "Perpetual Convertible Preferred Stock"), at a price of $1,000 per share. The offering is expected to close on August 21, 2015, subject to customary closing conditions.
- Dividends on the shares of the Perpetual Convertible Preferred Stock will be payable on a cumulative basis when, as and if declared by the Company's board of directors, or an authorized committee thereof, at the rate per annum of 6.75% on the liquidation preference of $1,000 per share of the Perpetual Convertible Preferred Stock. The dividends may be paid in cash, by delivery of shares of the Company's common stock or through any combination of cash and shares of the Company's common stock, as determined by the Company. Declared dividends will be payable quarterly on March 1, June 1, September 1 and December 1 of each year, commencing December 1, 2015. The Perpetual Convertible Preferred Stock has no maturity date, unless earlier converted or purchased. The Perpetual Convertible Preferred Stock will not be redeemable. 
- Holders of the Perpetual Convertible Preferred Stock will have the right to convert their shares of the Perpetual Convertible Preferred Stock into shares of common stock of the Company at any time. The initial conversion rate will be 56.7666 shares of common stock for each share of Perpetual Convertible Preferred Stock (subject to adjustment in certain circumstances), which is equal to an initial conversion price of approximately $17.62 per share of common stock. In addition, on or after September 6, 2020, the Company may cause all or any portion of the Perpetual Convertible Preferred Stock to be converted, at its option, into shares of common stock of the Company at the then-prevailing conversion rate, subject to certain conditions.
- The Company estimates that the net proceeds from this offering will be approximately $626.1 million, after deducting the underwriters' discount and estimated offering expenses. The Company intends to use the net proceeds from this offering for general corporate purposes, including funding working capital and growth initiatives.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: APP -16.5%, MTZ -7.5%, WMS -6.1%, (to issue restatement, announces late filing of 10-Q) WMT -2.8%, URBN -2.1%, HAIN -2%, DKS -0.5%

Select China related names showing weakness with Shanghai down over 6% last night: JD -3%, TEDU -2.2%, YOKU -2.1%, YY -2.1%, QIHU -2.1%, JRJC -2.1%, WB -1.6%, BABA -1.6%, BIDU -1.6%, .

Select metals/mining stocks trading lower: HMY -5.9%, FCX -2.7%, BHP -2%, X -1.6%, MT -1.4%, MT -1.4%, AA -1.3%, RIO -1.2%

Select oil/gas related names showing early weakness: STO -1.6%, SSL -1.1%, TOT -1.1%, RIG -1%, SDRL -1%, RDS.A -0.8%

Other news: NBG -5.9% (on-going uncertainty with bailout heading to German vote), YHOO -1.5% (in symp with BABA), SUNE -0.9% (SunEdison and Investment Funds Managed by Goldman Sachs Announce Formation of $1 Billion Construction and Operating Asset Facility), KKR -0.8% (KKR's Samson Resources corporate credit and debt ratings lowered to 'D' at S&P on failure to make interest payment), PBR -0.8% (might have to pay $1.6 bln related to corruption investigation, according to Reuters), ARMK -0.7% (announced secondary common stock offering of ~22.5 mln shares of common stock; announces concurrent company share repurchase from selling stockholders of 1.5 mln shares)

Analyst comments: SNDK -3.4% (downgraded to Underperform at BofA/Merrill), IGT -2.3% (downgraded to Underperform from Neutral at Sterne Agee CRT), TECD -1.1% (resumed with a Underperform at BofA/Merrill; tgt $49), DIS -0.8% (downgraded to Market Perform at Wells Fargo)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: TSL +9%, FN +5%, CMCM +4.7%, NNA +4.1%, HTHT +1%, HD +0.8%

Other news: NURO +31.2% (reports positive clinical results for its quell wearable pain relief device), OMER +13.4% (announces additional 'positive data' in its Phase 2 clinical trial of OMS721 for the treatment of thrombotic microangiopathies), ESPR +9.9% ( Provides Update on the ETC-1002 Development Program Following End-of-Phase 2 Meeting With FDA; Company on Track to Initiate Phase 3 Development Program in 2015), QTM +6.5% (Private Capital Management disclosed 6.52% active stake in 13D filing), AVEO +4.7% (cont strength), CSIQ +3.4% (in symp with TSL earnings), SGEN +2.9% (Announces FDA Regular Approval of ADCETRIS), IQNT +2.2% (enters three-year agreement with T-Mobile US (TMUS) for VoIP; raises FY15 rev guidance), IMMU +1.6% (issued a U.S. Patent for a new patent family 'Antibody-SN-38 Immunoconjugates with a CL2A Linker'), ONE +1.5% ( Zilkha Investments discloses 9.7% active stake in 13D filing; may attempt to influence the management of the Company ), JCP +0.9% (favorable commentary on Monday's Mad Money)

Analyst comments: JUNO +2.4% ( initiated with a Outperform at FBR Capital; tgt $73), NNBR +2.2% (initiated with a Buy at Stifel), AEO +0.8% (initiated with a Outperform at Wolfe Research
)

>>> Dick's Sporting Goods beats by $0.02, reports revs in-line; guides Q3 EPS in

Dick's Sporting Goods beats by $0.02, reports revs in-line; guides Q3 EPS in-line; guides FY16 EPS in-line, reaffirms comps

  • Reports Q2 (Jul) earnings of $0.77 per share, $0.02 better than the Capital IQ Consensus of $0.75; revenues rose 7.9% year/year to $1.82 bln vs the $1.83 bln consensus.
    • Consolidated same store sales increased 1.2%, compared to the co's guidance of ~flat to an increase of 2%. Same store sales for DICK'S Sporting Goods increased 1.5%, against a strong base that included the World Cup. Golf Galaxy decreased 2.9%, representing sequential progress.
  • Co issues in-line guidance for Q3, sees EPS of $0.45-0.48 vs. $0.46 Capital IQ Consensus; comps +1-3%
  • Co issues in-line guidance for FY16, raises EPS $0.01 to $3.13-3.21 vs. $3.17 Capital IQ Consensus; reaffirms comps +1-3%.